My Wave forecast for EURUSD for next days/weeks

[fibo2618]

[Sixer]

fibo2618,

 

the price pattern since the high of may 2011 is corrective – your impulse count shows an intersection of wave 1 and wave 4, this is not correct based on the Elliott rules for an impulse:

 

http://imageshack.us/photo/my-images/811/eweurusd601712.gif/

 

Sixer

[fibo2618]

fibo2618,

 

the price pattern since the high of may 2011 is corrective – your impulse count shows an intersection of wave 1 and wave 4, this is not correct based on the Elliott rules for an impulse:

 

http://imageshack.us/photo/my-images/811/eweurusd601712.gif/

 

Sixer

 

Well, this is my wave count and forecast, not a Elliott wave count. I know that according to Elliott this should be called as an ABC corrective, not an impulsive 1 to 5, etc. The fact is that I think Elliott wave count theory is wrong all the time specially when we talk about corrective waves. For me there is always 3 waves only because wave 1 and 2 is part of 3 and there is no correctives. But who cares about wave count and theories? What I want to know is where the market goes and how much. Lets see what happens at that numbers that I point on my graph.

[Sixer]

fibo2618,

 

are you in the "camp" of Ian Copsey ?

 

http://fx-forecaster.blogspot.com/

http://www.screencast.com/t/XaJBmoTmasa4

 

Sixer

[fibo2618]

fibo2618,

 

are you in the "camp" of Ian Copsey ?

 

http://fx-forecaster.blogspot.com/

http://www.screencast.com/t/XaJBmoTmasa4

 

Sixer

 

Sixer,

 

All my study is from my own observations, I am not connected with any group or movement, but it is possible that someone as achieve similar results.

Thanks for the links, seems interesting, I will take a look.

Regards

[⭐ val2004]

So you start with the traditional rules of elliot waves and wipe out some based on your observation ?

[fibo2618]

So you start with the traditional rules of elliot waves and wipe out some based on your observation ?

Yes, we can say that.

I have begun my observations with 1 minute timeframe and heikein ashi. Give a try and you will learn allot about waves and wave count. After I have study all about elloitt waves I found out that Elliott wave theory is wrong many times, despite the basis of 3 or 5 waves are correct. We shouldn't forget that Elliott is from a time where there were no computers and modern technology and I am certain that if he lives today he have changed is mind.

Regards

Pedro

Edited December 17, 2011 by fibo2618

[⭐ val2004]

thanks for detailling

[traderx4]

I think you could be right, as I had a tip off back in Aug that we were heading for this area!

[⭐ val2004]

what do you mean by a tip ?

[traderx4]

Let's just say (not bragging) I was fortunate enough to be blessed with a contact that has access to this kind of information before the general retailer knows.The fund he works for trades (BIG STYLE) on the fx and options market each day. Strange I've not heard from him for awhile though.

I wonder if he's been took out by some opposing Governemt body!

Edited December 19, 2011 by traderx4

[iho]

Thanks very much Traderx4 For your kind contribution and sharing, sincerely hope to hear out from you more often on your forecasts regularly :P Cheers!

[fibo2618]

Update

Edited December 20, 2011 by fibo2618

[iho]

Thanks traderx4, therefore to clarify based on ur latest chart was the previous eur / usd

14 dec low marks Point 3 on your chart?

[traderx4]

Elliot is not something I use within my strategy. I'm more of a supply/Demand and Volume kind of trader. When I was told about this continued fall of the Euro, all I've done is sell when I see the correct setups on my charts.

It is interesting to watch what is happeing though based on your waves to see if my friend was correct.

It's certainly playing out the way he forcasted back in August though.

[Sixer]

fibo2618,

 

before you must change your count again, you should study the “corrective” pattern, your impulse count is not correct – the “flat” which started beginning of oct is not finished yet:

 

Neely page 5-39: http://imageshack.us/photo/my-images/265/if3.gif/

Price pattern since may 11: http://imageshack.us/photo/my-images/249/eweurusd602112.gif/

 

Sixer

[iho]

Hi Sixer, thanks for your input, may i kindly know what reference books are truly useful good for learning wave pattterns . as well as those images are from which reference :) ?

[Sixer]

iho,

 

the first gif is from the Glenn Neely book (page 5-39); the second gif is prepared by using the Refined Elliott Trader software (www.elliottician.com) with 60 mins data.

 

Sixer

[fibo2618]

fibo2618,

 

before you must change your count again, you should study the “corrective” pattern, your impulse count is not correct – the “flat” which started beginning of oct is not finished yet:

 

Neely page 5-39: http://imageshack.us/photo/my-images/265/if3.gif/

Price pattern since may 11: http://imageshack.us/photo/my-images/249/eweurusd602112.gif/

 

Sixer

 

Sixer,

In practical terms, what you mean by "the “flat” which started beginning of oct is not finished yet"?

Do you think the price don't go in the direction as I pointed out on my last graphic?

Can you please share your forecast for eurusd?