Thread: Elliott Wave Trading Discussion

Originally Posted by speculator84

Deficits on top of deficits and growing worthless exports ( US Dollars)


For technical matters keep it simple. Trend Lines and fib #s.

I enjoy your guys work and helps me to gain another perspective.

Yep , Smells like fiat money to me
Gold reserves doesn't back the value of the Us Dollar any more

Trendlines and Fibs ? - Your'e on to something there

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Trading is a battle between Bulls and Bears - ( most know this )
more importantly
Trading is Battle between Technicals and Funny-mentals- ( most don't know this )

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Markets can move solely on technicals at times
especially when the brokers know where all the stops are

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The Canadian Dollar rallied this past Friday on short covering ! ........
-I posted the chart and yet no one in here had anything to say about short covering .


Why don't traders pay attention to short covering rally's ? ...........

K guys,
The Euro money and Cad money is not fiat money right?

Originally Posted by italm31

K guys,
The Euro money and Cad money is not fiat money right?

They are both fiat money. Euro has a bid because people thing something has to replace the world reserve currency, euro is the next best thing.

Euro I am worried about.

Cando is probably the most honest and secure fiat currency on the planet. Canada has oil/water/base metals/precious metals to trade for anything they print. They do not run deficits and has a trade surplus. Meaning they export more then take from the world in terms on dollars.

The US takes more and prints more. The most dishonest currency.

Speculator ,

The US has the greatest commodity of all - ( Innovation ) it's abundant !
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The Us has a swelling population of 300,000 people
Canada has what maybe 50,000 million people ?

This is not an even playing field .................
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US takes in more because it has more people to support
Canada is Under-populated..........
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by the way ,
With the recent drop in the value of the US Dollar , US exports are up !
- A falling dollar is always good for exports !

Look Speculater,
It looks to me like your looking for justification for wave counts and there are none other than fear and euphoria. It doesn't matter what the guy from Bank of Montreal says. It doesn't matter what the Feds do. It doesn't matter what Greenspan or Bernake says. They just contributes to the fear and Euphoria. If my count is correct, you will start hearing good things about the USD in a few weeks. If thats what you need to change your mind, your not an elliotician, your a follower.

italm ,
Where is your count for the Us Dollar ?........
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Is your count a Longer-term count ( daily bars or higher ) ?
Can you post a updated chart or link to it ?
thanx.....

This is my Longer-term chart wavecount
for the US Dollar ( "aka" Usd/Chf )
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Hey Market,
I don't have access to the dollar index with my charting software cause well, I don't trade it. But from what I could see, all it is a reversal of the Eur/USD chart. My count puts us in a wave B of 2 of an expanded flat just like the USD/Cad and the Gbp/USD (see how that works). This wave B however is a triple zigzag (11 waves). If Im right, were about to start a large C wave down to below the extreme of wave A. I hope you this is what your looking for.

italm ,

You can count the Usd /Chf pair ?-

The price patterns in the Usd/Chf pair is the same as in the he Us Dollar Index .. ..........
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I thought we we were discussing the Us dollar here today


the Euro is a difffrent story

Originally Posted by speculator84

The US takes more and prints more. The most dishonest currency.

hi speculator ....

-Just also wanted to comment on you saying the US Dollar is the most dishonest

I respectfully dis- agree ......
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I think that the British Pound is the most dishonest .....
Germany has the largest economy in Europe
so why doesn't the British Pound join the effort in a united Euro ?
and make the Euro one strong United Currency

Is not Great Brittan a part of Europe ?
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The British won't join the Euro probably because of thier ego , So , that's dishonest

UK is a vibrant part of Europe , yes , but their Economy is not the Largest !
Therefore there is no united Euro ! .......... Probably never will be !

Hey guys,
I apologize to Speculater and everyone on this forum if I sound cocky in any way. I just want to make something clear. These are just my counts. I don't hold a crystal ball. If anyone profits from them, Im happy for you. If anyone loses money because of them, its cause of your money management skills and your emotions. If I said it once, I said it thousand times. Just because your a good elliotician, does not make you a good trader. I post these charts on this forum in the hopes that someone will either acknowledge them as being right or disputing them. The purpose of disputing them is so that we can all profit from possible various possibilities, not just one. In the process we all learn from them. Now, with that said, I welcome people coming on this site and disputing my counts. But please, don't insult our intelligence with what the guy from Bank of Montreal says about the dollar. This is the reason were ellioticians, so we don't have to listen to him. We make our own decisions based on what we see not what we hear.

Speculator, if your going to place post on this forum based on elliot wave, thats fine. If you want to learn elliotwave that fine too. I can't speak for anyone here, but as far as Im concerned, you are more than welcomed. You want to dispute my counts, please do. We can have a logical discussion based on Elliotwave and what counts you see. Or if you have any questions, you could ask Jamie or anyone who seems to have an inkling of what they are doing. Why? Because the last time I checked, the forum is about elliotwave trading. And as ellioticians, we all agree (or should at least) that fundamentals lag prices not lead them. So that guy form bank of Montreal may be the last guy in the buffet line. Every one else passed already. Welcome to the group and I hope you stick around.

Originally Posted by marketwavez2

italm ,

You can count the Usd /Chf pair ?-

The price patterns in the Usd/Chf pair is the same as in the he Us Dollar Index .. ..........
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I thought we we were discussing the Us dollar here today


the Euro is a difffrent story

Well Im not much of a Usd/CHF trader just because intreday does not look as clear to me as the other pairs. So heres what I see on the biggest chart I could find. As you can see, I think a retracement is coming there as well. But long term, Im VERY Bullisg the CHF. I don't see the Swissie taking as big a hit as the other dollar pairs but it is due for some kind of correction.

UPDATE TIME :
Here is what the the Usd/Cad did today !........

There been no break-out like this all year ........
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Make no mistake , this strong rally was caused by short-covering
from Friday 's price action .....( NO MORE SELLERS LEFT TO SELL TO !)
( AND The brokers , are are big part of this because they know where all the stops are )
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Oil Prices now has new problem , time to Slow Down production ...
SEE TODAYS RESULT CHART BELOW

Hey guys,
Great article. Just thought Id share it with the group.

Learn to Recognize and Anticipate Fear
11/12/2007 4:28:04 PM

The major stock indexes closed lower on Monday (Nov. 12).

by Robert Folsom

*****

It's hard enough to resist greed and fear when you're all alone and no one is watching. Heaven help the man in a crowd who tries to stand as an individual, once that crowd begins to act on its collective emotion.

This is why "discipline" is usually the first word out of the mouths of consistently successful investors and traders when they're asked how they managed to succeed. They know that while the market is a formidable foe, undisciplined investors face a far more lethal enemy -- namely their own emotions, and the emotional impulse to follow others.

Decades of stock market history prove this to be true. Long-term peaks bring in the greatest number of people, even as long-term lows bring in the fewest. They buy high and sell low… again, and again, and again.

Mountains of hard evidence notwithstanding, it's still common to see some academic get good press for conducting a "groundbreaking experiment" in crowd behavior. To wit, the 2006 segment on the ABC News' "Primetime" show, which demonstrated the test results of a professor of psychiatry at a prestigious university in Atlanta.

Here's the short version. A group of people takes a test together, with each person privately writing the answers. Then, the same group takes a similar test, but this time each person reads their answers aloud to the group. The outcome? Hearing the answers of others "profoundly altered" the test results. Many individuals would get high scores on the written test, only to get low scores on the verbal test after hearing the answers of others.

Each person in the group was also hooked up to a machine that measures brain activity. The one interesting (if not surprising) revelation was the brain activity of people whose verbal test scores were not influenced by the answers of others -- their brains "lit up" in the amygdala, which is "the fear center of the brain."

In other words, going against the group raised the fear level in these individuals, but they were disciplined enough to make independent (and rational) decisions.

As I said, none of this is surprising -- this one test in an artificial environment is a weak echo of what real-world markets have long proven.

Elliott wave analysis can't infuse discipline, but it can help you recognize patterns in the market -- particularly the highs, lows, and dominant trends that reveal the collective emotions of others. It can be the first step toward recognizing those emotions, instead of participating in them.

Jamie S,

Great call, .9700 is good enough for me i'm not going to bicker about 50 points..I closed my long usd/can.

Beer is on me!!!

Let the shorting being..gonna give it a day to try and make a new high..