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Elliot vs Scott // IF=THEN ®
U.S. Dollar / Japanese Yen
Long
Elliot vs Scott // IF=THEN ®
By Andre_Cardoso
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Nov 7, 2015
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5
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3
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Nov 7, 2015
USDJPY
Bullish breakout version after 72 days of "consolidation" between Weekly Support W1 and Daily resistance D1
Basic Elliot impulse with 5 waves:
iMPULSE LEG:
Wave 2 = 61.8% of wave 1 (Prices usually do not retrace more than 61.8% of the wave one gains;
Can never exceed the start of wave 1);
wave 3 = 161% ext of wave 1 (can never be the shortest impulse wave);
wave 4 = 38.2% of wave 3 (can never overlap wave 1 [i.e., cross into the same price area]);
wave 5 = wave 1
CORRECTiON:
Wave A = usually around the 50%/61.8% of wave 5
Wave B = Usually 50% of Wave A and Should not exceed 75% of wave A
Wave C = Wave A (AB=CD) *
161% ext Wave A
262% ext Wave A
Cyphers:
CYPHER:
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD
Safe trades;
Cypher
Elliott Wave
impulse
impulsewave
#impulsewaves
USDJPY
usdjpylong
Andre_Cardoso
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