Elliott Wave EUR/USD

[JahDave]

One more quick note. I don't have a chart I can post right now, but the GBP_USD looks to have bottomed out for now and it should be good for almost 200 pips to the upside.

All I can say is that I am sorry if anyone lost money on this today, but if you stayed in then I really think this going up.

 

[JahDave]

This is the move I have been waiting patiently for. If you have followed my post then you know that I almost always get in trades early, and it works out for me. Long on the EUR trades etc should be good now for several days.

 

[JahDave]

This is the move I have been waiting patiently for. If you have followed my post then you know that I almost always get in trades early, and it works out for me. Long on the EUR trades etc should be good now for several days.

At least until the Friday NFP numbers come out. Between now and Friday the EUR type trades should keep going up...

 

[JahDave]

One more note on this is that between 5 trades then I am finally positive, after 3 days. The only consolation in this is that if you you trade like I do with small margins then you can withstand some early trades.

 

[JahDave]

Usd_JPY update. I got in way to early on that one but I am posting my 1 hour chart for today. This pair is sitting on some good fib support right now at 61.8%, but since there has not been a three wave pattern down then I am thinking it will bounce here and then go down one more time to the 76.4% fib level before advancing to new highs above the 86.00 level.

That GBP kicked my Ass, but it is finally headed in the direction that I thought it would............ Did I mention I usually get in early................LOL

 

[JahDave]

But now things are going good, so buy and hold on till things turn...

 

[JahDave]

Actually the NFP report comes out Friday, so I think the risk trades will go up until at least then.

 

[JahDave]

I just hate to be wrong, but if anyone has taken my advice then hang in there baby at least until 9:00 EST, but probably at least until Friday morning after the NFP announcement.

 

[JahDave]

Let me just say that everyone that trades currency should understand how this market behaves against reason. The USD_JPY is not even close to an equitable price and it should have started up a long time ago. I will admit that the good ole USA is using a fiat currency and that our economy has almost the same debt ratio to GDP as Greece, but Japan has an even worse GDP to debt ratio and when things get bad on the world scene people still continue to buy Yen even though they don't even have any natural resources there. The point here is that you should not follow logic in the markets and only follow chart patterns.

 

[4xpipcounter]

Scalper's delight as long as your are going the right direction.

Actually the NFP report comes out Friday, so I think the risk trades will go up until at least then.

 

[JahDave]

USD_CHF update for the 1 hour chart. It's a pretty safe bet that it will go up at least one more time, but I need to see some more candles before I can say that this is an impulse wave up.

 

[JahDave]

AUD_USD update. the Aussie is flying way to high according to the technical indicators so I just sold it.

 

[JahDave]

EUR_USD update. The Euro is flying way to high just like the Aussie so I sold it as well. Now an Elliott Wave note here. This looks like wave 4 is happening right now, so these pairs will probably drop a little more and then make one more push up to new highs for wave 5. That will complete wave1 on the next larger scale, so wave 2 should begin and be a pretty large retracement of wave 1.

 

[JahDave]

USD_JPY update. At some point this pair is going back up before it makes a new low.

 

[JahDave]

GBP_USD update. The pound should make one more high tonight for a fifth wave before making a wave 2 retracement.

 

[4xpipcounter]

Dave, I got in at .9085.
BTW, Metalstrader asked you, in my thread, if your indicator had to do with the Hurst cycles. I told him it did not, but you could explain to him what it is.

AUD_USD update. the Aussie is flying way to high according to the technical indicators so I just sold it.

 

[JahDave]

Dave, I got in at .9085.
BTW, Metalstrader asked you, in my thread, if your indicator had to do with the Hurst cycles. I told him it did not, but you could explain to him what it is.

I posted back to him about my bands indicator. I'll double check your thread to be sure that it's there. BTW, I managed to get out of my bad trades I made on Sunday with a profit and everything I've made today has been good, so maybe I'm back on fire........
We'll see......

 

[JahDave]

It is there...... It's the last post on your thread.

 

[JahDave]

Uer_USD update. This is looking good for more downside. If it does not break the 1.2864 before going down one more time then I will consider that an impulse down and be looking for a pretty deep retracement on wave 2. After that then it should make another impulse wave down that will be strong. If it breaks the 1.2864 on this pullback then that will be a B wave and it should still go down to a new low but not as strong.

 

[JahDave]

It also looks good for more downside on the Ichimoku chart.