Daily Cable Analysis | Page 327 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Is it just me or is cable acting random? 49 replies

Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies

CABLE Centurion 16 replies

Cable: Measuring Fibonacci From Where ? 29 replies

Attachments: Daily Cable Analysis
Exit Attachments

Daily Cable Analysis

  • #6,521
  • Feb 20, 2007 4:33am Feb 20, 2007 4:33am
Quoting ahmaddewa85
Hi, i'm newbie How do u calculate the elliot wave in 5m chart? Is there any formula u can share with us? For example in calc pivot we use high low and close, how to calc the wave? Thanks...
You should read some books on the subject, mate. It's very complicated and to master it I think it takes years... I would like to recommend you this great book on the subject: Robert Balan - Elliott Wave Principle Forex. Good luck!
{promo removed}
  • #6,522
  • Feb 20, 2007 5:04am Feb 20, 2007 5:04am
Quoting HonaForex
Lol as per my caluclation we are in wave 2 & in wave 2 A is complete & just B is complete at 1.9515 there i came out of long & entered short 1.9500 with TP 1.9460 which being very impt supp & res line...............lol believe in urself bcos U have having everything wat is requried to win................All the best.
It's like a dream to be able to count waves in m1 and m5 charts correctly. Keep up the good work!
Tra-X
  • #6,523
  • Feb 20, 2007 5:11am Feb 20, 2007 5:11am
this is my chart ..............simple one
Attached Image
"Trade for sake of trading & not for winning or Lossing"
  • #6,524
  • Feb 20, 2007 5:28am Feb 20, 2007 5:28am
Thanx for the chart.

i think it will go down first before taking its journey up. But im still not sure where to put my trade entry.
  • #6,525
  • Feb 20, 2007 6:20am Feb 20, 2007 6:20am
i came out of short at 1.9485..........................with 15 pips cool naaaaa
"Trade for sake of trading & not for winning or Lossing"
  • #6,526
  • Feb 20, 2007 6:29am Feb 20, 2007 6:29am
At the moment i believe Wave 2 was completed in my 1H taking from yesterday GU drop as the initial Wave 1.
  • #6,527
  • Feb 20, 2007 6:43am Feb 20, 2007 6:43am
Quoting karom
At the moment i believe Wave 2 was completed in my 1H taking from yesterday GU drop as the initial Wave 1.
Following this we could expect a rise to the 1.9585 territory, right?
{promo removed}
  • #6,528
  • Feb 20, 2007 6:48am Feb 20, 2007 6:48am
i expect around 1.9565.

But im yet to confirm the UT trend from my MACD 30M and 1H.

im still wait for them to cross to make sure it is as i expect.

What do you think?
  • #6,529
  • Feb 20, 2007 6:48am Feb 20, 2007 6:48am
Quoting ahmaddewa85
Hi, i'm newbie How do u calculate the elliot wave in 5m chart? Is there any formula u can share with us? For example in calc pivot we use high low and close, how to calc the wave? Thanks...
Here is an example of 5 minute counting. Cable Feb 19 about 1:30pm EST. At the time of this snap I was looking for a move down to complete the larger 4th wave [green] in the area of 1.9492 or so. The area of a previous 4th wave of one lessor degree [blue]. Then a move up to the 1.9546 level.
When complete we look for a retracement of the whole wave from the start of green 1.
Good luck.
Count in higher time frames like the 60 min or 4 hr unless you are a scalper.

slick 60
Attached Image
  • #6,530
  • Feb 20, 2007 6:54am Feb 20, 2007 6:54am
Quoting slick 60
Here is an example of 5 minute counting(...)
OMG! Thanks for posting this stuff slick! Looks very complicated for me I didn't know there are so many EW-ers here on FF ) Do you trade only by EW and Fibs? If yes, is it profitable for you? I'm really considering digging deeper into the EW stuff, but I'm not confident enough (yet)... Thanks again!
{promo removed}
  • #6,531
  • Feb 20, 2007 6:59am Feb 20, 2007 6:59am
Quoting slick 60
Here is an example of 5 minute counting. Cable Feb 19 about 1:30pm EST. At the time of this snap I was looking for a move down to complete the larger 4th wave [green] in the area of 1.9492 or so. The area of a previous 4th wave of one lessor degree [blue]. Then a move up to the 1.9546 level.
When complete we look for a retracement of the whole wave from the start of green 1.
Good luck.
Count in higher time frames like the 60 min or 4 hr unless you are a scalper.

slick 60
That's why I only trade at m30 wave count min. But I like to count in m1/m5 too for fun only.
Tra-X
  • #6,532
  • Feb 20, 2007 7:06am Feb 20, 2007 7:06am
[quote=slick 60;222697]Here is an example of 5 minute counting. ....
Thanks for your reply to my question, it is very useful to me as a newbie
Thanks
  • #6,533
  • Feb 20, 2007 8:35am Feb 20, 2007 8:35am
Nice move last night and this morning. Before leaving last night I ran a fibo from 1.9429 - 1.9556. Price hit right on my t/p mark at the 50% fibo of 9492. Another successfu trade with 40 pips banked

I think price is going up now and I placed my long. I have signals telling me to go long on 60 and 4hr chart.
trading on demo is not trading
  • #6,534
  • Feb 20, 2007 8:56am Feb 20, 2007 8:56am
Enzo

Does your method requires contineous stay infront of the monitor to follow up the market and its trend?
  • #6,535
  • Feb 20, 2007 9:05am Feb 20, 2007 9:05am
NO... I dont think I would be normal if that were the case
trading on demo is not trading
  • #6,536
  • Feb 20, 2007 9:08am Feb 20, 2007 9:08am
Wow there is so much resistance from 9546-550. It's going to bust through this thing like a mad man...if it ever does. Well I have to go to the gym now but longs are still riding. talk to you guys soon.

To answer your question though. if I get sick of looking at the screen I just do a SL and TP and go to bed. T/P are usually at the Fibo or emas.
trading on demo is not trading
  • #6,537
  • Feb 20, 2007 9:53am Feb 20, 2007 9:53am
Quoting enzo2325
Wow there is so much resistance from 9546-550. It's going to bust through this thing like a mad man...if it ever does. Well I have to go to the gym now but longs are still riding. talk to you guys soon.

To answer your question though. if I get sick of looking at the screen I just do a SL and TP and go to bed. T/P are usually at the Fibo or emas.
I have watched your system here, and we are right on the verge of opening a new candle above the 200 EMA since the 14th and 15th of Feb.

Should be a nice indication for your Long too remain some time if it does.

I would like to see a new candle open the Hourly at 1.9566 or higher for confrimation.
  • #6,538
  • Edited 10:15am Feb 20, 2007 9:58am | Edited 10:15am
Price has reached the 1.9575, now looking for a retrace to 1.9556 to test the support for this move upward.

New Candle open above the 200 EMA.

Actually looking at the Move upward from 1.9440 on 2/19/07 to the high at 1.9533 there was a 38.2% Retracement on that move.

We just now finished the next Move upward from 1.9491 to the high at 1.9575. The 38.2% Retracement would take price back to 1.9543 which is also the test of the 200 EMA Enzo is watching.

This would also set this support at 1.9543 which is 52 pips higher than the last support up which was 51 pips higher than the support that started the move up at 1.9440.

Prior to this week open, I stated we should see Higher Highs, and Higher Lows, the move down to 1.9429/30 area was a classic and designed move to push the Cable higher this week.

This is on the Hourly Chart!
  • #6,539
  • Feb 20, 2007 10:05am Feb 20, 2007 10:05am
Hey i made chart for U all guys bcos i do my calculation on paper...........well I i have entered at 1.9480 long with stop loss at 1.9460 & take profit at 1.9630 bcos its wave 3 which will be bigger than wave 1 hopefully..............so who all with me .............


Happy trading.....................
"Trade for sake of trading & not for winning or Lossing"
  • #6,540
  • Feb 20, 2007 10:08am Feb 20, 2007 10:08am
It's very intimidating to enter this forum as a newbie - and I mean an absolute know-nothing newbie. It all looks very technical and I don't know if I could learn this stuff before I die (I'm over 21 ) but I'd love to be able to. I can see from reading these columns that there are many different ways of trading forex but could anybody give me a tip as to what would be a good starting point to learn how to do it for a person of average ability.

Cheers
2 traders viewing now