Elliott Wave EUR/USD

This is the one. Looks like there is a fork here too. I redrew a burgundy fork on your chart...don't want you to pick the wrong pivots. It is important to use highs and lows of swings, as the swing or wave generates the next swing, which the fork is projecting. You will see a big difference in the slope of the fork. Drew it by hand, so please forgive the lines if they are not exact.

All the best. You have a wonderful Elliott Wave thread.

Thanks for posting.

Hey JahDave,

Would you mind posting your chart on my thread so others can see how your first Pitchfork worked with your system of Elliott Wave? I think this is the one:

http://www.trade2win.com/boards/trad...ur-usd-13.html

Thanks in advance,

FX4Newbies

I'll be glad to do that when I get back home next Tuesday. I'm out of state right now and away from my computer with all my charts on it.

Dave, I thought my e-mail quit working. I'm subscribed to your thread, and I got no messages. LOL. I hope you're having a good trip.

Hey Pipcounter, I had a nice 24th anniversary trip with my wife. It looks like I missed some fireworks while I was gone. I'll catch up on the euro and post my charts.

Congratulations JahDave on your 24th anniversary.

Regards,

Thanks Newbies,

Here is my Euro 1 hour chart. If you will notice I have added Andrews pitchfork as an easy and accurate way to draw channels, thanks to newbies thread. The Elliott wave Theory book recommends using fibonacci levels and channeling in conjunction with wave counts, so I will be using Andrews pitchfork on my charts from here on out for my channels. Anyway, I think the euro has some more downside potential as you can see on my chart. High probability bottom targets are the 61.8 and 76.4 Fibonacci retracement levels and then the Euro should be headed back up for a while.

Looks good JahDave. It should compliment what you have already been doing very well. Just to mention though that the Pitchfork is more than a channel tool, but if it works well for you that way, so be it.

Thanks for posting.

Take care,

FX4Newbies