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Diary of a Mad Surfer

  • #321
  • Feb 8, 2008 6:34am Feb 8, 2008 6:34am
This looks like a no trade day.
Just Trade It
  • #322
  • Feb 8, 2008 8:26am Feb 8, 2008 8:26am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting razldazl
You know what I dont see the difference to be honest...there must be something special about it, but I havent found it the system just doesnt work with things that ran with XP, I dont get it, my scanner is new this year so you would think it should be compatible...its probly a plot to make us buy all new hardware Im thinking LOL...anyone else using Vista out there and finding it special¨? Well, Im no expert I just do what I did with XP, but it is a pain I have to say...Raz
all i know is it takes up more memory, runs slower and is a pain in the back side with older software. i have it loaded on my laptop, but still prefer the desktop on XP. it's got a compatability program built in but seem to not work correctly either. another windows program rushed out to beat the competition.

from what i understand it was designed to run on duel and quad processors, which i've heard it handles rather well, so when i get my mutli screen and terabite system (wife leans over shoulder and said "dream on") i'll let you know.
  • #323
  • Edited 11:02am Feb 8, 2008 8:41am | Edited 11:02am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
30pip gap on the usdcad, look at the 1h, massive drop, 4h down 8x13, daily short all crossed.

so will the gap be closed, or is just an blip on my platfrom? and will the 13x100 on the 4h? all this after a great test of the pivot at 1.0125, now attacking the S1.

i know crazy friday, but should be set for a monday trend trade.

edit:
1h has now crossed 13x100 short, with a nice retracement for entry around the 1.00 area. will watch for 4h 13x100 short to complete, only a 1pip gap between, but will look for the candle to close.
  • #324
  • Feb 8, 2008 11:31am Feb 8, 2008 11:31am
UCad 4hr Good unemployment numbers gave strength to the loonie All TF's are below the 200 and getting all crosses. Failure to go up was at the pivot, This looks like it could be good for a short but I dont like trading on gaps.
Take the fibo on the daily and walk it up and measure wave a then measure wave b then c to give you an idea on where the levels are. here are the levels on the next wave down from c
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 23 KB
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  • #325
  • Feb 8, 2008 11:43am Feb 8, 2008 11:43am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
UCad 4hr Good unemployment numbers gave strength to the loonie All TF's are below the 200 and getting all crosses. Failure to go up was at the pivot, This looks like it could be good for a short but I dont like trading on gaps.
Take the fibo on the daily and walk it up and measure wave a then measure wave b then c to give you an idea on where the levels are. here are the levels on the next wave down from c
not much at once wave at this wave at that, it's like a day out with the kids.

BWR, when you reffer to waves would you mind labeling the points you are refering to, would be nice to pick up a little EW to add to the tools kit. so do we wait for the gap to be closed?
  • #326
  • Feb 8, 2008 12:02pm Feb 8, 2008 12:02pm
This is the most basic E.W pattern. Imagine this but upside down for Cad.
We finised wave c corrective on the daily And we are possibly making a third out of 1,2,3 wave down back into the long term trend. (one other option is it turns into a double zig zag which would give us another ABC wave formation. either can happen

http://www.elliottwave.com/club/memb...ages/fig_2.gif
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  • #327
  • Feb 8, 2008 12:14pm Feb 8, 2008 12:14pm
Here is my wave count USCAD Daily
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 22 KB
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  • #328
  • Feb 9, 2008 1:25pm Feb 9, 2008 1:25pm
Here is my analysis on the following currency pairs. Please do not take it as a trade but rather do your own analysis and come to your own conclusions. Please feel free to add on as it will benefit everyone. I am open to discussions. I only went by what I saw on the charts.

This is what I see on the Daily Charts. Don’t take it as signals but rather do your own reasearch and reach your own conclusions.



Currencies

AUD/USD In Bullish territory. We might see downward movement and also dependant upon the equity markets / gold.

EUR/AUD In Bear territory. With Friday/s close, we might see some upward movement if the equity markets continue their sell off.

EUR/CHF In bearish territory. Consolidating for a possible breakout towards the upside.

EUR/JPY In Bearish Territoriy. Sitting below the 200 EMA. Sell on rallies.

EUR/USD Daily in Bear territory. Candle closed in the middle of the 100 EMA. Strong upward / stable movement on Fridays closing. Weekly, Monthly Still in Bull Territory.

EUR/GBP Consolidating for a breakout. In bullish territory.

EUR/CAD In Bear territory. Sitting below the 200 EMA.

GBP/CAD Bearish territory. Sell on rallies.

GBP/CHF In bearish territory, consolidating on the daily TF.

GBP/USD In bearish territory.

GBP/JPY Bearish. Sell on Rallies.

USD/CAD Sittiting below the 100 EMA. Bearish

USD/CHF 8x13 crossed bullish. Consolidating. Sitting Below the 100 EMA.

USD/JPY Consolidating on the Daily for a breakout. Daliy, Weekly & Monthly in Bear territory.
Humble Lifetime Member
  • #329
  • Feb 9, 2008 1:38pm Feb 9, 2008 1:38pm
Hey BWR, I know that you only trade USD/CAD but have you ever thought about trading EUR/CAD & or GBP/CAP.

My observations from the past few months have been that in relation to USD/CAD, EUR/CAD moves 1.5 more and GBP/CAD moves about 2 times more. What do you think? A couple of months ago, I traded EUR/CAD on the daily and walked away with over 1300 pips in a few weeks.
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  • #330
  • Feb 9, 2008 4:52pm Feb 9, 2008 4:52pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Hi Ash
thanks for putting this up here, could you please explain some of the terms, i'm a chart trader and the terms still lose me.

Quoting Ash
Here is my analysis on the following currency pairs. Please do not take it as a trade but rather do your own analysis and come to your own conclusions. Please feel free to add on as it will benefit everyone. I am open to discussions. I only went by what I saw on the charts.

This is what I see on the Daily Charts. Don’t take it as signals but rather do your own reasearch and reach your own conclusions.




Currencies


AUD/USD In Bullish territory. We might see downward movement and also dependant upon the equity markets / gold.

EUR/AUD In Bear territory. With Friday/s close, we might see some upward movement if the equity markets continue their sell off.

EUR/CHF In bearish territory. Consolidating for a possible breakout towards the upside.

EUR/JPY In Bearish Territoriy. Sitting below the 200 EMA. Sell on rallies.
sell the pair from the highs, ie 100 area
EUR/USD Daily in Bear territory. Candle closed in the middle of the 100 EMA. Strong upward / stable movement on Fridays closing. Weekly, Monthly Still in Bull Territory.

EUR/GBP Consolidating for a breakout. In bullish territory. is like a retracement to gather strength to head up again

EUR/CAD In Bear territory. Sitting below the 200 EMA.

GBP/CAD Bearish territory. Sell on rallies.

GBP/CHF In bearish territory, consolidating on the daily TF.

GBP/USD In bearish territory.

GBP/JPY Bearish. Sell on Rallies.

USD/CAD Sittiting below the 100 EMA. Bearish

USD/CHF 8x13 crossed bullish. Consolidating. Sitting Below the 100 EMA.

USD/JPY Consolidating on the Daily for a breakout. Daliy, Weekly & Monthly in Bear territory. heading higher to find the strength to push down further.
EJ how do we decide the trend, month week and daily charts give mixed results?

thanks again

MPP
  • #331
  • Feb 10, 2008 2:24am Feb 10, 2008 2:24am
Quoting Big Wave Rider
I forgot to fill out my trading plan this morning, be back in a few.
I love my plan, it's like having a map. since I started it I have been 100% on my trades. Okay I lost 2 but that was because I didn't follow my plan, got greedy and tried a quick scalp, then I looked at my plan again and I traded in the opposite direction of what my plan said to do. Lack of DISCIPLINE will get you every time.
Hello BWR - I'm a newbie here and am slowly begining to learn/appreciate your strategy. I partcularly like your idea the log and have improvised it for my own strategy which I'm currently using. But having started to learn yours I was wondering if you could post one of your completed logs for a trade. It would help with getting an indea of what the filled in log might look like.
  • #332
  • Feb 10, 2008 2:36am Feb 10, 2008 2:36am
Quoting MPP
Hi Ash
thanks for putting this up here, could you please explain some of the terms, i'm a chart trader and the terms still lose me.

EJ how do we decide the trend, month week and daily charts give mixed results?

thanks again

MPP
Sorry, sometimes I am not that clear in my postings. What I usually do when I sell on the rallies is when the price hits the 8 EMA line on the daily bar or if it really pushing forward, I take up an entry n the 13 SMA. That's how I take sell on rallies or buy on dips in a uptrend. I know that individuals have other methods but this seems to work for me.

EUR/GBP, is in bullish territory but has been consolidating for a possible move toward the upside (IMHO).

USD/JPY has been consolidating for the past week toward the upside. This pair is in bear territory on the daily, weekly and monthly charts. It is possible that it is moving up in order to push back down. If it is, I would say that a possible target of 109 would be in order but personally, I am staying away from this one. I would rather let it go up and then sell rather than get stuck and have the markets move this pair like a yo-yo.

As far trying to make sense of trends, I trade by the daily charts and take it from there.
Humble Lifetime Member
  • #333
  • Feb 10, 2008 5:17am Feb 10, 2008 5:17am
Quoting Ash
Here is my analysis on the following currency pairs. Please do not take it as a trade but rather do your own analysis and come to your own conclusions. Please feel free to add on as it will benefit everyone. I am open to discussions. I only went by what I saw on the charts.

This is what I see on the Daily Charts. Don’t take it as signals but rather do your own reasearch and reach your own conclusions.


Currencies



GBP/JPY Bearish. Sell on Rallies.
Hi Ash - just wanted yor thoughts on GJ. It looks to me like we should be seeing a corrective wave b on the daily. The daily momentum is also starting to point north....so I'm looking for that move up to go long. Doesn't look like much more room on the short side. Don't see it falling beyond 206.8.....any additional thoughts?
  • #334
  • Feb 10, 2008 5:34am Feb 10, 2008 5:34am
Quoting Timingy
Hi Ash - just wanted yor thoughts on GJ. It looks to me like we should be seeing a corrective wave b on the daily. The daily momentum is also starting to point north....so I'm looking for that move up to go long. Doesn't look like much more room on the short side. Don't see it falling beyond 206.8.....any additional thoughts?
Hey there!

On Gj, I see it consolidating for a breakout. I don't know much about Elliot Waves, so wouldn't be able to comment. I don't utilize AUS's momemtum indicator (if that is the one your speaking from the days on Aus's thread) but even if I were to place them on my chart, they are flat on the 1, 4hr and Daily Chart. The 15 Min is crossed down and per his rules, there should be a minimum 100 pip drop but I don't trade with his indicators. Do you see something different? Please comment.

Until I don't see a clear crossing of the 8x13 on the daily, I will keep on selling on the 8EMA/13SMA.
Humble Lifetime Member
  • #335
  • Feb 10, 2008 3:24pm Feb 10, 2008 3:24pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
100ema on EU daily were's your's?

i'm running both an mt4 demo and a NF demo but the 100 is 60pips different.

MT4 - 1.4470
NF - 1.4529

anyone know why
  • #336
  • Feb 11, 2008 1:33am Feb 11, 2008 1:33am
Quoting Ash
Hey there!

On Gj, I see it consolidating for a breakout. I don't know much about Elliot Waves, so wouldn't be able to comment. I don't utilize AUS's momemtum indicator (if that is the one your speaking from the days on Aus's thread) but even if I were to place them on my chart, they are flat on the 1, 4hr and Daily Chart. The 15 Min is crossed down and per his rules, there should be a minimum 100 pip drop but I don't trade with his indicators. Do you see something different? Please comment.

Until I don't see a clear crossing of the 8x13 on the daily, I will keep on selling on the 8EMA/13SMA.
Yes - I'm with you on that. But am expecting a reversal (hopefully this week) and hoping to go long for the corrective wave up. Meanwhile like you say - sell the rallies.
  • #337
  • Feb 11, 2008 2:19am Feb 11, 2008 2:19am
Quoting MPP
100ema on EU daily were's your's?

i'm running both an mt4 demo and a NF demo but the 100 is 60pips different.

MT4 - 1.4470
NF - 1.4529

anyone know why

Are you sure your settings are the same? Typical HLC, Ema
Just Trade It
  • #338
  • Feb 11, 2008 2:29am Feb 11, 2008 2:29am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
Are you sure your settings are the same? Typical HLC, Ema

checked and checked again, the only thing i can come up with is the 3 hour difference to the day start and the weekend candle on NF, all the charts are out by 1 - 3 pips which i'd expect, but not this many. i would imagine NF is the nearest to actual as there are a broker. 100 at 1.4529 on daily
  • #339
  • Feb 11, 2008 3:03am Feb 11, 2008 3:03am
Quoting Timingy
Hello BWR - I'm a newbie here and am slowly begining to learn/appreciate your strategy. I partcularly like your idea the log and have improvised it for my own strategy which I'm currently using. But having started to learn yours I was wondering if you could post one of your completed logs for a trade. It would help with getting an indea of what the filled in log might look like.

Welcome Timingy,
I cant post one of my logs because that would be my conclusion which might be wrong and lead you into a bad trade. I can fill out examples of how you should fill it out based off of your own conclusions which is better because every trader can only trade for himself.

Trading plan

Date: Pair:


Weekly and Daily Chart: (where are the trendlines, ema's candle stick patterns , what do you see on these charts? where are the weekly and daily fibo's? )





4hr chart: (same as weekly and daily, what do you see on the 4hr chart? Is it above, below or on the 100 or 200?)





1hr chart: (same as above but this is where you really want to look at the fibos from the last waves high and low so you can time your entry )





Support and Resistance: (where are the last major highs and lows and other areas of support and resistance?)





Where is the trend (200)? (are we above or below the 200? On what time frame is the price above or below the 200 opposite of the major trend?





What pattern or wave are we in? ( are we in a flag , head and sholders or some other chart pattern? Are we in an impulsive or corrective wave and what is the best wave count you can see? )





What are the targets? ( Where is your take profit area? Wher do you see this trade going to? Is it a fibo level ? A round number like 1.50 ? Or are you just going to hold it cause it's going to the moon?)



How will you trade this? (what needs to happen first before you get into this trade? Will you go long or short? Or will you wait until you have a better signal or direction? What is your risk% for this trade?)





Results (What was your profit or loss? What did do right or what did you do wrong? What did you learn from this experience to make you a better trader? This part is the most important as you realize what works and what does not work for you. )






Just Trade It
  • #340
  • Feb 11, 2008 3:08am Feb 11, 2008 3:08am
Quoting MPP
checked and checked again, the only thing i can come up with is the 3 hour difference to the day start and the weekend candle on NF, all the charts are out by 1 - 3 pips which i'd expect, but not this many. i would imagine NF is the nearest to actual as there are a broker. 100 at 1.4529 on daily
The hourly is the most accurate chart as every hour starts the same,
My charts are GMT time, If you stay with one time zone then you get used to trading those charts, I don't think any time zone is the most accurate but as long as you stick to one it will be okay.
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