Take a look at the long term EURCAD.... There is a monster of a bull market waiting in EURCAD...... I will definately be watching for a close above that down trend line on the chart..... Whenever it may occour....
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10494&stc=1&d=1199941663
Thank you Marketwavez
I believe it was a wave 4 of a higher degree wave 1.
Attached is a chart a posted for the calculations earlier in the day.
If price keeps falling from here, then here is what I would consider as another classic case of using EW to Forecast Price Levels.
It hit the upper edge of a downward channel
fell within the 50-61.8% retracement of wave 1
is within the FE 161.8 FIB Extention of wave A for a Zigzag
EGhttp://www.learncurrencytrading.com/fxforum/images/smilies/smile.gifAttached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10495&stc=1&d=1199947497
Starting to wonder if it is just me or is anybody else watching what seems to be an ending diagonal wave C forming on the 1hr chart of the EURUSD
EGhttp://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
update : I just realized, it could also be a Leading Diagonal Wave 1
update 2 : Replacing chart with what looks more like a Leading Diagonal Wave 1 due to internal structure of 53535
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10507&stc=1&d=1199967801
Not looking good for GOLD!
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10498&stc=1&d=1199949750
Im very bearish Euro right now. More so than the pound even. Eur/Gbp finally seems to have taken a down turn it would seem right now. Bearish reversal candlestick further adds to the case.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10508&stc=1&d=1199968369
this is my new idea....
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10499&stc=1&d=1199956990
Gbp/Usd
See here ...............Resistance lines ......
- price action running into a problem area...... http://www.learncurrencytrading.com/fxforum/images/smilies/eek.gif !
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I still think that a EURUSD decline needs to unfold in a c wave (at least). Here is a revised count. 1.4761-88 is the next potential level of resistance.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10511&stc=1&d=1199976449
This is an option that we haven't even explored yet...a triangle as wave 4. The next move is still lower under this count...probably into the 1.4500 area. Again, 1.4823 is the critical level.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10512&stc=1&d=1199977882
One idea is that a triangle is unfolding in a 4th. The 5th would challenge objectives, which are at 210. and 209.56 (210 is a 'psychological' round number anyway).Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10514&stc=1&d=1199981296
Here an interesting note with the Gbp/Jpy. We've reached the 200 week moving average. Many traders might see this as a good buying opportunity. Be interesting to see if this week we close below or above the 200.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10513&stc=1&d=1199979498
it seems wave 5 end the end of forth wave of wave one from large 5 diagonal,is that a logical result ?or still too early to unfold?....i dont know....
it was hard to imagin buy euro immediate after my lost (at that poit) was a wisdom position, .....but my lost is covering now ,Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10522&stc=1&d=1199988663 http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10523&stc=1&d=1199988680
Back on the BULL Trend for EURUSD
This price movement going up seems to me shows bias for EURUSD to be back on the BULL Trend.
I can not consider this as a corrective wave because Maximum C can be is 1.618 of A. This is already more than 2.618 of A. SO below FE 161.8 can be considered as ABC corrective wave. but if wave supposed to be "C" is more than FE 161.8, then this should be considered as wave 3 already and not wave C.
I would think that this is now part of a 12345 set of Impulse Waves
and most likely we have just seen the top of wave 3 @ 1.4813 and should be followed by at least a 23.6% retracement though normally by 38.2% for a wave 4.
On the argument that this could be a triangle 4th wave, structure needs to be 33333. that means 5 Zigzags in the triangle. I would say that considering this wave 4 as a triangle opens up a wider range for price to move as we could have a contracting triangle and even an expanding triangle. and a barrier triangle which would have different price leveles as limits.
Most likely, using the guide for diffrentiating an abc from a 12345 impulse wave would come very handy in trading the waves this time.
EGhttp://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10526&stc=1&d=1199990884
Hi ,
this is my count, update and revised....
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10528&stc=1&d=1199992951
DOW Count
Hi guys,
I am new to this forum. But I'd like to agree with Jamie about the dow, i think it should get to just below 13,000 before it tanks horribly. My count from the high of 14,198 shows that what is developing is a zigzag correction. As such we are in the 4th wave of an impulse C wave.
This 3rd wave fall of the C wave impulse took 8 days, and I think the 4th wave countertrend correction will take 3 days, so I am looking for a high 2moro. 8 and 3 are fib numbers!
Fundamentally Citigroup reports on the 15th of Jan, and 4th Q earnings are underway. The banks start first, so next week maybe terrible for the bulls.
I may be wrong though!
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10529&stc=1&d=1199997390
a-b-c of
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Watch The Gbpusd Very Closely GBPUSD IS COMING INTO REVERSAL ZONE..... WATCH FOR POSSIBLE REVERSAL ...... http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif
Hey Jaime..... and anyone reading.... lets get an opinion on this...
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Hi Friens The new version of my mind.....(excuse for my english all time)
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Eur/usd
Hi guys, i think if we adhere to the wave principle then this pair is tracing out a wave ii correction of 5. Especially as it hasn't broken 1.4823 which I define as wave i of 5.
At the moment it is trying to break that resistance though. On the 240 min chart can you see the reversal candlestick forming the 'hanging man'.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10539&stc=1&d=1200038437 http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10540&stc=1&d=1200038449
it is too hard to change idea tick by tick in this volatile market,but anybody agree with this count,maybe sentesive situationAttached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10544&stc=1&d=1200059415
Welcome, as per EURGBP...this is definitely a third wave higher and very extended. Maybe we go into a 4th right now...that could be sharp and get down to .7250 in a few months time. Notice that the current price is the 261.8% extension of wave 1.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10545&stc=1&d=1200062355
Time to turn bullish on pounds for a correction higher ? The wedge pattern suggests a reversal might be forming. Will be watching this one very close.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10546&stc=1&d=1200063403