Elliott Wave EUR/USD

[Doomberg]

Will be keeping an eye on this pair, seems very interesting

 

[JahDave]

Trading is a very solitary and serious business for me.............I only post here to be less solitary and hopefully help some other traders out................Time frames matter the most and trading systems are right up there as well,,,,,,,,,,,,,,,I can spot the long term ones better than anyone I ever met, but please don't ask me about the 1 minute charts.............

Good Trading,
JahDave

 

[JahDave]

I predict that Elliiotte Wave will become very popular in the next several years when everyone will be trying to time the markets,,,,,,,,,............Retail investors will have the power, if they know what to do with it,,,,,,,,,,,,,,,,,,,,,,,,,

 

[Doomberg]

I may start looking in to EW myself... have had a few recommendations. Also this EUR/USD does look like its going to drop any time soon, i have had my eye closely on it for a few months now, the last big peak in November 2009 was slightly lower than the one in July 2008 and if this one were in right now follows suit we could be in for a gooden... lets hope so

 

[JahDave]

I have been waiting for this reversal a year now............I can't say for sure that it has happened for real yet, but it has happened on the 5 minute charts............I will be watching closely on the hour charts and then the day charts for total confirmation..... When I am sure then I will be very aggressive to the downside for anything against the USD.......

Good trading Everyone,
JahDave

 

[targus+]

Morning Jahdave

It looks like a bounce of the dailys for a third touch on the trendlines to me for both eur/usd and gbp/usd, but what do I know.:|

 

[JahDave]

Morning Jahdave

It looks like a bounce of the dailys for a third touch on the trendlines to me for both eur/usd and gbp/usd, but what do I know.:|

You were right Targus.......That is why I said I will be watching the hour and day charts for confirmation.......It didn't happen quite yet, but I still say that it is very close.............The main thing to remember is that there can always be an extension on an impulse wave and if you get caught on the wrong side of that then it is painful.......That is why you need a system with multiple indicators, and chart multiple time frames to confirm reversals.....

 

[targus+]

You were right Targus.......That is why I said I will be watching the hour and day charts for confirmation.......It didn't happen quite yet, but I still say that it is very close.............The main thing to remember is that there can always be an extension on an impulse wave and if you get caught on the wrong side of that then it is painful.......That is why you need a system with multiple indicators, and chart multiple time frames to confirm reversals.....

eur/usd 1.3400 area? I think I will stay out watch and wait for the ride back up, especially with the gbp/usd.

 

[JahDave]

eur/usd 1.3400 area? I think I will stay out watch and wait for the ride back up, especially with the gbp/usd.

It all depends on the time frame you are trading.......long term charts look like The Euro is going into wave 4 and after that it will make the last high it will make for years to come, or maybe even forever...........I have my doubts that the Eurozone will be able to stay together.........For what it's worth, here are several long term Euro charts..........The Euro is flying very high on nothing except problems...........All of the indicators say so, but I still think there will only be a dip and then another high because of the Elliott Wave count.......Although if things degrade like I think they will the fifth wave may be truncated...............Time will tell this..........

Good trading,
JahDave

 

[JahDave]

On the hour charts, every chart I have is telling me that wave 4 is over and all the USD pairs are getting ready to make their last run up to new highs...........

 

[JahDave]

They are sitting on channel support at the moment........If they break through then the uptrend against the USD is over, but I am expecting one more push up..............

 

[JahDave]

The Kiwi looks like it has already gone,,,,,,,,but no other pairs yet..............

 

[JahDave]

We will see what the Aussie does in the next several hours, but if you count the wave 1 moves then you get 9 and that is impulsive..............5,9, and thirteen is impulsive and 3,7 and eleven is corrective........I will still be watching the day charts for confirmation, but if this pair does not break the trendline tonight then I will be surprised..............

 

[targus+]

JaDave

Fantastic charts. I entered short on the gbp/usd at 1.6604 for a bounce at somewhere around 1.62/1.6100 area when she will resume the bull, so far so good.

I love the elliot wave, I will have to at some formal training on it though, it is too difficult for me, in the meantime I will have to keep drawing the trendlines.

 

[JahDave]

The Kiwi looks like it has already gone,,,,,,,,but no other pairs yet..............

The Kiwi 55 and 100 hour moving average has broken through the 200 moving average line........Wow......The first time in 6 months...............I always say there are clues in the charts.................If we can find them then we will make money........... To quote my friend Paul,,,,,,,,,,,,,,,Let the news be the news and let the charts speak for themselves..............I added that last part.............LOL.........

 

[JahDave]

I will bet that the Kiwi will go back up to one of those moving average lines soon and that will give another clue as to how hard it will fall..........watch these three trend lines 55, 100, and 200

 

[JahDave]

All three moving average lines of mine are chasing candles right now..........at some point they will catch them to the upside...............at this point I say we have reversed the up trend and have started a downtrend for the Kiwi....................If this is the case then I think we will be in a downtrend for several months..............The only level left to hold is the daily.............I will check that and post my chart................

 

[JahDave]

We have a totally different picture on the day charts..................This looks like a wave 4 corrective wave and then new highs.............That makes some sense to me because the western currencies are in a wave 2 on a huge scale and the Asian currencies are in a wave 2 on a smaller scale.................

 

[JahDave]

Look at the Euro here.............It has made 25 pips progress in the last 5 trading days................Usually the big boys play us, but look at the volume.................It is through the roof to the upside, but it hasn't gained much...............the last 5 daily candles are dojis................I'm selling here...........

 

[Doomberg]

Wow today has been a big drop, i missed this... certainly took a nose dive, and lol were you drunk last night ha? post 624 haha it was the best post i have ever read,

P.s the candlesticks book is great