Euro/Dollar | Page 146 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Euro/Dollar discussion 9 replies

Iran to replace Dollar with Euro 10 replies

Iran replace dollar with euro 15 replies

Syria Threatens To Abandon Dollar For Euro 3 replies

euro against the dollar 0 replies

Attachments: Euro/Dollar
Exit Attachments

Euro/Dollar

  • #2,901
  • Jan 23, 2013 5:43am Jan 23, 2013 5:43am
and euro/dollar is going for 3361 atm, will we have another go at 3395/3400???
swing it!
  • #2,902
  • Jan 23, 2013 5:45am Jan 23, 2013 5:45am
Quoting tomspin
and euro/dollar is going for 3361 atm, will we have another go at 3395/3400???

Good.. I have my sell order to dump the whole lot at 3360....

Then its one more dip

THEN... we breakout higher...
  • #2,903
  • Jan 23, 2013 5:53am Jan 23, 2013 5:53am
simple, break or come back again

http://s1.postimage.org/vr19ty40f/euro.gif
image upload
swing it!
  • #2,904
  • Jan 23, 2013 6:08am Jan 23, 2013 6:08am
Quoting Crassius
60 People reading this thread and only three of us posting... don't some of you have some charts and ideas to share... You're welcome anyway.... but share away...
some people just like to read, some kill time between trades, I created this thread to have alternative to other places in FF, it even became your journal for some time, which is fine as well, I like to read eliot's even if I trade in a different way, always good to have perspective,
I made few bad calls especially in Q4 about gold 2000$ by end of the year, and SP500 but overall very happy from trading results, I thought this could bring more people to share and learn, well you cannot have everything,
Going to eat some lunch now, and then off to piste, having three day off and teaching my gf how not to fall on her ass
Catch you later bud,
Get them greenies
Tom
swing it!
  • #2,905
  • Jan 23, 2013 6:10am Jan 23, 2013 6:10am
Missed the fill on the lower order by half the F'ing spread.... Me being stingy....

Canceled the lower order... now that we have a bounce, I don't want to go back there.... if we do, trade is weaker than it was, and I don't want to add to a weaker trade... will go with half sized position....
  • #2,906
  • Jan 23, 2013 6:10am Jan 23, 2013 6:10am
Good Morning
Some traders say there are days that it’s better to stay out of the market.
For me yesterday was THE DAY…
In one session we had two 4H bearish pin bars and one 4H engulfing bull candle, we had bullish and bearish neighboring 1H bars ranging 100pips, we had ECB speaking with no reaction etc etc…
Simply – Trader’s nightmare

I hope today will be better and we can get some action.
I am leaving EURUSD for a while, getting really hard to trade, finding better opportunity on GBPUSD.
It looks like it found some solid ground on 1.5800 and this will be my card to play with today…
let it be...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 25 KB
Read Charts - Not Papers
  • #2,907
  • Jan 23, 2013 6:14am Jan 23, 2013 6:14am
Quoting halkins
It looks like it found some solid ground on 1.5800 and this will be my card to play with today…

Attachment

5800 VERY solid.... like pulling teeth to get a fifth wave in down there.... stops should be safe below.... With such a strong and long downtrend... I am hoping we can get a short squeeze fired up...

GL today...
  • #2,908
  • Jan 23, 2013 6:19am Jan 23, 2013 6:19am
Quoting Crassius
5800 VERY solid.... like pulling teeth to get a fifth wave in down there.... stops should be safe below.... With such a strong and long downtrend... I am hoping we can get a short squeeze fired up...

GL today...
Couldn't find better pair with such a "bounce potential" like GBPUSD.
Most other pairs stuck in narrow ranging zones..
Read Charts - Not Papers
  • #2,909
  • Jan 23, 2013 6:20am Jan 23, 2013 6:20am
Read the chart... says it all.
Attached Image
  • #2,910
  • Jan 23, 2013 6:32am Jan 23, 2013 6:32am
Quoting Crassius
Read the chart... says it all.

hmmm... I don't understand.
never used these "overlapping signs", I mean I can't see this...

-
Read Charts - Not Papers
  • #2,911
  • Jan 23, 2013 6:45am Jan 23, 2013 6:45am
Quoting halkins

hmmm... I don't understand.
never used these "overlapping signs", I mean I can't see this...

-

What bulls don't want to see is five waves going down.... the (operative) trend moves in five waves.... Waves aren't the same thing as swings.... you can't count swings and get any useful information(which screws up a lot of casual Elliott wannna-be's till they give up) ... you have to count waves... that adhere to the rules...

The rules say that that overlap locks in the move from the top at 5884 to the bounce area around 5845 as three waves... the move up from 5845 must now be a new wave.... it cant be wave 4 going down, because wave 4 cannot overlap.....

Until we see the overlap, the down move from 5884 to 5845 could be the first three waves of a five wave move.... and the move from 5845 up could be the 4th wave..... with overlap, it cant be... wave 4 cannot overlap... its a rule.

Therefor the move from 5884 to 5845 must stand on its own as three waves....

Since counter (operative) trend moves are three wave moves we can conclude that the down move in three waves from 5884 to 5845 is counter (operative) trend....

That means longs are with the (operative) trend... and that info alone is a big advantage...
  • #2,912
  • Jan 23, 2013 6:53am Jan 23, 2013 6:53am
Quoting Crassius
What bulls don't want to see is five waves going down.... the (operative) trend moves in five waves.... Waves aren't the same thing as swings.... you can't count swings and get any useful information(which screws up a lot of casual Elliott wannna-be's till they give up) ... you have to count waves... that adhere to the rules...

The rules say that that overlap locks in the move from the top at 5884 to the bounce area around 5845 as three waves... the move up from 5845 must now be a new wave.... it cant be wave 4 going down, because wave 4 cannot...
OK. yes, now I got your "overlapping" definition.
This makes sense, however "wave counting" never worked with me.
I noticed some strong trends might have 5, 7 or 9 waves. In my opinion 5 waves up 3 waves down is an "ideal" pattern which never works in live market conditions. Do you always have 5+3 pattern?
-
Read Charts - Not Papers
  • #2,913
  • Jan 23, 2013 7:11am Jan 23, 2013 7:11am
Quoting halkins
OK. yes, now I got your "overlapping" definition.
This makes sense, however "wave counting" never worked with me.
I noticed some strong trends might have 5, 7 or 9 waves. In my opinion 5 waves up 3 waves down is an "ideal" pattern which never works in live market conditions. Do you always have 5+3 pattern?
-
What gets very confusing is mistaking smaller (or larger) fractals as being all of the same degree. The happens in what Elliott called extensions. One of waves 1, 3 or five will usually be extended.... so it isn't uncommon.... corrective waves can also extend.

This arises because there is no set size for each fractal... that would be too stringent... trying to force the market into a box whose size we arbitrarily decide....

Two waves... one of a larger fractal and one of a smaller fractal can have similar size and amplitude.... so they should be counted as one inside the other, but that isn't always clear in real time.... it will become clear if you are very strict with the rules.... as bars draw themselves out it becomes clear that the only way the rules can be applied is to correctly understand the fractals.... which fits inside the other.... but you won't always know till later....

There is no method that can tell you exactly where the market is or where its going.... Elliott can give a decreasing cone of probabilities... it decreases as bars draw themselves out, and the rules start to zero in on fewer and fewer counts that can exists within a strict application of the rules....

And that is plenty to make money out of it....

Its too much to teach here of course, but maybe that gets you started... here is a page out of Prechter's book showing extended waves.....
Attached Image (click to enlarge)
Click to Enlarge Name: Bull Bear Extensions.png Size: 97 KB
  • #2,914
  • Jan 23, 2013 7:15am Jan 23, 2013 7:15am
Quoting Crassius

Its too much to teach here of course, but maybe that gets you started... here is a page out of Prechter's book showing extended waves.....
Sure, sure, I don't want to keep you distracted from trading.
It's never too late to learn something new...
I have to get deeper into this subject.
Maybe because my favourite time frames are small, it never worked as well with me like S/R or Fibonacci.

Thanx buddy...
Read Charts - Not Papers
  • #2,915
  • Jan 23, 2013 7:24am Jan 23, 2013 7:24am
Quoting Crassius

I am playing these against the bottom... 1.5801.. Stop below...

Stop moved to just below 5843...

If that gets taken out the market is forming some larger corrective pattern. I don't want to stick around for that... only a few pips risk now.... if it gets hit better to lose a paltry few pips and look for another opportunity... than hang onto a trade that gets into a sideways corrective grind....
  • #2,916
  • Jan 23, 2013 7:26am Jan 23, 2013 7:26am
Quicky 2 min video on eurodollar.
I totally agree with the guy.
Poor sound quality.

Inserted Video
Read Charts - Not Papers
  • #2,917
  • Jan 23, 2013 7:36am Jan 23, 2013 7:36am
Daily Market Update - 23 January 2013 - Alpar_i

Interesting GBPUSD charts starts from 3:50min

Inserted Video
Read Charts - Not Papers
  • #2,918
  • Jan 23, 2013 7:48am Jan 23, 2013 7:48am
Quoting Crassius
Stop moved to just below 5843...
Progressing nicely stop moved to 5850... just below entry...
Attached Image (click to enlarge)
Click to Enlarge Name: count.png Size: 5 KB
  • #2,919
  • Jan 23, 2013 7:53am Jan 23, 2013 7:53am
Quoting Crassius
Progressing nicely stop moved to 5850... just below entry...
I locked in some profits, and now my breakeven is on 5838.
It has some space to breath, hopefully the kick will break 1.5900
Read Charts - Not Papers
  • #2,920
  • Jan 23, 2013 8:02am Jan 23, 2013 8:02am
Quoting Crassius
Progressing nicely stop moved to 5850... just below entry...

Stop moved to 5862..
1 trader viewing now