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Elliot Wave Trading

  • #1,381
  • Jan 3, 2007 1:45am Jan 3, 2007 1:45am
Quoting africanpip
The contracting triangle, on the daily, yesterday failed to materialise, however it appears that a barrier triangle is forming. If it does a short to around 9425 may be on the cards it all depends on how today plays out but it certainly appears exhausted. if the lower trend line is broken then certainly 94's look good. upper trendline break then fresh momentum will take it well into 98's possibly more. the next 8 - 10 hours will give a better picture.

Lets see what happens.
Absolutely - great observation.

Watching for the Rise to Knock out some stops, then should see large decline in the Weekly Price to adjust the Gap that occured in the open market.
  • #1,382
  • Jan 3, 2007 1:48am Jan 3, 2007 1:48am
Have an Entry Waiting to Short at 1.9749

Added one more Entry Waiting to Short at 1.9766

Frankfurt Open has knocked some Long Stops out, now will make it's move upwards to knock some Short Stops out.

Still at same price I entered Long.
  • #1,383
  • Jan 3, 2007 1:50am Jan 3, 2007 1:50am
This is observation of trading strategy I have put into effect.

Please do not consider this any type of trade signal or reccomendation.

Thank You.
  • #1,384
  • Jan 3, 2007 1:54am Jan 3, 2007 1:54am
-2 pips before London open -
  • #1,385
  • Jan 3, 2007 1:59am Jan 3, 2007 1:59am
Watching for Jump to 1.9735 or more.
  • #1,386
  • Jan 3, 2007 2:06am Jan 3, 2007 2:06am
Have an Entry Waiting to Short at 1.9749

Added one more Entry Waiting to Short at 1.9766

Frankfurt Open has knocked some Long Stops out, now will make it's move upwards to knock some Short Stops out.

Still at same price I entered Long. QUOTE

ALong with the 2 Entry for Short

I will add 1 more Entry for Short at 1.9798 at the Close of 15 Minute Candle below this Entry price.
  • #1,387
  • Jan 3, 2007 2:07am Jan 3, 2007 2:07am
Quoting monarch
Have an Entry Waiting to Short at 1.9749

Added one more Entry Waiting to Short at 1.9766

Frankfurt Open has knocked some Long Stops out, now will make it's move upwards to knock some Short Stops out.

Still at same price I entered Long. QUOTE

ALong with the 2 Entry for Short

I will add 1 more Entry for Short at 1.9798 at the Close of 15 Minute Candle below this Entry price.
I meant at 1.9698 not 1.9798
  • #1,388
  • Jan 3, 2007 2:11am Jan 3, 2007 2:11am
Still waiting for movement from London Open

+1 on Long Position.
  • #1,389
  • Jan 3, 2007 2:16am Jan 3, 2007 2:16am
Any predicitons from other traders?

  • #1,390
  • Jan 3, 2007 2:23am Jan 3, 2007 2:23am
This would be pretty boring stuff if I didn't have 50 Lots on this trade.
  • #1,391
  • Jan 3, 2007 2:30am Jan 3, 2007 2:30am
It looks as though there has been enough activity between 9720 amd 9750 to take out any stops up to that point. I am not convinced that stops above that will be taken out.

For now it really looks as though it is going to stay below 9725 or so, at least until the news, then who knows? We are generally seeing USD strength across the board at the moment which will tend to take the pair down and a good possibility of follow through after the news if there is good or even decent USD news. My thought is still that the pair is headed toward 9500.
  • #1,392
  • Jan 3, 2007 2:34am Jan 3, 2007 2:34am
Quoting moonchild
It looks as though there has been enough activity between 9720 amd 9750 to take out any stops up to that point. I am not convinced that stops above that will be taken out.

For now it really looks as though it is going to stay below 9725 or so, at least until the news, then who knows? We are generally seeing USD strength across the board at the moment which will tend to take the pair down and a good possibility of follow through after the news if there is good or even decent USD news. My thought is still that the pair is headed toward 9500.
This is exactly what I had in mind for most of yesterday, and especially today. The 1.9700 mark is holding support well, that was the reason I put a short in below at 1.9698 area. Right now I am expecting about 20 pip increase or a little more, but this could be all she wrote for this week.

It may be we have seen Weekly High, and were making a turn down now.

I have expectation for 1.9555 at least, but could dip a little lower once the steam lets out here at the top.

Thanks Moonchild
  • #1,393
  • Jan 3, 2007 2:37am Jan 3, 2007 2:37am
Monarch; Looks like you used your post # 500 and then some!! Congratulations !! This thread is Elliot Wave Trading. Is this the method you are following to make your comments?
  • #1,394
  • Jan 3, 2007 2:39am Jan 3, 2007 2:39am
Hi monarch, do you think non farm on friday will push this up or down?

my thoughts are that this might be the chance for it to hit 2 before the long awaited(if any) huge correction.
Right teaching produces right believing leads to right living. - J.P
  • #1,395
  • Jan 3, 2007 2:42am Jan 3, 2007 2:42am
Quoting fxkenny
Monarch; Looks like you used your post # 500 and then some!! Congratulations !! This thread is Elliot Wave Trading. Is this the method you are following to make your comments?
Cool Name

I made a promise I would not make another post in the GBP update thread on my 500th posts, but I have made some in other threads since. I have a goal set before I can make a Post in the GBP Thread, so I have decided to make most of my time resting here with Fixme1too and his thread.

I am using as much information Fixme1too has, and I am trying to use more EW for strategies. There are many differnet facets of trading style, but the Technical Analysis seems to be my favorite.

I love to study, and this allows my mind to be stretched and also I can learn so much from others such as Fixme1too, Northpro, and Itme.

If you have some stuff to post, please do it, I would like to see what you have.

See ya.
  • #1,396
  • Jan 3, 2007 2:46am Jan 3, 2007 2:46am
Quoting barakah
Hi monarch, do you think non farm on friday will push this up or down?

my thoughts are that this might be the chance for it to hit 2 before the long awaited(if any) huge correction.
How was the Holidays?

NFP should propel this market into a nice spike, the question always is - Which Way?

I usually stay out of the heavy news times, and sometimes I will close out a position especially NFP.

I use to try and trade the news, but it was beating me to death, now I strategize and test other means of making my allowance of profit.

If it shoots up, it could take us close to the 2's, and then if probably will fall down in a retracement from there. I would watch for the fallout of this news time to make any judgement as to when to enter for a position.
  • #1,397
  • Jan 3, 2007 2:51am Jan 3, 2007 2:51am
Well the Frankfurt Open was fun, but the London Open has been a drag.

Entered at 1.9715 and have been bouncing down to 9708 and up to 9722, could make a bunch of scalping points here, but I am sticking to my original entry and exit strategy.

Enter 1.9715 Exit 1.9735 Stop 1.9698

Win or Lose, I am not too concerned now, I am real tired.

1 am here in California
  • #1,398
  • Jan 3, 2007 2:55am Jan 3, 2007 2:55am
is it better to set a sell limit at 698 while taking a break than sl?

are we entering into new EWs for cable, anyone.

thanks and regards.
Right teaching produces right believing leads to right living. - J.P
  • #1,399
  • Jan 3, 2007 2:57am Jan 3, 2007 2:57am
my bad, lol sl is better, ... ...

Quoting barakah
is it better to set a sell limit at 698 while taking a break than sl?

are we entering into new EWs for cable, anyone.

thanks and regards.
Right teaching produces right believing leads to right living. - J.P
  • #1,400
  • Jan 3, 2007 3:00am Jan 3, 2007 3:00am
Monarch: Yes, I saw your posts in the cable thread last night. I typically use technicals also. Generally search the weekly,daily, and hourly charts for any interesting patterns. Do some trend line breaks also, which I think is very closely related to the pattern stuff. I generally keep a couple of MA's on the chart for eye candy.

I am in California also. North San Diego.

Good Luck !!!
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