Elliott Wave EUR/USD

This is a discussion on Elliott Wave EUR/USD within the Trading Journals forums, part of the Reception category; Originally Posted by 4xpipcounter Dave, you answered part of my e-mail with regards to the indicators. Don't those red and ...

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Old Jul 8, 2010, 5:17am   #136
 
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Re: Elliott Wave EUR/USD

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Originally Posted by 4xpipcounter View Post
Dave, you answered part of my e-mail with regards to the indicators.
Don't those red and green dots lag? In other words, they are placed about 2 candles after the event.
It still has me tied in knots
I won't say where I got that from in an open forum.
Also this is something new I'm trying out. I didn't like what I was getting at all from the default setings so I decided to do some tweeking. In my opinion if something lags just a little it's not the end of the world as long as it is reliable and you get most of the move. I'm pretty sure there is no perfect system out there, so I'll be pretty happy to be right almost all of the time. Also I wouldn't follow this alone. You know how much I believe and use EW and Fibo.
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Old Jul 8, 2010, 5:56am   #137
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Back on topic with the euro. I'm posting up the hourly euro chart and I left the green lines where they were from yesterday. I am more satisfied with the euro making it right to the 1.2700. I think this is a probable area for a nice pullback. Also everyone here always wants to know if anyone doing a thread is trading live so I have my entry stop and limit lines on my chart. If I see an almost completed wave count at the 38.2% level then I will take the money there and play the bounce up and then reshort, so don't be surprised if my buy sell lines move. There will probably be some sort of bounce there before going further down. And finally if there are other Elliotticians out there then see if you can tell what is wrong with the way I have the i, ii, iii, iv, v counted for the bigger C wave. The ending level should be right here around the 1.2700 so don't think I have a bad target, it's just that technically the count is not right, so if anyone else is learning elliott wave I don't want to mess you up. I can explain why it's wrong but it's gonna get lengthy and I'm not going to spend the time unless it will help someone else.
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Old Jul 8, 2010, 7:10pm   #138
 
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Re: Elliott Wave EUR/USD

Dave, I'm curious. Would you say through the eyes of EW that the recent move of the GBP/USD looks impulsive, and the reversal has finally started?
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Old Jul 9, 2010, 4:34pm   #139
 
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Re: Elliott Wave EUR/USD

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Originally Posted by 4xpipcounter View Post
Dave, I'm curious. Would you say through the eyes of EW that the recent move of the GBP/USD looks impulsive, and the reversal has finally started?
IMO, I am 99.9% certain that this wave structure on the EUR_USD and the GBP_USD and the AUD_USD is all corrective. It may be in 5's but they are all composed of of 3's and 7's of a smaller scale. That is what I was alluding to in my last post about my euro chart not being counted properly. I still think we are going to get a nice pullback like I've been saying (1.24 range euro),and then more upside.
I just got into Peurto Rico last night so I won't be posting much until I get back home next Wednesday. Have a great weekend everyone.

P.S. if you measure the first wave up on the pound and compare it to the last one then you will notice the last one is almost exactly 161.8% of the first one.
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Old Jul 16, 2010, 3:39am   #140
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Well what can I say about the Euro other than it has had strong momentum behind it. It did make the drop after it hit 1.27 like I thought it would, but I was surprised it was such a small pullback. I really was expecting it to go down to 1.24 range or lower. I still think the 1.35 range is the highest probability area for this large correction to be over. On my shorter term chart I have one resistance and three fibo support lines drawn. The Euro should drop to one of these support lines before advancing to new highs. I think the charts are pretty clear, but please ask any questions.
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Old Jul 16, 2010, 2:30pm   #141
 
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Re: Elliott Wave EUR/USD

Dave, I agree, this whole thing has blown my mind. Believe it or not I went short cable at 1.5273, thinking there was going to be a much greater pullback. I had to settle for +17 pips. The moves has been out of control.


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Well what can I say about the Euro other than it has had strong momentum behind it. It did make the drop after it hit 1.27 like I thought it would, but I was surprised it was such a small pullback. I really was expecting it to go down to 1.24 range or lower. I still think the 1.35 range is the highest probability area for this large correction to be over. On my shorter term chart I have one resistance and three fibo support lines drawn. The Euro should drop to one of these support lines before advancing to new highs. I think the charts are pretty clear, but please ask any questions.
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Old Jul 20, 2010, 3:21am   #142
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Not much happening with the euro right now. I think every currency is waiting on the US stock market session tomorrow. I found a euro day chart that I drew projected waves on from June 17th. I'm posting a current daily chart from today and the June 17th chart. That June chart is on post #72 of this thread as well. I haven't touched the red projected lines since I drew them over a month ago. I think this makes a pretty good case for EW and technical charting as a whole. Of course no one could ever make 100% accurate predictions, but you can certainly stack the odds in your favor of knowing where markets are heading.
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Old Jul 21, 2010, 3:16am   #143
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Here are my updated euro charts tonight. There is still not much movement and I am still looking for the projected fibonacci levels to be hit. So I am still looking for the euro to drop before it makes new highs.
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Old Jul 28, 2010, 2:29am   #144
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Updated Euro charts. Still not much has changed in my opinion for the Euro. I'm still looking for a nice pullback any time now before the Euro makes the final run up.
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Old Jul 28, 2010, 2:31am   #145
 
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Re: Elliott Wave EUR/USD

JahDave started this thread If the Euro has any immediate upside potential left, then it should stall out around the 1.31.
(Which is the 61.8%)
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Old Jul 28, 2010, 3:13am   #146
 
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Re: Elliott Wave EUR/USD

That's why I have such a high degree of respect for your methodology.


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Not much happening with the euro right now. I think every currency is waiting on the US stock market session tomorrow. I found a euro day chart that I drew projected waves on from June 17th. I'm posting a current daily chart from today and the June 17th chart. That June chart is on post #72 of this thread as well. I haven't touched the red projected lines since I drew them over a month ago. I think this makes a pretty good case for EW and technical charting as a whole. Of course no one could ever make 100% accurate predictions, but you can certainly stack the odds in your favor of knowing where markets are heading.
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Old Jul 28, 2010, 3:16am   #147
 
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Re: Elliott Wave EUR/USD

How do you like that? I have the same exact view. I got the drop to about 1.2648.


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Here are my updated euro charts tonight. There is still not much movement and I am still looking for the projected fibonacci levels to be hit. So I am still looking for the euro to drop before it makes new highs.
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Old Jul 28, 2010, 3:20am   #148
 
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Re: Elliott Wave EUR/USD

Your target looks more ideal than mine only because it would make for a more explosive reversal.


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Updated Euro charts. Still not much has changed in my opinion for the Euro. I'm still looking for a nice pullback any time now before the Euro makes the final run up.
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Old Jul 29, 2010, 6:13pm   #149
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Here is the current dollar index daily chart. I'm expecting the dollar to start back up any time now.
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Old Jul 29, 2010, 11:20pm   #150
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Re: Elliott Wave EUR/USD

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Here is the current dollar index daily chart. I'm expecting the dollar to start back up any time now.
I agree with you. I've noticed 3 month cycles or close with stocks normally around quarterly results. Dow has met resistence around 10600. GBPUSD and EURUSD may top out around here. I predict a strong dollar soon.
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