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  • #281
  • Oct 29, 2006 6:56pm Oct 29, 2006 6:56pm
Im short AUDUSD at 8pm bar est. stop .7750 tp 7520
  • #282
  • Oct 29, 2006 7:24pm Oct 29, 2006 7:24pm
if usdcad goes to between 1.1190 and 1.1185 good time to go long. it should go to about 1.1208 before going back to 1.1190-85.
  • #283
  • Oct 29, 2006 7:28pm Oct 29, 2006 7:28pm
if 9pm bar est. gaps down good time to long usdjpy is 117.27 or close as possible to it.
  • #284
  • Oct 29, 2006 7:33pm Oct 29, 2006 7:33pm
lets see how usdcad gonna act is she gonna bounce off of 38.2 or go to 50.0 fib then retrace to 1.1190-85. It s all about watching price action to make money in forex. 38.2 is 1.1210 and 50 is 1.1220 I think sentiment of market is still short so we probably wont get to 50.0 fib mark. will have to watch and see.
  • #285
  • Oct 29, 2006 7:49pm Oct 29, 2006 7:49pm
getting close wait to next bar watch gap if gap down let 9 pm bar go down somemore then go long.



Quoting fixme1too
if 9pm bar est. gaps down good time to long usdjpy is 117.27 or close as possible to it.
  • #286
  • Oct 29, 2006 8:01pm Oct 29, 2006 8:01pm
usdjpy is finished nice time to long
  • #287
  • Oct 29, 2006 8:03pm Oct 29, 2006 8:03pm
almost there watch price action then you can place your position for long



Quoting fixme1too
if usdcad goes to between 1.1190 and 1.1185 good time to go long. it should go to about 1.1208 before going back to 1.1190-85.
  • #288
  • Oct 29, 2006 8:06pm Oct 29, 2006 8:06pm
hope you all are seeing what I mean by price action right when I said usdjpy was finished it took off up it is up 12 pips already.
  • #289
  • Oct 29, 2006 9:18pm Oct 29, 2006 9:18pm
slid more than expected on all pairs with usd cross. B waves are now complete by rule on usdcad and usdjpy should be on the way up now. if you got in at advised entry by rule usdcad should go to 1.1219 for small tp and usdjpy 117.90 tp on the usdjpy. this is all based on the hourly charts. last week hourly did not fair so well lets see how it does this week. My overall trades are the trades I feel strong about. The ones posted on Friday evenings. the trades listing now are short term and are works in progress. So far it has been trading according to EW theory.
  • #290
  • Oct 29, 2006 9:39pm Oct 29, 2006 9:39pm
.7705 is 261.2 fib mark on AUDUSD lets see if we can get bounce of this. RSI is +75 on 4hour and daily. If we hit 7705 or however close we get to it would be another great entry for short. this pair is way overbought this is looking just like usdjpy was looking around 10 13 06 but usdjpy wasnt this overbought. excellent short oppurtunity for this pair long term meaning a week or so.
  • #291
  • Oct 29, 2006 9:40pm Oct 29, 2006 9:40pm
I must get to bed have to be up at 4 am. See you guys in the morning.
  • #292
  • Oct 30, 2006 3:20am Oct 30, 2006 3:20am
So far everything is trading to par. Short tp should be hit today. Entry for long term shorts on usdcad and usdjpy will probably come at the end of the week. or close to it.
  • #293
  • Oct 30, 2006 3:29am Oct 30, 2006 3:29am
if you took short term trades you should be in profit now. Im only in audusd which is going to be the big money maker for me. For right now atleast. Once these waves play out. GBPUSD should go to the moon next week and big profits to be made on usdcad usdjpy next week. Im talking 200+ pips. Must get ready for work now We have alot of Cases to do today. See you guys this evening about 8pm est. If I can get on between cases today I will.


Happy trading.
  • #294
  • Oct 30, 2006 3:53am Oct 30, 2006 3:53am
lol on the way out the door. If you are in usdcad it finished now will start trading down to about 1.1188 before going up to about 1.1245 short term on hourly.
  • #295
  • Oct 30, 2006 10:10am Oct 30, 2006 10:10am
Looks like GBPUSD almost hit 1.9050 target today. Lets use center point method this evening to get better gauge on direction. It still has possibility to go up pass 1.9050 Wave 1 is really supposed to trade higher that preceding wave. Also I think I may have discovered my misjudgments on short term trades on the hourly charts will update this eve.
  • #296
  • Oct 30, 2006 10:17am Oct 30, 2006 10:17am
Quoting babarmughal
Can you please post elliot wave study material...if you have any ??

Thanks
babarmughal

Fixme1too gives a real good link to Elliot Wave for an online source about Elliot Wave. If you really want to get into Elliot Wave some books to get are:

Elliot Wave Principle: Key to Market Behavior by A. J. Frost and Robert R. Prechter.

This is considered the bible of Elliot Wave. It contains eight chapters of which three discuss the principle itself and is jam packed. You will spend a lot of time going over these three chapters. The other chapters provide some historical perspective and comparisons to other trading methods.

Applying Elliot Wave Theory Profitably by Steven W. Poser

This book is geared more towards the trader. It covers everything that Prechter's book has but with more detail that is useful to a trader. It even has a chapter on how to build your own Elliot Wave trading plan. I am still reading this one and finding it very useful.

Mastering Elliot Wave: Presenting the Neely Method by Glenn Neely and Eric Hall

This will be my next book purchase. From what I understand Neely covers most everything that is in the first two books but also claims to have identified several other wave patterns not covered in previous books. I have heard a lot about this book but it is very expensive and probably not a good first book. It is also not geared towards the trader.

Jeffrey
  • #297
  • Oct 30, 2006 11:29am Oct 30, 2006 11:29am
Quoting jjenkin777
babarmughal

Fixme1too gives a real good link to Elliot Wave for an online source about Elliot Wave. If you really want to get into Elliot Wave some books to get are:

Elliot Wave Principle: Key to Market Behavior by A. J. Frost and Robert R. Prechter.

This is considered the bible of Elliot Wave. It contains eight chapters of which three discuss the principle itself and is jam packed. You will spend a lot of time going over these three chapters. The other chapters provide some historical perspective and comparisons to other trading methods.

Applying Elliot Wave Theory Profitably by Steven W. Poser

This book is geared more towards the trader. It covers everything that Prechter's book has but with more detail that is useful to a trader. It even has a chapter on how to build your own Elliot Wave trading plan. I am still reading this one and finding it very useful.

Mastering Elliot Wave: Presenting the Neely Method by Glenn Neely and Eric Hall

This will be my next book purchase. From what I understand Neely covers most everything that is in the first two books but also claims to have identified several other wave patterns not covered in previous books. I have heard a lot about this book but it is very expensive and probably not a good first book. It is also not geared towards the trader.

Jeffrey
Thanks Jeffery for your reply.....
  • #298
  • Oct 30, 2006 6:15pm Oct 30, 2006 6:15pm
today was excellent will post charts for what happened with short term trades and explainations on how to trade short terms
  • #299
  • Oct 30, 2006 6:25pm Oct 30, 2006 6:25pm
time for us in usa went back so new day on forex starts at 7pm est for us now todays middle is 1.8999. so its time to short GBPUSD. The open was 1.8994 so this indicates short. Oh by the way did you guys see the high for today 8 pips shy of my 1.9050 ptrdiction posted 10-11-06. We should be ready to form our 2 wave now on the daily once complete we can long for very big profits 400 pips.http://www.forexfactory.com/forexfor...ons/icon10.gif
  • #300
  • Oct 30, 2006 6:28pm Oct 30, 2006 6:28pm
AUDUSD should really start to go down now. Did you guys see the bounce of 7705 today even with the bad news for usd we did not get spike over 252 fib level. everything else spiked that had a usd cross thats what gave high of the day for gbpusd.
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