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Harmonic Wave Journal

  • #481
  • Jun 11, 2007 11:38am Jun 11, 2007 11:38am
Thanks aha for the chart, yeah that's what my count looks like, with a possible end of wave 5 at 2.0131.

Well today is another boring day, with cable and EUR/USD 'slightly' going up currently.
Tra-X
  • #482
  • Jun 11, 2007 2:09pm Jun 11, 2007 2:09pm
Quoting Traex
Thanks aha for the chart, yeah that's what my count looks like, with a possible end of wave 5 at 2.0131.

Well today is another boring day, with cable and EUR/USD 'slightly' going up currently.
I think "another boring Monday" is the term.....the ranges in May for cable were 50, 65, 75 and 30 - but last week (June 4) it was 100. It seems that the average is now around 90 pips / day accross the week, so lets hope that we get at least that!

So far today its 48!

http://www.forexfactory.com/images/icons/icon9.gif
Trading Levels with WRBs
  • #483
  • Jun 11, 2007 11:23pm Jun 11, 2007 11:23pm
Opportunity #G23/07
GBP/USD Short
3 parts
Entry: 1.9730
Stop (initial): 1.9780

End of wave 4 up (?).
Tra-X
  • #484
  • Jun 11, 2007 11:26pm Jun 11, 2007 11:26pm
Another great week Traex!!!!!! Good job.

As far as cable, I think this is completing wave A of 2 at 1.9730 area.
I thought I would share my count on EUR/GBP. I feel that it is in wave 2 of C right now with one more push up to finish the smaller c of c. This would correlate with my theroy on Cable for a drop in wave B.

What do you think guys/gals?

AZ
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I found the guy who keeps losing me money. Its "ME" SHOOT HIM!
  • #485
  • Jun 11, 2007 11:41pm Jun 11, 2007 11:41pm
Of course I see your post after I finish mine. I see that you are looking for a wave 5. I did not like the look of the wave pattern, it does look complete at least to me. On my EUR/GBP chart, I have Eur stronger then GBP in wave c of c and for some distance. I was concerned by how much but figured the $ would balance that out. Now with your count it would fit in better.
May be I will get an expanded flat on my B wave

Anyway, I like following you and thanks for letting me join in!!!!!!

AZ
I found the guy who keeps losing me money. Its "ME" SHOOT HIM!
  • #486
  • Edited 11:58pm Jun 11, 2007 11:44pm | Edited 11:58pm
I'm very close to pull my triger too.... waiting for the 5 wave pattern of wave C at 5 min to complete, now it's probably at 5.4...

I posted a chart a few minutes ago show the 5 wave pattern of wave C, and the wave 5 seems to have developed into a 5 wave pattern after that.

http://forexfactory.com/showpost.php...postcount=1590

Quoting Traex
Opportunity #G23/07
GBP/USD Short
3 parts
Entry: 1.9730
Stop (initial): 1.9780

End of wave 4 up (?).
Target: Trading naked.
  • #487
  • Jun 11, 2007 11:57pm Jun 11, 2007 11:57pm
Thanks for the daily range infos there, Islander.

Hi AZ-Heat and aha,

Well as far as I see cable is still moving quite uncertainly. Slow motion move like this is normally 'creepy'. Any of the waves you both mentioned are possible.
No comments on the EUR/GBP tho.
Tra-X
  • #488
  • Jun 12, 2007 1:05am Jun 12, 2007 1:05am
Quoting Traex
Opportunity #G23/07
GBP/USD Short
3 parts
Entry: 1.9730
Stop (initial): 1.9780

End of wave 4 up (?).
Any doubts on this one, you later describe price action as creepy? If UK cpi goes the right way and some important daily trend lines fail (they held the recent dramatic fall off) many seem to be targeting 1.9500. Is this still how you see things?
  • #489
  • Jun 12, 2007 1:51am Jun 12, 2007 1:51am
Quoting Traex
Opportunity #G23/07
GBP/USD Short
3 parts
Entry: 1.9730
Stop (initial): 1.9780

End of wave 4 up (?).

Hey Traex... Glad to see you doing so well with your thread... Just had a quick question. Can you see cable moving to high 9800's at all?
  • #490
  • Jun 12, 2007 3:37am Jun 12, 2007 3:37am
Opportunity #G23/07
GBP/USD Short
3 parts
Entry: 1.9730
Stop (initial): 1.9780

End of wave 4 up (?).

Update 1: Took 1st profit at 1.9700 (+30). S/L tightened to 1.9748 (guarantees -18).
Tra-X
  • #491
  • Jun 12, 2007 3:42am Jun 12, 2007 3:42am
Quoting Vantage
Any doubts on this one, you later describe price action as creepy? If UK cpi goes the right way and some important daily trend lines fail (they held the recent dramatic fall off) many seem to be targeting 1.9500. Is this still how you see things?
Hi Vantage, I normally treat any news (except vital ones like NFPs or interest rates) as sparks and volume providers to a technical move only. I figured if I cared for all news too much I wouldn't have any trade decision coming out at all, and be thrown in for a self-confusion. Well, just my 2 pips view. It's started moving now, time for a fight.
Tra-X
  • #492
  • Jun 12, 2007 3:47am Jun 12, 2007 3:47am
Quoting fixme1too
Hey Traex... Glad to see you doing so well with your thread... Just had a quick question. Can you see cable moving to high 9800's at all?
Hey fixme1too, welcome and glad to see you here again.

Yep, I can see it going to 9800 again, but not before it retraces first to maybe 1.9670-80 imo. It's possible that it'll go straight away down to below 9600 tho. After A it's B and then C etc, it's just the way the waves move. You taught me that well last time, thanks alot for that. Miss your old webinars.
Tra-X
  • #493
  • Jun 12, 2007 8:31am Jun 12, 2007 8:31am
Opportunity #G23/07
GBP/USD Short
3 parts
Entry: 1.9730
Stop (initial): 1.9780

End of wave 4 up (?).

Update 1: Took 1st profit at 1.9700 (+30). S/L tightened to 1.9748 (guarantees -18).
Update 2: Out at 1.9748 (-18 x2). What another messy wave again.

Total gain: -6
Tra-X
  • #494
  • Edited 10:49pm Jun 12, 2007 11:42am | Edited 10:49pm
Opportunity #E18/07
EUR/USD Long
3 parts
Entry: 1.3305
Stop (initial): 1.3265

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open.
Tra-X
  • #495
  • Jun 13, 2007 12:21am Jun 13, 2007 12:21am
Opportunity #E18/07
EUR/USD Long
3 parts
Entry: 1.3305
Stop (initial): 1.3265

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open. S/L tightened to 1.3287 (guarantees -18).
Tra-X
  • #496
  • Jun 13, 2007 12:27am Jun 13, 2007 12:27am
Once again cable moved during late NY and early asian, while I was away!
I think I need to shift my sleep time temporarily. Well, just dreaming.
Tra-X
  • #497
  • Jun 13, 2007 2:48am Jun 13, 2007 2:48am
Opportunity #E18/07 (re-entry)
EUR/USD Long
3 parts
Entry: 1.3275
Stop (initial): 1.3235

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open. S/L tightened to 1.3287 (guarantees -18).
Update 2: Stopped out for -36. Re-entry at 1.3275, initial stop at 1.3235.
Tra-X
  • #498
  • Jun 13, 2007 4:17am Jun 13, 2007 4:17am
Opportunity #G24/07
GBP/USD Long
3 parts
Entry: 1.9684
Stop (initial): 1.9634

Subwave C of wave 2 up (?).
Tra-X
  • #499
  • Edited 1:58pm Jun 13, 2007 7:25am | Edited 1:58pm
Opportunity #E18/07 (re-entry)
EUR/USD Long
3 parts
Entry: 1.3275
Stop (initial): 1.3235

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open. S/L tightened to 1.3287 (guarantees -18).
Update 2: Stopped out for -36. Re-entry at 1.3275, initial stop at 1.3235.
Update 3: S/L tightened to 1.3266 (guarantees -9). Took 1st profit at 1.3303 (+28).
Update 4: Set TP2 at 1.3345 for +70.
Tra-X
  • #500
  • Edited 12:51pm Jun 13, 2007 9:25am | Edited 12:51pm
Opportunity #G24/07
GBP/USD Long
3 parts
Entry: 1.9684
Stop (initial): 1.9634

Subwave C of wave 2 up (?).

Update 1: Took 1st profit at 1.9720 (+36). S/L tightened to 1.9686 (guarantees +2).
Update 2: Set TP2 at 1.9770 for +86.
Tra-X
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