Proposed Route incase the Guideline for Wave Equality Plays out. EG

Elliott Wave Counting with EG

Pls disregard above chart. wrong point of references for the FIB extention tool. EG

Elliott Wave Counting with EG

Carman... You are probably correct that we are now in Wave 5. 15min chart shows a 4 wave divison with a potential wave 5 nearing completion. Based on the rule of wave equality, we may have the wave 1 = wave 5 now since wave 3 is 161.8% of Wave 1. ...

Elliott Wave Counting with EG

Carman.. Your wave 4 on my chart narrowly missed the 50% retracement of wave 3 by just 1 pip. 50% is at 237.07 and my wave 4 low is at 237.08. Just 1 pip. Now whether it it goes more than 50% or not... the fact that it narrowly missed the 50% ...

Elliott Wave Counting with EG

Pin Bars How about these 2 charts Carman? EG

Elliott Wave Counting with EG

all 5 TF Price action and Fibos EG

Elliott Wave Counting with EG

Apology — Since it started here, I might as well post this apology here. I apologize to Gene22 for doubting his 230 theory for GBPJPY. Now I see his charts and indeed he has some basis for thinking so. I have been interested in the works of ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Carman.... Just went thru my notes.... 50% is the normal maximum of a wave 4 to retrace wave 3 in my notes. But it is possible for wave 4 to make more than 50% retracement of wave 3 and this increases the chance of a wave 5 Failure. So if this wave ...

Elliott Wave Counting with EG

Noted that Pin Bar on the 1hr chart needs to be outside the Bollinger bands. Are you using default values for the BB? Noted too the EMA lines you use. I myself try to watch the 5SMAs of 1hr, 4hr, Daily and Weekly from Auslanco's Thread, then there ...

Elliott Wave Counting with EG

Price action on the 30min and the 1hour charts. EG

Elliott Wave Counting with EG

Attached is the Chart I posted earlier. Monday was a downturn instead of up trend since the expanded Flat wave 4 did not materialize. However, wave 4 seemed to have turned into a more complex wave or into a bigger breath of corrective wave by ...

Elliott Wave Counting with EG

Nice going there Carman.. Thank you for sharing your chart with us. I was working on my charts the past hour and when I checked the 1horuchart, I found that I may need to adjust my counts. Now your charts are more like it. Where we now both have a ...

Elliott Wave Counting with EG

I may have exited that Long trade a bit early. But this some how looks good for my other Long trade as a Potential Bearish Gartley is forming on the 15 min chart. EG

Elliott Wave Counting with EG

I had 2 Long Trades and 2 short trades. I am letting go of 1 long trade infavor of my 2 short trades now. Closed a long trade for 50 pips loss which included an 18 pip spread and a bonus 4 pip swap. Net Loss was 50 pips. maintaining 1 long trade ...

Elliott Wave Counting with EG

Price has already gone above the 15min Ichimoku cloud and is trying to reach 239.03 athe Murrey Math (4/8 Level) which is a strong Support and Resistance Level. Aside from this as you can see on the abobe chart and also as somebody else has pointed ...

Elliott Wave Counting with EG

new point of reference for a potential move downwards. EG

Elliott Wave Counting with EG

238.71 breached looking at a most likely return to a Bull Trend EG also looking at price action as it nears 5Daily SMA and the 240 EMA on the 15min chart. But oscillators are at over bought levels now

Elliott Wave Counting with EG

Wave 2 retracement nullified. wave 4 not finished yet? Looking at the 15 min chart now instead of the 5min and we see a potential completion of a triangle. What are the implications of this triangle: 1. that we are nearing the end of a wave 2. that ...

Elliott Wave Counting with EG

and just as I post the chart... the 85% gets HIT EG PS Wave 2 assumption stays valid for as long as price does not go higher than 238.52. If it does , next consideration is a breach of 238.71 . No breach will still allow the wave retracement to be ...

Elliott Wave Counting with EG

78.6 was deviating from the usual 61.6% retracement. Highly volatile pair like gbpjpy needs a more conservative level which is actually the 85% or the standard 84.6% Fib Level. Meeting it nearly halfway so to speak, I chose 78.6% instead of 61.8 and ...

Elliott Wave Counting with EG