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04-23-2012, 12:11 PM #45106
AUDUSD Weekly - Flat or Triangle in B?
Hi all - wondering if we have a C-wave decline in either triangle B (a "3)", or a flat B (a "5"). Either way watch 1.0130 uptrend support, which is highly visible, thus very vulnerable, to get this C-wave moving.
04-23-2012, 04:52 PM #45107
USD/CHF Daily Chart
Waves on the daily chart suggest this count is high probability...
But it's going to be a choppy wait before the market starts digging lower...
USD/CHF Daily Chart ------>
04-23-2012, 05:10 PM #45108
Here is mine but I think I like yours better.
Originally Posted by brad_1199
04-23-2012, 05:29 PM #45109
I will try a short here at current market value....
Originally Posted by aerocom
I am now short from .9135
Stop is at .9260 just above the "wave C" high
Near term target is at .9010 , Just shy of the "wave B" low at .9001
Risk = 125 Pips
Reward = 125 pips
Ratio = 1:1 (Ideally I would like to see a 1:2 ratio or greater on most trades, but this one looks good enough that I will take a stab at it)
04-23-2012, 06:10 PM #45110
ONE OF MY FAVORITE BOOKS
I know this has been posted before on this forum, but this is a truly a great book for aspiring Elliotticians.
Balan , Robert - Elliott Wave Principle Forex
04-23-2012, 11:12 PM #45111
SILVER 3H CHART
I think silver will be a great buy soon and will reach new highs over the next year or so. Waiting patiently for the bottom of this correction to form.
04-24-2012, 12:32 AM #45112
The $yen has retraced near .707 percent and should be starting wave 3 soon.
04-24-2012, 03:00 AM #45113
AUDUSD H4 24 APRIL 2012
Thank you Mr. Aerocom. Let us discuss more on this pair. Entry should be made at 1.03. I suspect this is the diagonal since market is still bullish. What do you think ?
04-24-2012, 07:15 AM #45114
AUDUSD W1 24 APRIL 2012
This is the larger picture that I see.
04-24-2012, 10:49 AM #45115
divergence ........30 min tf
any of you guys seen the divergence on 30 min eu
when 4hr tips too could see lge drop again on eu
daily indies on stochastic also showing toppish plus weekly has divergence raging for larger tf drops
not sure ow that fits in with your ew but to me divergence is key
Take your profits or the market will take it from you....
04-24-2012, 11:05 AM #45116
I agree - a really great book for the Elliottician looking to transition from the theory of EWP to the application of EWP.
Originally Posted by 2_bits
04-24-2012, 11:07 AM #45117
The current movement is complete near 1. The previous move (will post chart later) was probably a flat. The move down to 1.31+/- is a 5 wave move that I am counting as 1 and the move back as 2.
Originally Posted by cw1
Over the next few days there will probably be a pronounced move down.
04-24-2012, 11:10 AM #45118
Hi Traders - I see you guys tracking silver, which has been quite interesting below $31.00 from the risk-on / risk-off perspective. We posted the following gold chart this morning to update our clients on our long gold position. Notice the coincidence of .618 time AND price relationship. While silver was breaking $31.00 gold was holding the $1625 level. Cautiously bullish gold.
04-24-2012, 11:32 AM #45119
Here is Eur$ chart that was referenced in previous post.
NOTE: I closed my Swissy short with a 30p gain. Watching gap close for a long as it is the inverse of the Eur$
04-24-2012, 11:58 AM #45120
Here is an update on my Dow post for Sunday night. It looks like the DOW is intent on keeping its October date with a low. The March high just as it was 10 years ago appears to be the top in the DOW. It certainly has put in a new low in April. Whether it moves to a new high in May is still open but, I doubt it.
On the chart you can see what appears to be a H&S top. There was a gap opened in the futures on Sunday. The closure coincides with a retest of the neck line. If it is repelled, good bye.
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