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  • #360,061
  • Jan 6, 2011 3:55pm Jan 6, 2011 3:55pm
Quoting Mr Hatch
gold chart

as long as the red trendchannel holds, everything appears to be fine. i'm glad, i don't trade this.
check out the 55 ema and sma. day. look at the last time we closed below.
those who can, do. those who cant, talk about those who can
  • #360,062
  • Jan 6, 2011 3:56pm Jan 6, 2011 3:56pm
Hello dear fellow traders,

sorry, due to technical problems I am not able to post charts yet. I am working on that problem.

This move down from 3433 was fairly impulsive and one can count so far nice 5 wave structures, were the last wave 5's subwave 4 is ongoing. I expect a last push down to around 2970 to 2939.

Downside forces were high, saw several running flats.

Wave 3 is the extended wave. Wave 1 = wave 5 is at 2990

Although the impulsive structure shows very nicely on higher TF's like 4, 6 or 8h chart, the smaler TF's lack this impulsive view. But hey, that is Forex.

My previous shown count got busted, because this move down was supposed to be the sub C-wave of a B-wave. But it got longer and longer and invalidated all the rules.

So I am back to my original count which I abandoned a few days ago, which saw us in a wave 2 (maybe a wave 4 of one lesser degree - I have to rethink that).

You can see this count (sideway action since December as a wave 4) at http://theelliottwavesufer.blogspot....arly-over.html

This waves to count was a big pain. Elliott Wave International in their STU have not provided a count of the move down from 4281 - maybe for good reason. When the structure does not get clear, one can lose credibility very fast by counting and recounting (kind of "stay patient or die trying).

When this move down has ended, we should see a retracement to

3122
3183 or
3245

Trade well and safe,



Markus
  • #360,063
  • Jan 6, 2011 3:58pm Jan 6, 2011 3:58pm
Quoting snatch
indicators are for loosers...

lol i am one of them
  • #360,064
  • Jan 6, 2011 3:58pm Jan 6, 2011 3:58pm
Quoting sisse
Paul, check the weekly is a lot cleaner. There is 2 clear S. One is the current 1.298x and the next 1.264x. The options are even easier to spot:

1. Clean break of 1.298x (weekly close) shorts 2 next S
2. Down and Close above (bear trap) long to next R 1.340x (confirming a weekly range)

Details and charts tomorrow before reports.

sisse
will do thankyou
making green pips large and red pips small this is my goal.
  • #360,065
  • Jan 6, 2011 3:59pm Jan 6, 2011 3:59pm
Quoting OldQuant

First, what type of barrier is this? A knock-in? A knock-out? A digital? Is it expiring or is it being knocked for later expiry? Often, these details are unreported.


Third, the size of these things are rarely really all that big,...
Good post, OldQ. I have often wondered about these. You seldom hear about them being very big, so what's all the hubbub?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #360,066
  • Jan 6, 2011 4:02pm Jan 6, 2011 4:02pm
I've posted this chart a few times this week and it's still in play.

Attached Image (click to enlarge)
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White dotted line is my personal medium term target. I'm not sure we're going straight there without revisiting 1.32xx, but staying flexible.
  • #360,067
  • Jan 6, 2011 4:03pm Jan 6, 2011 4:03pm
Quoting snatch
indicators are for loosers...
They have their uses, although I wouldn't trust an isolated entry signal from a lagging indicator...
  • #360,068
  • Jan 6, 2011 4:03pm Jan 6, 2011 4:03pm
Quoting Andreenzo
Thank you very much for your insight.
Be cautious although the math is logical .
Nobody told price and he can be very illogical.
making green pips large and red pips small this is my goal.
  • #360,069
  • Jan 6, 2011 4:08pm Jan 6, 2011 4:08pm
Squeezed in a long here @ 1.3003 (let's see do MA's turn up) Keeping them up will be the problem
Disclaimer: Check your 1m charts
  • #360,070
  • Jan 6, 2011 4:12pm Jan 6, 2011 4:12pm
Quoting FibbinArchie
They have their uses, although I wouldn't trust an isolated entry signal from a lagging indicator...
believe me, no indicator would've told you to sell eu on tuesday at 3428.. a simple trendline with fundamentals does... but then whatever works is fine... making pips is what matters at the end of the day
  • #360,071
  • Jan 6, 2011 4:14pm Jan 6, 2011 4:14pm
Quoting pipper
Squeezed in a long here @ 1.3003 (let's see do MA's turn up) Keeping them up will be the problem
tempted too, but seldom see you get a chance to enter a major bottom several times, still waiting for a last shake-out, but who knows.....
Don't be a hero. Don't have an ego. Always question yourself
  • #360,072
  • Jan 6, 2011 4:15pm Jan 6, 2011 4:15pm
I agree. Breaks down and i'm out

Quoting USD-Bear
tempted too, but seldom see you get a chance to enter a major bottom several times, still waiting for a last shake-out, but who knows.....
Disclaimer: Check your 1m charts
  • #360,073
  • Jan 6, 2011 4:15pm Jan 6, 2011 4:15pm
Quoting pipper
Squeezed in a long here @ 1.3003 (let's see do MA's turn up) Keeping them up will be the problem
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #360,074
  • Jan 6, 2011 4:16pm Jan 6, 2011 4:16pm
Quoting kill56
lol i am one of them

well its not too late to change, i did... the day i binned that garbage i picked up when i started fx, coming from a stocks background, my life and trading fell into place... and I hate MT4 with real .... its a terminal designed for failure..

with best wishes
anna
  • #360,075
  • Jan 6, 2011 4:17pm Jan 6, 2011 4:17pm
Quoting BrunargarFx
Hey Sisse, thanks for the tip (I rarely look at the weekly charts, but you are right, it's a lot clearer).
I have closed my positions at 1.3085 earlier on and did not re-enter afterwards. I also spotted the DB on daily chart at 1.298X.

The few systems I am using indicate overbought at present, so I'll favour a retracement tomorrow (Besides this would be a healthy sign of a downtrend move). I am planning to go long at 1.298x with 30pips SL. Targets will be defined along the way up using pivots, but unlikely up to 1.34. Will resume to short afterwards...
Your comments sounds reasonable and yes those are my weekly levels so I agree in general but I can't tell you if this is a good or bad plan because I don't know what is your trading plan, capital, risk, timeframe, etc and I am not interested in becoming a FF guru "mentor" as some around here.

What I can tell you is that these are weekly levels so if you are planing to take a trade based on a 5 minute chart during NFP you will get burnt guarantee 100%.

If you want to exchange some more detail weekly ideas and opinions on those levels drop me a line via PM so we don't mislead other intraday traders on the thread.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #360,076
  • Jan 6, 2011 4:18pm Jan 6, 2011 4:18pm
Quoting AllyB
Read this: http://www.forexcrunch.com/5-notes-f...rolls-trading/

Thanks Ally.
We're all stories in the end. Just try to make it a good one.
  • #360,077
  • Jan 6, 2011 4:23pm Jan 6, 2011 4:23pm
still the same play
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  • #360,078
  • Jan 6, 2011 4:23pm Jan 6, 2011 4:23pm
Quoting snatch
believe me, no indicator would've told you to sell eu on tuesday at 3428.. a simple trendline with fundamentals does... but then whatever works is fine... making pips is what matters at the end of the day
nope.. but it tried. i still gotta get the bugs worked out.
Attached Image (click to enlarge)
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those who can, do. those who cant, talk about those who can
  • #360,079
  • Jan 6, 2011 4:24pm Jan 6, 2011 4:24pm
Bailed -8

Quoting pipper
I agree. Breaks down and i'm out
Disclaimer: Check your 1m charts
  • #360,080
  • Jan 6, 2011 4:26pm Jan 6, 2011 4:26pm
Quoting sisse
Your comments sounds reasonable and yes those are my weekly levels so I agree in general but I can't tell you if this is a good or bad plan because I don't know what is your trading plan, capital, risk, timeframe, etc and I am not interested in becoming a FF guru "mentor" as some around here.

What I can tell you is that these are weekly levels so if you are planing to take a trade based on a 5 minute chart during NFP you will get burnt guarantee 100%.

If you want to exchange some more detail weekly ideas and opinions on those levels drop...
Ok, thanks. I appreciate!
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