Thread: Elliot Wave Analysis

Originally Posted by ;

quote Sting, when USDCAD goes down, usually Oil goes up. Is that true or is there any relationship between them ?

Yes there is correlation between cad oil. Canada has a lot of oil resources and is a major exporter of oil into states. So if cad gets more powerful than oil also will get more powerful. Since I have noticed the result is not as 16, the significance has died down.

Hi Sting,

Since USDCAD has crossed the invalidation line and currently approaching to 61.8 percent of total upward move, could you please allow me to know your alternative view point ?
Additionally, enjoy very much in the event that you please share your thoughts about EURUSD and OIL.

Originally Posted by ;

Hello Sting, Since USDCAD has crossed the invalidation line and now approaching to 61.8 percent of total upward movement, could you please let me know your alternative view point ? Enjoy very much if you please share your ideas about EURUSD and OIL.

Mav, I am still waiting for confirmation regarding eurusd, but now I am having a different perspective taking a look at the structure. Eurusd on a 4 hour time period seemed to be making, although dxy hasn't shown much of a drop. Take a look at this chart. The pair appears to be creating a series of 3 wave structures. I am out of of my places to get a better direction. Rinse ans repeat although lost some money.

Originally Posted by ;

, for the assortment of different charting techniques: This is the latestet webinar from David in regards to the SP utilizing Hurst cycles: https://youtu.be/CAe82qSu0-Q The software is called Sentient Trader. Sixer

Thanks Sixer.

usdcad also the exact same image it has almost touched the 61.8 retracement for the last major wave. Considering that the invalidation line is broken, it may return to almost the start of the 1st wave thus preventing it until I see signs of something impulsive to the surface. If oil breaks 66.52 then it's core bullish without a stopping it for a fairly long time. If you're still able and can manage a stoploss of 66.52 subsequently grip on cut the position.

Fantastic ribbon.

Originally Posted by ;

usdcad the same picture it's almost touched the 61.8 retracement for the last major wave. Considering that the invalidation point is broken, it can return to the start of the 1st wave thus keeping away from it until I see indiions of something spontaneous towards the top. If oil breaks 66.52 then it's core bullish and no stopping it for a pretty long time. If you're still in the position and can manage a stoploss of 66.52 then grip on else cut the position. picture image picture

Okay Sting, I place a SL for Oil to 66.52, by expecting the price will come down. Let us see just how things are developing.

Originally Posted by ;

Great thread, subscribed here.

thank you for the kind words.

DXY

US index has been disappointing although there is still hope. Whether this wave down rests under 61.8 retracement using a 4 hour close I can turn bearish on Index. When there is an impulse movement after reaching 61.8% there is still hope for your dollar.

time to modify opinion about dxy.

Bearish until 86.43 at least. Wave 5 wasn't complete and is in progress. Here are a few charts.

First chart is per week.
2nd is daily