Elliott Wave Counting with EG

Cable

Placing 2 long trades just in case above scenario plays out.
1.5957
1.5956


Only 2 Long trades against the 3 still live short trades.

if above scenario plays out
- I get to profit a bit while having a bigger temporary drawdown. But should it go further up, then at least the potential loss would be smaller.

if original scenario pans out
- then total loss or temporary drawdown will be reduced.

EG

usd/jpy,,,,,,,,,,

http://i38.tinypic.com/2lcg1u.jpg



http://i37.tinypic.com/2ir6erp.jpg

Gbp$

http://i35.tinypic.com/2l7rpf.jpg

Eur$


http://i34.tinypic.com/2ryprbb.jpg

$cad


http://i35.tinypic.com/fbhnpy.jpg

UPDATE


http://i37.tinypic.com/25i67pd.jpg

http://i33.tinypic.com/ruxnpw.jpg

Update


http://i35.tinypic.com/4q6g6t.jpg


http://i37.tinypic.com/2drvpqg.jpg

Thank you Vincy

EG

My platform is not working and honestly .... I am blind with out my charts and tweaks I made on it. Although some of the charts I posted here should have helped, I was not able to take advantage of that drop in Cable when the news came out.

Although I was able to exit 1 short trade for 22 pips and right now I am stuck with 2 short trades and 2 long trades for a total drawdown of 229 pips. Either way it goes, drawdown is the same. I will only exit or make any new trades once I see my charts again.

As I mentioned last night I had 3 short trades and made 2 long trades before I went to bed. More bias down but saw the possibility of a temporary up move. Well.... that worked for me reducing the drawdown from 400+ down to 229.

In my early years of trading, I would have kept adding trades both ways as I get in a state of panic and desperation until I would wipe out my account again and again.

Anyway, for the whole of September, account balance would have earned less than 100% if I closed the account by month end. but as of now with that slight recovery.... it is up 116% Net of current drawdown. That means 100%(Month start) + 116% (Net Profit - 38x my minimum target). Still not bad compared to my target of 3% per month.

My point here is that
- one does not really have to trade everyday.
- in time and with experience, I believe that one can manage its account and trade using a twist with their SLs. although my SL would actually be my hedge and usually I would set large SLs to allow my wrong trades to recover or reduce the losses.
- I suppose that is where we cultivate discipline and control over our trades. and not allowing our trades to control us or our emotions.

*** This means most start up traders must really spend more time demo trading first and will gain a lot of benefit studying, comparing and analyzing, and maybe hundreds or thousands of hours chart watching.

I am starting anew with 833pip worth of capital for Cable (like I always do at the beginning of the month) as this is what I just trade.

then we will see how I will do again on this month.

Still have a minimum objective of 3% per month fund growth.

Good Trading Everyone


EG

There are 2 ways to work around working with large SLs Stop Losses on LIVE Trades.

1. The first is to use a very low leverage so that 100-500 pip stop losses will not hurt that much on a small capital. Like a 1:1, 5:1, 10:1

2. The 2nd would be to use nano or micro lots ensuring that you have SLs of 500pips per trade and budgeting your capital to allow you to trade. 10 or mor times this way. But not simultaeniously.

of course this must also include a proper education and a lot of demo trading until you develop a consistently winning strategy prior to LIVE trading.

EG:

Ichimokos…

See

Xx Correction Carefully..

In 4 hour chart It is Upon the Melti Crossover Support..

Daily .. on the Support of Senkou Span B..

In weekly On Senkou Span A…

of 0.618 Fhi..



HARMONIC



here Harmonic see


The Cisco Chart...

Hey in Ending DT We can see two Harmonic patter..

Now I see the BAT... As well The 3d Bearish...

Because The Bat would be wide and On 4 and 5 wave We Can also See the 3 D Bearish Formation...


See Cisco.





CISCO.. we Creat the Nxt Gen




ending Dt

http://i33.tinypic.com/sys760.jpg


Cisco...

Update Usd/jpy

Descending Triangle Wave 3-3-3-3-3







http://i35.tinypic.com/728sw9.png
http://i37.tinypic.com/34jdssi.png

Vincy ... man plz resize your charts... I dont know ... you might be using a 52 inch monitor ... but my laptop screen is only 17 inch wide ... and I cannot view the forum ... its really hurting .. rather helping ...
Would you be plz kind enough to resize your charts like everybody else do?
I will really appreciate it.

Thanks.

Vincy, if you did not include your original chart which was already maxed, then maybe this will not go over the limit of most of the members' screen.

Posting your charts here will become ineffective as no one will want to view them due to it being over size.

I just found out that you can actually resize your chart types in the edit section if you are attaching it as a quote.

click on the actual chart in the edit box and place the cursor at a corner ( until you see a diagonal arrow and not an UP or Down arrow ) and then drag it diagonally to the left and the chart becomes smaller. But that is if the actual chart is attached to the text.

But if you use the "Manage attachments" then you have to reize the chart using a graphics software or you can try saving it as a GIF file instead of a JPG or BMP.

EG

the nsdak


61.8% fhi.. it also can be Faluir Until It Should give Above of 1846.90 level..


and Please make me know

Are you seeing My Chart Wide Or Normal...

http://i35.tinypic.com/2u5szn7.jpg

So you are suggesting making new high on nasdaq in this way C?

Vincy your chart now looks better than the previous ones, but you should save your charts as gif or jpeg.. and you will not have to worry about how they look on the forum ... I never resize my charts, the "Manage Attachment" automatically resize the charts ... as I save them as gif or jpeg.

And thank you for making the effort of resizing your charts.

Cable_100509

This is how I am tracing the EW on one of my Cable Monthly charts ( One of the POTENTIAL wave count )

I have used the trendline tool instead of the actual labels in most instances but differentiated them using colors as the labels tend to overlap a lot making the Long term charts too messy. Labels will be placed whenever it does not interfere with visuals. Colored lines are far easier to rectify than the labels.

Anyway, monthly shows possible complete 123 down and the 4 is the one which is in development.

This 4 though has been a challenge as the structure was more like a motive wave
- it could then be a reversal already and that means the previous 123 was actually an ABC. However, if I use the guideline for projecting C using A, the maximum would only be A(1.618) and as you will see on the fire red FIB Extention tool…. “C” end was at FE 361.8 approxtly 1.3500

So I would have to consider it as 123 and not ABC. Therefore the wave development from 1.3500 up to where it is now most likely is a 4 development.

The question now is what type of a 4 is in development? And is it over now which means is it going down again for the 5?

First the structure of the potential 4. I initially considered this as A or 1 then B or 2 Then 3 or C.

When C became more than A(1.618), I should have flatly rejected the ABC and went for 123. But the way I saw the wave structure of the A or 1 was only a 3 wave structure so it had to be an A. Then I tried looking at the complex wave guidelines to make the whole move UP as a complex 4 so that the Guideline for A or 1 then B or 2 and C or 3 would be superceded.

To overcome this dilemma, I checked the lower time frames and traded from there and set aside the monthly wave count . There is no point in forcing a wave count as a rule. PERIOD!!! I need to remind myself this still.

If by going down the lower timeframes, the waves are still unclear, then there are other tools one can use to analyze market price.

EWA like any other technical Indicator will not always provide you an idea of where the price will have a high probability of going. But it you use other tools, then you could have a better idea than just relying on EWA alone.


I have also drawn a monthly Resistance trendline on the chart.
4 is allowed to retrace 3 for a maximum of 61.8%.
If price goes beyond this, then there is a higher probability that price will continue to go up and that means GBP will be performing better than the USD. And Cable will not be going lower than the previous low of 1.3500

Notice that there are 2 big identical sized boxes on the chart. In terms of TIME, 4 is expected to develop longer than 2. wave 4 development may also be viewed in terms of time it took wave 0-3 developed.
I would think that it is possible for 4 to develop longer than the time it took w0-3 to develop for as long as price does not exceed 61.8% retracement of 3.

EG

Cable

Weekly

The weekly count for me is in a mess. Or I just can’t figure it out.

So I will move on to the next lower time frame which is on the daily.

If ever 3 Purple is already finished in the weekly, then I would be looking at 4 Purple to finish down between 38.2-50% retracement of 3 Purple because 2 Purple retraced 1 Purple more than 61.8%

At this point, proposed 4 Purple has retraced 3 Purple by 38.2%
This creates C=A (nearly for the 4 Purple or 4a Purple.

Now why 4a Purple? It is again possible that 4 Purple will be expanding as a correction because 2 Purple seemed too short in development compared to if we label this now as just 4 Purple.


EG