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06-09-2009, 10:45 AM
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Quote:
Originally Posted by trader144
Hey Pippin-
Do you use the macd/rsi for divergence or just look to see that they are moving upwards? As I told Justy, just asking out of curiosity. No need to divulge anything that you deem private towards your trading plan.
Thanks,
T144
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No ............... Macd like most indicators lags behind price
Most Indicators are lagging indicators ,
Ralph Nelson Elliott
the man who created Elliott Waves did not use MACD , so why should we ?
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Last edited by marketwavez2; 06-09-2009 at 10:56 AM..
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06-09-2009, 10:48 AM
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Cable update
If we move into the 1.64 territory, what does that mean bigger picture?
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06-09-2009, 10:54 AM
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usyen
Has anyone notice the change in correlation with the yen now strengthening along with other non usd major currencies. Changes perspective on the yen crosses?
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06-09-2009, 11:17 AM
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Quote:
Originally Posted by trader144
Hey Pippin-
Do you use the macd/rsi for divergence or just look to see that they are moving upwards? As I told Justy, just asking out of curiosity. No need to divulge anything that you deem private towards your trading plan.
Thanks,
T144
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Its no big secret.
RSI for divergence. The MACD needs to cross, above/below a certain level, (if it crosses high, it wil fall deep and vice versa) on the 4h chart to identify the trend (more as a confirmation for the wave count) and then the 5MA needs to cross the 8MA in the same direction, that is the entry signal. Stop is above/below latest high/low. You can also use the 15m MACD to confirm your entry on the larger timeframe.
But all of this with a good wavecount. No count no entry. |
06-09-2009, 11:31 AM
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Quote:
Originally Posted by ForexTrade
Its a dam good set up!! Even if it does not hit your target, however i think it will!!!
Much to learn from you Mr Marketwavez.
Tell us what you think may be going on with USDJPY. here a chart of my thinking.
Ta
FXT
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Usd/Yen
Mid-term view ---------- 
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FXT, your Usd/Yen chart you just posted of " your thinking" doesn't have a wave count on it ....
Last edited by marketwavez2; 06-09-2009 at 11:34 AM..
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06-09-2009, 11:37 AM
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Quote:
Originally Posted by marketwavez2
Gbp/Usd
Chart Update :
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Only a probability......... Not Cast in Stone !
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Hi market, have you got an update on the cable daily count? Cheers. |
06-09-2009, 11:50 AM
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Quote:
Originally Posted by marketwavez2
Usd/Yen
Mid-term view ----------
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FXT, your Usd/Yen chart you just posted of " your thinking" doesn't have a wave count on it ....
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Hi Market
I didnt have a mid term view but heres what i think could be occuring on a short time frame.
All comments welcome.
Ta
FXT |
06-09-2009, 11:55 AM
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Moment of truth
Moment of truth, will price enter wave 1 area 4072?
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06-09-2009, 11:59 AM
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Quote:
Originally Posted by 4cfx
Hi market, have you got an update on the cable daily count? Cheers.
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i have already posted it ,,,,,,,,,,,,, scroll back 1 or 2 pages to see it
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Last edited by marketwavez2; 06-09-2009 at 12:02 PM..
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06-09-2009, 01:02 PM
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Took a short position in the EUR/USD at 1.4050. I'm looking for the retest of the channel bottom to fail right here. If it does, the downside could be big. If it doesn't, then the risk is tolerable. The rally off of 1.38 is uninspiring and choppy. Looks very corrective and what you would expect after a breach of a channel.
I guess it depends if the dollar rally yesterday was a one shot wonder and we are going lower OR today is just a correction in the beginning of a dollar move higher. Time will tell.
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06-09-2009, 01:05 PM
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Quote:
Originally Posted by Ilovepippin
Moment of truth, will price enter wave 1 area 4072?
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Weekly pivot sits at 4079 as well
__________________
Don't Chase the market let the market come to you
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06-09-2009, 01:20 PM
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daily for cable
This could be another possibility working it's way up, although it doesn't really fit in well with a recovering USD. A truncated 5th and retesting the low 1.50s before completing c? Just probabilities
Last edited by Trading4cash; 06-09-2009 at 01:43 PM..
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06-09-2009, 02:01 PM
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USD.CHF
Short term count...
Fibo extensions in action...
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06-09-2009, 02:30 PM
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Quote:
Originally Posted by Ilovepippin
Moment of truth, will price enter wave 1 area 4072?
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now that it has indeed entered this area what would your new outlook be?
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Don't Chase the market let the market come to you
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06-09-2009, 02:49 PM
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Quote:
Originally Posted by CodyB
now that it has indeed entered this area what would your new outlook be?
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Something like this: |
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