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Harmonic Wave Journal

  • #1,221
  • Oct 18, 2007 2:07am Oct 18, 2007 2:07am
Quoting Traex
Opportunity #E41/07
EUR/USD Long
3 parts

Update 3: Took 2nd profit at 1.4252 (+96).
Bro, looks like Mac won't do the cut for our lunch tomor, aye, Jest? Maybe crystal jade would be good.

j/k, grats on the counts.
Still waters run deep
  • #1,222
  • Oct 18, 2007 8:02am Oct 18, 2007 8:02am
Opportunity #E41/07
EUR/USD Long
3 parts
Entry: 1.4156
Stop (initial): 1.4116

End of mini wave 2 of 5 (?).

Update 1: Took 1st profit at 1.4194 (+38). S/L tightened to 1.4150 (guarantees -6).
Update 2: S/L tightened to 1.4179 (guarantees +23).
Update 3: Took 2nd profit at 1.4252 (+96).
Update 4: Took last profit at 1.4309 (+153). Trade is closed.

Total gain: +287
Tra-X
  • #1,223
  • Oct 18, 2007 8:42am Oct 18, 2007 8:42am
Excellent Job!! Traex
  • #1,224
  • Oct 18, 2007 10:30am Oct 18, 2007 10:30am
Quoting barak
Bro, looks like Mac won't do the cut for our lunch tomor, aye, Jest? Maybe crystal jade would be good.

j/k, grats on the counts.
Thanks man.. lol yea let's meet tomorrow.

Quoting viat
Excellent Job!! Traex
Thanks and welcome, viat.
Tra-X
  • #1,225
  • Oct 18, 2007 10:59am Oct 18, 2007 10:59am
Quoting Traex
End of mini wave 2 of 5 (?).


Update 4: Took last profit at 1.4309 (+153). Trade is closed.

Waitwaitwaitwait...end of mini wave 2, right? So wave 3? Isn't the min target for that at LEAST 1.4365 ish?
Did I count/project wrong?
Why are you already all closed? Where'd I go wrong?

And how do you always manage to squeeze out the high to the very last pip, seriously

I'm jealous!
Trust price. Know yourself.
  • #1,226
  • Oct 19, 2007 12:27am Oct 19, 2007 12:27am
Hi Traex,

Here is my try on the UJ daily chart. It looks like that we are in the C of the wave 2. It could stop at 50% of the wave 1 around 114.50 area. The uptrend line support will also be there based on my FXDD chart. We will see what happen here.

Ken
Attached Image
  • #1,227
  • Oct 19, 2007 7:21am Oct 19, 2007 7:21am
Heya, just wanted to give my best updated guess for GPBUSD

I think if we take out 2.06 strongly enough there's really nothing much that can stop us from going to 2.08+ eventually as the next bigger wave target..but heck, trade what you see, not what you think, right?

Just looking for a thumbs up, really
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_191007_wave_count.gif Size: 19 KB
Trust price. Know yourself.
  • #1,228
  • Oct 19, 2007 1:15pm Oct 19, 2007 1:15pm
Quoting SeekingLight
Heya, just wanted to give my best updated guess for GPBUSD

I think if we take out 2.06 strongly enough there's really nothing much that can stop us from going to 2.08+ eventually as the next bigger wave target..but heck, trade what you see, not what you think, right?

Just looking for a thumbs up, really
Well, EUR/USD is still on track for a surprise jump to 1.48 by end of month? (lol) It's abit too optimistic tho. 1.4220-230 seems to be a good point to buy again, let's see next week. Gratz again on your trades, SeekingLight.

For this cable dude, it has broken the early month's top so it certainly opens more chance to go to that long-awaited 2.08+. Mini wave 3 of 3 up now? Or subwave 5 like in your chart.
Tra-X
  • #1,229
  • Oct 19, 2007 1:20pm Oct 19, 2007 1:20pm
Quoting goodtiding5
Hi Traex,

Here is my try on the UJ daily chart. It looks like that we are in the C of the wave 2. It could stop at 50% of the wave 1 around 114.50 area. The uptrend line support will also be there based on my FXDD chart. We will see what happen here.

Ken
Hi Ken, wow you put wave B up there, means it's a very unique correction (irregular flat with a very expanded B). It's possible tho, but waves like those I don't normally count them that way. Waiting for market to prove it. Thanks for the chart.

Enjoy your weekend everyone.
Tra-X
  • #1,230
  • Oct 19, 2007 1:26pm Oct 19, 2007 1:26pm
Hi Traex,

I'm still admiring your skills... and honing my own. I'm seeing a lot more trades but having trouble pulling the trigger.

Say, on your exit from EURUSD (TP3), as SeekingLight asked, how did you manage to pick the VERY peak (before a multi-hour retrace) to sell? Seriously... I'm wondering if there was a trendline, or a specific fibo projection, or ?? You're so good at picking entries/exits, maybe you just have great psychic skills as well as analytical skills... lol.


Have a great weekend also.

Pips4life
  • #1,231
  • Oct 19, 2007 1:39pm Oct 19, 2007 1:39pm
Quoting pips4life
Say, on your exit from EURUSD (TP3), as SeekingLight asked, how did you manage to pick the VERY peak (before a multi-hour retrace) to sell? Seriously... I'm wondering if there was a trendline, or a specific fibo projection, or ?? You're so good at picking entries/exits, maybe you just have great psychic skills as well as analytical skills... lol.
I had this one still drawn into my chart...bounced off of it three times again now...just saying, that's there ;p

But Traex prolly counted the mini-waves within mini-waves, right? (wish I could do that)

Have a great weekend everyone and thanks for the input Traex! I'm going to my bed tonight chanting "2.08, 2.08, 2.08!"
Attached Image
Trust price. Know yourself.
  • #1,232
  • Oct 21, 2007 6:13am Oct 21, 2007 6:13am
Quoting pips4life
Say, on your exit from EURUSD (TP3), as SeekingLight asked, how did you manage to pick the VERY peak (before a multi-hour retrace) to sell? Seriously... I'm wondering if there was a trendline, or a specific fibo projection, or ?? You're so good at picking entries/exits, maybe you just have great psychic skills as well as analytical skills... lol.
Hi pips4life, it is as SeekingLight said above, I use very mini waves for the exit. Furthermore it was already within my TP3 target range (a break above 1.4300). No trendline up here in my chart tho.
Tra-X
  • #1,233
  • Edited 7:29am Oct 21, 2007 6:26am | Edited 7:29am
Weekly review and recap:

Total trades closed = 4, winners = 3, loser = 1
Total gain in winners = 766, total loss in loser = 9
Net gain this week = +757

USD selling made most of the moves, with EUR/USD and Cable still on their way upwards and USD/JPY downwards. GBP/JPY's H&S formation in weekly is becoming a threat, hope it'd turn upwards in the middle and wouldn't cause a recession (or even crisis) in Asia again.

Good luck to everyone next week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu 30m.gif Size: 22 KB
Click to Enlarge Name: eu h1.gif Size: 20 KB
Click to Enlarge Name: gj 1h part 1.gif Size: 20 KB
Tra-X
  • #1,234
  • Oct 22, 2007 4:11am Oct 22, 2007 4:11am
Opportunity #J9/07
USD/JPY Long
3 parts
Entry: 113.60
Stop (initial): 113.25

End of mini wave 2 or B, gap trade.

Opportunity #GJ10/07
GBP/JPY Long
3 parts
Entry: 232.70
Stop (initial): 232.24

End of mini wave 2 or B, gap trade.
Tra-X
  • #1,235
  • Oct 22, 2007 5:52am Oct 22, 2007 5:52am
Hey, just wanted to pop in and ask whether if GBPUSD's 2.024 consolidation low is taken out, would that in turn make 2.055 the aborted Wave 5 and mark a new wave down / correction?

I'm running out of excuses to pretend GBPUSD might actually get somewhere higher if it falls past this .618 at around 2.0355 and since I expect GJ to return to 220 and below eventually, it's getting tricky
Trust price. Know yourself.
  • #1,236
  • Oct 22, 2007 6:08am Oct 22, 2007 6:08am
Opportunity #G54/07
GBP/USD Long
3 parts
Entry: 2.0356
Stop (initial): 2.0306

End of mini wave 2 or 4 (?).

Opportunity #E42/07
EUR/USD Long
3 parts
Entry: 1.4206
Stop (initial): 1.4166

End of mini mini wave 2 of 3 (?).
Tra-X
  • #1,237
  • Oct 22, 2007 6:11am Oct 22, 2007 6:11am
Opportunity #GJ10/07
GBP/JPY Long
3 parts
Entry: 232.70
Stop (initial): 232.24

End of mini wave 2 or B, gap trade.

Update 1: That was fast killing lol. Out for -138.

Total gain: -138
Tra-X
  • #1,238
  • Edited 8:16am Oct 22, 2007 7:10am | Edited 8:16am
Opportunity #J9/07
USD/JPY Long
3 parts
Entry: 113.60
Stop (initial): 113.25

End of mini wave 2 or B, gap trade.

Update 1: Took 1st profit at 114.06 (+46). S/L tightened to 113.55 (guarantees -5).
Tra-X
  • #1,239
  • Oct 22, 2007 7:26am Oct 22, 2007 7:26am
Opportunity #G54/07
GBP/USD Long
3 parts
Entry: 2.0356
Stop (initial): 2.0306

End of mini wave 2 or 4 (?).

Update 1: Full blow for -150.

Total gain: -150

Opportunity #E42/07
EUR/USD Long
3 parts
Entry: 1.4206
Stop (initial): 1.4166

End of mini mini wave 2 of 3 (?).

Update 2: Also full blow for -120.

Total gain: -120

Not a day to trade, definitely.
Tra-X
  • #1,240
  • Oct 22, 2007 7:37am Oct 22, 2007 7:37am
Quoting SeekingLight
Hey, just wanted to pop in and ask whether if GBPUSD's 2.024 consolidation low is taken out, would that in turn make 2.055 the aborted Wave 5 and mark a new wave down / correction?

I'm running out of excuses to pretend GBPUSD might actually get somewhere higher if it falls past this .618 at around 2.0355 and since I expect GJ to return to 220 and below eventually, it's getting tricky
The medium term count will be invalid only if cable drops below 1.9880 low. Well today's nosedive is really stunning, EUR/USD dropped over 210 pips today so far, first time ever since I started trading last year. Any fundamental takings?
If GBP/JPY drops below 220, there's H&S target at 190 lol. As I said I really don't want that to happen, as there'll be a possibility of another Asian economic crisis again (like in 1998), and I just almost finish my study. Oh my.
Tra-X
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