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  • #375,521
  • Jan 29, 2011 11:35pm Jan 29, 2011 11:35pm
I posted these videos last week also..just a quick update again if someone has missed these great videos by stephen story..

The Elliot wave JumpStart for Beginners

Five Phases to Becomming a True Forex Trader

7 Pillars and Chains of Trading Psychology
  • #375,522
  • Edited Jan 30, 2011 12:32am Jan 29, 2011 11:36pm | Edited Jan 30, 2011 12:32am
Quoting infinitus
Hi Fontu,

I think that we share the same experience with Elliott Wave. Let me formulate it in this way:

When I use Elliott wave knowledge on small TF's (for scalping), I do earn money. If I try to get an extraordinary good entry for long time positions, I often find myself losing money, especially when I am betting on the end of corrective waves. There are way too many options which can evolve. Look at the drama at S&P500. Elliotticans try to predict the end of the corrective upmove since nearly 2 years.

Yes, it is very rewarding to make a...
Thanks Markus sharing views , yes all ok . Similar to mime & apparenetly 5th eneded , may just take 3572 & 35/15 breaks & next 3457 & 10 & 3242 confirmation s before the final & real confirmation 1.2872.

and to remember all time that this 1.2872 was one level when a good wave down was repainted last time & gone above 1.3432 & 3497 very unexpectedly .

Yes most corrections are not for good set up except c wave & risky trading here to when it ended C but to us good for swings /scalping if can identify it as correction .

Thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #375,523
  • Jan 29, 2011 11:40pm Jan 29, 2011 11:40pm
Quoting fontu
Thanks Markus sharing views , yes all ok . Similar to mime & apparenetly 5th eneded , may just take 3572 & 35/15 breaks & next 3465 & 10 & 3242 confirmation s before the final & real confirmation 1.2872.

and to remember all time that this 1.2872 was one level when a good wave down was repainted last time & gone above 1.3432 & 3497 very unexpectedly .

Yes most corrections are not for good set up except c wave & risky trading here to when it ended C but to us good for swings /scalping if can identify it as correction .

Thanks ,
fontu
I'm still expecting some bullishness from 1.3550 level.. Further it may test 1.43/44 levels soon. This is much possible if and only if price breaks 1.37 levels. something below 1.3550 is extremely bearish.
  • #375,524
  • Jan 30, 2011 12:02am Jan 30, 2011 12:02am
Quoting The Fool
get down there with the mistress/CFO for a visioning/tanning retreat.
Wait a second, here. Are you suggesting visioning with the mistress and tanning with the CFO?

Or, maybe you mean the CFO is the mistress. Okay, vielicht. "Don't fish in the secretarial pool" doesn't apply to corporate officers, I suppose.
  • #375,525
  • Jan 30, 2011 12:04am Jan 30, 2011 12:04am
what is being said,,?
sorry I do not understand,

not usually on the weekend talking seriously like this
only an analysis, and I'm always wrong, don't follow me,
  • #375,526
  • Jan 30, 2011 12:09am Jan 30, 2011 12:09am
Quoting Srikanth
I'm still expecting some bullishness from 1.3550 level.. Further it may test 1.43/44 levels soon. This is much possible if and only if price breaks 1.37 levels. something below 1.3550 is extremely bearish.
And that's what makes a market: buyers and sellers.

This much I do know, and you can take it to the bank: from this level, if the price doesn't break 1.37, we will not see 1.43/44.

And with that, I am taking my slightly besotted self to bed.
  • #375,527
  • Jan 30, 2011 12:16am Jan 30, 2011 12:16am
Quoting andelumut
what is being said,,?
sorry I do not understand,

not usually on the weekend talking seriously like this
If you are referring to the Elliott wave discussion, I am sorry, I don't understand either.

If you are referring to my post above yours, pay no more attention to it than you would to a crazy man walking down the sidewalk muttering to himself. It means virtually nothing.
  • #375,528
  • Jan 30, 2011 12:17am Jan 30, 2011 12:17am
Quoting OldQuant
And that's what makes a market: buyers and sellers.

This much I do know, and you can take it to the bank: from this level, if the price doesn't break 1.37, we will not see 1.43/44.

And with that, I am taking my slightly besotted self to bed.
I see, next week the EU will be under pressure,,
U.S. GDP release is improved, can attract the attention of investors to buy dollars again,,

* just thought a nubie,,
only an analysis, and I'm always wrong, don't follow me,
  • #375,529
  • Jan 30, 2011 12:31am Jan 30, 2011 12:31am
Quoting andelumut
I see, next week the EU will be under pressure,,
U.S. GDP release is improved, can attract the attention of investors to buy dollars again,,

* just thought a nubie,,
Probably so the fires are still hot in the streets of Cairo.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #375,530
  • Jan 30, 2011 12:34am Jan 30, 2011 12:34am
Quoting andelumut
I see, next week the EU will be under pressure,,
You didn't get that from me; but, now that you mention it, yeah, that's very possible.

Quoting andelumut
U.S. GDP release is improved, can attract the attention of investors to buy dollars again,
Well, that, and the present threat of a spreading geopolitical conflagration. Good word, that. Google it, if you don't know it.

Teeth now brushed, wife in bed, lights and computer going off. Now.
  • #375,531
  • Jan 30, 2011 12:42am Jan 30, 2011 12:42am
Quoting Srikanth
I'm still expecting some bullishness from 1.3550 level.. Further it may test 1.43/44 levels soon. This is much possible if and only if price breaks 1.37 levels. something below 1.3550 is extremely bearish.
Ok , 3550 23.6# fib level and anything can happen in forex & hence 1.43/44 to any level possible , last it was possible 890 pips from 1.2871 when thought not.

lets see but I am with my analysis with sl in situ & so no confidence to bear with the bear perhaps .
fontu
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #375,532
  • Jan 30, 2011 12:48am Jan 30, 2011 12:48am
Quoting fontu
Ok , 3550 23.6# fib level and anything can happen in forex & hence 1.43/44 to any level possible , last it was possible 890 pips from 1.2871 when thought not.

lets see but I am with my analysis with sl in situ & so no confidence to bear with the bear perhaps .
fontu
I like that sentance..much possible
  • #375,533
  • Jan 30, 2011 1:11am Jan 30, 2011 1:11am
New Video: How much a Trillion dollars look like

Inserted Video
  • #375,534
  • Jan 30, 2011 2:15am Jan 30, 2011 2:15am
firres still hot in Cairo . i expect euro to open w/ a gap down and continue it fall from its bearish ascending wedge on 4 hr .
  • #375,535
  • Edited 4:01am Jan 30, 2011 3:34am | Edited 4:01am
Friday afternoon's PA was characterised by strong bearish momentum, with weak momentum on bounce to 23.6% Fibonacci retrace level of down leg (given that retrace was on low liquidity, late in the session).

Failed to penetrate prior support (red line) or 200 ema (purple ma) with rejection spike at that level.

20 ema (black ma) has crossed below 50 ema (blue ma).

50 ema has turned down.

Next support (or demand zone) comes in at a confluence level with 23.6% fr of overall up move @ 354x to 355x...
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  • #375,536
  • Jan 30, 2011 3:41am Jan 30, 2011 3:41am
Quoting fontu
Ok , 3550 23.6# fib level and anything can happen in forex & hence 1.43/44 to any level possible , last it was possible 890 pips from 1.2871 when thought not.

fontu
hi fontu,

hope things are well... if you remember how i came to my bearish bat on eu daily chart... I first spotted AB=CD from 1.18xx... it was perfect I wish i had spotted this back during 1.28 level... it was also the time i remember Tarantula shouting out we will see 1.3xxx levels... The time between AB to CD was pretty much accurate as was the pip count... my chart isn't that tidy but you get the idea...
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  • #375,537
  • Jan 30, 2011 4:08am Jan 30, 2011 4:08am
Quoting jaylovin
hi fontu,

hope things are well... if you remember how i came to my bearish bat on eu daily chart... I first spotted AB=CD from 1.18xx... it was perfect I wish i had spotted this back during 1.28 level... it was also the time i remember Tarantula shouting out we will see 1.3xxx levels... The time between AB to CD was pretty much accurate as was the pip count... my chart isn't that tidy but you get the idea...
Yeah , good job & nice chart .Patterns are very good things specially if seen in higher tf , to me though there are all patterns at every moments of movements, some ab=cd, gartleya, bat,butterfly , camel ,shampoo what not all functions of abcd only.
carry on good works & earn more money at the same time with accurate money management using them.
Wish you good pip hunting in forex.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #375,538
  • Jan 30, 2011 4:21am Jan 30, 2011 4:21am
Quoting Kengen
What is your opinion regarding today's breakdown of the EURUSD. Can one attribute today's action to pure technical price action formation or to the indirect fundamentals relating to issues and the protests unfolding in Egypt?

It was a classic dash for safety - gold reversed it's decline, dollar up, chf up - IMHO technical analysis is essentially effective while the world pootles along within 'normal' parameters, but when significant effects like Egypt, Tunisia and Yemen cause instability the big money gets withdrawn from risk and goes into safe havens and 'sell first ask questions later' sets in. Nobody can predict that - and when you find yourself looking for the patterns after the event (Ralph Nelson Elliott produced one of the most powerful market predictors, not a post -rationaliser - that is how he improved on Dow Theory which reveals its signals once the trend has been established) it's already too late. Normal service gets restored sooner or later - but this sudden market movement was entirely a race for safety - everywhere.
  • #375,539
  • Edited 4:36am Jan 30, 2011 4:24am | Edited 4:36am
Quoting Sir Stoploss
It was a classic dash for safety - gold reversed it's decline, dollar up, chf up - IMHO technical analysis is essentially effective while the world pootles along within 'normal' parameters, but when significant effects like Egypt, Tunisia and Yemen cause instability the big money gets withdrawn from risk and goes into safe havens and 'sell first ask questions later' sets in. Nobody can predict that - and when you find yourself looking for the patterns after the event (Ralph Nelson Elliott produced one of the most powerful market predictors, not...
agree to an extent, however once a fundamental stimulus enters the market, price will more often than not quickly return to technical parameters once the new information has been priced in...

edit: which having reread your post, you pretty much state anyway... given this it should also be noted that Egypt is still an unfolding situation, Yemen and Jordan may also be in the balance...

Latest figures for Egyptian death toll has now increased to 150 after last night's violence (400 seriously injured) - source: Al Jazeera
  • #375,540
  • Jan 30, 2011 5:01am Jan 30, 2011 5:01am
Quoting fontu
Yeah , good job & nice chart .Patterns are very good things specially if seen in higher tf , to me though there are all patterns at every moments of movements, some ab=cd, gartleya, bat,butterfly , camel ,shampoo what not all functions of abcd only.
carry on good works & earn more money at the same time with accurate money management using them.
Wish you good pip hunting in forex.
fontu

you too... atm i am seeing a drop to 1.35 but continuing after pullback potentially ending up at 1.34 levels... hoping to see a pullback first to get into the market...

1.3640 or 1.3680... again waiting for confirmation at these levels... gl.. not much trading from my end as my day job is getting busier for me...

my swing trade from 1.3615 is in profit gonna keep that till we hit 1.30xx levels.. i have been reading more and more elliott wave but not confident enough to apply my analysis to trades yet... long way to go for me before that happens... thanks again for the help with EW
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