Aussie Trading Room and Cartoons Gallery | Page 1093 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Cartoons and Pics 2,832 replies

EUR/USD Trading Room 328 replies

Do The Trading Room 20 replies

Attachments: Aussie Trading Room and Cartoons Gallery
Exit Attachments

Aussie Trading Room and Cartoons Gallery

  • #21,841
  • Dec 30, 2012 10:31am Dec 30, 2012 10:31am
Next level to watch 1.028, and 1.015. I might close my shorts from 1.04.

thoses numbers must be what daddybear is talking about as previous lows.
  • #21,842
  • Dec 30, 2012 10:34am Dec 30, 2012 10:34am
Quoting JollyBean
Weeee! Forex market is going to open again. Without any market activity, life is meaningless.
JollyBean, this is one of the reasons I don't like holidays after trading the Forex markets became a part of my life.
daddybearforex. com
  • #21,843
  • Dec 30, 2012 10:38am Dec 30, 2012 10:38am
Quoting DazZleA
pps I am using MT5 with candlesticks, P/sar, ema's @9,12,26, the MT5 MACD (default), full stoch and cci. Any comments on these indicators in concert?
DazZleA, welcome aboard. Nothing wrong with your indicators. If you could merge some of them together, they would work better. IMO -DB-
daddybearforex. com
  • #21,844
  • Dec 30, 2012 10:42am Dec 30, 2012 10:42am
thanks
forexalien

I closed all my trades of the year.
Just could not resist on Friday, which opened at dawn and closed at the end of the day.
Moreover'm in no hurry, this is my hobby.

So for you, let's go back to 1.0405 and 1.03550, is it?
Tell me 15M is best to swing?
  • #21,845
  • Dec 30, 2012 10:48am Dec 30, 2012 10:48am
Quoting forexalien
You will have a long journey of learning ahead of you, more like a life time of learning. The more you learn the more you earn......

Play the uptrending channel at it's extremes until it shows you different. The fiscal cliff news will have an effect on the direction when it is known, so beware..... You must also look at other TF's, before and after the H1 TF. I show a bottom on a M15 chart right now , but the H1 shows more room to come down, the H4 could come down a bit more for now. The biggest thing most traders never learn....is to stay out...
Hah, I hope my pockets are huge enough to take all that money. You have made a good case for sitting on your fingers when the oscillators are conflicting. However, I'd call it counter-trend trading.
daddybearforex. com
  • #21,846
  • Dec 30, 2012 10:51am Dec 30, 2012 10:51am
Quoting Tim_isoara
From wavemagician.com elliott rules .
I guess it is their concept not an universally accepted rule. At least, I know R.N. Elliot did not include this in his EWP.
daddybearforex. com
  • #21,847
  • Dec 30, 2012 10:54am Dec 30, 2012 10:54am
Quoting forexalien
Number One Rule In EWP....... Don't get lost, or Obsessed with wave counting....It will make you miss your trade......
Likely. Or even make you lose your trade all together. But, I have been addicted to the wave counting for a long time. Do you know any doctor treating such an addiction?
daddybearforex. com
  • #21,848
  • Dec 30, 2012 11:00am Dec 30, 2012 11:00am
Quoting mry2001
Next level to watch 1.028, and 1.015. I might close my shorts from 1.04.

thoses numbers must be what daddybear is talking about as previous lows.
The previous lows are based on the TF you are trading.
daddybearforex. com
  • #21,849
  • Dec 30, 2012 11:03am Dec 30, 2012 11:03am
Quoting DaddyBear
JollyBean, this is one of the reasons I don't like holidays after trading the Forex markets became a part of my life.
lol well, the good thing is unlike many others, we actually enjoy our work.
  • #21,850
  • Edited 11:36am Dec 30, 2012 11:06am | Edited 11:36am
Quoting JollyBean
lol well, the good thing is unlike many others, we actually enjoy our work.
In fact, I see trading the Forex markets as a serious business as well.
daddybearforex. com
  • #21,851
  • Dec 30, 2012 11:13am Dec 30, 2012 11:13am
Quoting DaddyBear
This was Luis' response to my comment about his EWC posted in his thread.



Here was my comment to his response.
Insults are the last refuge of a scoundrel or the out argued.

Quote
Daddy Bear: Furthermore, your wave 1 of 3 is also a corrective pattern and both you and Luis marked it as an impulsive wave 1.

Agreed, it is clearly corrective not impulsive, even more clear on 4h. I believe your wave count is correct and we are currently in a corrective phase now. The only confusion is that it appears rather complex.

I have never heard of the 7x rule for wave 3 but if you do the math, it is basically irrelevant. For example, look at 3rd wave of S & P from WW II to 1968, huge move in terms of duration and price. Not sure knowing it can not move more than 7x is helpful but it is also not one of the original concepts of EWP.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #21,852
  • Dec 30, 2012 11:23am Dec 30, 2012 11:23am
Thanks for your rational comments. -DB-

Quoting Mr. Scott
Insults are the last refuge of a scoundrel or the out argued.



Agreed, it is clearly corrective not impulsive, even more clear on 4h. I believe your wave count is correct and we are currently in a corrective phase now. The only confusion is that it appears rather complex.

I have never heard of the 7x rule for wave 3 but if you do the math, it is basically irrelevant. For example, look at 3rd wave of S & P from WW II to 1968, huge move in terms of duration and price. Not sure knowing it can not move more than 7x is helpful but it is also not...
daddybearforex. com
  • #21,853
  • Dec 30, 2012 11:25am Dec 30, 2012 11:25am
BTW, seems to me, you know much more about EWP than Luis.

Quoting Mr. Scott
Insults are the last refuge of a scoundrel or the out argued.

Agreed, it is clearly corrective not impulsive, even more clear on 4h. I believe your wave count is correct and we are currently in a corrective phase now. The only confusion is that it appears rather complex.

I have never heard of the 7x rule for wave 3 but if you do the math, it is basically irrelevant. For example, look at 3rd wave of S & P from WW II to 1968, huge move in terms of duration and price. Not sure knowing it can not move more than 7x is helpful but it is also not...
daddybearforex. com
  • #21,854
  • Edited 12:33pm Dec 30, 2012 11:53am | Edited 12:33pm
Quoting Luis Carlos
Another mistake...
http://www.forexfactory.com/attachme...1&d=1356887348
I know you like using W, X, and Y all over the charts. These wave counts are only used in the patterns of a double or a triple. Your excessive use of W, X and Y is not within the EWP.

In fact, you also marked A and B not W and X in your chart. So, why did you say that my A and B are another mistakes?

Your EWC:

http://www.forexfactory.com/attachme...1&d=1356699177

DB's EWC:

http://www.forexfactory.com/attachme...1&d=1356874664
daddybearforex. com
  • #21,855
  • Edited 12:37pm Dec 30, 2012 11:56am | Edited 12:37pm
BTW, are you saying besides A and B, all other wave counts are correct?

Quoting Luis Carlos
Another mistake...
http://www.forexfactory.com/attachme...1&d=1356887348
http://www.forexfactory.com/attachme...1&d=1356699177
daddybearforex. com
  • #21,856
  • Dec 30, 2012 12:03pm Dec 30, 2012 12:03pm
Quoting DaddyBear
BTW, seems to me, you know much more about EWP than Luis.
Thank you,sir. Not sure, just here to learn and improve my understanding. I post mostly to clarify my own thinking. Others ideas and analysis force me to reexamine my own.

I appreciate your analysis and charts as well as anyone who is willing to share. Clearly, you know more than I about EWP, which is why I follow this thread, as well as the input of other experienced and insightful people here including alien, Tim, Luis, et al. I embrace disagreements as it furthers our understanding and clarifies one's own outlook.

As per Friday, I closed my lg AUD at the close + 1 and +2, as I have no clear intuition as to the next move, so I am flat and looking for clarity. Was looking for bounce, did not get it, so I am out and waiting. I agree we are in a corrective phase now, but I do not have a clear outlook, so I will stay out until I do.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #21,857
  • Dec 30, 2012 12:40pm Dec 30, 2012 12:40pm
Quoting DaddyBear
The previous lows are based on the TF you are trading.
Wrong, previous lows never change. It does not matter what TF you are trading.

Your charts are very hard to read. I will simply skip.
  • #21,858
  • Dec 30, 2012 12:47pm Dec 30, 2012 12:47pm
Quoting mry2001
Wrong, previous lows never change. It does not matter what TF you are trading.

Your charts are very hard to read. I will simply skip.
You may be a longer terms trader. I trade M15 most of the time. Although I know previous daily lows, I wouldn't wait until that low to occur. In other words, I use M15/H1 lows for references.

The reason my charts are very hard to read is simply I use my custom indicators which you may not understand. I prefer not to use conventional indicators because I want to be able to stay ahead of the curve.
daddybearforex. com
  • #21,859
  • Dec 30, 2012 2:24pm Dec 30, 2012 2:24pm
Quoting DaddyBear
I guess it is their concept not an universally accepted rule. At least, I know R.N. Elliot did not include this in his EWP.
Are you sure? Is all in the book of R.N. Prechter.
  • #21,860
  • Dec 30, 2012 4:12pm Dec 30, 2012 4:12pm
Quoting Tim_isoara
Are you sure? Is all in the book of R.N. Prechter.
Can you indicate the page of that book in reference to your 7 times factor.
daddybearforex. com
6 traders viewing now