GBP/USD — Good Morning all, (Hi BlueBottle) Here is my current EW count on GBP/USD, and I'm watching the 1.6417 level as well as the 1.6542 level. A break of either of these levels will confirm a count in one direction or the other.

Elliott Wave Trading

My view point is that Wave A was 5 up, so that would mean a 5-3-5 correction. If that is the case, it is quite common for wave C to equal wave A. As always, if you can't see it, don't trust it, or don't like it -- DON'T trade it. I trade what I see. ...

Elliott Wave Trading

My updated GBP/USD 4H wave count — Good morning all. I'm long the GBP/USD at 1.6428...When you see my wave count, you'll understand why. Just to explain the various lines on the chart: The heavy red lines are Resistence values for the 4H, ...

Elliott Wave Trading

Hi all, Here is my Daily chart with my count on it (I've removed a number of the smaller degree counts to make it a little easier to see, and follow). Fire away, and let me know what your thoughts are. My large blue (1) and (2) could also be (A) and ...

Elliott Wave Trading

Wave one down on the 4H chart is now complete and wave two is in progress. Fundamentals, EW, personally programmed indicators, Daily Sentiment Index, Inter-market analysis, USD Index, and other knowledge are telling me the USD is going to outperform ...

Elliott Wave Trading

Ridingwaves2, Yes, that is essentially what I have also; however, after wave 5 at the top I'm not counting A, B, C, but rather i, ii, iii, etc. and I'm looking for the GBP/USD to drop below 1.3500 over the next 1-2 years (position trade).

Elliott Wave Trading

My viewpoint is on the opposite side of the trade from yours. I fully expect to see a strong (and prolonged) USD rally to the upside. Over the next while, I expect to see the USD outperform ALL other currencies...VERY bullish the USD.

Elliott Wave Trading

Greetings all, I'm back from holidays! Well rested, but with a sick 3 year old in tow unfortunately. Anyway, on to business.... My count sides with Phi's count....(I was watching over his shoulder...or perhaps he was watching over mine?) By ...

Elliott Wave Trading

I have the same hopes (that London doesn't confuse us). I've already made some headway (Long GBP/USD @1.6254, took profit at 1.6294).

Elliott Wave Trading

GBP/USD — Good morning all, I just thought I'd put in a quick post as to what I'm seeing right now. Based on Daily and 4H charts I have to conclude that we are in a correction, but that's not anything new. Based on what I'm seeing on the 1H ...

Elliott Wave Trading

.... I'll check back in on the market (and you guys too) in a few hours while things play themselves out. Cheers,

Elliott Wave Trading

... I'm stumped for a EW count on the GBP/USD correction. I've got several counts that "could" work, but none that say "that's it" to me. I guess I'll just sit on my hands and wait for price action to give me an entry point that rings true with ...

Elliott Wave Trading

Hi Blue Bottle, The Eur/USD and GBP/USD both seem to be working on a complex correction.... I haven't been able to put a good count to the GBP/USD yet, but my best guess at this point is that it's working on a triple three corrective pattern of some ...

Elliott Wave Trading

GBP/USD — It looks like price action may be moving into a triple three correction (flat, zigzag, zigzag?). If so, the count would be 3-3-5, a-b-c, 5-3-5? Thoughts? IF I'm on the right track with this corrective count we should then put in a ...

Elliott Wave Trading

Hi 4cfx, Ya, I took a look at it, but it's certainly not something that can stand on its own...it's too vague for me.

Elliott Wave Trading

....Medium term outlook (as things stand right now) gives me a price projection of 1.5592 once we've got our top in.

Elliott Wave Trading

The 1H chart TDTL has closed off and put in a bottom....and it looks like price may be starting to work its way into a triangle of some form? Whatever it is, it's still corrective.

Elliott Wave Trading

Hi 4cfx, I'll try to clarify what I've posted, but remember that (all things said and done) this is only my interpretation of EW and may well be wrong....Only price action can prove me right. ...anyway.... IF what I expect takes place we'll see wave ...

Elliott Wave Trading

Hi Phi, I agree. The overall momentum of the day is bearish, but I trade both directions, and tend to hold my own rather nicely. That said, the 4H chart is still working out the wave iv though and I still expect price to come back down, and (dispite ...

Elliott Wave Trading

My price projections for wave v of (b) are 1.6658-1.6700

Elliott Wave Trading