Jimbo...here is my count right now for Cable...this might be one of the best buying opportunities of the year for Cable. The confluence of the fibonacci extensions AND a support line should be strong. Even if the rally proves to be just a 4, then price should rally at least to 2.01.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10547&stc=1&d=1200063886
GBP USD will it drop below 1.95 deeper?
Can we consider GBPUSD is on ABC correction in this 2-3 hour before continue downtrend in 5 wave down after this ABC correction? Any comment?
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EURGBP resistance?
For those who expect EURGBP will finaly reverse, the Fib 61.8 and the trendline in this chart may become a second thought about the next resistances to stop the rally.
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Wave 3 alert!
Heads up on the Aussie. Wave 2 looks at or near completion. The next drop should bring about wave 3 if this count is correct. A typical wave 3 would bring us back near the 7800 area. w are currently sitting at the 38.2 % retracement of wave 1 down. That is a typical price projection for the termination of an expanded flat.
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Usd/cad
Didn't have time to post yesterday, I'm still long, and we should still see higher levels in this.....here's my count. A move below 1.0126 cancels this count out, and a move below 1.0084 cancels my alternate bullish count.
I'm not sure the scale looks right for the recent waves, or if the notation is right, but take from it what you will.....any other counts are welcome...sorry for the wide chart.
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I disagree with the bearish bias...I believe that the AUDUSD is in the last stages of a rally from 2001. The objective is just below 1.0000. Short term, there is enough evidence to indicate that a low is in place at .8549...and that the rally from .8682 is the beginning of wave 3.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10554&stc=1&d=1200077632
Hey Jamie,
Im usually on the same boat as you regarding shorter term counts but our long term counts usually seem to clash. Anyways, this is just my opinion, and Im not looking to get into a full blown argument here, but your count looks unnatural to me...especially wave B. Last I checked wave Bs were three wave structures. Yes I know, the subdivisions can be seen as 3 waves. Fine. Its possible. But to the naked eye, I just don't see it like you do. To the naked eye, in this time frame wave B is 1 wave subdivided in 3 waves. That doesn't seem right. I guess my eye is trained to see 3 wave B structures. Anyways, like I said, although your count is possible, a probable scenario is your making your bearish USD bias influence this count. Which is a natural human thing to do. Im making my bullish Usd influence my count and here it is:Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10555&stc=1&d=1200080229
Hey jsgehrke, I'd like to see a solid close above the upper trendline on my chart. Also I'm watching the daily chart for a hook reversal. As Jamie mentioned the min target if a reversal is on the cards is the previous wave 4 at 2.01.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10556&stc=1&d=1200081610
I just see no evidence that the dollar is going to rally right now. The 3 wave EURUSD declines supports a USD bearish bias in my opinion....and it is just that...opinion. Anyway..good luck and have a nice weekend.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10559&stc=1&d=1200082356
Here is the short term look at AUDUSD. A clear break from an inverse head and shoulders along with a 1st and 2nd wave. Wave 3 is in progress now.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10562&stc=1&d=1200084203
areas too watch on the pound
watch the lines drawn on the chart for a reversal higher
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audcad
Hmmmmm ... Jaime... I believe it was you that said you didnot favour a vault higher in AUDCAD when I posted my last count on the pair.... Sure looks like a nice size vault to start the bigger one has taken place already ...
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Watching EURJPY for a trend line break... This is a monthly chart of EURJPY... I posted previously looking for consolodation and a move up... I however think this pair might be at a crossroads.... Only time will tell... If we go up from here... I would expect acceleration... If we go down... It's going to be choppy action for a few years to come ... If we get across that uptrendline and start heading down... I will be watching for this count to play out over the next few years in a wave 2.
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eurjpy
The candles at the top on the monthly chart do look pretty bearish.... perhaps we are at a multi year top.... watch the trend line http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif I will look to short the pair on a close below the trendline, or I will look to get long on a close above 169.00..... We're going somewhere... Don't really care which way... Just waiting for the direction http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif
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eurjpy
Price is being pushed into a triangle....
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I just see no evidence that the dollar is going to rally right now. The 3 wave EURUSD declines supports a USD bearish bias in my opinion....and it is just that...opinion. Anyway..good luck and have a nice weekend.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=10559&stc=1&d=1200082356
Gbp/Usd
CHART UPDATE:
1st Target low reached today...............http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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Aud/Usd
looks very exhausted now ..........
kinda like running a marathon without any pryor training
Well , we'll see
hopefully we won't have to call the paramedics for assistance ...http://www.learncurrencytrading.com/fxforum/images/smilies/redface.gif
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Gbpjpy Hi Jamie,
I would like to have your opinion on GBPJPY. According to my count the wave structure for C3 is not finished yet, I think we are currently in the w(3)5 which should finish @ 210,5 before we enter corrective wC4 ?
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Error in count correted
We are in C(3)53v, right ?
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Italm, nice idea with irregular B. Frankly I have not thought it so far and counts did not give me satisfaction before. But anyway I am leaning to Jamie´s idea of rising audusd. Presented count seems to meet Elliott rules and (mention (a) of (B) almost equal (c) of (B), also TL nicely touches end of (B)) gives nice RRR (as well your count) for upward move as we ar at the start of (iii) of (C).
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