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  • #304,181
  • Oct 11, 2010 10:22am Oct 11, 2010 10:22am
I'll be watching TL support closely...
  • #304,182
  • Oct 11, 2010 10:22am Oct 11, 2010 10:22am
Quoting DMA Trader
I don't think Prechter is a good example. Even if he had some very good calls. He also had some very bad ones. I've also been subscribing to his data a few months and there were a lot of bearish calls that really were not good at all.

We are way higher now than those calls about shorting indexes.

Yet I did some common sens counts based on daily on E/U and it worked. simple counts. Yet when people go to 5 min 15 min EW is sort of trying to force it.

Have you read into Gleen Nelly work ? He did made some pretty good long term calls. yet...



I like Prechter foremost because of his socionomic approach.

Yes, he mad many bad calls, but he mad also calls of a lifetime.

And when you read EW you have to be flexible. I can recount faster than you can spell TA :-)

Problem with Prechter is, he tries to call the top or the bottom. He needs this to do to promote his company.

I mainly trade the squiggles on 15min, 5min and 1min TF. 15min works very good for me. Maybe it is the combination with MM and Ichimoku. I do not know. Since I have implemented MM things got definitely better.

Prechter called the top in indices over one year ago, SP was at 1030 (when I remember correctly). Who had ever believed that you can awake a dead horse by injecting billions and billions. I underestimated this effect too.
But he got it right in April.

But since one year we have more or less sideway action. This billions spend with zero effect will badly backfire.


Back to trading: Do you go short now or long, inquiring minds want to know :-)

Best to you, Markus
  • #304,183
  • Oct 11, 2010 10:23am Oct 11, 2010 10:23am
Quoting Driver55
I don't want affect anyone ... but ...
if there's a point where trying to go long, at least on the short term, that level is 3885
Would not even dream about going long when PA is playing south of the 4h trendline from sep 10th.. no Murray och pivot or gannn will work if bears smell the blood of weaking bulls... theres a nice drop of atleast 3-400 pips in play on a break.. probably more.. it smells correction.. lets se what bulls got..
  • #304,184
  • Oct 11, 2010 10:24am Oct 11, 2010 10:24am
Quoting kassec
1.3879
sick r:r .... sl will be hit soon : P
Hero calls followed by margin calls...
  • #304,185
  • Oct 11, 2010 10:27am Oct 11, 2010 10:27am
Quoting frankiev2
Would not even dream about going long when PA is playing south of the 4h trendline from sep 10th.. no Murray och pivot or gannn will work if bears smell the blood of weaking bulls... theres a nice drop of atleast 3-400 pips in play on a break.. probably more.. it smells correction.. lets se what bulls got..
There's also probably a lot of pending buy orders at that MM level. R/R seems good and given current PA, I'd bet more on bulls than on bears. Let's see.
Don't just be a sheep : make your own idea of it.
  • #304,186
  • Oct 11, 2010 10:28am Oct 11, 2010 10:28am
learned last week dont argue with 30-40 pip 5 minute bars.


DONT HANG ON TO LONGS JUST IN CASE!!!!!

these guys split there orders into small chunks i read.
making green pips large and red pips small this is my goal.
  • #304,187
  • Oct 11, 2010 10:28am Oct 11, 2010 10:28am
Quoting Hissst
Is Gator still up?
i am now..
those who can, do. those who cant, talk about those who can
  • #304,188
  • Oct 11, 2010 10:29am Oct 11, 2010 10:29am
Quoting Lorna
Not seen him for a while (few hours), maybe gone to bed Zzzzzz. I'm going to risk this slow upward move and go for a shower lol
i have that affect.
those who can, do. those who cant, talk about those who can
  • #304,189
  • Oct 11, 2010 10:33am Oct 11, 2010 10:33am
Quoting gatorinla
i am now..
alarm trigger ?
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #304,190
  • Oct 11, 2010 10:33am Oct 11, 2010 10:33am
I think we go lower. We had down, than sideway, now down.

This down has to be a 5-3-5

The first 5 is a mess. I can not count it. Maybe something with a leading diagonal in the subwave 1.

The 3 is the part in the middle (where else), not so good to count also.

So I have to estimate beginning of the second five.

We are now in the last 5. Here we are likely in subwave 4, but I can imagine, that subwave 5 will extend. 3855 should then be reachable
  • #304,191
  • Oct 11, 2010 10:34am Oct 11, 2010 10:34am
Quoting gatorinla
i have that affect.
LOL
  • #304,192
  • Oct 11, 2010 10:35am Oct 11, 2010 10:35am
Quoting kassec
There's also probably a lot of pending buy orders at that MM level. R/R seems good and given current PA, I'd bet more on bulls than on bears. Let's see.
Bulls have been many and strong.. still this trendline is probably on every traders chart by now, and if it breaks with confirmation everyone will run for cover... covering their longs. I'm still waiting for the 1H candle to close before my first shorts are placed, then I'll wait for the 4H candle and so on.. but Long is not an option at the moment.. Long weaknes is now a fact.. and if it breaks I guess ASIA will kick this south all night..
  • #304,193
  • Oct 11, 2010 10:36am Oct 11, 2010 10:36am
help people what to do, we have 5 buy orders on eurusd, do we need to take SL, or wait 20 pips for a bull?
  • #304,194
  • Oct 11, 2010 10:38am Oct 11, 2010 10:38am
Dont try analyse this it could be someone selling currency (wink) lol

Doesn't seem to be retracing just consolidation at moment looks bearish
making green pips large and red pips small this is my goal.
  • #304,195
  • Oct 11, 2010 10:41am Oct 11, 2010 10:41am
Quoting frankiev2
Bulls have been many and strong.. still this trendline is probably on every traders chart by now, and if it breaks with confirmation everyone will run for cover... covering their longs. I'm still waiting for the 1H candle to close before my first shorts are placed, then I'll wait for the 4H candle and so on.. but Long is not an option at the moment.. Long weaknes is now a fact.. and if it breaks I guess ASIA will kick this south all night..
I agree. It sounds like BOJ is just waiting for the right opportunity to take advantage of the situation. This would be an opportune time.
  • #304,196
  • Oct 11, 2010 10:47am Oct 11, 2010 10:47am
If this breaks 1.3885 get out of your longs.
making green pips large and red pips small this is my goal.
  • #304,197
  • Oct 11, 2010 10:47am Oct 11, 2010 10:47am
I'm going to invest in a blindfold. My recommendation, long blindfolds.
  • #304,198
  • Oct 11, 2010 10:47am Oct 11, 2010 10:47am
Quoting gatorinla
i have that affect.
Hee hee, hi there Gator
  • #304,199
  • Oct 11, 2010 10:49am Oct 11, 2010 10:49am
My work tells me that if we get a few hourly closes under 3860, a short term top is in.
Look Sharp/Trade Tight
  • #304,200
  • Oct 11, 2010 10:53am Oct 11, 2010 10:53am
  •  jet4x
  • | Joined Aug 2010 | Status: slow & steady turtle wins the race | 168 Posts
im already short from 3895....tp 3863..... finger cross
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