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  • #949,121
  • Jan 9, 2015 2:56pm Jan 9, 2015 2:56pm
Quoting kill56
{quote} a close above 11820's should take us to 11880 then eyes on 11940's, thats my target for now
Gotcha. I got 1.1900 & 1.2050 on the biggies ... but there's no way in hell I'm sitting in on this trade that far up, this being counter trend and all , piecemeal trading i.e. quick CT scalps , take the dough and run until we're back in trend mode ...
Hear the music before the song is over ...
  • #949,122
  • Jan 9, 2015 3:02pm Jan 9, 2015 3:02pm
yeah!

full margin GU and sell full margin UJ...nice trade this NFP...

happy weekend !
  • #949,123
  • Jan 9, 2015 3:04pm Jan 9, 2015 3:04pm
I see that the eurusd price is completely oversold near to 1.1800 but dont know for how long.
  • #949,124
  • Jan 9, 2015 3:40pm Jan 9, 2015 3:40pm
Quoting gatorinla
the uj is in a place where a drop, maybe a fast one is very possible. so eu the has room to bounce.
Y, UJ not looking good.
edit: anyway, GU approaching 1,52, so the EU bounce imo shouldnt hurt so much.
"I know one thing, that I know nothing." Sokrates
  • #949,125
  • Jan 9, 2015 3:44pm Jan 9, 2015 3:44pm
Quoting ill_be_back
{quote} I have GJ going DOWN to 178.344 Early Sunday, Then a bounce UP back DOWN to 176.19x, Then BIG UP Have A Pending BUY at 176.240
So far Going Exactly as Expected
Have a Good weekend
A good trader follows his rules, but great trader knows when to break them
  • #949,126
  • Jan 9, 2015 3:53pm Jan 9, 2015 3:53pm
Quoting Abdul2012
I see that the eurusd price is completely oversold near to 1.1800 but dont know for how long.
That's right. It got oversold @ 1.1800 but then @1.1760 extremely oversold ... the bounce was inevitable especially after yesterday bids kept coming in.
Hear the music before the song is over ...
  • #949,127
  • Jan 9, 2015 4:13pm Jan 9, 2015 4:13pm
Quoting Hickson
{quote} Lots are given, pips are given, so what is so hard about getting potential profit from these trades?! And I really do not know how someone wanted to come up with account calculation from that ...

with all the infos given one is able to calculate the gain and also the account size (when we assume that it uses standard lot)

only the info, if the account uses standard lot or not is missing.
  • #949,128
  • Jan 9, 2015 4:15pm Jan 9, 2015 4:15pm
Quoting Hickson
{quote} Nobody was talking about calculating account size from information, just about the profit made from it ... did go something wrong that you need to look for trouble? Sorry for you!

I did not understand the aggressive stance, either

Thought it was about joking and having fiun
  • #949,129
  • Jan 9, 2015 4:25pm Jan 9, 2015 4:25pm
Chill out gentlemen, it's weekend! Let's enjoy it.
  • #949,130
  • Jan 9, 2015 4:33pm Jan 9, 2015 4:33pm
Quoting infinitus
{quote} I think, that you can take Dow Theories ABC-moves and make a very profitable system out of it
Hi Infinitus,

Thank you for your response. I actually think that all of Ian's levels and measurements are too confusing. I also don't like how he is always quick to point out
how HEW is better or superior than EW. I've been profitable consistently since I started counting using the original EW concept and whenever I'm not sure of the right direction I look for help from other Elliotician such as yourself by reading their postings. I am having a hard time with pinpointing targets and so I also use levels pointed out by others whom I follow on this forum. I am starting to gain confidence as I go on and hopefully I will soon be able to be confident in establishing TP's as well.

I've also been experimenting with other indicators to aid in placing my TP's and that is why I am always interested in other threads where I might find such indicators.
I am using one now where I do jump out too early but it also allows me to jump back in confidently but I'd rather not mention it here for fear of being chastised again for defending the use of it. You might have an idea of what I'm talking about lol. I don't like engaging in such nonsense back and forth of what works what does not. I'd rather concentrate in making more money plus I think one can make things work with proper money management and if they can't then they should not even trade.

Thank you kindly again for your time and if you don't mind do tell what you think of Hennessy's New Elliot Wave Rule as I do find it interesting and I know someone who actually uses it profitably.

G
I read and watch to learn.
  • #949,131
  • Jan 9, 2015 4:49pm Jan 9, 2015 4:49pm
Possible millionair trade coming up, bullish engulfing on the daily, could be the trade of your life..
I don't think the USA will increase interest rates, its all a bluff... euro QE already priced in
  • #949,132
  • Jan 9, 2015 4:51pm Jan 9, 2015 4:51pm
Engulfing bullish candle on the daily chart.. off of 1.1750
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  • #949,133
  • Jan 9, 2015 5:00pm Jan 9, 2015 5:00pm
Quoting Greenspanke
{quote} Hi Infinitus, Thank you for your response. I actually think that all of Ian's levels and measurements are too confusing. I also don't like how he is always quick to point out how HEW is better or superior than EW. I've been profitable consistently since I started counting using the original EW concept and whenever I'm not sure of the right direction I look for help from other Elliotician such as yourself by reading their postings. I am having a hard time with pinpointing targets and so I also use levels pointed out by others whom I follow...
Hi G.,

good to hear that you can use EW in a profitable way.

I use EW in conjunction with momentum indicators, in order to better identify the waves. I think it is laughable, when people think that the usage of indicators is a waste of time. I think they have not understand the underlying mathematics and the proper use. But I do also use quiet other methods additionally,like volume profiles or S/R.

Regarding your question about Hennessy:

I do not like this counts with the deeply stretched ABC-flats. I think this approach does not reflect the underlying psychology in the markets correct.

Surly, since the waves consist out of 5 wave impulses and 3 wave corrections, we can come up with all kind of counting styles. But I do not see the advantage against the traditional counting.

But as we both noted: one should be able to make a system work when the money management fits.


Side note: I found Neelys book very interesting. It is not his EW approach. I think it is way too complicated than to use it in daytrading or small-swing trading.

But I found that he has made a lot statements and findings that are also good for traditional EW
  • #949,134
  • Jan 9, 2015 5:04pm Jan 9, 2015 5:04pm
uptrend future possible track, thinking ahead
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  • #949,135
  • Jan 9, 2015 5:18pm Jan 9, 2015 5:18pm
anyone know a good source for the basic rules regarding eliot wave counting? tradingview charts have an ea indicator that puts them in for you, not sure how exactly it works though. according to that eurusd hourly with EA indicator on, there is a big 5th down wave missing. for what it's worth.
  • #949,136
  • Jan 9, 2015 5:38pm Jan 9, 2015 5:38pm
What do you all think about this:

Large institutional investors want to take profits on their eu shorts after such a sustained move, in order to lock in profits. To take profits, they must buy, which would move the market up against them as they attempt to close their positions. That is unless they have plenty of willing retail sellers to buy from. Thus, they predict a good NFP release, knowing that retailers will sell eu, and time their exit strategy with the release; providing them the ability to close massive amounts of short positions with only a small move against them, allowing them to keep more profits.

Could this be what happened today...or am I way off base?
  • #949,137
  • Jan 9, 2015 5:51pm Jan 9, 2015 5:51pm
Quoting NWSTrading
What do you all think about this: Large institutional investors want to take profits on their eu shorts after such a sustained move, in order to lock in profits. To take profits, they must buy, which would move the market up against them as they attempt to close their positions. That is unless they have plenty of willing retail sellers to buy from. Thus, they predict a good NFP release, knowing that retailers will sell eu, and time their exit strategy with the release; providing them the ability to close massive amounts of short positions with only...
definitely right.. i took some nice profits at that dip near 1.1750... i was right.... But i slap myself for not looking at the larger timeframe charts.... from now on thats the only chart im going to concentrate on... Daily/weekly/monthly...
i was looking at the 1 hour and just waiting to buy if the price goes above 1.1850... thats the fractal i wanted it to break... very nearly... i just hope theres not a big gap up... but im not too worried... my pending buy stop will be set at whatever gap up there is...
  • #949,138
  • Jan 9, 2015 5:58pm Jan 9, 2015 5:58pm
Quoting NWSTrading
What do you all think about this: Large institutional investors want to take profits on their eu shorts after such a sustained move, in order to lock in profits. To take profits, they must buy, which would move the market up against them as they attempt to close their positions. That is unless they have plenty of willing retail sellers to buy from. Thus, they predict a good NFP release, knowing that retailers will sell eu, and time their exit strategy with the release; providing them the ability to close massive amounts of short positions with only...
sounds plausible, but i still have my suspicions that we might be coming to the end of the eurusd trend. we have reached a 10 year low, this seems to me rather an amazing situation. can it really go much lower? i suppose in the end nothing is impossible. the 2 currencies were at parity at one stage after all. hard as it is to imagine such a situation.
  • #949,139
  • Jan 9, 2015 6:21pm Jan 9, 2015 6:21pm
Quoting NWSTrading
What do you all think about this:
Suppose noone is able to move the market. So why wont those large investors cover after NFP release?
But lets say, hypothetically, we are talking about such a strong player who is able to move market a bit, say PBOC, who is massive long on USD and needs to cover. You would cover after major break of support, because you first need price to be below some strong monthly ressist. So you cover after break.
Nevertheless, ofc while we are trading finish of such a long cycle there are big orders stacked here everywhere.
edit: or even better. You start a war, and then cover.
T
"I know one thing, that I know nothing." Sokrates
  • #949,140
  • Jan 9, 2015 6:36pm Jan 9, 2015 6:36pm
It's literally like this thread is stuck on repeat.
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