Feb 26, 2008 1:35am
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Hi guys, the same I havehttp://www.forexfactory.com/images/smilies/peace.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=89873&stc=1&thumb=1&d=1204007731
http://www.forexfactory.com/images/buttons/quote.gif #1987
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 26, 2008 12:53pm
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
GBP/USD 1 hour
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90027&stc=1&thumb=1&d=1204048422
http://www.forexfactory.com/images/buttons/quote.gif
#1988
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 27, 2008 7:04am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Looks like GBPJPY is doing it again.
While most of the USD majors are seen to retrace wave 1 for wave 2 by 61.8%, GBPJPY would retrace up to 88% of wave 1.
Current price action leads me to believe that Price is now on the wave 3 of the wave 5 Red down to finish wave 3 Green.
Unless 213.86 is taken out ( Pinbar)
Note that these charts are daily and 4 hours. We can expect another move up on the 15 min chart for that wave 2 retrace on the wave 1 down of higher degree.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90276&stc=1&thumb=1&d=1204113744 http://www.forexfactory.com/attachment.php?attachmentid=90281&stc=1&thumb=1&d=1204114107 http://www.forexfactory.com/attachment.php?attachmentid=90282&stc=1&thumb=1&d=1204114107 http://www.forexfactory.com/attachment.php?attachmentid=90304&stc=1&thumb=1&d=1204118497
__________________
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, Feb 27, 2008 8:22am
Feb 27, 2008 10:36am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
GBPJPY
Price projection seems 22 pips of the actual point where it made a retrace unless this potential wave 4 is an irregular flat.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Hey adji04.. its been sometime since you've posted here. will try to post sometjhing on eurusd later.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90337&stc=1&thumb=1&d=1204126535
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #1991
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 27, 2008 10:51am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
adjusted wave 3 end and happy to TP @ 50% retrace or near that mark
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90340&stc=1&thumb=1&d=1204127339
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#1992
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 27, 2008 1:33pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif EURUSD
Quote:
Originally Posted by adji04 http://www.forexfactory.com/images/buttons/viewpost.gif
good nigh EG..nice to meet you againhttp://www.forexfactory.com/images/smilies/yim/happy.gif
how about eur/usd plz...
thx
adji04....took me awhile to get this thing up.
anyway, you will see how the earlier proposed counts or potential counts are eliminated for various reasons.
2nd chart is the only way I see now which is possible to explain for the wave count that supports the move up. Previous high of wD was taken out so that eliminated the complex count I initially suggested when the symmetrical triangle failed .
Although I earlier mentioned that if we switch to a line graph, we would have a BULLISH Barrier triangle.
So now I have to switch to a line chart and the support and resistance trendlines somehow fit into the barrier triangle.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90389&stc=1&thumb=1&d=1204137179 http://www.forexfactory.com/attachment.php?attachmentid=90390&stc=1&thumb=1&d=1204137179 http://www.forexfactory.com/attachment.php?attachmentid=90394&stc=1&thumb=1&d=1204137512
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#1993
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 27, 2008 3:21pm
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Looks interestinghttp://www.forexfactory.com/images/smilies/yim/thinking.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90418&stc=1&thumb=1&d=1204143654
http://www.forexfactory.com/images/buttons/quote.gif
#1994
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 27, 2008 4:07pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Potential for wave 2 after finishing wave 1 on 15min chart of GBPJPY.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90430&stc=1&thumb=1&d=1204146442
__________________
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
Feb 27, 2008 11:25pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
15min chart .
Moving Average System based on the Trend Follower plus stochastics also provide a visual for me when doing my wave counts.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90504&stc=1&thumb=1&d=1204172633
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #1998
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 27, 2008 11:40pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
going down the 5min chart on GBPJPY....
Boxed area could see the beginning of wave 2 UP Red.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
ps. sorry for the chart delay. had to restart my pc because I could not attach the chart to the post earlier.
1150 GMT
pps
I apologize for the eurusd label on the chart. I missed to remove that as I was switching between currency pairs and using the same chart template.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90513&stc=1&thumb=1&d=1204174098
__________________
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, Feb 28, 2008 6:42am
Feb 28, 2008 5:16am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif
GBPUSD
Quote:
Originally Posted by fxdoc http://www.forexfactory.com/images/buttons/viewpost.gif
Today's wave pattern from yesterday's high at 1.9975 may indicate wave C completed and we have wave (1) of new downtrend ??
lets see if we get just an (abc) retracement now ?
If so - Good selling point.....
This would mean wave C was a 3 waves affair, completing a wave (IV) ??
Have a nice Day !
well your high is better than what I got. mine was only 1.9970 while yours was at 1.9975. My target was at 1.9979
looks like wave 4 turned out to be a FLAT wave for now. as to wave C being a 3 wave....... you could be right and be wrong on that in labelling terms as I am.
let me explain this....
we can both be right that wave 4 ended at your 1.9975 and my 1.9970
=== if we get a 5 waves down then a 3 waves up then another move down to take out or go lower than the low of the previous 5 wave down. Getting 2 Lower Highs (LH).
by being wrong in labelling terms, i am refering to using wxyxz instead of the usual abc for this corrective wave.
please voice up your opinion on this if you do not agree. I am just starting to realize or rationalize this.
in most of the references I have encountered or all that I can remember is that :
wave A can be a 3 (zigzag, flat or irregular) or a 5 (impulse or triangle) wave structure and
wave B can be 3 (zigzag, flat or irregular) or 5 (triangle only) wave structure while
wave C is always 5 wave structure (motive: impulse, triangle, truncated)
for this "wave C" to be 3 wave structure, then the overall structure must be a complex correction which should be labelled as wxyxz.
just my thought running thru this analysis.
However, if we get 3 waves down instead of 5 waves down on the 4 hour chart , then watch out as price will need to maki a 5 wave move up with a potential limit at 2.0360
A or 1 must be A because of the 3 wave structure of that leg.
That leaves as with a BIG ABC structure where 1.9337 may have been the bottom of this ABC correction. and that mobe up from 1.9337 was w1, w2 and we are actually seeing a w3 in development on the Daily chart.
OR
we are seeing a much bigger correction structure where what we actually have on the GBPUSD daily chart is wA, wB and w1 of wC. and no we are seeing w2 of the wC which if it retraces w1 of wC by 61.8% will be @ 2.062 just a bit below the FE 161.8 for a FLAT corrective w2 of wC.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90578&stc=1&thumb=1&d=1204193754 http://www.forexfactory.com/attachment.php?attachmentid=90579&stc=1&thumb=1&d=1204193754 http://www.forexfactory.com/attachment.php?attachmentid=90580&stc=1&thumb=1&d=1204193777 http://www.forexfactory.com/attachment.php?attachmentid=90581&stc=1&thumb=1&d=1204193777
http://www.forexfactory.com/attachment.php?attachmentid=90582&stc=1&thumb=1&d=1204193796 http://www.forexfactory.com/attachment.php?attachmentid=90583&stc=1&thumb=1&d=1204193796
__________________
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
Feb 28, 2008 6:39am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY wave count revision
extended wave 3.
Missed an earlier opportunity to scalp that wave 5 of 3 instead of waiting till 209.
I got a false signal based on my Andrews Pitchfork earlier but would have still profitted from my shorts earlier if I kept watch.
Now wave 4 Purple at 38.2% lands on 211.27. That could be the leg A of a FLAT wave. Leg B may be in development now. so need to watch the wave C up to finish the FLAT wave 4.
That could land us back to
211.27 minimum
211.70 likely
212.07
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
PS. I like to spice up my charts with colors. helps break the monotony of all those lines. http://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90604&stc=1&thumb=1&d=1204199128
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2002
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 28, 2008 7:56am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY Revision
after reviewing the charts again.
I realized that I missed out on some details.
1. wave 2 was not a zigzag but a corrective flat.
2. wave 3 was not extended
3. and that what I initially labelled as wave 2 of 3 was actually a wave 4 as it did not overlap with the original wave 1.
4. meaning wave 5 is now the extended wave.
the 2nd chart helped to verify that thinking..
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90625&stc=1&thumb=1&d=1204203256 http://www.forexfactory.com/attachment.php?attachmentid=90626&stc=1&thumb=1&d=1204203357
__________________
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
Feb 28, 2008 8:56pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Hedged all my long trades @ 208.46
I should have hedged all my long trades when it broke 208.77 and pulled back to 208.83
I have to remind myself that that this is wave 3 even if it is inside a wave 5 but still a part of the bigger wave 3 green.
Therefore, I am now leaving all my trades alone and allow the Short trades to mature or TP at
FE 161.8 200.04or
FE 200.0 198
I am not up for scalping this wave 3 anymore. will only pull out my short trades if I see a major reversal.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90817&stc=1&thumb=1&d=1204250133 http://www.forexfactory.com/attachment.php?attachmentid=90818&stc=1&thumb=1&d=1204250133 http://www.forexfactory.com/attachment.php?attachmentid=90819&stc=1&thumb=1&d=1204250149
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2009
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 28, 2008 9:10pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Pullback is where re-entry for shorts should have been taken as it takes out wave 1 end.
One may argue , " what about the possibility of an irregular FLAT"?
well, for me if you look at the size of wave 2, it would already be out of proportion considering the size of wave 1.
so, to me going lower than end of wave 1 confirms we are in wave 3 for GBPJPY.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90823&stc=1&thumb=1&d=1204251050
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2010
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 28, 2008 10:39pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY Scalping
I got back a litlle earlier than expected . So I have a bit more time to work on GBPJPY now.
checking the 5min chart, it would seem that price is In a wave 4 turq before finishing off wave 5 magenta to finish the bigger wave 1.
I would look for wave 1 end to be around 207.40 if by Guideline of wave extention is used where w1 = w5 if wave 3 is extended.
from the end of wave 1 or should I say w31 blue, retracements could land on any of the following:
23.6% @ 208.84
38.2% @ 209.72
50.0% @ 210.44
61.8% @ 211.16
Traing long now for this retrace ia not advisable.
I would rather use it to add to my short orders preferably a small percentage when it hits 210.44
I just might exit my long trades when it reaches that area. But that depends on what I see on my charts again.
I would really just want to ride this pair down now.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90835&stc=1&thumb=1&d=1204256280 http://www.forexfactory.com/attachment.php?attachmentid=90836&stc=1&thumb=1&d=1204256280 http://www.forexfactory.com/attachment.php?attachmentid=90837&stc=1&thumb=1&d=1204256305
__________________
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
Feb 28, 2008 11:54pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
GBPJPY
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90853&stc=1&thumb=1&d=1204260858
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2012
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 12:48am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
GBPJPY
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90866&stc=1&thumb=1&d=1204264083 http://www.forexfactory.com/attachment.php?attachmentid=90867&stc=1&thumb=1&d=1204264083 http://www.forexfactory.com/attachment.php?attachmentid=90868&stc=1&thumb=1&d=1204264096
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2013
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 12:56am
fxdoc
Member
Member Since Nov 2007
137 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBP/USD
I thought we had a double three off that low at 1 9335
but, we may be looking at wave (4) of C or beginnings of (i) of (5)of C.
So new high(s) still to come.....
http://www.forexfactory.com/images/buttons/quote.gif
#2014
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 1:22am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by fxdoc http://www.forexfactory.com/images/buttons/viewpost.gif
I thought we had a double three off that low at 1 9335
but, we may be looking at wave (4) of C or beginnings of (i) of (5)of C.
So new high(s) still to come.....
Daily chart for me would indicate :
1. a wC5 of a wave 2 UP FE 100.0 @ 1.9979 or FE 161.8 @ 2.0360 or
2. w2 finished with just 38.2% retrace of w1 @ 1.9970 or
3. where you see purple 35 could be end of wave Y and the move to A5 is actually w1 then w2 down to Bzz and w3 going for FE 161.8 @ 2.0360
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90875&stc=1&thumb=1&d=1204266118 http://www.forexfactory.com/attachment.php?attachmentid=90876&stc=1&thumb=1&d=1204266118
__________________
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
Feb 29, 2008 1:45am
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Gbp/Jpy. looks like we are in the 3 wave
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90883&stc=1&thumb=1&d=1204267494
http://www.forexfactory.com/images/buttons/quote.gif #2016
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 1:47am
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Buy the way Eur/Jpy turned around as it was supposed.
Good luck http://www.forexfactory.com/images/smilies/peace.gif
http://www.forexfactory.com/images/buttons/quote.gif
#2017
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 4:42am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Looks like next possible suppport is at 200.0 or should I say ,
177.83 - 189.96 for the end of wave 3 down?
Now we need to walk away from the computer and set those TPs at 177.
Make sure all those accounts with current Long Trades are able to withstand this huge drawdown.
Technically wave C Pink can only be till 197.85 at FE 161.8
TThat is on the Daily chart. But based on FIB Extention Projection and internal structure of wave 3 green, price may go down to as low as 189.96 down to 177.83 before a possible medium term reversal is seen.
Call it radical, but that is what my charts are telling me now. Anyway, I still have my long trades and have fully hedged them .
Now time for me to sit back, watch and maybe do something else for now.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90942&stc=1&thumb=1&d=1204277683
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2018
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 7:41am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
GBPJPY
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=90997&stc=1&thumb=1&d=1204288821 http://www.forexfactory.com/attachment.php?attachmentid=90998&stc=1&thumb=1&d=1204288821 http://www.forexfactory.com/attachment.php?attachmentid=90999&stc=1&thumb=1&d=1204288838
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2019
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 10:06am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY Triangle wave 4
GBPJPY Triangle wave 4
exited my short hedge earlier and getting ready to hedge again.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91031&stc=1&thumb=1&d=1204297544
__________________
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
Feb 29, 2008 10:15am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY the Aftermath
Looks like the triangle wave 4 worked out.
But that is further validated if it breaks below the point 0 of the triangle.
That would validate a wave 5 in progress
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91032&stc=1&thumb=1&d=1204298113
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2021
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 12:51pm
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
Gbp/Usd
What a week the Bulls we are having huh , http://www.forexfactory.com/images/smilies/yim/happy.gif
////////////////////////////////////////////////////////
-Here is a look at where it all started to unfold
-----------------------------------------------
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91058&stc=1&thumb=1&d=1204307503
http://www.forexfactory.com/images/buttons/quote.gif
#2022
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 12:55pm
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
Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
Gbp/Usd
What a week the bulls we are having huh , http://www.forexfactory.com/images/smilies/yim/happy.gif
////////////////////////////////////////////////////////
-Here is a look at where it all started to unfold
-----------------------------------------------
Going and still kept Going up ....Wow!......
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91059&stc=1&thumb=1&d=1204307704
http://www.forexfactory.com/images/buttons/quote.gif
#2023
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 3:31pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
hmmmm.....
The triangle on the 5min chart may have been invalidated. But a FLAT corrective wave can now bee seen on the 15 min chart.
Patience may just pay off as the hedge is turning positive for my short trade again.
Next week will see me do the following:
1. Exit the short trade hedge when there is a possibility of a 20 or more pips counter trend and re-entering the short trade again when it gets back to the main trend which is down.
2. Or I can just leave the hedge alone and scale down to 10% of my usual trade value for additional trades I would make while nursing the hedge.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91099&stc=1&thumb=1&d=1204317098
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2024
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 5:00pm
http://www.forexfactory.com/nfs/avatar61584_2.gifbigcoupe
Senior Member
Member Since Feb 2008
http://www.forexfactory.com/images/misc/9kt.gif818 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Forgive me as I am still learning.
What is your TP for the current wave?
I went long when we bounced off of 206 but am still assesing the long term direction of this puppy.
B
http://www.forexfactory.com/images/buttons/quote.gif
#2025
http://www.forexfactory.com/images/statusicon/post_old.gif Feb 29, 2008 5:39pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY Outlook for the Coming Days and Weeks
Here is putting the the outlook for GBPJPY in a very simplistic presentation.
These are very general ideas based on what I see on my charts and what my wave counts and guidelines I use are telling me.
Due to this pair's volatile nature, keeping a close watch on your trades is best advised. Large swings result in large drawdowns. Scalping this pair requires a high degree of experience, a broker with as little spread as possible for this pair and a selection of proper trading period.
Short -Term to Medium Term trading of this pair can be very risky yet very and largely rewarding. However, landing on the other side of the trade will definitely require a deep pocket for the possible drawdowns.
Large drawdowns in monetary terms can be BEST faced if you apply good money management like trading using very low margins. Otherwise, your trading pocket must be really DEEP. http://www.forexfactory.com/images/smilies/yim/happy.gif
Anyway, details of the forecast are on the chart. If you have questions , just post it here and I will try to get back to you as soon as I can.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
PS.
Note that I have existing Long Trades from the 213.30 level. That one was big and I preferred to hedge that rather than take the already large drawdown it incurred.
But hedging it and trying to maximize potential of this hedge requires doing it on a higher timeframe and not the scalps. I do not recommend scalping the hedge. Unless.... you are very sure of where the market turns ( which many of us are actually unsure, like I am).
But I am taking that risk and I will be responsible for my trades. For newbies.... it is still best advised to DEMO Trade if you like this pair. But better to start with EURUSD or GBPUSD specially if you use Elliott Wave Analysis.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91122&stc=1&thumb=1&d=1204324372 http://www.forexfactory.com/attachment.php?attachmentid=91134&stc=1&thumb=1&d=1204326941 http://www.forexfactory.com/attachment.php?attachmentid=91135&stc=1&thumb=1&d=1204326941 http://www.forexfactory.com/attachment.php?attachmentid=91136&stc=1&thumb=1&d=1204326956
__________________
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
Mar 2, 2008 8:43pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Looking at the lower TF of GBPJPY
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91420&stc=1&thumb=1&d=1204508570
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2028
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 2, 2008 9:03pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
5min chart shows potential bearish continuation
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91425&stc=1&thumb=1&d=1204509801
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2029
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 2, 2008 10:14pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
GBPJPY Update
Wave count adjusted but remain Bearish
1st target for wave end of smal w1 before a potential retrace of 50-61.8% UP.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91433&stc=1&thumb=1&d=1204514028
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2030
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 2, 2008 11:59pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY Regular or Irregular FLAT
GBPJPY Regular or Irregular FLAT.
5min
Tenkan-sen and Kijun sen have crossed each other within the Kumo
Price has crossed the Kumo
But could possibly face some resistance based on the Chikou Span
Chikou span crossed price but inside the kumo.
overall weak to neutral signal to go long
15min
overall price move going up may face resistance from a thick Kumo on the 15min chart
thus potentially completing the wave 4 on my EW count of a w1 of highere degree.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91453&stc=1&thumb=1&d=1204520332 http://www.forexfactory.com/attachment.php?attachmentid=91456&stc=1&thumb=1&d=1204521150
__________________
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, Mar 3, 2008 12:21am
http://www.forexfactory.com/images/buttons/quote.gif
#2031
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 3, 2008 1:51am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Target achieved
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91469&stc=1&thumb=1&d=1204527073 http://www.forexfactory.com/attachment.php?attachmentid=91470&stc=1&thumb=1&d=1204527073
__________________
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
Mar 4, 2008 6:10am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
GBPJPY Update.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91867&stc=1&thumb=1&d=1204628419 http://www.forexfactory.com/attachment.php?attachmentid=91868&stc=1&thumb=1&d=1204628419 http://www.forexfactory.com/attachment.php?attachmentid=91869&stc=1&thumb=1&d=1204628434
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2033
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 4, 2008 7:19am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Possible further retracement for GBPJPY
I would say NEXT Target is 206.73
Long @ 204.77
While I still hold both Long and short trades (HEDGE), Short trades will have to be unloaded at the end of this wave 3.
In the meantime, smaller trade units will be made to take advantage of this opportunity.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91888&stc=1&thumb=1&d=1204633168
__________________
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, Mar 4, 2008 7:33am
http://www.forexfactory.com/images/buttons/quote.gif
#2034
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 4, 2008 7:55am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
http://www.forexfactory.com/images/smilies/yim/thinking.gif
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91893&stc=1&thumb=1&d=1204635328
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2035
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 4, 2008 1:28pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
UPDATE
Possible counts
Points to consider.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=91989&stc=1&thumb=1&d=1204655044 http://www.forexfactory.com/attachment.php?attachmentid=91990&stc=1&thumb=1&d=1204655044 http://www.forexfactory.com/attachment.php?attachmentid=91991&stc=1&thumb=1&d=1204655062 http://www.forexfactory.com/attachment.php?attachmentid=91992&stc=1&thumb=1&d=1204655062
__________________
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
Mar 4, 2008 1:51pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif Alternative view of GBPJPY
Alternative view of GBPJPY
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92004&stc=1&thumb=1&d=1204656929
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2037
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 4, 2008 2:24pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY Technicals
GBPJPY still has not broken out of the Previous days Price Range with the Low @ 203.47 with its current low of 203.66
Daily Support 1 @ 203.80
Weekly Support 1 @ 203.68
This could still be the wave B of the wave 54
With the 1st TP now @ 206.25 Murrey Math Strong Resistance Level which is near the 23.6% retrace. Price may just go thru the Daily Pivot @ 204.79
FE 100.00 is @ 205.98
Have already UNHEDGED my Long trade. Closed my short trade for the bigger chunk. But hedged the smaller trade.
Time to get some rest now.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2038
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 4, 2008 2:45pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif Channeling
Linear Regression Channel and Channel Tool on the GBPJPY
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92017&stc=1&thumb=1&d=1204659887 http://www.forexfactory.com/attachment.php?attachmentid=92018&stc=1&thumb=1&d=1204659887
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2039
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 4, 2008 3:20pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
more charts
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92026&stc=1&thumb=1&d=1204661968 http://www.forexfactory.com/attachment.php?attachmentid=92027&stc=1&thumb=1&d=1204661968
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2040
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 4, 2008 7:58pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
GBPJPY
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92111&stc=1&thumb=1&d=1204678544 http://www.forexfactory.com/attachment.php?attachmentid=92112&stc=1&thumb=1&d=1204678544 http://www.forexfactory.com/attachment.php?attachmentid=92113&stc=1&thumb=1&d=1204678558
__________________
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
Mar 4, 2008 8:06pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
w5 of wC?
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92116&stc=1&thumb=1&d=1204679165
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2042
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 4, 2008 11:26pm
http://www.forexfactory.com/nfs/avatar55375_1.gifpipchaser
Expect the unexpected
Member Since Dec 2007
95 Posts
http://www.forexfactory.com/images/icons/icon1.gif good job
hi el grande, you're a doing very good job herehttp://www.forexfactory.com/images/smilies/yim/thumbsup.gif I'm a novice in EW and my learning is easier with your thread. Thank you.
Keep going
http://www.forexfactory.com/images/buttons/quote.gif
#2043
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 5, 2008 12:08am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Thank you pipchaser. I hope this really helps you.
Price is above Daily pivot of 204.79
Daily R1 is @ 206.10
Previous Days High (based on Previous days Hi and Lo Range ) Is @ 205.68
I would watch price if it successfully breaksout of this range. For me, there is a high probability of this happening as price is already above daily pivot.
Weekly Pivot though is @ 207.71
Price though looks like it might still retest the pivot level where a median line also exists. then ..if it does not continue downwards...
Chances are .... Price may go up but encounter a strong resistance on the weekly pivot level of 207.71
TP levels
205.68
206.44
206.68
206.92
These are mere notes that you may want to observe on your charts together with your technical indicators. I have to go out now and will be back US session.
if you see the same target levels, let us know.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2044
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 5, 2008 12:31am
http://www.forexfactory.com/nfs/avatar55375_1.gifpipchaser
Expect the unexpected
Member Since Dec 2007
95 Posts
http://www.forexfactory.com/images/icons/icon1.gif my TP
my daily pivot is at 204.81 and my targets are Fibo levels:
205.84 23.6
207.30 38.2
208.49 50
I will closely watch for reversal patterns in those areas.
http://www.forexfactory.com/images/buttons/quote.gif
#2045
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 5, 2008 3:35am
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
Gbp/Usd
Hmmm ............. ?http://www.forexfactory.com/images/smilies/yim/cool.gif
-------------------------------------------------------
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92224&stc=1&thumb=1&d=1204705929 http://www.forexfactory.com/attachment.php?attachmentid=92228&stc=1&thumb=1&d=1204706064 http://www.forexfactory.com/attachment.php?attachmentid=92232&stc=1&thumb=1&d=1204706186
http://www.forexfactory.com/images/buttons/quote.gif
#2046
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 5, 2008 6:26am
money
Multiple Usernames
Member Since Jul 2007
http://www.forexfactory.com/images/misc/1kt.gif106 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by marketwavez http://www.forexfactory.com/images/buttons/viewpost.gif
Gbp/Usd
Hmmm ............. ?http://www.forexfactory.com/images/smilies/yim/cool.gif
-------------------------------------------------------
Hello Marketwavez.
i chaged your counting a little, it looks more clear and undrestanding now.
i still believe that GBP/USD will go higher in this week, and that supports around 1,700 will hold. Anyway, i hope you dont mind, that i changed your picture.
http://www.forexfactory.com/attachment.php?attachmentid=92290&thumb=1&d=1204716404
Mar 5, 2008 8:11pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Quote:
Originally Posted by pipchaser http://www.forexfactory.com/images/buttons/viewpost.gif
my daily pivot is at 204.81 and my targets are Fibo levels:
205.84 23.6
207.30 38.2
208.49 50
I will closely watch for reversal patterns in those areas.
Looking good for you pipchaser....
Yesterday before I left, I had placed 2 small equal Long trades @ 205.18
However, I placed a Stop Loss on 1 (@204.60 ) which was a 38.2% retrace from the previous day's high while I let the other one loose with out an SL.
When I came back around US session, I saw the SL triggered while the other was in profit. I exited the one with profit without further analyzing it for Net loss of 40 pips on those 2 trades. I did not have much energy left to stay up and watch my trades after a long drive around the city for nearly 6 hours.
Now, it looks like we were actually on the correct direction.
The labels on the chart should be self explanatory aside from the notes. However, if you have questions..... just ask.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92598&stc=1&thumb=1&d=1204765706 http://www.forexfactory.com/attachment.php?attachmentid=92599&stc=1&thumb=1&d=1204765706 http://www.forexfactory.com/attachment.php?attachmentid=92600&stc=1&thumb=1&d=1204765729 http://www.forexfactory.com/attachment.php?attachmentid=92601&stc=1&thumb=1&d=1204765729
http://www.forexfactory.com/attachment.php?attachmentid=92602&stc=1&thumb=1&d=1204765756 http://www.forexfactory.com/attachment.php?attachmentid=92603&stc=1&thumb=1&d=1204765756 http://www.forexfactory.com/attachment.php?attachmentid=92604&stc=1&thumb=1&d=1204765775
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2049
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 5, 2008 8:54pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
GBPJPY m30 details
sorry ... this did not go thru earlier.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92616&stc=1&thumb=1&d=1204768451
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2050
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 5, 2008 11:21pm
http://www.forexfactory.com/nfs/avatar55375_1.gifpipchaser
Expect the unexpected
Member Since Dec 2007
95 Posts
http://www.forexfactory.com/images/icons/icon1.gif G/J daily
Hi el,
I took a look on daily charts for geppy and I think that it just completed W1, now we are in W2 but I have no clue about what kind of correction can be. I'm waiting for first wave of W2 retracement to have an opinion. What do you think?
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92636&stc=1&thumb=1&d=1204777284
Mar 6, 2008 1:33am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Thanks pipcatcher for bringing this up. I do not mean to shoot down your thoughts on this. However, I will just provide some points I thought you might want to consider (which I considered before I set aside the same count you just made.
1. if you look at the 1st chart on the series above this post, you will notice also that the stochastics I had on the chart somehow formed a triangle.
2. Aside from that, I noticed that the legs of that potential triangle were smaller than the one to their left. This would have been 2nd pt to qualify it as a triangle
However, there was also an alternative count. I looked around for a possible reason to sdispute the triangle. And the only one I found was the form of this triangle. It would look more like a Barrier triangle with the inverted side.
from what I can deduce with the barrier triangle format, the breakout usually occurs on the flat side and not the slanted side. This can not be a symmetrical triangle for me as it has one side less angled to the apex than the other.
Next is I looked at the Time Component. Measuring how much time was consumed for wave 2 compared to this proposed wave 4. I remembed somebody telling me before that w4 is normally equal to wave 2 interms of time. I have not come across this in the books yet as far as I can remember.
If I place wave 4 where you placed yours, then w4 would have taken longer than wave 2. But it could be a reason to match the wave breakdown with your MACD. I can still be wrong with my count.
Next I checked was the technical indicators.
If price is indeed in wave 2 now, then this would have to climb towards
61.8 208.26
78.6 209.56
88.0 219.29
But Monthly Pivot is @ 208.67
Weekly Pivot @ 208.58
If price goes higher than this substantially, then Price will already have reversed and this cannot be wave 2 then. (Just my thought)
Based on the Previous day's Range and FIB Breakout, I would consider price going higher than the monthly and weekly Pivot towards Maximum of 209.34 which is Daily R2 and near the 61.8% FIB Breakout.
But this is even a bit contradictory to the usual retracement done by wave 4 which should be from 38.2 - 50% of wave 3. So I would be inclined towards 208.26 which is 61.8% of wave 3
If this is really wave 4 and it retraces more than 61.8%, based on the Guideline, next to watch is potential wave 5 failure (Truncated)
Your asking me this has made me go over that time guideline for wave 4. Based on a higher timeframe, wave 4 must end around 030908 (magenta vertical line on the chart). but the internal structure for the c4 is nearly complete.
Now, I am inclined to watcch this as a potential complex sideways expansion as the WXYXxZ instead of the ABC or WXY due to this time factor.
So these are the thoughts that I base my trading decisions on.
Price going up to finish c5 then down for Xx towards 206.25 to 205.40 and bouncing from there to finish Z of w534 till 030908.
This is just laying a map for this price. But this can still change. What I do is set this up then monitor and see if price does work as was planned.
In the event that Price movement deviates, then a new map is drawn whenever possible.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92654&stc=1&thumb=1&d=1204784872 http://www.forexfactory.com/attachment.php?attachmentid=92655&stc=1&thumb=1&d=1204784872 http://www.forexfactory.com/attachment.php?attachmentid=92657&stc=1&thumb=1&d=1204784910 http://www.forexfactory.com/attachment.php?attachmentid=92658&stc=1&thumb=1&d=1204784947
http://www.forexfactory.com/attachment.php?attachmentid=92659&stc=1&thumb=1&d=1204784947
__________________
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, Mar 6, 2008 3:48am
Mar 6, 2008 8:24am
money
Multiple Usernames
Member Since Jul 2007
http://www.forexfactory.com/images/misc/1kt.gif106 Posts
http://www.forexfactory.com/images/icons/icon1.gif USD/JPY
Hello guys. I am back after long time in this threat. I was watching correction in USD/JPY for a long time now, and maybe i figured out how could it be.
I believe that we are in big wave IV, where should JPY break down again in few days. First move in this correction was expanded diagonal triangle in wave a, then zigzag in wave b, with triangle in subwave b and ending diagonal in subwave c. After that price continue to the last wave c of IV with another expanding diagonal triangle. So after this breakout i will wait on the 61,8% retricement where i will go short with 1/3 of the position, with stops above 104,20. If my sell 1 wont be achieved i will go short after breakout the lower trend line! grega
http://www.forexfactory.com/attachment.php?attachmentid=92788&thumb=1&d=1204809847
http://www.forexfactory.com/images/buttons/quote.gif #2058
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 9:42am
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
Quote:
Originally Posted by money http://www.forexfactory.com/images/buttons/viewpost.gif
Hello guys. I am back after long time in this threat. I was watching correction in USD/JPY for a long time now, and maybe i figured out how could it be.
Welcome Back ...... http://www.forexfactory.com/images/smilies/yim/happy.gif
Look forward to seeing more of your charts
http://www.forexfactory.com/images/buttons/quote.gif
#2059
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 9:57am
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
Gbp/Usd
UPDATE -Result
Here is how the trade set-up turned out .....http://www.forexfactory.com/images/smilies/yim/happy.gif
-------------------------------------------------
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92827&stc=1&thumb=1&d=1204815321 http://www.forexfactory.com/attachment.php?attachmentid=92828&stc=1&thumb=1&d=1204815321 http://www.forexfactory.com/attachment.php?attachmentid=92829&stc=1&thumb=1&d=1204815378
http://www.forexfactory.com/images/buttons/quote.gif
#2060
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 10:02am
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
Quote:
Originally Posted by money http://www.forexfactory.com/images/buttons/viewpost.gif
Hello Marketwavez.
i still believe that GBP/USD will go higher in this week, and that supports around 1,700 will hold.
Anyway, i hope you dont mind, that i changed your picture.
Attachment 92290
Gbp/Usd
I think you may be right about a rally .............http://www.forexfactory.com/images/smilies/yim/happy.gif
---------------------------------------------------------------
Here is another look at what may be occurring
----------------------------------------------------------------
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92830&stc=1&thumb=1&d=1204815718
http://www.forexfactory.com/images/buttons/quote.gif
#2061
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 10:21am
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
Us Dollar
Usd/Chf - wave-count
Us Dollar is Oversold ...... Very Oversold ! ................http://www.forexfactory.com/images/smilies/yim/happy.gif
/////////////////////////////////////////////////////////////////
- May now be making an End of Wave 5 Low
-----------------------------------------------------------
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92843&stc=1&thumb=1&d=1204816871
http://www.forexfactory.com/attachment.php?attachmentid=92290
Mar 6, 2008 1:17pm
s3padrian
Member
Member Since Apr 2007
373 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Here yah Go!
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92888&stc=1&thumb=1&d=1204827462
http://www.forexfactory.com/images/buttons/quote.gif #2063
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 1:33pm
s3padrian
Member
Member Since Apr 2007
373 Posts
http://www.forexfactory.com/images/icons/icon1.gif
I'd be very careful of this count of AUDUSD
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92896&stc=1&thumb=1&d=1204828417
http://www.forexfactory.com/images/buttons/quote.gif
#2064
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 1:44pm
s3padrian
Member
Member Since Apr 2007
373 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Here's an USDJPY count Update
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=92899&stc=1&thumb=1&d=1204829070
http://www.forexfactory.com/images/buttons/quote.gif
#2065
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 3:22pm
pickindim
Multiple Usernames
Member Since Mar 2008
1 Posts
http://www.forexfactory.com/images/icons/icon1.gif
No money on forum anymore??http://www.forexfactory.com/images/smilies/yim/confused.gif Infraction overload??
Why is that? He just discussed and posted his charts on forum.
http://www.forexfactory.com/images/buttons/quote.gif
#2066
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 10:10pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
adjusted wave count for 3 4 and 5 Lime Green to end C3 Purple
C4 Purple may be developing into a Symmetrical Triangle which could fill up the space in time towards 030908 to finish the w534.
Now look at the 2nd chart (m60). I have placed a RED horizontal line as the Limit for w534 inorder for it not to overlap with w531.
Then next to consider is the C to A relationship which is normally at the maximum of C = 161.8 A. with some exception running up to FE 261.8 or C = A 2.618 . Check the 3rd and 4th charts.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=93009&stc=1&thumb=1&d=1204859321 http://www.forexfactory.com/attachment.php?attachmentid=93010&stc=1&thumb=1&d=1204859321 http://www.forexfactory.com/attachment.php?attachmentid=93011&stc=1&thumb=1&d=1204859366 http://www.forexfactory.com/attachment.php?attachmentid=93012&stc=1&thumb=1&d=1204859366
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2067
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 10:31pm
fxdoc
Member
Member Since Nov 2007
137 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBP/USD
Quote:
Originally Posted by fxdoc http://www.forexfactory.com/images/buttons/viewpost.gif
Here we are, wave (4) finally completed previous night. Wave (5) developping !
Targets for wave (v)of(5) of C :
50% of the swing 2.1160/1.9336 = 2.0248
1.5 x wave A ....................... = 2.0292
1.618 x wave A ..................... = 2.0365
presently, we have reached close to 1.272 x wave A = 2.0151
against actual 2.0137
Have a nice day !
http://www.forexfactory.com/images/buttons/quote.gif
#2068
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 10:54pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
w534 proposed end after the suggested symmetrical triangle is equivalent to the widest portion of the triangle.
So I placed a FIB Retracement tool equivalent to the widest portion of the triangle from the end of 3 down to wave A of the triangle and super-imposed it at the suggested end of the triangle to project 207.98 as possible end of w534.
I have a Buy Limit @ 206.30 whioch is 61.8% retrace of the wave A of this proposed D leg of the triangle.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=93025&stc=1&thumb=1&d=1204861948 http://www.forexfactory.com/attachment.php?attachmentid=93026&stc=1&thumb=1&d=1204861948
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2069
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 6, 2008 11:15pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif Watch the Stochastics
I would watch Stochastics for its cross to coincide the short term reversal to head back up to the upper side of the triangle.
My Buy Limit is @ 206.30
If I get the stoch cross before it hits 206.30, then I will have to enter my Long Trade manually.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
PS. A drop lower than 205.94 will dispute the Symmetrical Triangle Proposed.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=93030&stc=1&thumb=1&d=1204863250
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2070
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 7, 2008 4:00am
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Hi guys. its a pity to loose Money:surprised
So here my counts on cable and cad/jpy
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=93064&stc=1&thumb=1&d=1204880388 http://www.forexfactory.com/attachment.php?attachmentid=93065&stc=1&thumb=1&d=1204880388
Mar 7, 2008 11:20am
s3padrian
Member
Member Since Apr 2007
373 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Updates on my previous counts.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=93182&stc=1&thumb=1&d=1204906812 http://www.forexfactory.com/attachment.php?attachmentid=93183&stc=1&thumb=1&d=1204906812
http://www.forexfactory.com/images/buttons/quote.gif #2074
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 8, 2008 11:19pm
s3padrian
Member
Member Since Apr 2007
373 Posts
http://www.forexfactory.com/images/icons/icon1.gif
I know people like USDJPY. Here's an alternate macro count.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=93423&stc=1&thumb=1&d=1205036341
http://www.forexfactory.com/images/buttons/quote.gif
#2075
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 9, 2008 4:27am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
GBPJPY
Using FIB Tools to Forecast Its Track
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=93441&stc=1&thumb=1&d=1205051151 http://www.forexfactory.com/attachment.php?attachmentid=93442&stc=1&thumb=1&d=1205051151 http://www.forexfactory.com/attachment.php?attachmentid=93443&stc=1&thumb=1&d=1205051183 http://www.forexfactory.com/attachment.php?attachmentid=93444&stc=1&thumb=1&d=1205051183
http://www.forexfactory.com/attachment.php?attachmentid=93445&stc=1&thumb=1&d=1205051211 http://www.forexfactory.com/attachment.php?attachmentid=93446&stc=1&thumb=1&d=1205051211 http://www.forexfactory.com/attachment.php?attachmentid=93447&stc=1&thumb=1&d=1205051236
__________________
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
Mar 9, 2008 9:25am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY Details 030909
Chart 1 is a weekly chart showing the number of days each of the 4 of 5 waves within the Wave C.
C1 took 16 days
C2 took 13 days
C3 took 26 days and
C4 took 16 days
To me C4 was a 3 wave structure and not a 5 wave structure.
Initially I was thinking that C4 would retrace C3 by 61.8 because C2 retraced C1 by 38.2.
However, if we look at the time factor, C2 took 13 days while C4 already took 16 days. I am then inclined to think that Time wise, instead of C4=C2, a little more than this or C4 taking longer than C2 is still acceptable.
What would be a bit unclear though is the adherence to the rule of alternation.
C2 internal structure has wb retrace wa by around 70% and wc projected/extended by around 80% of wa
While wb of C4 retraced wa by around 88% and wc projected/ extended by approximately 80% also
Some may argue that C4 may still be in a complex corrective wave which is continuing to expand. However, I would disgree with that because price has alread gone lower than the end of the proposed C3 thereby debunking the idea that C4 is expanding sideways in a complex corrective wave.
Chart 2
Daily chart showing the Time Factor I was looking at for w4 and w2.
Also you can see that I used a FIB Projection tool to forecast where w4 within C5 would end. I was already assuming that this was w4 inside C5 because as you can see on the daily chart3 waves of a proposed 5 wave secquence has already been finished. Even if you go to the lower time frames, these 3 waves to me satisfy the internal wave count requirements of w1, w2 and w3
Using the FIB extention tool, w4 could end at 209.02 or 211.59 FE 100 or FE 161.8.
However, looking at the other ways of projecting w4, it is said to be not to overlap with w1 which is @ 208.77. Therefore both projections may be too high.
Next, way to look at projecting w4 is the levels it has been observed to retrace w3 which are 23.6%. 38.2%, 50% and 61.8%. it is already past 38.2% and the wave c part of the corrective wave seems still unfinished. which leads me to think that there is still some more room for price to go up.
50% retrace is my next target which is @ 208.49 just below the Limit level where w4 is not supposed to overlap with w1.
Chart 3
Shows FE 100.0 and 161.8 aside from the the FIB retracement levels in particular the 50% @ 208.49
Chart 4
Shows more candlesticks and the internal structure of the w4 under the 4 hour chart
Chart5
Notice the Blue FIB Extention tool. w3 lands near the FE 200.0 level. When I when I encounter these situations, often I would observe w5 to reach the FE 300.00 level
Chart6
And FE 300 is @ 198.24..... This would be my first TP
Chart 7
But if we go back to wave of higher degree on the weekly chart and use the FIB extention tool again to project end of Wave C Purple ( see chart 7 ), FE 100.00 has be taken out or exceeded @ 209.49.
Next target level is @ FE 161.8 @ 189.80 which makes it the maximum target profit based on these 2 ways to project end of wave C
The first was projecting end of wave 5 of the higher degree wave C purple using the internal structure of wave 5 itself.
The second is projecting end of wave C using its known levels of relationship with wave A.
But there is one other thing to be considered. This whole ABC corrective wave is a wave 4 on the weekly chart. And we know that the main rule governing wave 4 projections is that it must never overlap with wave 1 of the same wave degree.
Chart 8
Below shows how I would label my weekly chart and it shows wave 1 to have had the high of 208.14 and this already has been overlapped with by our current corrective wave.
Based on the EW rules, The only time that wave 4 is allowed to overlap with wave 1 is when it is in a triangle.
Now I would not consider this as the actual trend reversal of the carry trade trend from 251.07 because of the 3 wave structure of the 1st leg down to 219.31
I still have something to add to this. But I will post this now and add later. Notes later will study or discuss in some detail this big wave 4 and its implications in the overall EW scenario for this pair.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=93471&stc=1&thumb=1&d=1205069113
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2077
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 10, 2008 4:21am
adji04
Member
Member Since Dec 2006
56 Posts
http://www.forexfactory.com/images/icons/icon1.gif ask:E/U please....
guys plz post eurusd...
because i will start trading with this curr ...
thankshttp://www.forexfactory.com/images/smilies/yim/winking.gif
http://www.forexfactory.com/images/buttons/quote.gif
#2078
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 10, 2008 6:47am
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Quote:
Originally Posted by adji04 http://www.forexfactory.com/images/buttons/viewpost.gif
guys plz post eurusd...
because i will start trading with this curr ...
thankshttp://www.forexfactory.com/images/smilies/yim/winking.gif
What time frame do you use for trading euro?
http://www.forexfactory.com/images/buttons/quote.gif
#2079
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 10, 2008 8:04pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
I hope all of you profitted from that sell off.
I got to unhedge my long trades by exiting my equivalent short trade after w3 bottomed just in time to still have some positive pips in the bag.
Signal that there was this opportunity was when that Aqua Trsymmetrical triangle formed nicely. w5 if w4 was a triangle was supposed to have been equal to the widest part of the triangle and based on the Guideline of wave equality w5=w1 for waves inside an extended wave 3.
As you will see I was able to re-enter my new short trade right near where it turned around to end w4 blue. Incidentally, that was a wc=wa for a zigzag w4 after w2 being a FLAT.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=93986&stc=1&thumb=1&d=1205193739 http://www.forexfactory.com/attachment.php?attachmentid=93987&stc=1&thumb=1&d=1205193739 http://www.forexfactory.com/attachment.php?attachmentid=93988&stc=1&thumb=1&d=1205193815 http://www.forexfactory.com/attachment.php?attachmentid=93989&stc=1&thumb=1&d=1205193815
http://www.forexfactory.com/attachment.php?attachmentid=93990&stc=1&thumb=1&d=1205193855
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2080
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 10, 2008 8:19pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY on lower TF
checking the lower TF for Potential retracement where 1 can add on to their position if they want.
This seems to have finished w51 so expecting a 50-61.8% retrace back up towards 204.18
I would not recommend trading long yet. I would prefer to stick to the main trend.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=93996&stc=1&thumb=1&d=1205194696 http://www.forexfactory.com/attachment.php?attachmentid=93997&stc=1&thumb=1&d=1205194696
__________________
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
Mar 10, 2008 8:59pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif RISKS on GBPJPY
unhedged at the zigzag pull back and re entered above it.
re entered a bit early but safer with already a positive pip balance after unhedging and at re-entry point.
wave52 in this internal structure could have retraced on following levels starting @ 38.2, 50, 61.8 and even higher as you will note with the ticked levels.
2nd part re-entry was @ 50% level. 1st was @ 38.2
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
update0831 GMT
Currently under a drawdown with the short position.
However, this is stilla hedge for my long positions.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94014&stc=1&thumb=1&d=1205196976 http://www.forexfactory.com/attachment.php?attachmentid=94015&stc=1&thumb=1&d=1205196976
__________________
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, Mar 10, 2008 10:24pm
http://www.forexfactory.com/images/buttons/quote.gif #2082
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 10, 2008 11:22pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif continuing the count
Limits have not yet been invalidated.
Hold on to your seats as this GBPJPY looks set to ride the SHORT wave down. Leaving my short trades to ride till I see a potential wave 4 pull back or will trade the lower or higher TF looking for a potential Impulse wave end.
To be validated by a wave 2 pull back or a wave B pull back.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94040&stc=1&thumb=1&d=1205205637 http://www.forexfactory.com/attachment.php?attachmentid=94041&stc=1&thumb=1&d=1205205637
__________________
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
Mar 11, 2008 2:44am
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Here cad and aud. On euro lately.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94072&stc=1&thumb=1&d=1205217830 http://www.forexfactory.com/attachment.php?attachmentid=94073&stc=1&thumb=1&d=1205217830
http://www.forexfactory.com/images/buttons/quote.gif #2089
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 11, 2008 7:20am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif
GBPUSD
May soon reverse. waiting for the cross of Tenkan sen and Kijun sen and a signal from the stochastic oscillator cross back.
GBPJPY
Still looking for some move up. Positions were on a hedge from near the bottom. This is the problem/dilemna when I leave my trades to run. But hedging the wrong trade positions causes a temporary drawdown. The movement can be large as this was ( about 140 pips ). However, net loss was actually Zero as the positions were equally hedged.
If it went my way, Then we would have profited earlier. As it is ...... we suffered a temporary drawdown.
I think this is important to our OR my Psychological well being. We should not fear these large moves. What is important is we do our homework in analizing the charts and incase we do miss the actual direction of the trade, we need to learn when to hedge them and for how long and till which level.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
PS... Both Pairs would have give nice long trades on the 5minute charts using Ichimoku.
Chikou span crossing price while Tenkan-sen and Kijun-sen crossed and above the Kumo Cloud.
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94137&stc=1&thumb=1&d=1205234332
Attached Imageshttp://www.forexfactory.com/attachment.php?attachmentid=94138&stc=1&d=1205234332
__________________
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
Mar 11, 2008 11:53am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif
My apologies to all those who have been disappointed with the Ichimoku charts. They may seem out of place in this thread.
But like other elliotticians, some also use various technical indicators to validate their wave counts or points of reversal.
I have been studying multiple strategies and systems along side my wave counts. So I have somehow gotten a feel for how some pairs react to a specific technical indicator.
And lately, I have been using Ichimoku charts. I must admit that this set up has somehow combined various strategies within its system.
The Tenkan-sen and Kijun-sen cross signals some how are analogous to MA cross signals. and where it happens like above, within or below the Kumo cloud can be related to like MA cross signals happening above or below 50ema or 100sma for example.
Then there is the Chikou span. Its crossing the price bars or candlesticks at the same time or after Tenkan-sen and Kijun-sen have crossed gives a nice signal to enter a trade specially if both crossings happen on the same side of the Kumo cloud.
You may ask... where do all this come into my Elliott Wave Analysis? Like the way I use the GMMA, The Trend Follower, Andrews Pitchfork and Schiffs Median Line, Pivots, Support and Resistance Levels, Trend Lines, Fibs, Patterns and a concoction of multiple technical indicators, They provide some form of an explanation where Price could probably be going. For me, I can trade naked with just the Fibs and stochastics but can only use it on Higher TF like 4hours at least. But that takes so long. I need various systems and indicators to help me get a feel of the market specially because I study and trade too the lower TFs.
I will not pretend to know a lot. That is probably why I need the technical indicators to provide or validate my EW counts. And so far it has lent to a quiet and profitable trading scenario. No need to Panic when a position goes against me. We some how know the potential of a mistake/miscalculation and hedging the trades properly help in maintaining calmness amidst a drawdown or before a drawdown.
Signals from different indicators somehow help in Identifying a price turn, a confirmation of a trend or provide signs of a ranging market. So do not be surprised to see charts with other strategies showing up in this thread.
Attaching charts for GBPUSD and GBPJPY which I have been trading this
week.
GBPJPY has a signal on the 5min chart. But I am not taking it now as I prefer to hold just hold mu current trades.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94217&stc=1&thumb=1&d=1205250129 http://www.forexfactory.com/attachment.php?attachmentid=94220&stc=1&thumb=1&d=1205250167
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2091
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 11, 2008 12:40pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
I would consider this as an Impulse move UP because w3 was projected as FE425.00. ABC Corrections can go up to as high as FE161.8 and rarely FE 261.8.
But in this case it was FE 425.0. I am more inclined to believe that this is a 5 wave move. At least that is how I see it now.
I might have to get ready to unload my remaining short even at a loss. Just have to find a strategic level. But will study the scenario first.
next chart is an alternative way to count which at this point I will follow for now.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
PS..... You can actually use the Chikou span (Lime) like a line graph where one can check their wave count based on the wave formation.
Also looks like a Cup formation on this one
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94241&stc=1&thumb=1&d=1205252975
Attached Imageshttp://www.forexfactory.com/attachment.php?attachmentid=94247&stc=1&d=1205253472
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2092
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 11, 2008 8:01pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
GBPJPY while I was sleeping.......
Looking at the 1st chart, that looks to have been the proper count instead of the 2nd one.
I guess I wanted the Pair to get back on the Bear trend refusing to acknowledge the fact that the projection went to as high as FE 425.00
I was focusing on the expectation that wave 5 will be truncated because of the very strong wave 3 that I noted. Also on the same chart, wave 4 is noted to have retraced wave 3 by 38.2%.
'Was hesitant to leave the trade before I hit the sack here because of the Stochastics. However, sleep was more important and besides, ny trades were hedged.
With the current scenario, this looks like price has made a 5 wave impulse wave. Though this has gone up a bit far, I would now think that based on An EW reference from RET, there is a possibility that wave 5 may also be extended OR be w5=w1 with the Lower Highs and Lower Lows
But definitely..... I think this will revisit or retrace this large UP Move. That is where I will decide to unhedge my Long Trades and exit my short trades.
In the meantime, it would be scalping time for me on this pair and the GBPUSD.
Remember that these trades I take have been "hedged my way" and not really using another's way of hedging trades. You can only do this with LOW LEVERAGE.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
PS. Throwing in more charts on Ichimoku together with EW. Notice how the Chikou span looks like the Line graph where you can have an idea how the waves are formed. So I use the Chikou span for its original use as a part signal when it crosses price bars or CS and as an automatic identifier of Potential chart formations like Head and shoulders patterns, triangles, flags....
I have labelled the candlesticks with the EW counts I now have and you will also notice I did the same thing on the Chikou span ( Lime line ).
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94316&stc=1&thumb=1&d=1205279729 http://www.forexfactory.com/attachment.php?attachmentid=94317&stc=1&thumb=1&d=1205279729 http://www.forexfactory.com/attachment.php?attachmentid=94318&stc=1&thumb=1&d=1205279748 http://www.forexfactory.com/attachment.php?attachmentid=94320&stc=1&thumb=1&d=1205280052
http://www.forexfactory.com/attachment.php?attachmentid=94321&stc=1&thumb=1&d=1205280277
__________________
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
Mar 11, 2008 8:14pm
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif GBPJPY
Before I leave....
Something to think about...
I just noticed the Previous Day's Price Range and seeing the Lower Highs and the Lower Lows.....
if this pair is in a correction now, it will retrace towards as near as it could get to the Low of the Previous Day.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
PS. Keep an eye on the Stochastics
A move down to the weekly Pivot for Potential A of a Zigzag then a bounce up towards the Daily Pivot as B then a bounce down to the Previous Days Low for C.
Profitable Trading To Everyone....
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94322&stc=1&thumb=1&d=1205280764
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif #2094
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 12, 2008 3:25am
http://www.forexfactory.com/nfs/avatar3774_3.gifbohebolo
Pattern Trader
Member Since Oct 2005
33 Posts
http://www.forexfactory.com/images/icons/icon5.gif
Dude, i'm confuse "reading" your chart... http://www.forexfactory.com/images/smilies/yim/confused.gif
if you can remove some object from that, i think it will be more "clear" http://www.forexfactory.com/images/smilies/peace.gif
http://www.forexfactory.com/images/buttons/quote.gif
#2095
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 12, 2008 3:37am
http://www.forexfactory.com/nfs/avatar63204_1.gifebooks
Member
Member Since Mar 2008
4 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Totally right, dude. a bit overwhelming...
__________________
Forex, {Link Removed}
http://www.forexfactory.com/images/buttons/quote.gif
#2096
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 12, 2008 3:49am
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Eur/jpy Low of yesterday I think is control level. Any ideas?
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94395&stc=1&thumb=1&d=1205308138
http://www.forexfactory.com/images/buttons/quote.gif
#2097
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 12, 2008 4:32am
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Euro possibly is going to move south
Wish profits
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94400&stc=1&thumb=1&d=1205310742
http://www.forexfactory.com/images/buttons/quote.gif
#2098
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 12, 2008 6:26am
Serega
Member
Member Since Jun 2007
162 Posts
http://www.forexfactory.com/images/icons/icon1.gif
Looks like we have on euro neither 2 nor b wave.
Thats badhttp://www.forexfactory.com/images/smilies/yim/sad.gif
http://www.forexfactory.com/images/buttons/quote.gif
#2099
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 12, 2008 7:22am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif
for Bohebolo and ebooks.....
I am not like the rest of the Elliotticians here as I know I am still far from being one. I do not use EW singly in my Price and Market analysis. And As I have mentioned before, I am an ambitious person trying to study the market using various strategies.
I do this single handed without any staff to monitor various strategies alongside my Wave counts. You can not imagine the amount of effort and time spent on it at the same time learning EW.
There are times I can squeeze time to remake and clean up my charts. But there will be a lot of times I just would not have time to do it.
Now the core of who I am is that I want to know and learn how this is done. So You will see me here writing about how I do my wave counts as this is no secret. It is also my intention to show newbies in particular that there are simple tools we can use to assist us in EW Counting. True, there may be rules to internalize and learn almost by heart. Infact, the first time I realize that, I told myself , how on earth will I ever remember all these rules enumerated in about 9-11 pages plus the books. But I think, I am starting to internalize them and I believe that constant use and application of these rules and guidelines will allow me to practice EW with greater confidence.
Now I must declare that this thread is not a signal provider. Far from being one. But this thread's purpose is to encourage others to see what and how EW is and how I do it. We may have different counts. But I was hoping to encourage others to post their counts so we can compare. However, very few are participating.
You will also notice that I often take tike to color code my fib retracements and FIB Extentions. this is to help identify Points or levels used and for which points and projections they refer to. If you missed to spot that, then I do not think my EW counts will be of value to you.
I want you to know how these counts are arrived at and not just provide them to you blindly. I want you to know why I labelled them as such so that if I missed a point or I used it wrongly, then you can tell me I am wrong and why.
So I must apologize to the 2 of you that I can not assure you I will always clean up my charts. There is more to these charts than just the EW counts.
Besides I am already too lazy to make new clean charts just to post here. You will see here the charts I use on my desktop.
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
__________________
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
http://www.forexfactory.com/images/buttons/quote.gif
#2100
http://www.forexfactory.com/images/statusicon/post_old.gif Mar 12, 2008 8:14am
el grande
Latagaw FOREX_ EWA
Member Since Nov 2006
http://www.forexfactory.com/images/misc/6kt.gif1,793 Posts
http://www.forexfactory.com/images/icons/icon1.gif
GBPJPY on m15
EGhttp://www.forexfactory.com/images/smilies/yim/happy.gif
Attached Thumbnailshttp://www.forexfactory.com/attachment.php?attachmentid=94466&stc=1&thumb=1&d=1205324005 http://www.forexfactory.com/attachment.php?attachmentid=94470&stc=1&thumb=1&d=1205324229
__________________
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