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Harmonic Wave Journal

  • #581
  • Jun 22, 2007 8:39pm Jun 22, 2007 8:39pm
Opportunity #EG1/07
EUR/GBP Long
3 parts
Entry: 0.6714
Stop (initial): 0.6689

End of subwave C of wave 2 down (?).

Update 1: Set TP1 at 0.6738 for +24. S/L will move to 0.6711 once TP1 is hit.
Update 2: TP1 was hit (+24). S/L tightened to 0.6711. Just realized 1 pip is huge for this pair.
Tra-X
  • #582
  • Jun 22, 2007 8:49pm Jun 22, 2007 8:49pm
Weekly review and recap:

Total trades closed = 3, winners = 2, losers = 1
Total gain in winners = 63, total loss in losers = 40
Net gain this week = +23

Open short term trades:
GBP/JPY Short from 247.22 and 247.82 with S/L currently at 248.62.
EUR/GBP Long from 0.6714 with S/L currently at 0.6711.

Medium-long term trades:
EUR/USD Short from 1.3595 currently at around +125, GBP/USD Short from 2.0100 currently at around +105

Not a good week for wave trades. Wrong wave count in Cable, it went back up pass 1.9965 prolly in a new impulse or correction upwards. EUR/USD is still on track for its final wave 5 upwards. USD/JPY is still in wave 5, and GBP/JPY is finishing its wave 3 up.
Charts will be updated later.

Enjoy your weekend everyone.
Tra-X
  • #583
  • Jun 24, 2007 7:11am Jun 24, 2007 7:11am
A long impulse wave for cable. Possible max target for subwave (orange) 5 and wave (red) C or 3 is around 2.0070-80 area. Retracement back to at least 1.9900s might follow after.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 30m small.gif Size: 15 KB
Tra-X
  • #584
  • Jun 24, 2007 7:15am Jun 24, 2007 7:15am
EUR/USD is still on track for a final wave (red) 5 up with subwave (orange) 1 up nearly finished, prolly at the fibos congestion near 1.3500. A quite deep retracement might follow after for subwave 2.
Attached Image (click to enlarge)
Click to Enlarge Name: eu h1 small.gif Size: 18 KB
Tra-X
  • #585
  • Jun 24, 2007 7:18am Jun 24, 2007 7:18am
USD/JPY might already have finished or nearly finished its wave (red) 5 up in its big wave 3. Moderate retracement for big wave 4 might follow.
Attached Image (click to enlarge)
Click to Enlarge Name: uj h1 small.gif Size: 13 KB
Tra-X
  • #586
  • Edited 7:36am Jun 24, 2007 7:22am | Edited 7:36am
In correlation with USD/JPY, it has already or nearly finished its rally since 237.65 as subwave (orange) 3 and a retracement is coming as subwave 4.

Good luck to everyone next week.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 1h part 1.gif Size: 15 KB
Tra-X
  • #587
  • Jun 24, 2007 9:38am Jun 24, 2007 9:38am
Quoting Traex
USD/JPY might already have finished or nearly finished its wave (red) 5 up in its big wave 3. Moderate retracement for big wave 4 might follow.
true. although i got a price projection at 124.57 to be hit.

well we´ll see what happens.
  • #588
  • Jun 24, 2007 10:12am Jun 24, 2007 10:12am
Quoting Wallboroff
true. although i got a price projection at 124.57 to be hit.

well we´ll see what happens.
Hey wallboroff, yea a final mini wave up might do as well to conclude the big wave.
Tra-X
  • #589
  • Jun 25, 2007 5:11am Jun 25, 2007 5:11am
Opportunity #GJ2/07
GBP/JPY Short
2 parts
1st entry: 247.22
2nd entry: 247.82 (limit)
Stop (initial): 248.62

Relatively small lot size.

Update 1: 2nd entry limit was hit. 2 parts are open.
Update 2: Set TP1 at 246.72 for +50 to 1st entry. S/L will move to 248.00 once TP1 is hit.
Update 3: TP1 was hit (+50). S/L tightened to 247.82 (guarantees breakeven).
Tra-X
  • #590
  • Jun 25, 2007 10:12am Jun 25, 2007 10:12am
Quoting SeekingLight
Here we are

Just am happy to see I wasn't talking total gibberish then

Would be soooooo funny if we did continue to drop from the 1.9990 area

I bet I could open a "fxprophet" website from two posts alone, charge 399$ subs, never make another correct prediction and get rich within 2 months! ;D

Anything in forex baby! ;p

But really, been another chopchopchop Monday..and who is to blame? The Yanks again...we were fine until London went to lunch!

Seems the USD is kicking back...


I think EURUSD may have completed a mini-5-wave count for wave 1 up like Traex outlined (end at 1.3470).
Trust price. Know yourself.
  • #591
  • Jun 25, 2007 10:44am Jun 25, 2007 10:44am
Quoting SeekingLight
Would be soooooo funny if we did continue to drop from the 1.9990 area
Hi SeekingLight, a nice bounce there, so far.

Boring day for EUR/USD and Cable, but not for GBP/JPY tho. If this monster passes above 248 it'll be targetting 250 or above next, watch out.
Tra-X
  • #592
  • Jun 26, 2007 1:35am Jun 26, 2007 1:35am
Opportunity #GJ2/07
GBP/JPY Short
2 parts
1st entry: 247.22
2nd entry: 247.82 (limit)
Stop (initial): 248.62

Relatively small lot size.

Update 1: 2nd entry limit was hit. 2 parts are open.
Update 2: Set TP1 at 246.72 for +50 to 1st entry. S/L will move to 248.00 once TP1 is hit.
Update 3: TP1 was hit (+50). S/L tightened to 247.82 (guarantees breakeven).
Update 4: Took last profit at 246.24 (+158). Trade is closed.

Total gain: +208
Tra-X
  • #593
  • Edited 2:04am Jun 26, 2007 1:54am | Edited 2:04am
Quoting Traex
Hi SeekingLight, a nice bounce there, so far.

Boring day for EUR/USD and Cable, but not for GBP/JPY tho. If this monster passes above 248 it'll be targetting 250 or above next, watch out.
I'm pushing cable as hard as I can!

Also wondering whether GJ might lose 246 and then 245.

Oh, and I took a gander at counting GBPUSD, too!

Not that I know what the big wavecount is....

My count would put us in a small wave 4 down or a new correction move after a complex linkup via an X impulse...if that's how it works, I'm not even sure, I just saw some other creative EW people use that stuff before
Attached Image
Trust price. Know yourself.
  • #594
  • Jun 26, 2007 3:20am Jun 26, 2007 3:20am
Hi, everyone. I tried to count this big wave carefuly and I hope that this is end of my red 3 wave red 4 is in progress......We will see...
Attached Image (click to enlarge)
Click to Enlarge Name: screen0 kopie.jpg Size: 59 KB
  • #595
  • Jun 26, 2007 4:21am Jun 26, 2007 4:21am
Quoting SeekingLight
My count would put us in a small wave 4 down or a new correction move after a complex linkup via an X impulse...if that's how it works, I'm not even sure, I just saw some other creative EW people use that stuff before
Cable short term count is so messy now! It tends to make a-b-c so far, hasn't yet even retraced 50 pips from high.
Tra-X
  • #596
  • Jun 26, 2007 7:53am Jun 26, 2007 7:53am
Yeah, signal blows up... Recount needed...! Or waiting will be the best strategy, now..
  • #597
  • Jun 27, 2007 1:42am Jun 27, 2007 1:42am
Opportunity #J3/07
USD/JPY Long
3 parts
Entry: 122.43
Stop (initial): 122.03

End of wave A down of big wave 4 (?).
Tra-X
  • #598
  • Jun 27, 2007 2:30am Jun 27, 2007 2:30am
Quoting Traex
Cable short term count is so messy now! It tends to make a-b-c so far, hasn't yet even retraced 50 pips from high.


Well, either way, here's my promised drop from 1.9990.

Now, who's got those $399 ready? ;D



Trust price. Know yourself.
  • #599
  • Edited 8:06am Jun 27, 2007 7:39am | Edited 8:06am
Opportunity #J3/07 (re-entry)
USD/JPY Long
3 parts
Entry: 122.25
Stop (initial): 121.85

End of wave A down of big wave 4 (?).

Update 1: Out at 122.37 (-6 x3). Will re-entry if possible.
Update 2: Re-entry at 122.25, initial stop at 121.85.
Tra-X
  • #600
  • Jun 27, 2007 8:11am Jun 27, 2007 8:11am
Quoting SeekingLight
Well, either way, here's my promised drop from 1.9990.

Now, who's got those $399 ready? ;D



If you can give me 1000 pips from 9990 I'll send that.
Tra-X
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