We have seen this range bound market for the last three weeks almost.
I really do not know how elliot wave traders count on such range bound market unless they use some other tools !
Easy!!! If price consolidates then its corrective, wB/X/2/4. You find w(a) wB/X/2/4, fib it out(23.6-76.4) for flat or fib it out(100-161) for expanded flat to find out w(b) completion, then trade wC being that is the most violent of the corrective waves. Stan and I found Tuesday's bottom(line) and rode long. TADow and I found Wednesday's low and rode it long. The shorts at the top of the range has been contained by hrly 200ma, and 38.2 of 2920 drop, that added with an eventual w3/C down scenario made shorting when the indies were exhausted, CAKE!!! They say in the EW world, 'if you can master the corrections/retracements.......'. So once you learn EW and can determine the many variations of corrections, then you too will be entertained by those that don't know where the market is headed. Dude the EW counts told the story a month ago, Aug 5th to be exact. We've been abusing e/u in both directions. Btw, it maybe to late to go long. I know me and my folk are building shorts. Most EW folk, I think are looking for a w3/C short, so the party will start any day now. I will personally be looking at the 11p-11:30 time frame to test the dollar gap theory.
A-Yooooooooooooooooo
Last edited by AyoBro; 09-12-2010 at 10:03 PM.
Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'
Easy!!! If price consolidates then its corrective, wB/X/2/4. You find w(a) wB/X/2/4, fib it out(23.6-76.4) for flat or fib it out(100-161) for expanded flat to find out w(b) completion, then trade wC being that is the most violent of the corrective waves. Stan and I found Tuesday's bottom(line) and rode long. TADow and I found Wednesday's low and rode it long. The shorts at the top of the range has been contained by hrly 200ma, and 38.2 of 2920 drop, that added with an eventual w3/C down scenario made shorting when the indies were exhausted, CAKE!!! They say in the EW world, 'if you can master the corrections/retracements.......'. So once you learn EW and can determine the many variations of corrections, then you too will be entertained by those that don't know where the market is headed. Dude the EW counts told the story a month ago, Aug 5th to be exact. We've been abusing e/u in both directions.
A-Yooooooooooooooooo
Buddy, can you please point me to some good exhaustive EW links? Babypips one is too small and I have never been able to put it to practice.
Thanks a lot.
Also, does anyone know where can I get all those USDX, EUR index and other currency index to get a view of where currencies are headed. Someone pointed a broker called THE ICE but I think you have to be a client there.
early to tell, lets see where x4 on 15 min. ends. we could see 1.2867 area before we head south.. ( could head south sooner )
Thanks man. Just trying to setup some short entries before I head off to bed. I've already scalped e/u for a short but looking to get a better enty. And my a/u short has been looking lovely for the last hour.
A-Yoooooooooooo
Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'
Buddy, can you please point me to some good exhaustive EW links? Babypips one is too small and I have never been able to put it to practice.
Thanks a lot.
Also, does anyone know where can I get all those USDX, EUR index and other currency index to get a view of where currencies are headed. Someone pointed a broker called THE ICE but I think you have to be a client there.
Buddy, can you please point me to some good exhaustive EW links? Babypips one is too small and I have never been able to put it to practice.
Thanks a lot.
Also, does anyone know where can I get all those USDX, EUR index and other currency index to get a view of where currencies are headed. Someone pointed a broker called THE ICE but I think you have to be a client there.
Still not trading and its been like 10 days so far..
Just woke up and decided to post the charts..
2797 followed by better one around 2815-20, above that well it could go some distance......
GL...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Still not trading and its been like 10 days so far..
Just woke up and decided to post the charts..
2797 followed by better one around 2815-20, above that well it could go some distance......
GL...
Sup Stryke, welcome back man, missed you. I have 2810 as resistance then back below 2770ish. I a forceful push above without a decent decline would take on a different scenario long.
Testing some things with the dollar. So I'm thinking the dollar gaps over the weekend are quite different than the day gaps that occur around midnight everyday during the week. Last week's gap still hasn't closed. So I'm looking at what direction e/u is moving before the dollar comes online. I have my resistance levels of 2810 & 2826. So I turn to my indicators to check for exhaustion. Looking closer, the gap did not occur over the weekend, instead it was Tuesday morning(12am-ish) when it occurred, possibly as a result of e/u droping 80 pips. Right after the dollar's open, it tried to close its gap by dropping more than 70 pips, while e/u had barley bounced during that same 5min time period. Instead e/u's decline accelerated causing the dollar to toy with its gap and longed thru out the rest of the week.
A-Yoooooooooo
Last edited by AyoBro; 09-13-2010 at 02:02 AM.
Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'
can someone point me to a place where I can get USD index, EUR index, CHF index etc. i can still find USD index on one website but others aren't there to be seen anywhere.
can someone point me to a place where I can get USD index, EUR index, CHF index etc. i can still find USD index on one website but others aren't there to be seen anywhere.
I get my US Index from the netdania.com charts. I've looked and they have the other indexes your looking for as well. Forex Charts | Currency Charts
Nite folks
A-Yoooooooooooooooo
Last edited by AyoBro; 09-13-2010 at 02:49 AM.
Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'
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Originally Posted by NMV
