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  • #173,401
  • Dec 17, 2009 5:11am Dec 17, 2009 5:11am
Quoting TaoTrader
Good choice. Nice to see you on here again.
Cheers Tao. I have a bit of time on my hands at the moment in between countries. I never normally bother with December for trading. I'm pleased I did this year.

I'll be back over to your journal which is shaping up nicely. I thought my posts too often might interrupt the flow but I do read it every day. Nice strategy.
Do not focus on making money; focus on protecting what you have.
  • #173,402
  • Dec 17, 2009 5:12am Dec 17, 2009 5:12am
Quoting TaoTrader
This chart is very distorted, but I was able to read the wave counts. However, the chart is completely wrong for the following reasons:

-Wave 2 retraces to 100% of wave 1, effectively rendering this wave useless as a possible wave 2.

-Wave 3 is okay but, only by coincidence.

-Wave 4 does not retrace enough.

-Wave 5 is too long

The other important component you forgot is that you need to be looking at the monthly chart first, then the weekly, then the daily, then finally the four hour chart. I am just trying to be a successful trader...

Yes Sir ! Agreed to for quite a percentage. The reason i ve been used sombody elses chart for the first time is i don't carry my laptop to my office. even though there is a small difference of a wave count, it is quite a probable be to happen.

anyway i shouldn't have post sombody elses chart in prior. thank you for your advice. i will make sure i wll post my chart in future.

YES, it is short in a broad view. probably a free fall in weekly view. but retrace would be possibilty to 1.48xx area /// what do u think ?
Fools Rushing
  • #173,403
  • Dec 17, 2009 5:14am Dec 17, 2009 5:14am
Quoting TaoTrader
I agree, and I apologize for my tone if it has been rude or offensive.
Not at all mate. It's your opinion. And I feel it may have helped some as a warning to take what's popped in here with a very large pinch of salt.
Do not focus on making money; focus on protecting what you have.
  • #173,404
  • Dec 17, 2009 5:17am Dec 17, 2009 5:17am
Quoting grashid
sorry for that..use good mm and be patient...am doing good mate...just trying to add one more at 439 area and so far both of them look as per plan...

Will lock BE+10 soon and leave it to run herself...
just back from meeting..what happen? hit my SL
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  • #173,405
  • Dec 17, 2009 5:19am Dec 17, 2009 5:19am
this could be the low of the week,, hopefully
  • #173,406
  • Dec 17, 2009 5:22am Dec 17, 2009 5:22am
Quoting MTF Test
Yes Sir ! Agreed to for quite percentage. The reason i ve been used sombody elses chart for the fist time is i don't carry my laptop to my office. even though there is a small difference of a wave count, it is quite a probable be to happen.

anyway i shouldn't have post it prior. thank you for your advice. i will make sure i wll post my chart in future.

YES, it is short in a broad view. probably a free fall in weekly view. but retrace would be possibilty to 1.48xx area /// what do u think ?
No problem, just wanted to help. A retrace is always a possibility. But if we are in a wave 3, which I strongly believe now, retracing to the level you mentioned might not happen this early, as this candle is the first in the impulsive downward movement. That is not to say it isn't possible, but I think it unlikely.
  • #173,407
  • Dec 17, 2009 5:23am Dec 17, 2009 5:23am
Quoting Why Oh Why
Not at all mate. It's your opinion. And I feel it may have helped some as a warning to take what's popped in here with a very large pinch of salt.
Thanx. I am regularly following your posts as well.
  • #173,408
  • Dec 17, 2009 5:28am Dec 17, 2009 5:28am
197 Traders Viewing This Thread (62 are members)

EUR/USD seems to be the favourite trading pair for forex traders here.
  • #173,409
  • Dec 17, 2009 5:30am Dec 17, 2009 5:30am
Quoting QuickSilver
I never get emotionally attached to my charts but when it goes up or down I win.

This is just a dip, a real big dip and then its going to power sling up.
if you got 2 charts and they disagree.. would you follow the bigger one or the smaller one. tf wise?
those who can, do. those who cant, talk about those who can
  • #173,410
  • Dec 17, 2009 5:31am Dec 17, 2009 5:31am
Quoting TaoTrader
No problem, just wanted to help. A retrace is always a possibility. But if we are in a wave 3, which I strongly believe now, retracing to the level you mentioned might not happen this early, as this candle is the first in the impulsive downward movement. That is not to say it isn't possible, but I think it unlikely.

Hmm !. quite interesting ! i happend to visit your thread, it's gonna be quite usefull thread for all traders, specially the long term. any way if you post your charts with in the thread that would help us to view your charts properly though.not as a attachement. i may be follower for sure.

TX
Fools Rushing
  • #173,411
  • Dec 17, 2009 5:32am Dec 17, 2009 5:32am
Quoting GastonCorzo
this could be the low of the week,, hopefully
I agree this could be low, 4h tf oversold with bull div, downward move is losing steam, i personally wait 1hr and then 15M tf to get oversold first (in sequence), then long.

Optimal scenario is with 1hr gold and gbp oversold as well with usd/chf overbought AT THE SAME TIME.
They think they are smarter than I am.
  • #173,412
  • Dec 17, 2009 5:32am Dec 17, 2009 5:32am
Quoting QuickSilver
I never get emotionally attached to my charts but when it goes up or down I win.

This is just a dip, a real big dip and then its going to power sling up.
Look closely at the monthly chart, then the weekly, then down to the daily and four hour charts. You may change your position. The fibonacci numbers and wave counts here are undeniable, as welll as the fundamental analysis we have been receiving from around the world.
  • #173,413
  • Dec 17, 2009 5:32am Dec 17, 2009 5:32am
Quoting Driver55
To be a student, you're pretty arrogant. is that the only quality that you've developed so far, or you were born already so?

amazing isnt it..someone watching the chart..throwing insults everyday

one day he will realise that people make mistake due to heavy involvement in the market..emotions cloud sound judgement..when/if he goes live will keep his mouth quite for once when he realise he will make same mistakes..every journey start with a single step
  • #173,414
  • Dec 17, 2009 5:33am Dec 17, 2009 5:33am
Quoting Z3iz3i
I agree this could be low, 4h tf oversold with bull div, downward move is losing steam, i personally wait 1hr and then 15M tf to get oversold first (in sequence), then long.

Optimal scenario is with 1hr gold and gbp oversold as well with usd/chf overbought AT THE SAME TIME.
it has been oversold for 2 weeks
  • #173,415
  • Dec 17, 2009 5:33am Dec 17, 2009 5:33am
Quoting MTF Test
Hmm !. quite interesting ! i happend to visit your thread, it's gonna be quite usefull thread for all traders, specially the long term. any way if you post your charts with in the thread that would help us to view your charts properly though.not as a attachement. i may be follower for sure.

TX
I am trying to figure out how to do that. Could you explain it to me please? Thanx
  • #173,416
  • Dec 17, 2009 5:34am Dec 17, 2009 5:34am
Quoting gatorinla
if you got 2 charts and they disagree.. would you follow the bigger one or the smaller one. tf wise?

depends...but normally its the bigger the better
  • #173,417
  • Dec 17, 2009 5:34am Dec 17, 2009 5:34am
Quoting sibajnok
it has been oversold for 2 weeks
I am intra-day trader...
They think they are smarter than I am.
  • #173,418
  • Dec 17, 2009 5:36am Dec 17, 2009 5:36am
Quoting nAVIN2007
depends...but normally its the bigger the better
what if the smaller one broke a trendline and is now moving opposite direction?
those who can, do. those who cant, talk about those who can
  • #173,419
  • Dec 17, 2009 5:36am Dec 17, 2009 5:36am
Quoting GastonCorzo
this could be the low of the week,, hopefully
I wouldn't bet on it...
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  • #173,420
  • Dec 17, 2009 5:43am Dec 17, 2009 5:43am
Quoting TaoTrader
I am trying to figure out how to do that. Could you explain it to me please? Thanx
Not a problem ,

you save your chart as JPG or GIF formats to your pc. and if you want to edit , use PAINT which easily can find in any formats of opearting systems.

when you replying to your post you will find a button called Attachment . press it , browse your attachement from your pc. and save it as usual.

but the problem is, what charting software you use. there are quite few that you can save a template easily. like MT4.

hope this helps.
Fools Rushing
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