Brad ,
Why don't you ask Italm or Eg888....... ?
He will respond top you right away, I'm sure
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Here is another view ..... ( see chart below )
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Next time, just ask Italm or Eg888.... especially it its a Yen Pair !
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Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10310&stc=1&d=1199413485 http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10317&stc=1&d=1199415156
Brad ,
Here is the Euro/Usd chart update from this morning .........
I be watching this mainly tomorrow also ........http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10319&stc=1&d=1199415838
Brad, here is my take on EURJPY. I think wave 3 or C is unfoldind right now with min target 157.70 but 152.17 is more likely for that count. Hope that helps.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10327&stc=1&d=1199446308
Further more 4 hour count suggests a retest of 163 area is likely to complete wave 2 which is also trendline breakout.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10328&stc=1&d=1199447786
A great short term buy opportunity in the EURJPY right now. If the decline from 166.65 is indeed an impulse, then wave 5 is extended and therefore we are due for a sizeable wave 2 higher. Waves a and b of the 2 are complete and wave c is probable beginning right now. The target is 164 (former 4th) and risk is kept to 159.74.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10329&stc=1&d=1199454286
Everything you say is correct but the most important thing to me is the wave structure. At this point, the most probable count is bullish until at least 1.52/1.53. Not to mention, COT data shows that traders are actually very long the US dollar and commercial hedgers are very short the dollar...always line with the commercials when commercials and specs diverge significantly. Keep in mind the quote from Keynes...."marktes can remain illogical far longer than you can remain solvent"...
even better is a quote from my favorite book of all time..Reminiscences of a Stock Operator (it is the fictionalized biography of one the Street's all time geatest speculators...Jesse Livermore)...anyway the quote is
“The trend is evident to a man who has an open mind and reasonably clear sight, for it is never wise for a speculator to fit his facts to his theories.” (page 122)
If we just look at the rally from the June low at 1.3261, it is clear that a 5th wave is needed to complete the rally. At this point, my target is 1.5277..which is a fibo extensionAttached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10333&stc=1&d=1199461637
If you can't see the dollar declining for a few more years then maybe this chart will help you. This is a monthly USD Index chart back to the early 70's. Might a huge 5 wave advance had ended in 1985 had currencies been allowed to free float in the middle of the 1900's? If so, then wave C of the large A-B-C is still underway AND the decline is in wave 3 of C now...which makes sense as the EURUSD has actually accelerated recently. If wave C is to equal wave A in % terms, then this decline could extend to 62.75 in USD index terms. That corresponds to about 1.7800 in the EURUSD. Sounds crazy but most correct forecasts do sound crazy at some point.
Also, as per your thinking that wave II is forced; the count follows all of Elliott's rules and even satisifes the guideline of ending in the area of the previous 4h wave (although not near the terminus).
Do I hope that this count is wrong...absolutely! After all, I am a US citizen and I do get paid in dollars. BUT...it is not my job to be on the bull side or bear side..it is my job to be on the right side.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10336&stc=1&d=1199463701
Usd/Cad
Hmmm?.......
How come no one in the news is talking about this?
Have a good look here
THIS COULD BE SERIOUS ......... http://forexfactory.com/images/smilies/eek.gif !
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Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10334&stc=1&d=1199462494
wOw ..............http://forexfactory.com/images/smilies/surprised.gif
Talk about " Shock and Awe "......
Look at what just happened will you l
How about that ?
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Elliott Waves - they are always there ........
The foundation is always built into price
Forget about News and waiting for Reports to come out
The Evidence is always in the charts :
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Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10337&stc=1&d=1199463944 http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10338&stc=1&d=1199463951
Usd/Cad
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" Chart of the Day "
Why is there suddenly all this interest in the Loonie ?...http://www.learncurrencytrading.com/fxforum/images/smilies/rolleyes.gif
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Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10345&stc=1&d=1199474720
Enough of all this theory stuff...let's get back to trading. Here is a possible count for the EURUSD that all should be aware of. An expanded flat as part of wave 2 of a larger 5th. If this is correct, then price will come under 1.4569 and likely test 1.4500 in the next 2 weeks.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10341&stc=1&d=1199467151
What's going on here today ? ................. Thanx again
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10343&stc=1&d=1199468853
Thanks Italm !
Hey Brad,
Thanks for the response Italm http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif A multi year top you say ?? Hmmmm... I have to say thats exactly how I feel about the pair too at the moment, but it's deffinately going to take a break of the trend line since the millenium low to convince me...
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10340&stc=1&d=1199467013
USDCAD reversal ?????
I see what your getting excited about in the usd/cad Market :P
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10344&stc=1&d=1199471517
Thats great Jamie. Awesome argument for the bears side. Now do me a favor. Be an objective spectular, take off your bear glasses for just one second, put on some bull glasses and tell me if this count is at all possible. If not, why not? I already told you why I don't like your count, now can you please tell me why my count is totally off base. Am I breaking any rules? Just humor me if you will for 1 min please.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10339&stc=1&d=1199464142
noone is interested by kiwi?
there is always a good potential,
5' chart :
http://img120.imageshack.us/img120/3057/nzd1pc1.gif
I wonder if it wasnt a C wave we made...
http://img292.imageshack.us/img292/6938/nzd1ha7.gif
ok Jamie :
- just observed all this in the Usd/Yen here in the last 15 mins
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Will the Bulls come now come out to Play ?
or , maybe they are still snowed in http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10348&stc=1&d=1199477383 http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10350&stc=1&d=1199477578
Hi Adrian , Welcome back
Here is the Usd/Yen chart( Mid Terrm )
Posted from 2 days ago , here it is again .........http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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Gbp/Usd
Happy New Year to you all ......http://forexfactory.com/images/smilies/smile.gif
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Just wanted to stop by and give you guys some eye candy .
Tomorrow, if the US Dollar ( Swissy ) starts moving up and closing
-Then the Gbp/Usd may be on it's way to Bear Heaven ....
See Chart posted just below :
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( Double click on chart to enlarge )
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10363&stc=1&d=1199504678
Usd/Chf
This the a chart setup for tomorrow friday 's daytime sessionhttp://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10387&stc=1&d=1199675458
Usd/Cad .............
Jamie ,
also keep an eye on this going into the US morning session.......http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
Which way could this break ? ...............If , it breaks at all !
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Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10389&stc=1&d=1199688530