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MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

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EURUSD

  • #221
  • Quote
  • Edited Apr 7, 2006 7:39am Apr 6, 2006 5:39pm | Edited Apr 7, 2006 7:39am
The wave E was extended as the alternative showed. A strong candle down today is a break of the uptrend with a high in 1.2329. This need to be confirmed with to more waves down, as the active pattern require.
  • #222
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  • Apr 6, 2006 6:58pm Apr 6, 2006 6:58pm
hello traders,
eur/usd goes to sell side according to wolfe wave analysis. please check the chart of eur/usd.

regards,
k.n.v.santosh
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  • #223
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  • Apr 6, 2006 7:14pm Apr 6, 2006 7:14pm
Am I the only one who thinks that Elliot Waves are total nonsense as an useful trading tool?
  • #224
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  • Apr 6, 2006 7:21pm Apr 6, 2006 7:21pm
WTB

Are you basing your conclusion on the link in the # 1 post above. I think a moderator should look at it.

Lou
  • #225
  • Quote
  • Apr 6, 2006 7:24pm Apr 6, 2006 7:24pm
No no, I meant his postulates as a whole. I am no expert on it, but after reading an Elliot Waves-based book, I was like "hhmmm yeah, this is pretty neat in a theorically perfect trending scenario, but when do you get those conditions in the real markets?"

Perhaps it was useful as a trading tool back in the day when his theory was released, but now a days...
  • #226
  • Quote
  • Apr 6, 2006 7:26pm Apr 6, 2006 7:26pm
Quoting WTB
Am I the only one who thinks that Elliot Waves are total nonsense as an useful trading tool?
I am with you. I don't believe in those waves, nor do I use them as a trading tool.
  • #227
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  • Apr 6, 2006 7:52pm Apr 6, 2006 7:52pm
I will stand with you on that idea. Get ten wave analysts in the room and you get eleven different conclusions, because at least one of them will change their mind. I have tried to use software for Elliot and it alwasy falls short for me.


Quoting WTB
Am I the only one who thinks that Elliot Waves are total nonsense as an useful trading tool?
  • #228
  • Quote
  • Apr 6, 2006 7:56pm Apr 6, 2006 7:56pm
Lou, I had a hard time just canceling that advertisement. What a crummy commercial. you are correct the moderator out to remove it. Besides I thought the rule was fifty posts before an endorsement.

SMJ


Quoting Lou
WTB

Are you basing your conclusion on the link in the # 1 post above. I think a moderator should look at it.

Lou
  • #229
  • Quote
  • Apr 6, 2006 8:14pm Apr 6, 2006 8:14pm
I just went and looked at all nine posts from bulls&bearsfx and nearly every post has a link to a online casino and sexual material.

Hey Buddy how about explaining that?????

SMJ


Quoting smjones
Lou, I had a hard time just canceling that advertisement. What a crummy commercial. you are correct the moderator out to remove it. Besides I thought the rule was fifty posts before an endorsement.

SMJ
  • #230
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  • Apr 7, 2006 7:41am Apr 7, 2006 7:41am
Well, I removed the link, but I think we need an explanation from bulls&bearsfx....


Thanks,

Nader
  • #231
  • Quote
  • Apr 7, 2006 7:48am Apr 7, 2006 7:48am
Quoting WTB
Am I the only one who thinks that Elliot Waves are total nonsense as an useful trading tool?
I believe that the Elliot wave theory is too theoritical to be true...I have also read a book about Elliot...The problem is that Elliot developed the theory to explain the movement of stock prices and the stock market indices in general...Commodities and currencies are a different story...It was other Elliot fans who tried to apply the theory for any chart type, which I believe is not true...

However, I do believe in the Elliot wave theory for stock prices, but I believe that you will never be able to spot the correct cycle which the price is passing through, that's why it will be almost impossible to apply the theory in real life, except after everything over the chart has been revealed....


Thanks,

Nader
  • #232
  • Quote
  • Apr 8, 2006 12:17am Apr 8, 2006 12:17am
Quoting narafa
I believe that the Elliot wave theory is too theoritical to be true...I have also read a book about Elliot...The problem is that Elliot developed the theory to explain the movement of stock prices and the stock market indices in general...Commodities and currencies are a different story...It was other Elliot fans who tried to apply the theory for any chart type, which I believe is not true...

However, I do believe in the Elliot wave theory for stock prices, but I believe that you will never be able to spot the correct cycle which the price is passing through, that's why it will be almost impossible to apply the theory in real life, except after everything over the chart has been revealed....


Thanks,

Nader
I don't believe in elliot wave, gann analysis, Fibonacci retracements , Stocastics or any of that other nonsense, I draw trend lines and use support and resistance, duplicate trend lines, putting one on the bottom and duplicating it to the top, where you can find your channels. and some other simple methods. always riding the trend.
  • #233
  • Quote
  • Apr 8, 2006 6:59pm Apr 8, 2006 6:59pm
WTB, for the most part I agree ref EW Theory. Ten traders in a room & you'll
most likely get 10 different views. One of the EW GURU's Robert Preatcher
lives about 85 miles from me & I have thought of giving him a call to discuss
the Wave Theory, but I have been told he does not accept calls.
Anyway some traders I talk to swear by it merits & target levels. Its just
not for me.
  • #234
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  • Apr 10, 2006 8:42am Apr 10, 2006 8:42am
Quoting Pip Stalker
I don't believe in elliot wave, gann analysis, Fibonacci retracements , Stocastics or any of that other nonsense, I draw trend lines and use support and resistance, duplicate trend lines, putting one on the bottom and duplicating it to the top, where you can find your channels. and some other simple methods. always riding the trend.
Well, IMHO if you incorporate some of each of these theories you can develop something that works. have a look at vegas' stuff.
  • #235
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  • Apr 11, 2006 5:59am Apr 11, 2006 5:59am
The price will probably stay above 1.18 level.
http://understandmarket.com/images/pattern1.gif
  • #236
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  • Apr 11, 2006 7:10am Apr 11, 2006 7:10am
It is consolidating
I am more surprized looking how GBP is consolidating for such a long time
kiss the trend
  • #237
  • Quote
  • Apr 11, 2006 7:59am Apr 11, 2006 7:59am
Quoting Pip Stalker
I don't believe in elliot wave, gann analysis, Fibonacci retracements , Stocastics or any of that other nonsense, I draw trend lines and use support and resistance, duplicate trend lines, putting one on the bottom and duplicating it to the top, where you can find your channels. and some other simple methods. always riding the trend.
You bring up an interesting point, pip stalker. You don't believe in Elliott waves, Gann theory, Fibbs, etc., but do believe in S/R levels.
While this is not out of the norm, S/R levels themselves are completely imaginary and do not exist on any plane of existence. They only influence trading within their range BECAUSE traders believe in them. Traders tend to place entries, stops, and limits around these levels making them in essence, a reality.
The same can be said of absolutely any trading theory. If enough people believe in it and apply it's ideas, then it becomes a living entity like S/R levels.

I've been using a Gann Swing system for a couple of months on three pairs and posted 723 profittable pips last week....this week so far, 343 - but yet I don't really subscribe to many of the ideas that Gann held as law. I do believe in the Dow theory that the Gann system is based on in it's core as a fundamental law of successful trading....but I have yet to credit the moon cycles with any success.

Perception is reality.....what you believe, you can achieve.
Capital Preservation is key to long term wealth accumulation
  • #238
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  • May 9, 2006 3:08pm May 9, 2006 3:08pm
Keep on movin'...minor retraces show that this is a strong rally up for the euro...it would be crazy to sell this right now!
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  • #239
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  • May 9, 2006 4:12pm May 9, 2006 4:12pm
Isotonic, I'm really impressed with your simple trading method. Great stuff, I am currently doing something similar on 4H charts, thinking to move over to dailyes.
Do you trade dailyes only?

-soso
-soso
  • #240
  • Quote
  • May 10, 2006 1:20am May 10, 2006 1:20am
Quoting Isotonic
Keep on movin'...minor retraces show that this is a strong rally up for the euro...it would be crazy to sell this right now!
Even with tomorrow's probable rate hike on the USD?
Mr. Trend
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