Yes, it does look like it's coming together. The last portion of wave 6 is a Head and Shoulders pattern (albeit an ugly one), which adds to the overall bearish tone. There is some significant support at 1.2437 and some minor support at 1.2420 then ...

USD/CHF

Check out this article on EUR/JPY from DailyFX. Based on several different perspectives, they are predicting (I shudder when I use that word) a turning point down at/around 148.33. It's a very intriguing read. ...

Daily EUR/JPY analysis

SliverB, Given the extended move down in USD/CHF and the price hitting support around 1.2480, I'm anticipating a correction back up. Given your experience with Fib levels is the 50% fib of this latest move down a reliable top for this correction? Or ...

USD/CHF

SliverB, I read the same about the slope heading south for a bullish wave. Perhaps the inverted H&S is the actual impetus behind the bullish move, rather than the WW, per se? I don't know. I give Head & Shoulder patterns a LOT of credence, as they ...

USD/CHF

The headlines I saw on Oanda's FXNews say that Bernanke is stating that "inflation is contained" and that there is even a "gradual decline in inflation", so I guess that's what set the market off. How long did you stay in your short position on ...

USD/CHF

In my view, either way we have possible winning scenarios. If price bounces off the 50% Fib line, there is every possibility that it will retrace and complete wave 6 of the smaller WW I posted originally. However, if it breaks through resistance, ...

USD/CHF

Very interesting read, Yardie. Thanks for including the article.

Daily EUR/JPY analysis

I'm with you. I tried doing Elliott Wave counts for a while and it was pretty nerve-wracking. The Wolfe Wave, from the little that I know about it, is much easier as it is just a pattern like a head and shoulders or any other price pattern. There ...

USD/CHF

Hey SliverB, good to see you here. That's the fascinating thing about using fractals like the Wolfe Wave, since you begin to see their "self-similarity" everywhere, at all time scales. As far as using RSI, I'm just experimenting with it right now ...

USD/CHF

EUR/JPY at critical juncture — EUR/JPY is at a very critical juncture right now. Check out the Weekly chart and the convergence of the long-term downtrend line and resistance around 147.00 - 147.55. This point of inflection could determine the ...

Daily EUR/JPY analysis

Great Stuff! Thanks for the tip!

USD/CHF

Mr. Trend, Thanks for your input. You are correct regarding the oscillators; they do not, in and of themselves indicate direction. However, given that traders utilize their O/B and O/S readings in making trading decisions, they do have an effect on ...

USD/CHF

Thanks Banzai. If this thing comes to fruition, it will most likely do so due to one of the US economic news releases tomorrow, unless, of course, the Israelis and Palestinians lay down their weapons, all join hands and sing "Kumbayah" together ...

USD/CHF

I might. Check out the Wolfe Wave pattern I see on the 1H chart... I'm not WW expert, but this looks pretty textbook to me. I'd like some input from anyone out there with experience using Wolfe waves as this could be a solid setup for a short, given ...

USD/CHF

USD/CHF Wolfe Wave - possible sell? — Hi all, I've just started delving into Wolfe waves and am trying my hand at spotting them "in the wild". I've attached a 1H chart of USD/CHF and what looks very much like a textbook Wolfe Wave nearing ...

USD/CHF

Oanda is outstanding. Their production platform is exactly the same as their "Game" platform. Fast fills, no dealing desk, low spreads. What else do you need? If I need to do any in-depth/long-term charting, I use a demo MetaTrader account as well, ...

retail forex brokers - oanda??

Akuma99, Thanks for considering the idea and giving it a trial run. Hopefully it will meet with everyone's approval as well. 4HR charts would be great, though we could also use Daily charts in order to give those in different time zones more time to ...

Price Action Exercise: What Happened Next?

Akuma99, Thanks and many kudos to you for setting up such a wonderful thread here on FF. I became a devotee to using the basics in trading FX after searching in vain for that "perfect" technical indicator or combo of indicators that would spirit me ...

Price Action Exercise: What Happened Next?

My experience with CMS was very negative. My connections with them got dropped on average 7 times a day, their news feed was prehistoric and I got stop hunted on a couple of occasions. I switched to Oanda and have never looked back. If you're ...

www.cmsfx.com

Fantastic. I just lost 50 pips on the GBP/JPY when it turned tail and headed north and took out my stop. Note to self - use wider stops... - Ian

EJ_4H method