Elliott Wave EUR/USD

I am starting this thread because I have been studying Elliott Wave theory for almost two years now and I would like to know if anyone else here is using it, and if so I would like some input. Also, for new traders I hope this thread will help you make some profitable trades even if you can't contribute right now. My first post will be a long term chart that is labeled and I will also post a shorter term chart that is labeled. One of the things I like most about Elliott Wave is that it is based on a fractal scale, so it is happening on all time frame charts. So here is what I think is happening long term and shorter term.

OK, Here are my 2 screen shots of the eur

Here is the shorter term

When wave 2 finishes on the long term chart is finished, wave three down should be a large move down.

here is my best guess for today. The eur is going to make an expanded flat and I am attaching a current screen shot of the chart. The situation with corrective waves is that there are more patterns than in impulse waves, so there fore they are harder to predict until they unfold somewhat and then you can start to narrow down what might be happening based on elliottwave rules. Right now the eur has two possible wave counts that might be happening. I will not go into it unless someone is interested.

Hey Dave,

Sorry for the outsized images, they are from the group analysis for this morning.

How about this?


If the patterns hold into the close, I'll let you decide on direction next week.

Left you a PM...


All The Best,
YL

more.

I'm posting a current chart and with my notes on it. That's the thing about corrective waves. They take more patience to trade because there are more possible patterns than impulse waves. I carried my short through the weekend for a nice profit, but have closed that position and am sitting out until this chart unfolds some more.