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Elliot Wave Trading

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  • #1,281
  • Dec 9, 2006 1:58pm Dec 9, 2006 1:58pm
The cables ATR is 300 min on weely charts. With that said I would not be suprised to see mid 9200's. I am still set at 9340's but just a heads up here.
  • #1,282
  • Dec 9, 2006 7:37pm Dec 9, 2006 7:37pm
Quoting monarch
Fixme1too,

Looking at the 1 Month 30 Year Chart:

The High of 1.9846 on 12/1/2006 is an important area for the long term.

This High has not been passed since 1992, which it Closed "above" on the month of Aug 1992 and Closed "under" the following month of Sep 1992.

The 1.9850 has been a key area for resistance even back in the year of 1978 when this point was tested as a "Resistance" for several months, then in Jan and Feb of 1979 it actually became the new "Support" point for the market.

I would expect this number to be of vital importance to our expected Resistance this month, but we must also consider this point "possibly" becoming a new Support point in the coming months. if the market remains Bullish.

Monarch
It is amazing how the cable went exactly back to the price of 1.9846 on Dec 1st- this has shown itself as a strong resisitant point in the past, as noted in my post. We have had a 300 pip drop off since tipping the scale here, and it is showing its hand rather nicely as you said.

If price continues down towards the 1.9175 it could find itself resting on top on the 61.8% Fibo on the 1 Month 30 Year Chart. Wow - you said it would be our savings account, time to cash in the chips while there is still time.

Monarch
  • #1,283
  • Dec 9, 2006 8:35pm Dec 9, 2006 8:35pm
Look at the GBP/USD with a Bar Chart.

This Pin-Bar is setting up real nice here with a Nose above last months candle top by 150 pips. The Open of Dec is below Novembers candle top.

If the price stays below the price of 1.9700 this month, we could really see what is going to happen for months to come.

Just another tale-tale sign of indicators.

Monarch
  • #1,284
  • Dec 9, 2006 11:07pm Dec 9, 2006 11:07pm
Quoting monarch
Look at the GBP/USD with a Bar Chart.

This Pin-Bar is setting up real nice here with a Nose above last months candle top by 150 pips. The Open of Dec is below Novembers candle top.

If the price stays below the price of 1.9700 this month, we could really see what is going to happen for months to come.

Just another tale-tale sign of indicators.

Monarch
would u paste the chart? i learn better with chart posted. thanks in advance
  • #1,285
  • Edited Feb 2, 2007 5:50pm Dec 9, 2006 11:59pm | Edited Feb 2, 2007 5:50pm
Here is the GBP/USD 1 Month 30 Year Chart. You can see if the price closes below the 1.9695 level at the end of December, you will have what we call a Pin Bar - Nose will be December with November being the Left eye and January we will be looking to allign up as the Right eye - same as November.

This is what we are looking for in the next month or so, so do not take this as if it has happened, it is only an observation.

But looking at the Weekly we have last weeks High at 19846, and this weeks High was at 1.9837 - just 9 pips of each other. If you will look at your charts you will see this formation appearing often usually indicating change in direction. I will post this also.

Monarch
  • #1,286
  • Edited Feb 2, 2007 5:50pm Dec 10, 2006 12:21am | Edited Feb 2, 2007 5:50pm
Here is a look at the Weekly, this should give you an idea that we are heading down as Fixme1too has predicted.

Monarch
  • #1,287
  • Dec 10, 2006 9:49pm Dec 10, 2006 9:49pm
Hi All,

I just posted on the GBP thread as well, but just wanted to chip in that i've got the same forecast as Goodthings and its the same on EUR and GBP, see chart below.. looks like the bottom of a short term wave 4, i reversed my GBP position to long for this wave b up of wave 4 or start of wave 5. so i'm thinking temporarily long until 38fib is broken here.

longer term i'm with the down from monthly pin/peak etc. but we've got a shorter term bullish wave 5 first it appears..

Cheers,
~smoothy
Attached Image
  • #1,288
  • Dec 11, 2006 8:00am Dec 11, 2006 8:00am
Your chart is hard to read. I even tried latest version of Internet Explorer which can zoom in by various degrees.FF should allow larger than 600x600 size resolution charts.
  • #1,289
  • Dec 13, 2006 6:42am Dec 13, 2006 6:42am
Is this thread dead or have you moved somewhere else?
  • #1,290
  • Dec 14, 2006 6:13am Dec 14, 2006 6:13am
Fixme has moved to greener pastures I guess,,
fxtrada.com
  • #1,291
  • Dec 14, 2006 9:15am Dec 14, 2006 9:15am
fixme has mentioned recently that he plans to spend more time in his yahoo (?) online group. Send him a pm to find out if this is correct and how to join.
  • #1,292
  • Dec 14, 2006 3:32pm Dec 14, 2006 3:32pm
Yeah where the heck is he ??

He is one of the few who knew what he is talking about !!!

Now how will I trade ???? HA
  • #1,293
  • Dec 18, 2006 10:08am Dec 18, 2006 10:08am
IMO it's the end of wave 4 retracement or only 1 more mini wave left for eur/usd, gbp/usd, and possibly aud/usd..
Tra-X
  • #1,294
  • Dec 18, 2006 11:02am Dec 18, 2006 11:02am
Cable:

The A Wave was about 380 pips. Under assumption that the C would have the same length we would be at the 50% Retracement from the 17th Nov.- 1.Dec.

Only a idea.
  • #1,295
  • Dec 19, 2006 9:10pm Dec 19, 2006 9:10pm
A possibility that gbp/jpy might have or nearly finished its 1-mth-long wave 3 impulse..
Tra-X
  • #1,296
  • Dec 19, 2006 9:28pm Dec 19, 2006 9:28pm
does that mean down now?
  • #1,297
  • Dec 19, 2006 9:57pm Dec 19, 2006 9:57pm
Quoting goodthings
does that mean down now?
Yep, just watch out for any extensions tho.
Tra-X
  • #1,298
  • Dec 21, 2006 8:16am Dec 21, 2006 8:16am
December 21, 2006
USDCAD
Short

Entry: 1535

Target: 1370
Stop: 1700
  • #1,299
  • Edited 8:36am Dec 21, 2006 8:17am | Edited 8:36am
December 21, 2006

GBPUSD

BUY

Entry: 9590
Target: 9685
Stop: 9485


I am trying something new with time. These trades are not not like my trades from the past. I would never enter a revesal in the middle of the day on the cable when the trend for the day has already been established. Use these trades for watch purposes only.
  • #1,300
  • Dec 22, 2006 6:58am Dec 22, 2006 6:58am
Hi FixMeOneTwo, The above long GBP/USD trade targeting 1.9585 came 4 pips from the target. Not bad for a trade entered "in the middle of the day". I did a study of reversal times once, and found that they can occur almost any time of day, however, they do occur more often at certain times.
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