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  • #792,781
  • Apr 30, 2013 4:12am Apr 30, 2013 4:12am
Quoting Tom_D_Trader
Hi guys, am still out. Who was talking about those holidays? Best thing to do, dunno how it looks at your place, but beautifull weather here in Czech. Yet again, silly chart and ellioticians could disagree, but I just dont care . Anyway, PA may do whatever she wants now. GL, T {image}
Didn't know that e.w. principle could be used on FX. I just finished reading his biography yesterday actually. I didn't know that he was fluent in Spanish and lived in Mexico most of his adult live. And wrote books about opening up a tea room.

Do you think that e.w. is useful for FX sideway markets?
Luck has no place in trading. Leave that for the poker table.
  • #792,782
  • Apr 30, 2013 4:14am Apr 30, 2013 4:14am
Quoting tomspin
{quote} seems like you are very strongly biased, not my prob of course but why would you build position ahead of such an important and anticipated ECB meeting???
Luv story with Draghi...he knows things
COT: The precious data ignored
  • #792,783
  • Apr 30, 2013 4:17am Apr 30, 2013 4:17am
Quoting tomspin
{quote} seems like you are very strongly biased, not my prob of course but why would you build position ahead of such an important and anticipated ECB meeting???
I think ECB is not going to cut any rate.
and FED is going to change their talk to extending QE not stopping it.

in other words. FED is going to deliver => EURO up
ECB is not going to deliver. => Euro more up.

We will end 2 of may close to 1.32
"You're solid gold, see you in hell"
  • #792,784
  • Apr 30, 2013 4:18am Apr 30, 2013 4:18am
Quoting kuroro001
{quote} Luv story with Draghi...he knows things

LOL... you have a good sense of humor! I love sarcasm.. FF is more entertaining than talk radio at times.

By the way... So, far your PA is pretty much spot on. You must have developed a 6th sense for the fx market.
Luck has no place in trading. Leave that for the poker table.
  • #792,785
  • Apr 30, 2013 4:20am Apr 30, 2013 4:20am
Quoting Pair-me-up
Do you think that e.w. is useful for FX sideway markets?
Principle for sure. Elliot was more of a technical trader, he was just exploring how market reacts on energetic shocks, but you can connect his work with market psychology analysis and imo it has good results. I mean, just take Elliots idea and his view on market pulse and adapt it to FX. My accounts are profitable so far, so ... . Works somehow.

T
"I know one thing, that I know nothing." Sokrates
  • #792,786
  • Apr 30, 2013 4:23am Apr 30, 2013 4:23am
Quoting SugarPink
{quote} I think ECB is not going to cut any rate. and FED is going to change their talk to extending QE not stopping it. in other words. FED is going to deliver => EURO up ECB is not going to deliver. => Euro more up. We will end 2 of may close to 1.32
We had a string of bad data from EU which was main concern among ECB and main reason for cut - from the fundamental point of view there are more odds for cut then not - FED is unimportant at this point, be careful what you wish for, Big boys playing range atm and there is no positioning atm which can be seen in PA so such a confidence about a direction of the market can be very dangerous, good luck anyway - I am standing aside for now.
I trade outcomes not my wishes.
swing it!
  • #792,787
  • Apr 30, 2013 4:25am Apr 30, 2013 4:25am
Quoting SugarPink
{quote} I think ECB is not going to cut any rate. and FED is going to change their talk to extending QE not stopping it. in other words. FED is going to deliver => EURO up ECB is not going to deliver. => Euro more up. We will end 2 of may close to 1.32
Oh
  • #792,788
  • Apr 30, 2013 4:29am Apr 30, 2013 4:29am
Quoting tomspin
{quote} We had a string of bad data from EU which was main concern among ECB and main reason for cut - from the fundamental point of view there are more odds for cut then not - FED is unimportant at this point, be careful what you wish for, Big boys playing range atm and there is no positioning atm which can be seen in PA so such a confidence about a direction of the market can be very dangerous, good luck anyway - I am standing aside for now. I trade outcomes not my wishes.
Interbank lending and repo market is perfectly fine. There is no reason to a rate cut.
"You're solid gold, see you in hell"
  • #792,789
  • Apr 30, 2013 4:29am Apr 30, 2013 4:29am
Quoting Pair-me-up
{quote} LOL... you have a good sense of humor! I love sarcasm.. FF is more entertaining than talk radio at times. By the way... So, far your PA is pretty much spot on. You must have developed a 6th sense for the fx market.
Indeed, FF is more fun than listening to the radio

Cheers, i just read the chart without any fancy things on it.

And just have a look at the 5mn candle during the EU CPi news.
It hit support inside 1,305x...then reverse with bullish engulfing candle with ultra high vol (highest of the day so far)...it's buyers.

At this point if we clear 1,3090 we may hit back the top.

And about the 6th sense i wish i had one , but i've learned to "read" the chart on my own. I have stopped reading websites or books on how to trade because to me if this fellas were that good at trading they won't spend time writing books, but instead make millions trading the market.
Again it's only my point of view
COT: The precious data ignored
  • #792,790
  • Apr 30, 2013 4:29am Apr 30, 2013 4:29am
Quoting SugarPink
{quote} I think ECB is not going to cut any rate. and FED is going to change their talk to extending QE not stopping it. in other words. FED is going to deliver => EURO up ECB is not going to deliver. => Euro more up. We will end 2 of may close to 1.32
they might cut or not but it might not woth for risk slip count to be very high. here 1m min chart from 5-5-2011 (ECB day))
Attached Image
Mohan
  • #792,791
  • Apr 30, 2013 4:29am Apr 30, 2013 4:29am
Quoting tomspin
{quote} We had a string of bad data from EU which was main concern among ECB and main reason for cut - from the fundamental point of view there are more odds for cut then not - FED is unimportant at this point, be careful what you wish for, Big boys playing range atm and there is no positioning atm which can be seen in PA so such a confidence about a direction of the market can be very dangerous, good luck anyway - I am standing aside for now. I trade outcomes not my wishes.
roger those words - it has more to do this week and probably much more in range bound fx
finding A M S
  • #792,792
  • Apr 30, 2013 4:31am Apr 30, 2013 4:31am
I highly recommend not to trade EUR-Pairs this week anymore unless you are a crack or pretty sure in what you are doing... Especially for the newcomers and beginners...

just my 2 cents...

I'll take the extended holiday ...

cheers, see you on monday.

best,
Jonas
Hero calls followed by margin calls...
  • #792,793
  • Apr 30, 2013 4:32am Apr 30, 2013 4:32am
Quoting Tom_D_Trader
{quote} Principle for sure. Elliot was more of a technical trader, he was just exploring how market reacts on energetic shocks, but you can connect his work with market psychology analysis and imo it has good results. I mean, just take Elliots idea and his view on market pulse and adapt it to FX. My accounts are profitable so far, so ... . Works somehow. T
Hmmm interesting. And that is good that your accounts are growing! I understand the concept of the pulse waves 1-3-5 and the corrective waves 2-4 and I understand the a-b-c the way it is explained in the book. However, when I look at my charts that are on my computer, I have know idea where one wave starts and the other wave terminates. In the book it is just over simplified straight lines. You will have to teach me how to recognize the waves correctly. I hear that e.w. is great for trend following!
Luck has no place in trading. Leave that for the poker table.
  • #792,794
  • Apr 30, 2013 4:36am Apr 30, 2013 4:36am
Quoting kuroro001
At this point if we clear 1,3090 we may hit back the top.
Agree with ,309, but eh, that actually cant happen because my SL is there . Nah, I may chicken out soon. Dont like PA staying above 3075. Should be down by now.

Quoting kuroro001
I have stopped reading websites or books on how to trade because to me if this fellas were that good at trading they won't spend time writing books, but instead make millions trading the market.
This is true, but some of them may teach you something. I love books, you just need to read the right ones. Actually, I am coming back to university to finish masters. 2 years left. Hoping to be more smart and finally understand at least a bit of what is going on around here .
"I know one thing, that I know nothing." Sokrates
  • #792,795
  • Apr 30, 2013 4:36am Apr 30, 2013 4:36am
Quoting Mr.C
{quote} Good late morning traders. EUR/USD - TP1 @ 1,3093 for 100 pips reached. SL has been moved to +1. {image}
Good day guys. Killing EU long with 88 pips (1/2,2 RR). Looks like it is way easier for the pair to go down than up today. But I wouldn't be so sure that this will last for long. Will check the situation tomorrow and probably re-enter.
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Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #792,796
  • Apr 30, 2013 4:37am Apr 30, 2013 4:37am
Quoting kuroro001
{quote} Indeed, FF is more fun than listening to the radio Cheers, i just read the chart without any fancy things on it. And just have a look at the 5mn candle during the EU CPi news. It hit support inside 1,305x...then reverse with bullish engulfing candle with ultra high vol (highest of the day so far)...it's buyers. At this point if we clear 1,3090 we may hit back the top. And about the 6th sense i wish i had one , but i've learned to "read" the chart on my own. I have stopped reading websites or books on how to trade because to me if...

I too fancy the idea of reading the charts with my eyes only. I am not a big fan of the analysis paralysis noodles everywhere on the screen style... lol

I also, agree with the thing about books and websites. I have only found a few books that are interesting. One is the encyclopedia of chart patterns. Some of it still sucks though. lol I hate books that lolligag and don't get to the point.
Alright.. cheers mate!
Luck has no place in trading. Leave that for the poker table.
  • #792,797
  • Apr 30, 2013 4:38am Apr 30, 2013 4:38am
Quoting SugarPink
{quote} Interbank lending and repo market is perfectly fine. There is no reason to a rate cut.
You are a funny guy....

http://www.zerohedge.com/news/2013-0...rbank-deposits

http://www.zerohedge.com/news/2013-0...asm-evaporates
swing it!
  • #792,798
  • Apr 30, 2013 4:42am Apr 30, 2013 4:42am
Quoting tomspin
gold....
yes watching like a hawk:nerd:
If you are new to Forex? Say Goodbye to your account!!
  • #792,799
  • Apr 30, 2013 4:43am Apr 30, 2013 4:43am
Quoting Tom_D_Trader
{quote} Agree with ,309, but eh, that actually cant happen because my SL is there . Nah, I may chicken out soon. Dont like PA staying above 3075. Should be down by now. {quote} This is true, but some of them may teach you something. I love books, you just need to read the right ones. Actually, I am coming back to university to finish masters. 2 years left. Hoping to be more smart and finally understand at least a bit of what is going on around here .

That's great that you will get your master's degree!
Luck has no place in trading. Leave that for the poker table.
  • #792,800
  • Apr 30, 2013 4:44am Apr 30, 2013 4:44am
Quoting Pair-me-up
However, when I look at my charts that are on my computer, I have know idea where one wave starts and the other wave terminates.
You need to set precise points for determining waves, so you dont get lost. For example I am usually exploring like three sets of waves. There are waves within waves within waves. Sometimes you see dolphin. Gimme second, I will send you an example.

edit:
Quoting Pair-me-up
{quote} That's great that you will get your master's degree!
Nah, I probably wont. It will end up like I study all subjects I like during first year, and once they start forcing me to study statistics accounting and taxes, I say fuck of . But I may be a bit smarter next year.

T
"I know one thing, that I know nothing." Sokrates
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