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The Ultimate Fallacy in Technical Analysis 99 replies
"Technical Analysis Fallacy" thread people, I need your help 54 replies
Technical Analysis Fallacy Redux 23 replies
Statistical analysis fallacy 33 replies
DislikedNice job Rob,
you are on track and u know what u r doing.........
i can only say its a Marathon not a 100 m sprint....so first lets create the stamina to run the marathon,....
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DislikedGood post and thanks Rob. Yes overnight in Australia would be the late London and New York session. Often big moves during those times. Dangerous not to be around. All the best with your trading journey. RayIgnored
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DislikedHi..
I have still long way to go understanding the concept.
I just read up to this page and I need to know the wave structure.
I never know there is a wave ABCDEF in elliot wave.
As far as I know, there are only ABC retracement waves.
Can someone explain?
thanks.Ignored
DislikedIncrediblefx:
ABCDE is just notation at turning points, not wave counting as in EW. See Jest's picture here see if it helps:
http://www.forexfactory.com/showpost...ostcount=15806Ignored
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Dislikedlarge players have vested interest in this rally
as seen from 8 june
they need time to unload and distribute.
if the market splashes they are screwed.
If they can use other supported markets to(lean) cross off the pressure, they buy time.
now pressure is coming from daily reversal and sell pressure is building.
if they manage support for the longest time that sell pressur discipates.
Thats why the market is behaving wierd.
As can be seen in hourly charts, the cable is firm and supported by goo fundementals.
So that strength is being used to defray...Ignored
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Dislikedwell, in what context do you want the help.
In the context of the discussion then it could be VWXYZ and it wouldn't change anything. Its just points of reference on a chart indicating impulse turns and movement.
regardsIgnored
QuoteDislikedLet me give you a hypotical scenerio.
lets say (for example only), (in reality I have much more muscle than this)that the fibo expansion is my MM play, ie 1,1,2,3,5,8
Now thats 20 sections.
I send in 1 scout (wave AB), he plays well and I decide to check him, I send in 1 checker, which is my level 2 (wave CD)
and level 2 plays well,that would mean that wave CD is short and plays above wave AB. If wave EF retraces then i would be forced to invoke rescue 5 and I go into rescue mode.
If EF did not do that then the instance of the attack would...
DislikedI think, the confusing part is how to interpret your sequence into chart.
I've attached the scenario you put up and the chart I draw.
I still do not know where to profit taking happens.
http://www.forexfactory.com/showpost...postcount=1423Ignored