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Elliott Wave Trading

  • #2,781
  • Jul 14, 2009 11:32am Jul 14, 2009 11:32am
Quoting tazzam72
Tp on the 4H at 1.618 Fib EXT(11374) and Max @2.618 Fib Ext (11190)

Closed my Trade for now at the first TP 1.618 Fib Ext (11374) ( 180 Pips profit not bad ), I will wait for the retracement " wave 4" If all signs still showing strong downtrend I will enter short again to 2.618 Fibo (11190)
  • #2,782
  • Jul 14, 2009 4:27pm Jul 14, 2009 4:27pm
Quoting tazzam72
Closed my Trade for now at the first TP 1.618 Fib Ext (11374) ( 180 Pips profit not bad ), I will wait for the retracement " wave 4" If all signs still showing strong downtrend I will enter short again to 2.618 Fibo (11190)
Very good trade tazzam, congrats! I can tell you are very proud of your baby Advanced get too

So you mainly do position trading rather than day trading? How do you place protective stops for the overnight positions?
  • #2,783
  • Jul 14, 2009 5:52pm Jul 14, 2009 5:52pm
Quoting ridingwaves2
Very good trade tazzam, congrats! I can tell you are very proud of your baby Advanced get too

So you mainly do position trading rather than day trading? How do you place protective stops for the overnight positions?
Hi Riding ,

Yes, I always look at the 4 H chart if I see any possible trade for type type 1 ( wave 4 to 5) or type 2 trade( contra wave trend possible future wave 2 to 3 ) , I switch to the daily chart to make sure that daily showing the same trend. I may use the hourly chart to jump in little early. I will not jump in a trade if my risk more than target profit , so if i am risking 100 pips my target should 300 , I put my SL above the high if i am selling and under the low if i am buying , and use 100 to 150 trailling stops .
Last week I made little over 400 pips Sell Euro/JPY ( Using 150 pips trailling stops), Most of my trades stays pen for 3 or 4 days.

Advanced get is a great software i like it a lot , FYI i did blow 2 forex account before using advanced get from little over 3 years ago , I was using small time frame 5 &15 even 1H , I did not know much about forex .

The software have tons of trading tools , I only use 3 or 4 max for now( what shows on the cd that came with the software), once i have time I will go to one of their seminor to learn how to use other trading strategy ,
  • #2,784
  • Jul 14, 2009 8:23pm Jul 14, 2009 8:23pm
if I may ask what's the relationship between the software and long term trading strategy?
  • #2,785
  • Jul 14, 2009 9:00pm Jul 14, 2009 9:00pm
Quoting Phi
if I may ask what's the relationship between the software and long term trading strategy?
Hi Phi

What do you mean?
  • #2,786
  • Jul 14, 2009 9:16pm Jul 14, 2009 9:16pm
Possible setup to short the USD JPY if confirm , Let us see
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Daily USD JPY 56.png Size: 45 KB
Click to Enlarge Name: weekly USD JPY 55.png Size: 39 KB
Click to Enlarge Name: 4HH USD JPY 57.png Size: 34 KB
  • #2,787
  • Jul 14, 2009 10:04pm Jul 14, 2009 10:04pm
DJones break the channel on 4 H
possible Up to 8500


Daily showing a nice set up no confirmation yet , if confirm DJ will reach 9337 BUT neet to break the blue channel first look at the chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DJones 4 H h 59.png Size: 36 KB
Click to Enlarge Name: DJones n Daily 60.png Size: 41 KB
  • #2,788
  • Edited 11:40pm Jul 14, 2009 11:15pm | Edited 11:40pm
Quoting tazzam72
Hi Phi

What do you mean?
I mean the software works only with higher time frame or it can be used for lower TF as well.
by the way I'm really enjoying your counts no matter what they turn out!
  • #2,789
  • Jul 15, 2009 12:01am Jul 15, 2009 12:01am
hi all,

my eur/usd chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h4.gif Size: 15 KB
  • #2,790
  • Jul 15, 2009 1:59am Jul 15, 2009 1:59am
Quoting Phi
I mean the software works only with higher time frame or it can be used for lower TF as well.
by the way I'm really enjoying your counts no matter what they turn out!
Yes works on anytime frame , But i have a fulltime job can't sit infront of my pc 24/7 .
  • #2,791
  • Jul 15, 2009 2:37am Jul 15, 2009 2:37am
Quoting tazzam72
Yes works on anytime frame , But i have a fulltime job can't sit infront of my pc 24/7 .
About breaking out the blue line; if price breaks out horizontally (sideways) , does it change software's forecast layout? for example weekly DJIA chart that you've mentioned.
  • #2,792
  • Jul 15, 2009 3:05am Jul 15, 2009 3:05am
Hello, this is my count for EU and GU, tell me what you think ...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU H4.GIF Size: 44 KB
Click to Enlarge Name: GPBUSD H4.GIF Size: 41 KB
  • #2,793
  • Jul 15, 2009 3:39am Jul 15, 2009 3:39am
5min chart...
Attached Image (click to enlarge)
Click to Enlarge Name: eu elliot2.gif Size: 12 KB
  • #2,794
  • Jul 15, 2009 5:31am Jul 15, 2009 5:31am
nice h&s ..bull in action nw
Attached Image (click to enlarge)
Click to Enlarge Name: eu elliot3.gif Size: 13 KB
  • #2,795
  • Jul 15, 2009 6:54am Jul 15, 2009 6:54am
Quoting tazzam72
Hi Riding ,

Yes, I always look at the 4 H chart if I see any possible trade for type type 1 ( wave 4 to 5) or type 2 trade( contra wave trend possible future wave 2 to 3 ) , I switch to the daily chart to make sure that daily showing the same trend. I may use the hourly chart to jump in little early. I will not jump in a trade if my risk more than target profit , so if i am risking 100 pips my target should 300 , I put my SL above the high if i am selling and under the low if i am buying , and use 100 to 150 trailling stops .
Last week I made...
Thanks tazzam. You've got a good tool and obviously you know how to use the tool properly with your knowledge and experience. Some day you may label the waves even better than the software

I will gradually do more position trading as well.

Happy trading
  • #2,796
  • Jul 15, 2009 7:37am Jul 15, 2009 7:37am
eu chart update..
Attached Image (click to enlarge)
Click to Enlarge Name: eu elliot4.gif Size: 14 KB
  • #2,797
  • Jul 15, 2009 10:02am Jul 15, 2009 10:02am
Quoting Phi
About breaking out the blue line; if price breaks out horizontally (sideways) , does it change software's forecast layout? for example weekly DJIA chart that you've mentioned.

after break i buy when the next bar break the high ( the first break out bar.)
  • #2,798
  • Jul 15, 2009 11:13am Jul 15, 2009 11:13am
Quoting tazzam72
Closed my Trade for now at the first TP 1.618 Fib Ext (11374) ( 180 Pips profit not bad ), I will wait for the retracement " wave 4" If all signs still showing strong downtrend I will enter short again to 2.618 Fibo (11190)

Did not retrace to jump back in for the 2nd TP
  • #2,799
  • Jul 15, 2009 7:56pm Jul 15, 2009 7:56pm
DJones 4 H hit TP

Daily see chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DJones 4 H 7 15 Daily 61.png Size: 31 KB
Click to Enlarge Name: DJones daily 7 15 Daily 62.png Size: 48 KB
  • #2,800
  • Jul 15, 2009 9:58pm Jul 15, 2009 9:58pm
Eur USD 4 h

I see new wave count on my 4 H chart , Possible buy trade if price break 14138 , TP 14274

will try to use 1H chart for better entry
Attached Image (click to enlarge)
Click to Enlarge Name: EUR USD 240 63.png Size: 44 KB
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