Elliott Wave Forex Scalping

[JahDave]

It is still bouncing around the green line, but it has broken below it, so it should at least have a three wave down before making a new high....

 

[JahDave]

Update for the short term USD_JPY..........Look at all of the candles inside the blue box with no bodies.........There is definitely indecision on this pair at the moment. whichever way it finally breaks should go for a while

 

[JahDave]

Update for the short term USD_JPY..........Look at all of the candles inside the blue box with no bodies.........There is definitely indecision on this pair at the moment. whichever way it finally breaks should go for a while

There is a clean five count down and then a move up, this should end after another five count down............After that I think there will be a substantial reversal in order...

 

[JahDave]

I think it is time buy the dollar yen.....I just did.

 

[JahDave]

We may finally get some down action for the Euro...........We'll wait and see.....

 

[kjtnt]

What did you buy the usd/jpy at, around 82.06?

What is a good target price for that pair?

 

[JahDave]

We may finally get some down action for the Euro...........We'll wait and see.....

If it breaks 1.3715 then it has a little more upside.......

 

[JahDave]

If it breaks 1.3715 then it has a little more upside.......

To the 1.3735 or 40 area,,......

 

[kjtnt]

what about the yen though?

 

[JahDave]

What did you buy the usd/jpy at, around 82.06?

What is a good target price for that pair?

what time frame would you like to know?

 

[JahDave]

what about the yen though?

On the 1 hour chart it has dropped back into the down channel, but it has bounced off the median line at the Fibonacci level of 61.8 retracement of the move up........... This is one reason why I think it will be heading much higher..........

 

[JahDave]

On the 1 hour chart it has dropped back into the down channel, but it has bounced off the median line at the Fibonacci level of 61.8 retracement of the move up........... This is one reason why I think it will be heading much higher..........

Here is the chart...

 

[JahDave]

What did you buy the usd/jpy at, around 82.06?

What is a good target price for that pair?

I bought it there because there is not much downside left for this pair..............

 

[JahDave]

I am going to spend a few hours tonight in real time scalping the jpy. This first chart is the current five minute chart and I have labeled the chart as I think it will probably play out. The reason for the triangle drawn out is because triangles are always the next to the last pattern. So I expect one more push up and then a pullback. If the fifth wave happens then the reason I drew another five wave move up after the 3 pullback is because after one five wave move up there is always at least one more.

 

[JahDave]

I am going to spend a few hours tonight in real time scalping the jpy. This first chart is the current five minute chart and I have labeled the chart as I think it will probably play out. The reason for the triangle drawn out is because triangles are always the next to the last pattern. So I expect one more push up and then a pullback. If the fifth wave happens then the reason I drew another five wave move up after the 3 pullback is because after one five wave move up there is always at least one more.

Here is why it is important to have a thorough understanding of Elliott Wave Theory....... This pair didn't follow an acceptable impulse wave pattern, so therefore this is either a corrective wave or a leading diagonal........A leading diagonal is an acceptable pattern for wave 1, so we will see if this is the case.......If not then this is a corrective pattern and the dollar will be making new lows against the yen soon.......Nothing else that I know of can tell me this ahead of time, and present me with only a few options.......

 

[JahDave]

It is a very trying night for the USD_JPY........My opinion is that there is an ending diagonal and a leading diagonal right after that..............This means that there is much indecision for this pair and Elliott Wave rules will be pushed to their max and even a few broken here on five minute charts, but not on daily charts or higher.......What you must realize is that we will never see a time like this in our lifetimes after the next few years.........We are living in a time of important history right now.......

 

[JahDave]

I don't usually talk about my Aussie trades, but now is a good time to sell the Aussie...........

 

[JahDave]

Back to the Euro............This is very typical for a fourth wave,,,,,,,,Indecision and a shallow retracement................After this one more push down and then a strong push back up,,,,,,,,,,,,,,but not for new highs...............after that a very strong move down...................

 

[JahDave]

I don't usually talk about my Aussie trades, but now is a good time to sell the Aussie...........

The Aussie has made an extended corrective wave, but it is still going down tonight......

 

[JahDave]

Here is why it is important to have a thorough understanding of Elliott Wave Theory....... This pair didn't follow an acceptable impulse wave pattern, so therefore this is either a corrective wave or a leading diagonal........A leading diagonal is an acceptable pattern for wave 1, so we will see if this is the case.......If not then this is a corrective pattern and the dollar will be making new lows against the yen soon.......Nothing else that I know of can tell me this ahead of time, and present me with only a few options.......

There is the new low for the dollar yen............