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Daily Cable Analysis

  • #7,861
  • Mar 13, 2007 6:52am Mar 13, 2007 6:52am
Quoting katzenhai2
@HonaForex:
Your wave count seems wrong, because Wave 3 is always the longest. 3 and 4 in your chart looks more like wave 1 & 2 and number 5 looks like wave 3, correction A looks like Wave 4.
Wave 3 is not necessarily the longest, but it can't be the shortest among 1, 3, and 5. From hona's chart, his wave 2 exceeded the start of wave 1, hence it's a wrong count indeed. Just my opinion.
Tra-X
  • #7,862
  • Mar 13, 2007 6:59am Mar 13, 2007 6:59am
I have learned it is the longest (there are several elliot wave count-modifications in the wild). You are right, his wave 2 exceeded the start of wave 1.
  • #7,863
  • Mar 13, 2007 7:11am Mar 13, 2007 7:11am
Covered my short at 9297. +30. Support around 23.6 fib shook me out. Looking for a long in 9260 area or another short in 9330 area.
  • #7,864
  • Mar 13, 2007 7:33am Mar 13, 2007 7:33am
Quoting katzenhai2
@HonaForex:
Your wave count seems wrong, because Wave 3 is always the longest. 3 and 4 in your chart looks more like wave 1 & 2 and number 5 looks like wave 3, correction A looks like Wave 4.

For a long in one hour chart is could be either a wave downmove or a correction pattern, I'm not sure yet. Downmove would indicate a longer Wave 3 down, correction would indicate its a new long needed for B up. But I have some problems with these ABC correction movement counts, so I'm not sure about that.

On the other side, it could a failed wave 5 down and its now moving up for a correction. Welcome in the wonderful world of the not-so-sure-countable elliot wave patterns.
Thanks for ur time on above chart.............Well wat u told about labelling holds when wave is impluse wave & for daigonally wave its opposite..............Well Elliot wave is all about unfolding wave before it gets unfold,every day is not sunday so does our unfolding & its contianous learning process ..............lol my target has hit .............happy trading
"Trade for sake of trading & not for winning or Lossing"
  • #7,865
  • Mar 13, 2007 7:36am Mar 13, 2007 7:36am
Lol i hit my target & i got my 35 pip...............also i m short at 19320...........all the best
"Trade for sake of trading & not for winning or Lossing"
  • #7,866
  • Mar 13, 2007 7:46am Mar 13, 2007 7:46am
Quoting Traex
Wave 3 is not necessarily the longest, but it can't be the shortest among 1, 3, and 5. From hona's chart, his wave 2 exceeded the start of wave 1, hence it's a wrong count indeed. Just my opinion.

Lol wave 1 started at 329 & wave 2 end at 328 in my chart (Interbakfx) picture is not clear there4 U have problem in counting on my chart...............
"Trade for sake of trading & not for winning or Lossing"
  • #7,867
  • Mar 13, 2007 7:50am Mar 13, 2007 7:50am
Lol wat ur chart says next now..............will it go up or down................Thanks in advance
"Trade for sake of trading & not for winning or Lossing"
  • #7,868
  • Mar 13, 2007 7:59am Mar 13, 2007 7:59am
7:00pm USDRetail Sales m/m http://www.forexfactory.com/images/m...act_medium.gif0.1%
0.3%0.2%http://www.forexfactory.com/images/m...us_revised.gif
http://www.forexfactory.com/images/m...l_analysis.gif 7:00pm USDCore Retail Sales m/m http://www.forexfactory.com/images/m...mpact_high.gif-0.1%
0.3%0.3%
http://www.forexfactory.com/images/m...l_analysis.gif

Yet market is not in mood to go up, well it has attempted twice to go Up & failed at 323 first resistence & 325 still waiting another strong resistence................if market passes 9329 than my count goes wrong..........
"Trade for sake of trading & not for winning or Lossing"
  • #7,869
  • Mar 13, 2007 8:07am Mar 13, 2007 8:07am
Quoting HonaForex
Lol wat ur chart says next now..............will it go up or down................Thanks in advance
Probably we're in mini mini wave C of mini wave 2. 50% fib of mini wave 1 (1.9342) has been hit now. 61.8% is at 1.9363 and 78.6% is at 1.9394. Let's see where it'll retrace to.
Tra-X
  • #7,870
  • Mar 13, 2007 8:40am Mar 13, 2007 8:40am
Quoting Traex
Probably we're in mini mini wave C of mini wave 2. 50% fib of mini wave 1 (1.9342) has been hit now. 61.8% is at 1.9363 and 78.6% is at 1.9394. Let's see where it'll retrace to.
lol I was in hurry lost the big move & also lost 20 pips which i was short............................there is lot to learn...........failure r best teacher............hey u r making nice pips haaaaaaaaaaaaaa..............keep it up
"Trade for sake of trading & not for winning or Lossing"
  • #7,871
  • Mar 13, 2007 8:47am Mar 13, 2007 8:47am
Quoting HonaForex
lol I was in hurry lost the big move & also lost 20 pips which i was short............................there is lot to learn...........failure r best teacher............hey u r making nice pips haaaaaaaaaaaaaa..............keep it up
Nah I didn't take long lol. Only yesterday for scalp purpose.
Tra-X
  • #7,872
  • Mar 13, 2007 9:11am Mar 13, 2007 9:11am
Quoting Traex
Nah I didn't take long lol. Only yesterday for scalp purpose.
Lol i do not believe that u have taken long..............ok i came to know why u have taken risk bcos u have had send me PM about ur performance ......watching the game lol heheheh Enjoy it
"Trade for sake of trading & not for winning or Lossing"
  • #7,873
  • Mar 13, 2007 9:12am Mar 13, 2007 9:12am
Quoting Traex
Probably we're in mini mini wave C of mini wave 2. 50% fib of mini wave 1 (1.9342) has been hit now. 61.8% is at 1.9363 and 78.6% is at 1.9394. Let's see where it'll retrace to.
I´m with you on this.....for me a triple C wave.....confused correctional C.

The bounce of yesterdays low was 81 pips, this morning´s low +81 pips is 9352 - high so far 9353. Also, there is now a lower high on the 5 min, so perhaps this correction is finished and it will carry on down.

IMO it depends more on what happens to GBP/JPY - Yen still seems to be leading cable.
Trading Levels with WRBs
  • #7,874
  • Mar 13, 2007 9:34am Mar 13, 2007 9:34am
Don't think so. Thats no downwave, its an ABC correction going higher and there a new forming upwave 3 in progress. :
  • #7,875
  • Mar 13, 2007 9:48am Mar 13, 2007 9:48am
Quoting katzenhai2
Don't think so. Thats no downwave, its an ABC correction going higher and there a new forming upwave 3 in progress. :
I love read that :-)
  • #7,876
  • Mar 13, 2007 10:17am Mar 13, 2007 10:17am
I see it like this:
4hour:
http://img259.imageshack.us/img259/1...sd4hourjs3.jpg

Daily:
http://img259.imageshack.us/img259/7...sddailyju3.jpg

In weekly and monthly it supports lower targets, but thats some time ahead and not yet.

Quoting dswk
I love read that :-)
Problem is: Don't become emotionally of what others has to say. I could be totally wrong.
  • #7,877
  • Mar 13, 2007 10:19am Mar 13, 2007 10:19am
Quoting katzenhai2
Don't think so. Thats no downwave, its an ABC correction going higher and there a new forming upwave 3 in progress. :
For me, all I´ve seen since the end of February have been Yen driven, impulsive falls, followed by creeping, confusing corrections. Yesterday was a classic impulsive 5 wave drop on 5m / 15m TFs....again, so far, followed by a creeping correction that hasnt even made the 62% retrace. I dont, so far, see an impulsive W3 in this move.

Last week had the narrowest range of the year so far....let´s hope that volatility returns to normal soon and gives us some consistant action.

Trading Levels with WRBs
  • #7,878
  • Mar 13, 2007 10:28am Mar 13, 2007 10:28am
Quoting Islander
Yesterday was a classic impulsive 5 wave drop on 5m / 15m TFs
You mean this sharp downmove from 9430 to 9250? Then the Wave 4 would be higher than Wave 1. Strange elliot count...
  • #7,879
  • Mar 13, 2007 10:32am Mar 13, 2007 10:32am
lol, everyone can have their own wave count. It doesn't really matter, imo what matters is how we trade the wave count properly, putting proper s/l, protecting capital, and locking in profits just in case something goes wrong with the count.
Good luck to all wave counters.
Tra-X
  • #7,880
  • Mar 13, 2007 10:37am Mar 13, 2007 10:37am
Quoting Traex
lol, everyone can have their own wave count.
Sure, but there are some guidelines how waves are unfolding. If these are not respected, how could anyone count anything at all.

Most of the time its easier to say in which wave we are not instead of the correct wave.
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