| || |
02-25-2011, 02:43 PM #42391
As aerocom wrote below, a leading diagonal can be both, a 3-3-3-3-3 or a 5-3-5-3-5 (p.40 in EWP, or p.88 EWP). But still, this is not my prefered count anyway.
Originally Posted by freelancer
I do think that we are still in a upwards correction which can carry the EUR$ possibly up to 1.40 or even more. That's my take right now. Good luck!
02-26-2011, 01:41 PM #42392
Last edited by skinnypuppy; 02-26-2011 at 01:46 PM.
02-26-2011, 03:31 PM #42393
brent weekly here:
expanding diagonal of many 3 waves as the V.
feedback is much appreciated.
02-26-2011, 04:03 PM #42394
[QUOTE=skinnypuppy;749890]hello there.. :)
first post in the forum.
not exactly an expert on ew. but i was just looking for a place to discuss my gold count and i came across your post.
if you don't mind i'd like to share my views and my count and i'd be extremely happy if i could get some feedback on this count.
my problem with the count above is the (iii) i'm not very comfortable with the 7 wave structure of that wave. i can't get a proper subwave count. also the 5 of the (iii) looks like a 3 wave structure to me.
here's what i propose:
i also have a question about the part shaded in blue. how can a correction wave inside a (iii) have a 5 subwave structure?
I try to show it with the chart below, maybe it'll help you clarify tour take on your own Gold count. But some short comments to your questions:
1. "7 wave structure": Look at it as a 1-2_1-2_1-2-->extensions (see chart). Your question has drawn my attention to a more precise count, thanks!
2. "the 5 of the (iii) looks like a 3 wave structure": Same "solution" but you can count it without extension also, again observe alternation between deep wave 2 and shallow wave 4 (see chart).
3. "how can a correction wave inside a (iii) have a 5 subwave structure?": Try a double zigzag (W-X-Y). It looks very much alike... (the last wave down looks like a very short C-wave, eventually truncated, in your chart).
Last edited by 10frank01; 02-26-2011 at 04:23 PM.
02-26-2011, 04:46 PM #42395
Last edited by skinnypuppy; 02-26-2011 at 04:49 PM.
02-26-2011, 05:18 PM #42396
thanks a ton for your detailed answer. i like this new count a lot. especially the 4 sitting on the 50% works really well. my count is also on a 5. how do you like the micro count here of the 5?
i'm very new to ew counting so please bear with my incessant questions!
You're welcome. Yes your count is very much possible, but if I understand your labeling then maybe it should be labeled like below (??). Right now it is difficult to count all the squiggles (as always). It could well be that the correction is already over, and of course a deeper correction (a wave C of a possible wave 4 yet to unfold completely) may come. I honestly don't know. Below your chart again and and a tentative count of mine ... Good luck!
02-26-2011, 06:14 PM #42397
Last edited by skinnypuppy; 02-26-2011 at 06:16 PM.
02-28-2011, 11:39 AM #42398
just my personal view... any comments are welcomed
02-28-2011, 03:15 PM #42399
GBP/USD daily bullish outlook
02-28-2011, 06:55 PM #42400
The USD/CHF Monthly Chart shows a possible skewed triangle taking place....
Watch out for long term fib support at or near .9045 --------
Last edited by brad_1199; 02-28-2011 at 07:11 PM.
03-01-2011, 03:54 PM #42401
Hello Traders! I just wanted to share and highlight the short term Elliott Wave charts found within Daily FX done by our Technical Strategist, Jamie Saettele. His Elliott Wave Bias Table highlights 7 other pairs plus Oil and Gold. You may use these as a point of discussion or debate or to generate additional ideas.
Jamie writes: “The NZDUSD has traded to a fresh 2011 low but did carve out a key reversal last Wednesday. Key reversals do have a history of calling turns but the wave count is bearish with a 3rd wave possibly underway from the February high. A drop below 7342 would confirm that the NZDUSD completed wave b of a flat in late 2010 and is headed for an eventual drop below 6560. A negative 20/50 day average cross has registered and these averages are now resistance in the 7600/25 area. The former 4th wave extreme is also resistance at 7655.”
What are your thoughts? Agree? Disagree? Alternate count?
Thank you for being a part of our trading community!
To be added to Greg’s e-mail distribution list, please click here
Want to discuss how our resources can help you reach your trading goals? Add your post to join the conversation or feel free to contact me directly at firstname.lastname@example.org
We look forward to hearing from you!
*Sign our Guestbook
to gain access to the Trading with Fibonacci Course
that will teach you how to use this powerful tool
03-01-2011, 11:23 PM #42402
EUR/USD final bear
Is EUR/USD at last beginning its final bear market?
Weekly, 4h, and daily views. Lots of wood to chop yet but bullish momentum is dying fast. Three recent attempts at 1.3860 have failed.
I'm comfortable with a small position with a tight stop above March 1 high of 1.3853. Above there it could easily blow through 1.3860 and test 1.4281. Hope to build it up over the coming weeks and start taking profit around July/August.
Last edited by broyboy; 03-02-2011 at 12:04 AM.
03-02-2011, 11:22 AM #42403
Called the end of wave -I- a bit premature in my last post. As of now it looks it might be working on expanding triangle in wave (v) of -I-
03-02-2011, 04:06 PM #42404
Similar to cable after completion of wave -i- expect a pullback in wave -ii-
03-03-2011, 12:53 PM #42405
fasten your seat belts - the bigger slide is beginning any time soon as the euro hit 61.8 fibo projection of the bull flag in the final E wave of a [B] wave triangle suggesting a [C] wave down:
Last edited by freelancer; 03-03-2011 at 12:59 PM.
Tags for this Thread
Disclaimer: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. The possibility exists that you could sustain a loss in excess to your investment and therefore you should not invest money that you cannot afford to lose. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. FXCM will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.