Jamie, how about these 5 waves on the 5 min being part of the 5th wave within an ending diagonal?Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=14069&stc=1&d=1209538740
AUDNZD Bull Party !!
Would You Just Look At This Bullish Thrust on the Weekly chart Of AUDNZD... No doubt in my mind that we are in a wave 3 upward here... Hats Off To Jaime For Calling this one... I remember holding long from the bottom.. But I decided to leave it alone after it was seemingly underperforming.. The Divergence Shown On The MACD indicates there is some Heavy Bullish Potential In This Pair Right Now On The Weekly Chart... .... To any that are holding long.. Hats off to you aswell http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif I Think I might just hop on too http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif Shoulda Kept the longs http://www.learncurrencytrading.com/fxforum/images/smilies/frown.gif Oh well .. Safety First http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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Hey Brad,
I prefer to keep it simple. We did get 5 down with not much of a retrace so we might get a spikee up today during rate decision so be careful! We have yet to retest lower trend line of ending diagonal if it indeed was an ending so for all those Euro bears, that might be a second chance to enter.Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=14076&stc=1&thumb=1&d=1209552971
euro
Hey guys,
Not sure if anyone saw this count yet but this is how i see it. Retrace coming soon I think.
Silver
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Careful if short USD
Hi Guys
I see the following on USDCHF on the dailys, could have a breakout today
Any comment
Ray
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=14080&stc=1&d=1209558859
Here's an update on my view of the EUR/CHF that was posted several days ago. I am still holding short from 162.35. I'm looking for a wave C ret. down to at least the .382 of the entire preceding 5 wave rally.
Risk is that my labeled wave A of a larger ABC is all there is going to be and wave A is the total correction. The reason I don't think that is likely is that there was a very clear large 5 wave rally that has not been retraced by even .382 yet. And, today's high so far has ret. .618 of wave A. Which "looks right".
I'll stick it out and risk break even on the trade for now.
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I appreciate your input!
Since you were violated then I think we are in the a, b, c, correction from 9292. I don't know where it will go but my ew guess would be 9414 to 9444 range.
I will put a buy order in after this short correction with a hedge sell instead of a stop below my entry. Does this make sense. I believe the trend is down so in the past I have done this for protection when going against the trend.Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=14083&stc=1&thumb=1&d=1209562713
I have decided to put a sell in here with target at 50 % fib and 61 fib as soon as it breaks 5 min trend.Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=14084&stc=1&thumb=1&d=1209566649
Aud Usd
It looks like AUDUSD has reached now 50% Fib retracement and it will still go a little higher, above 61.8%
Likely, the turning point will be close to 0.947
Mike
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Gbpusd
LOOKS very IMPULSIVE now. PLANNING to buy in every dip I see.
MOST likely wC33 up now. I still do not know what the news or how it was. BUT it sure looks to have favored my LONG CABLE trades.
EGhttp://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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EG,
You betcha. Here it is. A little weird looking. I'm not sure about this. Let me know what you think.
http://www.geocities.com/zhliew/trading/GBP/GBPhourly0430_1.jpg
I've been watching that formation as well. It looks like a flag formation rather than a triangle. Don't hold me to it but that would be my guess. I'm not sure which way it will breakout. But, it should breakout one way or the other. :-)Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=14092&stc=1&thumb=1&d=1209576418
I have been reading your posts in here and respect you opinion much. I am new to EW and my historical knowledge of the various pairs is limited, hence most goes over my head. I am with you on the Eur/Chf and have been following and trading it some since it looked like it started coming down, then up.
Made some pips but I seem to get in late and out early but still made enough to perhaps reinvest a little extra. It looks like it is almost at C, end of 5 on that correction. The risk/ reward will be excellent with the bottom I don’t know where. If anyone can help me with that I’d appreciate it. I will set my stop where when the spread changes it won’t stop me out!!!
It’s a bummer to come home from my day job to see what could have been.
Any way I’m getting a little braver with posting my charts.
Does Elliot really control world economies?
I’ll have to research to find out whom he answered to.
Successful trading to all
FlaGordonAttached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=14093&stc=1&thumb=1&d=1209578857
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cable:
hellow everyone,
cable bulls started to run and it has a long runway undergoing.
the triangle formation had finished with an (e) thrust of terminal E arm
wish you all a good profits,
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Eurusd ...gizmo ;)
Hey Gizmo... How Bet Them Apples Buddy,,, Resistance found right on the 123.6 fib extension (B waves end right around there http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif From what I can see right now .. There are two bearish scenario's for EURUSD... Both require some Shorter term Consolodation first though..
ON THE CHARTS .. >>>
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Usdjpy
I'm somewhat lost for a decent count on the shorter time frames of USDJPY for now I don't think it's clear.. All I know Is The Trend Is Down And We're Just waiting for a daily close below the shorter term Uptrend line to sell http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif The Market is being pushed lower right now... Have patience, watch the line .. It may break soon .. It may break in a week or two.. Who Knows.. Have Patience Young Grasshoppa .. lol
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Gbpusd
I do like the wxy Count I just saw 4x4 post in here for GBPUSD.. It's also a possability.. This Chart is still choppy and sidways .. It could go either way from here..
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USDCHF Reversal
Remember This Chart from weeks ago... Looks like a good long to me http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif I'm still holding long http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif Although this market surprised me with a whip saw move and I got stopped out on a smaller intra-day trade I had on.. Oh well .. Still riding the rest to the Bank.. http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif Stops Just Above Break Even.. http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
There is just too much "Fishy STuff" Goin on at this 161.8 Fibonnaci level and It's also a spot where the Large "B" wave we are in could end at...
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audcad
cHECK tHIS oNE oUT... Been following this short term Audcad in here ... The rally I was looking for began..
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GBP - Impulsive
Hey Guys,
I hope everybody faired well today with the FOMC announcement. Anyway, the chart below shows a possible setup forming in EUR/GBP. The count I have as of now has price in a fourth wave correction of a five down pattern. A very small spike higher could complete the fourth wave correction and present a sell opportunity for a scalp trade (30 points or so).
F.Y.I. - Looking across the FX market, this pattern is the same in all GBP crosses.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=14105&stc=1&d=1209596172
Usd/chf - Usd/jpy
Here's another chart of cross-market analysis. The daily charts of USD/JPY and USD/CHF are trading in lockstep. This only strengthens my confidence in a downside move in USD/CHF due to the bearish trend that's taking place in USD/JPY. The two pairs have generally been trading with the same pattern since way back in 1975. I don't see why they'd stop now.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=14109&stc=1&d=1209599921
USD/CHF - Alternate Count
Hey Guys,
Here's an alternate count for the long term USD/CHF charts. I still see further downside potential remaining in the future. There are two charts below. The first shows the decline that began back in Nov2005. This count shows that price is still in a large third wave decline. Price has traded through the 161.8% extension of the larger wave one, so we can now look ahead to the 261.8% extension. That area comes into play at 88.82. While that's still ~1400 points away, it's not completely out of the question.
The second chart is a monthly comparison of the USD/CHF and EUR/USD. You can obviously see that the two pairs are highly correlated (inversely). All of the counts presented for EUR/USD still call for higher prices in the long term. This of course would mean lower prices for USD/CHF.
My plan of attack for this pair is to wait until I see a good solid five down on the 60 minute charts. Once I see that, I'll short on a bounce.
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Gbpusd
JimboFX
yes it is vey impulsive now. and that drawdown sure was a jolt that made me keep re assessing my counts where I could possibly have gone wrong. or did the CABLE BULLS just got lucky now. looking forward to your chart
I think with the run up during the US session, a wave 34 towards 1.9837 or down to 1.9802 maybe expected. IF it does go down , then I will add. but there is also an equal chance that price may just consider continuing its ride up barely looking back at the down side. I will still be happy just to let the long trades run without the addional trades. Still have not added long positions yet.
chibai...
you may see that as a triangle. however.... if you look at the chart I posted yesterday, I showed why I had some hesitations on calling it a triangle because of how price acted on the trendlines. besides..... brcause I considered that down move from 2.0024 down as wave wc32 ( I was not looking for a triangle as triangles rarely occur on wave 2s. Therefore.... I was more inclined to look for a near perfect reason to consider that structure as a triangle. the near perfect triangle for the ending diagonal wave c helped calm me down or gave some re assurance to my own count.
but that sudden drop to the 1.96xxx levels sure cast a few doubts on my wave count. but for as long as 1.9600 was not taken out, there was still room to have that considered as a wave 2 of a wave 3 going up.
if it went lower than 1.9600, then it actually would make me go up the TF and still have reason to consider being a BULL and that move to the downside toward 1.9500 can still be part of an expanded flat on the higher TF. so depending on your risk tolerance and the leverage you use with your capital, these wide range for wave count possibilities sure calls for using low leverage so one can stretch minimal capital to absorb this many possibilities.
like I mentioned in my earlier post, I try to differentiate the traditional TRIANGLE pattern from the EW triangles. TRADITIONAL triangles may take the form of a 3 wave structure while EW triangles are 5 wave structured and have rules/guidelines to follow.
Currently...... I will stick to my earlier wave count with just an expanded view on the wc32.
EGhttp://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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