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  • #790,501
  • Apr 22, 2013 10:25am Apr 22, 2013 10:25am
Quoting Tom_D_Trader
Ellioticians could disagree, but I just dont care. {image}
I think about a bounce @ 1.3001 (blue prediction) or @ 1.2962 (green prediction)

may be this
Attached Image (click to enlarge)
Click to Enlarge Name: Elliott.png Size: 90 KB
  • #790,502
  • Apr 22, 2013 10:26am Apr 22, 2013 10:26am
What already? ITALY PRESIDENT NAPOLITANO THREATENS TO RESIGN IF POLITICIANS FAIL TO MEET RESPONSIBILITIES ON REFORMS. Needs his nap
Trade smaller than rational because the market is irrational...
  • #790,503
  • Apr 22, 2013 10:29am Apr 22, 2013 10:29am
EUR Tech trader I follow

Short @67

Short came close to the recent range lows by 1.3000 today. A scraggly looking topping formation is threatened with daily Slow Stochs having rolled over and the upper 21-day Bolli rejecting recent range highs. A break below the 21-DMA, last by 1.2970, would signal a slide toward the lower 21-day Bolli just below our target.
Trade smaller than rational because the market is irrational...
  • #790,504
  • Apr 22, 2013 10:30am Apr 22, 2013 10:30am
Quoting Schickeria
may be this {image}
Y, but thats a small timeframe. I am watching whole cycle starting 24.7.2012. In this timeframe, imo it looks somehow like this. ,297 ,303 ,291, break.
Attached Image (click to enlarge)
Click to Enlarge Name: h4pred.gif Size: 30 KB
"I know one thing, that I know nothing." Sokrates
  • #790,505
  • Apr 22, 2013 10:30am Apr 22, 2013 10:30am
Quoting TraderRookie
What system is best for trading Forex ?
experience maybe?
great posters in here like EurotraderJD, TomD, Maxdoom, etc2 have trade for many years to reach their level of trading mastery such as now.

and as far as I know many (if not most) beginner traders like you (and me) bound to loose some (if not much) of our money in the first year of trading before able to find the right trading system / style that fit with ourselves.
and one of the most important thing in trading, need to be able to control our greed.
I hope this helps
  • #790,506
  • Apr 22, 2013 10:30am Apr 22, 2013 10:30am
Quoting Schickeria
{quote} I think about a bounce @ 1.3001 (blue prediction) or @ 1.2962 (green prediction) may be this
That's another that I'm keeping an eye on, too. The 1.3004 area for next potential bounce.
Attached Image (click to enlarge)
Click to Enlarge Name: anotherarea.gif Size: 29 KB
Time turns trend. - W.D. Gann
  • #790,507
  • Apr 22, 2013 10:31am Apr 22, 2013 10:31am
Quoting TraderRookie
somebody who can advise me a little in a private message would be a great help
PM is unlocked ATM, You just need a few more posts so that a moderator could promote you to a member & that unlocks PM.

to your journey to become a good trader.
  • #790,508
  • Apr 22, 2013 10:31am Apr 22, 2013 10:31am
very nice falling channel formed by high from friday and today's local around 0310 est... utl and ltl very well respected. another factor: have one of those days with no really bad news; too many people thinking same thing for variety of reasons, that it has to turn around. not what happens, most cases.
  • #790,509
  • Apr 22, 2013 10:38am Apr 22, 2013 10:38am
My long @48 is starting to smile.

Glad I didnt use a SL.

30M PA may provide demand zone at 43 so We will see if it turns to green pips on a blast through

Also glad that I followed the MM Price Saturation Zone and didnt add another short on top of the one I have @1.2990. Even though the indos at the time said Ms Market is going down. She ALWAYS laughs at what I think and sometimes plays tricks on the indos.

MM is the only constant...
Trade smaller than rational because the market is irrational...
  • #790,510
  • Apr 22, 2013 10:40am Apr 22, 2013 10:40am
goal is 3156
31566 H1 trendlne
----- Dragonfly out in the sun you know what I mean, don't you know
  • #790,511
  • Apr 22, 2013 10:41am Apr 22, 2013 10:41am
Quoting sophiaphia
goal is 3156 31566 H1 trendlne
1,3154 here, just to take profit, but not a point of reversal.
COT: The precious data ignored
  • #790,512
  • Apr 22, 2013 10:42am Apr 22, 2013 10:42am
Quoting Schickeria
WRONG!!!!
Well in fact I do care a bit. I find it quite funny how some Ellioticians stick to dogmatic interpretation of Elliots work. Like a church . Elliot made his great work examining behaviour of 1930s equities market. Pardon me beeing so bold, but I dare to say 2012 FX market has "a bit" different structure. One thing which is "a bit" different, is volatility. So waves can pretty easily overlap. Whole Elliot principle tries to examine cyclical behaviour of market. I think Mr. Elliot wouldnt be glad if he saw you claiming behaviour of market is still the same 90 years later.

T
"I know one thing, that I know nothing." Sokrates
  • #790,513
  • Apr 22, 2013 10:45am Apr 22, 2013 10:45am
THINKING about a short here. Even though indos go with long.

HSR @50 is tough cookie and indos are always backward looking.
Trade smaller than rational because the market is irrational...
  • #790,514
  • Apr 22, 2013 10:46am Apr 22, 2013 10:46am
Quoting Tom_D_Trader
{quote} Well in fact I do care a bit. I find it quite funny how some Ellioticians stick to dogmatic interpretation of Elliots work. Like a church . Elliot made his great work examining behaviour of 1930s equities market. Pardon me beeing so bold, but I dare to say 2012 FX market has "a bit" different structure. One thing which is "a bit" different, is volatility. So waves can pretty easily overlap. Whole Elliot principle tries to examine cyclical behaviour of market. I think Mr. Elliot wouldnt be glad if he saw you claiming behaviour of market...
And i don't know how EW can really work, always been skeptical about it.

I always preferred reacting to a move than predicting one.

But it seems to work for a few people and i've seen a couple of traders who were profitable with it.
COT: The precious data ignored
  • #790,515
  • Apr 22, 2013 10:48am Apr 22, 2013 10:48am
Quoting grand_dra9on
{quote} experience maybe? great posters in here like EurotraderJD, TomD, Maxdoom, etc2 have trade for many years to reach their level of trading mastery such as now. and as far as I know many (if not most) beginner traders like you (and me) bound to loose some (if not much) of our money in the first year of trading before able to find the right trading system / style that fit with ourselves. and one of the most important thing in trading, need to be able to control our greed. I hope this helps
greed and emotions . when you see red numbers on your position you begin to be scared and in 1-2 min you get out of that position .
Make choices and don't look back !
  • #790,516
  • Apr 22, 2013 10:50am Apr 22, 2013 10:50am
Quoting Tom_D_Trader
{quote} You dont have turned on Private messaging system, check your options. Let me give you the best advice possible: 95% of retail traders loose. Do not trust anybody, especially me. It takes lots of time and effort to make success in this bussiness. For basic technical overview, try to check babypips.com. For fundamental knowledge, read, read, read, read, read,.... Takes nothing less than your life. T
I actually did enable it, I also can't send you anything.. I just turned on the email function as well no idea why it's not possible to send a private message but I will find out

p.s. I guess becauase I am a new member I have to earn "points" to get full membership.. all my messages are under review "great" but I understand why they do this..
  • #790,517
  • Apr 22, 2013 10:57am Apr 22, 2013 10:57am
Quoting kuroro001
{quote} And i don't know how EW can really work, always been skeptical about it.
Sure it works. It is the very base of my trading system. I mean Tom waves . In fact it is nothing less than psychological analysis. You see, I consider market beeing conscious. Yeah, I am nuts. And ehh, quite hard to explain it in english, but lets say, if market is living beast, you can somehow examine its pulse, or life rythm, if you wish. And this is where Elliot joins the party. Those waves we see in charts are result of energetic shocks to the market. These energetic shocs come from fundamental news, but since insider trading is here, they often start before we know cause of the shock. So, the system reacts in simmilar waves if has simmilar types of shocks. So, what Elliot was looking at, was analysis of different types of pulses/shocks. FX market obviously has different pulse than stock exchange market. Theory goes quite far, I can expand on weekend if you wish.

T
"I know one thing, that I know nothing." Sokrates
  • #790,518
  • Apr 22, 2013 11:08am Apr 22, 2013 11:08am
EURUSD Bullish Engulfing Hourly Chart

http://www.myfxideas.com/wp-content/...fingHourly.gif

Resistance: 1.3056 strong / 1.3091 moderate / 1.3131 minor
Support: 1.3015 moderate / 1.2981 minor / 1.2940 minor

Market bias for EURUSD is bearish with prices under a strong resistance at 1.3056. Hourly candlesticks however have a mid level reversal pattern, Bullish Engulfing. Look for a close above the Pivot Point, 1.3056, for a run to 1.3091 with stop losses just below the patterns low. Break of 1.3091 could lead to a market rally for 1.3131.
Trade smaller than rational because the market is irrational...
  • #790,519
  • Apr 22, 2013 11:13am Apr 22, 2013 11:13am
Check that last H4 candle. Bulls just wont give up and unfortunately, I have to go. Will be watching from phone. Target ,297 still valid for today, but less and less with every minute.

Good luck and cya tomorrow @ LO,

T
"I know one thing, that I know nothing." Sokrates
  • #790,520
  • Apr 22, 2013 11:14am Apr 22, 2013 11:14am
Quoting EuroTraderJD
EURUSD Bullish Engulfing Hourly Chart {image} Resistance: 1.3056 strong / 1.3091 moderate / 1.3131 minor Support: 1.3015 moderate / 1.2981 minor / 1.2940 minor Market bias for EURUSD is bearish with prices under a strong resistance at 1.3056. Hourly candlesticks however have a mid level reversal pattern, Bullish Engulfing. Look for a close above the Pivot Point, 1.3056, for a run to 1.3091 with stop losses just below the patterns low. Break of 1.3091 could lead...
To me it's bullish....waiting for the run up now.

I'll skip the bearish part and concentrate on the bullish one, at least until we reach 1,3100
COT: The precious data ignored
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