Elliott Wave EUR/USD

JahDave · Jun 6, 2010, 6:34pm

Here is my day and hour Euro chart for today. I think there is a very good chance this ends Wave 1 down that began at the end of November last year. If not a bottom should be in the near future. As you can see on the day chart wave 2 on the larger scale should hit somewhere around one of the fibonacci retracement levels. I think the odds favor the 50% area around the 1.35. In the shorter term I think the 1.23 level will be the first corrective push up.

JahDave · Jun 9, 2010, 7:26pm

Not much to say about the Euro.....Still waiting to confirm a bottom. I have an alternate count to what is on my chart that goes to the 1.16 range before it is finished

JahDave · Jun 10, 2010, 10:47pm

It looks like the 1.15 or 1.16 range is becoming more likely . I sold it at 1.2923

hwsteele · Jun 11, 2010, 11:19am

Quote:

Originally Posted by JahDave

It looks like the 1.15 or 1.16 range is becoming more likely . I sold it at 1.2923

DO you mean 1.2123?

JahDave · Jun 13, 2010, 6:25pm

Quote:

Originally Posted by hwsteele

DO you mean 1.2123?

sorry, I did mean 1.2123

JahDave · Jun 14, 2010, 11:35am

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.

JahDave · Jun 14, 2010, 11:41am

Quote:

Originally Posted by JahDave

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

JahDave · Jun 14, 2010, 3:28pm

This is what I think is the most likely short term scenario concerning the Euro.

Jun 6, 2010, 6:34pm	#57
JahDave Legendary Member Member Since Oct 2008 1,566 Posts	Re: Elliott Wave EUR/USD Here is my day and hour Euro chart for today. I think there is a very good chance this ends Wave 1 down that began at the end of November last year. If not a bottom should be in the near future. As you can see on the day chart wave 2 on the larger scale should hit somewhere around one of the fibonacci retracement levels. I think the odds favor the 50% area around the 1.35. In the shorter term I think the 1.23 level will be the first corrective push up. Attached Thumbnails

Jun 9, 2010, 7:26pm	#58
JahDave Legendary Member Member Since Oct 2008 1,566 Posts	Re: Elliott Wave EUR/USD Not much to say about the Euro.....Still waiting to confirm a bottom. I have an alternate count to what is on my chart that goes to the 1.16 range before it is finished Attached Thumbnails

Jun 10, 2010, 10:47pm	#59
JahDave Legendary Member Member Since Oct 2008 1,566 Posts	Re: Elliott Wave EUR/USD It looks like the 1.15 or 1.16 range is becoming more likely . I sold it at 1.2923 Attached Thumbnails

Jun 14, 2010, 11:35am	#62
JahDave Legendary Member Member Since Oct 2008 1,566 Posts	Re: Elliott Wave EUR/USD 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. Attached Thumbnails

Jun 14, 2010, 3:28pm	#64
JahDave Legendary Member Member Since Oct 2008 1,566 Posts	Re: Elliott Wave EUR/USD This is what I think is the most likely short term scenario concerning the Euro. Attached Thumbnails

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