Elliott Wave EUR/USD

[JahDave]

Anyway, I have had a really good week of trading. if anyone wants me to post all my entries and exits, then I will,,,,,,,,But of course I can't guarantee you the same results. I just want everyone to be profitable...

 

[MaxGriddy]

I would like to see a posting of a P/L blotter. Nothing is more inspiring than a picture of a big fat profit for the day. Anyway, just curious how much you are making.

Don't stop your chart analysis, though. They are very informative and I always look forward to looking at them.

 

[pssonice]

"if anyone wants me to post all my entries and exits, then I will"

pleaze, dont hesitate to post all your entries and exits IN TIME.

 

[JahDave]

Here are my euro charts today. It looks like the Euro is in a fourth wave on a small scale and only has the fifth wave down to complete wave 1 down on a larger scale. I have some thoughts on how the Euro charts have played out so far. First, I have been surprised that wave 1 was this large of a decline. Second, wave three can never be the shortest wave in an impulse sequence. This means it can be shorter than wave 1, but wave 5 would have to be shorter than 3. Usually wave 3 is the longest and strongest wave in the pattern, so I suspect wave 3 will be longer than wave 1. Also as soon as wave 5 finishes down and wave 1 on the larger scale is complete, wave 2 on the next larger scale will begin. According to Elliott Wave Guidelines, wave 2 will probably end around the area of wave 4 on a smaller scale, which should be around the 1.35 area, so that will be about 1500 pips back up from the bottom

 

[Blaiserboy]

Thanks for the work you are putting into this thread...........

 

[JahDave]

Thanks for the work you are putting into this thread...........

Thank you for your kind comments, I know I will never be correct 100% of the time, But I hope my thread helps others to be more profitable.

 

[JahDave]

Here is my Euro day chart today. Things have played out pretty much like the charts are showing. I would love to be more exact and am working hard to get there, but even Elliott Wave Theory has limitations. Anyway. I think there will be one more push down in the Euro before Wave 1 on a larger scale is completed to the down side, and this will take another week or several weeks. After that wave 2 on a larger scale will begin.

 

[Blaiserboy]

Is great to be able to see what someone else thinks might happen.....

BTW do you measure each future move with fib tool.....?

sorry for the dumb ques...

 

[JahDave]

Unfortunately I have been too lazy to do that all the time, But it should always be done. I follow wave counts always, but I don't always use Fib.

 

[JahDave]

Here is my chart for today and things are going as predicted. BTW Blaiser, I measured wave three with a fib projection and wave 5 has already passed the 161% mark and the 200% would put a bottom in at about 119.40 and 261% will put a bottom in at about 113.50. I think the 119 area is a probable area for a temporary bottom.

 

[JahDave]

One More possibility I see is that the euro may have already bottomed out. I don't think this is likely, but I'm attaching my hourly chart showing this and that equates to where the iii is on the daily chart.

 

[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

 

[JahDave]

Here is my latest Daily EURO chart. Not much has changed and I don't think it has much more downside potential.

 

[pssonice]

EUR/USD, it has no downside risk at all

.

 

[JahDave]

Here is my Euro 1 hour chart. I've been waiting to get some kind of clarity from an Elliott Wave perspective and I think an ending diagonal is a good possibility. The Euro must go below the 1.2142 for this count to be valid.

 

[JahDave]

This Euro looks ending diagonal textbook complete with overshooting the mark on wave 5 which is normal in a triangle or diagonal. I just bought at 1.2018 with a stop at 1.19 and limit at 1.26. Also the RSI is showing oversold.

 

[JahDave]

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]

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]

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

 

[hwsteele]

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?