Thread: Elliott Wave Trading Discussion

Hello Brad, another very good call. I am with you but as usual will take a short position around 0.9674 level with target 0.9317 all seems to be happening before Xmas for a Nice Santa's gift. Cheers San

Originally Posted by brad_1199

Once again EURUSD keeps pushing higher this morning, no big surprise really... The range trade I posted had merit last night on the shorter term chart and was worth a try for short term scalpers out there with tight risk control... --//-- On a different note --> As I have said in here many times, never fight the trend, it is your friend.. Ride it "till death due us part".. If you look at the daily chart of EURUSD this sucker has been flying upward for quite some time now and we should only be looking to hold long positions in this pair while its moving higher.. Professionals are still holding long from much lower prices and just keep moving stops up to protect their profits while they let the positions ride higher... Now, seriously, is that not a much easier approach to trading than scalping ?? In my opinion it is, and that's why trend riding is my preffered method of trading... It's far safer to ride a trend than to be trying to scalp the market all the time... Some people play for peanuts, some people play for big money.. We just must ask ourselves as traders, are you here to play smart and win big time, or are you here to gamble and maybe lose big time... You can prevent losses by riding the trend, and moving your stop up behind price action, and at the same time you can also enjoy windfall profits.. But having enough patience to wait for the big pay off is the key.. Most traders don't have the patience to ride a trend for a year or more... Master patience and you can do or have anything your heart desires.. And it really is so impossibly hard for most people to do... Trade smart, not often people

Brad,really inspiring and wise word.you sound very experienced.you reminded me of some of Wizards,in the Market Wizards!

Keep it up Dude.

Originally Posted by stanchiam

Hi,
for wave 1, it cannot be 3 wave, i saw it label as AB

Hey stanchiam,

I am depicting an Ending diagonal(not sure yet though).(ED are 3-3-3-3-3).

on your USDCHF,the price action broke out the ranging zone and made a new low,I don't think that's the end of it.(as you depiceted end of C).
we should expect more sell off (as soon as EURUSD made a new high)

Originally Posted by mike3gdc

Brad,really inspiring and wise word.you sound very experienced.you reminded me of some of Wizards,in the Market Wizards!

Keep it up Dude.

Thanx for the kind words Mike --- >

Originally Posted by stanchiam

Bearish view
is this B? will see. Will increase position when it fall below 975
Targetting 1.49 and 1.4830

Result: stop out @1.5020

Originally Posted by stanchiam

hi cody,
nice to see u around, whats your take on eurusd?
for me, i am preparing for long around 96x & 97x zone with tight stop around 950 zone looking for a breakout.

edit: my eurusd 15 min view

Result: long at 1.5020 and position closed at 1.5090

Originally Posted by marketwavez2

Aud/Usd

--------------------
Tricky ---
here's another view

------------------------------

This is actually working out very well so far ........

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Usd/Cad

--------------------------
End of Wave C

Originally Posted by marketwavez2

This is actually working out very well so far ........

- - - - - - - - - - - - - - - - - - - - - - - - -- - - -- - -

Morning Mark,you're up very early morning?are you in Europe?

AUDUSD Update.


looking at bigger picture.

Gbp/Usd

Originally Posted by marketwavez2

Gbp/Usd

------------------------------
Bullish view -----

Mike3gdc,
this is the chart the chart for me next week ........

and i just wanted to share it with you

--------------------------------------------
the prevailing trend is down , yes ,,,,,,
( so it is contrrian view )


------------------------------ ------------ -----------

Gbp/Usd
-------------------- --------------- --------------
both targets are reached now ......

Originally Posted by mike3gdc

Morning Mark,you're up very early morning?are you in Europe?

AUDUSD Update.


looking at bigger picture.

Usd/Yen


Trade Result :

No , I'm not in Europe ,,,,,

alarms for Usd/Yen pair has reached their target , woke me up 2 hrs earlier

( this is my second best trade for the week )

-------------------------------- ------------------------- -------

Originally Posted by marketwavez2

Usd/Yen


Trade Result :

No , I'm not in Europe ,,,,,

alarms for Usd/Yen pair has reached their target , woke me up 2 hrs earlier

( this is my second best trade for the week )

-------------------------------- ------------------------- -------

Thats very smart.you connect the trading platform to your alarm clock and put it by your bed...so when a trade activated it makes some noise and wakes you up? which software do use? is it expensive?deos it have a function so we dont have to leave the bed and can manage the positions from there?!

Thanks.no matter the cost.I'd like to get this thing.

Originally Posted by marketwavez2

This is actually working out very well so far ........

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

oh dear, eurusd hourly chart also look like abc where c=a
If this is indeed a correction only and not breakout......wow

Originally Posted by marketwavez2

Usd/Yen


Trade Result :

No , I'm not in Europe ,,,,,

alarms for Usd/Yen pair has reached their target , woke me up 2 hrs earlier

( this is my second best trade for the week )

-------------------------------- ------------------------- -------

This was a great trade. It has so much momentum behind it because everyone was trying to call a bottom rather than go with the trend. FXCM's SSI indicator showed that traders were trying to pick the bottom (buy) on a 6 to 1 ratio. So there were 6 buyers for every 1 seller out there. Wow, that was an extreme reading for sure. Anything above or below 3 starts to get extreme and is worth looking at.

Crushing blow to the USD bulls this morning