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Daily Cable Analysis

  • #6,301
  • Feb 16, 2007 4:01am Feb 16, 2007 4:01am
Quoting HonaForex
Guys I M not technical strong but i read little of Elliot wave ie it has 5 & 3 wave.On this i study market moment on paper with my pen.......
Well we are in Wave 4 of wave C...........

Wave 1 - 1.9675 to 547 (Truncated) complete 128Pips

Wave 2- 9547 to 9618 complete 71 pips

Wave 3- 9618 to 9475 complete 148 pips

Now we R in wave 4

Wave 4 -9475 + 75 pips = 9550

Wave 5 -9550 + 130 pips= 9420 this is where market goes after US market open & therefore it means US market will create positive effect on market......

Guys wat ur thinking about market .............this how I m seeing the market.


Shivaji.........
Hona Forex
Is there an way for me to learn the basics of the waves - would do you start? I have drawn in your predictions and would like to follow them myself without actually trading. I dont know where to start !! and it is very confusing to me
mama
  • #6,302
  • Feb 16, 2007 4:02am Feb 16, 2007 4:02am
Quoting tathlynq
As noted above I fully expect NEGATIVE US data today but as always I could be wrong! I do believe we will see a bounce from the 1.9470 level to 1.9551 area today but again...this is just one traders opinion based on his charts.
Short
  • #6,303
  • Feb 16, 2007 4:11am Feb 16, 2007 4:11am
Quoting tathlynq
Thanks again for your input, it is very insightful! Before your post I was actually told we were in a wave that matched up closely with yours. I agree with your figures for today since I fully expect NEGATIVE US news yet again today! As always we could be surprised and the figures come in better than expected...... nobody will know until 8:30 AM EST!

Dude wat I learn from last two days is that we have to go in about of Technical Analysis or Fundamental Analysis bcos My calculation are right from 1.9727 to 1.9400,9400 to 9670 & 9670 to 9475 but yet I traded opposite bcos of Economic Indicators but now i believe in my Technical Analysis only bcos the basic Assumption is that everything is reflected in price.............I do not know wat are the Economic Indicator today but they will create positive effect on market for US bcos Wave 5 have to be completed by US news only..................Hey we R Just discovering which is covered, this wat I M seeing under the cover but let us see when US market open.
"Trade for sake of trading & not for winning or Lossing"
  • #6,304
  • Feb 16, 2007 4:12am Feb 16, 2007 4:12am
Quoting Mama007
Hona Forex
Is there an way for me to learn the basics of the waves - would do you start? I have drawn in your predictions and would like to follow them myself without actually trading. I dont know where to start !! and it is very confusing to me
In order to learn how to draw, I suggest you to trade, drawing without trading will normally give you a wrong picture...
I am just here to talk nonsense =D
  • #6,305
  • Feb 16, 2007 4:26am Feb 16, 2007 4:26am
Quoting Zarul Shahrin
In order to learn how to draw, I suggest you to trade, drawing without trading will normally give you a wrong picture...

Okay so where do you start? How do you know where to start from like Wave 1 excetra - do you have to do the course on Elliott Wave? is there a mentor who could show you bit by bit day by day?
mama
  • #6,306
  • Feb 16, 2007 4:28am Feb 16, 2007 4:28am
Quoting Mama007
Hona Forex
Is there an way for me to learn the basics of the waves - would do you start? I have drawn in your predictions and would like to follow them myself without actually trading. I dont know where to start !! and it is very confusing to me

Hey Dude I was very interested in Elliot wave before so I started reading about Elliot wave from Elliotwave International website but i got confused after reading 10 pages & therefore left reading but I M doing now is watching market how it is actually going right now than wat happen in past & writing down every wave from 5 Min chart on paper like student & just seeing how high & low are being formed & then fitting them in to 5 & 3 wave bcos I want simple system & confident to trade thats all & right now i have allready lost 850 USD but I m happy for learning something from market............hey if U have Elliot wave E-book do send me.
"Trade for sake of trading & not for winning or Lossing"
  • #6,307
  • Feb 16, 2007 5:15am Feb 16, 2007 5:15am
Quoting mackaozy
Short
the divergence seen on the chart indicate that a possible long is about to come. so far we can't know exactly when but there is a high probability ,that in the coming day's we will see a move upwards.




not a trade recommendation
Attached Image
  • #6,308
  • Feb 16, 2007 5:26am Feb 16, 2007 5:26am
[quote=mosheber;219735]the divergence seen on the chart indicate that a possible long is about to come. so far we can't know exactly when but there is a high probability ,that in the coming day's we will see a move upwards.

Er, yes of course on the daily!! The conversation was on interday trading.
  • #6,309
  • Feb 16, 2007 5:27am Feb 16, 2007 5:27am
For those of you who are interested I have attached Elliott Wave pdf file. It is a starter for those interested in getting the basics of Elliott Wave. It came from Elliott Wave International Website a friend said. I also have the 112 page pdf for you E.W. gurus, however, have not been able to upload that. I will try it again shortly.

For around $200. a month, you can get updated Elliott Wave International charts on the Cable, Euro, and Mixed Pairs. It is updated throughout the day and accurate. I tried the trial version which lasted 14 days and did not subscribe.
Attached File(s)
File Type: pdf EW Crash Course Downloads.pdf   363 KB | 1,152 downloads
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,310
  • Feb 16, 2007 5:28am Feb 16, 2007 5:28am
Sell EUR/GBP at .6736

_**S**top *is *.6756

Target i*s* .6530

*Risk is *23 pips

*Reward is *200 pips

*RRR is *8.0 to 1*

5th wave on the one day chart.
  • #6,311
  • Feb 16, 2007 5:49am Feb 16, 2007 5:49am
There is strong support at 9480 and all US news has been pretty -ve and I expect this to continue for a while. Therefore I am long at 79 and waiting for the news to confirm weaker $. We are also close to xover on 15 min macd.
  • #6,312
  • Feb 16, 2007 6:30am Feb 16, 2007 6:30am
Thanks a lot, Sami ... wd look forward to the other guide too.
  • #6,313
  • Feb 16, 2007 6:40am Feb 16, 2007 6:40am
Pipseeker,

I tried to upload the file two times and it failed due to the fact that it exceeds the file size (it's 112 pages).

I feel like everyone could really benefit from this manual, so I'm researching further to see how I can post this. I received this manual while taking an Online Training Room.
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,314
  • Feb 16, 2007 6:44am Feb 16, 2007 6:44am
Quoting Sami7
Pipseeker,

I tried to upload the file two times and it failed due to the fact that it exceeds the file size (it's 112 pages).

I feel like everyone could really benefit from this manual, so I'm researching further to see how I can post this. I received this manual while taking an Online Training Room.
Thanks Sami7
mama
  • #6,315
  • Feb 16, 2007 7:04am Feb 16, 2007 7:04am
I was able to email it. If you PM me with your email address, I will try and email it to you. It's 2.19 MB (large). I can't guarantee it will work, however, I'll be glad to give it a shot. I'm also pursing another avenue.

Trading+-+The+Elliott+Waves+Principles.pdf
All hard work brings a profit, but mere talk leads only to poverty.
  • #6,316
  • Feb 16, 2007 8:10am Feb 16, 2007 8:10am
Expect the market to close with a decent up move - maybe beyond 9550... going Long at 9476
  • #6,317
  • Feb 16, 2007 8:12am Feb 16, 2007 8:12am
pipseeker, why do you feel that its going to go up? id like to hear a different perspective on this. thanks.
I dream, therefore I become.
  • #6,318
  • Feb 16, 2007 8:14am Feb 16, 2007 8:14am
And also, would you be posting your stop loss in the 50's area as this is support?
I dream, therefore I become.
  • #6,319
  • Feb 16, 2007 8:22am Feb 16, 2007 8:22am
Quoting mike w
And also, would you be posting your stop loss in the 50's area as this is support?
Yes, Mike, stop just below 9450... basically looking at price action and just now the bounce at 9460 confirmed my hunch.
  • #6,320
  • Feb 16, 2007 8:23am Feb 16, 2007 8:23am
Guys Market have to go 1.95540/60 range to complete the wave 4 where it is acutally oscillating right now but next news Form US will do that...............Untill than market will not be bearish what u feel guys


Shivaji
"Trade for sake of trading & not for winning or Lossing"
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