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eur/jpy 1500 pips oppertunity [risng wedge]

This is a discussion on eur/jpy 1500 pips oppertunity [risng wedge] within the Forex Discussion forums, part of the Forex Markets category; hallo traders.. ive attached a daily chart of the eur/jpy where we can see its in a rising wedge formation.we ...

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Old Jun 7, 2008, 7:54am   #1
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eur/jpy 1500 pips oppertunity [risng wedge]
hallo traders..
ive attached a daily chart of the eur/jpy where we can see its in a rising wedge formation.we all its a trend reversal setup. you can see ive got 4 legs in the wedge and we looking for the final leg to 5 . can anyone help me out with the elliot wave formula,where possible leg 5 will be. can you also tell me how do you work the final leg out.
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Old Jun 7, 2008, 9:51am   #2
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Re: eur/jpy 1500 pips oppertunity [risng wedge]
"fourkinghell" ?!

I love your name :-)

Nearly had a SCOTS moment (Splattered Coffee On the Screen) :-))

P.S: apologies for being off-topic, and no offence meant for any Scots reading this!
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Old Jun 7, 2008, 10:17am   #3
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Re: eur/jpy 1500 pips oppertunity [risng wedge]
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Originally Posted by chilltrader View Post
"fourkinghell" ?!

I love your name :-)

Nearly had a SCOTS moment (Splattered Coffee On the Screen) :-))

P.S: apologies for being off-topic, and no offence meant for any Scots reading this!
my poker screen name on many sites
Last edited by fourkinghell; Jun 7, 2008 at 2:58pm.
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Old Jun 8, 2008, 7:32am   #4
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Talking I Don't do Elliot Waves
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Originally Posted by fourkinghell View Post
hallo traders..
ive attached a daily chart of the eur/jpy where we can see its in a rising wedge formation.we all its a trend reversal setup. you can see ive got 4 legs in the wedge and we looking for the final leg to 5 . can anyone help me out with the elliot wave formula,where possible leg 5 will be. can you also tell me how do you work the final leg out.
Fourking well look at the chart will you (sorry mate had to do it - no offence )

Like I mentioned in the title I don't do Elliot Waves. I pulled up the chart to take a look at it and saw that further over the left there's an all-time high just below 169.00, and an interim high just below 168.00. So I reckon you should expect the market to come to you thereabouts regardless of any of this 1-2-3-4-5 jiggery-pokery.

That's my take on it - I don't even know what Elliot Waves are!
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