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Elliott Wave Trading

  • #2,441
  • Jun 19, 2009 10:38am Jun 19, 2009 10:38am
Technical analysis and trading technics are two different subjects,

you heard me about the [long] but you didn't listen to [consolidation]
  • #2,442
  • Jun 19, 2009 11:01am Jun 19, 2009 11:01am
Quoting Phi
Technical analysis and trading technics are two different subjects,

you heard me about the [long] but you didn't listen to [consolidation]
OK. So that wasn't the triangle I was looking for. But have we got to the end of c of B yet?
  • #2,443
  • Jun 19, 2009 11:17am Jun 19, 2009 11:17am
I think either is the end of [b] or we're in a new impulse wave to the top.
  • #2,444
  • Jun 19, 2009 11:19am Jun 19, 2009 11:19am
Quoting Phi
I think either is the end of [b] or we're in a new impulse wave to the top.
If we were in a new impulse wave, where was C? I can see A and B.
  • #2,445
  • Jun 19, 2009 12:47pm Jun 19, 2009 12:47pm
I can't find it too! that's why I think the price will go down to at least 1.58 from here.
By the way, I don't know about you but one of my favorite trading technics is [adding] , I wait for signal and open my first position [usually at the beginning of impulse wave] then I add another [usually at the end of corrective wave] and so on. of course I wouldn't mentioned it if it didn't work for me.
  • #2,446
  • Jun 19, 2009 1:07pm Jun 19, 2009 1:07pm
Quoting Phi
I can't find it too! that's why I think the price will go down to at least 1.58 from here.
By the way, I don't know about you but one of my favorite trading technics is [adding] , I wait for signal and open my first position [usually at the beginning of impulse wave] then I add another [usually at the end of corrective wave] and so on. of course I wouldn't mentioned it if it didn't work for me.
Hi Phi, I see what you are saying. I have at most two trades, ie I will add only once. I try to enter at the beginning of the wave and exit at the end before a correction. I will then enter again after the correction. I'm still exploring different trading styles so I would like to learn more about yours.

How long do you hold your trades for?
  • #2,447
  • Jun 19, 2009 1:54pm Jun 19, 2009 1:54pm
As you know, an impulse in a time frame can be the correction in a bigger TF, so on H4 or D1 I'd rather use more volume and less adding & I use trailing stop if the reversal signal occurs, but at the same time I use lower volume & may open and add positions to the opposite direction [hedging] in lower TF like M30 or M15.
  • #2,448
  • Jun 19, 2009 5:45pm Jun 19, 2009 5:45pm
Quoting Phi
As you know, an impulse in a time frame can be the correction in a bigger TF, so on H4 or D1 I'd rather use more volume and less adding & I use trailing stop if the reversal signal occurs, but at the same time I use lower volume & may open and add positions to the opposite direction [hedging] in lower TF like M30 or M15.
My broker does not offer Hedging option any more..

Could you recommend few good brokers who can???

Thanks
Markets are not Random, they are designed!
  • #2,449
  • Jun 19, 2009 6:25pm Jun 19, 2009 6:25pm
Although I can name so many brokers but I'd rather guide you with two options;
1. type something like [top ten forex brokers rating] on Google search and you will find many useful sites to introduce you the details of the best brokers for every kind of trading methods.
2. if you like to continue the relationship with your broker, simply you can open another account and use them both simultaneously!
  • #2,450
  • Jun 19, 2009 8:16pm Jun 19, 2009 8:16pm
pay attention on the eur/gbp when it is near the 0.8250, it is possible that the waveIII(yellow) is at the end and start the wave IV corrrection.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 19 KB
  • #2,451
  • Jun 19, 2009 9:08pm Jun 19, 2009 9:08pm
yes, I'm already on long position with 25pips SL.
  • #2,452
  • Jun 19, 2009 11:21pm Jun 19, 2009 11:21pm
hi all（大家好）！This is my EUR/USD 4H chart
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-6-20 eu4h.jpg Size: 94 KB
you have to be out to be in
  • #2,453
  • Jun 19, 2009 11:22pm Jun 19, 2009 11:22pm
GBP/USD 4H chart1
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-6-20 gu-4h1.jpg Size: 108 KB
you have to be out to be in
  • #2,454
  • Jun 19, 2009 11:23pm Jun 19, 2009 11:23pm
GBP/USD 4H chart2
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-6-20gu-4h2.jpg Size: 93 KB
you have to be out to be in
  • #2,455
  • Jun 20, 2009 1:43am Jun 20, 2009 1:43am
What if ...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd h4.gif Size: 26 KB
  • #2,456
  • Jun 20, 2009 3:07am Jun 20, 2009 3:07am
Quoting Phi
What if ...
Allow the market to verify it
you have to be out to be in
  • #2,457
  • Jun 20, 2009 2:55pm Jun 20, 2009 2:55pm
Quoting Phi
Although I can name so many brokers but I'd rather guide you with two options;
1. type something like [top ten forex brokers rating] on Google search and you will find many useful sites to introduce you the details of the best brokers for every kind of trading methods.
2. if you like to continue the relationship with your broker, simply you can open another account and use them both simultaneously!

Thanks Phi, for your help!!
Markets are not Random, they are designed!
  • #2,458
  • Jun 20, 2009 6:36pm Jun 20, 2009 6:36pm
Quoting Raza
Thanks Phi, for your help!!

BTW.

gbp/Usd 4HR.. Looks like a Bearish Triangle... not a Coiling triangle.. like we had earlier..

Agree with PHI's Scenario... better yet Trade the Break outs.
Markets are not Random, they are designed!
  • #2,459
  • Jun 21, 2009 2:39am Jun 21, 2009 2:39am
Now it's your turn
Which book do you recommend for Market Geometry?
  • #2,460
  • Jun 21, 2009 3:16am Jun 21, 2009 3:16am
Quoting Phi
Now it's your turn
Which book do you recommend for Market Geometry?
Its not Geometry that is important..

Its the pcsycology behind it. Then we follow waves, Trends, Candlesticks.. etc.. to make sense out of it.

The one I am presently reading is ..Trade Your Way To Financial Freedom.. by VAN K. THARP.. its interesting!
Markets are not Random, they are designed!
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