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 hwsteele DO you mean 1.2123? sorry, I did mean 1.2123...

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Old Jun 14, 2010, 12:25am   #61
 
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Re: Elliott Wave EUR/USD

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Originally Posted by hwsteele View Post
DO you mean 1.2123?
sorry, I did mean 1.2123
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Old Jun 14, 2010, 5:35pm   #62
 
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Re: Elliott Wave EUR/USD

JahDave started this thread It does look like the ending diagonal scenario is completed and the Euro is headed up. Also if anyone is following the CHF trade I mentioned then I think the 1.14 - 1.1450 area should give good resistance.
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Old Jun 14, 2010, 5:41pm   #63
 
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Re: Elliott Wave EUR/USD

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I have had several requests for good entry and exit points so I'm putting up my USD/CHF daily chart. I think now is an excellent time to go short. If you would like to wait another 100 or so pips that will probably be ok. I just sold a small amount with a 300 pip stop expecting it to go up to the trend line, but sometimes the E wave in a triangle undershoots or overshoots the target. My initial target is below 1.00 but I think it has potential to make the .85 range. P.S. If I am correct I will start adding to my position based on pullbacks and wave counts. Good trading everyone.

My entry is short @1.1570 with a stop @1.1850 and a limit @ 1.00
Here is the CHF post from earlier
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Old Jun 14, 2010, 9:28pm   #64
 
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Re: Elliott Wave EUR/USD

JahDave started this thread This is what I think is the most likely short term scenario concerning the Euro.
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Old Jun 16, 2010, 10:49pm   #65
 
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Re: Elliott Wave EUR/USD

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I have had several requests for good entry and exit points so I'm putting up my USD/CHF daily chart. I think now is an excellent time to go short. If you would like to wait another 100 or so pips that will probably be ok. I just sold a small amount with a 300 pip stop expecting it to go up to the trend line, but sometimes the E wave in a triangle undershoots or overshoots the target. My initial target is below 1.00 but I think it has potential to make the .85 range. P.S. If I am correct I will start adding to my position based on pullbacks and wave counts. Good trading everyone.

My entry is short @1.1570 with a stop @1.1850 and a limit @ 1.00
I am exiting this trade at 1.13 with 270 pip profit. I think the USD is due for a large bounce in the next few weeks and I'll look to get back in later but for now I'm taking profit and sitting out.
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Old Jun 16, 2010, 11:00pm   #66
 
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Re: Elliott Wave EUR/USD

Dave, excellent thread! I don't use the Elliot wave as part of my methodology, but I like reading the viewpoints of thsoe that are good at using it.
It is interesting you are showing a move into the 1.35's. I use the ichimoku for trading with, and I have been showing 1.2698, which is the daily kijun. Once there, I was going to reevaluate for a possible move to the tenken at 1.3227.
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Old Jun 17, 2010, 3:22am   #67
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Thank you for the nice comments 4x.
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Old Jun 17, 2010, 4:13am   #68
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Here is my daily and hourly Euro chart today. It looks like it did go just a little further down than I thought, but after such a large drop, I was pleased to pick a bottom within 150 pips. After hitting the 1.23 area the Euro is pulling back which was expected as well. I will be looking for a good spot to get back in long in the next several days.
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Old Jun 17, 2010, 1:44pm   #69
 
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Re: Elliott Wave EUR/USD

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Here is my daily and hourly Euro chart today. It looks like it did go just a little further down than I thought, but after such a large drop, I was pleased to pick a bottom within 150 pips. After hitting the 1.23 area the Euro is pulling back which was expected as well. I will be looking for a good spot to get back in long in the next several days.
I was early on the USD_CHF call last night and the EURO call last night. The lesson here would be I should have had an updated wave count on the pair, which I did not have and I should have moved my stop down instead of getting out altogether. Anyway Here are some updates to the charts I posted last night.
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Old Jun 17, 2010, 2:48pm   #70
 
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Re: Elliott Wave EUR/USD

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I have had several requests for good entry and exit points so I'm putting up my USD/CHF daily chart. I think now is an excellent time to go short. If you would like to wait another 100 or so pips that will probably be ok. I just sold a small amount with a 300 pip stop expecting it to go up to the trend line, but sometimes the E wave in a triangle undershoots or overshoots the target. My initial target is below 1.00 but I think it has potential to make the .85 range. P.S. If I am correct I will start adding to my position based on pullbacks and wave counts. Good trading everyone.

My entry is short @1.1570 with a stop @1.1850 and a limit @ 1.00
Here is a longer term update on the CHF. The wave structure on the down move is corrective and not impulsive because of the overlap between waves. Therefore this looks more like a zigzag down. Corrective also means that my initial forecast down to 1.00 or below is invalidated and you can see the updated expectations on my chart. This pair should not go below 1.09.
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