Elliott Wave EUR/USD

[JahDave]

Thats what we love to hear :clap:

I'll be starting a journal of my own on monday i think, i'll email you in a bit

Don't get too excited over there Doom............So far tonight the Usd may very well be in an up corrective pattern instead of an up impulse patter.n..................It's still too early to tell for me...........there is still upside for the USD, but it may be corrective.........I will know for sure after some more candles.................

Good trading,
JahDave

 

[JahDave]

I have been studying RSI lately and it is the best indicator I have found so far..........It is forward and does not lag if you know how to read it................It works on any market.......and on any time frame.........I have even used it on 3 minute charts and the weekly charts and it works the same..........I suppose I will be studying it for several years, to learn everything I can about the RSI.............I have a book by Constance Brown called "Technical Analysis for the trading professional" that I got from winning a trading competition here at t2w.............That's funny because most people here are very anti-tech, but this is the best technical book I have ever read......Anyway the RSI has given me the best signals that I have ever seen and I only have a very basic understanding so far.............

 

[JahDave]

The USD_CHF is still good for more pips......Tweezer bottoms............

 

[JahDave]

OK Everyone,

Here is the AUD_USD 1 hour chart. The 1.3800 area was the resistance for this pair on 3 different time frames and the hour chart was a Fibonacci 3.618 extension from the "A" wave, so it can't extend from here without a sizeable pull back. I had a market order in to sell at 1.3800, so I am in short. Based on the wave structure, I don't think this is an impulse wave up but rather a triple 3, and a triple pattern is the maximum allowed by Elliott Wave rules. This means that this pair should go much lower and make at least a new medium term low.

 

[targus+]

OK Everyone,

Here is the AUD_USD 1 hour chart. The 1.3800 area was the resistance for this pair on 3 different time frames and the hour chart was a Fibonacci 3.618 extension from the "A" wave, so it can't extend from here without a sizeable pull back. I had a market order in to sell at 1.3800, so I am in short. Based on the wave structure, I don't think this is an impulse wave up but rather a triple 3, and a triple pattern is the maximum allowed by Elliott Wave rules. This means that this pair should go much lower and make at least a new medium term low.

Hi J

For us lesser mortals we have to rely on other things and according to my techs this pair, aud/usd, is going up.:whistling

 

[JahDave]

Hi J

For us lesser mortals we have to rely on other things and according to my techs this pair, aud/usd, is going up.:whistling

Why are you picking on me......LOL......I'm just putting out my charts and thoughts here.........I hope you are well......I am not always right...........I am wrong often,,,,,but this one looks good........

JahDave

 

[JahDave]

Here is a positive reversal showing up on the USD_JPY hour chart. Even though the TRIX/Fractal is showing sell, I am buying it because the RSI seems to be a better signal.....

 

[targus+]

Why are you picking on me......LOL......I'm just putting out my charts and thoughts here.........I hope you are well......I am not always right...........I am wrong often,,,,,but this one looks good........

JahDave

Hello J

Lol, I admire your charts, I for one could never aspire to understand, so I rely on software and harmonic patterns, which tells me etc., sorry J.:clover:

 

[JahDave]

Last post for tonight. The Euro has a very bearish head and shoulders on the RSI and the TRIX/Fractal has a sell signal here. I went short on this pair at 1.4378.

Good trading Everyone,,,,,,,
JahDave

 

[JahDave]

Hello J

Lol, I admire your charts, I for one could never aspire to understand, so I rely on software and harmonic patterns, which tells me etc., sorry J.:clover:

I am reading the harmonic trading book currently. I have noticed something about harmonic trading and pm me if you would like to know what I have noticed........

 

[targus+]

Last post for tonight. The Euro has a very bearish head and shoulders on the RSI and the TRIX/Fractal has a sell signal here. I went short on this pair at 1.4378.

Good trading Everyone,,,,,,,
JahDave

You too J

Yes eur/usd looks short, me too..good luck.

 

[JahDave]

Here is the USD_CHF yet once again. I have never seen a pair so lopsided since I have been trading. I know I have posted several times I thought that it was at a bottom, and I was wrong.......I went to a longer view and I hope I have a bottom finally. The 2 numbers I have are .7481 and .7378........This is close and and the first level has been hit already, so I am long here with a small position..........The only good news is that after an extended downmove, the reversal should be very strong..........

 

[JahDave]

Here is the USD_CHF yet once again. I have never seen a pair so lopsided since I have been trading. I know I have posted several times I thought that it was at a bottom, and I was wrong.......I went to a longer view and I hope I have a bottom finally. The 2 numbers I have are .7481 and .7378........This is close and and the first level has been hit already, so I am long here with a small position..........The only good news is that after an extended downmove, the reversal should be very strong..........

We had a strong move up and I think wave 1 is complete so I have taken this pair short for hopefully several hundred pips.........................After this short move is over I will be taking a long position again for hopefully a thousand pips or so............

 

[JahDave]

Here is another update on this pair..............I was very hopeful for a 5 wave reversal to go to 1.40................................ I did make some money on the up move, but on Friday I went short because the first move up was a three wave pattern................The first move up was in 3 waves,,,,,,,,,,so that means we have not bottomed out to a full reversal yet..........It should go lower beyond all logic...................I think this should mean that Switzerland will abandon the Euro.......................

 

[JahDave]

The USD_Chf should go down for a while (500 pips)..................to at least .8870...............After that point I will be long for a long time............
.....................................

 

[pboyles]

Has anyone tried Euro Daily Trader from theforexclub.eu?

Yes, its terrible, you will lose all your money, dont touch it.

 

[JahDave]

OK Everyone,

Sorry I had to take a few weeks off, but I have been self employed now for 27 years and things have been very busy for me in my brick and mortar business. Also, I went to the Futures and Forex show in Las Vegas last week and signed with a company to trade for them..........(That is exciting for me. I have been contemplating this for more than 2 years now and after speaking in person with the president of the company, then I decided to go for it.)......I will post here about the company, but it will be several months because I don't start their training until November.

Tonight I am posting my EUR_USD charts on multiple levels. On the day chart we have a buy, on the 3 hour chart we have a sell and on the 1 hour chart we have a buy. I just bought this looking for about a 500 pip gain with a 200 pip stop loss. That is not the best odds I have ever had, but the odds are good, and I will move my stop loss up in 10 or 20 hours if things go my way. Anyway the charts are attached

 

[JahDave]

Here is another update on this pair..............I was very hopeful for a 5 wave reversal to go to 1.40................................ I did make some money on the up move, but on Friday I went short because the first move up was a three wave pattern................The first move up was in 3 waves,,,,,,,,,,so that means we have not bottomed out to a full reversal yet..........It should go lower beyond all logic...................I think this should mean that Switzerland will abandon the Euro.......................

So, beyond all logic as I stated here the Swiss government said that they will peg the Franc to the Euro.(I didn't see that one coming)........LOL.......They will abandon this at some point, but for now this will drag the Franc lower across the board.

 

[JahDave]

Anyway,,,,,,,,I am back and I will try very hard to be more faithful about posting,,,,,,,,,,,,,,for my sake and hopefully other people's as well.......

 

[JahDave]

It does look like 1.3450 area will be the ideal area to buy the EUR_USD...