Ewj: elliott wave

Hi Illum, Have you followed USDCAD these two days?

It's moving as expected so far after it came out of the time cycle line. I labeled simple E-waves on the hourly chart, see what you think. And do you have a prediction of how far the move will go?
Thanks!
 

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The OIH doesn't really want to come "off" and the COAL stocks just got "flushed" down and made a pretty significant 10:30am Eastern low, several companies bouncing off of important 21 or 40 day MA's.

ACI: 16.80, Low of 15.60
BTU: 29.90, Low of 28.41
CNX: 35.75, Low of 33.58

This is the BEST trading group ever!!!
Huge move in only 45 minutes!
:)
 
Quote from blnbr:

Hi Illum, Have you followed USDCAD these two days?

It's moving as expected so far after it came out of the time cycle line. I labeled simple E-waves on the hourly chart, see what you think. And do you have a prediction of how far the move will go?
Thanks!
More...

Haven't watched this relationship, watching X, seems like a wave 2, looking to get back in soon. That is a beautiful chart though. Great trade. I do watch the US Dollar index and the energy futures everyday. I made a daily chart to see if I can help give you another look. But you have a clean looking chart, I certainly don't want to mess with your vibe. It looks like your wave 5 could coincide with a 38.2 retracement on the daily. The retracement, wave 4, would be starting from the weakness beginning on 4/1. Dollar not as strong as I thought it would be in this weak market this week. Looking for any cracks in Cl or Landis's OIH.


On daily

The 38.2 would be 1.194

The 23.6 which it is playing with today is 1.176

Beautiful trade, goodluck!
 

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