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  • #744,761
  • Jan 11, 2013 3:59am Jan 11, 2013 3:59am
Quoting Goldflake
yep..it just can't come below 3250 level.
who said that? anyway, it doesn't matter..
  • #744,762
  • Jan 11, 2013 3:59am Jan 11, 2013 3:59am
Quoting Alexone
I have a question here...I dont use Elliot in my analysis but im just curious...why not like this? (see pic) I mean how do u take highs and lows in Elliot wave analysis?
the first sequence that you show as 1-2-3-4 is too overlapping and does not follow the rules of a trending 5 wave move and would be deemed corrective on it's own.

But if you take the way I have shown in then you can class the first 1-2-3 as a fractal pattern of wave 1.

counting is an art form and if you gave me a chart I could make it look either bullish or bearish in minutes - which is why so many people argue about counts.

personally I use just some of the simple principles of correction and trend structures as part of my trading - I don't try and count every move on the chart most of which is corrective nonsense
  • #744,763
  • Jan 11, 2013 3:59am Jan 11, 2013 3:59am
Quoting Ihate2lose
Thank you very much infinitus for your explanation.
You are welcome :-)


You can go to the starting page of my thread http://www.forexfactory.com/showthread.php?t=329948 , scroll down in the first posting and you will find a lot of material about Elliott Wave
  • #744,764
  • Jan 11, 2013 3:59am Jan 11, 2013 3:59am
Quoting pips-scout
Morning mate you are up early.
baby woke me up so I may as well make a buck.
  • #744,765
  • Jan 11, 2013 4:01am Jan 11, 2013 4:01am
Quoting pips-scout
Morning mate you are up early.
the lure of opportunity after a big move
  • #744,766
  • Jan 11, 2013 4:02am Jan 11, 2013 4:02am
looks like long entry in Pound.
When Scalpers win, I lose and Vice varsa...
  • #744,767
  • Jan 11, 2013 4:02am Jan 11, 2013 4:02am
Quoting MaxDoom
the lure of opportunity after a big move
bastard..
  • #744,768
  • Jan 11, 2013 4:03am Jan 11, 2013 4:03am
Quoting ill_be_back
out @ 59
short again @ 69
A good trader follows his rules, but great trader knows when to break them
  • #744,769
  • Jan 11, 2013 4:09am Jan 11, 2013 4:09am
Quoting KiwiTrada
5891 holding cable G/C and Geppy but aussie is at critical level possibly H&S printed considering I think kiwi has already showed her hand and rolled over only held by 50sma presently if she drops through will be very good friday for me
Yip I see it down there as well.

Already out for +20 from the break,will see if there is a pull back fore re-entry.

Wish I had the patience that you guys have some times.

Will see what happens.Expecting a slight bounce here.

Happy pipping

We miss 100% of the shots we don't take
  • #744,770
  • Jan 11, 2013 4:10am Jan 11, 2013 4:10am
Quoting MaxDoom
the first sequence that you show as 1-2-3-4 is too overlapping and does not follow the rules of a trending 5 wave move and would be deemed corrective on it's own.

But if you take the way I have shown in then you can class the first 1-2-3 as a fractal pattern of wave 1.

counting is an art form and if you gave me a chart I could make it look either bullish or bearish in minutes - which is why so many people argue about counts.

personally I use just some of the simple principles of correction and trend structures as part of my trading - I...


basically YES,

but in a leading diagonal you have overlap in waves 1 and 4 but nevertheless waves 1, 3 and 5 are impulsive


In an ending diagonal you have wave 1 and 4 overlap too, but most of the time wave 1, 3 and 5 show corrective structure
  • #744,771
  • Jan 11, 2013 4:14am Jan 11, 2013 4:14am
Quoting ill_be_back
short again @ 69
out @73
goodnite eveyone
A good trader follows his rules, but great trader knows when to break them
  • #744,772
  • Jan 11, 2013 4:19am Jan 11, 2013 4:19am
GBPUSD and AUDUSD have been giving back a bit...
i dont see why EURUSD wouldnt too... just a matter of time....
but 1.32 would be decent, maybe before going back to 1.33...

No steam at the moment, the guys are just playing money between a roof and a floor...
  • #744,773
  • Jan 11, 2013 4:19am Jan 11, 2013 4:19am
E/U short at 1:32800
  • #744,774
  • Jan 11, 2013 4:28am Jan 11, 2013 4:28am
Portuguese CPI (MoM) Actual:0.00%
Forecast:
Previous:-0.30%


Importance:Currency:EURSource Of Report:INE - National Institute of Statistics (Release URL)

Good news for eur, I hope Italian bond will also be positive.
  • #744,775
  • Jan 11, 2013 4:36am Jan 11, 2013 4:36am
It's quite obvious what is going on here, the bulls are running out of steam and the bears are watching out closely, once they feel bulls are too exhausted, boom! A big move down, probably towards the 1.316x.

In case bulls are able to push the pair towards and beyond 1.33, the above scenario is no longer valid.

As far my trading is concerned, I'm waiting for 1.3245 to be cleared to short or 1.3310 to long.
  • #744,776
  • Jan 11, 2013 4:38am Jan 11, 2013 4:38am
Quoting fxmasterdxb
It's quite obvious what is going on here, the bulls is running out of steam and the bears is watching out closely, once they feel bulls are too exhausted, boom! A big move down, probably towards the 1.316x.

In case bulls are able to push the pair towards and beyond 1.33, the above scenario is no longer valid.

As far my trading is concerned, I'm waiting for 1.3245 to be cleared to short or 1.3310 to long.
Same levels : we are in the "flat zone". Wait for breakout as i did for 1.3125 level yesterday.

1.3250 is the minor support, 1.3300 is the major resistance.
  • #744,777
  • Jan 11, 2013 4:40am Jan 11, 2013 4:40am
Quoting fxmasterdxb
It's quite obvious what is going on here, the bulls are running out of steam and the bears are watching out closely, once they feel bulls are too exhausted, boom! A big move down, probably towards the 1.316x.

In case bulls are able to push the pair towards and beyond 1.33, the above scenario is no longer valid.

As far my trading is concerned, I'm waiting for 1.3245 to be cleared to short or 1.3310 to long.
I wouldn't get too eager waiting for the bears, this is probably just consolidation after a big move. Looking for a push into 1.33, then onto 1.34. Longer term, if we clear 1.3475 then 1.4+ is open
  • #744,778
  • Jan 11, 2013 4:44am Jan 11, 2013 4:44am
On another note, u/j weekly chart is begging for a retrace! Considering the swing low to swing high for the move, a 23.6 Fib retracment seems quite possible, I have taken a small position shorting @ 89.10 targeting 87, I will keep adding along the road shall I find my self on the right path
  • #744,779
  • Jan 11, 2013 4:45am Jan 11, 2013 4:45am
Price convergence, volume decreases, end of EU morning session... next big volume will give the move
  • #744,780
  • Jan 11, 2013 4:46am Jan 11, 2013 4:46am
Narrow range, tick count progressivley falling off and meaningless chop.Untradeable. Waiting.
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