I have to revise the wave count for the wave 2 up. I was looking out for a wave a subdivided into 5 waves but with the large retracement that has occurred, the next logical thing to do is to check and revise the wave count. So now we have a 3 wave ...

Elliott Wave Counting with EG

I am still biased For my current long trade which is already down by 38 pips plus 18 pip spread. but attaching some charts which could work out both in the short tern and most probably in the long term. EG

Elliott Wave Counting with EG

on our way up got out eaarlier as was getting tired of waiting and getting very sleepy. but got back in near end of 32. so still ok. EG

Elliott Wave Counting with EG

SL was at 233.48 that is arounf the wave 2 end. price has breached the end of wave 1. then this cannot be wave 4. it can then be wave 2 inside the wave 3 which furthe means that this wave 3 is going to be big. and will have a better chance of ...

Elliott Wave Counting with EG

unless 233.79 is breached..

Elliott Wave Counting with EG

since wave 4 retrace seem to have been established at 233.85, this means that wave 3 is just slightly more than 100% of wave a. and if my memory has npt failed me, wave 5 target would now be around FE 176.4. Unlike if wave 3 landed @ FE 161.8 then ...

Elliott Wave Counting with EG

Stoploss movev to wave 2 of this move upwards around 233.48. since we have points 0 1 and 2. and we see that price has gone over FE 100.0, this means this is a continuing impulsive wave were wave 3 is longer than wave 1 and is will not be the ...

Elliott Wave Counting with EG

minor adjustment and off we go to continue move northward that shook me a bit. made a retrace for nearly 88.6% again for the wave b. why 235.47? that is because Ihave noticed that GBPJPY like 76.4 up to 88.6 Fib Level as targets for wave 2 ...

Elliott Wave Counting with EG

on with the charts for GBPJPY EG

Elliott Wave Counting with EG

revised update 2nd chart was after that spike so had to re adjust count EG

Elliott Wave Counting with EG

Sub wave 1 of the bigger wave 5 down could be finishing in the boxed range in RED. Then we expect a retrace up by at least 61.8% Note FE Levels in Box EG

Elliott Wave Counting with EG

adjusted 1m chart for the breakdown of wave 4 Using fib extention tool for c= a*61.8% EG

Elliott Wave Counting with EG

so bad. got stopped out on a trade. it went for the 2nd level in the yellow box. or trying to get there toward 235.11 EG

Elliott Wave Counting with EG

continuing trend EG

Elliott Wave Counting with EG

next potential target for retracement in RED box. otherwise this will continue to go down a bit wary because of that triangle that formed at the end of that price candlesticks EG

Elliott Wave Counting with EG

get ready for the southern move EG

Elliott Wave Counting with EG

Current Update on GBPJPY. I am looking at a possible retracement toward the Boxed Range for wave 4 Values of projected range using Fib retracement and extention tool in relation to EW. EG

Elliott Wave Counting with EG

sorry . I got delayed posting this because was replying to some posts. Will reverse the order of presenting charts EG

Elliott Wave Counting with EG

Thank you Todd for having the patience to discuss EW details. I do not think there is a problem with wave 5 being longer than Wave 3 for as long as wave 3 is not the shortest between waves 1, 3, and 5. In this case, wave 1 is the shortest among the ...

Will the GBP/JPY close the gap??

Thank you for sharing dito. EG

River Theory Trades