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  • #4,301
  • May 10, 2011 9:18am May 10, 2011 9:18am
Just banked EU long for another 13. Still trading from Panera Bread on my 13". The "Tweak" appears to be "As advertised". Thanks Div.
  • #4,302
  • May 10, 2011 9:27am May 10, 2011 9:27am
The "Tweak" got me 13 also....Thanks
  • #4,303
  • May 10, 2011 9:34am May 10, 2011 9:34am
Quoting diamonddbw
Just banked EU long for another 13. Still trading from Panera Bread on my 13". The "Tweak" appears to be "As advertised". Thanks Div.
Hey D,

Was that the long around the 4355 area?
  • #4,304
  • May 10, 2011 10:04am May 10, 2011 10:04am
Yes, in at 4353, out at 4366...
  • #4,305
  • May 10, 2011 10:08am May 10, 2011 10:08am
Quoting TraderinSD
Hey D,

Was that the long around the 4355 area?
+++++++++++++++++++++++

Yes TD. Wondering now if euro will have enough gas to go long once more. London fix is starting about now. But the euro is no where near it's 5 day adr, so it's not as likely to begin falling quite yet.

Bill Gross of Pimco, recently said he's getting out of bonds. We could see some euro strength from that.
  • #4,306
  • May 10, 2011 10:17am May 10, 2011 10:17am
Quoting diamonddbw
+++++++++++++++++++++++

Yes TD. Wondering now if euro will have enough gas to go long once more. London fix is starting about now. But the euro is no where near it's 5 day adr, so it's not as likely to begin falling quite yet.

Bill Gross of Pimco, recently said he's getting out of bonds. We could see some euro strength from that.

Very nice ... Enjoying a little Panera Bread , got the 13" working... Made a nice trade... Life is good

This Bond thing is appearing to have more and more issues..Might turn out to be a bumpy ride down the road. Time will tell.
  • #4,307
  • May 10, 2011 10:22am May 10, 2011 10:22am
Quoting degil
Yes, in at 4353, out at 4366...
You guys traded that as a 1-2-3 right?
  • #4,308
  • May 10, 2011 11:19am May 10, 2011 11:19am
Quoting ndhoanggia
You guys traded that as a 1-2-3 right?
Yes diamonddbw did , I did not ..
  • #4,309
  • May 10, 2011 12:09pm May 10, 2011 12:09pm
Quoting ndhoanggia
You guys traded that as a 1-2-3 right?
+++++++++++++++++
No 123 here. This was with the trend so a standard flag trade.
  • #4,310
  • May 10, 2011 2:37pm May 10, 2011 2:37pm
One of the things i'm not getting about this system is, how do you qualify the highs and lows? The chart on post 7 has last higher low written on it at about the 3700 area, but yet there is one above it at 3723 area. This is confusing me greatly as it is hard for me to understand your criteria for taken out swings.
  • #4,311
  • May 10, 2011 4:17pm May 10, 2011 4:17pm
Quoting BigRatt
One of the things i'm not getting about this system is, how do you qualify the highs and lows? The chart on post 7 has last higher low written on it at about the 3700 area, but yet there is one above it at 3723 area. This is confusing me greatly as it is hard for me to understand your criteria for taken out swings.
Not to worry, just takes some getting used to. What you want to look for:

In an uptrend... See how price will make swings... Swing lows (creates a pivot) and Swing highs... (creates a pivot)....Now follow along the trend upward...See how swing high is followed by a higher swing high = Higher High... In the same uptrend... See how the swing lows are followed by higher swing low = Higher low...As the trend is moving up....Same in reverse for a down trend... Lower Highs and Lower Lows

Another way to look at the trend... Look behind you in the price action...Is the current swing high... higher than the previous swing high... Is the current swing low higher than the previous swing low...? If that is what is happening then we are in an uptrend...Reverse process for a down trend

Hope this helps
  • #4,312
  • May 10, 2011 4:22pm May 10, 2011 4:22pm
Hi BigRatt,

on the chart in question the higher low at around 3700 was the last higher low before the higher high, the higher low at around 3723 came after the higher high, therefore this is not counted as there is no higher high after it.

Swings are taken out at the level of the last higher low (for switching to shorts) or at the level of the last lower high (for switching to longs) PRIOR to the last Higher High or Lower Low.

Hope this makes sense.
John

Quoting BigRatt
One of the things i'm not getting about this system is, how do you qualify the highs and lows? The chart on post 7 has last higher low written on it at about the 3700 area, but yet there is one above it at 3723 area. This is confusing me greatly as it is hard for me to understand your criteria for taken out swings.
  • #4,313
  • May 10, 2011 6:18pm May 10, 2011 6:18pm
Microsoft is buying Skype for 8.5 bil. My main concern is how much will the free service end up costing? Rumor has it that if Microsoft made vacuums, that would be their only product that wouldn't suck. imho
  • #4,314
  • May 10, 2011 6:19pm May 10, 2011 6:19pm
Looking for 123 on EJ now.
  • #4,315
  • May 10, 2011 7:05pm May 10, 2011 7:05pm
This one worked out. Did get out a little early because of junk in the trunk around 116.53. As it turns out I gave away 5 pips. I've noticed that the EJ, during the A/S, usually outperforms it's projected target. Will bring hand cuffs to next session.
  • #4,316
  • May 10, 2011 7:24pm May 10, 2011 7:24pm
Quoting diamonddbw
This one worked out. Did get out a little early because of junk in the trunk around 116.53. As it turns out I gave away 5 pips. I've noticed that the EJ, during the A/S, usually outperforms it's projected target. Will bring hand cuffs to next session.
I was in for 11p SL, could have had a 2:1 TP but allowed it to retrace to 1:1 and got out. Nice little trade.
  • #4,317
  • May 10, 2011 7:40pm May 10, 2011 7:40pm
You're on fire Darryl!
  • #4,318
  • May 10, 2011 8:30pm May 10, 2011 8:30pm
Looked like EJ was going to give another bite of the apple but price only moved about 8 pips after the trigger and I moved SL to BE - which is where it fell back.
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  • #4,319
  • Edited 9:53pm May 10, 2011 9:32pm | Edited 9:53pm
Quoting TraderinSD
Not to worry, just takes some getting used to. What you want to look for:

[color=black][font=Verdana]In an uptrend... See how price will make swings... Swing lows (creates a pivot) and Swing highs... (creates a pivot)....Now follow along the trend upward...See how swing high is followed by a higher swing high = Higher High... In the same uptrend... See how the swing lows are followed by higher swing low = Higher low...As the trend is moving up....Same in reverse for a down trend... Lower Highs and Lower...
Thank You for the response. I understand the first paragraph. Do u count a swing high as a lower low and lower high?
  • #4,320
  • May 10, 2011 9:51pm May 10, 2011 9:51pm
Quoting jmw1970
Hi BigRatt,

on the chart in question the higher low at around 3700 was the last higher low before the higher high, the higher low at around 3723 came after the higher high, therefore this is not counted as there is no higher high after it.

Swings are taken out at the level of the last higher low (for switching to shorts) or at the level of the last lower high (for switching to longs) PRIOR to the last Higher High or Lower Low.

Hope this makes sense.
John
Thank for your response. So it takes a higher low and a higher high as the last swing. This makes sense. I have one more question, can u explain this elliot wave thing to me? I read it takes 3 higher lows and 2 higher highs for example, to complete a wave. I dont understand what that means, i assume if you have those as the minimum number of highs and lows in a trend plus divergence, CCI above or below 50, and price back across the SMA is counted as a counter trend change. I dont know, i need some clarrification there. I like this method though, and being a college student this is going to fit me and my time allocation very nicely.
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