Thursday, April 20, 2017

#EURUSD 4 HR Elliott Wave Update

#EURUSD 4 HR Elliott Wave Update

Trade Thoughts - Short at 1.0777 against 1.0906 as mentioned in previous post.

Target - Below .9400

The EURUSD has reversed from the 61.8 retrace of the previous wave down and the 161.8% extension for the C wave.

The reverse is looking impulsive but may end up as another nested 1-2 on a smaller time frame. 

#EURUSD 4 HR Elliott Wave Count

#EURUSD 4 HR Elliott Wave Count
#EURUSD 4 HR Elliott Wave Count

Wednesday, April 19, 2017

#USDJPY 4 HR Elliott Wave Update

#USDJPY 4 HR Elliott Wave Update

Update - 04/20/17 4:12 PM CST

The 4th wave triangle is out but I still believe we are in a 4th wave and expecting lower prices.

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Trade Thoughts - Looking for longs around the 107.00 area.

Targets - Long term target will be above 118.70

The USDJPY should be nearing the end of a zig-zag after coming out of a possible 4th wave triangle.  
The RSI has has been creating a converging triangle over the last few months complete with divergence. If price falls out of the triangle and RSI divergence again above 30 it may be a good buying opportunity.      

USDJPY 4 HR Elliott Wave Count

USDJPY 4 HR Elliott Wave Count
USDJPY 4 HR Elliott Wave Count



#EURUSD 4 HR Elliott Wave Update

#EURUSD 4 HR Elliott Wave Update

Trade Thoughts - Looking to short around 1.0777 against 1.0906.

Target - Below .9400

The EURUSD seems to be working on a wave (ii) up toward 1.0777.  The pair is currently consolidating in a 4th wave with a finally spike higher when it is complete. The RSI is coming out of over bought so divergence is possible with the new high.

EURUSD 4 HR Elliott Wave Count

EURUSD 4 HR Elliott Wave Count
EURUSD 4 HR Elliott Wave Count


#USDCHF 4 HR Elliott Wave Update

#USDCHF 4 HR Elliott Wave Update

Updated 04/20/17 4:16 pm CST

We got the new low for wave 5 as expected but didn't quite reach the 61.8 at .9925.  Long at 99716.

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Trade Thoughts - Long Against .9812

Targets - Long term 1.1300

The USDCHF looks like there could be another low for a 5th wave of circle C of ii.  The RSI has moved out of the oversold area so a new low could cause divergence.  

I am currently long on Zulu Trade from .99716 with a stop at .9812.  I hope to add more at .9925.  



USDCHF 4 HR Elliott Wave Chart

USDCHF 4 HR Elliott Wave Chart
USDCHF 4 HR Elliott Wave Chart