I've referred the picture 50 times today! Get it and other examples at this link: url

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As I see it:

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Make sense?

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From A it is a 3 wave sub up to B (a,b,c) before a continuation south

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Using this as the premise:

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Yes at the moment - it appears so.

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By my count sub-wave (a) should be 3353, 50.0% retrace (iv) to (v) (price went to 3345) still watching - but I think I've got the count figured out on the 1H?

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Your EJ stop is at 118.65? I just took a long from EJ 15M at 118.255 and closed at 118.355 used the AO advanced indicator I spoke about yesterday +30 today +53 for the week

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Never been to it. might take a look later - trying to get my head around Elliot Waves

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Price has exceeded the 127.0 fibo for wave (iii) to (iv) and approaching S2 - believe what we have here is sub-wave (v) Corrective A to B

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Very nice trading there!

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And we are out +20 for the day +43 for the week

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And we are in at 33301 tp at 33201

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Back to basics - and how these tie with the elliot wave premise. Notice the low of sub-wave (iii) - although it is not shown here this represents the first down fractal outside the alligators mouth - and my favorite fractal to take. Because I ...

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THAT WAS THE MOST PAINFUL TRADE TO WATCH! But FINALLY - made my +10 - forex gods were kind to me today! By my count (so far so good) sub-wave (v) should complete at or around 3320 (127.0 fib of iii to iv)

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So - incidentally IF by elliot wave rules the current move goes as I think it will and completes at sub-wave (v) a small 3 wave correction should ensue (ABC) which by my count completes an 8 wave cycle indicating a reversal of trend (to bearish)

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drilling to the 5M I see that I have had 4 chances to take my +10 pips - I ignored them all and I never moved to BE I broke 2 of my hard and fast rules 4 times 1. Remove risk 1st 2. Take +10 when market gives it I deserve to be stopped out! Dumb ass ...

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I am still learning it as well - please don't let the fact that I am babbling in Ewaves to stop your normal postings!

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retrace was to 61.8 has (iv) formed? Stop loss now firmly in place above sub-wave (ii) (a break above subwave (ii) in-validates this move and should not be ignored. I am still pinning hope to the fact that we are in a complete 8 wave pattern, at the ...

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Upon second glance it would appear a new low happened at (iii) a corrective to (iv) maybe a 38.2 retrace of (ii) to (iii)?

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