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My trades by Dave

  • #1,681
  • Oct 5, 2006 11:19am Oct 5, 2006 11:19am
Quoting jonmartins
Hey Dave,

Do you see this Gartley on the 4Hr GBPUSD?

I like your journal.

Thanks

Jon M.
way ahead of ya. Is this the one your talking about? I had the reversal point pre plotted. When I saw the price stop and reverse right in my blue box I jumped on it.

I'll have to see if I saved a chart with boxes pre plotted.

I entered long 30 min ago.

Dave
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  • #1,682
  • Oct 5, 2006 11:21am Oct 5, 2006 11:21am
Quoting kenari05
david would you mind to share the ewocci indicator and its method description? TIA
Here's method.

Dave
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File Type: doc EWOCCI.doc   39 KB | 450 downloads
  • #1,683
  • Oct 5, 2006 6:55pm Oct 5, 2006 6:55pm
Quoting xxDavidxSxx
way ahead of ya. Is this the one your talking about? I had the reversal point pre plotted. When I saw the price stop and reverse right in my blue box I jumped on it.

I'll have to see if I saved a chart with boxes pre plotted.

I entered long 30 min ago.

Dave
Yeah, that's the one. I didn't get in, though. I think it might still try to retest the previous low or go as low as 79%. And tomorrow being Freaky Friday.

Do you see this as a Gartley or a Butterfly?
Where are you planning to start taking profits???

I notice that the 100% Expansion Level(1.9015 ish) is just a bit shy from the 2 month Resistence line on the Daily Chart.

Thanks for the input.

Jon M.
  • #1,684
  • Oct 5, 2006 9:39pm Oct 5, 2006 9:39pm
Quoting jonmartins
Yeah, that's the one. I didn't get in, though. I think it might still try to retest the previous low or go as low as 79%. And tomorrow being Freaky Friday.

Do you see this as a Gartley or a Butterfly?
Where are you planning to start taking profits???

I notice that the 100% Expansion Level(1.9015 ish) is just a bit shy from the 2 month Resistence line on the Daily Chart.

Thanks for the input.

Jon M.
I have it layed out as a butterfly.

on a gartly wave B has a low% retrace of wave X. This wave B is 61.8%

Your correct that wave C might make new lows and probly will as the waves didn't look right for that to be the bottom. I stayed in for a while, but when it kept comming back to my entry, and 1 hr candle refused to close above 8ema And 5wma(from kolachi) refused to cross the 8ema I got out at B/E. Plus the markets waiting for news tomarrow so I guess I am waiting too.

I hate this "waiting for news" crap. Becaused after the news comes out the market is no better or worse, and alot of times the price comes right back to where it started at befor the news. Leaving every one thinking "now what".

edit: on taking profits...I dunno I usually set e-trailing to move s/l to b/e and trail every few pips there after. So I usually get stopped out befor any target is reached. I need to figure out a god trailing s/l level so I can take bigger profits. I usually get 20-40pips
I'll get back in on this possible butterfly once a reversal is more apparent.
Dave
  • #1,685
  • Oct 9, 2006 12:16am Oct 9, 2006 12:16am
I am looking at this North Korean Nucular testing thing and wondering what effect it will have on the USD.

I see JPY falling across the board. But It is a holiday in Japan right now. And its not taking huge leaps or anything. sept on gbpjpy, and it moves big anyway.



Any ideas of what we might expect from london and U.S. sessions?

Dave
  • #1,686
  • Oct 10, 2006 2:23pm Oct 10, 2006 2:23pm
Quoting xxDavidxSxx
and actually it could go as low as 1.2500 befor going to my target as a wave e can over extend.



""""Triangles appear to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. Triangles contain five overlapping waves that subdivide 3-3-3-3-3 and are labeled a-b-c-d-e. A triangle is delineated by connecting the termination points of waves a and c, and b and d. Wave e can undershoot or overshoot the a-c line, and in fact, our experience tells us that it happens more often than not.""""
looks like the as low as 1.2500 senario has played out.

Now looking for a nice long position to enter. Price has been trending down for 5 days now. Its due for a correction at the least.

I will make a chart with a projection. But my long term projection will have to be modified according to the latest moves down. Gotta see exactly how it fits in.

Dave
  • #1,687
  • Oct 13, 2006 4:01pm Oct 13, 2006 4:01pm
I tried to get this posted this morning just befor news but FF site was down, and I went to sleep once I saw it go my way.

Short was taken at 1.2546
s/l was 1.2585

Target is open.

E-trailing was set to move to b/e at +35 pips and trail every 5 there after.
Now s/l is at 1.2525. I might raise it a little when the market opens. I expect the price to reach 1.2455 because that is major support and major 38.2 fibo of a weekly scale.

The buy signal prior to this I mentioned in another post didn't look good to me because all the MA's were to far from crossing the 55 ema.
This short signal had all the ma's crossing back down the 55 ema and pivot, ewo,cci were all crossing at the same time. That is always a good sign when they all cross on the same candle or two.
edit: the correction I mentioned in the above post was shallow. It left a clear a,b,c, zig zag as you can see in the chart...the yellow ma is the 55 ema.
Dave
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  • #1,688
  • Oct 13, 2006 8:02pm Oct 13, 2006 8:02pm
what happen to your cable long?
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  • #1,689
  • Oct 13, 2006 8:30pm Oct 13, 2006 8:30pm
Quoting kenari05
what happen to your cable long?
you mean the butterfly cable long?

The pattern crapped out and I belive my trailing s/l was hit for small profits...I think 18 pips. Mabe less.

Sry I forgot to post results.

All the butterfly patterns I post are experimental. That is one of 2 I took on real money.

I am trying to get help from a person who is really good at those patterns. So we might see more of them posted in the future.The euro$ long term pattern I posted is invalade and will have to re-evaluate the long term formation later this weekend.

Also I am not so good on gbp$ trades. I am going to use some of Adam3000's technique combined with mine, for that pair, and see if I can get better results.

Dave
  • #1,690
  • Oct 13, 2006 10:06pm Oct 13, 2006 10:06pm
Quoting xxDavidxSxx
I tried to get this posted this morning just befor news but FF site was down, and I went to sleep once I saw it go my way.

Short was taken at 1.2546
s/l was 1.2585

Target is open.

E-trailing was set to move to b/e at +35 pips and trail every 5 there after.
Now s/l is at 1.2525. I might raise it a little when the market opens. I expect the price to reach 1.2455 because that is major support and major 38.2 fibo of a weekly scale.

The buy signal prior to this I mentioned in another post didn't look good to me because all the MA's were to far from crossing the 55 ema.
This short signal had all the ma's crossing back down the 55 ema and pivot, ewo,cci were all crossing at the same time. That is always a good sign when they all cross on the same candle or two.
edit: the correction I mentioned in the above post was shallow. It left a clear a,b,c, zig zag as you can see in the chart...the yellow ma is the 55 ema.
Dave
hey david.. nice journal.. my question.. do u put the trade in the journal beore actually goin in on a trade?? or do u post in the forum after the trade is underway?? and also is elliot method the only method u use for ur trades?
BECAUSE I CAN !
  • #1,691
  • Oct 14, 2006 2:49am Oct 14, 2006 2:49am
Quoting YasirYar
hey david.. nice journal.. my question.. do u put the trade in the journal beore actually goin in on a trade?? or do u post in the forum after the trade is underway?? and also is elliot method the only method u use for ur trades?
whenever possible I try to post the trade seconds after making it. But the trade will almost always be seen on my charts. I don't provide a signal service so if I post the trade late it don't concern me. I did try to post this one but FF was down due to heavy volume right befor news. Alot of times I'll take a trade and then once it goes my way I'll go to sleep, so I don't freek out on market noise and pull it out to early.

My primary method is my ewocci method. I have an arsonal of methods though including elliotte wave analysis.
Sometimes I enter on approach of major weekly/daily support/resistance trend lines. It all depends on market conditions. I try to let the market tell me whats approperate. My targets are usually open and I let a trailing s/l take me out, or again the approach of major suppport/resistance ranges.

Current trade should approach major support at 1.2454 range. If my trailing s/l don't get hit befor hand.

Dave
  • #1,692
  • Oct 14, 2006 3:09am Oct 14, 2006 3:09am
Here is new daily chart revised due to recient move.

Looks like a diagnal triangle comming to and end on a wave "e" overextention.

Move should end around 1.2454 38.2 major support. If this range is broken in a sustained break then it will target 50% fibo at 1.2300.

Dave
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  • #1,693
  • Oct 14, 2006 2:04pm Oct 14, 2006 2:04pm
I appreciate the charts you have posted on the EUR/USD. I seen where you made a post on Northpro's thread, and thought I would come and take a look at your thread. I will be reading through your entire thread this weekend to get caught up with your analysis.

Thanks and have a great weekend!

Monarch
  • #1,694
  • Oct 14, 2006 9:38pm Oct 14, 2006 9:38pm
i started liking this ewocci technique... hopefully will get me out of my day job

just wondering why this technique cannot be used on smaller time frames?

may i know when do you start practicing this method? i will start reading your post regarding this proven method
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  • #1,695
  • Edited Oct 15, 2006 10:46am Oct 14, 2006 10:05pm | Edited Oct 15, 2006 10:46am
Quoting kenari05
i started liking this ewocci technique... hopefully will get me out of my day job

just wondering why this technique cannot be used on smaller time frames?

may i know when do you start practicing this method? i will start reading your post regarding this proven method
I guess I started this method 6 months ago. It takes some practice to learn when to stay out of a bad market. The use of a 8 ema and 55ema helps alot.

Like all methods there are good times and bad times. Once I get 3 losses in a row I sit it out untill a big move is made.

I have found it can be used on gbp$ 15 min chart. and gbp/jpy 30 min chart. But be warned...gbp/jpy can take alot of your money when it losses because it requires huge s/l. Past few weeks have been really bad for gbp/jpy.
I'd love to find a way to trade gbp/jpy cause it makes such big moves. If you want to test on a demo and figure it out let me know if you find something that works.

This method seems to find the turn of mid term waves. In a good market singals last for days....ex: 2 signals ago was a sell signal I slept through, and it lasted for 5 days and 200 pips. (stupid sleep)
  • #1,696
  • Oct 16, 2006 2:38am Oct 16, 2006 2:38am
Current trade..

I labled the previous zig zag as what looked to be a distinct 3 wave correction. This means this move down should have 5 waves. We are now in what looks to be a sideways correction. mabe a wave 2 sideways.
Not gonna try to lable them. Just the fact there was 3 distinct waves. Because the down move befor it had a definate 5.
Using the 5/3/5 rule of e-wave. And you can see the sideways correction has done a 38.2 retrace according to fibos on the chart

s/l is just above pivot resistance at 1.2525. That doesn't mean it won't go up there befor going down.

If it hits my s/l I can get a short re-entry signal on the re-cross down of pivot. Profits are locked in anyway.

Dave
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  • #1,697
  • Oct 16, 2006 3:01am Oct 16, 2006 3:01am
Quoting xxDavidxSxx
Current trade..

I labled the previous zig zag as what looked to be a distinct 3 wave correction. This means this move down should have 5 waves. We are now in what looks to be a sideways correction. mabe a wave 2 sideways.
Not gonna try to lable them. Just the fact there was 3 distinct waves. Because the down move befor it had a definate 5.
Using the 5/3/5 rule of e-wave. And you can see the sideways correction has done a 38.2 retrace according to fibos on the chart

s/l is just above pivot resistance at 1.2525. That doesn't mean it won't go up there befor going down.

If it hits my s/l I can get a short re-entry signal on the re-cross down of pivot. Profits are locked in anyway.

Dave

LOL soon as I posted price took a turn. Dunno what caused that. GBP was on a major rally.

s/l hit ...+25 pips
  • #1,698
  • Oct 16, 2006 5:50pm Oct 16, 2006 5:50pm
EWOCCI BUY Signal. Price broke high candle from initial cross to trigger entry

long 1.2541
s/l 1.2515 below new daily pivot (1.2520)

Target open....s/l trailing to b/e at 20 pips and every 5 pips there after.


Beware of 8 day ema blocking path at 1.2560!!!!

Dave
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  • #1,699
  • Oct 17, 2006 5:19am Oct 17, 2006 5:19am
Well guys and gals...

I am holding this euro lond due to long signal. But the euro$ don't want to go up. resistance is at my entry and support is pivot. Price came with in 2 pips of my s/l. Currently at 1.2533 it could go anywhere.
I am done stressing it I figure its gonne be a loss.

Technically speeking price remains above pivot. Remains above 55 ema. And 21 sma is barely crossed up the 55 ema. CCI remains above 0 line. So this is why I'll just let it ride. short term technicals are slightly bullish. But either way is risky for now.

Dave
  • #1,700
  • Oct 17, 2006 6:12am Oct 17, 2006 6:12am
Quoting xxDavidxSxx
Well guys and gals...

I am holding this euro lond due to long signal. But the euro$ don't want to go up. resistance is at my entry and support is pivot. Price came with in 2 pips of my s/l. Currently at 1.2533 it could go anywhere.
I am done stressing it I figure its gonne be a loss.

Technically speeking price remains above pivot. Remains above 55 ema. And 21 sma is barely crossed up the 55 ema. CCI remains above 0 line. So this is why I'll just let it ride. short term technicals are slightly bullish. But either way is risky for now.

Dave
closing position at 1.2526
-17 pips

CCI is crossing back down 0 line

Dave
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