Elliot Wave Trading

Ian did you get the Private msg

gold went from 9 dollars yesterday to 18 dollars today. another bad thing for usd

and china diversifying doest help either.

can we have some come to chat room analysing todays aciton

yep theres too much dollar neg action going on right... really hurting what would be some good trending action...

ok team aud is movinig and so is gbpusd but that damn thing is like a raging bull so will let it show its hand first. So far we didnt make it to 9095 but we did see 9092 somebody here asked do you really think we will go back up that high after making the 8990's well the proof is in the pudding. this was my original area for the entry if you guys remember. if gbpusd decides to go down we can jump in on a retracement. this is no confirmation of what will happen now because some big things happened to drop the dollar with china doing whatever they are doing and gold going from 9dollars yesterday to 18 dollars today these things combined really weakend the dollar we need to watch gbpusd but for my money I still say she is going to go down but with a fight.

the entry point for audusd was 7692 we hit it and in now down to 7680. lets see if we can get down to 7611 before it will retrace but overall we should go to 7488

GPBUSD, Wave 4 started today, going down to 1.8950 before Wave 5 starts.

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Perfectly. We shall a little decrease and again an ascention uphill.

A Look At This Week And The Week To Come <HR style="COLOR: #d1d1e1" SIZE=1><!-- / icon and title --><!-- message --><HR style="COLOR: #d1d1e1" SIZE=1>




<!-- / icon and title --><!-- message -->A LOOK AT THIS WEEK

This has been one HELL of a week. We had some very unexpected news that was very detrimental to what we are trying to achieve. With gold going from nine dollars on 11-08-06 to eighteen dollars on 11-09-06 and the news from China just exacerbated things to the utmost. After re-evaluating my wave count, I was on point and we should have been on the way down with a small retracement for the b wave. I lost for the week 32 real pips after trading EURUSD. But my other predictions failed as well but I did not trade them live so cant really post pips gained or lost. EUR completed a 5 wave cycle but had a hell of complex wave on the b wave we should have only gone 78% but went way over 100% of A wave. Well, the news caused me to believe we would make to the 144% especially with the momentum the EUR had going up. The same happened with the GBPUSD. This goes to show regardless of the system you use, anything can happen. Some have this top as being the top of a 5 wave. This is not the case I will post charts with the correct count. When scenarios like this take place I like to keep it in my MINDS EYE. I dont want this explanation of what occured to be viewed as an excuse but I re-evaluate when I have a failure to see what can I do in the future if anything, to help us limit losses. With this said it is really time to step up the game. We need to set goals, everybody. Use better money management, which I know for a fact after speaking with some of you via Instant messages and I would like for us all to keep a journal of all trades. I mean a real journal not like this one, but a notebook , tablet or something. We will right down trades we take with the date and time along with sl tp and results. We will use this to determine how much we put on a trade. Also, there are some with FX trading brokers who do not allow mini lots. It is my recommendation to find brokers that allow mini lots. I think if you dont have a 10 to 15,000 dollar acct minimum, you should not trade full lots. Trading full lots, will not allow you to afford big stop loss of at least 50 to 100 pips. By trading mini lots 100 pips on 2 dollars a pip will be only 200.00 as the acct grows we can then increase the size of the trade. Similar to compounding interest. Also for now on I will be evaluating all usd cross pairs and listing predicitions and keeping good book keeping. In the past I would just get pips loose some but set goal to gain more without keeping track. By keeping record of trades this will force us to be more disciplined and use better money management skills. I know some is looking forward to chat room news. Well we have fellow team mate theadsenseguy
to thank for what is to come. He came up with the idea and implimented it on his own. Look for this in the emails that will be sent out. Also EW ebooks will be sent this weekend. Had so many request it became a weekend chore. Team we are really about to step it up. Also to give credit where credit is due the money mngt idea and better record keeping was from teammate NORTHPRO. This just goes to show how much we can all accomplish as a TEAM also I really have to send BIG THANKS out to YANO125 he has really been helping me as the team grows. Well I think I have said enough for now.
Since I will be doing all USD cross pairs I will post sometime this weekend I want to really spend time really evaluating charts closely.

SEND IM WITH EMAIL IF YOU WOULD LIKE TO JOIN THE TEAM
Hope everyone have a very nice weekend and lets make some money next week and have fun doing it.http://www.forexfactory.com/forexfor...ons/icon12.gif
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gbpusd when looking at chart look at where B ends we overshot here almost to the 144 mark. I had us getting in at 78% max fib for a wave b as you can see momentum from yesterday sent us to 144 almost. then retraced to where we are supposed to be near the 78% mark which is max of a wave b I see us going down from here setting stop at today high and tp at where wave 2 is to end at while getting to this point we will have many up and downs when wave b over shoots like this I call it complex wave and thats what happened let me post eur

here is the eur. as you can see at my 2775 entry we we right at 78% the extreme fib for b wave then we start our downward move. Then the next day news came sending us up. Nice retracement today not to 78% but we will get there tp is 2600 and sl is 2950.

hi fix.

i'm trying to understand the charts you posted above.

first question is about gbp/usd chart.

does wave 4 overlaps wave 1? if yes this is against one of the basic rules of ew theory.

on eur/usd chart i see:
five wave 12345;
then i see a-b but not a c and complex b and then a A wave.

what kind of count is that?

look at wwwin count that's a good way to number waves.

sorry if i bother you, but i think is good for everyone to understand the right principle of ew theory.

any explanation from you is appreciated.

everybody lets post your counting, this is a discussion thread. we all should participate to improve our skill and sharpen our eyes.

http://img150.imageshack.us/img150/6...eurocb1.th.png

{image deleted - please repost 600x600max}

Target to wave 5th at 1,9233 or more... see you

gamelu



What time of the day did you do you analysis on this chart. The highs and lows at the left upper part of your chart is different from the close of the day making my analysis different on the 4 hour chart at that time of the day when you did your analysis I agreed with you 100% let me post my 4hour chart that I used to help me with the count on the daily also can you make your charts smaller

I will be posting my 4 hour count

Ok here we go and this is perfect example of why I say keep things in your "MINDS EYE" here we have 12345 formation and a "COMPLEX A" on the 4hour with a overextended B wave. Just as we had "COMPLEX A " wave on the daily a couple of weeks ago look at my chart for the gbpusd that I posted on the daily. Now this is the four hour chart here. Do they look the same at all with the Daily being a little more progession and in the opposite direction but same concept. When I say let the pair " SHOW ITS HAND" this is what im speaking of. Sometimes just have to let the chart develope to get a little more confirmation. Also looking at the 4hour we have dbl top with nice inverted head and shoulders. One more thing where the C wave ends on the 4hour the is exactly where the 2 wave on the daily ends at 78%. compare the two charts that I have posted on the daily and the 4 hour and you will see what I mean.

Emails have been sent out to those who have IM me stating you would like to join the team. Those that have not sent E mail address and would like to join, you can send IM with email address. http://www.forexfactory.com/forexfor...ons/icon12.gif

disregard the sale limit and buy lines on the chart. I was testing something and thats why they are there

Fixme1to,

Question about the 2 GBP/USD charts your posted.. On the Daily it appears that you are saying that the 5 wave is continuing up.. But on the 4 hour chart it seems that you are saying that wave B is complete and it is now in wave C going down to 1.8661 Not sure I'm understanding what is taking place here..

Thanks for your information and time as I've found your thread quite educational

Shaimus

shaimus do you have yahoo. if so we can take this to a conference room with everyone so i can better explain

if not let me know

my yahoo id is [email protected]