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Elliot Wave Trading

Feb 23, 2017
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Quoting fixme1too
Thanks for responding, is this something you have seen in the past. I cant really comment on it because all I know is EW theory. I thats my system I stick by and like to think I know well. So have you seen this in the past or are assuming. Lifetime I am not trying to appear as I am coming down on you but just as you are thinking Im sure its others thinking the same and will loose money I used to do it to. But my thing was trying to guess the direction of the market after Major news and I would loose everytime until one time I lost 2,000.00 and said thats it no more news trades for me until I found EW theory and sometime you can gauge the direction a little better when news come out or atleast have a better exit plan if the news goes against you. Just like last week I expected us to go down but I thought we would go up first then down. Well just so happens we went down 80+ pips did the yoyo thing all day then I said we would still comeback up after going as low as 8976. we would still hit my 9095 mark and we did it in the same day. So one said on the chat fixme you are crazy if you think the cable is gonna bounce from 8976 and go higer than 9095. Well guess what it did it and did it in the same day. The point in a nutshell is I know my system and the odds of what may happen with my system. Dont trade based on a hunch or what you think. Unless you have something to back it up. Maybe this can be another good topic for Northpro to speak on. By the way team once the chat room is up NORTHPRO will stop by frequently to teach on trading strategies and discipline and most importantly money management.
Well yes this has happened so many times before, just last week Euro price action, when everyone was short from 128 area .. and price spiked up... well people blamed news from china and stuff,, but clearly the move was an over-exageration of whole event.. blown out of proportions to trigger SLs.. I think someone posted in this thread a report from FXCM where it said like 80% people are short and only 20% long at that time.. they must have wiped out all 80% of shorts back than.. wonder how many shorts are loaded now.

Anyways my SL is triggered.
fxtrada.com
I guess you are stopped out now and if i were you I would not keep moving my stop giving the market more money
Stop thinking like that or you will continue to loose. Dont think about it being the broker ask yourself "what the hell am i doing wrong and what can I do to correct it" meaning you. It is not your broker it is you. Most people was short on the EUR last week because that was the correct move even some of the very very good traders got burned on that. I got burned of 30+ pips but could have been more if I did not know my system and I would have just closed for bigger loss thinking OH KNOW THE EUR IS GOING TO THE MOON but from know EW I knew where it would retrace. so I got out fot the 34 pip loss. It was the news that caused the spike not the brokers I dont know where you get that from. Gold went from 9 dollars to 18 dollars in 1 day. Whenever gold is up the dollar is down keep that in your "MINDS EYE" and the news from China certainly didnt help



Quoting lifetime_trader
Well yes this has happened so many times before, just last week Euro price action, when everyone was short from 128 area .. and price spiked up... well people blamed news from china and stuff,, but clearly the move was an over-exageration of whole think.. blown out of proportions to trigger SLs.. I think someone posted in this thread a report from FXCM where it said like 80% people are short and only 20% long at that time.. they must have wiped out all 80% of shorts back than.. wonder how many shorts are loaded now.

Anyways my SL is triggered.
261 fib on the 4 hour for the cable

the cable is just plain greedy lol we are supposed to retrace now lets see if the cable will be nice so some can get back in on the ride down we are already at 138 pips from high to low today on the cable ATR is about 100 to 150 on avg. she may not turn around until EOD for EUROPE market
Hi

Based on 4 hour chart Waves, here is what, I think, GBP pair will reach targets and reversals. Do you see what I see? Fixme what's ur thoughts.
Attached File(s)
File Type: doc gbp 4 hour wave count.doc   82 KB | 322 downloads
prepare for the ride guys..cable going up sooner....
I dont like what im seein on E/J still has room to go up im out
Hi Fixme,

I would like to get your advice in my application of the EW theory.

I'm currently studying and practicing EW in my trading. My day job in Asia permits me to only trade during 6am to 11am Chicago time everyday. In applying EW theory, it was always a challenge to determine where to start counting.

Option 1: start at the shortest time frame of 5min, 15min, 30mins? or

Option 2: start from the longest time frame of monthly, weekly, daily?

Option 3: start from whichever time frame which gives you a clear picture of a 5 wave impulse wave and 3 wave corrective wave

Personally, I use Option 2 -- as it gives me a bigger picture of the wave count possibilities and at the same time, takes into consideration the bigger wave movement possible.

I would like to get your insights on the ff:

1. which time frame do you analyze first to start your EW count?
2. how do you proceed with identifying your EW count? zigzags? flats? support resistance? retracement to the 4th wave of a lesser degree? etc?

Thank you.

RAZRdude
good chance of seeing 8972 on cable and tp on aud im long now aud.
I went long on cable @ 1.9
Eish! If you don't fly with the eagles you'll scratch with the turkeys
Quoting fixme1too
good chance of seeing 8972 on cable and tp on aud im long now aud.
What are you seeing the AUD/USD doing Fixme1too?? I'm trying to figure out the wave count on that one... Appreciate your help..

Shaimus
Quoting fixme1too
I dont like what im seein on E/J still has room to go up im out
me too fixme. i am now looking for some good point for out my short eurojpy.
im long on the audusd now sine 7613. closed a short i had since 7697. Im long until 7722 now



Quoting shaimus
What are you seeing the AUD/USD doing Fixme1too?? I'm trying to figure out the wave count on that one... Appreciate your help..

Shaimus
this may go up more or may not I am waiting for candle stick on lower time frame

if it goes up it should not be much it is already grossly oversold.

Quoting waskito
me too fixme. i am now looking for some good point for out my short eurojpy.
will be taking profit on nzd at 6685 and putting in buy order. nzdusd will do tp later 100 +pips
euro/usd and cable going up....these pair re in uptrend for mid term...
get ready for nzdusd
Quoting jac28403
adsenseguy,

just thought of another idea. Not really sure if this is possible at all, but what about streaming video. So if charles or whomever else wants to show what they see in their charts (wave count, etc...) They can walk us through it with live video. Again, not sure if that would be possible, but that would help some of the people who are struggling with elliot waves (like me ). I read the ebook as well as seen the video (here it is, if anybody wants to see it) http://www.elliottwave.com/education...=789&lesson=16
They are both very good tools as far as understanding the concepts of ew. But just like anything else I dont think you can get a full grasp of it until you get your hands dirty and do it yourself.
Hey,

regarding this it will be a posibility to place a video in the page, within a 5-10 hours, depends when i will be online.
{Link removed, Spam, see rule 2}
Thats great.... this thing is looking like its got a whole lot of promise.

Quoting AdsenseGuy
Hey,

regarding this it will be a posibility to place a video in the page, within a 5-10 hours, depends when i will be online.
ok team i am getting alot of questions on where is the cable and the euro is gonna go. I made mental note to self last night that is why I continued to stress the 2717 range on the euro. well we broke it as I expected we would do. Now I need to see where we close. Look back a couple of post at my count and at others. Everyone else had us at the top of a 5 wave. I had us at an extended B wave after the news. So for better confirmation I need to see where we close on both pairs today. I have to run for a few will be back soon.
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