Update
Attached Image (click to enlarge)
- #1,422
- Jan 3, 2008 1:56am Jan 3, 2008 1:56am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Here is what keeps trading hours a bit more colorful than just seeing EW counts, patterns and channels....
Notice how the MAs spread like a Fan as it develops a wave 3. At least that is how I see it.
Thanks to TheWicker for sharing his indicators for for his Trend Follower System
http://www.forexfactory.com/showthread.php?t=40325
EG
Notice how the MAs spread like a Fan as it develops a wave 3. At least that is how I see it.
Thanks to TheWicker for sharing his indicators for for his Trend Follower System
http://www.forexfactory.com/showthread.php?t=40325
EG
- #1,425
- Jan 3, 2008 3:24am Jan 3, 2008 3:24am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Barrier Triangle
Bullish Flag over extended and Now looks like Wave 4 is forming a big Barrier Triangle.
Watch out for a possible throwunder which could be a False Breakout to the Down side.
Barrier triangles in this form normally are Bullish as the Textbook would say.
Now it makes more good sense why it is best to wait for a breakout at 1.4750.
EG
Bullish Flag over extended and Now looks like Wave 4 is forming a big Barrier Triangle.
Watch out for a possible throwunder which could be a False Breakout to the Down side.
Barrier triangles in this form normally are Bullish as the Textbook would say.
Now it makes more good sense why it is best to wait for a breakout at 1.4750.
EG
- #1,426
- Jan 3, 2008 3:41am Jan 3, 2008 3:41am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
And here is my view for EUR/USD.
i will go long when will break trough my upper trend line. but we must stay under my lower trend line. Other pairs check here
Attachment
I just noticed that your wave 2 is similar to my previous chart using Meta-Quotes Platform. I had a problem defining a Zigzag with that chart data because of the relationship between Wave C and wave A.
I had a different view when I checked a different platform. you might want to check other platforms to verify.
EG
- #1,428
- Jan 3, 2008 4:33am Jan 3, 2008 4:33am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
our flag has morphed a little but still very valid...still looking for the break up!
Hey Tim...
Yes the Flag is still in play and infact just now I see it have a better fit into a channel.
well it has broken out of the channel just now.
But is it not that FLAGS are 5 waves while we still have just 3 inside the channel now or am I missing something here?
EG
- #1,430
- Jan 3, 2008 5:04am Jan 3, 2008 5:04am
Hi Grega,
I just noticed that your wave 2 is similar to my previous chart using Meta-Quotes Platform. I had a problem defining a Zigzag with that chart data because of the relationship between Wave C and wave A.
I had a different view when I checked a different platform. you might want to check other platforms to verify.
EG
Yes you have right, i was in the same way like you. If you look my zig-zag in this wave 2, you can check that my b was go up around 61,8% of previous wave a. Becouse of that i decided to be this move my wave b. I also check this on the others platforms. But now is already break up todays high, so long positions are in the actions, I am long from 1,4737 with stop loss at 1,4703.
- #1,431
- Jan 3, 2008 6:59am Jan 3, 2008 6:59am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
a Possibility for EURUSD
just toying on the idea for now. currently out of the market . exited @1.4773
Missed 9 pips of max it went up earlier.
On 15min chart I see 2 pin bars and oscillators are over bought that is why I am thinking that this might just be sub wave 1 of 5 followed by what seems like an expanded FLAT.
if not, then I miss the train . will look for better set ups to trade tomorrow morning.
EG
just toying on the idea for now. currently out of the market . exited @1.4773
Missed 9 pips of max it went up earlier.
On 15min chart I see 2 pin bars and oscillators are over bought that is why I am thinking that this might just be sub wave 1 of 5 followed by what seems like an expanded FLAT.
if not, then I miss the train . will look for better set ups to trade tomorrow morning.
EG
- #1,432
- Jan 3, 2008 7:06am Jan 3, 2008 7:06am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
or this could be a better possibility.
Well... I am going to get some much needed sleep tonight. See you all in the morning.
Good Trading to All of you.
EG
Well... I am going to get some much needed sleep tonight. See you all in the morning.
Good Trading to All of you.
EG
- #1,433
- Jan 3, 2008 7:29am Jan 3, 2008 7:29am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
I could not resist printing this out before I closed my PC
Price is below Monthly, weekly and Daily Pivot.
I would consider really very Bearish. However, this pair needs to retrace for a correction which I believe is happening now with the sub wave 4 of Wave 3 or C down.
EG
Price is below Monthly, weekly and Daily Pivot.
I would consider really very Bearish. However, this pair needs to retrace for a correction which I believe is happening now with the sub wave 4 of Wave 3 or C down.
EG
a Possibility for EURUSD
just toying on the idea for now. currently out of the market . exited @1.4773
Missed 9 pips of max it went up earlier.
On 15min chart I see 2 pin bars and oscillators are over bought that is why I am thinking that this might just be sub wave 1 of 5 followed by what seems like an expanded FLAT.
if not, then I miss the train . will look for better set ups to trade tomorrow morning.
EG
- #1,436
- Jan 3, 2008 7:53am Jan 3, 2008 7:53am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
another chart
may just be in wave 4 of a 5 wave structure A
EG
may just be in wave 4 of a 5 wave structure A
EG
- #1,437
- Edited 8:11am Jan 3, 2008 8:01am | Edited 8:11am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
whew.... I took a peek at EURUSD....
I got out just in time then with my long trade. Now waiting for a nice set up for a new Long Trade.
EG
I got out just in time then with my long trade. Now waiting for a nice set up for a new Long Trade.
EG
- #1,438
- Jan 3, 2008 8:15am Jan 3, 2008 8:15am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
here's what I mean...notice divergence on awesome oscillator...wave 5 creates divergence because it is not as strong as wave 3
Hi Tim... I thought you were going to sleep too.....
Anyway, thank you for checking on my charts for EURUSD. Do you mean that the second chart I proposed is the better choice?
Since I have counted 5 waves on the move up and price has not surpassed main wave 3 top at 1.4966, then this must have just beem sub wave 1 of 5 and sub wave 2 of 5 is expected to retrace sub wave 1 by 61.8% which is around 1.4511
Otherwise...... at what level do you expect price to bounce or where would you consider starting to load Long Trades?
EG
