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  • #1,121
  • Nov 19, 2006 7:24pm Nov 19, 2006 7:24pm
yes they are I see that on the post 7750's I meant down to the 7650's
  • #1,122
  • Nov 19, 2006 8:20pm Nov 19, 2006 8:20pm
Looks like the USACAN is on decline as predicted.
  • #1,123
  • Nov 19, 2006 10:28pm Nov 19, 2006 10:28pm
the usdjpy should be on its way now
everything looking really good thus far playing out as it is supposed too according to EW theory
  • #1,124
  • Nov 19, 2006 10:37pm Nov 19, 2006 10:37pm
Quoting fixme1too
the usdjpy should be on its way now
everything looking really good thus far playing out as it is supposed too according to EW theory
Hey "Fix",

Looks like the Eur/JPY is retesting the 151.40/50 area again. Whats your count regarding this pair and are we into a short provided it doesn't brake to the topside?

Alex
  • #1,125
  • Nov 19, 2006 10:46pm Nov 19, 2006 10:46pm
cdn should go back up to the 1463 area then bounce so this is excellent oppurtunity for short once we get here.

alex
that damn E/J is grossly oversold should have been fell. That is some strong resistance there at the 151.40's if it breaks up should not go higher than 151.60's but this one could end up with a very big extened B wave. Watch out for the curve ball on the CABLE tomorrow. I know we are not in the usdjpy but did you see the bounce off of 117.95 man you gotta luv it. lets see if we get to the 117.19 area once we do this is excellent area for buy should be by todays close just as the aud and nzd pair once aud and nzd hit it's ATR it just stops moving in its tracks literally. Thats why I like this pair it does what it supposed to then just stops and waits for the next move. Have a nice day tomorrow guys need to get some rest will be away mon tue and wed.
  • #1,126
  • Nov 19, 2006 11:49pm Nov 19, 2006 11:49pm
When you say this pair are you talking the can/usd?
  • #1,127
  • Edited 3:14am Nov 20, 2006 2:52am | Edited 3:14am
Quoting fixme1too
here is three examples with the last one showing the possible setup this week with the exact same setup that we are in now and the almost the exact same time year to date. I dont speculate and go off instict without having atleast something to validate my instict atleast 50% of the the time everything else is strictly my system that I use thanx to MR. Elliot. Speculation will cost you to loose money. Man, I had to loose money to know what I am talking about, as I said before I am not guessing here or telling you something because this is only what I believe, I am going of history of the CABLE and PRICE ACTION. Know your pair Like you know your woman, forwards, backwards, upside down, rightside up, if you like a pair KNOW IT>

Charles, Looking at your charts, once again you're against one of the basic EW rules: wave 4 cannot overlap wave 1.

This is a rule!!!!!!

You cannot adjust the rules to your needs.

Considering your work to help people and not to confuse them, it's important they know you're "changing" something in the game.

In any case i appreciate your efforts for this thread.
  • #1,128
  • Nov 20, 2006 4:01am Nov 20, 2006 4:01am
Who says I can t adjust the rules to fit my needs. LOL. just kidding. KNOW YOUR PAIRS........... Did not I say this time and time and time again Wave B is supposed to be between 61.8 and 78% right? How many times does it overextend with the CABLE may we should rename it to OVEREXTENDING CABLE Listen Animone when trading think outside the box. You are not making a cake where if you put this and that into you come out with a cake. OK!!!!!!!! Same with trading there is no and I repeat no system in trading that is IF THIS HAPPENS THEN TAKE THE TRADE. EX. If I were to wait for a B WAVE to HIT 78% then take the trade and it overextends the avg noob is gonna say oh S!@# this is wrong and jump off for a lost ok. Bottom line is KNOW YOUR PAIR and price action and most of all KNOW WHAT YOU ARE DOING. The 4 wave is not supposed to go into wave 1 but it does not say IT CAN NOT ok. Stop thinking things are written is stone in trading. The rule is NOT SUPPOSED TO but in the event the 4 wave overextends which is does often with the cable it increases the risk for a wave 5 FAILURE furthermore when you really start to use EW you will see this in alot of pairs but key but. Look for where the 4 wave closes many waves overextend but look at the close. You see B wave overextend all the time but still close within the guidelines. SO once again I hope this answers your question ok. Now let me get out of here so I can go to work lol

http://www.forexfactory.com/forexfor...ons/icon12.gif

Quoting animone
Charles, Looking at your charts, once again you're against one of the basic EW rules: wave 4 cannot overlap wave 1.

This is a rule!!!!!!

You cannot adjust the rules to your needs.

Considering your work to help people and not to confuse them, it's important they know you're "changing" something in the game.

In any case i appreciate your efforts for this thread.
  • #1,129
  • Nov 20, 2006 4:27am Nov 20, 2006 4:27am
I have spent 14 months making carefull observations of the Elliott Waves on all currency pairs and all time frames, plus some commodities and the DOW index. The rules are not rules. If they are, then someone forgot to tell the forex traders and other traders about the rules. They are just guidelines. They are frequently broken or stretched. Sometimes they are seriously mutilated. People who are sticklers for rules will become very frustrated by the stubborn refusal of the forex market as well as the commodities market and the stock market to strictly comply with the RULES which, after all, were written by a person who didn't possess the authority to dictate the behavior of the various markets of the world.
  • #1,130
  • Nov 20, 2006 4:32am Nov 20, 2006 4:32am
Quoting itme
I have spent 14 months making carefull observations of the Elliott Waves on all currency pairs and all time frames, plus some commodities and the DOW index. The rules are not rules. If they are, then someone forgot to tell the forex traders and other traders about the rules. They are just guidelines. They are frequently broken or stretched. Sometimes they are seriously mutilated. People who are sticklers for rules will become very frustrated by the stubborn refusal of the forex market as well as the commodities market and the stock market to strictly comply with the RULES which, after all, were written by a person who didn't possess the authority to dictate the behavior of the various markets of the world.
Hey there,

Well said, you have to expect the unexpected with financial markets. Even on major trends there will be deviations and wild unaccounted for fundamental reactions.

Don't forget your stops!!!!

Alex
  • #1,131
  • Nov 20, 2006 4:36am Nov 20, 2006 4:36am
Quoting fixme1too
Who says I can t adjust the rules to fit my needs. LOL. just kidding. KNOW YOUR PAIRS........... Did not I say this time and time and time again Wave B is supposed to be between 61.8 and 78% right? How many times does it overextend with the CABLE may we should rename it to OVEREXTENDING CABLE Listen Animone when trading think outside the box. You are not making a cake where if you put this and that into you come out with a cake. OK!!!!!!!! Same with trading there is no and I repeat no system in trading that is IF THIS HAPPENS THEN TAKE THE TRADE. EX. If I were to wait for a B WAVE to HIT 78% then take the trade and it overextends the avg noob is gonna say oh S!@# this is wrong and jump off for a lost ok. Bottom line is KNOW YOUR PAIR and price action and most of all KNOW WHAT YOU ARE DOING. The 4 wave is not supposed to go into wave 1 but it does not say IT CAN NOT ok. Stop thinking things are written is stone in trading. The rule is NOT SUPPOSED TO but in the event the 4 wave overextends which is does often with the cable it increases the risk for a wave 5 FAILURE furthermore when you really start to use EW you will see this in alot of pairs but key but. Look for where the 4 wave closes many waves overextend but look at the close. You see B wave overextend all the time but still close within the guidelines. SO once again I hope this answers your question ok. Now let me get out of here so I can go to work lol

http://www.forexfactory.com/forexfor...ons/icon12.gif
Charles, please tell me what Elliott says about wave 4.

What's the rule?

Does he says wave 4 can overlap wave 1?

Why you talk about wave B?

Anyone a little bit in "feeling" with Ew theory knows that there are irrregualr B. So if you anticipate your entry it's a your own risk, knowing that it can extend. And for the high percentage of risk of a B wave, usually you should have not to trade it.

We can have irregular B but NO WAVE 4 OVERLAPPING WAVE 1!!!!

If you change the rules to your needs, you have to talk about FIXME1TOO theory not EW.

Once again i repeat: you're making a good job, but i think there are a lot of newbies here and it's important they know the rules of the game, especially when talking about EW theory. Remember its a theory and not something proven.

One last question: indicate me a book, a document or similar where i can read about wave 4 overlapping wave 1 and i'll completely change my view on Ew.
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  • #1,132
  • Nov 20, 2006 6:59am Nov 20, 2006 6:59am
I really dont know what to tell you Animone. You are pretty much answering your own question. The count is correct on the examples I posted but in this case it did not follow Mr Elliotts's Theory to a TEE and it really never does with the cable as it extends on everything. You need to follow a pair like aud or nzd where it follow the theory better. As you said its just a theory. Not proven fact right. As Itme said you can use it as guideline for direction that is pretty much a proven fact. Look back in the mid 20's of the post some guidelines are there. I will see if I have anymore when I get home. If this does not help maybe you can join the webinar on Sunday. Just pm yano125 with your email. I hope that helps, you really must know your pair though and its behavior. I dont know what else to tell you. I think you are looking for a system like investools or something, where it says, "If you see this then do that" trading is not like that as I am sure you know, you have so many factors that can change things in the blink of an eye. If you anymore questions pls dont hesitate to askhttp://www.forexfactory.com/forexfor...ons/icon12.gif



Quoting animone
Charles, please tell me what Elliott says about wave 4.

What's the rule?

Does he says wave 4 can overlap wave 1?

Why you talk about wave B?

Anyone a little bit in "feeling" with Ew theory knows that there are irrregualr B. So if you anticipate your entry it's a your own risk, knowing that it can extend. And for the high percentage of risk of a B wave, usually you should have not to trade it.

We can have irregular B but NO WAVE 4 OVERLAPPING WAVE 1!!!!

If you change the rules to your needs, you have to talk about FIXME1TOO theory not EW.

Once again i repeat: you're making a good job, but i think there are a lot of newbies here and it's important they know the rules of the game, especially when talking about EW theory. Remember its a theory and not something proven.

One last question: indicate me a book, a document or similar where i can read about wave 4 overlapping wave 1 and i'll completely change my view on Ew.
  • #1,133
  • Nov 20, 2006 7:11am Nov 20, 2006 7:11am
Just thought I share this infor:


India is said to be buying the USD currency as at last week for its reserves.
  • #1,134
  • Nov 20, 2006 9:02am Nov 20, 2006 9:02am
Quoting fixme1too
I really dont know what to tell you Animone. You are pretty much answering your own question. The count is correct on the examples I posted but in this case it did not follow Mr Elliotts's Theory to a TEE and it really never does with the cable as it extends on everything. You need to follow a pair like aud or nzd where it follow the theory better. As you said its just a theory. Not proven fact right. As Itme said you can use it as guideline for direction that is pretty much a proven fact. Look back in the mid 20's of the post some guidelines are there. I will see if I have anymore when I get home. If this does not help maybe you can join the webinar on Sunday. Just pm yano125 with your email. I hope that helps, you really must know your pair though and its behavior. I dont know what else to tell you. I think you are looking for a system like investools or something, where it says, "If you see this then do that" trading is not like that as I am sure you know, you have so many factors that can change things in the blink of an eye. If you anymore questions pls dont hesitate to askhttp://www.forexfactory.com/forexfor...ons/icon12.gif
Ok Charles.

After all what's important is to make money.

So if your system works it means is a good system.

I prefer to strictly follow the rules, and it works for me.

  • #1,135
  • Nov 20, 2006 9:52am Nov 20, 2006 9:52am
From Dynamic Trading by Robert Miner:


There are just three rules that are considered inviolate according to today's traditional, Elliott wave analysts. However, Elliott never listed these as inviolate rules. When describing these situations in his earlier works, Elliott used terms "should" and "rarely", not "never". In order to avoid the criticism that Elliott's pattern analysis was not completely objective , I suspect these rules were developed as inviolate long after Elliott had completed his own life-cycle fifth wave.

"I will describe these rules here, as they are a good guide to keep the analysis objective as to the position of the market relative to Elliott Wave analysis. Later in this section, I will illustrate how markets apparently have not read Elliott's works and seem to ignore the rules with some regularity.

Elliott Wave "Rules"

1. Wave 2 cannot retrace past the beginning of wave 1.

2. Wave 3 cannot be the shortest of the three impulse waves (1,3 and 5) in the five wave sequence.

3. Wave 4 cannot overlap or trade into the territory of wave 1.

+ + +

What is stressed over and over in ths book, is to trade what EW is telling you and then when a wave count is broken get out and wait for a new count to settle in. Also a proper count probably shows only about 50% of the time. Don't try to fit EW to every market all the time with many alternate counts and X waves or DK waves (for don't know).

The object is to trade and not be an EW expert knowing every little zig and zag and following every rules exactly.
  • #1,136
  • Nov 20, 2006 9:56am Nov 20, 2006 9:56am
Sun good point...
  • #1,137
  • Nov 20, 2006 10:01am Nov 20, 2006 10:01am
Quoting animone
Charles, please tell me what Elliott says about wave 4.

What's the rule?

Does he says wave 4 can overlap wave 1?

Why you talk about wave B?

Anyone a little bit in "feeling" with Ew theory knows that there are irrregualr B. So if you anticipate your entry it's a your own risk, knowing that it can extend. And for the high percentage of risk of a B wave, usually you should have not to trade it.

We can have irregular B but NO WAVE 4 OVERLAPPING WAVE 1!!!!

If you change the rules to your needs, you have to talk about FIXME1TOO theory not EW.

Once again i repeat: you're making a good job, but i think there are a lot of newbies here and it's important they know the rules of the game, especially when talking about EW theory. Remember its a theory and not something proven.

One last question: indicate me a book, a document or similar where i can read about wave 4 overlapping wave 1 and i'll completely change my view on Ew.
animone, you are 100% correct. There are rules and there are guidelines. Rules can NEVER BE BROKEN, OR THE COUNT IS WRONG. Guidelines are a different story. I don't believe that the "experts" here have even read a basic EW book, much less advanced, based on what they post. Very little knowledge of EW is shown. They may or may not have a good system, but it is definitely not EW.
  • #1,138
  • Nov 20, 2006 10:39am Nov 20, 2006 10:39am
Guys, could you please stop all that. If you are not here to learn but to prove someone's wrong then that's not the place IMHO. We all know fixme1too is doing hell of work trying to educate us in a system that has been working for him.

I'm sure that you all going to agree the thread is going back and forward and that is not helping anyone. No offence but if you want to help to your fellow members that's not the way.

Happy trading
  • #1,139
  • Nov 20, 2006 10:57am Nov 20, 2006 10:57am
<TABLE cellSpacing=3 cellPadding=3 width="90%" border=1><TBODY><TR><TD vAlign=top width="7%">W.4







</TD><TD vAlign=top width="33%"><!-- MIDDLE ONE-->If W.2 was an ABC then W.4 will probably be complex and vica versa. This is the priciple of alternation.




Look for minimum of three fractals in lower time frame and minimum price relationship of 62% to W.2

W.4 should not penetrate W.1. A W.4 close into W.1 invalidates the W.5 setup. This is a Rule.





</TD><TD vAlign=top width="33%"><!-- MIDDLE TWO-->Price extreme often occurs before the termination of the W.4 pattern. In complex waves Time factors should be the primary consideration.




If Wave 4 has exceed >50% of Wave 3, the possibility of a 5<SUP>th</SUP> wave failure is increased.

The Oscillator will cross the zero line two times during W.4. First against the direction of W.3 and then in the direction of W.3 to signal that W.4 has fulfilled minimum requirements for completion.



</TD><TD vAlign=top width="27%"><!--RIGHT -->PRICE



< 50% of W.3
W.4 38% W.3 common
W.4:W.3 < W.2:W1 on percentage basis
W.4 62% 100% 162% W.2
W.4 > 23.6% < 50% W.0 - W.3

TIME
W.4 most often related to W.3 or W.0 - W.3
Often longer in time than W.3 / W.0 - W.3
W.4 138% - 162% of Parallel Projection of ends of W.1 - W.3 measured from beginning of W.2
</TD></TR></TBODY></TABLE>Key word close into wave 1 . This does not have to be difficult. The plan here was to make money not argue about a 4 wave You will see this often on the cable. This is where Knowing your pair and price action helps alot guys.
  • #1,140
  • Nov 20, 2006 11:39am Nov 20, 2006 11:39am
Perfect example guys of rules is sidus and moultike sorry for the spelling and vegas, bunny girl or what ever it is and any other system none are 100% in trading. If you know your pair you will know how to make those systems work for you. Fortunately I have been able to use EW theory to benifit me as well as using rsi and candle sticks. EW for direction and possible end point , rsi for oversold overbought and candle sticks to determine verification of the move. What does all of these three have in common they all are base on price action. That is the best way in my opinion to make money in FX. Its unfortunate when you try to do something helpful, for what ever reason you have others come in and disrupt everything. I call these kind of people "HATERS" lol dont know why it has to be this way. Is it envy, or what exactly is it? I really dont know. When I first started trading I lost big, man really big in my opinion. Maybe it was because I lost it so quickly since then, I have gotten better and said if I ever got to the point where I was making money on a consistent basis I would share my method so others may learn in the process as well and this is what happens. Envy to prove one wrong, animone

if following rules for you make you pips then do your thing and keep making the pip if the system works for you. I came back to the thread because I got so many PM's about leaving so I said to myself yeah, if i left I would not be acheiving what I was trying to achieve and I am not trying to charge a fee or nothing this is all FREE. You have so many groups that charge big money per month for what I am doing Not only with the signalss but the teaching as well. Last night we had a good conference on some web site one of the team members set up. It was set up where one could see how I measure my waves. I really think now it would be best to let some of the others continue the thread . For those of you who would like to be part of the web conference where you actually can see my desk top and how I measure my waves in real time you can email me at [email protected] with you email and we will send out the invite. This way maybe we wont have all the confusion. I can handle other peoples suggestion and opinions I dont profess to know it all, I am learning everyday. When I am not working I am litterally reviewing charts all day from 4 am to the night as well as the whole weekend. One really good trader told me THE MORE YOU LEARN THE MORE YOU EARN this is the truth. If you read those guidelines on page 27 i believe it is I know that whole thing by heart like some know bible scriptures. It is ingrained in my brain litterally. By the way that is not something I wrote I got that off of a web site just as I did the ELLIOTT article that follows. So those who are really serious about what I am trying to achieve you know how to reach me. For all the others "MAY ALL YOUR TRADES BE FILLED" as TRO would say. If you have been trading for a while you may know who TRO is but as for now I am signing off. Happy trading and remember

" IF IT DONT MAKE DOLLARS IT DON T MAKE SENSE"
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