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Harmonic Wave Journal

  • #41
  • Apr 12, 2007 9:29am Apr 12, 2007 9:29am
Opportunity #G4/07
GBP/USD Short
2 parts
Entry: 1.9800
Stop (initial): 1.9818

Mini wave 3 (or C?) down.
Tra-X
  • #42
  • Apr 12, 2007 9:34am Apr 12, 2007 9:34am
Opportunity #C1/07
USD/CAD Long
2 parts
Entry: 1.1360
Stop (initial): 1.1320

End of wave 3 or C down? Hit 61.8% fibo of previous big wave C (1.1029 - 1.1875) up.
Tra-X
  • #43
  • Apr 12, 2007 9:46am Apr 12, 2007 9:46am
Opportunity #E2/07
EUR/USD Short
2 parts
Entry: 1.3501
Stop (initial): 1.3541

Psychological point at 1.3500. Still possible end of wave 5 up (lol).
Tra-X
  • #44
  • Apr 12, 2007 11:06am Apr 12, 2007 11:06am
Opportunity #G4/07
GBP/USD Short
2 parts
Entry: 1.9800
Stop (initial): 1.9818

Mini wave 3 (or C?) down.

Update 1: S/L tightened to 1.9813 (guarantees -13).
Tra-X
  • #45
  • Apr 12, 2007 11:07am Apr 12, 2007 11:07am
Opportunity #E2/07
EUR/USD Short
2 parts
Entry: 1.3501
Stop (initial): 1.3541

Psychological point at 1.3500. Still possible end of wave 5 up (lol).

Update 1: S/L tightened to 1.3506 (guarantees -5).
Tra-X
  • #46
  • Apr 12, 2007 12:44pm Apr 12, 2007 12:44pm
Today's recap:
EUR/USD is a champion today. It pushed thru yesterday's high then made it to the psychological 1.3500, and another possible end of wave 5 (again and again, getting abit tired of it now).
Cable followed but was stalled at the 'umbrella' trendline. Possible start of subwave 3 or C down for cable.
GBP/JPY fell today but it's still possible it'll make new high again before diving deep.
USD/JPY might have started final wave 5 up now for current trend starting from 116.36 low.
Tomorrow might be a big mover for the majors. Let's see.
Tra-X
  • #47
  • Apr 12, 2007 10:41pm Apr 12, 2007 10:41pm
Opportunity #G4/07
GBP/USD Short
2 parts
Entry: 1.9800
Stop (initial): 1.9818

Mini wave 3 (or C?) down.

Update 1: S/L tightened to 1.9813 (guarantees -13).
Update 2: Asian session again! Got stopped out at 1.9813 (-13 x2).

Total gain: -26
Tra-X
  • #48
  • Apr 12, 2007 10:42pm Apr 12, 2007 10:42pm
Opportunity #E2/07
EUR/USD Short
2 parts
Entry: 1.3501
Stop (initial): 1.3541

Psychological point at 1.3500. Still possible end of wave 5 up (lol).

Update 1: S/L tightened to 1.3506 (guarantees -5).
Update 2: Got stopped out at 1.3506 (-5 x2).

Total gain: -10
Tra-X
  • #49
  • Apr 12, 2007 10:45pm Apr 12, 2007 10:45pm
Good cut, forget the cheese, watch out for the mouse trap.
Still waters run deep
  • #50
  • Apr 13, 2007 12:33am Apr 13, 2007 12:33am
Quoting barak
Good cut, forget the cheese, watch out for the mouse trap.
Well, you can run but you can't hide.

Anyway, apparently USD/JPY is still in subwave (orange) 4 down, maybe will end soon. Final subwave 5 might follow after, targetting above 120 mark.
Attached Image
Tra-X
  • #51
  • Apr 13, 2007 12:46am Apr 13, 2007 12:46am
Given good MM to sustain a fall to 110, i'd rather hold this with carry swap (U/J) than waiting for EUR to hit 1.3570 (S/L if any). Guess we can't have our cheese and eat it at the same time, lol.
Still waters run deep
  • #52
  • Apr 13, 2007 12:59am Apr 13, 2007 12:59am
Opportunity #J1/07
USD/JPY Long
2 parts
Entry: 118.68
Stop (initial): 118.28

Subwave 5 up.
Tra-X
  • #53
  • Apr 13, 2007 2:13am Apr 13, 2007 2:13am
Quoting Traex
Today's recap:
EUR/USD is a champion today. It pushed thru yesterday's high then made it to the psychological 1.3500, and another possible end of wave 5 (again and again, getting abit tired of it now).
Cable followed but was stalled at the 'umbrella' trendline. Possible start of subwave 3 or C down for cable.
GBP/JPY fell today but it's still possible it'll make new high again before diving deep.
USD/JPY might have started final wave 5 up now for current trend starting from 116.36 low.
Tomorrow might be a big mover for the majors. Let's see.
Euro the Champion ? .............
Attached Image (click to enlarge)
Click to Enlarge Name: EUR0-02-25-07-1.jpg Size: 57 KB
  • #54
  • Edited 2:59am Apr 13, 2007 2:19am | Edited 2:59am
Here we are today

Eur/Usd ( Weekly Bars )............... Moving along and exhausting itself .

Good Luck picking the Top of wave 5..........

--------------------------------------------------------------
Attached Image (click to enlarge)
Click to Enlarge Name: EUR0-04-13-07-2.jpg Size: 71 KB
  • #55
  • Apr 13, 2007 2:52am Apr 13, 2007 2:52am
Pg/3 ..............EUR/USD ( Daily Bars )
Here is the last of what I see that's probably going on

The Euro is blasting out of a solid Inverted Head & Shoulder Formation
- It doesn't matter if you believe it or not

What matters is trying to find the Top to go Short in this environment
could be a problem for your trading account ..........

Again ,Good Luck finding the Top .....

//////////////////////////////////////////////////////////////////////

Maybe its its best to leave this one alone for now and wait for Divergence
to start to occur on the Longer - Term charts Daily or Weekly charts .

------------------------------------------------------------
Marketwavez - Humble Student of the Elliott Wave
Attached Image (click to enlarge)
Click to Enlarge Name: EUR0-04-13-07-1.jpg Size: 72 KB
  • #56
  • Apr 13, 2007 3:31am Apr 13, 2007 3:31am
Decided to get out of all markets today, USD index plunged below key support levels already!

Last 2 trades:
USD/CAD Long closed at 1.1355, total gain: -10
USD/JPY Long closed at 117.64, total gain: -8
Tra-X
  • #57
  • Apr 13, 2007 3:48am Apr 13, 2007 3:48am
Quoting Traex
Decided to get out of all markets today, USD index plunged below key support levels already!

Last 2 trades:
USD/CAD Long closed at 1.1355, total gain: -10
USD/JPY Long closed at 117.64, total gain: -8
Hi Can you please post the chart of US index...

Thanks
  • #58
  • Apr 13, 2007 3:55am Apr 13, 2007 3:55am
Quoting macd
Hi Can you please post the chart of US index...

Thanks
http://quotes.ino.com/chart/?s=NYBOT_DX&v=dmax

That's the chart link.
Tra-X
  • #59
  • Apr 13, 2007 11:32am Apr 13, 2007 11:32am
Today's recap:
What a volatile day on this Friday the 13th. Didn't do well with the EW trades but did well with scalps lol (over 100 pips in scalps today).
EUR/USD made a new high (again!!). Looks like it's weakening tho, next week it might hit new high and then fall.
Cable also made new high and the pattern now shows it's making an ending diagonal subwave 5 up (?). A re-count for this pair.
USD/JPY really went up as subwave 5! But it went down first and would have blown my S/L if I didn't close it earlier. Oh well.
GBP/JPY has hit 78.6% retracement of big wave A down (241.XX - 221.XX) at 237. It might hit another new high again in a final rally (mini mini wave) before falling.
This weekend is the G7 meeting. No trade is open for the weekend, looking for gaps next week.
Enjoy your weekend everyone.
Tra-X
  • #60
  • Apr 14, 2007 7:21am Apr 14, 2007 7:21am
Weekly review:

Trades closed = 9
Winning trades = 5, total gain = +291
Losing trades = 4, total loss = -54
Net gain this week = +237 (approx. +8% of capital)
Successful wave-riding so far (capturing at least 50% of wave) = 0

No trade is carried forward to next week.
Tra-X
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