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Help Me Establish The GbpUsd After Dinner Club 40 replies

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The Club!

  • #7,241
  • Sep 9, 2013 11:28am Sep 9, 2013 11:28am
BTW

short @ 3272 2/10 EU


EURUSDCALL
  • #7,242
  • Sep 9, 2013 11:32am Sep 9, 2013 11:32am
Quoting PipTrapper
{quote} bang on my 3280/90 call. Now what? If I've charted it accurately, we have just completed wave 5 of C of larger wave 2. If so, correction is over and we are now set to start wave 3 or extend into another zigzag.

not so sure about it, may poke a bit higher
  • #7,243
  • Sep 9, 2013 11:38am Sep 9, 2013 11:38am
Quoting infinitus
{quote} not so sure about it, may poke a bit higher
Maybe to complete wave 5 of 5 of c of 2?

Anyway, here is the count if abc is already complete.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 58 KB


...and here is the alternate

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5a.png Size: 58 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #7,244
  • Sep 9, 2013 11:43am Sep 9, 2013 11:43am
Quoting PipTrapper
{quote} Agreed. Especially for LT position trades, one must allow for several hundred pips of drawdown with this pair and therefore adjust position size accordingly.
  • #7,245
  • Sep 9, 2013 11:46am Sep 9, 2013 11:46am
EURUSD, Daily, 2013 September 09
The market price has touched the middle line of BB today.
Volatility is coming back.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, Daily, 2013 September 09.jpg Size: 93 KB
  • #7,246
  • Sep 9, 2013 11:46am Sep 9, 2013 11:46am
Quoting infinitus
{quote} not so sure about it, may poke a bit higher
Markus, what sort of duration do you look for between wave 1 and 2's?

If PipTrapper is correct about wave 2 finishing as a diagonal zig zag, which I hope he is, then wave 1 would have taken 13 days and wave 2 basically 2 days.

Thoughts from either of you lads?
  • #7,247
  • Sep 9, 2013 11:56am Sep 9, 2013 11:56am
Quoting BoringIsGood
{quote} Markus, what sort of duration do you look for between wave 1 and 2's? If PipTrapper is correct about wave 2 finishing as a diagonal zig zag, which I hope he is, then wave 1 would have taken 13 days and wave 2 basically 2 days. Thoughts from either of you lads?
Hi big,

Based on my limited knowledge (based mostly on studying historical counts), wave 2s are not typically that much shorter than wave 1, but I have seen them that short. It all depends on the strength of the market sentiment at the time.
However, keeping with the norm, we should see a longer wave 2. This does not necessarily mean that we go higher though. This ABC could be the first wave of a flat abc wave 2... or even a 5 wave contracting triangle. Only time will tell.
Those who say it cannot be done should not interrupt those who are doing it
  • #7,248
  • Sep 9, 2013 11:59am Sep 9, 2013 11:59am
Quoting PipTrapper
{quote} Hi big, Based on my limited knowledge (based mostly on studying historical counts), wave 2s are not typically that much shorter than wave 1, but I have seen them that short. It all depends on the strength of the market sentiment at the time. However, keeping with the norm, we should see a longer wave 2. This does not necessarily mean that we go higher though. This ABC could be the first wave of a flat abc wave 2... or even a 5 wave contracting triangle. Only time will tell.
Or irregular :nerd:
  • #7,249
  • Sep 9, 2013 12:00pm Sep 9, 2013 12:00pm
Quoting BoringIsGood
{quote} Or irregular :nerd:
Yes of course
Those who say it cannot be done should not interrupt those who are doing it
  • #7,250
  • Sep 9, 2013 12:03pm Sep 9, 2013 12:03pm
Quoting PipTrapper
{quote} Maybe to complete wave 5 of 5 of c of 2? Anyway, here is the count if abc is already complete. {image} ...and here is the alternate {image}

the second one looks better

the yellow 3 in the first one looks not like a 5 waves
  • #7,251
  • Sep 9, 2013 12:07pm Sep 9, 2013 12:07pm
Quoting infinitus
{quote} the second one looks better the yellow 3 in the first one looks not like a 5 waves
Yes I agree. That's why I counted the alternate. It didn't look perfect, but I am sure we have both encountered not-so-perfect counts before and they turned out to be correct.
Those who say it cannot be done should not interrupt those who are doing it
  • #7,252
  • Sep 9, 2013 12:11pm Sep 9, 2013 12:11pm
Quoting BoringIsGood
{quote} Markus, what sort of duration do you look for between wave 1 and 2's? If PipTrapper is correct about wave 2 finishing as a diagonal zig zag, which I hope he is, then wave 1 would have taken 13 days and wave 2 basically 2 days. Thoughts from either of you lads?

Hi Big,


a wave 2 can retrace 100% of its preceding wave 1. Oftentimes, especially in Forex, we see deep retracing wave 2's, oftentimes 61.8 to around 76.4%. But we have also wittnessed very short wave 2's, only retracing 7-13% or so.

Every pattern is possible, only triangles you will not see.


Elliott, Prechter, Frost gave us no good indication of time. Gann is the right one to ask for time. So maybe Godim will help on the time aspect.


The nature of a wave 2 is to fool both the bulls and the bears. This may be the reason, why most wave 2's behave violent and retrace deep.
  • #7,253
  • Sep 9, 2013 12:25pm Sep 9, 2013 12:25pm
Quoting infinitus
{quote} Hi Big, a wave 2 can retrace 100% of its preceding wave 1. Oftentimes, especially in Forex, we see deep retracing wave 2's, oftentimes 61.8 to around 76.4%. But we have also wittnessed very short wave 2's, only retracing 7-13% or so.Every pattern is possible, only triangles you will not see. Elliott, Prechter, Frost gave us no good indication of time. Gann is the right one to ask for time. So maybe Godim will help on the time aspect. The nature of a wave 2 is to fool both the bulls and the bears. This may be the reason, why...
Too bad, I have next to no understanding of how to appropriately use Gann analysis.

Godim, any thoughts you'd like to share on the duration of the move from 1.3104 to 1.3280?

Godim, някакви мисли, които искате да споделите на продължителността на движение от 1.3104 до 1.3280?
  • #7,254
  • Sep 9, 2013 12:50pm Sep 9, 2013 12:50pm
Quoting BoringIsGood
{quote} Too bad, I have next to no understanding of how to appropriately use Gann analysis. Godim, any thoughts you'd like to share on the duration of the move from 1.3104 to 1.3280? Godim, някакви мисли, които искате да споделите на продължителността...
Rich Swannell

Attached Image (click to enlarge)
Click to Enlarge Name: TABLICA_01.png Size: 60 KB
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #7,255
  • Sep 9, 2013 12:55pm Sep 9, 2013 12:55pm
Quoting godim
{quote} Rich Swannell {image}
Nice. Thanks Godim.
Those who say it cannot be done should not interrupt those who are doing it
  • #7,256
  • Sep 9, 2013 12:57pm Sep 9, 2013 12:57pm
Quoting godim
{quote} Rich Swannell {image}
Elite Trader’s Secrets
Rich Swannell


Attached Image (click to enlarge)
Click to Enlarge Name: TABLICA_02.png Size: 154 KB
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #7,257
  • Sep 9, 2013 1:00pm Sep 9, 2013 1:00pm
Quoting godim
{quote} Rich Swannell {image}
Nice graph. I appreciate you sharing.
  • #7,258
  • Sep 9, 2013 2:24pm Sep 9, 2013 2:24pm
Closing Thoughts
Ozzie
09.09.13

this pair is of extreme interest to many, i hope we have all made a few bucks on it,
the way these markets have been, it would not surprise me to see the 161.8 despite the momentum divergences... (before a pause/retrace)
my stretch target for this pair on the H4 is closer to 9541...
but i doubt we get there without fundie backup (fed/syria/other)
I have been long since 91662

H4 chart

Attached Image (click to enlarge)
Click to Enlarge Name: ozzie final thoughts 09.09.13.png Size: 103 KB



... good fight, good night
90% of people, are wrong about 90% of everything, 90% of the time...
  • #7,259
  • Sep 9, 2013 3:01pm Sep 9, 2013 3:01pm
Quoting Schickeria
09. Sep. EUR/USD Pending Order's Short (3/3) 1. 1.3110 (larger size) 2. 1.3112 3. 1.3117
WTF what happened today about this strong upward move. i was not in the office ???
  • #7,260
  • Sep 9, 2013 3:18pm Sep 9, 2013 3:18pm
Quoting Schickeria
{quote} WTF what happened today about this strong upward move. i was not in the office ???
i'm surprised now
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