FxElliottJunkie

FxElliottJunkie

PEOPLE THE SWING UP LOOKS CORRECTIVE. ABC CORRECTION LOOKS LIKE IT MIGHT RALLY TO THE 135,136 AREA AND BE COUNTED IN FIVE WAVES.BUT A TURN SHOULD COME SOON WITH FIVE WAVES LOOKING COMPLETE BUT FIB NUMBERS, ARE A FEW PIPS HIGHER WHERE THERE IS A CONFLUENCE OF RESISTANCE.STOCHASTICS gave sell signal to get short the euro as well.To Trade this ill drop down to an...

FxElliottJunkie

The market and the currencies usually give away there hand at opening bell or before. SPY is falling and currencies are holding for now but pay close attention. One or the other will Give.I am still short Till my trade is done

FxElliottJunkie

Looking at the risk currencies trying to see if a correction in the S&P is continuing or the bigger trend remains.Risk currencies are on the rise this morning wich can be a slight bounce or a reversal from the correction.S&P is correlated with the risk currencies so with a little more patience we can decide with conviction the proper path.

FxElliottJunkie

Aftter the .618 retracement swing up was rejected sold two units short where C should equal 100% of A at aproximate 162.Take profits on first unit at 162 and and adjust stop for a larger potential. If holds wll update on second unit.

FxElliottJunkie

Looking at the S&P Elliott Wave Pattern Structure First and Then Looking at the Risk Currency with the Best correlation and the strongest percentage gains against the dollar made the euro a good call In my opinion.Since the S&P runs inverse to the dollar and runs with Risk Currencies, I went long the Euro from 1.3450 with my stop loss at 1.3354 and will take...