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Help Me Establish The GbpUsd After Dinner Club 40 replies

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The Club!

  • #8,521
  • Sep 17, 2013 8:21am Sep 17, 2013 8:21am
Quoting Schickeria
{quote} 1.33538 once again...... fucking point {image} {image} {image}
  • #8,522
  • Sep 17, 2013 9:07am Sep 17, 2013 9:07am
Euro Kiwi

Daily
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Click to Enlarge Name: Euro Kiwi Daily 09.17.13.png Size: 51 KB
90% of people, are wrong about 90% of everything, 90% of the time...
  • #8,523
  • Sep 17, 2013 11:04am Sep 17, 2013 11:04am
based on structural breakdown in the chart I just decided to go short GU again ahead of FOMC. There's the guy from shOanda right in front, making sure my order gets executed fast

http://www.northmanfamily.com/mnorth...extmedium.jpeg
cryptocurrency everytime
  • #8,524
  • Edited 2:34pm Sep 17, 2013 11:17am | Edited 2:34pm
Quoting venzen
based on structural breakdown in the chart I just decided to go short GU again ahead of FOMC. There's the guy from shOanda right in front, making sure my order gets executed fast {image}
What price did you get in at?
I am short at 1.5906
Target open
No SL

GBPUSDCALL
Those who say it cannot be done should not interrupt those who are doing it
  • #8,525
  • Sep 17, 2013 11:29am Sep 17, 2013 11:29am
Quoting venzen
based on structural breakdown in the chart I just decided to go short GU again ahead of FOMC. There's the guy from shOanda right in front, making sure my order gets executed fast {image}

I hope you managed to get to the Chicago Pits when open- outcry trading was happening - I did and it was AN UNBELIEVABLE, UNFORGETTABLE EXPERIENCE
Trading Levels with WRBs
  • #8,526
  • Sep 17, 2013 11:36am Sep 17, 2013 11:36am
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"This is the Dec gold contract, and I have made some changes as gold is not turning as I have been expecting. What I thought we were not going to get, (expanded wave 4), is exactly what we could be in right now. Gold stock ETF's also have not acted like they should, for a impulse type bull market.

If we go back to the April 2013 bottom, we can see our first rally, and then another 3 wave plunge into late June 2013, around $1180. This bottom now has a high probability of getting taken out, in a downside breakout. The August 2013 top also supports the right shoulder, but I do not think we will get a super long 5th wave, as wave three is the longest at this time. Any further moves below $1270, will crash through another strong support level, as this same decline in the intraday charts, is fitting into a 1-2,1-2,1-2 count.

Time wise, I think it will take until the end of Sept before we see a clearer picture.

I am going to keep my wave 4 in Primary degree alive for now, as any counter rally will certainly come back up to the $1480 price level. "

Source: http://elliottwave5pointzeroreboot.blogspot.com
90% of people, are wrong about 90% of everything, 90% of the time...
  • #8,527
  • Sep 17, 2013 11:47am Sep 17, 2013 11:47am
Quoting Schickeria
{quote}
did you break EU
  • #8,528
  • Sep 17, 2013 12:20pm Sep 17, 2013 12:20pm
Quoting PipTrapper
{quote} What price did you get in at? I am in at 5906

PipTrapper,

I got in @ 1.5912 with my first order, the next (and larger) order was limit triggered @ 1.5897, but the action is completing above 1.5900 which is adding suspense... i have M5 PA in wave E of a triangle set to complete around 1.5917 and then down
cryptocurrency everytime
  • #8,529
  • Sep 17, 2013 12:33pm Sep 17, 2013 12:33pm
Quoting Sober_Colm
{quote} Do you mean intra-day? Are you expecting a LL before bull returns to head past London high? I think on the whole MMs are accumulating GBP shorts so definite possibility of seeing 6470-6500 but I still think GBP is in for a correction in the long term. EDIT: MMs have already taken out the low which is suggestive of an upcoming bull move past the London high, possibly on the data release so, at +50p, will move sl to BE & start over if stopped out as looking like MMs may use data to trend north for the remainder of...
I meant Swing . Above monthly high.
Markets are not Random, they are designed!
  • #8,530
  • Edited 1:03pm Sep 17, 2013 12:42pm | Edited 1:03pm
Quoting theDHT
{image} "This is the Dec gold contract, and I have made some changes as gold is not turning as I have been expecting. What I thought we were not going to get, (expanded wave 4), is exactly what we could be in right now. Gold stock ETF's also have not acted like they should, for a impulse type bull market. If we go back to the April 2013 bottom, we can see our first rally, and then another 3 wave plunge into late June 2013, around $1180. This bottom now has a high probability of getting taken out, in a downside breakout. The August 2013 top also...

i read this exact blog earlier today and have been following for about 3 years. The blogger is contrarian (which is ok by me) and an experienced EW analyst. Always useful to get a non-consensus view from him and follow his counting which he explains frequently.

Interesting thing about this guy is that he argues for meticulous attention to and absolute certainty about "wave degree". It is something we forex traders rarely consider in our analysis, because we're mainly concerned with the next swing. The blogger (BB) uses Cycle degree as the basis for his counting. The official (consensus) degree was set to "Grand Supercycle" by Elliott Wave International (EWI) in the 70s and they have not revised it since. This may be the reason they have been completely wrong in their forecasts for almost 20 years straight now! At the timeframe of decades and centuries choice of "base" degree makes a big difference, but at daily and H4 it is (almost) irrelevant.

His idea of a "false bottom" (sounds like a Victorian dress) in Gold seems on point. Bear in mind that the blogger is bullish Gold and would not easily make this statement without careful analysis. You can see from his chart that he's got an "irregular" B wave making the low ("regular" B waves don't exceed the start of wave A), so now we can expect the 5th wave to put in an additional low (or not) before the bull trend starts. This also helps explain the strength of the current wave down.

The main clue that the previous move up is a corrective wave is in the symmetry (and 2 equal legs) of its three wave structure. Thing is: a diagonal has the exact same characteristics and structure, so it's often a matter of waiting for the follow-up wave to get confirmation - such as in this case where the current wave down is going "too deep" to be a subwave of a diagonal.
cryptocurrency everytime
  • #8,531
  • Sep 17, 2013 12:46pm Sep 17, 2013 12:46pm
Quoting Islander
{quote} I hope you managed to get to the Chicago Pits when open- outcry trading was happening - I did and it was AN UNBELIEVABLE, UNFORGETTABLE EXPERIENCE

hi Islander,

You know, i've never been on a live pit floor. The closest I've gotten is via pics like this and watching Rick Santelli shouting above the noise! I don't know if i would last long in that environment because I really need to concentrate when i trade and analyse in a tranquil atmosphere...
cryptocurrency everytime
  • #8,532
  • Sep 17, 2013 12:52pm Sep 17, 2013 12:52pm
Quoting venzen
{quote} PipTrapper, I got in @ 1.5912 with my first order, the next (and larger) order was limit triggered @ 1.5897, but the action is completing above 1.5900 which is adding suspense... i have M5 PA in wave E of a triangle set to complete around 1.5917 and then down
Hi Venzen and PT,

I have 1.27 ext at 1.59666(always take a short on those numbers ) but also a nice tl and an ugly gartley. It is in my sell zone but other than the 666 number, it is weekly and I will give it room. I apologize if the chart is a mess but a lot going on in a small area.
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #8,533
  • Sep 17, 2013 1:00pm Sep 17, 2013 1:00pm
Quoting venzen
{quote} hi Islander, You know, i've never been on a live pit floor. The closest I've gotten is via pics like this and watching Rick Santelli shouting above the noise! I don't know if i would last long in that environment because I really need to concentrate when i trade and analyse in a tranquil atmosphere...
floor: noise level = demand...but large orders are placed out of "sight".....
  • #8,534
  • Sep 17, 2013 1:26pm Sep 17, 2013 1:26pm
Quoting venzen
{quote} PipTrapper, I got in @ 1.5912 with my first order, the next (and larger) order was limit triggered @ 1.5897, but the action is completing above 1.5900 which is adding suspense... i have M5 PA in wave E of a triangle set to complete around 1.5917 and then down

short 1/10 @ 5911


GBPUSD CALL


I will risk the top
  • #8,535
  • Sep 17, 2013 1:37pm Sep 17, 2013 1:37pm
Good evening Ladies and Gents,


hope you had a successful day.

As I see, I have not missed much price-movement wise.


Can we agree on shorting EU now? I read, that Ally gets a bit impatient here. So do her the favor and bring this damn thing down (parity would be nice for today)
  • #8,536
  • Sep 17, 2013 1:42pm Sep 17, 2013 1:42pm
Quoting venzen
{quote} i read this exact blog earlier today and have been following for about 3 years. The blogger is contrarian (which is ok by me) and an experienced EW analyst. Always useful to get a non-consensus view from him and follow his counting which he explains frequently. Interesting thing about this guy is that he argues for meticulous attention to and absolute certainty about "wave degree". It is something we forex traders rarely consider in our analysis, because we're mainly concerned with the next swing. The blogger (BB) uses Cycle degree as...

short term count on Gold

http://www.ew-forecast.com/newslette...inting__lower_


I thought about shorting Gold this afternoon (I mean, shorting a bit more ), but found, that my system does not highlight a special good entry. Looking at my trading system, chances are quite high, that we do see a bit of pop-up over the next day(s).


Then I found this count and it fits to what I expect
  • #8,537
  • Sep 17, 2013 1:43pm Sep 17, 2013 1:43pm
Quoting infinitus
Good evening Ladies and Gents, hope you had a successful day. As I see, I have not missed much price-movement wise. Can we agree on shorting EU now? I read, that Ally gets a bit impatient here. So do her the favor and bring this damn thing down (parity would be nice for today)
I like to sell into a upswing..unfortunately I have to be away from the desk tomorrow when all that action supposed to take place...so I might place some sell orders above the mkt...and c what happens...
  • #8,538
  • Sep 17, 2013 2:08pm Sep 17, 2013 2:08pm
Quoting TraderPablo
{quote} I like to sell into a upswing..unfortunately I have to be away from the desk tomorrow when all that action supposed to take place...so I might place some sell orders above the mkt...and c what happens...

Same problem here - when tomorrow evening the news hits, I am in a business meeting for hours
  • #8,539
  • Sep 17, 2013 2:25pm Sep 17, 2013 2:25pm
Quoting infinitus
{quote} Same problem here - when tomorrow evening the news hits, I am in a business meeting for hours
ill decide tnght on placing orders ...
  • #8,540
  • Sep 17, 2013 2:36pm Sep 17, 2013 2:36pm
Quoting infinitus
{quote} Same problem here - when tomorrow evening the news hits, I am in a business meeting for hours
Take a tablet with you
Those who say it cannot be done should not interrupt those who are doing it
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