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Thread: Elliott Wave Trading Discussion

  1. #47101
    JimboFX's Avatar
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    Quote Originally Posted by aerocom View Post
    Here is my Eur$ weekly count. I think there are two guidelines that should be applied here. But, assuming that wave E is underway, I like Jimbofx's count. However, the move down ended in a diagonal wave C. In that case, (1) Diagonals retrace to the origin of the diagonal. In which case price is in a C wave and going much higher. (2) the guide line C=A would also indicate a higher price.

    We also have a potential H&S pattern. This pattern would indicate a price higher than the origin of the diagonal. Should the neckline break and hold, I look for a target in the area of 1.4281.

    Good Luck.

    Or maybe down to 1.2480 first then up to 1.3920....
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  2. #47102
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    Anybody thinking on these lines ???

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  3. #47103
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    Quote Originally Posted by durgesh147 View Post
    Anybody thinking on these lines ???

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    Agree on hourly. But I see your wave (ii) as five waves then wave i as three so instead of (i)-(ii) i-ii I see (i)-exp flat a-b-c-(ii) with (ii) where your ii is. Something like that :
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  4. #47104
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    Jimbo , see this hourly chart. I think , my labelling is correct. That part of the chart, i was trading on 5 minutes , so i remember the price action correctly. Can you also look at the 15 minute and lower timeframes ?

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  5. #47105
    aerocom is offline Moderator
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    Quote Originally Posted by durgesh147 View Post
    Anybody thinking on these lines ???

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    Yes, and I too agree with your hourly chart. I think the price could travel lower into the 38.2 to 50% fib area. I am essentially counting the same as you.

    Good Luck.

  6. #47106
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    What is your labeling for (i)? Leading diagonal? If so, how to label the 3rd impulsive wave of the diagonal? I'm kind of puzzled...

    Thanks, DT

    Quote Originally Posted by durgesh147 View Post
    Jimbo , see this hourly chart. I think , my labelling is correct. That part of the chart, i was trading on 5 minutes , so i remember the price action correctly. Can you also look at the 15 minute and lower timeframes ?
    Last edited by Dic Tracy; 11-28-2012 at 11:46 AM.

  7. #47107
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    Quote Originally Posted by aerocom View Post
    A rise in the EU and decline in the AU would confirm my hypothesis of a decline in the EA pair.
    You mean a rise in the EUR/AUD. That looks like a really good trade. I am thinking a pullback to around the 50 fib at 1.2340 to go long.

    Congrats on the Moderator position.

  8. #47108
    moh_monem43 is offline Registered User
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    What the reason to make Wave 5 @ 1.3358?

    Quote Originally Posted by durgesh147 View Post
    Anybody thinking on these lines ???


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    ]

  9. #47109
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    Hey guys,

    anyone have a monthly count for EUR/GBP ? I can count five up since 2000 but five of what is the question. And then obviously three down since 2008 which came to the 50% ret of those five waves. It's amazing how that 50% worked out. I'm already long there with my stop at BE and I intend to keep that trade for as long as I can as I believe it would go up in the long run. But would really appreciated if someone have a bigger picture past what I have so far.
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  10. #47110
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    Hi JimboFX. i'm new on forex but i got a suggestion! If you see anything wrong with my counting please feel free to say! I got the same conclusion in the end of my counting.



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  11. #47111
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  12. #47112
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    Quote Originally Posted by bizzcheck View Post
    Hi JimboFX. i'm new on forex but i got a suggestion! If you see anything wrong with my counting please feel free to say! I got the same conclusion in the end of my counting.
    You know what - I like that. The wave ratios fit even better with your count. Nice work

    Just one question though - what is your take after those five up are complete ? Is that going to be part of bigger A or 1 or something else ?

  13. #47113
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    Quote Originally Posted by JimboFX View Post
    You know what - I like that. The wave ratios fit even better with your count. Nice work

    Just one question though - what is your take after those five up are complete ? Is that going to be part of bigger A or 1 or something else ?
    I don`t know i need some price action but. At this point i just know the my marcket is going long. Sory and good luck

  14. #47114
    aerocom is offline Moderator
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    Quote Originally Posted by Paul79 View Post
    You mean a rise in the EUR/AUD. That looks like a really good trade. I am thinking a pullback to around the 50 fib at 1.2340 to go long.

    Congrats on the Moderator position.
    Thanks Paul for pointing out the error in logic. The question for me is there a message in the reasoning. The pair is down today. Thanks for the congrats.

    Good Luck.

  15. #47115
    aerocom is offline Moderator
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    Here is my short term view on the Eur$. I think it is in wave 5 of (1) but, this could be a B wave and I have not discounted that possibility. But, if price has indeed ended at the channel, wave 5 is underway. We also have alternation between wave 2 and wave 4 with wave 4 being a complex w-x-y-x-z and not likely to go lower unless the move comprises a complex A.

    Likely targets: In wave 5 would be between 1.3020 and 1.3080. These targets represent 5=1 and 5= .62 of 1. In a B wave, wave c of B would indicate a minimum target of 1.2793.

    See weekly chart posted earlier for long term perspective.

    Good Luck
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    Last edited by aerocom; 11-28-2012 at 10:46 PM.

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