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  • #677,501
  • Aug 8, 2012 7:13pm Aug 8, 2012 7:13pm
Quoting Mr Hatch
I'm hesitant to trade consolidations... once I really identified them, we get over with them.
yeah, this is not gonna go straight up, it should drop some and that some can turn into more.. I just don't see TY too set on longs atm..
  • #677,502
  • Aug 8, 2012 7:14pm Aug 8, 2012 7:14pm
Quoting KumoDragon
........ Eliot wave theory has been around a LONG time, if it worked well it would have been perfected by now, and there would be a whole lot of rich traders and everyone would use it..
No comment other than :
  • #677,503
  • Aug 8, 2012 7:17pm Aug 8, 2012 7:17pm
Quoting SunTrader
No comment other than :
Which is what I think of traders who think Eliot wave theory is actually useful.
  • #677,504
  • Aug 8, 2012 7:19pm Aug 8, 2012 7:19pm
Quoting attila
yeah, this is not gonna go straight up, it should drop some and that some can turn into more.. I just don't see TY too set on longs atm..
2374.8 is a lower mofu... they can spend the whole session nibbling there without getting anywhere just to freak you out beyond belief.
I'd like a quick mark-up to around 88, then continue lower.
  • #677,505
  • Aug 8, 2012 7:20pm Aug 8, 2012 7:20pm
Attile , i don't know really the answer to your question.

@Kumo, you don't like Elliot wave or you have not studied it or not planning to study it , then i have no idea what are you establishing the statement on ? That we trust your opinion !

Elliot wave is just a tool in your box , sometimes it works - sometimes it doesn't. Like " MACD, S & R , Price action , paviot points and and and ". I personally don't use all of that with Elliot waves - however i'm not an expert in it. Anyway, what make it abit tricky and difficult sometimes is , I think two main reasons :

1- Mono waves , which sometimes looks like the impulse waves can be misleading sometime. Which is waves moving can give you a false idea that this is trend , while the bastards are just moving in the path of least resistance.

2- the counting problem - which really a headache

But even though, you should keep it in your arsenal. Maybe you need it some day.
"It's the Margin, Stupid."
  • #677,506
  • Aug 8, 2012 7:20pm Aug 8, 2012 7:20pm
MACD, RSI weakening and it's going up into wedgie..... i.e. should be falling.... it's been a really long wait.....
  • #677,507
  • Aug 8, 2012 7:22pm Aug 8, 2012 7:22pm
Quoting solsys
MACD, RSI weakening and it's going up into wedgie..... i.e. should be falling.... it's been a really long wait.....
u should prob wait until NY... they will pick a t op or bottom
  • #677,508
  • Aug 8, 2012 7:22pm Aug 8, 2012 7:22pm
I have a suggestion to make to new traders that seems strangling in finding a way:

You need to read and study first of all "Technical Analysis of the financial Markets" by John Murphy.

The basic of all TA theories is all there. In my view you need to grasp the basic before anything else.

Also a read and study of "Trade your way to the financial freedom" by Van K Tharp is a must which covers MM.

Will this be enough to become a successful traders? No way (in most cases), but it will point you in to the right direction.

Of course this is only my point of view.
"Men who can both be right and sit tight are uncommon."
  • #677,509
  • Aug 8, 2012 7:23pm Aug 8, 2012 7:23pm
Quoting KumoDragon
IMO (and I know Ill catch shit for this) Elliot wave is full on BS. It's just like using an indicator that looks good in hindsight. Counting waves and saying because it's on wave x, it's going to continue this way or retrace this amount then go this way is so completely retarded...IMO. Price does what it wants and doesn't conform to wave counts. There are so many supliferous things that effect price and cause it to spike , news release just to name one, that most of the wave counts you come up with will get tottally screwed.

Eliot wave...
this basically screams for some research. do the following for yourself. assume, that trending waves consist of 5 waves, and corrections consist of 3. leave all the other rules that ew packs out, and assume further, your get - let's say - wave 3 of the trends, and a portion of the corrections. count the pips for yourself and compare to your results.
I did, and I found it interesting to say the least.
  • #677,510
  • Aug 8, 2012 7:24pm Aug 8, 2012 7:24pm
Quoting Mr Hatch
2374.8 is a lower mofu... they can spend the whole session nibbling there with getting anywhere just to freak you out beyond belief.
I'd like a quick mark-up to around 88, then continue lower.
and I'd like a 2417, thank you

and a 2386 and after that a 2461 - please
  • #677,511
  • Aug 8, 2012 7:29pm Aug 8, 2012 7:29pm
Quoting HuoLong
and I'd like a 2417, thank you

and a 2386 and after that a 2461 - please
push the buttons and move the market.

GL
  • #677,512
  • Aug 8, 2012 7:35pm Aug 8, 2012 7:35pm
Quoting Vachus
On last attempt to cross the 750 and Wave III should start .... I hope i counted correct
Are you assuming that wave 1 began last Friday?
  • #677,513
  • Aug 8, 2012 7:38pm Aug 8, 2012 7:38pm
Quoting rustyram
This is what i see EUR doing.... If EUR is headed down to 1.2252 (wave c) from here....then we should not see price retrace above 1.2275 area (wave b) ....If price goes above 1.2280 area , then this wave count is invalidated

Once it gets to 1.2252 it would have retraced .618 of the recent up move, then it should start heading up to 1.2600 to satisfy the big C (4 Hour)

I am short 1.2369 , Exit at 1.2260 (100 PIPS), Stop 1.2385

Then Long at 1.2260, Exit at 1.2600

Anyone expecting the same moves......

Good luck guys.....


Your chart is awesome. Keep it going. Your SL is vulnerable though.
  • #677,514
  • Aug 8, 2012 7:38pm Aug 8, 2012 7:38pm
short @ 1.2370
sl @ 1.2387
tp @ 1.2287
Time turns trend. - W.D. Gann
  • #677,515
  • Aug 8, 2012 7:42pm Aug 8, 2012 7:42pm
Quoting Mr Hatch


Your chart is awesome. Keep it going.

Yes. That oughta bring in some short term bears!
  • #677,516
  • Aug 8, 2012 7:46pm Aug 8, 2012 7:46pm
Good morning

to much data for Asian Session, any sign of leak Chinese data or any rumor ?
Mohan
  • #677,517
  • Aug 8, 2012 7:47pm Aug 8, 2012 7:47pm
Quoting Mr Hatch


Your chart is awesome. Keep it going. Your SL is vulnerable though.
His projected c there is pretty close to my 2259..
  • #677,518
  • Aug 8, 2012 7:51pm Aug 8, 2012 7:51pm
Quoting attila
His projected c there is pretty close to my 2259..
...and to my 2255.7
But what's a handful of pips when mm is tight and proper?
I could never count waves like that... too many lettes for an illiterate like me.
  • #677,519
  • Aug 8, 2012 7:55pm Aug 8, 2012 7:55pm
Quoting mohan76
Good morning
Those theives today came to my rented house. Had to change the locks.
Its pretty difficult when your house is 5,000 miles away where you cannot rely on security systems.
The Thief of Wall Street
  • #677,520
  • Aug 8, 2012 7:55pm Aug 8, 2012 7:55pm
Quoting mohan76
Good morning

to much data for Asian Session, any sign of leak Chinese data or any rumor ?
If you got any rumor, let us know please
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