Thread: Elliot Wave Analysis

It is nfp day, the main economic news, so anything could happen.
I'm bearish on eur/usd, gbp/usd,aud/usd, nzd/usd and oil. Bullish on usd/cad, usd/jpy and usd/chf. Important juncture at these pairs technically.
Usd index technically has attained some resistance and there's a chance of a pull back before a rally that also means that the pairs related might also pull straight back into the upside....
So people who have weak hearts and very low equity amounts, please wait for 20 minutes at least once this news to find the suitable direction. Pull springs might move down/up sharply to fib amounts of 50% and 61.8% thus draw your fibs and then wait for the ideal opportunity to enter.

Expected payroll is 188K that is quite low. Than ADP came out strong as 18, it's quite feasible to have a count that is higher.
Anticipated hourly earnings are greater than previous which seems good for a dollar spike.
Anticipated unemployment rate is reduced that is also a good sign for dollar spike.

Based on these data the FED chairman will be speaking at Chicago club with audience questions. This may lead to a lot of volatility as well at 17:30 GMT.

Today we'll wait for the outcome with fingers crossed . .

Originally Posted by ;

quote Hello Sting, Thanks for the USDCAD chart. In this circumstance do you wait to buy until the price crosses above major wave-iii ? (hope I'm not asking you too much !)

Mav,

I'm already in a lot of buys on usdcad. I will check in the next 2 hours as to where that pair is going (only before nfp) and will take actions accordingly. May shut some which have been in profit and take some reductions. But will keep a couple with tight stop losses to proceed with NFP. Anything can happen with this news and it's far better to safeguard your equity which you have build up thus far. There will be a burst of pips down or up then following the news you'll get a direction as to who wins buyers or sellers. That's the time to enter. I hope a burst and then a good move to the upside. Smart money (devils) will attempt to take the retail stop losses . Good luck with your trades now.

Originally Posted by ;

quote Mav, I'm already in a lot of buys on usdcad. I will check in the next 2 hours as to where this pair is heading (just before nfp) and will take action accordingly. May shut some which are in profit and require some losses also. But will continue to keep a few with stop losses to proceed with NFP. Anything can happen with this news and it is better to protect your equity which you have build up so far. Usually there will a burst of pips down or up afterward in another 20 minutes following the news you will get a way as to who wins buyers or sellers....

I have reloaded longs @ 1.27650. Waiting for NFP.

@stringfx, I have been trying to find out Elliott waves.

Is my EURUSD weekly count right?

Originally Posted by ;

It is nfp day, the main economic news, so anything can happen. I'm bearish on eur/usd, gbp/usd,aud/usd, nzd/usd and oil. Bullish on usd/cad, usd/jpy and usd/chf. Important juncture at these pairs technically. Usd index technically has reached some resistance and there is a chance of a pull back prior to a rally which also usually means that the pairs associated might also pull back to the upside.... Those with equity amounts and hearts, please wait for 20 minutes after this news to find the suitable direction. Pull backs...

Totally agree
The pairs (esp. GBP, EUR) began back the pull and I believe they complete their pull on news then goes to the direction.

Originally Posted by ;

@stringfx, I have been attempting to find out Elliott waves. Is my EURUSD weekly count correct? picture

If this count is correct, EurUsd may drop down to 1.1784 - 1.1498 region to form wave 4.

Originally Posted by ;

It's nfp day, the main economic news, so anything could happen. I'm bearish on eur/usd, gbp/usd,aud/usd, nzd/usd and oil. Bullish on usd/jpy usd/cad and usd/chf. Important juncture at these pairs technically. Usd index technically has reached some resistance and there is a chance of a pull back before a rally which also usually means that the pairs connected may also pull back into the upside.... So those with hearts and equity amounts that are very low, please wait for 20 minutes at least once this news to find the direction. Pull backs...

Due

Nicely deductions came out quite negative although there is mix responses from buyers and vendors. Looks confused thus far. Dollar hasn't been affected much it is actually earning a trap bar.

Originally Posted by ;

quote If this count is correct, EurUsd may drop down to 1.1784 - 1.1498 region to form wave 4.

Yes this is my opinion as well.

usd cad went down ... not too bad I dropped 2% by the stop loss it is likely going to 61.8 retracement. will buy again there