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  • #241
  • Jun 30, 2012 10:14am Jun 30, 2012 10:14am
Quoting polatok
Brother, There is no indicator that will help you to earn money ? ok ?

If there a single indicator that will let you earn money then all the forex trader will be what ? got the point.

Learn Ew use it manually become a $$$. ok ?
What? Speak correct english
  • #242
  • Jun 30, 2012 10:18am Jun 30, 2012 10:18am
Quoting polatok
Yes Raza "wave lengths" is the problem i am facing now. trying to understand this with fin now. if you got any batter method please pm me.
Please refer to Vincy Balboa thread Elliott wave first page to gauge the waves.

You need to somewhat memorize the rules. This is where I started.
Markets are not Random, they are designed!
  • #243
  • Jun 30, 2012 12:53pm Jun 30, 2012 12:53pm
Attached Image (click to enlarge)
Click to Enlarge Name: uj,4h.2.png Size: 59 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #244
  • Jun 30, 2012 12:59pm Jun 30, 2012 12:59pm
Quoting polatok
Emotionally charged moves tend to fizzle quickly and the [Euro]'s sharp rise, will likely follow this pattern. The only question is whether the push is wave ii of (v) or whether wave (iv) is still unfolding, but in a more complex configuration. Since the euro's main trend is down, we'll give greater weight to the immediate bearish potential. Wave iii down should start sometime next week. If the euro rises above 1.2749, the June 18 high, then wave (iv) would still be developing.
In my chart the correction should continue...
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #245
  • Edited 6:15pm Jul 1, 2012 12:57pm | Edited 6:15pm
This week we had a nice impulsive UP in the Euro Dollar. So as impulsive wave we can take it as a correction, but could be a FLAT ABC taking those two small waves @1.241-1.245. So in that case, we have two possibilities.

1. This is the wave A and we need B and C to finish the correction began at 1.229

2. This is the finish of the correction. I mean wave Y. And why? because using expasion fib levels taking W and X you can see a perfect fib level of 0,618 reached for the market and this WXY could be perfectly a running flat to continue the downtred.

In conclusion:

We could begin the week with a correction to the downside wave B in the first case good levels could be @ 1.256 or 1.241 or 1-2 in the second case. So now we are making wave a of B or 1 and a better forecast we could do ending Monday.

Good luck this week.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.1h.png Size: 64 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #246
  • Jul 1, 2012 8:33pm Jul 1, 2012 8:33pm
Quoting Luis Carlos
This week we had a nice impulsive UP in the Euro Dollar. So as impulsive wave we can take it as a correction, but could be a FLAT ABC taking those two small waves @1.241-1.245. So in that case, we have two possibilities.

1. This is the wave A and we need B and C to finish the correction began at 1.229

2. This is the finish of the correction. I mean wave Y. And why? because using expasion fib levels taking W and X you can see a perfect fib level of 0,618 reached for the market and this WXY could be perfectly a running flat to continue the downtred....
By the way the target to the upside after the correction still is:

(1.2885 - 1.2905)
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #247
  • Jul 1, 2012 8:36pm Jul 1, 2012 8:36pm
Quoting Luis Carlos
By the way the target to the upside after the correction still is:

(1.2885 - 1.2905)
I would see above 1.2900, my TP at 1.3000 zone. All the best.

Cheers!
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #248
  • Jul 1, 2012 10:55pm Jul 1, 2012 10:55pm
Quoting Raza
Please refer to Vincy Balboa thread Elliott wave first page to gauge the waves.

You need to somewhat memorize the rules. This is where I started.
Thanks for the source brother. i just read the wave 4 section and put it on my chart. here is the result :

Rules 1: W4< 50% of W.3_ 50% of wave 3 at 1.2835
Rules 2: W.4 38% W.3 common _ which was 1.2706 we already cross this.
Rules 3: W.4:W.3 < W.2:W1 on percentage basis_ W.2:W1=0.76%, W.4:W.3= 0.50% at 1.2784 and 0.61 at 1.2902 (0.61 will brake the rules number 1)
Rules 4: W.4 62% 100% 162% W.2_ 62%=186pips, 100%=300pips, 162%=486 pips. The high 1.2746 is already at 450 pips neat 162%
Rules 5: W.4 > 23.6% < 50% W.0 - W.3_ 23% at 1.2545 and 50% at 1.2835

Based on the rules wave 4 already complete and we are in the wave 5 (1,2) now.
Attached Image (click to enlarge)
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Trend Is Friend
  • #249
  • Edited 5:25am Jul 2, 2012 2:49am | Edited 5:25am
Quoting polatok
Thanks for the source brother. i just read the wave 4 section and put it on my chart. here is the result :

Rules 1: W4< 50% of W.3_ 50% of wave 3 at 1.2835
Rules 2: W.4 38% W.3 common _ which was 1.2706 we already cross this.
Rules 3: W.4:W.3 < W.2:W1 on percentage basis_ W.2:W1=0.76%, W.4:W.3= 0.50% at 1.2784 and 0.61 at 1.2902 (0.61 will brake the rules number 1)
Rules 4: W.4 62% 100% 162% W.2_ 62%=186pips, 100%=300pips, 162%=486 pips. The high 1.2746 is already at 450 pips neat 162%
Rules 5: W.4 > 23.6% < 50% W.0 - W.3_ 23% at 1.2545 and 50%...
Very Well...

It seems you have done your Homework.

Once you get a full grip on it then you can focus on Precision.

Wave#4 is what I always had been most concerned with it gives very good amounts of pips for wave#5.

Once you figure out the WAVE#3( when it satisfies the requirements) on any time frame then measuring wave #4 IS EASY. If there is a Violation to Wave#4 price level then you know its not wave#4 but rather a continuation of the trend, In otherwords you wont be looking for Wave#5.

(So it is ABC , where #3 is probably "C"and there is no wve #4) But you will only know when Wave#4 , if there is such a thing goes beyond the level mentioned in rules) This happens most of the time.

Hope it makes sense.

Take care

PS: Just to stay out of trouble, for scalping sake...Count every wave as an ABC rather than 1-2-3-4-5. You dont have to be right all the time, that means you dont have to be in the Market all the time.

Enjoy life once the daily target is met.
Markets are not Random, they are designed!
  • #250
  • Edited 3:36am Jul 2, 2012 3:36am | Edited 3:36am
Quoting Raza
Very Well...

It seems you have done your Homework.

Once you get a full grip on it then you can focus on Precision.

Wave#4 is what I always had been most concerned with it gives very good amounts of pips for wave#5.

Once you figure out the WAVE#3( when it satisfies the requirements) on any time frame then measuring wave #4 IS EASY. If there is a Violation to Wave#4 price level then you know its not wave#4 but rather a continuation of the trend, In otherwords you wont be looking for Wave#5.

(So...
"Count every wave as an ABC rather than 1-2-3-4-5" The simplest way to know the market. Thank you.
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #251
  • Jul 2, 2012 3:47am Jul 2, 2012 3:47am
Quoting sukkim
"Count every wave as an ABC rather than 1-2-3-4-5" The simplest way to know the market. Thank you.
You are welcome.

Or 1-2-3 WAIT...then 1-2-3 , there should be a Violation OF PRICE somewhere on some TF. Take your decision with defined MM.

Simple as that.
Markets are not Random, they are designed!
  • #252
  • Jul 2, 2012 3:49am Jul 2, 2012 3:49am
Quoting Raza
You are welcome.

Or 1-2-3 WAIT...then 1-2-3 , there should be a Violation OF PRICE somewhere on some TF. Take your decision with defined MM.

Simple as that.
Few days ago he post his first ew chart with 12345 counting and and today says count like abc. haha.
Trend Is Friend
  • #253
  • Edited 4:11am Jul 2, 2012 3:53am | Edited 4:11am
Quoting polatok
Few days ago he post his first ew chart with 12345 counting and and today says count like abc. haha.
Well thats for scalping if you dont wanna lose your Money...thats another way of trading.

For reference Read about Ian Copsey...then you may understand.

It is in reference to Harmonics and the Rythm.

And what do you mean "First EW chart"?
Markets are not Random, they are designed!
  • #254
  • Jul 2, 2012 4:05am Jul 2, 2012 4:05am
Quoting Raza
You are welcome.

Or 1-2-3 WAIT...then 1-2-3 , there should be a Violation OF PRICE somewhere on some TF. Take your decision with defined MM.

Simple as that.
Exactly it's perfect.
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #255
  • Edited 6:11am Jul 2, 2012 5:24am | Edited 6:11am
Quoting Raza
when 1.2637 breaks then 1.2787 is the limit or resistence after that

1.3080ish is one of the price and 1.32xx next.

1.2529 is the support atm.

-------------------------------------

Hello Loui,

You only have the Bearish POLL? No Bull?
Ok looking at the chart If it breaks 1.2561 - 1.2549- 43 and 1.2530 to the downside then there is a probability to go to 1.23006. Resistence is at 1.2651-62 and 1.2655- 1.2666 now.
Patience needed to make a decision @ 1.2626 again.

Prefferred scenario is still long.
__________________
Attached Image (click to enlarge)
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Markets are not Random, they are designed!
  • #256
  • Jul 2, 2012 5:40am Jul 2, 2012 5:40am
If there was easy money lying around,no one would be forcing it into your
  • #257
  • Jul 2, 2012 6:08am Jul 2, 2012 6:08am
Quoting Raza
Ok looking at the chart If it breaks 1.2561 - 1.2549- 43 and 1.2530 to the downside then there is a probability to go to 1.23006. Resistence is at 1.2638-41 now.
Patience needed to make a decision.

Prefferred scenario is still long.
__________________
how do u know were to target wave c /3?

i gess u r going to short wave 4(?)
Iam just A pips on the rode :nerd:
  • #258
  • Jul 2, 2012 6:17am Jul 2, 2012 6:17am
Quoting Raza
Ok looking at the chart If it breaks 1.2561 - 1.2549- 43 and 1.2530 to the downside then there is a probability to go to 1.23006. Resistence is at 1.2651-62 now.
Patience needed to make a decision.

Prefferred scenario is still long.
__________________
Hi Raza.. Can you share your higher time frame wave count with us?
  • #259
  • Jul 2, 2012 6:24am Jul 2, 2012 6:24am
Quoting -er-
how do u know were to target wave c /3?

i gess u r going to short wave 4(?)
Well If you look at the wave structure from the low of 1.2406 to 1.2692... It seems like 3-3-5 which also makes Up to be 3 wave structure A @ 1.2461 B @ 1.2411 and C @ 1.2692. So collectively 3-3-5.

Now a 3 wave structure unfolded or in the process. In otherwords it is correcting the whole Move from 1.2406 - 1.2692 which should also be in 3 waves.Once it is done then it should make a move Up in 3 waves or 5 waves. If it is 3 waves then The whole structure is 3-3-3 if it is 5 waves then 3-3-5. Hence breaking the last High @ 1.2747.

Only below 1.2461 will be worrisome. Even then it needs to go below 1.2406 to have a Bearish Bias.

Then the time comes into Play. How much time Market spends in Corrective wave to qualify as corrective. So far move down seems to be corrective in nature, there is no Impulse.

Now If you see an Impulse move Up even in 1 minute Chart then Up move is in Play. IMO.

Resistence is 1.2651 and support is 10 pips below 1.2585... so 1.2576 is another place to watch for or take a long with few pip stop.
Markets are not Random, they are designed!
  • #260
  • Edited 6:48am Jul 2, 2012 6:35am | Edited 6:48am
Quoting Almondeyed
Hi Raza.. Can you share your higher time frame wave count with us?
I dont have One...

I had mentioned before, I judge waves from Fibionacci levels and then label them after.

In otherwords Fibs first then Wave #.

All I have on my charts is Fibs and channels and trendlines+ pattern recognition lines.( hand drawn )

As of last week 1.2406 has a good symmetry with 1.2786.(1.2780 is GANNS degree)

And 1.2747 has a good symmetry with 1.23006.( Also a Ganns Degree)

Middle of everything is @ 1.2524 +-10 pips.

From my experience Waves, indicators Moving averages they dont produce precise results and make you Biased.

Only Fibs tells a story and Fibs are constant.
Markets are not Random, they are designed!
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