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  • #417,321
  • Apr 4, 2011 1:10am Apr 4, 2011 1:10am
Hello

Is there an Elliott waves indicator for MT-4 ?

Please help..Thank you
  • #417,322
  • Apr 4, 2011 1:14am Apr 4, 2011 1:14am
Quoting userff
Hello

Is there an Elliott waves indicator for MT-4 ?

Please help..Thank you
No there isn't. Nobody even knows how to correctly identify elliot waves. How do you expect someone to program an indicator properly?
  • #417,323
  • Apr 4, 2011 1:18am Apr 4, 2011 1:18am
Quoting thelws
Nobody even knows how to correctly identify elliot waves.
They do seem rather subjective. Are you saying that they are BS and better to be ignored and time better spent on other things?
  • #417,324
  • Apr 4, 2011 1:22am Apr 4, 2011 1:22am
Quoting Astroman
They do seem rather subjective. Are you saying that they are BS and better to be ignored and time better spent on other things?
not quite. im saying that it is too subjective to be programmed.

I bet if we were to look at a chart and try to determine elliot waves, yours will differ from mine. hence it is not possible to program because we do not have clear enough rules to code the lines.
  • #417,325
  • Edited 1:37am Apr 4, 2011 1:24am | Edited 1:37am
Quoting TradeBugger
I guess you should probably review the definitions of basic forex terminology...
On the current H1 chart, 4 out of the last 7 candles have respected 1.4215-1.4216 area. To further illustrate support there, view the M15 chart. Since PA has broken that area ~15 hours ago, PA has respected that area nicely for support.
Yeah your right 1 day worth of little bounces after London close Friday and before London open on Monday makes it major support. Well played.

On that note I guess Fridays high around 4242 must be major resistance since price has only broken through once but then closed right on that level on the 1 hr charts.

Good luck trading that 27 pip range between the major support and resistance.
Today's zone = Tomorrow's opportunity!
  • #417,326
  • Apr 4, 2011 1:24am Apr 4, 2011 1:24am
Quoting thelws

I bet if we were to look at a chart and try to determine elliot waves, yours will differ from mine.
I agree.

Thanks.
  • #417,327
  • Apr 4, 2011 1:25am Apr 4, 2011 1:25am
Uno Mas M15 Short

Good night and good luck! I will be around for the NY.
Attached Image (click to enlarge)
Click to Enlarge Name: eu m15.gif Size: 17 KB
  • #417,328
  • Apr 4, 2011 1:50am Apr 4, 2011 1:50am
Quoting thelws
No there isn't. Nobody even knows how to correctly identify elliot waves. How do you expect someone to program an indicator properly?
but there is a wolfe waves indicator
  • #417,329
  • Apr 4, 2011 1:54am Apr 4, 2011 1:54am
[quote=T.E.Lawrence;4519217]Attachment

my biggest win (2 days trade) in my 2 years Forex career.

...congrats man,i like such posts,btw. there is some people they say i win always...

I'm sure I'll give like 50% of this back to the market

...no no no,move your sl always to be
Money is made by sitting, not trading. Jesse L. Livermore
  • #417,330
  • Apr 4, 2011 2:06am Apr 4, 2011 2:06am
Quoting trustbank
is it a violation of Elliot Wave rule when your point 4 went into the area of point 1's end
Hi Trustbank,

I think you have to reread my post and the rules of EW.

I was talking about an ending diagonal. In a diagonal an overlap is a "must".

Best to you,

Markus
  • #417,331
  • Apr 4, 2011 2:06am Apr 4, 2011 2:06am
I expect the euro to hit R2 today....around 1.4355s
  • #417,332
  • Apr 4, 2011 2:12am Apr 4, 2011 2:12am
Quoting 168ipoh
I expect the euro to hit R2 today....around 1.4355s

And why is that? Do you have an inside tip-off? Are you planning to intervene in the markets with your retail account? Please share with the rest of the class.
We're all stories in the end. Just try to make it a good one.
  • #417,333
  • Apr 4, 2011 2:14am Apr 4, 2011 2:14am
Quoting Traderji
And why is that? Do you have an inside tip-off? Are you planning to intervene in the markets with your retail account? Please share with the rest of the class.
Check out the H4 charts...it's just waiting to launch itself up.

Well I might be wrong.
  • #417,334
  • Apr 4, 2011 2:28am Apr 4, 2011 2:28am
Quoting T.E.Lawrence
Attachment

3 trades from Friday closed, +311 pips.

I think this is my biggest win (2 days trade) in my 2 years Forex career.

I'm sure I'll give like 50% of this back to the market, but, this is how it works in this business.
This is great result. Congratulations! Do you think EURUSD will go down on Monday?
  • #417,335
  • Apr 4, 2011 2:30am Apr 4, 2011 2:30am
Quoting 168ipoh
Check out the H4 charts...it's just waiting to launch itself up.

Well I might be wrong.
I am looking at the 4H. Would you mind sharing what are you basing this launching on?
  • #417,336
  • Apr 4, 2011 2:31am Apr 4, 2011 2:31am
Quoting 168ipoh
Check out the H4 charts...it's just waiting to launch itself up.

Well I might be wrong.

I see a pretty big barrier at 4246. Last week it attempted to break through and got rejected and reversed course for ~200pips.

I'd hold off on longs till I see a breakout above that level.
We're all stories in the end. Just try to make it a good one.
  • #417,337
  • Apr 4, 2011 2:36am Apr 4, 2011 2:36am
Above 4246 long.

Below 4212 short.

In the mean time. Sit back and relax.

I am long biased coz daily candles feels like it wanna go up + lots of speculation that ecb rate going up this thursday.
  • #417,338
  • Apr 4, 2011 2:38am Apr 4, 2011 2:38am
Quoting Dreadart
I am looking at the 4H. Would you mind sharing what are you basing this launching on?
I'm bad at explaining things...but it's a bigger risk to be on the short side at these levels...so I'm long.
  • #417,339
  • Apr 4, 2011 2:56am Apr 4, 2011 2:56am
Quoting infinitus
See the study below. I had another one (but can not find it right now) that came to the conclusion, that it was especially good for trading stocks/indices in asia. When I find it I will post it...
Any luck in finding the 'asian version' ?
  • #417,340
  • Apr 4, 2011 2:58am Apr 4, 2011 2:58am
Good morning traders ,
Oil $108 and rising .
first time we close daily/weekly above 4200.
But this week the question will be ,Will they raise the eur interest rate as expected too 1.25% and what will they say at the meeting after the rate is published,What hints will the official speakers from fed and ecb reveal this week on policy?

The move friday was roughly 90 pips down 180 pips up .
Personally am playing the last leg with it being double the short leg.
Pull fib from top to bottom to give me some bull entry lvls.
Good probability though we wont see any substantial legs of 300+ pips till the rates are known.
Until thursday Possibility extending the range But no major push either way.

Initiated small soldier to test the terrain at 1.4220 to keep me focused .
We throw in some buddies if he proves successful .
making green pips large and red pips small this is my goal.
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