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  • #327,101
  • Nov 16, 2010 4:32pm Nov 16, 2010 4:32pm
Quoting Traderji
Good sensible advice there. Thank you.


However I must say the angry defensive reaction from our resident Elliot wave "Analyst" has me even more convinced it is absolute BS and not something I could trust.
If the Elliot wave traders have lost money with this strong trend the last couple of months there is def. something wrong with how they have interpret the EW. In fact if anyone was loosing alot during this time, re-checking the plan is good idea..

I have a couple of flat trading models I use which aren't good during the trending time but looking at my portfolio I still get a steady increase because the other models perform very well.

In other words, using Elliot Wave alone isn't the best idea, you have to use your tools in your toolbox. As they say you can't build a house with only a hammer. Well, you can but it would be hard to sell it later on tihihi....



tihihihihi....

tihi..
  • #327,102
  • Nov 16, 2010 4:33pm Nov 16, 2010 4:33pm
Quoting KumoDragon
I'm tottaly with you on that....

Here it is a free zone and I want to see all opinions and theories ... It is for me to decide my own path.
It is not the case to call the others work: "crap"
Let's try to be more more friendly each other.
  • #327,103
  • Nov 16, 2010 4:33pm Nov 16, 2010 4:33pm
Quoting SamEnglish
Cloggie, could I put the same question to you too if you don't mind?
ok man we may be at the top right now... the hour close should squeeze the pair.. or 15 m before hour close. we are under a ceiling that will hit shortly.. the risk of a short is a min amount of pips..
those who can, do. those who cant, talk about those who can
  • #327,104
  • Nov 16, 2010 4:40pm Nov 16, 2010 4:40pm
Quoting SamEnglish
Cloggie, could I put the same question to you too if you don't mind?
this move has eaten up weekly levels and tl w/o much effort. its much stronger then it appears.
Attached Image (click to enlarge)
Click to Enlarge Name: bear 3.PNG Size: 19 KB
those who can, do. those who cant, talk about those who can
  • #327,105
  • Nov 16, 2010 4:41pm Nov 16, 2010 4:41pm
Quoting EuroTrader
Here it is a free zone and I want to see all opinions and theories ... It is for me to decide my own path.
It is not the case to call the others work: "crap"
Let's try to be more more friendly each other.
I'm not calling anyones work here crap. I'm saying my opinion on the premise of elliot wave theory in and of it'self as predictive tool and as a consistent edge is crap.

I'm not making any opinion on anyones work here, just the premis of elliot wave theory it'self.
  • #327,106
  • Nov 16, 2010 4:44pm Nov 16, 2010 4:44pm
looking back at old charts that have had similar daily drops in the EU during a down trend, I have decided to go for a short scalp from 1.3492 with tight stops targeting the major support +/- 3460. I have seen on past charts where the end of the day after such a drop consolidates into a bearish wedge or triangle(is that correct?) and then drops quickly to previous support just before the Asia session open. we'll see.

I would post a chart of the past days charts to which I reffer if I could figure out how to make the saved image small enough.
  • #327,107
  • Nov 16, 2010 4:45pm Nov 16, 2010 4:45pm
Quoting Mr Hatch
dreams come true.
As Gabrielle once said...
  • #327,108
  • Nov 16, 2010 4:47pm Nov 16, 2010 4:47pm
Quoting KumoDragon
I'm not calling anyones work here crap. I'm saying my opinion on the premise of elliot wave theory in and of it'self as predictive tool and as a consistent edge is crap.

I'm not making any opinion on anyones work here, just the premis of elliot wave theory it'self.
Ok fine, I'll say it.

Elliot talks crap.
  • #327,109
  • Nov 16, 2010 4:47pm Nov 16, 2010 4:47pm
Quoting KumoDragon
I'm not calling anyones work here crap. I'm saying my opinion on the premise of elliot wave theory in and of it'self as predictive tool and as a consistent edge is crap.

I'm not making any opinion on anyones work here, just the premis of elliot wave theory it'self.
Elliot wave is widely over analyzed by traders imo. However, I find simple wave counts, and an understanding of fibs to be pretty beneficial. That being said, I'm no pro.
  • #327,110
  • Nov 16, 2010 4:48pm Nov 16, 2010 4:48pm
Attached Image (click to enlarge)
Click to Enlarge Name: uj.png Size: 51 KB



uj has been a good reflection of uj weakness recently

as we have prolonged compression towards supply zones - confluence with dx and 4 hr demand zone of eu



something is pending ...........
  • #327,111
  • Nov 16, 2010 4:51pm Nov 16, 2010 4:51pm
Quoting druckenmillr
what's the population of Germany?

82 Mio.
  • #327,112
  • Nov 16, 2010 4:53pm Nov 16, 2010 4:53pm
Quoting gatorinla
this move has eaten up weekly levels and tl w/o much effort. its much stronger then it appears.
I'm in. SL 100 pips behind me... no TP (at this stage - may be revised later). Let's see how it goes.
  • #327,113
  • Nov 16, 2010 4:54pm Nov 16, 2010 4:54pm
Quoting redsword11



something is pending ...........
can you please be more specific?
  • #327,114
  • Nov 16, 2010 4:55pm Nov 16, 2010 4:55pm
Quoting infinitus
82 Mio.
Das ist sehr gut.
  • #327,115
  • Nov 16, 2010 4:59pm Nov 16, 2010 4:59pm
Quoting cloggie
Right this minute, no. Wait for SY/TY to do its thing, meaning bring this up for a better price, with the morning run being back down again, all this changes if the EU comes up with something. I am not convinced they will so will be looking for another down day tomorrow, targeting 1.33. THis is not a firm target yet, it all depends on what TY does tonight, they could well bring this up to 1.355
Cloggie, why do you think they will try to push the price up. Is there a surplus of cheap Euros floating around? Aren't they also worried about the EZ's debt problems? Why wouldn't the Asian session simplly continue where NY left off, given that Brussels is yet to provide any news? BTW, thanks for your advice.
  • #327,116
  • Nov 16, 2010 5:01pm Nov 16, 2010 5:01pm
Quoting qwertymyfx
Das ist sehr gut.
Es kann diskutiert werden
  • #327,117
  • Nov 16, 2010 5:02pm Nov 16, 2010 5:02pm
Quoting SamEnglish
Cloggie, why do you think they will try to push the price up. Is there a surplus of cheap Euros floating around? Aren't they also worried about the EZ's debt problems? Why wouldn't the Asian session simplly continue where NY left off, given that Brussels is yet to provide any news? BTW, thanks for your advice.

TY generally wants to get a bit of a run at it, there will be orders stacked up in TY, there will be profit taking from last nights trades. Just hang back till TY opens to tell you what she wants, a few pips left on the table to see a clear direction is a small fee to pay to be on the right side of the market. Lots of pairs are at crunchtime including UC, UJ and EJ, let them tell you what they will do with these triggers.

Unless you are scalping of course.
  • #327,118
  • Nov 16, 2010 5:02pm Nov 16, 2010 5:02pm
Quoting qwertymyfx
can you please be more specific?


its all on the charts - pending something ............ implying swing, correction
  • #327,119
  • Nov 16, 2010 5:03pm Nov 16, 2010 5:03pm
Quoting Larseg
Es kann diskutiert werden
Ok, now you've lost me.

Lol!
  • #327,120
  • Nov 16, 2010 5:09pm Nov 16, 2010 5:09pm
Quoting SamEnglish
I'm in. SL 100 pips behind me... no TP (at this stage - may be revised later). Let's see how it goes.
i doubt you sl needs to be that wide as long as the floor falls. 3499 was the ceiling..at close.. near term floor is 3427
those who can, do. those who cant, talk about those who can
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