DISQUS

Afraid to Trade Blog: Color Daily EURUSD Forex Chart Shows Lengthy Divergences

  • fufufnik · 1 month ago
    Corey, Am I correct in believing that the paintbars you are using are from LBR?
    If so, could you tell me how I could download these paintbars?
    Thanks a bunch,
    -todd
  • Corey Rosenbloom, CMT · 1 month ago
    Hey Fufufnik,

    Absolutely, though I've modified the file slightly to show the yellow color instead of just the red and green.

    You can download the TradeStation file from Linda's LBR Group FAQ page:

    http://www.lbrgroup.com/index.asp?page=FAQ
  • Name · 1 month ago
    The waves you label as 1, 2, 3 are better labeled as an A,B,C. because A=C.
    A triangle links the correctional ABC to a 5 wave impulse. The US dollar trails the long term bond market by months and has matched the bond decline pattern perfectly. The bond decline was an ABC followed by a triangle and 5 waves. We should see months of an ABCDE upward consolidation in the US dollar from here on. It's going to be a bumpy ride down for assets. C and E is going to be the worst.
    Or so I think...
    Thanks Corey for sharing. Your blog is on my must-visit every day list.

    Marc
  • Corey Rosenbloom, CMT · 1 month ago
    Thanks Marc!

    That's what gets me about this count - which is similar (though inverse) in the Dollar Index itself (and Euro index).

    The 1 and 3 form an "AB = CD" relationship (measured move) roughly, and they tend towards symmetry... but the 5 is just ... all over the place in seeming strangeness.

    For Elliott Wave counts, I tend to simplify them so as to get the main idea, eschewing a purist count and trying to see the larger picture (for example, negative divergences).

    Thanks for sharing your insights! Much appreciated.
  • moneycometh · 1 month ago
    Both, your example of the 3/10 oscillator and the Elliott's are two great tools I've looked into. I'm in the process of printing out your oscillator example. I'm doing the same with the Elliott's wave principal.