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Cable Update (GBPUSD)

  • #32,621
  • Sep 25, 2007 10:09am Sep 25, 2007 10:09am
oooooOOOPPPSSS, forgot to post this photo, this proves, I'm actually tired and need some rest.

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Hello World!
  • #32,622
  • Sep 25, 2007 10:22am Sep 25, 2007 10:22am
Quoting Islander
Whilst your first chart is a possibility, your second is incorrect from an Elliott Wave point of view. Wave 4 cannot move below the W1 high for a valid EW count.

That is a common misconception. Elliott never said cannot, he said should not. Nothing is absolute.
  • #32,623
  • Sep 25, 2007 10:28am Sep 25, 2007 10:28am
Quoting allserene
oil is only 79 dollars... cheap eh ? housing shot and banking crisis - lets go for a record on the DOW !

somebody should write a book 'the death of fundamentals'

of course it will come just after my short gets bounced out - it always does

might short when these cocaine freaks take it over 14k or 20k if we declare war on iran
As they say, "the stock market climbs a wall of worry." And there is plenty of that nowadays.
  • #32,624
  • Sep 25, 2007 11:19am Sep 25, 2007 11:19am
good night ... forum sleep ... sweet dreams
  • #32,625
  • Sep 25, 2007 1:29pm Sep 25, 2007 1:29pm
Quoting SunTrader
That is a common misconception. Elliott never said cannot, he said should not. Nothing is absolute.
I was quoting directly from Robert Miners Dynamic Trading Theory, Chapter 3, page 11 - and also as set down in many other books on the subject.

Unfortunately, I have not read Elliotts original work.

However, I agree with you that it would be better put as "should not" as a small incursion should not IMO invalidate an otherwise good wave structure.

In this case, the violation was by 100 or so pips, over more than 8 bars quite sufficient IMO to invalidate the count.....
Trading Levels with WRBs
  • #32,626
  • Sep 25, 2007 2:07pm Sep 25, 2007 2:07pm
Quoting Islander
I was quoting directly from Robert Miners Dynamic Trading Theory, Chapter 3, page 11 - and also as set down in many other books on the subject.

Unfortunately, I have not read Elliotts original work.

However, I agree with you that it would be better put as "should not" as a small incursion should not IMO invalidate an otherwise good wave structure.

In this case, the violation was by 100 or so pips, over more than 8 bars quite sufficient IMO to invalidate the count.....
I have the same Robert Miner book and like you have never read any of Elliott's writings. I look for whether there is a close within the range of wave1, but only on a timeframe 60 minutes or higher. Below this I believe is really too volatile to hold to the rule.
  • #32,627
  • Sep 25, 2007 3:32pm Sep 25, 2007 3:32pm
Hi ClockTrader....
Watch py P/L!!!!
.
  • #32,628
  • Sep 25, 2007 4:08pm Sep 25, 2007 4:08pm
wow, i went outside for 5 hours and this thread is still in the same page?

hey look 2 pinocchios on the dailies lool
  • #32,629
  • Sep 25, 2007 4:26pm Sep 25, 2007 4:26pm
ops, he did it again
  • #32,630
  • Sep 25, 2007 7:12pm Sep 25, 2007 7:12pm
I thinkt that Cable couldn't go above its resistance 2.0216 three times (or three candles) at 4h chart but failed. Cable may retrace to 2.0146 or 2.0120 or 2.0084 (yesterday low level).
  • #32,631
  • Sep 25, 2007 7:29pm Sep 25, 2007 7:29pm
Quoting soros_junior
i am short on GJ... target 220.++
On the Daily GBP/JPY ... again those outsized calls... WTF... Thankfully not on this thread
.
  • #32,632
  • Sep 25, 2007 7:31pm Sep 25, 2007 7:31pm
Quoting bullrock
On the Daily GBP/JPY ... again those outsized calls... WTF... Thankfully not on this thread
what's wrong with u?
  • #32,633
  • Sep 25, 2007 8:25pm Sep 25, 2007 8:25pm
Quote
Hi ClockTrader....
Watch py P/L!!!!


Good Morning/Night Everyone,
BR, I just woke up and its such a pleasant surprise, you rock man, you rock !!!I'm glad for you
Hello World!
  • #32,634
  • Sep 25, 2007 8:34pm Sep 25, 2007 8:34pm
hey BR,

u aren't posting the pics of profits, r u ?

just curious
Hello World!
  • #32,635
  • Sep 25, 2007 8:44pm Sep 25, 2007 8:44pm
are u short or long?
am clueless now.....


Quoting bullrock
On the Daily GBP/JPY ... again those outsized calls... WTF... Thankfully not on this thread
  • #32,636
  • Sep 25, 2007 8:55pm Sep 25, 2007 8:55pm
i am still short... target 1.9665
  • #32,637
  • Sep 25, 2007 9:05pm Sep 25, 2007 9:05pm
Quoting soros_junior
i am still short... target 1.9665


That would be nice...I'm short also....see what happens.
  • #32,638
  • Sep 25, 2007 9:11pm Sep 25, 2007 9:11pm
bro be serious , r u realy short or long?:surprised

Quoting soros_junior
i am still short... target 1.9665
  • #32,639
  • Sep 25, 2007 9:13pm Sep 25, 2007 9:13pm
Quoting mcmartins
bro be serious , r u realy short or long?:surprised
short... as the major trend is still DT... i'm targetting 1.9665
  • #32,640
  • Sep 25, 2007 9:22pm Sep 25, 2007 9:22pm
LOL,

That makes a bunch of us, I'm short on cable and fiber

Should have taken my hundred pips on fiber.. lol.. i think fiber has good uptrend in short run. Will need to hedge my fiber position once good pullback in market happens. 1.42 could be hit before we see any major reversal on fiber.

cable is just in don't-piss-me-i-like-range mode...
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