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Elliot Wave Trading

  • #961
  • Nov 14, 2006 7:09pm Nov 14, 2006 7:09pm
if so 9122 would be the tp and could go as high as 9155 then we finally short to 8650's that is when I m gonna trade the cable
  • #962
  • Nov 14, 2006 7:33pm Nov 14, 2006 7:33pm
tp on aud and nzd today for 60 pips on aud and nzd 40 pips will reenter as we go back down should hit 7629 on aud and 6600 on nzd

for reentry on long to eventually 6714 on nzd and 7735 area on the aud
  • #963
  • Nov 14, 2006 7:41pm Nov 14, 2006 7:41pm
eurjpy may not be as nice as the cable and go to the 38% fib if not it will go to at least 151.10 to 151.24 this is a B WAVE as you know these can overextend so if you are gonna trade the C wave down as we are on the cable I would wait for good confirmation of the downward move.
  • #964
  • Nov 14, 2006 7:41pm Nov 14, 2006 7:41pm
Quoting fixme1too
I believe this is our move up on the cable

fixme1too,
if cable is going up, what wave did it just complete?
  • #965
  • Nov 14, 2006 7:58pm Nov 14, 2006 7:58pm
guys I know these pairs are not as popular and the EUR and Cable but you will make money with them 100% or better on your money if you wanted each pip to = 5 dollars I think the lot is only 730 dollars to do that. Not bad especially knowing that your take profit is 100 pips atleast. just something to think about



Quoting fixme1too
tp on aud and nzd today for 60 pips on aud and nzd 40 pips will reenter as we go back down should hit 7629 on aud and 6600 on nzd

for reentry on long to eventually 6714 on nzd and 7735 area on the aud
  • #966
  • Nov 14, 2006 8:58pm Nov 14, 2006 8:58pm
BIG A wave and if we get the bounce off of 8932 we are going up



Quoting sarama001
fixme1too,
if cable is going up, what wave did it just complete?
  • #967
  • Nov 14, 2006 9:46pm Nov 14, 2006 9:46pm
Guys I am getting alot and I mean alot of this same question in my PM's

hi der, are you sure that its the Big A wave for GBP? so where would the gbp go before it each 9100? u think it will retrace again today to the 38.2 %? thanks
<!-- / message --><!-- sig -->You can never be sure in any type of trading because EW theory is so accurate in forex I think some may think it is written in stone that the market will defineitly do a specific thing. All ways remember in trading anything can happen. Am I sure the cable will go up? No I am not sure. Do I think the cable will go up.Yes I do. Why? because of the chart formation and from past experience. Knowing the cable it is possible to go to the 50% fib lievel. But from looking at support levels I like the up move. Let just watch price action see if we can get the bounce off of 8932 if we do then thats a good indicator of going up. Another reason I think we are going up is because we have completed 12345 a and finishing the b wave on the 4hour chart that is why we are going down right now the end of b wave on the 4 hour should be the 8932 level. Now if you draw a fib retracer on this 12345 wave on the daily at the 75 % fib which is 9124, is where tp should be but since so many people are hell bent on the cable going to 9200 this may send us to 9165. If the market will just be patient once we get to the 8650's we should by pass your 9200 mark and hit the 9400's . So now you just have to watch and be patient dont jump the gun and pull the trigger and let the market show its hand. Hope that helps
  • #968
  • Nov 14, 2006 11:28pm Nov 14, 2006 11:28pm
Quoting fixme1too
if so 9122 would be the tp and could go as high as 9155 then we finally short to 8650's that is when I m gonna trade the cable
You are expecting GBP to go as low as the 8650 area.
This is just a simple question that popped into my head.
If the GBP is going to drop to 8650 area, why don't you place a short now and pick up a bit of pips, then when it gets there, you can place your long for the ride back up.
Would it benefit more to have a gain going both ways?

Thanks, just a thought.

Monarch
  • #969
  • Nov 15, 2006 12:02am Nov 15, 2006 12:02am
Quoting monarch
You are expecting GBP to go as low as the 8650 area.
This is just a simple question that popped into my head.
If the GBP is going to drop to 8650 area, why don't you place a short now and pick up a bit of pips, then when it gets there, you can place your long for the ride back up.
Would it benefit more to have a gain going both ways?

Thanks, just a thought.

Monarch
I'm not sure if my understanding is correct but fixme1too suggests that cable will go north to 9122 or even 9155 before heading south to 8650.

Which simply means go LONG now till 9122 (9155) then SHORT from their to 8650

Am I right ??
  • #970
  • Nov 15, 2006 3:20am Nov 15, 2006 3:20am
Quoting Justin
I'm not sure if my understanding is correct but fixme1too suggests that cable will go north to 9122 or even 9155 before heading south to 8650.

Which simply means go LONG now till 9122 (9155) then SHORT from their to 8650

Am I right ??
about the long position.. i may take lot of cautions cause wave 2 is corrective wave.. its hard to predict the end of the wave..
  • #971
  • Nov 15, 2006 3:49am Nov 15, 2006 3:49am
Are you still long on the NZ and AUD? What say you?

Alex
  • #972
  • Nov 15, 2006 4:05am Nov 15, 2006 4:05am
This is correct 1st lane that is why I would wait but we did not bounce last night and have broke 8921 showing that we can very well go to as low as the 8650's now. Scenario 1 we go to 8650's if this happens this mini C wave of the extended b on page 52 chart will go to 261.8 area of that mini b wave after fib is put on it. If this happens we will form a 12345 wave complex to get there insead of a ABC wave complex now its getting complicated on the explanation with all the 123 abc talk but look at the chart on 52 and you will see.


Scneario 2 We complete this BIG A wave at the 50 fib point before going up as you know An A WAVE can go to between 38 and 50% fib. If this happens look for bounce at 8848 area. AS you konw the CABLE likes extremes on all fibs and over shoots them by great margin which is ok by rule as long as it closes within the rules for that fib. But 1st lane is correct When and if I decide to trade the cable it will be after CLEAR signal that the corrective wave has finished and we are on the way down. As I said in my previous statement B waves can overextend on stop where they should by rule That is why I wait. I told you GBP is like a BUCKING BULL I dont risk my money unless it is a Sure move. You can make so much more on other pairs for alot cheaper Like with NZD you can buy a whole lot for 1300.00 how much of the cable can you get for 1300.00? each pip would equal a little mor than 1.00 on the cable and on the NZD each pip is worth 10.00 I am back in now on the NZD waiting for the YEN and AUD to get back in yen is setting up and AUD is 7 pips away from my entry point
I got an email from a new team member that is new to forex asking for advice about forex and how to succeed . One good point of advice is if you are new to forex dont trade the cable yet unless you want to loose money and get beat up. The cable will more than likely continue to go down now since breaking very import support at 8921. Just wat for the big wave down. Even if this is a 12345 complex this is just wave 1 of 5 to form a BIG A wave of the previous BIG 5 wave starting from 10-13-06 ending last friday and the 1st wave of a mini C wave from the extended B wave on the chart from page 52.
Quoting 1st_lane
about the long position.. i may take lot of cautions cause wave 2 is corrective wave.. its hard to predict the end of the wave..
  • #973
  • Nov 15, 2006 4:17am Nov 15, 2006 4:17am
Quoting fixme1too
This is correct 1st lane that is why I would wait but we did not bounce last night and have broke 8921 showing that we can very well go to as low as the 8650's now. Scenario 1 we go to 8650's if this happens this mini C wave of the extended b on page 52 chart will go to 261.8 area of that mini b wave after fib is put on it. If this happens we will form a 12345 wave complex to get there insead of a ABC wave complex now its getting complicated on the explanation with all the 123 abc talk but look at the chart on 52 and you will see.


Scneario 2 We complete this BIG A wave at the 50 fib point before going up as you know An A WAVE can go to between 38 and 50% fib. If this happens look for bounce at 8848 area. AS you konw the CABLE likes extremes on all fibs and over shoots them by great margin which is ok by rule as long as it closes within the rules for that fib. But 1st lane is correct When and if I decide to trade the cable it will be after CLEAR signal that the corrective wave has finished and we are on the way down. As I said in my previous statement B waves can overextend on stop where they should by rule That is why I wait. I told you GBP is like a BUCKING BULL I dont risk my money unless it is a Sure move. You can make so much more on other pairs for alot cheaper Like with NZD you can buy a whole lot for 1300.00 how much of the cable can you get for 1300.00? each pip would equal a little mor than 1.00 on the cable and on the NZD each pip is worth 10.00 I am back in now on the NZD waiting for the YEN and AUD to get back in yen is setting up and AUD is 7 pips away from my entry point
I got an email from a new team member that is new to forex asking for advice about forex and how to succeed . One good point of advice is if you are new to forex dont trade the cable yet unless you want to loose money and get beat up. The cable will more than likely continue to go down now since breaking very import support at 8921. Just wat for the big wave down. Even if this is a 12345 complex this is just wave 1 of 5 to form a BIG A wave of the previous BIG 5 wave starting from 10-13-06 ending last friday and the 1st wave of a mini C wave from the extended B wave on the chart from page 52.
Hey Fix,

Correct me if I'm wrong but long at the following

AUD/USD @ 0.7629 TP @ 0.7735

NZD/USD @ 0.6600 TP @ 0.6714

Alex
  • #974
  • Edited 4:42am Nov 15, 2006 4:23am | Edited 4:42am
Hi Fixme
I have a point of confusion about this move on the GBPUSD - just the 4 hour chart. Can you clear it up for me.

A few posts ago you said
"Another reason I think we are going up is because we have completed 12345 a and finishing the b wave on the 4hour chart that is why we are going down right now the end of b wave on the 4 hour should be the 8932 level.

Did you mis-write this?

I ask because back on 11 Nov you said about the high at 1.9177 was point B the end of the B wave (shown on your 4 Hour GBPUSD H4 chart back on page 52 - sorry, don't know how to attach your chart here).
"On the daily we are at the top of a BIG 1 wave that will go down to BIG 2
on the 4hour we are at the top of a BIG B wave that will go down to complete BIG C disregard the mini waves in between"

I'm new to EW theory so stuff like this throws me off when I'm working with your analysis on my charts.

Which is it - Are we in the B wave waiting for the bottom B, or has the B completed at 1.9177 and we are in the C wave waiting for C to complete?


Thanks and good trading
Adam F
  • #975
  • Nov 15, 2006 4:38am Nov 15, 2006 4:38am
when we talk about EW w/o the pics of chart , how can we imagine ?
  • #976
  • Nov 15, 2006 10:01am Nov 15, 2006 10:01am
did you read the ew gudelines. you have different type of was=ves supercycle is one type Elliot called it go back and look at it that may help I think its in the mid 20's pages. we are at the bottom of aBIG A WAVE and the bottom of a mini c wave sould go up to complete a BIG B WAVE as you said i mentioned this 4 days ago at 9177 well 9165 is in the same ball park
i am at work now will post some charts this evening



Quoting AdamFx
Hi Fixme
I have a point of confusion about this move on the GBPUSD - just the 4 hour chart. Can you clear it up for me.

A few posts ago you said
"Another reason I think we are going up is because we have completed 12345 a and finishing the b wave on the 4hour chart that is why we are going down right now the end of b wave on the 4 hour should be the 8932 level.

Did you mis-write this?

I ask because back on 11 Nov you said about the high at 1.9177 was point B the end of the B wave (shown on your 4 Hour GBPUSD H4 chart back on page 52 - sorry, don't know how to attach your chart here).
"On the daily we are at the top of a BIG 1 wave that will go down to BIG 2
on the 4hour we are at the top of a BIG B wave that will go down to complete BIG C disregard the mini waves in between"

I'm new to EW theory so stuff like this throws me off when I'm working with your analysis on my charts.

Which is it - Are we in the B wave waiting for the bottom B, or has the B completed at 1.9177 and we are in the C wave waiting for C to complete?


Thanks and good trading
Adam F
  • #977
  • Nov 15, 2006 10:04am Nov 15, 2006 10:04am
adam are you reading post before you ask ?'s



Quoting fixme1too
tp on aud and nzd today for 60 pips on aud and nzd 40 pips will reenter as we go back down should hit 7629 on aud and 6600 on nzd

for reentry on long to eventually 6714 on nzd and 7735 area on the aud
  • #978
  • Nov 15, 2006 10:14am Nov 15, 2006 10:14am
wait and watch on the eur/jpy look for good entry maybe 151.30 and sl at 151.70 short term 150.00 i am only seeing quotes so i am going by price quotes right now look att your candle sticks and momentum and support and resistance on lower time charts
  • #979
  • Nov 15, 2006 10:16am Nov 15, 2006 10:16am
did we bounce of off 50% fib on daily for the cable. I see we are at 8871.
  • #980
  • Nov 15, 2006 10:16am Nov 15, 2006 10:16am
what gets me is how the euro has held its measly support at 2800 and the pound has dropped 300 pips... talk about lack of correlation, lol
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