Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

Not a good day!! No trading at all till now for me .... It has been going down since 6 pm ... Hope it starts up soon to have some short opportunity

Right now, the only thing in plain sight that COULD turn things around for the Euro, at least temporarily, is if something comes out of Geithner's meetings in London tomorrow.

Originally Posted by stanchiam

ending diagonal wave 5 of 5 of 3/C
Anyone going to lock and load?

Miss it and regret

Think someone quoted "One of the more useless practices is see on this forum is traders drilling down thorugh charts from the 1 HR to 1 MIN until they find a chart pattern that supports whatever theory they believe at the moment."

Oh well, guess I am the guilty one. But I don't care as long it works for me.
Money in my pocket is the most important thing for me.
Good luck

Originally Posted by stanchiam

Think someone quoted "One of the more useless practices is see on this forum is traders drilling down thorugh charts from the 1 HR to 1 MIN until they find a chart pattern that supports whatever theory they believe at the moment."

Oh well, guess I am the guilty one. But I don't care as long it works for me.
Money in my pocket is the most important thing for me.
Good luck

Ohh Stanchiam .. Really nice work .. I really appreciate it ..

Originally Posted by Qabazard

Ohh Stanchiam .. Really nice work .. I really appreciate it ..

Thanks. Appreciate it too

It took almost 8 Hours but, 1.2325 paid off with 50 Pips.
At this point I honestly don't know what to do next.
The Brownies have done some Crazy things in the Past. So I'll place another short up at 1.2375.
Stranger things have happened.

Originally Posted by stanchiam

Thanks. Appreciate it too

Wish you all success dear brother .. But i have one question if you may : Actually I'm still wondering How/Why do you consider some bunch of candle cluster os wicks or accumulation or peak etc .. as a No. 4 (let's say) for example .. and ignore the ones beside that ?

In other words : How can one "defferntiate" and filter a whole mess of candle jungle ! to count these and leave those ??

Does it depend on experience ? Or does it depend on Moving average merging in a whole picture ? Or maybe the "LENGTH" of certain waves decides all the matter ? Ohhh Frankly I really want to understand Elliott waves .. But I feel It too complicated ? Any hint dear friend .. Many thanks to you ,,

I have just had a run of bad trades just not feeling it this week want opinions of what you see here, and if anyone can comment on what I might want to pay attention for when looking for a good entry. Just need a good old fashioned confidence builder this week

How is it possible to tell what is what...It always seems like whoever is using that method is guessing until obvious moves have happened. Sometimes they skip over certain peaks and say oh mayb this is wave 4 of 5 or Wave aii...Im sure it might help u but seems like it only works in hindsight...Predictions not so much...Somebody prove us wrong

Originally Posted by Qabazard

Wish you all success dear brother .. But i have one question if you may : Actually I'm still wondering How/Why do you consider some bunch of candle cluster os wicks or accumulation or peak etc .. as a No. 4 (let's say) for example .. and ignore the ones beside that ?

In other words : How can one "defferntiate" and filter a whole mess of candle jungle ! to count these and leave those ??

Does it depend on experience ? Or does it depend on Moving average merging in a whole picture ? Or maybe the "LENGTH" of certain waves decides all the matter ? Ohhh Frankly I really want to understand Elliott waves .. But I feel It too complicated ? Any hint dear friend .. Many thanks to you ,,

Again I'm re-posing my question to all ELLIOTTISTS !! :
i have one question if you may : Actually I'm still wondering How/Why do you consider some bunch of candle cluster os wicks or accumulation or peak etc .. as a No. 4 (let's say) for example .. and ignore the ones beside that ?

In other words : How can one "defferntiate" and filter a whole mess of candle jungle ! to count these and leave those ??

Does it depend on experience ? Or does it depend on Moving average merging in a whole picture ? Or maybe the "LENGTH" of certain waves decides all the matter ? Ohhh Frankly I really want to understand Elliott waves .. But I feel It too complicated ? Any clue ,,

Originally Posted by Qabazard

Wish you all success dear brother .. But i have one question if you may : Actually I'm still wondering How/Why do you consider some bunch of candle cluster os wicks or accumulation or peak etc .. as a No. 4 (let's say) for example .. and ignore the ones beside that ?

In other words : How can one "defferntiate" and filter a whole mess of candle jungle ! to count these and leave those ??

Does it depend on experience ? Or does it depend on Moving average merging in a whole picture ? Or maybe the "LENGTH" of certain waves decides all the matter ? Ohhh Frankly I really want to understand Elliott waves .. But I feel It too complicated ? Any hint dear friend .. Many thanks to you ,,

using channel surfing, chart formation, probabilities, fibo and experiences
Most importantly to me is EW and its extension towards resistant or support clusters

Originally Posted by Pipping aint EZ

How is it possible to tell what is what...It always seems like whoever is using that method is guessing until obvious moves have happened. Sometimes they skip over certain peaks and say oh mayb this is wave 4 of 5 or Wave aii...Im sure it might help u but seems like it only works in hindsight...Predictions not so much...Somebody prove us wrong

Yes, right. In trading, nothing is 100%. Using probabilities and EW, the chances is greatly enhance, lose small win big.
However, there are times that you can find the end of wave 5 which helps to identify turning points.

Not perfect formation but we'll have to see if it plays out.

I could teach anyone how to trade with only the 200ma and an indicator (the 45 degree line) Had to get some rest. Now lets add and indicator the The fib

We had a break of the 15min 45 line on the up trend. We could have road the down trend but I got tired and had to get some rest. Since it failded the 15 min up trend line, we drop to the 5 min TF. Look at this Chart really close.