Admit it, that was a Trendline, not Elliot!
Heya Traex
Great job on April!
Keep going, I really admire your time and effort put into this and am amazed that it seems to pay off for you right from the get go =)
Your stoploss adjustments seem highly aggressive - has the tradeoff of staying in longer but risking more vs preserving capital but getting kicked out too soon shown favorable to either side so far? You seem to trail each 4h bar (took the cue from Mike there? Hehe..)
Take care and keep it up,
SeekingLight
Well I think I'm too technical here, but I'm really very technical person especially in visuals.
All the best to your trades too.
PS What's that 4h Mike's system there? I never see/read it before.
With Mike I meant mbqb11, he once mentioned that he trails 4h bars on small timeframe setups or at least used to, I believe, and it seemed like you were doing a similiar thing
The wave origins of course works okay, too, I guess, although very often I have found the real market takes +- 20 pips as still staying above the origin
It's not as picky or precise as one would like it to be hehe.
I'm actually in the same EURUSD / GBPUSD trade due to price action, but from a bit higher up, so here's hoping we've ended Wave 4 on cable with a nice simple ABC, which ended at 1.9865 and are now headed up up and away in a Wave 5...or something impulsive.
I don't mind, as long as it gets to 2.1+ hehehehe
Take care,
SeekingLight
I don't mind, as long as it gets to 2.1+ hehehehe
Take care,
SeekingLight
It's an A-B-C I guess. Next target is prolly 9700s then it'll fly high in the sky. Hi SeekingLight,
Yep, I used that support trendline for the bounce lol. But only after I got stopped out twice tho. Another one, look at the cable pattern from Feb 13 to end of Feb 2007. Compare it with this time.
But I doubt we'll see 2.1 this year, I have a final target at around 2.07, prolly will be reached this month. We'll see.
If you find more occurences of price patterns that have happened in the past, let me know...there is this one I have been looking into, trying to figure out what it is, seems like a corrective wave, after which things move out, but I've yet to find a good entry rule for it or a way to tell its end...I can post 1-2 charts if you would like?
BTW, I still believe in my long term EURUSD monthly chart, remember that one?
Let me dig it up..remember this one from when I first posted it to Itme's EW basics thread?
I know, what a line is (s/r, trend, channel, fib levels - any sort of lines and stacks thereof): there is only one line that can pass through two points. And if one line connects three and more points - this line is even more "linear".
What is a definition of diamond? Edwards & Magee define it as "a more or less Complex Head-and-Shoulders with a V-shaped neckline". Bulkowski has a very precise definition: "How is a diamond bottom like asking a girl out on a date? When dealing with either, it is all in the approach". Igrok says that it is "two triangles merged together". A usual meaning of a "triangle" is three lines connecting three points. What people in TA call a triangle is a very free interpretation of this. The third point of the imaginary cable triangle should be somewhere in January, 2000. Is it relevant to the present situation?
Check out this one I am testing out. I already use price trender at the bottom. The one on the chart is golden_section v2.2. The name tells nothing of the indicator and its all in another language. Pretty cool looking. It draws a pitch fork with fibo arcs and seems to zero in on a target. Just gonna sit back and wach it for a few months as I trade.
Dave
