Hi guys, I follow a simpler EW school, like SunTrader, and while I agree that the rule regarding wave 4 cannot travel into wave 1 teritory can sometimes be broken, especially if there is a fast spike that takes us a little into wave 1 teritory, I ...

Elliott Wave Trading

This is still my prefered count. Some analysts saw it as a failed 5, I'd rather count it as a correction. P.S. We have a Reversal Bar sitting on the 50 retrace, if it breaks up I'll get long.

Elliott Wave Trading

I think EURUSD bear trend is done for a few weeks... My bet is on the bullish side.

Elliott Wave Trading

I've been following the same tracks for a while now. I expect (c) wave of the correction to finish around 50% ret level, a lot of confluence around that level.

Elliott Wave Trading

I second this recomandation. There's a lot of original stuff in Dynamic Trading but most important its practicability. Another good book is The Elliott Wave Principle Applied to the Forex Markets by Robert Balan. The really neat thing here is how a ...

Elliott Wave Trading

GBPJPY, H4 — Corrective move down stopped between 50%-62% retracement zone. Also in there we have a strong pivot level that hold the price. From an EW pov we have a=c. Probabilities are in favor of Bullish following in my opinion.

Elliott Wave Trading

How about Cable? The move down looks corrective to me. At this point we have A fib relationship between corrective waves and if it is on par with Euro then it should go up...

Elliott Wave Trading

My same thoughs exactly. I'd rather see it like this.

Elliott Wave Trading

I'd be careful with the triangle count. Everyone sees it and expects it to break down. If I'd have to bet on a breakout direction I would do it on the upside.

Elliott Wave Trading

Indeed Dave, if the bullish move from yesterday on EURUSD would have been a wave 3 of C I would have expected a greater momentum. I still have half my position on the long side just in case, the pattern is not invalidated, yet...

Quick Notes From The FX Desk

GBPUSD, H4 — This is what I am looking for.

Elliott Wave Trading

Possible fontu, to tell you the truth I dont have any opinion for the whole move down on Euro since the July top. I can't count a clear 5-wave move down so for now I am ignoring the longer term count. Would love to see yours and other people longer ...

Elliott Wave Trading

Thanks FXoffshore. Regarding .50, it is on my top of the list along with .62, I've seen too many .50 levels hold the price if not trully reverse it to ignore it. Like right now on EURUSD which stopped at .50. I guess in the end is a matter of taste ...

Elliott Wave Trading

I am considering this whole move up a correction. And we are in the 3rd wave of the correction which I expect it to be a 5 wave move thus impulsive. Maybe I should have been more clear of what impulses I was talking. Later edit: Actually I am not ...

Elliott Wave Trading

USDJPY, H4 — This is what I am watching lately... P.S. FXoffshore and other experienced EW people what do you think about .786? It appeared yet again today, I never put much emphasis on it but seeing how price reacts lately near it I consider ...

Elliott Wave Trading

Well it looks like strength of the move makes it clearly an impulsive one so probabilities are still for the original assumption meaning that we can expecy a new high, most probabily unfolded as a 5-wave move - the move up today being wave 1. So I ...

Elliott Wave Trading

Great analysis Dave, thankfully I'm in the same boat as you, long already

Quick Notes From The FX Desk

EURUSD, H4 — Hi guys, Good thoughts you got there Blue bottle and FXoffshore. Looking at charts only (and ignoring elections which I know could set a new trend once they are done) it looks like we may have another high. In my eyes the last leg ...

Elliott Wave Trading

GBPJPY, H4 — Am looking to go LONG if the scenratio plays out.

Elliott Wave Trading

EURCHF, H4 — Am looking for the attached scenario, if it plays out, to short this pair.

Elliott Wave Trading