Elliott Wave EUR/USD

Here is my update for January 5, 2010. I am currently long Euro looking for a five wave up move to finish the C wave of the corrective action. My buy in, stop, and limit is on this screen shot I am attaching. I think I am right for now. My rule is to protect the profits after they pass 50 pips, and let's all get paid in 2010.

And by the way, wave C is always comprised of 5 waves.

OK,
Sorry I've been gone a while. I will try to make at least 2 or 3 posts a week. Right now I'm looking for a high in the Euro of between 1.3630 and 1.3650 to complete a wave 4 on the five minute chart. Then it will push down in 5 waves to make wave 5. After that it should make a wave 2 on the next larger scale back up into the same range, and after that it will begin wave 3 of a larger wave 3, so this should be a nice move down for at least several hundred pips.

I'll check back in tomorrow.

Dave

I quit posting in February because I realized I wasn't posting effective charts. To sum things up I thought I had Elliott Wave Theory figured out to the point I could consistently give good advice, but that wasn't the case. I have been working really hard since then and hopefully improved a lot and can get more Elliotticians to contribute to this thread. I really believe that if multiple people contribute then we can help each other be more successful. Here is my preferred count on the Euro daily chart

P.S. In my defense Look at the time frame from February through March. That is a very choppy unclear time period and even the pros were missing forecasts consistently. But I know now that is a time period to sit back and wait for things to clear up some, even if it takes a while.

BTW, one more thing. I realize there is no "holy grail" of trading, and I use lots of other Technical indicators and fundamentals as well. I believe from my trading experience that there is no substitute for experience, but I have several trading friends I talk to daily and just running ideas and observations by each other helps us all.

Here are my charts of the eur for today. I am posting a day chart and a medium and long term hour chart. It appears to me that we may be in the D wave of the triangle. I thought the C wave my be complex and more drawn out, but now I'm not so sure. Anyway, we have completed or are close to completing 5 waves down on the hourly chart which means the market should pull back up in a 3 wave formation. After that pullback will be another five waves down to complete a zigzag. I have bought the euro at 1.3439 with sl @ 1.3275 and a tp @ 1.36. My normal trading style is to lock in some profit by moving my stop loss up if the trade gets profitable.

I had a wrong count and got stopped out. I guess the lesson here is to be more patient and wait for the high probability trades. Here is my current Euro chart with two wave counts. If anyone sees another count then please post it. One count is an ending diagonal and the other count is an impulse and it is labeled in parenthesis. I'm waiting at the moment for a high probability point to enter.