See what I mean. What I "though" was the top of wave 2 was actually only wave 3 of 5 of C/2!!! If you had moved your stop too soon, you would have lost the trade.

Elliott Wave Trading

Hi Sam, IF...and I do mean IF you choose to take this trade keep you stop in place at 1.4328 (plus your dealers spread) until the market has proven what I "think" is the wave 2 high. All it needs to do to prove it is make a shor term low, and then ...

Elliott Wave Trading

GBP/USD — Feel free to short the GBP/USD anytime now (if you are so inclined) with a stop just above the 1.4328 high. Price has reached the 88.6% retracement of the prior down move (Wave 1 of 1), which puts us at the top of wave 2 of 1 (unless ...

Elliott Wave Trading

USD/CAD — Hi Sam, I tend to only trade the GBP/USD; however, given the USD Index, the expected drop in the GBP/USD - indicating a stronger USD, as well as the chart you provided.... I'd have to agree with you. I'd expect a new high before ...

Elliott Wave Trading

Hi Sam, As you can tell my the total number of posts I've made (very few) I don't tend to post much or often. That said, I honestly don't even know how to post my charts. Also, I'm a little "old school" and tend to only write my Elliott wave count ...

Elliott Wave Trading

It will be easy to tell if we have completed wave C of 4 or if we have completed wave 3 of 5. All that needs to happen to prove the wave C of 4 count wrong is for the market to move above 1.4349. If the GBP/USD moves above this level of resistence, ...

Elliott Wave Trading

You got it. We've just finished Wave IV up within wave V of 3. We can start to look toward a new low below 1.3500. (That is, unless the market proves me wrong). Good work. Elliott Wave takes some doing at first, and no one gets it correct all the ...

Elliott Wave Trading

Hi Sam, I haven't been trading the EUR/USD for quite some time now, so I don't have a good grasp of where it is with regard to Elliott Wave; however, the EURO and the Pound usually trend together, and given that the GBP/USD is getting set to drop it ...

Elliott Wave Trading

5 minute chart: We've just completed 3 waves down (wave 4?); however, in the process of completing what I'm calling wave 4 we have entered the price territory of wave 1 of the same degree! So, the outlook is more bearish with it more likely that we ...

Elliott Wave Trading

Got stopped out (obviously). If my count is correct, we've just put in the top of wave 3 at 1.4228, so we should now see a 4th wave down and a final 5th to a new high...with stong resistence at 1.4349 (bottom of wave 1 of the same degree). I hope ...

Elliott Wave Trading

I'm short at 1.4270, stop to breakeven after 30 pips. A break below 1.4208 should confirm a bearish case, at which point I'm in for a 2nd lot. We'll see how she plays out.

Elliott Wave Trading

Truncated 5th or complex corrective 4th wave....? Will have to wait to see if we get 5 waves down and 3 waves up to confirm. Either way, I'll have to re-count. Off hand, I don't see enough momentum for this new move low to be a wave 1, so I'm still ...

Elliott Wave Trading

Now starting miniscule wave 3 of 3. (If I'm correct of course).

Elliott Wave Trading

My wave count on a miniscule degree puts us in wave 2 of 3 toward the final high of wave 5 of 5 of C of IV of 3. Once we make our new high we should work our way down to a new low below 1.3500 for a wave 5 of 3 and then begin a corrective path back ...

Elliott Wave Trading

GBP/USD — I'm still expecting a new high for this move up to C or 4. Price zone in the 1.4331 area.

Elliott Wave Trading

Thanks for the welcome. I've been around for a while, but I just don't tend to post on any forum much. Well... Let's sit back and see where this ride takes us. Cheers.

Cable Update (GBPUSD)

Thanks. I've been around for a while, just quiet. I don't tend to post on any forum all that much. We'll have to see where this ride takes us today. Cheers.

Cable Update (GBPUSD)

GBP/USD direction — Hope you guys don't mind me throwing my 2 cents worth in here. I'm expecting a new high (all be it a minor one), before we see a retracement back into the 1.4790 zone. We'll have to see where we stand come market close ...

Cable Update (GBPUSD)