I am overlooking it for sure - what count do you have?

Elliott wave outlook

Not trading it but just had a look. GJ certainly is hitting the Fib levels right but it's in the same holding pattern as all the rest... Although the PA and wave characteristics indicate a market-wide slow retracement, I'm waiting for confirmation ...

Elliott wave outlook

Hi Tim, The MACD default settings of 12,26,9 are just too slow for me. A teacher once suggested to me that 4,14,9 gives a "fast" MACD that is good for intraday charts. Well, I tried that and started getting really good signals and I started using ...

Elliott wave outlook

Good idea about saving the shorts Yes, saw your latest GU blogposting - that's where I got the idea to peer into the future and "see" the end of wave 3. MACD and divergence only helps so much, and PA is confusing. Upward PA right now is ...

Elliott wave outlook

This chart shows both normal and reverse (hidden) divergence in the recent GU wave 3 down. It is common knowledge that divergence correlates to elliott wave counts, especially between waves 3 and 5. Here is a practical example. GU is a tricksy pair. ...

Elliott wave outlook

People are putting up really good counts - keep 'em coming! CG, looking at your GU analysis charts got me interested. I ran some fib projections and the results are below. GU 2nd waves foreshorten everytime, so my idealized projection of ...

Elliott wave outlook

Notice, as per the news stories over the weekend, how EU correlates quite closely to the Dow. This is going to be interesting

Elliott wave outlook

Yes I count a 5w rise too. The last chart would make sense in the context of a foreshortened ending diagonal for wave 5 - what else could that contracting structure be? a triangle? no - nothing in the preceding wave action warrants a triangle. I ...

Elliott wave outlook

Hi CG! good party or heavy TA? There is a 1:1 equivalence between the waves of the latest zigzag (not labelled on my chart) from Fri till today. Also, it retraced 38.2% on the dot so I would expect a downmove and a break of the running triangle's ...

Elliott wave outlook

Have you considered this? image

Elliott wave outlook

I've got no clue what is going on. My indicators are all over the place. I can't get a handle on the counts in any of my instruments. No suitable hooks to get in the trend... I'm sitting all of this out till I know WTH is unfolding and why for.

Elliott wave outlook

image

Elliott wave outlook

You're a visionary, MiGS... that will be terrifying in it's devastation to behold. And very likely...

Elliott wave outlook

EU is heading upward a little bit, but I have a 38.2% in for wave 4 of wave 3. If there is a low posted tonight then 1.31 and beyond may very well be the next destination image

Elliott wave outlook

Better safe than sorry, so thanks for the caution CG. However, look at the 2 previous times (1 & 4 March) that 1.30 was attacked - the reaction was mild and not much bounce... I don't think PA will react stronger this time... i'm not sure but really ...

Elliott wave outlook

Happy days! not often the market does what we actually expect... Looking at your chart reminds me that we still have a overlap of 1 and 4 - either our counts will prove to be wrong in a major way or we might see an extension of wave 3. Soon find out ...

Elliott wave outlook

good point - that would also achieve the target around 1.2940/50

Elliott wave outlook

I checked. Expanding leading diagonals are mentioned in EWP on p40 and RN Elliott acknowledged them. image Either EU has just completed one (and is now in wave 2) or the diagonal is ongoing in internal wave 3.

Elliott wave outlook

And what little confidence we have is ground to a pulp by expanding triangles! Seems to be heading down but is there such a thing as an expanding leading diagonal?

Elliott wave outlook

EU sorry no chart, but some wave number crunching. We've seen a 5w down from 13076 to 13016. If EU is indeed forming an impulse to the downside, here are some common wave relationship targets that may or may not be respected: wave 2 zigzag retraces ...

Elliott wave outlook