Elliott Wave EUR/USD

[JahDave]

Hello, how are you JahDave..... i have just opened a short position 10 minutes ago at 1.4427
im thinking that it may of peaked now, i thought it had peaked this time yesterday but obviously
not, but hey lets hope it comes down and lets hope it comes down BIG :clover:

Hi Doom,

The Euro hit 1.4437 about 2 hours ago and that is right on my target. I am short as well..........Even if this goes down and then back up we should be able to make some profit.....My original statement about a month ago was that I thought the Euro could make the 1.47 area...........I think that will not happen at this point, but if this next move down goes in three's instead of five's then I will change my position and will be looking for a top between 1.4600 and 1.4715 or so..........There are always multiple clues in the charts if you can learn how to read them........

Good Trading,
JahDave

 

[JahDave]

Here is the EUR_GBP 1 hour chart..........I think that the Euro is just finishing a "C" wave and should go down hard from here............I am selling it now after this post.......It could make one more small high from here, but it is ready for at least a good correction..........

 

[Doomberg]

Looks like we may of sold at the right time, its fell a lot in the last 6 hours... im currently about
100+ pips up, lets hope that it carries on... it really could be the big one we have been waiting on

 

[JahDave]

I haven't mentioned the CHF in a long time because it has been going up against every currency across the board for a long time now...........But now I am saying that the Swiss Frank is getting ready to reverse.......I can't say how or why because the events that are going to cause this have not happened yet,,,,,,,,but the CHF is in a fifth wave at present that is almost over........I will be looking to short the Swiss Frank across the board within the next few weeks...............

 

[JahDave]

Looks like we may of sold at the right time, its fell a lot in the last 6 hours... im currently about
100+ pips up, lets hope that it carries on... it really could be the big one we have been waiting on

I am staying short until at least 1.4200 Doom........

 

[Doomberg]

I got stopped out with the bounce back up to 1.4500, but it was my own fault for not putting a big enough stop... i went to sleep with a smile on my face lol, and woke like wtf ha... anyway no biggie been watching today and think 1.4500 is a good resistance point right now for it going upwards, I have just opened a trade at 1.4486 with a stop at 1.4586... im hoping this may do ok but i never count my chickens

 

[Doomberg]

Oops stopped out again, pretty bit loss this time... and it wasn't just us who shorted, i think quite a few on here were expecting the same drop... was just talking to rc450 and had placed a short a few days ago. You know the big crash in wall street today?... do you think that may of effected the USD to make EUR soar up to the heights?

 

[JahDave]

I don't know why the Euro is Kicking A** tonight, but it is,,,,,, This is Elliott Wave...........My fibo targets are 1.4450, 1.4575, and 1.4700...............My best guess is that the !.4575 is the target.........

It looks like the 1.47 is in play now Doom,,,,,,,,I am shorting big close to there...............

 

[JahDave]

It looks like the 1.47 is in play now Doom,,,,,,,,I am shorting big close to there...............

I really did not think think that it would get there because of what I read this week, but I have learned and should have remembered that the the charts are what they are , and the news is what it is as well...................I should always believe the charts,,,,,,,,,,,they do not lie.....................

 

[JahDave]

Oops stopped out again, pretty bit loss this time... and it wasn't just us who shorted, i think quite a few on here were expecting the same drop... was just talking to rc450 and had placed a short a few days ago. You know the big crash in wall street today?... do you think that may of effected the USD to make EUR soar up to the heights?

That is because they listened to news................I should have learned by now to believe my charting, and not to listen to news...................

 

[JahDave]

That is because they listened to news................I should have learned by now to believe my charting, and listen to news...................

Chart patterns do not lie..................5 minute, 1 hour, and daily are your friend.........................especially the daily charts............

 

[JahDave]

Oops stopped out again, pretty bit loss this time... and it wasn't just us who shorted, i think quite a few on here were expecting the same drop... was just talking to rc450 and had placed a short a few days ago. You know the big crash in wall street today?... do you think that may of effected the USD to make EUR soar up to the heights?

I have stayed in here with a very small position, and I will keep adding to it after it hits 1.47

 

[JahDave]

I have stayed in here with a very small position, and I will keep adding to it after it hits 1.47

If it hits 1.4830 then I will take the loss and look for another short entry..........

 

[JahDave]

If it hits 1.4830 then I will take the loss and look for another short entry..........

But as usual I am in too early, so I am hanging out to see what happens here............

 

[Doomberg]

Yeah its been an unpredictable week with this, lets see what happens

 

[JahDave]

Here are 2 EUR_USD pretty long term charts with day candles. In the first chart that is labeled please notice the count for wave two including the subwaves.......This entire wave 2(The big green number) is labeled out in subwaves and it is a texbook zig-zag formation........The second chart has the Williams %R indicator under the chart and it is showing a reversal should be coming......Also I have a fibo retracement set on the entire wave 2 and the first leg down of the reversal went right to the 38.2% level and that just happens to be at the top of the Ichimoku cloud........This is all adding up to a bounce now.......I am looking at the 1.47 area for the highest probability.......When the bounce is over then the next leg down should be very strong, so I am not going to miss that one......

Good Trading Everyone,
JahDave

Well,
Unfortunately I did not listen to my own advice and changed my opinion based on outside influences at around 1.4450. So, I am confident in my initial analysis at this point and I have added to my Euro short position.

 

[JahDave]

The Euro looks very weak across the board and I say that anything against the Euro is going up, with the exception of the Swiss Frank. The Frank has been way too strong across the board for a very long time and the next currency to fall on hard times will be the Swiss frank.......This may not happen for a month or 2, but it will happen.............

 

[Doomberg]

Hey Dave, funnily enough my cat just woke me up early and i checked my watchlist and seen everything in the red inc EUR/USD and thought yeah its probs time to short, hopefully i'll re-coup some of the last weeks losses, have you been long since 14400? ouch i know that a few others have but i was stopped out

 

[JahDave]

Hey Dave, funnily enough my cat just woke me up early and i checked my watchlist and seen everything in the red inc EUR/USD and thought yeah its probs time to short, hopefully i'll re-coup some of the last weeks losses, have you been long since 14400? ouch i know that a few others have but i was stopped out

Yes, ouch is right.............My original analysis said that 1.47 would be the high, and yet I still was swayed and sold at the 1.4450.............I really can't believe that as long as I have traded that I would doubt my own analysis,,,,,,,,,,,,but I did and I was wrong.................This is a testament to developing and trading your own system no matter what...........Anyway,,,,,,,I have added more shorts to the Euro, and will add more at the bounces.................

Good Trading Brother,
JahDave

 

[JahDave]

All of the technical indicators are pointing to a higher USD,,,,,,,,,,,,,,, then that is confirming my initial analysis.................It could get really ugly for the risk trades in the next several days................and at this point the Euro is the riskiest one of them all........