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  • #4,461
  • Aug 7, 2012 10:12am Aug 7, 2012 10:12am
Quoting Davit
Closed my short from 60 at 58
Thinking wait and see where this is going but I am puzzled why this is going south.
Are traders getting tired of pushing this up on the back of Euro?
What do you guys think.Why is this going south.Is this the beginning of crumbling big move? or just a retrace.
Any ideas?
DB?
One visual possibility and probability is on the 4hour chart. Zoom out and put a trendline on the top of every recent high. That is one visual possibility only. Can be wrong.
  • #4,462
  • Aug 7, 2012 10:15am Aug 7, 2012 10:15am
Quoting Davit
Closed my short from 60 at 58
Thinking wait and see where this is going but I am puzzled why this is going south.
Are traders getting tired of pushing this up on the back of Euro?
What do you guys think.Why is this going south.Is this the beginning of crumbling big move? or just a retrace.
Any ideas? DB?
I gave you a prescription couple days ago. I guess you did not take it. My answer to your question is still the same prescription but different pharmaceutical co. this time.

http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory
daddybearforex. com
  • #4,463
  • Aug 7, 2012 10:20am Aug 7, 2012 10:20am
Quoting DaddyBear
I gave you a prescription couple days ago. I guess you did not take it. My answer to your question is still the same prescription but different pharmaceutical co. this time.

http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory
So you are applying no real fundamental reason other then Elliott wave?
Just seems something not right.
Should we start selling? or another big wave coming.

Thank you DB
In trading, you have to be defensive and aggressive at the same time
  • #4,464
  • Aug 7, 2012 10:25am Aug 7, 2012 10:25am
Quoting 5percent
One visual possibility and probability is on the 4hour chart. Zoom out and put a trendline on the top of every recent high. That is one visual possibility only. Can be wrong.
looks like nice descending line.Unless it changes up like DB is saying Elliott wave last push....
Thank you

This pair burned me lot of pips and don't want to miss out on down side
In trading, you have to be defensive and aggressive at the same time
  • #4,465
  • Edited 11:43am Aug 7, 2012 10:28am | Edited 11:43am
Quoting Davit
So you are applying no real fundamental reason other then Elliott wave?
Just seems something not right.
Should we start selling? or another big wave coming.

Thank you DB
I mentioned numerous times before either explicitly or indirectly. Both fundies and techies are superficial activities you can see by your eyes. In my opinion, EWP is the Law of the Market. You cannot see it by your eyes but with your mind. It is the most powerful force in the Forex market.
daddybearforex. com
  • #4,466
  • Aug 7, 2012 10:29am Aug 7, 2012 10:29am
Quoting Davit
looks like nice descending line.Unless it changes up like DB is saying Elliott wave last push....
Thank you

This pair burned me lot of pips and don't want to miss out on down side
I did not mention, "Elliott wave last push....".
daddybearforex. com
  • #4,467
  • Aug 7, 2012 10:37am Aug 7, 2012 10:37am
Quoting DaddyBear
I did not mention, "Elliott wave last push....".
DB as you know I am a rookie trying to learn and I won't pretend otherwise.
as you say EW is the real force then could you elaborate on your experience what wave are we?
And when you measure the wave what time frame are you using.Thank you
In trading, you have to be defensive and aggressive at the same time
  • #4,468
  • Aug 7, 2012 10:47am Aug 7, 2012 10:47am
Quoting Davit
So you are applying no real fundamental reason other then Elliott wave?
Just seems something not right.
Should we start selling? or another big wave coming.

Thank you DB
FYI, EWP was discovered by a genius, R.N. Elliot long time ago. He also incorporated Fibonacci's numbers to form his EWP. Nowadays, people use the portion of Fibonacci and forget his EWP.
daddybearforex. com
  • #4,469
  • Aug 7, 2012 10:51am Aug 7, 2012 10:51am
Quoting Davit
DB as you know I am a rookie trying to learn and I won't pretend otherwise.
as you say EW is the real force then could you elaborate on your experience what wave are we?
And when you measure the wave what time frame are you using.Thank you
Davit it's good your asking questions, but you're asking the wrong questions, and making too many assumptions. Market does what the market does to try, and pin point what's it doing, and asking what's it doing is a wrong approach, all you'll do is get confused, you need to fibd your own angel, and then facilitate information to fill it.
There are those who know, and there are those who don't know.
  • #4,470
  • Aug 7, 2012 10:52am Aug 7, 2012 10:52am
Quoting Davit
DB as you know I am a rookie trying to learn and I won't pretend otherwise.
as you say EW is the real force then could you elaborate on your experience what wave are we?
And when you measure the wave what time frame are you using.Thank you
I prefer not to get into detailed discussions of EWP in this forum. Most people are not interested in this topic. EWP is more complicated than what you can think. I will have to write a book to answer your question because my answer will induce your next question and so on.

Get a EWP book and study it until your butt is off if you are really interested in understanding what it is. -DB-
daddybearforex. com
  • #4,471
  • Aug 7, 2012 10:54am Aug 7, 2012 10:54am
Quoting DaddyBear
I prefer not to get into detailed discussions of EWP in this forum. Most people are not interested in this topic. EWP is more complicated than what you can think. I will have to write a book to answer your question because my answer will induce your next question and so on.

Get a EWP book and study it until your butt is off. -DB-
EWP is more old school, than I am and, market has changed since the 60s
There are those who know, and there are those who don't know.
  • #4,472
  • Aug 7, 2012 11:01am Aug 7, 2012 11:01am
Good questions to ask

Picking the waves a dips

Now that is the person we really need to be talking to.

The AUS is holding up,we need the a sell off in the EUR

To drag the AUS down

Down is good for me,waiting waiting

Trouble is the longer it sits up here

It could carry on going up
  • #4,473
  • Aug 7, 2012 11:04am Aug 7, 2012 11:04am
Quoting palabara
EWP is more old school, than I am and, market has changed since the 60s
EWP does not belong to the old school. Based on your criteria, Fibonacci numbers must be placed in the museum because it was discovered by Fibonacci in 13th century [?].

Both great discoveries are the underlying forces of [Forex] market. Most indicators are man-made or fabricated at best. I see both EWP and FIB ultimate navigators of Forex market. IMHO
daddybearforex. com
  • #4,474
  • Aug 7, 2012 11:10am Aug 7, 2012 11:10am
Quoting eliteincome
Good questions to ask

Picking the waves a dips

Now that is the person we really need to be talking to.

The AUS is holding up,we need the a sell off in the EUR

To drag the AUS down

Down is good for me,waiting waiting

Trouble is the longer it sits up here

It could carry on going up
A lot people tend to connect Aussie to Euro but I don't. I tried this before and found nothing was really existing between them. I believe looking for co-relationship of these two is the best prescription to make people dizzy and losing orientation at least.
daddybearforex. com
  • #4,475
  • Aug 7, 2012 11:15am Aug 7, 2012 11:15am
1.05331.0495,1.0440
  • #4,476
  • Aug 7, 2012 11:17am Aug 7, 2012 11:17am
Quoting DaddyBear
A lot people tend to connect Aussie to Euro but I don't. I tried this before and found nothing was really existing between them. I believe looking for co-relationship of these two is the best prescription to make people dizzy and losing orientation at least.
Sorry, sometimes I seem stubborn. But, the reality is that I have designed and tested thousands custom indicators in last few years. My conclusion is most indicators are nothing more than smokes. Otherwise all of us are on vacation all year long already.

Then someone may ask why DB is still here. Because, DB is still learning how to master EWP.
daddybearforex. com
  • #4,477
  • Aug 7, 2012 11:19am Aug 7, 2012 11:19am
Quoting DaddyBear
EWP does not belong to the old school. Based on your criteria, Fibonacci numbers must be placed in the museum because it was discovered by Fibonacci in 13th century [?].

Both great discoveries are the underlying forces of [Forex] market. Most indicators are man-made or fabricated at best. I see both EWP and FIB ultimate navigators of Forex market. IMHO
if I can tell you I can make money using ewp, you'll be like awesome and then I'll toss 10 books on your table and say start reading and learning..and at the end you'll be a master of ewp... and you won't know anything else..
There are those who know, and there are those who don't know.
  • #4,478
  • Aug 7, 2012 11:22am Aug 7, 2012 11:22am
Quoting DaddyBear
Sorry, sometimes I seem stubborn. But, the reality is that I have designed and tested thousands custom indicators in last few years. My conclusion is most indicators are nothing more than smokes. Otherwise all of us are on vacation all year long already.

Then someone may ask why DB is still here. Because, DB is still learning how to master EWP.
BTW, I have no intention to encourage anyone to study EWP because it is very tough to get hold of this principle. The more I study the more I want to learn about it. Its dimension is unlimited on both maximum and minimum directions.
daddybearforex. com
  • #4,479
  • Aug 7, 2012 11:26am Aug 7, 2012 11:26am
Quoting palabara
if I can tell you I can make money using ewp, you'll be like awesome and then I'll toss 10 books on your table and say start reading and learning..and at the end you'll be a master of ewp... and you won't know anything else..
I guess the answer would be only one out of one thousand people will realize what it really is in the end. All you need is just one book. Nothing more and nothing less. When a person realizes it is what it is then that time will come.
daddybearforex. com
  • #4,480
  • Aug 7, 2012 11:32am Aug 7, 2012 11:32am
Quoting DaddyBear
I guess the answer would be only one out of one thousand people will realize what it really is in the end. All you need is just one book. Nothing more and nothing less. When a person realizes it is what it is then that time will come.
I teach students, I give them the basic run down of ewp, and then tell me id yoy want to learn morw get a book and start reading.
There are those who know, and there are those who don't know.
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