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  • #357,161
  • Jan 3, 2011 2:00pm Jan 3, 2011 2:00pm
Quoting kill56
back tothe darn line i love the ema200 if we go through next the one on h4
open weekly with 50 ema and you'll see where we are.
  • #357,162
  • Jan 3, 2011 2:04pm Jan 3, 2011 2:04pm
First of all I like to wish all of you, my friends, a happy New Year. May all your dreams come true. I hope you had a very nice party :-)


I have just updated my Elliott Wave count on my blog. See picture there. It can be accessed through my signature.


The count down from the top at 4282 has been a big pain, especially the weeks since December.

Counting the waves is not only a big challenge in finding the right count, choosing the right probabilities, finding the right "look", etc., but an even bigger challenge to NOT count what one would like to believe.

This waves may be seen as a very good example (subject to the condition that the count, which I provide today, proofs to be the right one).

At the start of December we saw obviously two big impulses down, which were interrupted by one corrective wave.

The immediate assumption was: we have wave 1, 2 and three. And everybody and his dog was waiting for a wave 4 and 5 to unfold. But then wave 4 got bigger and bigger in price and in time. Nearly all counts and alternatives got busted.

Today I stepped a step back, zoomed out of the 1 hour chart to see the whole movement in one picture. Then I took a look at Awesome Oscillator to spot the wave 3 of the down-move. And all of a sudden the picture got clear. The obvious 3 wave move was NOT a three wave move. There were all the waves in it to fulfill a 5 wave move (see my labeling).

Now we may be in intermediate wave 2, which is an ABC-wave. Wave A was an impulse, wave B was a flat and ongoing wave C is an impulse, where we have seen wave 1 to 3. Wave 4 is either finished or ongoing. We will see in the next hours. Right now I tend to say it is ongoing, because the rule of alternation should force it to get a little bit more complex. In this wave 4 we have seen an impulse down (good to be seen on 1 and 4 hour chart) for wave A and now in wave B (either ongoing or already completed). Wave red 1 and 4 already have an overlap. This means we get either an ending diagonal for wave orange C, or we got a series of 1-2's in this impulsive wave orange C. In the first case I expect the top to be in the range of 3458 to 3550. In the second case targets around 3790 or even higher are not out of the woods. Remember: wave 2's can take back all of wave 1's advance.
  • #357,163
  • Jan 3, 2011 2:08pm Jan 3, 2011 2:08pm
Quoting Piters
open weekly with 50 ema and you'll see where we are.

dont u love thos darn ema's i hope u did hit the head
  • #357,164
  • Jan 3, 2011 2:13pm Jan 3, 2011 2:13pm
Quoting kill56
dont u love thos darn ema's i hope u did hit the head
very.. 50, 200 the important part from my toolbox
  • #357,165
  • Jan 3, 2011 2:17pm Jan 3, 2011 2:17pm
Quoting Piters
very.. 50, 200 the important part from my toolbox

i do love my cam's weekly and daily and mm too ,they do guide u throug the battle
  • #357,166
  • Jan 3, 2011 2:20pm Jan 3, 2011 2:20pm
Quoting Piters
open weekly with 50 ema and you'll see where we are.
Still got the rest of the week to go. Imagine the last candle as a bullish one and note that 1.3574 seems like an important level.
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  • #357,167
  • Jan 3, 2011 2:31pm Jan 3, 2011 2:31pm
Quoting inception
Still got the rest of the week to go. Imagine the last candle as a bullish one and note that 1.3574 seems like an important level.
lol.. GM mate.. [7:30am]

correct mate... and if you zoom a bit you'll see a bit of confluence here.. 3400 is a significant level [as per weekly], however second week how we trade above 5sma.. - enough for position traders on SHORT side to take some profit [of the weekly]

200ema goes to 3490-3500
FIB 38.2 goes to 3470

we need a bit of Push here.. maybe with PANDA coming today in Asia session...

cheers..

[Chart]
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  • #357,168
  • Jan 3, 2011 2:37pm Jan 3, 2011 2:37pm
Quoting kill56
i do love my cam's weekly and daily and mm too ,they do guide u throug the battle
I look floor pivots [daily only], [above/below]
I follow 50ema mostly 1h,4h, daily, weekly
I consult CCI, MOM, for divergence [1h, 4h, daily]
I follow stoch for wave and cycle [15m, 1h, 4h, daily]
I look at the bull/bear flags 15min, wedges, triangles
I take profit on 10sma HI/LO [4h, daily]
I respect closing lines [candles HI/Lo] @ daily, weekly, monthly as a trend pointers
===============================
and I trade 5min - 15min ONLY

that's me.. easy
  • #357,169
  • Jan 3, 2011 2:40pm Jan 3, 2011 2:40pm
is it going to meet 1.3500?
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  • #357,170
  • Edited 2:43pm Jan 3, 2011 2:41pm | Edited 2:43pm
my correction type-o is 1.337

Quoting ForexTreeGuy
closed at 1.3366 based on consolidation of price action and time of day in the market will review for maybe caching after retracment the move up to target 1.3497 in my first post.
Selling at 1.337 after double top High of the Day & previous resistance.

Your opinions welcome
  • #357,171
  • Jan 3, 2011 2:41pm Jan 3, 2011 2:41pm
Quoting Vilgax
I agree with you. Made $ on long earier today only to give some back by going short way too early...Patience is so vital in trading yet such a problem (for me) ...Will wait for sideways action to pass and plan to enter short around the 1.3428 - 1.3397 region. Too soon to short now...waiting...
Obviously, I think timing is the most important factor in trading forex profitably. Today wasn't too difficult as the euro topped out at 1030 CST, near the London fix.
"Timing Is Everything. Really I Swear It Is"
  • #357,172
  • Jan 3, 2011 2:43pm Jan 3, 2011 2:43pm
Quoting Piters
I look floor pivots [daily only], [above/below]
I follow 50ema mostly 1h,4h, daily, weekly
I consult CCI, MOM, for divergence [1h, 4h, daily]
I follow stoch for wave and cycle [15m, 1h, 4h, daily]
I look at the bull/bear flags 15min, wedges, triangles
I take profit on 10sma HI/LO [4h, daily]
I respect closing lines [candles HI/Lo] @ daily, weekly, monthly as a trend pointers
===============================
and I trade 5min - 15min ONLY

that's me.. easy
P, what's a floor pivot?
I know 10 sms = gann hi/low?
  • #357,173
  • Jan 3, 2011 2:45pm Jan 3, 2011 2:45pm
Quoting pkimnyc
P, what's a floor pivot?

what about daily pivot
  • #357,174
  • Jan 3, 2011 2:47pm Jan 3, 2011 2:47pm
Quoting kill56
what about daily pivot
I know what daily pivot is.
Is that same as floor pv?
  • #357,175
  • Jan 3, 2011 2:50pm Jan 3, 2011 2:50pm
Quoting pkimnyc
P, what's a floor pivot?
I know 10 sms = gann hi/low?
same mate..

Daily pivot point.. [H+L+C]/3

http://club.ino.com/trading/2007/05/...ling-prophecy/

Pivot(P) =(H + L + C)/3
Resistance level 1 (R1) =(2*P) – L
Support level 1 (S1) =(2*P) – H
Resistance level 2 (R2) =(P – S1) + R1
Support level 2 (S2) = P – (R1 – S1)
Resistance Level 3 (R3) =(P – S1) + R2
Support Level 3 (S3) = P – (R2 – S1)
  • #357,176
  • Jan 3, 2011 2:51pm Jan 3, 2011 2:51pm
Quoting kill56
what about daily pivot
same thing.. I only look where PA is right now Above/below.. using only DPP
  • #357,177
  • Jan 3, 2011 2:52pm Jan 3, 2011 2:52pm
Quoting Piters
same mate..

Daily pivot point.. [H+L+C]/3

http://club.ino.com/trading/2007/05/...ling-prophecy/

Pivot(P) =(H + L + C)/3
Resistance level 1 (R1) =(2*P) – L
Support level 1 (S1) =(2*P) – H
Resistance level 2 (R2) =(P – S1) + R1
Support level 2 (S2) = P – (R1 – S1)
Resistance Level 3 (R3) =(P – S1) + R2
Support Level 3 (S3) = P – (R2 – S1)
Thanks bro.
  • #357,178
  • Jan 3, 2011 2:53pm Jan 3, 2011 2:53pm
Quoting pkimnyc
I know what daily pivot is.
Is that same as floor pv?

yes sir its
  • #357,179
  • Jan 3, 2011 2:55pm Jan 3, 2011 2:55pm
Quoting Piters
I look floor pivots [daily only], [above/below]
I follow 50ema mostly 1h,4h, daily, weekly
I consult CCI, MOM, for divergence [1h, 4h, daily]
I follow stoch for wave and cycle [15m, 1h, 4h, daily]
I look at the bull/bear flags 15min, wedges, triangles
I take profit on 10sma HI/LO [4h, daily]
I respect closing lines [candles HI/Lo] @ daily, weekly, monthly as a trend pointers
===============================
and I trade 5min - 15min ONLY

that's me.. easy
I'm really pleased for you. those candles must be a real buzz also the old wedges and triangles thrown in too. I'll keep a look out for all your pearls of wisdom splashed across this thread.

Have you made any money yet? Thats not included in the list?
rat
  • #357,180
  • Jan 3, 2011 2:57pm Jan 3, 2011 2:57pm
heres one with all 3 daily weekly and monthly pivot
Attached File(s)
File Type: mq4 AutoPivotIndicator_ver5.mq4   31 KB | 224 downloads
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