This is a corrective structure. You may know it as a bear flag or whatever. These patterns have a 90% probability to break in the direction it came from. In this case to the downside.
- #99,883
- Nov 28, 2016 11:40am Nov 28, 2016 11:40am
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 5,480 Posts
No username yet? You are on my ignore list. Fuck off and do not quote me!
- #99,884
- Nov 28, 2016 1:04pm Nov 28, 2016 1:04pm
- Joined May 2011 | Status: Trader | 1,577 Posts
Ecclesiastes 1:9
- #99,885
- Edited 5:52pm Nov 28, 2016 2:10pm | Edited 5:52pm
- | Joined May 2012 | Status: Worried | 458 Posts
I dare you all to spend a week posting your ideas and giving constructive criticism without pulling out rank
IMHO Francis comments are really interesting including the charts which back up his work. and his efforts to explain how price in forex at least move in waves
I also agree putting people down is uncalled for.
We are here to learn right. and yes we owe to those who take the time to share opinions specially if those are helpful opinions.
It amaze the psychology behind some traders. if you are so sure you are right and you are making money why get annoyed?
I also think the hikes are already priced in. Â However I find it very helpful and enriching when someone explains a different point of view.
Cheers
IMHO Francis comments are really interesting including the charts which back up his work. and his efforts to explain how price in forex at least move in waves
I also agree putting people down is uncalled for.
We are here to learn right. and yes we owe to those who take the time to share opinions specially if those are helpful opinions.
It amaze the psychology behind some traders. if you are so sure you are right and you are making money why get annoyed?
I also think the hikes are already priced in. Â However I find it very helpful and enriching when someone explains a different point of view.
Cheers
Guys Jfrancis comes up with chart explaining what he thinks. ell3, you come up with your chart and method showing why you thing this pair will move in the direction you said. Lets learn from your method too, don't just tell people what you think. I can post or say this pair will remain at a point for years but without a chart and analysis its just...
(think that's Jfrancis point)
(think that's Jfrancis point)
It's not how much U make, but how much U keep
- #99,891
- Nov 28, 2016 3:33pm Nov 28, 2016 3:33pm
Let me give another example of how wave analysis works in a way that pin bars, support and resistance, moving averages, harmonic patterns or fundamental analysis can't.
Here back in January people were calling for the dollar to go to heaven because the US economy is strong and naming everything else they can think of why this is going to never stop going up.
Anyone can call up or down. You have a 50% chance of being right. But what people don't understand most of the time is that the market does not move in one straight line. It moves in specific way creating waves. Now these waves will create patterns, patterns that happen over and over again in the market. Because these patterns repeat themselves, you know exactly how they should behave giving you a high probability trading opportunity.
This chart was creating 10 MONTHS back. Before Donald Trump. Before all the 10 Non Farm Payrolls up until this day.
Here back in January people were calling for the dollar to go to heaven because the US economy is strong and naming everything else they can think of why this is going to never stop going up.
Anyone can call up or down. You have a 50% chance of being right. But what people don't understand most of the time is that the market does not move in one straight line. It moves in specific way creating waves. Now these waves will create patterns, patterns that happen over and over again in the market. Because these patterns repeat themselves, you know exactly how they should behave giving you a high probability trading opportunity.
This chart was creating 10 MONTHS back. Before Donald Trump. Before all the 10 Non Farm Payrolls up until this day.
- #99,892
- Nov 28, 2016 4:37pm Nov 28, 2016 4:37pm
- Joined May 2011 | Status: Trader | 1,577 Posts
Ecclesiastes 1:9
- #99,893
- Nov 28, 2016 4:55pm Nov 28, 2016 4:55pm
- | Commercial User | Joined Jan 2015 | 1,352 Posts
Let me give another example of how wave analysis works in a way that pin bars, support and resistance, moving averages, harmonic patterns or fundamental analysis can't. Here back in January people were calling for the dollar to go to heaven because the US economy is strong and naming everything else they can think of why this is going to never stop going up. {image} Anyone can call up or down. You have a 50% chance of being right. But what people don't understand most of the time is that the market does not move in one straight line. It moves in...
{quote} Or something like this will be better. {image}
Nobody here is disagreeing with your analysis, but its your attitude. We all have an ego to a certain degree and thats fine I myself am a culprit for that at times, but what I have learnt in this business ego will kill you.
If you are happy to trade EW go for it noone really cares how you like to trade. Some dont have the time for that kind of study and is much simpler to put up a Fib re-tracement. If you dont believe me that Fibonacci works put it on your chart. Has it reach where I predicted. Is it holding resistance at 61.8%?
For me I will sell again at 50%.
20 Pips a day keeps centerlink away
- #99,896
- Nov 28, 2016 5:06pm Nov 28, 2016 5:06pm
- | Commercial User | Joined Jan 2015 | 1,352 Posts
20 Pips a day keeps centerlink away
- #99,897
- Nov 28, 2016 5:18pm Nov 28, 2016 5:18pm
- | Commercial User | Joined Jan 2015 | 1,352 Posts
{quote} I've studied harmonic patterns which is very fib intensive. So yes I am very familiar with using fibs on pullbacks. I also know how to use fin extensions to fine targets. I don't need a lesson thank you. Lets all just flip coins then to trade since we only need is a 50/50 chance. That makes sense. If people don't have time to learn to trade then don't trade. You'll only lose money.
Maybe its time to put your money where you ego is. I think we would all like to see an account. If its as good as you say it is we will all bow to you like a God
20 Pips a day keeps centerlink away
- #99,898
- Nov 28, 2016 5:20pm Nov 28, 2016 5:20pm
Benoit Mandelbrot has questioned whether Elliott waves can predict financial markets: But Wave prediction is a very uncertain business. It is an art to which the subjective judgement of the chartists matters more than the objective, replicable verdict of the numbers. The record of this, as of most technical analysis, is at best mixed. Robert Prechter had previously stated that ideas in an article by Mandelbrot "originated with...
I guess I am the luckiest man in the world or at least in this forum. 
Forget what you think about me because I dont really care. Im not here to babysit peoples emotions. Im here to make money and teach anyone that would like to learn wave theory. Thats why I post my charts so it not just me talking out of my ass. I post step by step by step analysis with details for credibility. And I know you see my charts and you see how they are working. So dont let your ego get in the way because you dont like what I say.
- #99,899
- Nov 28, 2016 5:24pm Nov 28, 2016 5:24pm
{quote} I know traders make money on only a 40% win rate. Personally thats not for me but it works for them so why is it bad? Trading is not all about placing a trade but its a game of strategy. Maybe its time to put your money where you ego is. I think we would all like to see an account. If its as good as you say it is we will all bow to you like a God
Your'e the one going at this like its a competition against one another. All people want to see is dollar figures which is so stupid. It will not teach them how to trade. I provide invaluable info that ppl can learn from.
I don't need anyone to bow down to me.
