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Help Me Establish The GbpUsd After Dinner Club 40 replies

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  • #5,541
  • Aug 22, 2013 6:46am Aug 22, 2013 6:46am
Quoting Mad Russian
maybe retrace i have 1.3333-4 level in play right now , anybody has different ?
3325
Those who say it cannot be done should not interrupt those who are doing it
  • #5,542
  • Aug 22, 2013 6:49am Aug 22, 2013 6:49am
Quoting Mad Russian
how many waves we had down on this sell off any one??
This is wave 4 of wave 5 of move down from tuesday high.
I suspect we are now starting C wave of 4.
Max up should be 3325
After that, downside measured target for end of wave 5 should be 3280/90 area
Those who say it cannot be done should not interrupt those who are doing it
  • #5,543
  • Aug 22, 2013 6:51am Aug 22, 2013 6:51am
sOMETHING LIKE THAT POSSIBLE
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  • #5,544
  • Aug 22, 2013 6:55am Aug 22, 2013 6:55am
Just made the last trade of the day:

Trend is down, prices break the bearish trend line.

The trend is still down until prices test the recent low or an undershoot or an overshoot.

Prices forms a double top bear flag, yes a double top bear flag, not a bear flag: prices pull back, turn again in the direction of the trend and then pulls back again to test the previous pullback forming a dtbf.

I entry one pip below the bar with a SL 1 pip above it, risked 6 pips made 5
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Wherever you go, there you are.
  • #5,545
  • Aug 22, 2013 6:57am Aug 22, 2013 6:57am
Quoting PipTrapper
{quote} This is wave 4 of wave 5 of move down from tuesday high. I suspect we are now starting C wave of 4. Max up should be 3325 After that, downside measured target for end of wave 5 should be 3280/90 area
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Those who say it cannot be done should not interrupt those who are doing it
  • #5,546
  • Aug 22, 2013 6:59am Aug 22, 2013 6:59am
Quoting Mad Russian
sOMETHING LIKE THAT POSSIBLE {image}
Yes but H/S neckline has to be retested first before drop to measured target
and I think we will get that retest in the form of an abc correction after wave 5 completion.
We shall see. could be an abc flat if the market is bearish enough... or maybe even a skewed falling abc
Those who say it cannot be done should not interrupt those who are doing it
  • #5,547
  • Aug 22, 2013 7:01am Aug 22, 2013 7:01am
Quoting PipTrapper
{quote} This is wave 4 of wave 5 of move down from tuesday high. I suspect we are now starting C wave of 4. Max up should be 3325 After that, downside measured target for end of wave 5 should be 3280/90 area
Quoting Mad Russian
sOMETHING LIKE THAT POSSIBLE {image}
Thanks for the warning, I will watch carefuly that level..
  • #5,548
  • Aug 22, 2013 7:06am Aug 22, 2013 7:06am
Quoting PipTrapper
{quote} Yes but H/S neckline has to be retested first before drop to measured target and I think we will get that retest in the form of an abc correction after wave 5 completion. We shall see. could be an abc flat if the market is bearish enough... or maybe even a skewed falling abc

Happy to have EW club on board , for advice, i still cant wrap my head around it , all those different corrections confusing me
  • #5,549
  • Aug 22, 2013 7:08am Aug 22, 2013 7:08am
Quoting Mad Russian
{quote} Happy to have EW club on board , for advice, i still cant wrap my head around it , all those different corrections confusing me
Why do you guys think they work?
Wherever you go, there you are.
  • #5,550
  • Aug 22, 2013 7:08am Aug 22, 2013 7:08am
Quoting PipTrapper
{quote} This is wave 4 of wave 5 of move down from tuesday high. I suspect we are now starting C wave of 4. Max up should be 3325 After that, downside measured target for end of wave 5 should be 3280/90 area
¿does this apply well for you? I mean, Elliot in small frames like 1 hour. I would like to learn about it but I doubt it, as I see that the system is quite complex, so I'm afraid to make the things more difficult than they are.
  • #5,551
  • Aug 22, 2013 7:09am Aug 22, 2013 7:09am
Quoting milam
{quote} Why do you guys think they work?
i think mass psychology
  • #5,552
  • Aug 22, 2013 7:10am Aug 22, 2013 7:10am
Quoting milam
{quote} Why do you guys think they work?
Elliott concluded that the markets moved in a repetitive pattern of waves. He attributed this action to the mass psychology of the marke
  • #5,553
  • Aug 22, 2013 7:13am Aug 22, 2013 7:13am
Quoting Ambar
{quote} ¿does this apply well for you? I mean, Elliot in small frames like 1 hour. I would like to learn about it but I doubt it, as I see that the system is quite complex, so I'm afraid to make the things more difficult than they are.
There is no need to use EW to trade small TF, but I use it for added confirmation.
EW is not a science and will never tell you where price will go to the pip.
a 5 wave impulse is easy to read. It is the corrections that become very complex. I am not very good at them but I keep practicing.
Those who say it cannot be done should not interrupt those who are doing it
  • #5,554
  • Aug 22, 2013 7:13am Aug 22, 2013 7:13am
Quoting Mad Russian
{quote} i think mass psychology
Interesting.

This was from Schick today, he makes me laugh. His comment.

http://www.forexfactory.com/showthre...34#post6910534
Wherever you go, there you are.
  • #5,555
  • Aug 22, 2013 7:15am Aug 22, 2013 7:15am
Quoting milam
{quote} Why do you guys think they work?
I don't "think" they work. I know they do
...and I know because I have been measuring with them for long enough to know and I see the results.
It is not as easy as you believe at first, but with practice, you are able to identify them better.
Those who say it cannot be done should not interrupt those who are doing it
  • #5,556
  • Aug 22, 2013 7:18am Aug 22, 2013 7:18am
Quoting PipTrapper
{quote} I don't "think" they work. I know they do ...and I know because I have been measuring with them for long enough to know and I see the results. It is not as easy as you believe at first, but with practice, you are able to identify them better.
I see, today I was reading about wolfe waves, they also represent mass Psychology, also interesting.
Wherever you go, there you are.
  • #5,557
  • Aug 22, 2013 7:21am Aug 22, 2013 7:21am
Quoting milam
{quote} I see, today I was reading about wolfe waves, they also represent mass Psychology, also interesting.
I have not studied them as of yet. Do you have a link?
Those who say it cannot be done should not interrupt those who are doing it
  • #5,558
  • Aug 22, 2013 7:23am Aug 22, 2013 7:23am
i think Gann Elliot , fib, and candlesticks can make you a good technician in charts , and trader , if you can wrap that in your head
  • #5,559
  • Aug 22, 2013 7:24am Aug 22, 2013 7:24am
Quoting PipTrapper
{quote} I don't "think" they work. I know they do ...and I know because I have been measuring with them for long enough to know and I see the results. It is not as easy as you believe at first, but with practice, you are able to identify them better.
¿have you got any link to learn about it?? ¿should I start learning the big frames or can I start with 1h and 15 m??? ¿do you bother if I ask you a lot?
  • #5,560
  • Aug 22, 2013 7:27am Aug 22, 2013 7:27am
Quoting Mad Russian
{quote} Elliott concluded that the markets moved in a repetitive pattern of waves. He attributed this action to the mass psychology of the marke
Correct. I believe another name for the mass psychology is "Lemmings"
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