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04-24-2008, 10:49 AM
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Join Date: Feb 2008
Posts: 138
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AT cheer up
Hi AT,
don't say that, at least you make some profiyt on other market, and you can follow the RR principle by your self.
Enjoy your travel and looking forward to see you back.
cheer up my friend, you still have good eyes for me .
chakow
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04-24-2008, 10:52 AM
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Join Date: Feb 2008
Posts: 61
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usd/jpy
Hmm... Looks like bulls are about to have a tea party 
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04-24-2008, 11:14 AM
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Posts: 641
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EUR/GBP Waves
hi all
another wave count on the "tank"
anyone got the same.
regards
ray
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04-24-2008, 11:25 AM
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Join Date: Oct 2005
Posts: 1,606
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Quote:
Originally Posted by WhatCount
Hi all
this is the count i am following on the USDJPY daily.
regards
ray
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Hello Ray
I am also still waiting for another top in USDJPY, hopefully between 104.5 and 104.97 (remember 104.97 was our "rubicon" as one of our friends called it) to complete minuette wave 5.
At that point the correction will be finished.
Justy presented a nice chart here a couple of days ago and it is playing out nicely.
After that, i will go short in a big way
Mike
Last edited by Big Mike; 04-24-2008 at 11:28 AM..
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04-24-2008, 11:34 AM
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Join Date: Oct 2005
Posts: 1,606
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Gbp Jpy
Hello guys;
you know that i have been following this pair for a while now.
Here is my take, further to similar chart two days ago, with the recent update.
We are still waiting for the leg C correction to play out, so far we completed wave i and ii of the C wave. It looks like we should see a value of 206.50-207 before the pair will tank.
BTW: at 206.90 leg A = leg C
Mike
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04-24-2008, 11:35 AM
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Join Date: Jan 2008
Posts: 641
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Quote:
Originally Posted by Big Mike
Hello Ray
I am also still waiting for another top in USDJPY, hopefully between 104.5 and 104.97 (remember 104.97 was our "rubicon" as one of our friends called it) to complete minuette wave 5.
At that point the correction will be finished.
Justy presented a nice chart here a couple of days ago and it is playing out nicely.
After that, i will go short in a big way
Mike
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Hi Mike
What do you make of cable? do you agree with the count i posted or have we finished the larger wave 3?
i feel one more stabe below then a bounce.
regards
Ray
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04-24-2008, 11:47 AM
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Join Date: Oct 2005
Posts: 1,606
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Quote:
Originally Posted by WhatCount
Hi Mike
What do you make of cable? do you agree with the count i posted or have we finished the larger wave 3?
i feel one more stabe below then a bounce.
regards
Ray
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Ray
Agree, I still see a need for another spike down to complete the minor pattern. My mathematically derived value is around 1.967 or lower for this minor bottom (mathematically derived values are ok, but as a general guide only).
After, we should see a bounce to around 1.99, i figure.
(BTW: It might correspond nicely with the bounce that I expect in GBPJPY of another 100 pips, as per my chart above)
Mike
Last edited by Big Mike; 04-24-2008 at 11:54 AM..
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04-24-2008, 12:19 PM
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Join Date: Oct 2005
Posts: 1,606
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Quote:
Originally Posted by American Trader
Well I've been stopped out way too many times on this dollar bearish trade than I ever have on one trade idea my entire trading career. The way I see it, it's the market's way of telling me I'm wrong. I can't get bullish, but I don't want to chase thing anymore either. I think it's time to pack up my crayons and find another place to play until the picture is more clear.
I still have a short USD/JPY position open, and still feel the dollar rally is corrective and will lead to to a new low. I'm going to wait for a clear sign that the dollar has bottomed and then take long positions. Until then, I'm focusing on markets I've had more success in the past few weeks, like precious metals and the stock indexes.
Regards,
American-T
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It is really sad to see that you are leaving us, my friend.
I really enjoyed your posts, you knowlege and you insightful arguments.
I guess, after being here for the last few months, is that you cannot "force" the trade, you cannot force the security to do this or that. market has its own mind; all we have to do is follow what it is telling us through its pulse, called The Waves. It is like the doctor trying to read ECG. Everybody can see waves, but it takes large degree of skill to interpret.
All we have to do is listen to the message that the waves are communicating.
In any case, keep in touch and good luck with your other trading.
Mike
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04-24-2008, 12:29 PM
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Member
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Join Date: Jan 2008
Posts: 641
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Quote:
Originally Posted by Big Mike
It is really sad to see that you are leaving us, my friend.
I really enjoyed your posts, you knowlege and you insightful arguments.
I guess, after being here for the last few months, is that you cannot "force" the trade, you cannot force the security to do this or that. market has its own mind; all we have to do is follow what it is telling us through its pulse, called The Waves. It is like the doctor trying to read ECG. Everybody can see waves, but it takes large degree of skill to interpret.
All we have to do is listen to the message that the waves are communicating.
In any case, keep in touch and good luck with your other trading.
Mike
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Yes AT
Good luck, you will be missed, but hey if your still wave counting metals you can still give us the odd heads up here. if you dont mind.
I follow some stocks as well so here my email
jarsav@btinternet.com
Regards
Ray
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04-24-2008, 12:30 PM
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Member
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Join Date: Jan 2008
Posts: 641
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Quote:
Originally Posted by Big Mike
Ray
Agree, I still see a need for another spike down to complete the minor pattern. My mathematically derived value is around 1.967 or lower for this minor bottom (mathematically derived values are ok, but as a general guide only).
After, we should see a bounce to around 1.99, i figure.
(BTW: It might correspond nicely with the bounce that I expect in GBPJPY of another 100 pips, as per my chart above)
Mike
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Yes , thats what i thought but seem like it doesnt want go lower.
Anyone else out there with a count, i'd sure like to see it.
REgards
Ray
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04-24-2008, 12:40 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 WhatCount
Yes , thats what i thought but seem like it doesnt want go lower.
Anyone else out there with a count, i'd sure like to see it.
REgards
Ray
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Ray, do not force the market.
It will go down on its own terms. Just wait and things will come to you. I learnt that I must not jump the gun. Patience is definitely a virtue in trading.
I will present my GBPUSD wave count in minor intervals (like 10 min or so). I still believe that we haven't seen the bottom of minuette wave iii, then we need to see minuette wave iv and v.
Mike
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04-24-2008, 12:42 PM
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Posts: 1,219
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Here's my take on a possible count I like in a pair that I follow. It may not be too familiar to many of you, but I think it can be a profitable pair once you get to know it. EUR/CHF.
I see strong resistance right here and what could be a completed pattern. So far resistance is holding. There is the possibility of a further breakout to the upside. However, indicators are very stretched and I believe R/R favors a short trade which I have initiated at 162.35.
This is an hourly chart.
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04-24-2008, 12:53 PM
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Join Date: Jan 2008
Posts: 641
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cable
Quote:
Originally Posted by Big Mike
Ray, do not force the market.
It will go down on its own terms. Just wait and things will come to you. I learnt that I must not jump the gun. Patience is definitely a virtue in trading.
I will present my GBPUSD wave count in minor intervals (like 10 min or so). I still believe that we haven't seen the bottom of minuette wave iii, then we need to see minuette wave iv and v.
Mike
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yes mike, patience is a key attribute to have. Still learning that one.
look forward to your count.
Ray
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04-24-2008, 01:14 PM
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Join Date: Dec 2007
Posts: 50
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Quote:
Originally Posted by Jamie Saettele
yikes, that's a lot pain. this one hopefully works out in the end for you though
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I'm a longer-term trader, looking at bigger picture/daily charts, thus I've been bearish on eurusd for a long time. I never saw the risk/reward (nor a good count) for being bullish. I cost-averaged on the way up so I am being rewarded very well today for my patience. So now I can show a profit for April and my wife can get off my back for another month.
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