Elliott Wave Forex Signals - Long GBPAUD

This sucker burned me for over 200 pips last time I tried to get long, but with an ABC "Flat Correction" counted, it makes sense how I got faked out last time.  This pair fired off a buy signal confirmation with today's close on the daily charts.  Since it's on the daily charts, it is a huge trade.  There is also long standing bullish divergence of price vs. momentum, and if it's a wave ((c)) up getting started as I have it labeled, it will be a sharp move up for hundreds of pips.  And lastly, a similar pair, the GBPCAD also fired off a bullish confirmation signals, something that didn't occur last trade, so that is also encouraging as well.  I want to enter only 1/4 position now and will consider adding more on weakness:

Bought 1/4 position at market at 1.8511
Stop Loss at 1.8270
Profit target at 1.9000

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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.

Elliott Wave Futures Signals - S&P ES

The S&P is testing channel line support right now in what is probably wave ((4)).  I expect a move higher from here to the middle line of the channel to complete wave ((5)) of iii.  A breakdown from here, and a strong daily close beneath channel line support, could signal something much more bearish in the works.

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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.

Elliott Wave Forex Signal - AUDNZD Sell Stop Order Cancelled

Looks like acknowledging the importance of the different forex sessions and their relative signals was crucial in approaching this trade. I wanted the US session to confirm the sell signal from the London session before entering the trade. That did not happen and so I did not get short. As a result, the pair shot up to a new high, completely invalidating the trade....for now.  The pair is over ought and is wrapping up a five wave rally so I'm still looking for an opportunity to get short.

ORIGINAL POST:

On the 1hr AUDNZD chart you can see that the pair is wrapping up a large 5 wave rally, and is currently in a wave ((iv)) that should bring the pair down to the 1.1048 level.  This looks to be a (c) wave so it should be quite sharp, and so the fact that my proprietary indicators triggered a short signal early this morning tells me we'll get a nice move lower soon.

Overnight signals are reliable, although they are not the most reliable.  So I want to see some follow-through to the downside in the US session.  So I'm going to short on a new low and further weakness only.  If a new low occurs in the US session, I'm looking for a sharp move lower to the 38% Fibonacci retracement level around 1.1050-1.1100.  Here's my trade:

Sell stop at 1.1200
Stop 1.1295
Profit Target 1.1100

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 PLEASE NOTE: THIS IS JUST AN ELLIOTT WAVE ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

Elliott Wave Forex Trading

Moving SL on EURAUD to 1.4745

I don't like the struggle this pair is going through to hold gains so I want to aggressively reduce risk at every opportunity.

Closing half USDCAD Position, Stop to Breakeven