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07-30-2008, 11:11 PM
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Quote:
Originally Posted by terton
Don't do that, mate! You will miss the upmove altogether. Who says it is an A-B-C coming from five impulsive waves down? God?  The dollar rally correction is complete against the euro.
Short term: strong suppport on the shoulder at 1.5553 math level. 1.5640 to 1.5760 will be the second shoulder. 200 pips upside coming soon.  |
???
I am not sure if I understand your joke or if you are trying to be sarcastic in your post. I can dig your old post and show how in the past you kept flipping your long and bear Euro position.
I don't overtrade just because I believe in a certain count or price direction. I only trade when I believe it's a high probability setup. I usually also post price entry, stop loss, and target profit in real time, like stryker, when I do enter a trade, so others can clearly see how wrong I am I don't just put a chart and analysis of what I think the market is going.
Good luck in your 200 pips profit beforehand.
Last edited by cmellon; 07-30-2008 at 11:16 PM..
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07-31-2008, 01:14 AM
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Convergence
Hi Can someone tell me whether its a convergence or easing sell off pressure
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07-31-2008, 02:34 AM
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I think Terton may actually be right. Look at oil & gold shooting up, seems dollar bulls may have been misled.
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07-31-2008, 02:43 AM
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Quote:
Originally Posted by chupacabra
I think Terton may actually be right. Look at oil & gold shooting up, seems dollar bulls may have been misled.
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It's all part of the cycle. IMO, dollar bulls is not misled. EUR is one of the clearest currency pair to do EW analysis.
If the count I had in my earlier chart is correct, it's very obvious EUR has to first correct in a zigzag. Wave A target = 1.5673. Upon reaching A, wave B target = 1.5566. After reaching B, wave C target = 1.5779.
EUR will then start to go downhill again from there. Right now I am putting my standing short order at 1.5779 to catch the next 5 wave down. This standing order is probably going to be executed in the next 3 days.
P.S. There is a good chance that correlation between oil and EUR will soon break. Look at Italm nice analysis at the EW forum for the reason.
Last edited by cmellon; 07-31-2008 at 02:46 AM..
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07-31-2008, 04:52 AM
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Join Date: Jul 2008
Posts: 147
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Quote:
Originally Posted by cmellon
It's all part of the cycle. IMO, dollar bulls is not misled. EUR is one of the clearest currency pair to do EW analysis.
If the count I had in my earlier chart is correct, it's very obvious EUR has to first correct in a zigzag. Wave A target = 1.5673. Upon reaching A, wave B target = 1.5566. After reaching B, wave C target = 1.5779.
EUR will then start to go downhill again from there. Right now I am putting my standing short order at 1.5779 to catch the next 5 wave down. This standing order is probably going to be executed in the next 3 days.
P.S. There is a good chance that correlation between oil and EUR will soon break. Look at Italm nice analysis at the EW forum for the reason.
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Wow, this looks like a clear trading plan - but you are just playing wave C so 1,5566 to 1,5779?
You are up early ? - where are you from Cmellon ?
GL |
07-31-2008, 05:12 AM
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Technical Trader
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Join Date: Apr 2004
Posts: 1,908
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just finished decent scalps on longs above 5598 to the current high and then shorts from around the highs for another 27 pips.
leaving for the better part of the day and leaving intact short entries from around close to 5666 with stops above.
i hope to see 5585-5666 getting palyed out and anything above or below i don't have stomach for it today..
come tomorrow and depending upon the numbers 5775-85 would be on the cards. possible extension testing 5820 region (would not miss shorts with tight stops)
last week or so is just take what u can and make a run for it.....
things should be clearer once the NFP is out the way..
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...
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07-31-2008, 05:26 AM
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Went long at 5575 and TP at 5620.
Took a short now, waiting for the GDP.
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07-31-2008, 05:30 AM
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Quote:
Originally Posted by b3nni
Wow, this looks like a clear trading plan - but you are just playing wave C so 1,5566 to 1,5779?
You are up early ? - where are you from Cmellon ?
GL
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Hi b3,
Actually I plan to play after wave C is finished (similar to stryker), that is going short around 1,5779. Today, 1,5641 is merely a 50 fib retracement, not as high as I would like it to be 61.8 fib retracement to 1,5673, but it's still early today. Depending on the price movement after NFP on Friday (NFP is very unpredictable), I may decide to even play safer, that is proving that EUR indeed falls down further in wave 1 after wave C is finished, retraced to wave 2, then I will definitely enter going short for wave 3.
I currently live in HK, GMT+8
GL. |
07-31-2008, 06:04 AM
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Join Date: Jun 2008
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Hey stryker - I tried to download your link and it keeps crashing my browser? Anyone else having a problem?
Thanks stryker - am learning lots from you and your friends here.
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07-31-2008, 06:20 AM
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Posts: 321
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Hi Stryker!
I have down loaded the link with no problem.
I like to thank you for the great materials you're posting which I call "STU" (Stryker's Trading University).
Thanks& GL.
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07-31-2008, 06:25 AM
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Join Date: Jul 2008
Posts: 147
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Quote:
Originally Posted by jennyjenny
Hey stryker - I tried to download your link and it keeps crashing my browser? Anyone else having a problem?
Thanks stryker - am learning lots from you and your friends here.
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Too many charts and TL keep crashin computers 
No all fine here.
b3 |
07-31-2008, 06:41 AM
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Join Date: Jul 2008
Posts: 147
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Quote:
Originally Posted by cmellon
Hi b3,
Actually I plan to play after wave C is finished (similar to stryker), that is going short around 1,5779. Today, 1,5641 is merely a 50 fib retracement, not as high as I would like it to be 61.8 fib retracement to 1,5673, but it's still early today. Depending on the price movement after NFP on Friday (NFP is very unpredictable), I may decide to even play safer, that is proving that EUR indeed falls down further in wave 1 after wave C is finished, retraced to wave 2, then I will definitely enter going short for wave 3.
I currently live in HK, GMT+8
GL. |
All right, sounds good, getting more and more comfortable with the combination of EW and fibos.
Strykers Tls though still keep wondering me...he does not combine EW 2-4 and 1-3 trend channels - so what concept is this - pretty accurately predicting tops and bottoms
Best wishes to HK -- nice!
I am based in the heart of the Alps Innsbruck/ Austria !
GL today ! |
07-31-2008, 07:26 AM
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Join Date: Feb 2008
Posts: 177
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Thanks stryker for the charts, most interesting!
Quote:
Originally Posted by jennyjenny
Hey stryker - I tried to download your link and it keeps crashing my browser? Anyone else having a problem?
Thanks stryker - am learning lots from you and your friends here.
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Do you have Microsoft Word installed ? A recent version? |
07-31-2008, 07:33 AM
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Join Date: Feb 2008
Posts: 177
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Quote:
Originally Posted by b3nni
I am based in the heart of the Alps Innsbruck/ Austria !
GL today !
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Hallo Innsbruck, ich selbst bin aufgewachsen in der Scheiz, in der Naehe von Zuerich, lebe seit einiger Zeit 1-1/2 Stunden westlich von Boston. Hier giebt es keine Alpen, jedoch viele Waelder und kleine Seen. Nicht so dicht besiedelt wie die Schweiz. |
07-31-2008, 07:42 AM
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Member
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Join Date: Apr 2008
Posts: 1,495
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Quote:
Originally Posted by b3nni
All right, sounds good, getting more and more comfortable with the combination of EW and fibos.
Strykers Tls though still keep wondering me...he does not combine EW 2-4 and 1-3 trend channels - so what concept is this - pretty accurately predicting tops and bottoms
Best wishes to HK -- nice!
I am based in the heart of the Alps Innsbruck/ Austria !
GL today !
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Stryker trades purely based on Trend Line. He is the expert on it. Any method of trading in the hand of a capable person can be profitable.
Check out the strategy forum (see in particular Elliot Wave forum) for very good posting from members such as brad. He combines many of these methods (Fib, EW, TL, candlestick, and other technical indicators) to give some really interesting trade recommendation. |
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