Clarifying the Alternate Wave Count . . . ?

FX:GBPJPY   British Pound / Japanese Yen
164 10
Looks like my alternate count was a 4th wave after all.

So, still trying to get in on the 3 drive that I talked myself
out of just before the 4th of July camp trip.

Maybe this is the wave 2 or B to finally join the party.
Of course, nothing is so simple for not quite a Cypher , Cypher
lurks above and a wave 2 can retrace all of wave 1 and still be valid.
Perhaps this little wave c will tell the tale and trigger a clear short.
Well, what can I say ?
Once again I've been too smart for my own britches, I guess.
Although, I'm damned to find a clear 5 wave subdivision of C
and that is what I was looking for to enter a confident short.
Next week is another trade. Hope I don't dwell on this too much
as I've been missing out on this pair and that grates on my
psychology way too much. Just learn what I can and move on, right ?
The Elliott Wave premise of this trade has not evolved as I would have expected.
A clear 5 wave subdivision of C wave eludes my eyes, so, I'm standing aside for now.
I can see the possibilities for 5 waves if we get a drop and then another upside which
would probably end around the Pt D and retest of the 3 Drive.
should that happen I'll be enticed to enter a short with stops above X
angrybear168 dojitrader
your perdiction came true nice! did you get fiiled?
dojitrader angrybear168
No fill ~~~~
See the comment above.
Price action has me looking for a fill closer to the Cypher
or a little above.
Looks like this pair is gonna make me wait again.
Or is it making me "pay" for not taking the 3 drive when it completed ?
I only see 3 waves so far which might turn this into a flat of some sort:
Maybe even an expanded flat. I think someone said that patients was a virtue.
angrybear168 dojitrader
even with the short set up I think your entry is bit high, 174.14 area looks about right +/- 5 pips
angrybear168 angrybear168
personally I would not take the short because the long on dip looks more promising because trendline fib confluence
I have to disagree with that , one more low then bounce i believe
dojitrader angrybear168
I'm not sure I understand your disagreement ~~~~
Seems like this short set up - target 2 - would set up your buy
just about right in the 172.00 area.
Or was it the timing of the low you're looking for ???
Thanks for your thoughts !
angrybear168 dojitrader
yes timing, i think it will trade the long before the short but we will see
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out