Elliott Wave Trading Discussion - Page 615

kasiel77 · #**9211** (**permalink**) 03-26-2009, 10:38 AM

A litter one.
Name: EurJpy_001_015m_20090326_1015.gif
Views: 286
Size: 15.9 KB

apipintime · #**9212** (**permalink**) 03-26-2009, 11:07 AM

We could be getting close to a wave 4 bottom. There is a nice confluence of support in the 1.4420 area. I have placed a buy limit @ 1.4448 and my stop is @ 1.4218. First target is 1.4983 (Wave A high) Second target is 1.5280 (261.8% of wave 1). Risk/Reward ratio is 2.3:1.

cmellon · #**9213** (**permalink**) 03-26-2009, 11:11 AM

Quote:

Originally Posted by apipintime

We could be getting close to a wave 4 bottom. There is a nice confluence of support in the 1.4420 area.

Everyone has turned bearish now with GBP USD. You and I are probably the only people left with bullish view, LOL.

apipintime · #**9214** (**permalink**) 03-26-2009, 11:18 AM

Quote:

Originally Posted by cmellon

Everyone has turned bearish now with GBP USD. You and I are probably the only people left with bullish view, LOL.

It will be interesting to see if the 1.4400 area holds, considering the price projection from the Head and Shoulders pattern that is visible on the one hour chart I posted is around 1.43. Anxious times.

cmellon · #**9215** (**permalink**) 03-26-2009, 11:33 AM

Quote:

Originally Posted by apipintime

It will be interesting to see if the 1.4400 area holds, considering the price projection from the Head and Shoulders pattern that is visible on the one hour chart I posted is around 1.43. Anxious times.

Even if it breaks lower than 4390, it is still supposed to go higher than 4985 after the downmove is complete.

kasiel77 · #**9216** (**permalink**) 03-26-2009, 11:35 AM

Quote:

Originally Posted by apipintime

We could be getting close to a wave 4 bottom. There is a nice confluence of support in the 1.4420 area.

We are wait the same, but my support be in 1.44156 not to far

Name: GbpUsd_060m_20090326_1035.gif
Views: 379
Size: 15.7 KB

apipintime · #**9217** (**permalink**) 03-26-2009, 11:58 AM

Quote:

Originally Posted by cmellon

Even if it breaks lower than 4390, it is still supposed to go higher than 4985 after the downmove is complete.

What would you consider to be too much of a breach of 4390?

cmellon · #**9218** (**permalink**) 03-26-2009, 12:10 PM

Quote:

Originally Posted by apipintime

What would you consider to be too much of a breach of 4390?

There's a 38.2% fib support from low 3/11 (3650) to high 3/24 (4770). The fib support is at 4345 approximately. If price goes lower than this, then that's too much and cancels my ITD 4 high count position.

By the way, if you assume wave 4 of C = wave 2 of C, actually the termination point is at 4390. What a coincidence.

apipintime · #**9219** (**permalink**) 03-26-2009, 12:27 PM

Quote:

Originally Posted by cmellon

There's a 38.2% fib support from low 3/11 (3650) to high 3/24 (4770). The fib support is at 4345 approximately. If price goes lower than this, then that's too much and cancels my ITD 4 high count position.

By the way, if you assume wave 4 of C = wave 2 of C, actually the termination point is at 4390. What a coincidence.

Nice observation!

broyboy · #**9220** (**permalink**) 03-26-2009, 02:02 PM

Quote:

Originally Posted by cmellon

There's a 38.2% fib support from low 3/11 (3650) to high 3/24 (4770). The fib support is at 4345 approximately. If price goes lower than this, then that's too much and cancels my ITD 4 high count position.

By the way, if you assume wave 4 of C = wave 2 of C, actually the termination point is at 4390. What a coincidence.

I'm with you on this. My count shows possibly a zig zag complete from 1.4777 and i'm long at 1.4426. Still working on targets but I like your stop below 1.4345.

StriderX · #**9221** (**permalink**) 03-26-2009, 02:03 PM

Here's a 12 point ITD (Delta)-- affords less debatable inversions
Looking for The 5 to arrive as early as now/tomorrow or perhaps next week

2nd chart viewing hrly potential 4th wave shaping into next supp below today's 1.4513 break

entering long when time sorts out with 3rd wave hrly fib retraces

ravno · #**9222** (**permalink**) 03-26-2009, 02:13 PM

Quote:

Originally Posted by marketwavez2

no Justy
I'm not saying open one thread for each of them

i think ,
we should have 1 thread for it all ------

because there are too many different MM strategies

and besides , Money Management threads on other forums
are some of the most active threads .......

All the newbies should be spending time learning Money Management skills
and a thread dedicated to MM would help that effort

1 thread should be dedicated to money Management Strategies

On a another note :

to many people in here post wave- counts , but never indicate an entry price
and worst of all people are not in the habit of coming back and posting a result chart
...........Posting result charts helps to hone your chart skills
also ,
comming back and posting a result chart is what will enable you to
go back and learn from your own charts ......... and learn from your own mistakes

it's so sad that that people just want to post charts - with no eventual follow up ......

In Time ,
reviewing your own charts will always be your best teacher

/////////////////////////////////////////////////////////////////////////

I think too that another thread, for MM purposes, will _not_ help, for the very easy reason...
MM is the core of the trading. And intelectually it's quite easy to formulate the MM rules. You don't have to duscuss here a lot. The rules are very clear and easy to understand.
But.
To make it work for yourself is totally other task.
Here no discussion will help, actually only opposite result could be archived...
Too much talking instead of working...
One has just to go through and make it work for himself.

As for posting the results...
I personally have given up doing it here, simply because it doesn't bring anything. Why should i spent time just to show others whether i was write or wrong with my setup ? What's the case ?

Finally, i think that the main goal for this thread is to post the possible setups and then everyone decides for himself what to do with the information given.
And this task has been till now pretty good fullfilled.

bluebottle · #**9223** (**permalink**) 03-26-2009, 02:14 PM

hi all,

my eurchf chart..

ur comments are welcome..

bluebottle · #**9224** (**permalink**) 03-26-2009, 02:18 PM

Quote:

Originally Posted by ravno

I think too that another thread, for MM purposes, will _not_ help, for the very easy reason...
MM is the core of the trading. And intelectually it's quite easy to formulate the MM rules. You don't have to duscuss here a lot. The rules are very clear and easy to understand.
But.
To make it work for yourself is totally other task.
Here no discussion will help, actually only opposite result could be archived...
Too much talking instead of working...
One has just to go through and make it work for himself.

As for posting the results...
I personally have given up doing it here, simply because it doesn't bring anything. Why should i spent time just to show others whether i was write or wrong with my setup ? What's the case ?

Finally, i think that the main goal for this thread is to post the possible setups and then everyone decides for himself what to do with the information given.
And this task has been till now pretty good fullfilled.

"main goal for this thread is to post the possible setups and then everyone decides for himself what to do with the information given."

well said Ravno!!

eXitTrader · #**9225** (**permalink**) 03-26-2009, 02:18 PM

Quote:

Originally Posted by eXitTrader

Lets see if patience pays off. Nothing like buying/selling into a deep correction (if that's what this is) Short from 1.4696. Stops above 1.4775 (for the moment). Targets beginning at 1.4450

Target 1 achieved, but on what count? Hmmm.....I'm starting to prefer a decidedly more bearish count. Removed limits on last two open positions. Stops at breakeven+. Lets see how far this wants to go.