EURUSD

Last night I did, in essence, the first scalp I've done in a very long time. Every night we face an 18 minute outage period, which is routinely handled just by tightening up a last resort resting stop, forgetting about it, and restarting everything when its back.

But last night, coming in long, I thought, what the he11, the price action looks sour, so I shirt-tailed a posted signal call I trusted, and just before midnight E, forced a flatten around 3728. It automatically restored its desired long position when it came back up, (around 00:23), around 3717, and it was like it never happened. The effect of 11 ticks sit-out ain't going to make much difference in the long run.

Thing is, though, I was nervous as a new bride, watching it, worrying over it. Had ego running on that trade. But at least now, like trying chewing tobacco as a kid, I got it out of my system. But unlike with that, this time I didn't have to puke for 20 minutes after.

Hi Longshot,

how are things going in beautiful Netherlands? :-)

I have issues with your big wave 5 down. When you switch to daily TF then there is one wave overmuch or we have a missing wave. I had this count too several weeks ago but I abandoned it.

Main reason was, that this 5th wave had bad internals on 1h and 15min TF (many wave overlaps etc, simply: bad impulse).

I think, that the 5 wave structure lies in the waves labeled 1,2,3 on your chart. Your wave three can be counted as wave 3, 4 and 5. Yes, it is ugly, but it is countable.

See my chart from a few days ago.

But, with this Elliott Wave mess in EURUSD lately, all options should be considered. Hey, maybe it is your count. Heaven knows LOL

Best to you and keep up the good work,

Markus

http://3.bp.blogspot.com/_jSGaPkRybH...h+eurusd+c.gif

so you're both very bearish on the eurusd???

your wave 3 seems to be shortest.
i don't think its right.

ive made some dollars on the euro correction and rally, hey i'm starting to observe the market. yesterday i said cup and handle but stayed and in cash after taking profits nearing the fib and pivot resistance level.

i think the euro will correct maybe slightly once again to find that fib line as support before moving up. i mean after getting past that major resistance, i dont see a logical reason for the euro to tank, i think we are still on wave 3 or nearing its end, basing on the daily.

i dont trust the hourly for trend, the daily says uptrend corssing 200 ema 10/30 and bollinger point up. i thinkg 2.618 close to 1.40 before we really see wave 4

right now i took a calculated gamble the price just hit R2 line and the demand has slowed down. so ill short briefly on the correction before positioning my self long once again

Everything about today tells me EU is going to 0!

Nice bounce today.. should be interesting this evening & tomorrow

Hi Pinero,

I am long-time bearish whereas Longshot is mid-time bearish. My count is the more bearish one.

Currencies are not really the best place to start with Elliott-Wave analysis. It is sometimes very confusing, because in currencies you always have to analyze the pair (e.g. EUR and USD). One part goes up, the other part goes down.

Therefore impulses are oftentimes not as clear as impulses in indices like SP500.
Oftentimes you can count a move both impulsive and corrective. That is a hard work to count.

But sometimes you get very clear situations and you can profit outstandingly.

If you are new to Elliott wave start with analyzing the SP500 or the Wilshire or the Dow. If you get more confident try it with commodities or currencies.

I do a very lot of EW-analysis and I love it. But more and more I am sure it is not the best way to analyze currencies. For me it is one of many methods I use.

Instead of starting with EW it may be more wise to start with all kind of Fibonacci, support and resistance trading and Murrey Math.

But I do not know what your trading style is. I saw in your profile that you have almost 3-5 years of experience.

If you really like to master EW, than give it a try, but do not expect to master it in a few days or weeks.

Best to you,

Markus

Eyes on Monthly 61.8.............

Hey, hey, hey,

do not give me a heart attack LOL

No, no, wave 5 is the shortest (it is a optical delusion). But maybe I can not calculate properly, who knows...... :-)

Thx for the explanation (especially the part about ew in forex), i know it's worth to keep an eye on it...
just had the wrong starting...(started counting, before i had read enough about it)

wish you the best too

http://www.forexlive.com/163805/all/...es-it-official
this just in guys

Mubarak Makes It Official
Will not stand for next election
Main priority is stability to allow for transfer of power
Will work hard to carry out necessary measures to transfer power to successor
Vows to pursue political. economic reforms

i feel FU°°° short @ 3809 , not sure if keep or close....

i would keep it and put Sl at daily high

its worked well for me so far... but im no expert, if you dont know what to do.
stay out. stying in cash is a great position, dont give your money to the market. trade what you see and only if you are willing to bet on it, if not sure, screw it stay out till u see a profitable set up

Hi, I've already closed a painful short tonight.
where are you from? I'm from Latina

Hey man... I have seen you already in this situation. bear in mind: if yuo want to keep trading there are two things to do:

1. decide when to enter
2. decide when to exit

Second point alone can also work. You just need to set Stop Losses or to hedge your position = open opposite trade at a certain level.

To leave an order and challenge the fate does not always work well

thanks...anyone sees some corrections for tomorrow?

you can get out of this, as there should be a dip sometime in the next 8 hrs.

this is an interesting article, I just found. I don't really understand all the rules of VSA, but the author of this post sounds plausible if you are thinking > intraday.
3992

btw: done.
http://www.forexfactory.com/attachme...1&d=1296073717

dann kann es ja jetzt im dax runter gehen
machst du auch selber dax-analysen??