Excellent chart and analysis. I'm with you on the running flat being a highly likely outcome. Part of the reason I agree is that shallow 2nd wave followed by an even weaker 4th. It's as if price cannot go down fast enough and is hopping and jumping ...

Elliott wave outlook

EU This is what I would expect to happen. Despite hesitant price action our targets are being hit. So assuming a 61.8% retracement and then wave 3 down to the 1.33 area: image

Elliott wave outlook

Not to distract people from their trades, but this is real concerning: url Santa Cruz Islands in the Pacific have been having 4-5 magnitude quakes all day

Elliott wave outlook

Thanks Tim, I have considered MT4 + fxTrade but I am on Linux OS so some resource issues: I have to emulate Windows inside of Linux and then run MT4 on top of that. It is possible, but memory and CPU are maxed out running several critical apps ...

Elliott wave outlook

Stocks are selling off everywhere - I don't have enough hands and eyes right now! Somehow the currencies and metals are not moving as strongly... Not sure EU is finished with that expanding triangle yet, let's wait and see

Elliott wave outlook

BTW Dow is going down strongly

Elliott wave outlook

I somehow expected a truncation at 1.3517 because of the reluctance to go down. But PA just hit 1.350 let's see what happens next and try and make sense from the subsequent correction...

Elliott wave outlook

Unless that wave overlap in wave 1 is a 1-2 1-2 which means we have a longer way down

Elliott wave outlook

Good chart. Contextualized everything well. the current move down is not clearly impulsive nor is it obviously 3 waves, so we have to wait I guess. Everytime I suspect the move to actually be 3 waves it makes an impulse down. In the EJ there is a 1 ...

Elliott wave outlook

Hi CG, yes, very confusing PA and I can only surmise that we are witnessing the ends of upward corrections (B waves of flats, etc) in most markets which is characterized by mania and denial, hence the loopy chart patterns... Thanks for the charts, ...

Elliott wave outlook

No, no, its me who's using oanda fxTrade I see you're on MT4 which has better coding and customization features but poor execution time (i heard). How's that for you? BTW - Dow futures attacking (from above after overshooting) the upper TL of its ...

Elliott wave outlook

No problem, easily fixed with rotate function in image viewer. OK, yep, pivot points. I use daily, weekly, monthly and yearly pivot levels - with more importance given to those that coincide with Fib levels. Oanda fxTrade has a crappy Pivot point ...

Elliott wave outlook

Thanks for this! I'm not on Windows either, but I think you can press the PrtSc button on the keyboard

Elliott wave outlook

EU: "Unconcerned by his rejection of her advances, she puts her red dress on and approaches again" 3rd time lucky perhaps?

Elliott wave outlook

EU attempting the lower TL at 1.3525 again. Below that lies 1.3515 - a strong pivot level which has to be convincingly broken for price to continue lower

Elliott wave outlook

Sure, i'd appreciate that

Elliott wave outlook

We have a support/pivot level nearby? What price level is that, xfat?

Elliott wave outlook

EU attacking a strong pivot at 1.3515... this is going to take time and Euro pairs will probably be in corrective holding mode for a while...

Elliott wave outlook

If my count is correct then we are in subwave 3 of the 3rd wave now and should see significant distance down to 126

Elliott wave outlook