{quote} It looks like you have put a lot of time into this stratedgy..... I will have to take some time to look when I am less tired. Thank you!
I trailed the profit
- #3,821
- Dec 15, 2015 3:41am Dec 15, 2015 3:41am
I trailed the profit
- #3,822
- Dec 15, 2015 3:51am Dec 15, 2015 3:51am
{quote} It looks like you have put a lot of time into this stratedgy..... I will have to take some time to look when I am less tired. Thank you!
oK based on the setup I have.... EJ is still in bull mode on h4 and has been since the candle which closed across 133.021about 12 hours ago....
The tp1 for the buy is 134.346
The tp2 is 135.394
Now should EJ close at or under 132.497 then you close the long and go short.... As the short tp would be
tp1 132.096
tp2 130.647
More then likely tomorrow's expected high impact news will hit both tp2 for the buy and sell at the same time.
- #3,823
- Dec 15, 2015 6:57am Dec 15, 2015 6:57am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Setup on 1Hr. - buying the dip after one more zigzag down. SL @ 129.96
Elliott Wave for optimum entry, exit and risk management of trades
- #3,824
- Dec 15, 2015 7:22am Dec 15, 2015 7:22am
Setup on 1Hr. - buying the dip after one more zigzag down. SL @ 129.96 {image}
- #3,825
- Dec 15, 2015 10:26am Dec 15, 2015 10:26am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
{quote} Hello SkyHok. I have a question for you sir. The horizontal line which connects (2) and (4) I assume the peak prior to that one was where the horizontal was correct? {image}
Elliott Wave for optimum entry, exit and risk management of trades
- #3,826
- Dec 15, 2015 3:28pm Dec 15, 2015 3:28pm
{quote} No sure about your question. It's an expanding diagonal wave c, with (2) and (4) overlap, and wave (4) is complex consist of 3 waves. {image}
Where would you draw the trend line on the upside and down side?
- #3,827
- Edited 11:01pm Dec 15, 2015 5:30pm | Edited 11:01pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
{quote} Ok say that your chart looks like the one below. {image} Where would you draw the trend line on the upside and down side?
If it was at that stage of the market, I would assume it was developing an impulse wave and draw upper and lower channel lines as such:
However, it developed into an expanding diagonal with respective channel lines, with no harm done.
Yes, it first developed wave a top and place channel line on that, but later moved to connect (4).
http://www.forexfactory.com/attachme...1&d=1450196795
Since (2)-(4) channel line needs to be clean with no parts of (3), (4) and (5) sticking out.
Just a note: channel lines connecting (1)-(3) and (2)-(4) are different from the usual parallel trend lines, as they are seldom parallel.
Elliott Wave for optimum entry, exit and risk management of trades
- #3,829
- Dec 16, 2015 1:27am Dec 16, 2015 1:27am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
{quote} Got you.. Thank you so much for being as kind enough to explain to me how to do it. I always thought that people would place the trend lines at highs and lows, then adjust them if they are broken, then apply fibs to guess where the next high and low would be. Yet, you at least, use a different method of drawing them as you anticipant patterns, then adjustment it as you go long.
Elliott Wave for optimum entry, exit and risk management of trades
- #3,830
- Dec 17, 2015 9:06am Dec 17, 2015 9:06am
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
Good Morning..... I hope saved me some pips....
Check out this ej pennant....buy.. buy... buy is how this chart patter usually plays out., and I think that the next leg up is about as long as the flag pole if I remember correctly..... get in as low as you can......
Check out this ej pennant....buy.. buy... buy is how this chart patter usually plays out., and I think that the next leg up is about as long as the flag pole if I remember correctly..... get in as low as you can......
"Keep your eyes on the helpers" - Mr. Rogers
- #3,832
- Dec 17, 2015 3:15pm Dec 17, 2015 3:15pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
{quote} While I agree that being long this pair is good thing, I think we should go down a bit more as my analysis is more in line with skyhook. For now I'm short till we hit 132 or break up past the down trend line.
"Keep your eyes on the helpers" - Mr. Rogers
- #3,834
- Edited 8:54pm Dec 18, 2015 2:38am | Edited 8:54pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Just an update on present wave count set for reversal, as it's closing-in on 0.6182 retracement level.
The spike down looks strong, might place buy stop above present price at distance to one's liking.
Retracement since 4th December has been congestion that coiled up fuel for next week's rocket advance.
The spike down looks strong, might place buy stop above present price at distance to one's liking.
Retracement since 4th December has been congestion that coiled up fuel for next week's rocket advance.
Elliott Wave for optimum entry, exit and risk management of trades
- #3,835
- Dec 23, 2015 8:05pm Dec 23, 2015 8:05pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Still looking for new low before the rally, obviously it would be after X'mas.
A good Christmas break to all!
A good Christmas break to all!
Elliott Wave for optimum entry, exit and risk management of trades
