Jul 26, 2007 10:43pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Getting Deeper
Trying to focus
More specifics:
Now working on M3.3.5.3.3.4.
This should have the folowing levels as targets:
38% which is normal - 2.0425
50% which is normally the maximum for wave 4 as retracement from wave 3 - 2.0354
61.8% as a probable accident? @ 2.0284
Wave 4 is normally less than 50% and normally 38% of wave 3
When M3.3.5.3.3.4 is finished
Next target is M3.3.5.3.3.5 or M3.3.5.3.3 on the bigger wave degree. This is 161.8% of M3.3.5.3.1
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Last edited by el grande, Jul 26, 2007 10:55pm Reason: replace chart
http://www.forexfactory.com/images/buttons/quote.gif #122
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 26, 2007 11:08pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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http://www.forexfactory.com/images/icons/icon1.gif H4 Inner Count
H4 Inner Count
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#123
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 26, 2007 11:17pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif H1
H1 Chart
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#124
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 26, 2007 11:37pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Re-entering a Long Position
I maybe wrong on this , but if this goes against me, will just increase SL to protect Trade and maybe enter a new Long Trade when this bottoms this wave for Wave C.
However, what you see for Wave B seems just a 5 part wave which can be the wave a inside a zigzag Wave B.
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#125
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 26, 2007 11:47pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif m15 small c projection
small c projection inside Wave B
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#126
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 26, 2007 11:58pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif m15 Bigger Picture
m15 bigger picture
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#127
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 12:11am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Leaving for the afternoon here
Leaving my trade to run.
Small wave c of Big Wave B Target @ 50% of small wave a 2.0539.
May not be able to trade Big Wave C down. But will leave 3 Buy Limit Orders or trades at following levels based on Wave A relationship with Wave C Projections in Percentage.
61.8% - 2.0284
100% - 2.0055
161.8% - 1.9686
Conservatively, I should only have just 1 at the 61.8%. so that if it goes further down to 100% or 161.8%, I will still have enough for my increased SL. But since I am on demo for this, I will leave 3.
If I trade this LIVE, then I will only leave 1 at 61.8%
May you all harvest lots of pips on his Cable Trade.
EG
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#128
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 1:52am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif A Trial Count on AUDUSD
Monthly Big Picture
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#129
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 1:54am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD Close-up on Monthly
AUDUSD Close-up on Monthly
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#130
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 1:57am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD - Projection on the Monthly
AUDUSD - Projection on the Monthly
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#131
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 1:59am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD - Details on the 1st Target
AUDUSD - Details on the 1st Target
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#132
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 2:01am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD - Weekly
Refining the Waves in the weekly chart toward the 1st Target on the Monthly Chart
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#133
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 2:05am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD - Daily_001
AUDUSD on the Daily Chart
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#134
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 2:07am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD - 4h_001
1st on the 4h Chart
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#135
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 2:28am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPUSD Update towards EURO Opening
GBPUSD Update towards EURO Opening
I am down 75 pips on this trade. So still just have 1 Long trade going now on Cable. But leaving my 3 Buy Limits ON.
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http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 2:57am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Revising my count on Wave B
Revision
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http://www.forexfactory.com/images/buttons/quote.gif #137
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 3:22am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD - H4 Update
Update
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#138
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 3:44am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif H1_Update towards London Open
Into London Open
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#139
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 4:01am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD _ H4 My trade
H4- Chart
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#140
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 4:16am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD _ 4h_details
Details
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#141
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 4:21am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD_wave b of M3.3.3.3.4
Wave b
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#142
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 5:19am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD _ Support and Resistance Trendlines
Trendlines to aid EW Analysis
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#143
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 6:17am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif NZDUSD _ A Trial EW Count
NZDUSD Target on Monthly Chart
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#144
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 6:19am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif NZDUSD - Weekly
EW on the weekly Chart
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#145
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 6:21am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif NZDUSD - Daily Chart
EW Count on the Daily Chart
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#146
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 6:23am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif NZDUSD - 4H Chart
NZDUSD 4H Chart
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#147
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 7:16am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Nzdusd - 1h
NZDUSD - 1H Chart
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#148
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 7:27am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif NZDUSD - m30 Chart
NZDUSD - m30 chart
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#149
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 7:53am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPUSD Update into US Open
GBPUSD Update.
Currently, down by 188 pips, already earned 132. I am letting the current negative trade stay until I can identify the bottom here.
I could probably ride the wave down, but will not. Will get back into a new trade.. that is add to my existing one on the Cable later when it bottoms. I will put in an additional trade.
This is where it is sometimes difficult when you are trading live. That is me speaking from experience. More often than not, emotions kick in.
The way I see it now is that .... it may be necessary to have a big SL like 200 to 300 for GBPUSD, AUDUSD and NZDUSD.
Although I do not recommend that to anybody. I will most likely adopt it on my trades even on LIVE ones. And I will only have myself to kick if I make a mistake on my EW Count. So do not base your trades on my charts. You have to know what, why and how you will trade a currency pair.
So here is the update on my Cable Chart
EG
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#150
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 8:18am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPUSD - EG view
How I see it on the Cable
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http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 8:40am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif NZDUSD - Support and Resistance Lines
SR Levels for NZDUSD
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http://www.forexfactory.com/images/buttons/quote.gif #152
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 9:19am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPUSD - upudate on the US Session
Cable in the US Session
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#153
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 27, 2007 9:25am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif AUDUSD - update
AUDUSD Update
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#154
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 28, 2007 9:53pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Hi El grande
was reviewing somre of yor charts
----------------------------------------------------
quite frankly , they are confusing -http://www.forexfactory.com/images/smilies/yim/confused.gif
They are good but confusing at times
- People looking at your last series of charts will be confused .....
you basically have too much going on on the individual charts
---------------------------------------------------------
Here are some suggestions -
I think you should leave the WXY formations alone
Don't label anything on any chart WXY anymore .....
Please Stop , if you can ( I'm only trying to help )
-------------------------------------------------------------
I have read Nelson Elliott' s work and he doesn't
speak of WXY formations , So forget about them
Concentrate on finding ABC Corrections
this is the heart of Elliott Waves Formations
also try to locate end of E-waves
I haven't seen you point out any E-Waves anywhere !
Why is this ?
- are you not aware of End of E-wave Formations ?
-----------------------------------------------------------------------
E-wave are important because they are occurring
most of the time within Consolidation periods ........
---------------------------------------------------------
by the way
the best ( 3 ) places to look to enter a market
when utilizing Elliott Waves
is the End of Wave B or the End of Wave 2
and also what is called an Extended 5th wave
(an extend 5th wave is 5 minor waves waves within an end of a 5th wave )
-----------------------------------------------------------
Then End of a wave 4
is the worst Place to look to enter a market
Why ?
- because this is where consolidation is most likely to occur .
This is statistically speaking of course ......http://www.forexfactory.com/images/smilies/yim/happy.gif
/////////////////////////////////////////////////////////////////////////////
You want to know more ?
Send me a Private Message .........Good Luck.....
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#155
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 28, 2007 10:04pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Here is the latest Long-term Usd/Gbp Wave -count (Weekly Bars )
----------------------------------------------------
Simple and Clear ..............( No use of WXY )
///////////////////////////////////////////////////////////////////////
See Chart Below
-------------------------------------------------------------
Gbp/Usd appears to be topping out at the End of a Wave 5
and moving towards Wave A Low .............It's that simple
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Last edited by marketwavez, Jul 28, 2007 10:27pm
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#156
http://www.forexfactory.com/images/statusicon/post_old.gif Jul 28, 2007 10:11pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Pg-2
---------------------------------
Gbp/Usd ( Daily Bars )
El- Grande
Keep you eye on the 5 wave Group in the red color.........http://www.forexfactory.com/images/smilies/yim/happy.gif
------------------------------------------------------------
This is the count that appears to in play these days
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Aug 1, 2007 3:40am
http://www.forexfactory.com/nfs/avatar43693_2.gifal_yaqen
Member
Member Since Jul 2007
70 Posts
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to marketwaves abc correction with adding a few lettered phase such as wxyz is not a problem. If you really study about pure ew theory u will see the "numbered phase" and "lettered phase". find the meaning. keep it up guys.
al yaqen
__________________
an evening on the bench ...
http://never-retrace.blogspot.com
http://www.forexfactory.com/images/buttons/quote.gif #167
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 1, 2007 7:30pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif An Invitation To All
fellow traders...
at first EW Analysis can be very intimidating. but if you really set your mind into it, i think you will be amazed at how it helps you analyze price direction.
very few really post their EW thoughts because they fear that their counts are not correct.
i have taken that risk of getting ridiculed by posting what i thought was the EW Count from my end. because I believe that by laying my cards on the table aside from studying EW on my own, I can improve my analysis. others will be able to help me learn it. Just like in class, we need to participate to learn and share what we learn.
I opened this thread in the discussion area hoping to generate discussion on this particular subject. it is not for making calls but for setting out to show where I see price going and WHY.
unless we show where we think price is going ( potential levels ) and explaining or showing why we think price is going a particular way, then we will never understand EW Theory.
This procedure is seldom discussed so it was very difficult for me to follow developments in EW Theory applied in actual charts.
others may explain their current position yet leave out the bigger picture. It is very important that we know were price level is in terms of EW Analysis in all timeframes so we may know the overall picture. small waves we are in on the shorter time frames are part of bigger waves on the next level of time frame. these are further on part of another bigger wave up another timeframe and so on.
I do encourage the rest of you to post your charts so we can discuss them if you have questions.or need to verify something about your analysis. This is not a journal to which many think should only hold their own charts. This is a discussion thread and I am glad that marketwavez is willing to support this thread and share with us his expertise in EW Analysis.
I may not be able to answer everything. You may need to have some patience until someone knowledgeable like marketwavez could reply to your query.
Maybe as guideline or priority, we will focus on the USD Major crosses. I initially started with just the GBPUSD. until I started toying with AUDUSD and NZDUSD. I have not focused so much on the last 2. But I believe marketwavez is willing to help on the rest of the major USD crosses. To me , EW is not a walk in the park and it needs a lot of focus and concentration. I am not sure if someone out there has focused or is doing EW Counts on the Euro and the GBP secondary crosses.
Anyway, try to post your charts and we will try to reply to them. But do not be angry if they are not answered at once or never answered at all. there is no harm in trying.
posting takes up so much time as many who do post will admit. so patience my friends.
remember there is really no right or wrong in projecting price using EW. There are only percentages in probabilities. join me here in generating more discussion in EW Counting.
EG
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#168
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 1, 2007 10:35pm
http://www.forexfactory.com/nfs/avatar3774_3.gifbohebolo
Pattern Trader
Member Since Oct 2005
32 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPUSD
Hi EG,
this is my count on gbpusd, chart is H4. what do u think?
ps: i'm a newbie http://www.forexfactory.com/images/smilies/yim/tongue.gif:
Attached Imageshttp://www.forexfactory.com/attachment.php?attachmentid=41708&stc=1&d=1186022013
Last edited by bohebolo, Aug 1, 2007 11:27pm
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#169
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 2, 2007 5:41am
money
Multiple Usernames
Member Since Jul 2007
http://www.forexfactory.com/images/misc/1kt.gif106 Posts
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check this link-post money...
http://www.forexfactory.com/showthre...=34254&page=87
bohebolo i think that you have point 5 to low,couse wave 5 should be shorter than wave 3,but on this picture is not. i think that it should go down to 2,0130.
nice day
Last edited by money, Aug 2, 2007 5:58am
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#170
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 2, 2007 6:53am
SeekingLight
Charts + PA > *
Member Since Jul 2006
http://www.forexfactory.com/images/misc/10+kt.gif3,195 Posts
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Posted about my attempt at GBPUSD here
http://forexfactory.com/showpost.php...8&postcount=15
Big picture is in
http://forexfactory.com/showpost.php...1&postcount=13
and USDJPY
http://forexfactory.com/showpost.php...&postcount=729
I'm just not sure what we're in NOW. It's clear to me the last lows we made finished a structure, either abc-A on GPUSD or a 123 and now the 4 chop sideways before a last 5 down, but then we'd not be doing a correction but an impulse down, to be followed up?
Neither am I sure whether what we finished on USDJPY...ANY input would help
:P
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#171
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 2, 2007 10:50am
http://www.forexfactory.com/nfs/avatar3774_3.gifbohebolo
Pattern Trader
Member Since Oct 2005
32 Posts
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Quote:
Originally Posted by money http://www.forexfactory.com/images/buttons/viewpost.gif
check this link-post money...
http://www.forexfactory.com/showthre...=34254&page=87
bohebolo i think that you have point 5 to low,couse wave 5 should be shorter than wave 3,but on this picture is not. i think that it should go down to 2,0130.
nice day
Hi Money,
1 of 3 EW rules is "wave 3 can't be the shortest".
But it doesn't has to be the longest.
hope this helps... http://www.forexfactory.com/images/smilies/yim/winking.gif
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#172
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 2, 2007 1:48pm
http://www.forexfactory.com/nfs/avatar43009_17.gifBig Wave Rider
C.E.O of BWR Investment INC
Member Since Jul 2007
http://www.forexfactory.com/images/misc/10+kt.gif3,999 Posts
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A,B,C correction on NZD/USD 4 hr. still waiting for more signals to go long but this looks good.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=41813&stc=1&thumb=1&d=1189894044
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#173
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 2, 2007 2:14pm
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
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Quote:
Originally Posted by bohebolo http://www.forexfactory.com/images/buttons/viewpost.gif
Hi EG,
this is my count on gbpusd, chart is H4. what do u think?
ps: i'm a newbie http://www.forexfactory.com/images/smilies/yim/tongue.gif:
Just a thought....if you were wondering what to label that little wave after 4 you would not be wrong to label it as the 5th wave, wave 5 doesn't have to go past wave 4. It is refered to as a truncated 5th. Only occurs on the 5th wave.
So that would be the end of your larger wave A. You may find we are up part of the way on the B wave now.
Regards.
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#174
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 2, 2007 2:45pm
SeekingLight
Charts + PA > *
Member Since Jul 2006
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Quote:
Originally Posted by Big Wave Rider http://www.forexfactory.com/images/buttons/viewpost.gif
A,B,C correction on NZD/USD 4 hr. still waiting for more signals to go long but this looks good.
If you're looking for a simple correction in the form of an ABC then B must be smaller than A and C at least .618 of A(weak) or equal (normal) or greater than A (strong C).
At least as far as I know. Not that I know much of EW http://www.forexfactory.com/images/smilies/yim/happy.gif
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#175
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 2, 2007 3:54pm
http://www.forexfactory.com/nfs/avatar43009_17.gifBig Wave Rider
C.E.O of BWR Investment INC
Member Since Jul 2007
http://www.forexfactory.com/images/misc/10+kt.gif3,999 Posts
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Quote:
Originally Posted by SeekingLight http://www.forexfactory.com/images/buttons/viewpost.gif
If you're looking for a simple correction in the form of an ABC then B must be smaller than A and C at least .618 of A(weak) or equal (normal) or greater than A (strong C).
At least as far as I know. Not that I know much of EW http://www.forexfactory.com/images/smilies/yim/happy.gif
I just realized that after I posted, I just started to learn about EW and I am quite amazed by it. Thats why I posted to see if someone would correct me if I was wrong, which I was, and thank you for correcting me.http://www.forexfactory.com/images/smilies/peace.gif
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#176
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 3:22am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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All of Technical Analysis is Subjective !
including Elliott Waves , Wolfwaves , Gann , Gartleys , Butterflies
Take yor pick ......All are Subjective !....... Nothing is 100% Reliable !
------------------------------------------------------------------
It does'nt matter what you think is happening in the charts -
- because there is always a difference of opinion !
That's why there is no Right or Wrong wave-count !
-------------------------------------------------------------------
There is no such thing as an Elliott Wave expert....
Wave counts are going to vary based on who's counting and the time frame being used.
What is important is understanding of Risk to Reward and what's called Position Sizing!
and then you can apply the Trading Method of your choice .This is what keeps you l
Plan your Trade - Trade your Plan .....http://www.forexfactory.com/images/smilies/yim/happy.gif
Last edited by marketwavez, Aug 3, 2007 3:49am
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#177
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 3:24am
http://www.forexfactory.com/nfs/avatar3774_3.gifbohebolo
Pattern Trader
Member Since Oct 2005
32 Posts
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Quote:
Originally Posted by africanpip http://www.forexfactory.com/images/buttons/viewpost.gif
Just a thought....if you were wondering what to label that little wave after 4 you would not be wrong to label it as the 5th wave, wave 5 doesn't have to go past wave 4. It is refered to as a truncated 5th. Only occurs on the 5th wave.
So that would be the end of your larger wave A. You may find we are up part of the way on the B wave now.
Regards.
that's right africanpip. actually it's my alternative count, a failure 5th wave.
but until gbpusd break up 2.0420 (my red horizotal line), i won't change my count yet. at least for this moment http://www.forexfactory.com/images/smilies/yim/big_grin.gif
hey, can u post some chart? it will help a lot, thanks...
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#178
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 3:25am
http://www.forexfactory.com/nfs/avatar3774_3.gifbohebolo
Pattern Trader
Member Since Oct 2005
32 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
All of Technical Analysis is Subjective !
including Elliott Waves , Wolfwaves , Gann , Gartleys , Butterflies
Take yor pick ......All is Subjective !....... Nothing is 100% Reliable !
------------------------------------------------------------------
It does'nt matter what you think is happening in the charts -
- because there is always a differnce of oppinion !
That's why there is no Right or Wrong wave-count !
!
100% agreed... http://www.forexfactory.com/images/smilies/peace.gif
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#179
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 3:31am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Heres a thread devoted to learning Elliott Waves Basics
--------------------------------------------------------
http://www.forexfactory.com/showthread.php?t=10323
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 3:51am
Serega
Member
Member Since Jun 2007
162 Posts
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Hi!! Today is a good day to make moneyhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=41896&stc=1&thumb=1&d=1189894097
http://www.forexfactory.com/images/buttons/quote.gif #182
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 3:56am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Here's a look at the Us Dollar
-going into tomorrows NFP Report
---------------------------------------------
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=41897&stc=1&thumb=1&d=1189894097
Last edited by marketwavez, Aug 3, 2007 4:12am
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#183
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 4:00am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Quote:
Originally Posted by Serega http://www.forexfactory.com/images/buttons/viewpost.gif
Hi!! Today is a good day to make moneyhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Isn't Everyday just as good to make some money ?
----------------------------------------------------------
NFP Report = Increased volatility trading ?
////////////////////////////////////////////////////////////////////
Quick question
----------------------------------------------------------
Your chart has bullish posture , just above
.............. is this correct ?
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#184
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 4:14am
Serega
Member
Member Since Jun 2007
162 Posts
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Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
Isn't Everyday just as good to make some money ?
----------------------------------------------------------
NFP Report = Increased volatility trading ?
////////////////////////////////////////////////////////////////////
Quick question
----------------------------------------------------------
Your chart has bullish posture , just above
.............. is this correct ?
the chart GBPUSD shows that we are in the wave C which can be subdivided into 5 waves. I am going to sell on american data (nonfarm) when the fifhe wave will be formed. By the way,I meant that today we can see high volatility
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#185
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 11:37am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Well guys ,
The Usd Dollar just fell apart ...
-----------------------------------------
Major support line has been broken ............
Usd/Chf - Update
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=41953&stc=1&thumb=1&d=1189894147
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#186
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 11:57am
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
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Quote:
Originally Posted by bohebolo http://www.forexfactory.com/images/buttons/viewpost.gif
that's right africanpip. actually it's my alternative count, a failure 5th wave.
but until gbpusd break up 2.0420 (my red horizotal line), i won't change my count yet. at least for this moment http://www.forexfactory.com/images/smilies/yim/big_grin.gif
hey, can u post some chart? it will help a lot, thanks...
Sure here you go.....sorry a bit late.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=41957&stc=1&thumb=1&d=1189894147
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#187
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 12:41pm
SeekingLight
Charts + PA > *
Member Since Jul 2006
http://www.forexfactory.com/images/misc/10+kt.gif3,195 Posts
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Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
Well guys ,
The Usd Dollar just fell apart ...
-----------------------------------------
Major support line has been broken ............
Usd/Chf - Update
I got lucky on my count http://www.forexfactory.com/images/smilies/yim/big_grin.gif
http://forexfactory.com/showpost.php...&postcount=732
Been shorting it a bit lately =)
Confirmation for this last push was loss of 1.2020 for me with 1.1930 first s/r as .618 of wave three for 5 I think? Not sure. Around 233 pips off the top of this wave 5 down, also a nice fib nr http://www.forexfactory.com/images/smilies/yim/big_grin.gif
P.S. USDX is still above key 80.00, trading at 80.28 right now which is higher than the last low on the 24th July which was 80.02. USDCHF is not equal to the USD per se http://www.forexfactory.com/images/smilies/yim/happy.gif
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#188
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 3, 2007 11:57pm
http://www.forexfactory.com/nfs/avatar3774_3.gifbohebolo
Pattern Trader
Member Since Oct 2005
32 Posts
http://www.forexfactory.com/images/icons/icon8.gif invalid count
Quote:
Originally Posted by bohebolo http://www.forexfactory.com/images/buttons/viewpost.gif
but until gbpusd break up 2.0420 (my red horizotal line), i won't change my count yet. at least for this moment http://www.forexfactory.com/images/smilies/yim/big_grin.gif
well, it broke the horizontal line significantly. all count will be revised.
hey africanpip, i think we are in the same boat now :wave:
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#189
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 4, 2007 12:06am
http://www.forexfactory.com/nfs/avatar3774_3.gifbohebolo
Pattern Trader
Member Since Oct 2005
32 Posts
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Quote:
Originally Posted by SeekingLight http://www.forexfactory.com/images/buttons/viewpost.gif
I got lucky on my count http://www.forexfactory.com/images/smilies/yim/big_grin.gif
http://forexfactory.com/showpost.php...&postcount=732
congrats for the trade SL. nice pips... http://www.forexfactory.com/images/smilies/yim/tongue.gif:
marketwavez, can u post cable chart pls? just curious with ur counts on this one. so far now i agree with africanpip chart.
where is EG? http://www.forexfactory.com/images/smilies/yim/confused.gif
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#190
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 4, 2007 8:21am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Increased activity
I am happy to note that there has been an increased level of activity in this thread even though I was not around most of the time.
I was busy with my other business that needed a bundle of things to take care of. Anyway, my last post at post 165 remains basically my position till we finish what I see as a Wave 5 UP. You can go back to post 149 and 152 for my charts.
I will maintain that we finished Wave 4 down at 2.0181 and that we are currently in the Wave 5 Up now. This view will only change if we go lower than 2.0181 from were we are right now.
There are a number of reasons why I think we are in a wave 5 up now from 2.0181.
1. from wave 3 @ 2.0652 A retracement for Wave 4 is allowed till the tip of Wave 1 @ 2.0206. It was surpassed though . But think it was with in the tolerance range.
2. 2.0181 was within the vicinity range of a 161.8% of Wave A:4 projection for Wave C:4.
I do not see price going lower than 2.0181 now until we finish Wave 5 or M3.3.5.3.3.5. This puts us at the end of the next higher wave degree Wave 3 or M3.3.5.3.3 We would then expect a Wave 4 to come down to below 2.0000 up to 1.9600 as retracement from Wave 3.
My current objectives for Wave 5 in this Impulse Wave up we are in right now would be :
2.0543
2.0768
2.1000
2.1200
Please note that my projection levels are just my own projections. They may seem too high for many of you out there. I believe that I can take these positions as a swing trader. Remember that there will be so many ups and downs before we reach the levels I think that this GBPUSD Pair will reach.
I started a new demo account for this since we hit the 2.0181
my account has increased by 23.4%. I was not able to maximize earnings on this initial phase of Wave 5 because I was not often on my computer. There were days I would be at a negative 78pips. BUt I held on thinking that it will come back up again as thisis a Wave 5. As of Early Saturday morning, I already exited all my trades thinking I could enter at a lower level and ride this Wave 5 up again. I exited to early and missed around 45 additional pips. But that is ok. price is a little lower than were I exited last Saturday here in Asia. I can eneter a long again for probably a TP of almost 20-30 pips before it comes down again for a Wave 4 within the Wave 3 of this Big Wave 5 up.
Or I can let it go up for awhile and wait till it retraces for that small wave 4 then I can hop in again for the continued ride UP.
hhhmmmmm I hope I did not lose anybody out there on that circle of waves within waves.
EG
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#191
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 4, 2007 8:40am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Chart Differences
Looks like my counts differ from that of Serega, Bohebolo and Africanpips. I am not saying I am right and you are wrong. Just aknowledging the differences in our counts.
It seems that mine is same as that of SeekingLight.
Marketwaves' Weekly chart seem to be heading the same way UP. Note that his DAily Chart shows Price overshooting that Diagonal triangle UP.
EG
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#192
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 4, 2007 1:44pm
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif Vertical Analysis
Hey EG, I hope you don't mind me taking up this space but as you say if we can all learn together, in a positive learning environment, then all the better for us.
Well I have done this Vertical Analysis of some of the more significant charts for Cable. The Analysis starts on the Monthly then down to the 4h chart.
The monthly is a little congested at the top but I think you can get my wave count. I believe I have started at a significant bottom.
On the monthly I believe we are in/on wave 5 or at its top, but not too worried about it as the smaller time frames are of more significance. I have gone to the Monthly as part of the big picture or framework to guide the smaller time frames more accurately.
I will post my weekly, daily and 4h charts in separate posts (easier to scroll than open up files all the time)
So this is my Monthly chart (numbers in red).....see if you agree. the rest follow.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42035&stc=1&thumb=1&d=1189894261
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#193
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 4, 2007 1:47pm
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif Vertical analysis - weekly
numbers in blue
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42036&stc=1&thumb=1&d=1189894261
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Eish!
If you don't fly with the eagles you'll scratch with the turkeys
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#194
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 4, 2007 1:49pm
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif Vertical Analysis - Daily
starts getting interesting
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42037&stc=1&thumb=1&d=1189894261
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Eish!
If you don't fly with the eagles you'll scratch with the turkeys
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#195
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 4, 2007 1:51pm
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif Vertical Analysis - 4h
Really interesting and open to various interpretations.
(Analysis starts on monthly above)
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42038&stc=1&thumb=1&d=1189894261
__________________
Eish!
If you don't fly with the eagles you'll scratch with the turkeys
Last edited by africanpip, Aug 4, 2007 1:56pm Reason: addition
Aug 5, 2007 6:25pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif for africanpips
monthly chart on gbpusd
Yes. I considered that as a significant low too to start with. However, our difference is that (referring to your RED numbers ) your red Wave 1 is only a subwave 1 for me. My wave 1 for that stretch is @ your Red Wave 3.
Your Red wave 2 is only my subwave 2 of my Wave 1 of 1 higher degree. Your RED wave 4 is my Wave 2.
Weekly chart:
I was referring to how your first Blue Wave 1 near the EMA line.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42139&stc=1&thumb=1&d=1189894390
http://www.forexfactory.com/images/buttons/quote.gif #201
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 5, 2007 6:26pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif weekly_africanpips
my weekly
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42140&stc=1&thumb=1&d=1189894390
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#202
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 5, 2007 9:05pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif 1 hour Chart_GBPUSD
On the 1 hour chart.....
Although price went down a little at market opening Monday in Asia, then is currently up at 2.0440 now.... I think this will still go down to 2.0350 upto 2.0330 from here for this wave 4.
Just my thoughts on Cable now.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42161&stc=1&thumb=1&d=1189894390
Last edited by el grande, Aug 5, 2007 9:41pm Reason: attaching the chart
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 6, 2007 7:35pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Maintaining a Bullish Stance
IT seems everyone except me is on the SHORT Trade Ride.
Currently stuck on my Long Trade. I had 3 Long Trades at different Points. Closed 1 at -46 before I went to sleep to reduce exposure as I still thought there were signs of reversal.
Still holding 2 Long trades @ - 120 and -100. I decided against hedging them early this morning.
After reviewing my charts again this morning when I got back to my computer, I think that there is a possibility that this would still revert to the Long trade now based on my 4 hour chart. I have revised my counts on the 15minute and 1 hour charts.
I would totally agree that my count up to the 4hour chart is wrong if the 2.0181 level is broken as this is end of my wave 4.
At this point, I will have to close all my long position and take this loss on 2 trades more. I will then have to catch that Short Trade Ride for its last leg.
Chart I am attaching shows potential levels if my wave count works out.
Hey africanpip, clusterwise and seekinglight. Thank you for presenting your counts. I do not mind if I am on the otherside of your trades. Because you may all be right and I am wrong. Others like me will learn from your counts as they visit this thread.
Clusterwise... I look forward to your lead...
Have a profitable trade evryone.
EG
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42291&stc=1&thumb=1&d=1189894565
http://www.forexfactory.com/images/buttons/quote.gif #212
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 12:45am
SunTrader
Trade the reaction not the news!
Member Since Mar 2006
http://www.forexfactory.com/images/misc/10+kt.gif4,398 Posts
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For the abc's of forex challenged - US$ is US$ index.
US$ is not every pair that has a US$ in it.
+ + +
Now, no self respecting EW watcher but more importantly trader, tries to pin a number or letter on every swing. X's and Y's and Z's are gimmicks. OK maybe the occasional X, but not to stretch and continue a count that just isn't there.
The markets don't move in EW form 100% of the time.
These comments are general and not pointed at any one particular chart. Just my thoughts - so don't take offense.
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#213
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 3:11am
SeekingLight
Charts + PA > *
Member Since Jul 2006
http://www.forexfactory.com/images/misc/10+kt.gif3,195 Posts
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Anyone have any idea about the DJI? http://www.forexfactory.com/images/smilies/yim/happy.gif
Considering the rejection and power at the "e" I think we just might go go go if this is indeed an expanding triangle.
Would also put the carry trade back alive and so forth. I've also tried being bearish on this one, but support kept holding ;p
Loss of 13100 and I'm bringing the bear fangs back out http://www.forexfactory.com/images/smilies/yim/winking.gif
Attached Imageshttp://www.forexfactory.com/attachment.php?attachmentid=42345&stc=1&d=1186470683
__________________
Trust price. Know yourself.
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#214
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 5:51am
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif Usd/Cad
the 3 wave is expected....:wave:
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42359&stc=1&thumb=1&d=1189894645
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#215
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 9:07am
SunTrader
Trade the reaction not the news!
Member Since Mar 2006
http://www.forexfactory.com/images/misc/10+kt.gif4,398 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by SeekingLight http://www.forexfactory.com/images/buttons/viewpost.gif
Anyone have any idea about the DJI? http://www.forexfactory.com/images/smilies/yim/happy.gif
Considering the rejection and power at the "e" I think we just might go go go if this is indeed an expanding triangle.
Would also put the carry trade back alive and so forth. I've also tried being bearish on this one, but support kept holding ;p
Loss of 13100 and I'm bringing the bear fangs back out http://www.forexfactory.com/images/smilies/yim/winking.gif
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#216
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 10:03am
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
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#217
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 10:12am
s3padrian
Member
Member Since Apr 2007
373 Posts
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Quote:
Originally Posted by africanpip http://www.forexfactory.com/images/buttons/viewpost.gif
Hey EG,
That's the good question
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#218
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 3:50pm
http://www.forexfactory.com/nfs/avatar20215_1.gifClusterwise
Elliot Waves
Member Since Sep 2006
114 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by el grande http://www.forexfactory.com/images/buttons/viewpost.gif
Attached Fileshttp://www.forexfactory.com/images/attach/mq4.gifFX5_NeelyElliotWave_v1.2.mq4 (18.7 KB, 441 views)
__________________
Is this a new trend or an old trend ? If the trend is up , how far will it go ? Most technical studies simply don't reveal pertinent information such as the maturity of a trend and a definable price target - but the Wave Principle does
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#219
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 4:00pm
http://www.forexfactory.com/nfs/avatar43009_17.gifBig Wave Rider
C.E.O of BWR Investment INC
Member Since Jul 2007
http://www.forexfactory.com/images/misc/10+kt.gif3,999 Posts
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I actually just ordered the Neely mastering elliot wave book, it should be here in a few days, How do I attach the indicator to metatrader?
Thanks
__________________
Consistently Profitable
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#220
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 4:05pm
http://www.forexfactory.com/nfs/avatar20215_1.gifClusterwise
Elliot Waves
Member Since Sep 2006
114 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by Big Wave Rider http://www.forexfactory.com/images/buttons/viewpost.gif
I actually just ordered the Neely mastering elliot wave book, it should be here in a few days, How do I attach the indicator to metatrader?
Thanks
close Metatrader program
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#221
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 4:54pm
http://www.forexfactory.com/nfs/avatar43009_17.gifBig Wave Rider
C.E.O of BWR Investment INC
Member Since Jul 2007
http://www.forexfactory.com/images/misc/10+kt.gif3,999 Posts
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Many thanks for the indicator, however I dont get all wave periods on all time frames, They are not on my weekly and monthly charts. and I dont get the blue voilet wave on any. is this normal?
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Consistently Profitable
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#222
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 5:20pm
http://www.forexfactory.com/nfs/avatar20215_1.gifClusterwise
Elliot Waves
Member Since Sep 2006
114 Posts
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Quote:
Originally Posted by Big Wave Rider http://www.forexfactory.com/images/buttons/viewpost.gif
Many thanks for the indicator, however I dont get all wave periods on all time frames, They are not on my weekly and monthly charts. and I dont get the blue voilet wave on any. is this normal?
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#223
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 7, 2007 11:00pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
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#224
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 8, 2007 3:52am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Bug in My Broker's System
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#225
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 8, 2007 4:02am
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif Closed all shorts
Hi EG,
I have closed all short trades .0185. That was the target I set myself from .0421 so I am satisfied with the outcome. It maybe premature to call the end C now but I have labelled it non-the-less. I am quite happy to sit out until the outcome of the inflation report from the UK.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42557&stc=1&thumb=1&d=1189894885
__________________
Eish!
If you don't fly with the eagles you'll scratch with the turkeys
Aug 9, 2007 12:44pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Cable
Hey Clusterwise....
The wave ride has been 1 smooth ride even though this is a corrective wave .
Thank you for leading the way.
From your chart, Wave count for the cable is currently on a Big Wave B structure 3-3-3. And specifically, this is now the sub-wave c up going to the area of 2.0652 Wave 5 High.
Am I correct to assume that this corrective wave 4 will be surfing the range of Wave 5.3 high ( 2.0652 ) and Wave 5.1 ( 2.0132 )High?
Wave 5.4 end is not supposed to go lower than Wave 5.1 end. So I think we are stuck in this range until it finishes by 1st week of September ( 09-02-07 ).
This assumption is based on the fact that Wave 5.4 is complex and that supports another assumption that Wave5.4 is equal to Wave 5.3 time-wise.
I know Clusterwise has commented that 5th wave is truncated.
Maybe.... and that is just maybe..... that was just a Wave 2.
Look at how it has retraced by 78.6% of what I think is wave 1 in this sub wave c.
Just another of my assumptions ....
EG
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42851&stc=1&thumb=1&d=1189895269
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http://www.forexfactory.com/images/statusicon/post_old.gif Aug 9, 2007 12:48pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif C Wave
Down or UP
Could it be that Cable is in a FLAT Corrective Wave?
EG
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42854&stc=1&thumb=1&d=1189895269
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#236
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 9, 2007 12:49pm
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by Presto http://www.forexfactory.com/images/buttons/viewpost.gif
Hello, everyone. This is my first post, but I have been reading a few threads for past couple weeks.
Clusterwise, thankyou for your posts. I know I could learn a lot from you. I am interested in learning Elliott wave, and will continue to watch your posts and learn. http://www.forexfactory.com/images/smilies/yim/happy.gif
May I ask you a couple of questions?
Where would you suggest a good start for learning Elliott wave properly begin? The Neely book?
Do you still see the USD/JPY heading way down?
Thanks!
Best,
Presto
Try this for starters.....
Attached Fileshttp://www.forexfactory.com/images/attach/doc.gifelliot wave.doc (97.0 KB, 163 views)
__________________
Eish!
If you don't fly with the eagles you'll scratch with the turkeys
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#237
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 9, 2007 1:42pm
Presto
Member
Member Since Dec 2006
3 Posts
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Thanks, Africanpip.
Looks like a good, short summery I can study.
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#238
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 9, 2007 2:00pm
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif interesting formation
Well an interesting day and an interesting chart forming.
Fortunately my counts have been good to me the last week or so and I have been getting some...(pips, that is). I am not so sure about whats forming or what it will turn into I am just carrying on with my count until I see it differently and as long as my RR ratio is good I shouldn't get into too much trouble if it goes wrong. but no trades open at the moment, just listening to the reed buck whistling in the bushes.
But here is my 4hr count which has luckily worked lately. It may all change as the future reveals itself.....but as our good friend EG illudes us to, its all about probability!
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42863&stc=1&thumb=1&d=1189895346
__________________
Eish!
If you don't fly with the eagles you'll scratch with the turkeys
Last edited by africanpip, Aug 9, 2007 2:02pm Reason: spelling
My images(http://imgcash5.imageshack.us/common/images/remove.gif http://imgcash5.imageshack.us/common/images/remove.gif )Images: 1..11/11
http://imgcash.imageshack.us/common/images/firstd.gifhttp://imgcash.imageshack.us/common/images/prevd.gif 1http://imgcash.imageshack.us/common/images/nextd.gif http://imgcash.imageshack.us/common/images/lastd.gifGo to page # of 1
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http://www.forexfactory.com/images/statusicon/post_old.gif Aug 9, 2007 5:03pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Overview
Attached is how Cable is seen using Multiple Tools and how I see it using EW Theory.
ALL Messed Up or You can call me a Lunatic. But isn't it just amazing to see how multiple tools somehow blend to show "POTENTIAL" map of how Cable would look like in the coming days? and that includes EW.
EG
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42894&stc=1&thumb=1&d=1189895346
http://www.forexfactory.com/images/buttons/quote.gif #242
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 9, 2007 5:07pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Skeleton
Here is the Chart without the Gartley. It some how hid the view of most of the counts.
The Vertical Lines are Cycle Lines which is a tool in the MT4 Platform too. Trying to incorporate Cycle and Pattern into the Analysis.
What is probably missing now is the Gann Component. Fibonacci is actually part of the overall "Mess". http://www.forexfactory.com/images/smilies/yim/happy.gif) for Price and Time.
Let us see who gets crazy first.
hmmm... Now I noticed that I missed Trendlines, Support and Resistance Lines and even the Andrew's Pitchfork. Then probably by then..... one will never have enough time to check on it all.
EG
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=42895&stc=1&thumb=1&d=1189895346
Last edited by el grande, Aug 9, 2007 5:35pm
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#243
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 9, 2007 5:53pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif Another early morning rambling
It is agreed that we have reached the end of Big Wave 5.3 and now in a Wave 5.4 Corrective Wave.
Basic Guideline for Wave 4 is that it must never overlap with Wave 5.1...... Based on this Rule, I have drawn 2 Horizontal lines on my chart to indicate the range of Wave 5.4 price. Wave 5.1 top @ 2.0132 and Wave 5.3 Top @ 2.0652.
By the Rule of alternation, I think that Wave 5.2 was a Sharp pattern so I assume that Wave 5.4 should display a sideways movement.
And what better pattern to show this sideways corrective wave than the flat corrective wave. This is the reason why I am assuming that price would go up some more before it goes down again up to the 5.1 high of 2.0132.
Now using Chart Patterns, you will see that the Symmetrical Pattern That african pip showed in his chart can be blended into our analysis to support the assumption that Price will still go up for the continuation of sub wave c in the 5.4.B wave.
This is further supported as potentially possible using the principles of falling wedge patterns where a 123456 count would show that count 6 is due to break out of that downward trendline.
If you check Gartley, Harmonic and Pesavento Patterns, again you will see the "Potential " move.
Then try the Cycle lines and there again you will see possibilities.
If somebody could apply the Square of 9 based on Gann, Maybe we can have a better analysis with its Time and Price Factor.
These are all just possibilities. EW is very challenging on its own. But for those who wish to know how it is with other tools, then here is how you will see it on other more visual tools.
EG
PS. I forgot about the Fibonacci extention. You can use it to project 5.4.B end or its 5.4.B.c using the 100% and the 161.8% and knowing as other traders have observed, Cable usually exceeds the 100 and the 161.8 levels. So we may still see it get to 2.0652 before it goes south again for the final 5.4.C Leg of the 5.4 Correctve wave.
If the timing is correct, we or the market will have enough time to show us this surfing the waves.
Last edited by el grande, Aug 9, 2007 6:05pm
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#244
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 10, 2007 5:40am
money
Multiple Usernames
Member Since Jul 2007
http://www.forexfactory.com/images/misc/1kt.gif106 Posts
http://www.forexfactory.com/images/icons/icon1.gif gbp_usd/4h with 30min chart
hello, this is my strategy on cabl. i thnik that should go down. but we will se what they will say on todays newshttp://www.forexfactory.com/images/smilies/yim/happy.gif
http://img476.imageshack.us/img476/2118/gpbusd108yw6.th.gif
Last edited by money, Aug 10, 2007 7:41am
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#245
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 10, 2007 9:37am
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif change of count
EG,
Looks like I am having to change my count here, so I am in agreement, at the moment, based on probability that we haven't seen the end of C yet.
Hey Money couldn't really make out your chart there bud. My eyes must be failing me......http://www.forexfactory.com/images/smilies/moneyeyes.gif but I agree with your call.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=43014&stc=1&thumb=1&d=1189895488
__________________
Eish!
If you don't fly with the eagles you'll scratch with the turkeys
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#246
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 10, 2007 1:40pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Well ,..........EG
What do Think ?................
- Mabe we we can clear 0580 and keep going ? ..............http://www.forexfactory.com/images/smilies/yim/winking.gif
--------------------------------------------------------------
P.S. How's your studying going ? .............
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#247
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 10, 2007 1:59pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Here's the Usd/Jpy...............http://www.forexfactory.com/images/smilies/yim/cool.gif
-----------------------------------------
( See Chart Below )
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=43074&stc=1&thumb=1&d=1189895551
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#248
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 10, 2007 3:15pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Euro/Usd
Moving towards an end End of a Wave 4 " ?....
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Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=43087&stc=1&thumb=1&d=1189895551
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#249
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 12, 2007 3:44pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,791 Posts
http://www.forexfactory.com/images/icons/icon1.gif My Struggle
Hi Marketwavez.
I am still struggling with my counts. Still have not decided on whether I should really go Long or Short on Cable as of now.
Current scenario seems to have a number of alternative counts possible. BUt I will try to dissect my count and use other tools to see how I can narrow my choices....
As for my studying.... starting to digest more of what I read...
For now below are the premises I am basing mycounts on:
1. Price Range for 5.4 is between 5.1 @ 2.0132 and 5.3 @ 2.0652. Projections down to 2.000 and 1.9900 seem out of my range because 5.4 or wave 4 must never overlap with wave 1 or my 5.1 which has a highof 2.0132. See chart #2 Daily
2. Time Element - My Time computations puts my end of 5.4 projections around October 17-24. This is based on the following premises whereby Wave 4 is related to W3/ W0-W3 where W4 itakes longer to finish or parallel projections of W1-W3 based on the following Fib Levels Range of 138.2 - 161.8...... See Chart #2 Daily .
In the meantime Cable is expected to stay within this range and continue with its corrective phase until it starts its Wave 5.5 up by Mid October.
3. Rule of ALTERNATION - Based on this rule, if Wave 2 makes a zigzag or a sharp movement, then Wave 4 will be a complex corrective wave and exhibit a sideways movement. In this case, 5.2 was a Zigzag/sharp so this will contribute or strengthen my assumption that 5.4 will continue to extend its corrective state.
4. Candlestick formation - I would describe that last daily candlestick of Aug 10 Friday as having a long shadow ( long lower wick and lonegr than range of candlestick) and most likely be interpreted as a Bullish signal on the daily chart. This is a strong signal if it occurs on the higher timeframe like the daily.
5. Trendlines - It could also be observed that Price bounced of that lower trendline formed by 7-30-07 @ 2.0181, 8-08-07 @ 2.0156 on 8-10-07 @ 2.0152. It could also be noted that candlesticks have been forming higher lows from that bounce.
Looking forward to a trendline breakout for Cable based on Downward Trendline formed by 7-24-07 @ 2.0641 , 8-06-07 @ 2-0461 and 8-09-07 @ 2.0393.
6. H4 Chart - Digesting my observations above and observing the 4H chart now, I would assume that Cable is on a sub wave c of a Wave B up ( 5.4.B ). I have more reason to assume that this is 5.4.B Up instead of 5.4.C Down because of the Time element. It would look too pre mature to assume that Cable is now on its way down to finish 5.4.C.
Besides, it is too near what I believe is the bottom of 5.4 which should not overlap with 5.1 @ 2.0132.
7. Falling Wedge in an UPTREND - The symmetrical triangle we were looking at last Friday failed with price breaking down the upward trendline forming the bottom of that symmetrical tringle on the 4H chart. That leaves us with the FALLING WEDGE in an UPTREND.
This has a count of 6 within the wedge and as it breaksout of the trendline at the upper edge of this falling wedge, we count that as on the way to Count 7 which is the price projection max for this scenario.
8. Blending this with EW, Assuming that the price breakout occurs, we can then check price level projections thru EW. the wedge was a tool to help find price direction or validate the 5.4.B count.
Wave C is projected based on its known % relationship with Wave A (See the Fib Extention levels in Aqua )
61.8
100
161.8
Coral Dotted line is Count 7 projection for the Uptrend Falling Wedge
5.4.B could still go as high as FE 200 @ 2.0708. if this turns out to be an expanded flat. But I could be wrong in this assumption as zigzags, flats and irregular/expanded flats may not be considered as complex or sideways corrective waves. Choices would be horizontal triangles, double three and triple threes which would mean price will not reach or last high of 2.0652 yet until it is on its way to Wave 5.5 ( that is if it doesnot turn out to be truncated.
Ok...... This is about everything I have put into my Wave count considering other tools.
May we all profit this week.
EG..
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#250
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 12, 2007 3:47pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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http://www.forexfactory.com/images/icons/icon1.gif Daily Chart
Chart 2
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#251
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 12, 2007 3:49pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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http://www.forexfactory.com/images/icons/icon1.gif 4H Chart
4H Chart
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#252
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 13, 2007 6:30am
money
Multiple Usernames
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Quote:
Originally Posted by money http://www.forexfactory.com/images/buttons/viewpost.gif
hello, this is my strategy on cabl. i thnik that should go down. but we will se what they will say on todays newshttp://www.forexfactory.com/images/smilies/yim/happy.gif
http://img476.imageshack.us/img476/2118/gpbusd108yw6.th.gif
hELLO, this are my prediction from last post to next stephttp://www.forexfactory.com/images/smilies/yim/happy.gif ( sorry for small charts)
4h chart
http://img341.imageshack.us/img341/872/gbp4hzg7.th.gif
15min chart
http://img265.imageshack.us/img265/8766/gpb15minrw3.th.gif
Last edited by money, Aug 13, 2007 6:45am
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#253
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 13, 2007 7:47am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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http://www.forexfactory.com/images/icons/icon1.gif Money's Chart
4H
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#254
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 13, 2007 7:50am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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http://www.forexfactory.com/images/icons/icon1.gif Money's 15m Chart
15m Chart
Hey money.
I hope you don't mind me re-posting your charts. It just makes it easier for everyone to see your charts.
Thank you for sharing your chart. Have not looked into it yet but will do after I re post this.
Thank you again.
EG
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#255
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 13, 2007 11:22am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
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Usd/Cad
---------------------------------
Here is the result of this set-up from Friday.....
Looks like this one didn't pan out ........http://www.forexfactory.com/images/smilies/yim/rolling_eyes.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=43326&stc=1&thumb=1&d=1189895851
Aug 15, 2007 1:43pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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Here is the result for Friday's Usd/Yen .............
See Original Post # 247
Click Here
http://forexfactory.com/showthread.php?t=20436&page=17
-------------------------------------------------------------------
This one didn't work out ............http://www.forexfactory.com/images/smilies/yim/winking.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=43740&stc=1&thumb=1&d=1189896340
http://www.forexfactory.com/images/buttons/quote.gif #264
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 15, 2007 1:44pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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Pg-2
Results............(Trade Stopped Out ! )
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#265
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 15, 2007 2:06pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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EG
please read this file about the origins of Elliott Waves
--------------------------------------------------------------
Pay close attention to Page 4 of this document where you see " E waves "
- As i was telling you before
Please stop labeling your charts with WXY sequence !
If you read the tutorioal below about Elliott Waves you will see there is no mention of WXY .
..... So why do you use them ?
Also you will see what I was talking about with E waves
You have so many charts in here and none of them have an E wave on them ......
2 weeks ago you asked what is an E wave
Well Africanpip posted this file last week .... It's very helpful !
----------------------------------------
Go and read page 4 of this document ,
E Waves are explained briefly ..............http://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Fileshttp://www.forexfactory.com/images/attach/doc.gifelliot wave.doc (84.0 KB, 168 views)
Last edited by marketwavez, Aug 15, 2007 2:34pm
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#266
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 15, 2007 4:03pm
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif WXYZ
These occur in combinations, double and triple three's, Elliott labelled them differently, or a flat followed by a zig zag but mostly a combination which is horizontal in structure or character. These occur in corrective waves. W and Y in double zig zag and/or double three's. Z in triple zig zags or triple three's. X the label for the actionary waves between.
Frost & Prechter (1999). Elliott wave principle: Key to market behavior. John Wiley & Sons. pp 52-55.
__________________
Eish!
If you don't fly with the eagles you'll scratch with the turkeys
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#267
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 15, 2007 4:06pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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Thank you marketwavez.
Reviewing it now.
EG
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#268
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 16, 2007 2:33pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
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................................... ................
Eur/Usd - ( Long-Term )
What's all the Fuss about ?
---------------------------------------------
The Euro and the Dow Jones
are busy reminding us of the Signs of the Times ......
---------------------------------------------------
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=44012&stc=1&thumb=1&d=1189896692
Aug 20, 2007 2:46pm
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Elliot Waves
Member Since Sep 2006
114 Posts
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Hi elgrande
sorry if i post the chart on this way, because i would like everyone to see the details over there
The blue lines are fibo time zones, just give a look where will the retracement of this big cycle will end !!! as we finsih 5 cycles in terms of time according to fibo in terms of timing, then the line number 13 lies on 14-02-2010 , isn't going to be a very long down trend, specially USD index support that view :surprised
Many thanks
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__________________
Is this a new trend or an old trend ? If the trend is up , how far will it go ? Most technical studies simply don't reveal pertinent information such as the maturity of a trend and a definable price target - but the Wave Principle does
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http://www.forexfactory.com/images/statusicon/post_old.gif Aug 21, 2007 12:33am
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif Cable
Hey EG,
On the 4 hr chart we are seeing classic 4th wave behaviour, with it trending sideways, building the base for the 5th wave down. I don't know at which point wave 4 will end but will speculate on around 9950/2. before dropping for 5.
At that point we will be at the end of wave C of larger wave A.
Looking at the pattern for the longer term, I think that because this larger A was a zig zag A-B-C the rest of the structure will be a Flat.
Regards.
__________________
Eish!
If you don't fly with the eagles you'll scratch with the turkeys
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#290
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 21, 2007 4:00am
http://www.forexfactory.com/nfs/avatar19886_1.gifafricanpip
just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif wave 4 done?
Hey EG,
You think wave 4 has bid us farewell and we are welcoming 5 down now? If it is then 4 never even hit 38.2% of 3. which I thought it would do at least. Or is this still part of 4's sideways movement.
I am long from 9840 so there is some drawdown here for me, If it is 5 then I might have to hedge till the end of 5, where ever that is? Possibly around 1.9500 area.
What you think?
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__________________
Eish!
If you don't fly with the eagles you'll scratch with the turkeys
Aug 22, 2007 3:19am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
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Gbp/Usd
Price Action ..........http://www.forexfactory.com/images/smilies/yim/happy.gif
-------------------------------------------------
Can Price break below 9645 this week ?
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=44831&stc=1&thumb=1&d=1189897747
http://www.forexfactory.com/images/buttons/quote.gif #302
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 22, 2007 5:06am
rnl16616
Member
Member Since Aug 2007
23 Posts
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Suntrader
I don't think following EW has to be broken down to the lowest and highest levels of wave counts unless one is trading all the different timeframes. Just one level above and below the timeframe one is trading. In other words if someone is trading the 60min chart watch the 240min and the 15min. Wave counts all the way out to monthly are not needed unless they are trading weekly charts.
I tend to agree about many timeframes as I mainly use the daily chart but I also dip into the hourly chart. My long term analysis was based on a daily chart, which is the timeframe I mainly use for analysis/trading.
Africanpip
Agreed, however it is good to know what the bigger picture is. It doesn't change all that quickly but to reference the large time frames from time to time, to keep in mind the larger trends is a good practice.
This is the key point as far as I am concerned as it gives current price action context. That context is useful in forming a view as to the larger price directions and as a consequence the probable limits of current moves. I think we are all tending to produce similar analysis of wave counts following the 20655 peak, however, dependent on your view of what wave finished at 20655 that will influence your expectations about future price patterns.
Of course I am simply expressing a preference here as it is entirely possible to trade from hourly charts with 4 hourly charts providing context and to be guided by price action on a short-term basis. I like to use longer timeframes on daily charts using less detail to provide the context for more immediate daily charts using more detail .
What I would be interested in hearing is what type of trading plan you guys use with your Elliott Wave analysis, although El Grande if you would like that question asked in a separate thread then I am happy to do that to keep this one on focus - counting.
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#303
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 22, 2007 6:16am
rnl16616
Member
Member Since Aug 2007
23 Posts
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Marketwavez
Gbp/Usd
Price Action ..........http://www.forexfactory.com/images/smilies/yim/happy.gif
-------------------------------------------------
Can Price break below 9645 this week ?
Let me ask two questions:
1) Why have you chosen an impulsive pattern rather than a corrective pattern ?
2) Assuming Wave 1-5 why have you counted Wave 3 as completed?
The reason I am asking the second question is that my current count is that Wave 3 is still in progress i.e. we are in 3.iv as opposed to 4. This is mainly based on the internal wave count. There is an argument that Wave "3" finished at 19652 based on 20655-20181-20463-19652 because Wave "1" x 161.8% = 767, which is fairly close to the actual drop of 811.
My current perspective regarding probable price action: I would expect wave "3" to complete soon and probably to finish somewhere around 19700 or above the 19652 low; the ideal target is 19696. I would then expect the larger "4" or c.4 to start, which should also see a complex correction at these levels but probably with a higher high than 19938 and an ideal target of between 19989-20080 assuming 19696 is the completion of the previous wave. I would need to revise the current count if 19652 is broken as it becomes likely that wave "5" or c.5 is in progress. Equally, I would need to revise the count if wave "4" goes above wave 1 at 20156.
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#304
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 22, 2007 11:05am
http://www.forexfactory.com/nfs/avatar43009_17.gifBig Wave Rider
C.E.O of BWR Investment INC
Member Since Jul 2007
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Anybody using the Neely system and his indicator?
I havent quit figured it out yet, I am still reading the book which is pretty damm complicated. I havent found the indicator in his book so I was hoping some one could explain it. I see that it makes waves and zig zags but how do I count these?
__________________
Consistently Profitable
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#305
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 22, 2007 11:39am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Quote:
Originally Posted by rnl16616 http://www.forexfactory.com/images/buttons/viewpost.gif
Marketwavez
Gbp/Usd
Price Action ..........http://www.forexfactory.com/images/smilies/yim/happy.gif
-------------------------------------------------
Can Price break below 9645 this week ?
Let me ask two questions:
1) Why have you chosen an impulsive pattern rather than a corrective pattern ?
2) Assuming Wave 1-5 why have you counted Wave 3 as completed?
Hi
In the chart above I'm only interested in entering on a break below 9645
This is the one and only concern ...
If price keeps going up or consolidates there will be no entry
--------------------------------------------------------------------
Don't expect everyone to have the same wave count as you .
It doesn't matter what you think what wave-count is happening
because the markets are dynamic and besides we all don't think
the same way , so therefore is always a difference of opinion
This is what Forums like this are for -
- It's a place to exchange ideas and thoughts
So don't get caught up in the argument of who has
the Right or or Wrong wave-count ..........
Remember ,
All of Technical Analysis is Subjective -All is subject to change !
---------------------------------------------------------------------------
If you dis-agree with any wavecount , That's ok
Just post your charts and state your case !
Time will then tell us all -......http://www.forexfactory.com/images/smilies/yim/winking.gif
Last edited by marketwavez, Aug 22, 2007 11:52am
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#306
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 22, 2007 11:45am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
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Quote:
Originally Posted by Big Wave Rider http://www.forexfactory.com/images/buttons/viewpost.gif
Anybody using the Neely system and his indicator?
I havent quit figured it out yet, I am still reading the book which is pretty damm complicated. I havent found the indicator in his book so I was hoping some one could explain it. I see that it makes waves and zig zags but how do I count these?
Neely - will only confuse you ..... http://www.forexfactory.com/images/smilies/yim/confused.gif
I've got some files that do a better job at explaining ..............
and I've got some links if you need them , just send me a PM
Last edited by marketwavez, Aug 22, 2007 11:57am
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#307
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 22, 2007 4:55pm
rnl16616
Member
Member Since Aug 2007
23 Posts
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marketwavez
Don't expect everyone to have the same wave count as you...
I don't, that is why I have asked questions.
...so therefore is always a difference of opinion...It's a place to exchange ideas and thoughts
That's my understanding too; that is why I have asked questions. Given the above, I did expect an answer based on an Elliott Wave count...
So don't get caught up in the argument of who has
the Right or or Wrong wave-count ..........
I haven't.
Time will then tell us all -......http://www.forexfactory.com/images/smilies/yim/winking.gif
I agree.
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#308
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 22, 2007 4:58pm
SunTrader
Trade the reaction not the news!
Member Since Mar 2006
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MW,
Think you are missing data because although there is a breakdown of support I don't have a gap area for that period.
Sun
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#309
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 22, 2007 5:07pm
rnl16616
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23 Posts
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marketwavez
Quote:
Originally Posted by Big Wave Rider http://www.forexfactory.com/images/buttons/viewpost.gif
Anybody using the Neely system and his indicator?
I havent quit figured it out yet, I am still reading the book which is pretty damm complicated. I havent found the indicator in his book so I was hoping some one could explain it. I see that it makes waves and zig zags but how do I count these?
Neely - will only confuse you ..... http://www.forexfactory.com/images/smilies/yim/confused.gif
I tend to agree with marketwavez. I looked at Neely, version 1, many years ago and I have only more recently gotten hold of version 2. I think it is overly complex as Elliott Wave analysis has its moments where it seems that everything goes according to the "plan" but also has times where it is simply indecipherable without the benefit of hindsight.
After saying that, I would be interested to hear of people that use Neely and find it better than "standard" Elliott Wave.
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#310
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 22, 2007 11:52pm
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Gbp/Usd
ok Here is an update
Price broke out of the channel to the upside .........
So no entry so far -
---------------------------------------------------------------
Still waiting for a break below 9645
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=44994&stc=1&thumb=1&d=1189897931
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#311
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 23, 2007 12:22am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
Senior Member
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http://www.forexfactory.com/images/misc/6kt.gif768 Posts
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Gbp/Usd
Here is another view of what I think is happening
It is only a Probability ! ................
--------------------------------------------
If you think different , That's O.K.
Let's see what you are thinking , Just post your charts -
Time will then tell all ! ......http://www.forexfactory.com/images/smilies/yim/happy.gif
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#312
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 23, 2007 1:01am
http://www.forexfactory.com/nfs/avatar25165_1.gifmarketwavez
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Gbp/Usd -( Long-Term )
////////////////////////////////////////////
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#313
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 23, 2007 1:48am
hunky
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Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
Neely - will only confuse you ..... http://www.forexfactory.com/images/smilies/yim/confused.gif
I've got some files that do a better job at explaining ..............
and I've got some links if you need them , just send me a PM
marketwavez hi , sorry to jump in ,
I have the same kind of problem , so if I can ask you to sher your files & links with me to .
thanks Erez.
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#314
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 23, 2007 1:49am
mradnan
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i think this is the time for 5 th wave
plz check this out EG
if i am right or wrong
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Aug 26, 2007 3:54pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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1 hour over view
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http://www.forexfactory.com/images/statusicon/post_old.gif Aug 26, 2007 3:58pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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next one
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#370
http://www.forexfactory.com/images/statusicon/post_old.gif Aug 26, 2007 4:01pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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Micro Wave Count on the Diagonal 5th wave
A throw over to the Upside is possible. But opefully it does not invalidate my count by going higher than 236.27
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Last edited by el grande, Aug 26, 2007 4:16pm
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#371
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el grande
Latagaw FOREX_ EWA
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diagonal wave count
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Aug 26, 2007 11:02pm
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Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
Gbp/Usd
ok Here is an update
Price broke out of the channel to the upside .........
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Price Action - Update......http://www.forexfactory.com/images/smilies/yim/happy.gif
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Aug 27, 2007 12:11am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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Hey Clusterwise..
I hope you do not mind me re-posting your chart here ..
This was how Clusterwise saw GBPJPY Movement when it was still starting the wave 4 up retracement.
EG
PS. Thank you Clusterwise for sharing your thoughts on GBPJPY
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Aug 27, 2007 7:36am
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Elliott Waves
- Is it more like an Art or like a Science ? ..................
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Aug 27, 2007 9:23am
brainless
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Member Since Jul 2007
45 Posts
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Anyone thinks that we are in doing the beginning of wave 5 of 5?
Target at 237.11 then 239.14.
If this is true, we are doing 5-3-5 in big wave 4? then eventually a dive down for big 5? ... this is my hope http://www.forexfactory.com/images/smilies/yim/winking.gif
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Aug 30, 2007 4:12am
rnl16616
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I have posted the chart I have of the two alternative counts as an attachment. Alternative counts are colour coded.
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Last edited by rnl16616, Aug 30, 2007 4:14am Reason: Update text
Sep 1, 2007 4:15pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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Could this be too good to be true for the BEARS?
Although all my Positions are short and I survived last Friday's volatility.....after compiling these, honestly...... it is giving me some chills
Elliott Wave
Support Trendlines
Cycle Lines
Fibonacci Retracements
Channelling Resistance
Double Tops
Inverted Head and Shoulders
Lower High
Anyone else sharing these chills????
EG
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http://www.forexfactory.com/images/statusicon/post_old.gif Sep 1, 2007 5:33pm
el grande
Latagaw FOREX_ EWA
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Here is an attempt to make a story out of the Candlesticks
Candlesticks should be added to the list above.
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Sep 1, 2007 6:24pm
el grande
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http://www.forexfactory.com/images/icons/icon1.gif Possibility of Allowing the Bulls to Ride with the BEARS
Here's possible good news for the Bulls.
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__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
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http://www.forexfactory.com/images/statusicon/post_old.gif Sep 1, 2007 7:15pm
el grande
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http://www.forexfactory.com/images/icons/icon1.gif CAUTION
Bears ... get ready to brace your Short Positions for this climb to 235.07
Bulls ...... take advantage of this profitable opportunity..... then get ready to ride with the Bears
EG
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EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
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#499
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 1, 2007 8:11pm
el grande
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If this scenario works out for the Bulls and then the Bears I outlined above.....
Then , its all hats off for Nelson Elliott
But even though it works well for the Bears only... it is still hats off to him.
It is still about Probabilities. Nothing really EXACT.
The only possible exactness about the Elliott Wave Theory is that there are Probabilities.
Knowing these probabilities and enhancing them with Technical analysis, Trendlines, Support and Resistance, Chart Patterns, Candlestick Formations..... all this makes for 1 integrated Analysis which could narrow down the Probabilities.
It may not be that easy to master all of these disciplines. But people coming together in Forex factory and sharing their respective expertise by contributing an analysis like for example on GBPJPY will help each of us have a peak on potential price direction of this pair based on various disciplines or methods of Analysis.
I thank all the generous people here at FF for contributing unselfishly time , effort and expertise n analysing this GBPJPY pair.
EG
__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
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#500
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 2, 2007 6:21pm
el grande
Latagaw FOREX_ EWA
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Bears bracing ourselves for this Bull ride.
EG
PS
There are risks jumping in and out. Take responsibility for your decisions. Must have a solid basis for engaging in a jump in and jump out scenario. JI/JO is strongly not recommended. JO is better specially for losing Positions. But NEVER a JI in A RUSH.
__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
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#501
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2007 2:03am
money
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http://www.forexfactory.com/images/icons/icon1.gif gbp_usd 30min
For todayhttp://www.forexfactory.com/images/smilies/yim/happy.gif
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#502
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2007 4:09am
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just another tough day in Africa
Member Since Sep 2006
206 Posts
http://www.forexfactory.com/images/icons/icon1.gif cable
Difficult time for trading lately..below is possibly where I see cable going, unless I have my count wrong but I seem to be following the rules. Interesting to see what the market decides to do from here.
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Eish!
If you don't fly with the eagles you'll scratch with the turkeys
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#503
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2007 6:17am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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Quote:
Originally Posted by el grande http://www.forexfactory.com/images/buttons/viewpost.gif
Bears bracing ourselves for this Bull ride.
EG
PS
There are risks jumping in and out. Take responsibility for your decisions. Must have a solid basis for engaging in a jump in and jump out scenario. JI/JO is strongly not recommended. JO is better specially for losing Positions. But NEVER a JI in A RUSH.
Still holding my shorts on GBPJPY.
Will do my counts now as I just arrived back at my place here.
This is a bit squeeky as I could have exited at a small profit this morning when price went down. BUt anyway, I made my decision based on what I was looking at on my chart and on my counts. I will see again later after I finish my count for the day.
EG
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EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
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#504
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2007 8:04am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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hhhmmmm..
I just noticed that huge Vote of No Confidence.... Not that I am aiming for the Positive Votes.
But it sure does tell when people do not like what you write.
Well, I can not please everyone. I only write what I see and what I think my charts are telling me.
The decision to trade is not mine except on my own trades. I decide on my trades and the scenarios I present here are my opinion and other people's opinion that I too see But may not necessarily trade.
I still welcome criticisms ( hopefully, constructive ). I must admit I am not perfect. That is why I am willing to learn.
GBPJPY..
still bearish for me. although was a bit nervious the last 12 hours.
Possible early targets at
230.04
227.25
EG
__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
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#505
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2007 11:48am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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Something to add to the EW Bearishness.
Looks like many of the bears have jumped ship and switched sides.....
Here inside the box is what I consider as the iverted head and shoulder.
Then a lower high.
Also Support trendlines broken.
Major Resistance at 234.38. Next to watch for is the Weekly resistance at 232.10
All these are used to supplement my EW Count.
EG
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__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
Last edited by el grande, Sep 3, 2007 12:08pm
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#506
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2007 6:38pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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EW Count UNDERFIRE and Challenged.
Let us see if it withstands the bombardment.
Will these trendlines ( Support and Resistance ) hold?
EG
PS. Stil holding my shorts
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__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
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#507
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2007 7:09pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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Trendline Broke..
The herd must have gotten bored and let go of their guard.
Time for the Bears to Pounce and Race this.....?
Watching this retracement now.
Waiting to break lower than 231.28
First Support is @ 233.27
Mid-Primary and Secondary Support @ 233.03
Secondary Support which could be strong is @ 232.91
Going lower than 232.91 could see price attacking 232.10 towards 231.87
Lower than these.... Following Levels to watch for:
231.50
231.25
230.47
229.69
228.71
224
EG
__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
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#508
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2007 7:23pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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http://www.forexfactory.com/images/icons/icon1.gif GBPJPY Breakout ?
Culd be a valid breakout.
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__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
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#509
http://www.forexfactory.com/images/statusicon/post_old.gif Sep 3, 2007 7:33pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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http://www.forexfactory.com/images/icons/icon1.gif Potential Labels for GBPJPY Micro - EW Count
GBPJPY Possible Micro EW Count
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__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
Sep 3, 2007 10:08pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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Another poke at the yellow trendline.
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__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS
Sep 5, 2007 6:14pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
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GBPJPY
WHy am I still Long?
Option Count 1 is Aqua. - Notice that a 5 wave secquence may have been finished . But it has not gone lower than the previous low at 232.35 Then this could be a sub wave B of a corrective wave 2.
Option Count 2 is Yellow. - Either way, this is bound for a retrace. SO I will try to reduce loss here by exiting on the end a next retrace.
EG
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__________________
EW Counts are basically about increasing Probabilities. They are not Perfect. My EW Counts are Recommended for DEMO Trading only. They should be viewed as POTENTIAL Scenarios and MUST NEVER be considered as TRADE CALLS