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02-27-2008, 06:08 PM
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Posts: 1,606
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Usdcad
Quote:
Originally Posted by Gino
hi Big, so do you think the pair is going down further,how further?
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USDCAD correction is testing our patience.
At the moment it looks like a perfect A-B-C corrective wave. Wave 4 of C formed a triangle that should resolved anytime soon, within 1hr, or so.
Once it goes to 0.9835, it will be time to short the pair.
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02-27-2008, 06:11 PM
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Join Date: Jul 2005
Posts: 4,488
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Quote:
Originally Posted by WhatCount
Hi Marketwavez
I really wouldnt mind the material you mentioned above for my personal learning and reading. Anychance you can email to me?
my email Jarsav@btinternet.com
Thanks
Ray |
ok , I will send it to you later on this evening .........
they are 3 Separate Pdf Files - 21 chapters of material
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It will take you some time to go through all of it
- Good Studying for you/..... 
Last edited by marketwavez2; 02-27-2008 at 06:16 PM..
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02-27-2008, 06:18 PM
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Member
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Join Date: Jul 2005
Posts: 4,488
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Quote:
Originally Posted by Gino
Hello marketwave, do you know of a good free tutorial on Elliot? Thanks
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I don't understand what you mean by free tutorial .........
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but if you are a newbie , then please go back and read this
Click Here : Read Post # 4177
http://www.learncurrencytrading.com/...13880&page=279
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GINO..... READ THIS ALSO :
Quote:
Originally Posted by carforum
Is there any website show the Elliott counting?
Please recommed some website which
show the elliott counting, since i want to compare my count between others! I have search
from google, unforunately, there's only few website!
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Elliott Wave Chart School
Learn it all right here : 
http://elliotwave.net/educational/basictenets.htm
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Last edited by marketwavez2; 02-27-2008 at 06:35 PM..
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02-27-2008, 06:19 PM
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Join Date: Feb 2008
Posts: 34
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Loonie
Quote:
Originally Posted by Big Mike
USDCAD correction is testing our patience.
At the moment it looks like a perfect A-B-C corrective wave. Wave 4 of C formed a triangle that should resolved anytime soon, within 1hr, or so.
Once it goes to 0.9835, it will be time to short the pair.
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Heya mike,
I think I'll try and trade this one too. I missed the chance on the pound this morning as I entered the wrong limit order in my real account. Felt like an idiot!
There has been such a huge move already I wonder how much downside is left? Cheers.
John
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02-27-2008, 06:32 PM
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Join Date: Dec 2007
Posts: 1,625
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Usd/cad
Quote:
Originally Posted by gaf
Heya mike,
I think I'll try and trade this one too. I missed the chance on the pound this morning as I entered the wrong limit order in my real account. Felt like an idiot!
There has been such a huge move already I wonder how much downside is left? Cheers.
John
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I think one more low is required to complete the wave three decline from 1.0166.
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02-27-2008, 06:46 PM
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Posts: 1,606
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Eurusd
Triangle is building up, at the moment almost ready to burst. Should go up by around 50 pips.
Mike
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02-27-2008, 06:51 PM
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Member
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Join Date: Oct 2005
Posts: 1,606
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Quote:
Originally Posted by justy10125
I think one more low is required to complete the wave three decline from 1.0166.
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If wave 5 will be equal to wave 1, then USDCAD should go down around 95 pips.
Starting from 0.9835 top of wave C, that is. Which means the target of 0.9740
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02-27-2008, 06:59 PM
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Member
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Join Date: Jul 2005
Posts: 4,488
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Quote:
Originally Posted by Gino
Hi Marketwave, Which trading company do you use?
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Supercharts 4 by TradeStation
Sorry , Its not free ............
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Jamie is using TradeStation aslo , Version 8
Anyway it doesn't really which platform you use
( You have to train your eye to see the waves )
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Chart Data is Chart Data .........Use whatever you like.......
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02-27-2008, 07:26 PM
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Member
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Join Date: Jul 2005
Posts: 4,488
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Quote:
Originally Posted by Big Mike
My limit was 60 pips and the position was closed upon hitting 0.76325
I think I could've squeezed few pips out of it yet, but I don't like pushing my luck. I'd rather make half or bigger half of the run, then lose it all. Better 50 or 60 pips, then 0% of 100 pips, i am trying to say.
Since triangle bursts are usually terminal pattern, this should be wave 5 terminating. Now you should see a correction, but I don't trade corrections.
Mike
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Hello BigMike
i know that you are trying to learn
i know you are trying to understand more and more
but , look at this chart if yours from today
Why is wave 4 overlapping wave 1 in your chart ?
Your wave 4 low in your chart is below the high of Wave 1
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( this is a basic rule of Elliott Waves Formations )
- a very basic rule
There are others looking at your charts in here ,
so please take the time to observe and learn this basic rule
we all know it already - now it's time that you know it
So please ,
no more posting of charts with Wave 4 overlapping Wave 1
There are other things I would like to move on and show you .
( See your overlapping wave chart below) -
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Last edited by marketwavez2; 02-27-2008 at 07:32 PM..
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02-27-2008, 08:07 PM
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Member
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Posts: 4,488
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Here is a visual look at how
Wave 4 is not to overlap Wave 1 , Ever.... !
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The 3 chart diagrams below are illustrating that :
Wave 1 can be the longest wave,
or,
Wave 3 can be the longest wave,
or ,
Wave 5 can be the longest wave,
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- but never a overlap must occur ........... !
Last edited by marketwavez2; 02-27-2008 at 08:22 PM..
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02-27-2008, 09:49 PM
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Posts: 1,625
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GBP/CHF Heading Lower Again
Hey everybody,
It looks like wave four of the decline that began back in July 2007 is complete and that price is headed lower once again. The wave four correction was a double three.
Wave 1 will equal wave 5 when price gets to 2.0635. Not only was wave four a double three, but it also formed a box formation (or a channel). Once price breaks out of a box, a good target is usually the width of the box. I drew my box lines at 2.1843 for the high and 2.1233 for the low. Therefore, the box is 610 points wide and has a target down at 2.0623. That is only a small 12 point difference from where wave 1 would equal wave 5 at 2.0635.
Another thing to note: Price is just about to break through the May 2003 low of 2.0925. There may be some stops to blast through on the other side of that number, so we could see the decline accelerate as price pushes lower.
Happy Trading.
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02-27-2008, 10:30 PM
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Posts: 4,488
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Jamie ,
Rememberthat conversations we were having in here last moth about
people here in the states that wanting to get paid in Euro's
Guess What ?
it's on the news again here in NewYork City
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The stores are now putting up signs that you can now pay for merchandise and coffee with Euro's ........
some Actors and the models who travel alot are now wanting to be paid in Euro's also , and as you know
the oil companies have been for paying for oil in Euros for some time now .
How Patriotic is this news -
Well , you probably want to avoid this conversation , but i fear that another rate cut
by the Fed could cause more damage to the dollar going forward .......
Last edited by marketwavez2; 02-27-2008 at 10:51 PM..
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02-27-2008, 10:39 PM
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Member
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Join Date: Dec 2007
Posts: 1,625
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GBP/CHF Again
Here's a monthly chart of GBP/CHF. The pattern seems fairly clear and shows that there is huge downside potential...After a retracement that is.
First off, it's possible that a leading diagonal was formed as wave one. According to Frost and Prechter, it is rare for leading diagonals in wave one positions, but it does happen. Furthermore, they found cases where the structure could be either 3-3-3-3-3 or 5-3-5-3-5. Looking at the GBP/CHF, it may be the 3-3-3-3-3.
Second, wave (i) of (3) is nearing completion. I have an approximate end for wave (i) at ~2.0635. Wave two usually retraces to about the 50.0% level of wave one. Therefore, an approximate retracement level is going to be near the ~2.2800 area. Incidentally, that is right where the former support line (Blue Line) extends to. I'm a big believer in old support being retested as new resistance and vice versa. So it seems that there is a pretty good chance that we could see price head back up to that level.
Any thoughts?
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02-27-2008, 10:51 PM
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Member
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Join Date: Dec 2007
Posts: 1,625
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Quote:
Originally Posted by marketwavez2
Jamie ,
Rememberthat conversations we were having in here last moth about
people here in the states that wanting to get paid in Euro's
Guess What
it's all over the news again here in NewYork City
---------------------------------------------------------------
The stores are now putting up signs that you can now pay for merchandise and coffee with Euro's ........
some Actors and the models who travel alot are now wanting to be paid in Euro's also , and as you know
the oil companies have been for paying for oil in Euros for some time now .
How Patriotic is this news -
Well , you probably want to avoid this conversation , but i fear that another rate cut
by the Fed could cause more damage to the dollar going forward ....... |
With the USD being so cheap in EURO terms, a lot of Europeans are coming to the United States for vacations and to do some shopping. It's basically one huge 50.0% off sale for them when they come to the U.S. So it may be that the retailers in New York are just trying to accomodate the tourists by accepting EUROs. If it attracts more business, I say go for it.
It helps the businesses which helps the economy which helps the stock market which causes the dollar to rally which allows the people who keep trying to call the top in EUR/USD to finally be right. Ha Ha.
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02-28-2008, 01:38 AM
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Member
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Join Date: Jan 2008
Posts: 641
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Market
Quote:
Originally Posted by marketwavez2
ok , I will send it to you later on this evening .........
they are 3 Separate Pdf Files - 21 chapters of material
-------------------------------------------------------------------
It will take you some time to go through all of it
- Good Studying for you/..... |
Thanks i look forward to it...
Regards
Ray
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