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Harmonic Wave Journal

  • #941
  • Edited 6:34am Sep 14, 2007 3:26am | Edited 6:34am
Quoting Traex
Hey thanks, Vantage. All the best to your trades too.



Thanks, SeekingLight. It hit a trendline in my chart.. but unfortunately there are few other trendlines nearby so I don't know. Thanks for your sup lvl at 0130.
Its just broken the 2.0139 support from Sep 6, hit 2.0128, if it doesn't turn up from here next supp I see at 2.0080 area. I think its headed there.
  • #942
  • Sep 14, 2007 3:45am Sep 14, 2007 3:45am
Opportunity #G41/07 (re-entry)
GBP/USD Long
3 parts
Entry: 2.0133
Stop (initial): 2.0083

End of mini wave 5 of C or 1 (?).

Update 1: S/L tightened to 2.0152 (guarantees -6). There's possibility that it'll go down again.
Update 2: Stopped out for -18. Re-entry at 2.0133, initial stop at 2.0083.
Tra-X
  • #943
  • Sep 14, 2007 4:01am Sep 14, 2007 4:01am
This one counts soooooooooo much nicer

Looking for a long setup near the blue marked area....your thoughts on this one would be appreciated =)



Edit: there's also a small chance at a very early end of that III.2 at 1.3830 imho.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_130907_count.gif Size: 18 KB
Trust price. Know yourself.
  • #944
  • Sep 14, 2007 4:11am Sep 14, 2007 4:11am
Quoting SeekingLight
This one counts soooooooooo much nicer

Looking for a long setup near the blue marked area....your thoughts on this one would be appreciated =)
Whoa man, cable count atm makes me headache.
I'm seeing this one dive as subwave A or C of wave 2 or even subwave 1 of new impulse downwards. Prefer the first one tho. EUR/USD is famous in its almost-no-retracement waves, so it's possible for it to go up from this level. But around level 1.3800 would be good for a long imho.
Tra-X
  • #945
  • Sep 14, 2007 4:14am Sep 14, 2007 4:14am
Quoting Traex
Whoa man, cable count atm makes me headache.
I'm seeing this one dive as subwave A or C of wave 2 or even subwave 1 of new impulse downwards. Prefer the first one tho. EUR/USD is famous in its almost-no-retracement waves, so it's possible for it to go up from this level. But around level 1.3800 would be good for a long imho.


Hm, yea. I'm also not decided yet on whether EURUSD is in a 4 or a 2

Both would work as 1.3915 was a projected Wave 3 end, I just totally suck at wave hierarchy / proportions....

Oh well. At least we can all agree it should go up at some point...UNLIKE CABLE ;p

Stupid soddin' pair...
Trust price. Know yourself.
  • #946
  • Sep 14, 2007 5:43am Sep 14, 2007 5:43am
Opportunity #G41/07 (re-entry)
GBP/USD Long
3 parts
Entry: 2.0133
Stop (initial): 2.0083

End of mini wave 5 of C or 1 (?).

Update 1: S/L tightened to 2.0152 (guarantees -6). There's possibility that it'll go down again.
Update 2: Stopped out for -18. Re-entry at 2.0133, initial stop at 2.0083.
Update 3: What a rollercoaster ride! S/L tightened to 2.0108 (guarantees -25).
Tra-X
  • #947
  • Edited 6:53am Sep 14, 2007 6:51am | Edited 6:53am

I was thinking might it be end of wave 4. 4H chart. simple waves, if so, good entry.
Still waters run deep
  • #948
  • Sep 14, 2007 8:32am Sep 14, 2007 8:32am
Opportunity #G41/07 (re-entry/2nd attempt)
GBP/USD Long
3 parts
Entry: 2.0075
Stop (initial): 2.0025

End of mini wave 5 of C or 1 (?).

Update 1: S/L tightened to 2.0152 (guarantees -6). There's possibility that it'll go down again.
Update 2: Stopped out for -18. Re-entry at 2.0133, initial stop at 2.0083.
Update 3: What a rollercoaster ride! S/L tightened to 2.0108 (guarantees -25).
Update 4: Blown again (-75)! 2nd re-entry at 2.0075, initial stop at 2.0025.
Tra-X
  • #949
  • Sep 14, 2007 9:20am Sep 14, 2007 9:20am
There is no divergence yet, which means there is more room to go down, any retracement would be shallow. Though I would say cable would stall here and gap down next week.
  • #950
  • Sep 14, 2007 10:08am Sep 14, 2007 10:08am
Opportunity #G41/07 (re-entry/2nd attempt)
GBP/USD Long
3 parts
Entry: 2.0075
Stop (initial): 2.0025

End of mini wave 5 of C or 1 (?).

Update 1: S/L tightened to 2.0152 (guarantees -6). There's possibility that it'll go down again.
Update 2: Stopped out for -18. Re-entry at 2.0133, initial stop at 2.0083.
Update 3: What a rollercoaster ride! S/L tightened to 2.0108 (guarantees -25).
Update 4: Blown again (-75)! 2nd re-entry at 2.0075, initial stop at 2.0025.
Update 5: Out at breakeven. Will try to re-enter again next week.

Total gain: -93
Tra-X
  • #951
  • Sep 14, 2007 10:12am Sep 14, 2007 10:12am
Quoting barak

I was thinking might it be end of wave 4. 4H chart. simple waves, if so, good entry.
Hey barak, thanks for sharing here. Wave 4 hmm..

Quoting Luffy
There is no divergence yet, which means there is more room to go down, any retracement would be shallow. Though I would say cable would stall here and gap down next week.
Thanks Luffy, well it's good if there's a gap down. At least I could try to scalp the gap first, and then a new wave up. Let's see.

Enjoy your weekend everyone.
Tra-X
  • #952
  • Sep 14, 2007 10:50pm Sep 14, 2007 10:50pm
Hi Traex,

What do you think of this count for GBP daily? The blue line is EMA(150) that I learned from James16. GBP could go down to 1.9030 area before it will start the powerful 3rd wave move.

Of course, this could be totally wrong and I would appreciate if you can make some comments on this counting :-)

Ken
Attached Image
  • #953
  • Sep 16, 2007 2:24pm Sep 16, 2007 2:24pm
Opportunity #G42/07
GBP/USD Long
3 parts
Entry: 2.0051
Stop (initial): 2.0001

End of mini wave C of A, or subwave C of 2 (?).

Set TP1 at 2.0091 for +40. S/L will move to 2.0041 once price hits 2.0071.

I haven't updated the charts since all charts seem to give ambiguous counts now. Will try to update later. Going off for now.
Tra-X
  • #954
  • Sep 16, 2007 11:14pm Sep 16, 2007 11:14pm
Opportunity #G42/07
GBP/USD Long
3 parts
Entry: 2.0051
Stop (initial): 2.0001

End of mini wave C of A, or subwave C of 2 (?).

Set TP1 at 2.0091 for +40. S/L will move to 2.0041 once price hits 2.0071.

Update 1: TP1 was hit (+40). S/L tightened to 2.0047 (guarantees -4).
Tra-X
  • #955
  • Sep 16, 2007 11:22pm Sep 16, 2007 11:22pm
Quoting goodtiding5
Hi Traex,

What do you think of this count for GBP daily? The blue line is EMA(150) that I learned from James16. GBP could go down to 1.9030 area before it will start the powerful 3rd wave move.

Of course, this could be totally wrong and I would appreciate if you can make some comments on this counting :-)

Ken
Hi Ken,
I prefer top of wave 1 at last week's top instead of 2.0230. I guess either count could be deemed correct at this moment anyway if Cable decided to go up from around this point (2.0000 area) onwards. Thanks for your thoughts.
Tra-X
  • #956
  • Edited Sep 17, 2007 12:57am Sep 16, 2007 11:55pm | Edited Sep 17, 2007 12:57am
Opportunity #G42/07 (re-entry)
GBP/USD Long
4 parts
Entry: 2.0003
Stop (initial): 1.9953

End of mini wave C of A, or subwave C of 2 (?).

Set TP1 at 2.0091 for +40. S/L will move to 2.0041 once price hits 2.0071.

Update 1: TP1 was hit (+40). S/L tightened to 2.0047 (guarantees -4).
Update 2: Stopped out for -8. Re-entry at 2.0003, initial stop at 1.9953. S/L tightened to 1.9980 (guarantees -23).
Tra-X
  • #957
  • Sep 17, 2007 2:40am Sep 17, 2007 2:40am
We'll see what US session brings for the moment the run down is out of steam it seems around 1.9950. There is a 62 % fib level at 1.9920 from the move up started on 17 Aug.
  • #958
  • Sep 17, 2007 5:46am Sep 17, 2007 5:46am
Quoting Traex
Opportunity #G42/07 (re-entry)
GBP/USD Long
4 parts
Entry: 2.0003
Stop (initial): 1.9953

End of mini wave C of A, or subwave C of 2 (?).

Set TP1 at 2.0091 for +40. S/L will move to 2.0041 once price hits 2.0071.

Update 1: TP1 was hit (+40). S/L tightened to 2.0047 (guarantees -4).
Update 2: Stopped out for -8. Re-entry at 2.0003, initial stop at 1.9953. S/L tightened to 1.9980 (guarantees -23).
I agree
I also long for gbp/usd
My target is 2.0300 area.
But if gbp/usd bypass important support at 1.9920 area then the down trend will be build.

Ps: thanks to SeekingLight for telling me this thread
  • #959
  • Sep 17, 2007 6:15am Sep 17, 2007 6:15am
Quoting bellefemme
Ps: thanks to SeekingLight for telling me this thread
You're welcome

The work Traex does is a great example for everyone in regards to consistency and a stringent approach and always an interesting read =)

Hoping your great trading will continue a long time Traex =)

Take care, both of you, and let's lift cable to 2.0388
Trust price. Know yourself.
  • #960
  • Sep 17, 2007 9:17am Sep 17, 2007 9:17am
Opportunity #G42/07 (re-entry/2nd attempt)
GBP/USD Long
4 parts
Entry: 1.9920
Stop (initial): 1.9870

End of mini wave C of A, or subwave C of 2 (?).

Set TP1 at 2.0091 for +40. S/L will move to 2.0041 once price hits 2.0071.

Update 1: TP1 was hit (+40). S/L tightened to 2.0047 (guarantees -4).
Update 2: Stopped out for -8. Re-entry at 2.0003, initial stop at 1.9953. S/L tightened to 1.9980 (guarantees -23).
Update 3: Blown again for -69. Last attempt at 1.9920, initial stop at 1.9870. It's at 50% fibo retracement of 1.9183 to 2.0652.
Tra-X
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