Elliott Wave EUR/USD

[JahDave]

Here are some of my current Euro charts. My overall opinion is that at the absolute minimum, the Euro is going down below 1.40 on this run. With that being said as you can tell on every hourly chart, the euro is due for a bounce soon. My trading strategy at this point will be to add to my already short position when I am fairly confident that the bounce is over. Please notice that the daily indicators are fully entrenched on a down path now, but the hourly indicators are showing oversold. My opinion on this is that after the bounce to satisfy the hourly indicators is over, then the daily and hourly and 4 hour momentum indicators should all be lined up in unison for a very strong down move. This also will coincide with my Elliott Wave count, because I am looking for a wave 3 of wave 3, and this would indicate a very strong move down.I am putting up a few day and hourly charts. Please ask if you have any questions.

 

[Doomberg]

Im glad to see its coming down now, i closed my position days ago damn it lol

 

[targus+]

On the 4hr t/f we have a bull engl which could take the euro to 1.4462 and poss heading back up somewhere towards 1.4695?

 

[JahDave]

Here is today's NZD_USD hour and day chart. The Kiwi has been flying high lately, but according to my charting, that has come to an end. It has completed a good Elliott Wave count and now has reversed. It should be heading into the daily cloud in the next week or so. Expect a bounce at the top or bottom of the cloud and the next move down after that should break through the bottom of the cloud. Also the stochastic and fractal combined are showing a good short entry on the day and hour chart. There is a little room up on the hour chart, but not much. This is an example of using other indicators in conjunction with Elliott Wave. I will restate again that EW is great tool to let you know where you are in the progress of a move and whether the next move will be up or down.

 

[JahDave]

On the 4hr t/f we have a bull engl which could take the euro to 1.4462 and poss heading back up somewhere towards 1.4695?

The first thing I can say is that from a daily EW perspective it should not break 1.4939 which is the top of wave 2 on a large scale. My expectations are that it will peak between 1.4525 and 1.4550. Here are a few of my charts.

 

[FX4Newbies]

Here are some of my current Euro charts. My overall opinion is that at the absolute minimum, the Euro is going down below 1.40 on this run. With that being said as you can tell on every hourly chart, the euro is due for a bounce soon. My trading strategy at this point will be to add to my already short position when I am fairly confident that the bounce is over. Please notice that the daily indicators are fully entrenched on a down path now, but the hourly indicators are showing oversold. My opinion on this is that after the bounce to satisfy the hourly indicators is over, then the daily and hourly and 4 hour momentum indicators should all be lined up in unison for a very strong down move. This also will coincide with my Elliott Wave count, because I am looking for a wave 3 of wave 3, and this would indicate a very strong move down.I am putting up a few day and hourly charts. Please ask if you have any questions.

Hello JahDave,

Nice to see you using the Pitchfork. I know you have been checking it out for some time. How do you like it? Do you like how it is working with your Elliott Wave?

FX4

P.S. Did Pipcounter get you into Ichimoku?

 

[JahDave]

Hello JahDave,

Nice to see you using the Pitchfork. I know you have been checking it out for some time. How do you like it? Do you like how it is working with your Elliott Wave?

FX4

P.S. Did Pipcounter get you into Ichimoku?

Paul did get me into Ichimoku and You did get me into pitchforks. I have developed a very good trading system using about 6 different things.........I hope your trading is doing well......I am still checking you out weekly, but I have not commented lately, on your thread.

Take care,
Dave

 

[JahDave]

Hello JahDave,

Nice to see you using the Pitchfork. I know you have been checking it out for some time. How do you like it? Do you like how it is working with your Elliott Wave?

FX4

P.S. Did Pipcounter get you into Ichimoku?

I am using the Andrews pitchfork, Ichimoku, and Stochastic,,,,,,to verify my wave counts and it works well.

 

[FX4Newbies]

I am using the Andrews pitchfork, Ichimoku, and Stochastic,,,,,,to verify my wave counts and it works well.

Very good. Two or three solid tools to confirm is the best imho...

Take good care,

FX4

 

[JahDave]

It looks like the Euro is going down again short term. I still think the odds are good for it to bounce back to the 1.4525/1.4555 area. Here are a few charts for today. I am going to post a fibo chart that I don't usually post because I have fibo time, retracement, expansion, & arc...........It probably is overwhelming if you don't study Fibonacci.........Anyway, I hope ya'll like it and it helps you see another useful indicator page. Also the daily volume has been very week for the move up which looks good for more strength down, and the stochastic is pointing down. One last note on the Andrews Pitchfork,,,,,,,,,If it breaks through the downside then it should go lower faster......

 

[JahDave]

My pick to go down tonight is the Aussie..............It has bounced off the top of the cloud twice now and EW says that it will go down from here before it goes back up.............

 

[JahDave]

My Elliott Wave count shows the Euro in wave 4 at the moment. Usually wave 4 is more sideways consolidation than a deep retracement, so I am not looking for big move up tonight in the Euro. I am posting up a few hour charts, and they are all showing oversold on the technical indicators, so I am expecting a move against the USD tonight across the board. Also, my post last night said that that if it broke the pitchfork trendline then it should accelerate to the downside and that did happen.

 

[JahDave]

I missed things a little on my last forecast I had the count labeled, but the channel looked so nice going down, then I changed my count up. I was looking for some more down and then back up into the area it is in right now......This is probably the entire correction (topping at 1.4432) and now it should start going down impulsively, (in 5's), but this could be just the "A" leg of a large flat...........At any rate it should see some more down and can be determined from there if this is impulsive or corrective...........Also the stochastic fractal has been giving good signals throughout this entire move (up & down) and right now it says sell..........

Good Trading,

Dave

 

[JahDave]

I missed things a little on my last forecast I had the count labeled, but the channel looked so nice going down, then I changed my count up. I was looking for some more down and then back up into the area it is in right now......This is probably the entire correction (topping at 1.4432) and now it should start going down impulsively, (in 5's), but this could be just the "A" leg of a large flat...........At any rate it should see some more down and can be determined from there if this is impulsive or corrective...........Also the stochastic fractal has been giving good signals throughout this entire move (up & down) and right now it says sell..........

Good Trading,

Dave

I said last night that I thought the Euro had topped, but it didn't quite top last night,,,,,,as usual I was in a little early,,,,but not that much........All of my Euro charts are showing a lot of Euro weakness,,,,,,,,,although at the moment it should be catching about a 40 or 50 pip bounce............After this is over then it should accelerate to the downside............ It has a lot of room to run to the downside and not much room to move up...........Here are the charts.............Ask any questions you may have about charts and indicators that are on them..........Of course I don't make 100% profitable trades, but every month I improve and the odds are greatly in my favor these days,,,,,,,,,and I can only see things improving more........I am probably 75% profitable now and I can see better than 90% profitable in the future..........If the Euro goes up to 1.4441 then my count is wrong..............

 

[Doomberg]

Good luck with this JahDave... i've just placed a short myself on the EUR/USD... if it bounces up a bit i'll be ok as i've given myself a good stop, lets hope for a good drop on this

 

[JahDave]

Good luck with this JahDave... i've just placed a short myself on the EUR/USD... if it bounces up a bit i'll be ok as i've given myself a good stop, lets hope for a good drop on this

This move may go up 40 or 50 pips and after that should drop at least 4 or 500 in the next move down...............keep it over the weekend because things in the eurozone will keep getting worse............

 

[JahDave]

This move may go up 40 or 50 pips and after that should drop at least 4 or 500 in the next move down...............keep it over the weekend because things in the eurozone will keep getting worse............

That didn't take long.............The Euro broke right through the Ichimoku cloud on the first try............That's a lot of down momentum.......

 

[Doomberg]

That didn't take long.............The Euro broke right through the Ichimoku cloud on the first try............That's a lot of down momentum.......

Yes, its always nice to wake up to profits :clap:

 

[JahDave]

The Euro has had a large wave 2 bounce, but it is under pressure again tonight......I am scalping tonight and I am posting up a 3 minute chart that I just sold from........

 

[JahDave]

This move up looks kind of impulsive, but that is deceiving, because it is really a triple 3, and that is a corrective pattern.