Potential retrace now for GBPJPY wave 2 down towards previous low or arounf 50 to 76.4% of wave 1 EG

Elliott Wave Counting with EG

Let me share what I have come up with on my chart and explain to you the details. Below is a revised chart to show more of the details that I found before and also the ones I am seeing now. Anyway, let me explain the details on my chart. 1st. There ...

Elliott Wave Counting with EG

Kevin ... I actually was in the process of replacing the earlier chart I posted with the text . Had to replace it to show a better FIT for the Magenta Channel to parallel the lines from the side of the wave 2 and the wave 4. ] Trying to show an ...

Elliott Wave Counting with EG

I think you are doing Great Kevin. Below is my Revised Count on 1 Hour chart. I am more inclined with the Blue Option 3 Count. I am experimenting on ignoring wave 4 overlaps with wave 1 if it is due to a spike. EG

Elliott Wave Counting with EG

I am inclined to agree with your view on a possible zigzag for wave 4 since wave 2 was sideways correction. Wave 4 then can retrace up to wave 1 end. wave 2 is allowed to retrace 100% of wave 1. But not more than that. EG

Elliott Wave Counting with EG

Hi Kevin. Your uptrend count is most probably correct. Now I do not remember where I got that leading diagonal triangle for my wave 1 when all I can see now is just a channel instead of that diagonal triangle I initially thought I saw. Yellow B and ...

Elliott Wave Counting with EG

SL for mu old short trade just got hit. I adjusted it too close that instead of an earlier -20pip loss, I ended up with 95pip loss for that trade. (hhhhmmmm busy doing other things ) Anyway, time to sit and watch now. EG

Elliott Wave Counting with EG

Price currently consolidating on 5min chart. Looking for another downward move for w5=w1. towards 226.10 which is also the Daily S2. EG

Elliott Wave Counting with EG

I was wrong to assume that that was the bottom. Anyway, we have to give room for this set backs. Rather than a narrow SL, mine is at 300-600. Attached is new proposed EW Count or structure. I will be able to close my old short trade from last week ...

Elliott Wave Counting with EG

Seems 227.13 is now the end of the wave 2 of the leg C of this wave 4 up to 228 - 229.29 Then it will continue to go down to 225.97 level to finish off the leg C of the Flat corrective Wave 4 of the main trend Up Main trend up wave 5 will see the ...

Elliott Wave Counting with EG

closed 2 long trades @ 228.07 15 pips shy of the top of this wave 3. looking for a retrace and another push up. If it does not come, I have banked some nice pips for the day and there is still London session to come shortly. EG

Elliott Wave Counting with EG

Long Targets 229.29 and I favor a retracement or a turn around from here as I see this as the end of a wave 4 up to be followed by a wave 5 down to 225.77 level of the flat corrective wave of the main Uptrend. should it breach or go higher than ...

Elliott Wave Counting with EG

Looks like another leading diagonal triangle wave 1 and followd by a wave 2 retrace on the 15min chart before it goes up again. Update Sorry ..... it actually looks like a barrier triangle after trying to draw the sides of the triangle. EG

Elliott Wave Counting with EG

exceeded the down target of 227.22 down to 227.13. 227.09 is daily pivot. could be start of a temporary up move for the wave 4 IMHO. EG

Elliott Wave Counting with EG

I will take what my charts will show. Now waiting for a wave 2 pull back towards 227.22 Then if it is truly a zigzag wave 2 on the 5min chart, then will add some long trades again on my DEMO and SL at 600. EG

Elliott Wave Counting with EG

Yes Srikanth......Overall... Longs are favorable. But if it stalls at the level where I think the wave 4 up will be, I will exit my longs and place a small Short trade to 225.77 level. Then scale up my Long trades again. EG

Elliott Wave Counting with EG

experimentally Long till 227.92 then short down to 225 area This could be the wave 4 correction up before the final wave 5 down of the higher degree wave 4 corrective flat wave down to 225.77 level Higher degree wave 1 end of the leading diagonal ...

Elliott Wave Counting with EG

Nice to see you posting again Akuma99. Thank youfor that chart above. I actually am looking at it and thinking about your explanation as part to justify price movement in relation to Elliott Waves. And believe it or not I like this as it does ...

Why Fibonacci Retracements are Bullocks

could be this one too. I suggest that we wait for it to go up to 228 if it does then make a pull back for around 61.8% at least ..... then I will enter a small long Position.. will then wait for another signal to enter another long for the ride to ...

Elliott Wave Counting with EG

next time hold on to your wave 3. I banked mine too early. was too eager to have some profits for the morning after missing the first one. Now I have to wait for the Ride up. rather than enter a new down move again. Nursing the 2 opposite trades ...

Elliott Wave Counting with EG