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  • #678,861
  • Aug 10, 2012 12:14pm Aug 10, 2012 12:14pm
Quoting PF-Trader
Attachment
Love those who use a 200 ma on something other than a daily.

Even then it is just a number.
  • #678,862
  • Aug 10, 2012 12:16pm Aug 10, 2012 12:16pm
Well, guess I'll just close my last short for 14 pips before Oanda closes for the weekend and I end up getting stopped out as the spread widens to 10 pips over the weekend.

Have a nice weekend everyone, hope everyone had a good trading week too.
  • #678,863
  • Aug 10, 2012 12:19pm Aug 10, 2012 12:19pm
Quoting SunTrader
Love those who use a 200 ma on something other than a daily.

Even then it is just a number.
I trust in the 200MA because it works fine in every TF and protects you against false breakouts...
  • #678,864
  • Aug 10, 2012 12:26pm Aug 10, 2012 12:26pm
Quoting droox
Can you show one?
Here is H1 chart, with ABC correction up and new 5 wave trend down. Not sure just yet if 4th wave is complete, probably not. Oh and this five wave is just part of a larger 5 wave:
Attached Image (click to enlarge)
Click to Enlarge Name: EUwaves.png Size: 27 KB
  • #678,865
  • Aug 10, 2012 12:27pm Aug 10, 2012 12:27pm
Quoting SunTrader
Good luck with doing that for a career.
Exactly ... You are going to need the luck if you are trying to go down that road ...
Human
  • #678,866
  • Aug 10, 2012 12:29pm Aug 10, 2012 12:29pm
How do you feel with a 200MA: long or short? Have a wonderful weekend. Will be back on monday...

Attached Image (click to enlarge)
Click to Enlarge Name: 10aug_2.gif Size: 17 KB
  • #678,867
  • Aug 10, 2012 12:36pm Aug 10, 2012 12:36pm
Quoting SunTrader
Here is H1 chart, with ABC correction up and new 5 wave trend down. Not sure just yet if 4th wave is complete, probably not. Oh and this five wave is just part of a larger 5 wave:
Beautiful grafics ...

And yes ... I think we will have a further downside move then next week ...

Downside resumption not out of the woods ...





;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #678,868
  • Aug 10, 2012 12:42pm Aug 10, 2012 12:42pm
Quoting SunTrader
Here is H1 chart, with ABC correction up and new 5 wave trend down. Not sure just yet if 4th wave is complete, probably not. Oh and this five wave is just part of a larger 5 wave:
:

My opinion is that your count is wrong , and i'll tell you why-but don't take it for granted and read my post having in mind that i'm a newbie.

- the basic rule for the elliot wave is that wave 5 should excede the high/low of wave 3.Which is not in your case for the last 5 wave count for the wave B.
- wave B is a counter trend wave and should not be a 5 wave count but an ABC or complex correction, which is not in your case for the wave i mentioned above
- wave C is a trend move and should be a 5 wave count , the same stands for the wave 3, which is not the case in your count for the move we are this.week.

Tje conclusion is that you should review the count
  • #678,869
  • Aug 10, 2012 12:50pm Aug 10, 2012 12:50pm
Quoting mercy seat
Beautiful grafics ...

And yes ... I think we will have a further downside move then next week ...

Downside resumption not out of the woods ...





;-|
Other than that it is beautiful but not convincing
  • #678,870
  • Aug 10, 2012 1:12pm Aug 10, 2012 1:12pm
Quoting droox
:

My opinion is that your count is wrong , and i'll tell you why-but don't take it for granted and read my post having in mind that i'm a newbie.

- the basic rule for the elliot wave is that wave 5 should excede the high/low of wave 3.Which is not in your case for the last 5 wave count for the wave B.
- wave B is a counter trend wave and should not be a 5 wave count but an ABC or complex correction, which is not in your case for the wave i mentioned above
- wave C is a trend move and should be a 5 wave count , the same stands for the wave 3,...
Fifth wave failure do not have to have a higher high than wave 3

And wave b is an ABC.

C ya tomorrow or Sun.
  • #678,871
  • Aug 10, 2012 1:17pm Aug 10, 2012 1:17pm
Quoting SunTrader
Fifth wave failure do not have to have a higher high than wave 3

And wave b is an ABC.

C ya tomorrow or Sun.
I didn't hear such thing as fifth wave failure, either it is a 5 wave or not. If it's not confirmed.than it is something else but not a 5 wave.

Anyway i appreciate your sharing. Good trading
  • #678,872
  • Aug 10, 2012 1:25pm Aug 10, 2012 1:25pm
#678926

Quoting droox
Other than that it is beautiful but not convincing
We will see ...

Elliott is commonly known as the most vage method in all TA setups ...

That is just because of all those backdoors like hidden counts etcetera ...

And we do have famous Elliotticans in our team ... one of them is a 60 year old Elliott Captain (really very well known man) ... even he suggests to clean up all those sticky rules ... as forex is an open system ...

All we need to know is that it looks as if currently we stuck in a subwave four of a most probably five part impulse ...

And for me it is enough ... when he did say ... not shure if four complete or not ...

Luckily we do have much more methods to determine trends and possible turnarounds ...

But at least an old rule says a formula must not only work out right in a functionally way - it must be beautiful as well ...

And no doubt it is ...

Enough for me atm ...





;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #678,873
  • Aug 10, 2012 1:47pm Aug 10, 2012 1:47pm
Quoting mohan76
very hard , you may tap my resistant and break it(very low chance) .if thinks going out of control i will use itchy list
LOL.
"Men who can both be right and sit tight are uncommon."
  • #678,874
  • Aug 10, 2012 1:49pm Aug 10, 2012 1:49pm
Quoting Vtmn
out @1.2294

have a nice weekend
Well done
"Men who can both be right and sit tight are uncommon."
  • #678,875
  • Aug 10, 2012 2:10pm Aug 10, 2012 2:10pm
i'm a sportsman myself and i enjoy the olympics =)
  • #678,876
  • Aug 10, 2012 2:35pm Aug 10, 2012 2:35pm
have a nice weekend
"It's the Margin, Stupid."
  • #678,877
  • Aug 10, 2012 3:06pm Aug 10, 2012 3:06pm
Quoting mercy seat
#678926



We will see ...

Elliott is commonly known as the most vage method in all TA setups ...

That is just because of all those backdoors like hidden counts etcetera ...

And we do have famous Elliotticans in our team ... one of them is a 60 year old Elliott Captain (really very well known man) ... even he suggests to clean up all those sticky rules ... as forex is an open system ...

All we need to know is that it looks as if currently...
i follow elliott waves a lot..well may be i try to count. He must be right because I pretty much have the same count according to H4 chart currently in wave 4 correction but don't know where wave 5 will end. I anticipate a truncation W at those lows 2245 again possibly.
Besides the candles around 1.24 suggest bearish mode continues...

Wait and see game I guess
  • #678,878
  • Aug 10, 2012 3:23pm Aug 10, 2012 3:23pm
Quoting SnaveForex
i follow elliott waves a lot..well may be i try to count. He must be right because I pretty much have the same count according to H4 chart currently in wave 4 correction but don't know where wave 5 will end. I anticipate a truncation W at those lows 2245 again possibly.
Besides the candles around 1.24 suggest bearish mode continues...

Wait and see game I guess
any chances market will open with gap on monday
  • #678,879
  • Aug 10, 2012 3:39pm Aug 10, 2012 3:39pm
Quoting ptetech
any chances market will open with gap on monday
don't go there. noone knows.
  • #678,880
  • Aug 10, 2012 3:43pm Aug 10, 2012 3:43pm
Quoting ptetech
any chances market will open with gap on monday
Yes I think there is a chance... and its probably something along the lines according to my calculations of about %50.00000000000000000.
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