FX Ellioticians

[throughthemud 10]

Good work. I was hoping to add to my position during the 3rd wave but I felt like I might be getting over confident and stopped myself. I got 780 pips of that with my normal position size. One of my best plays yet. It's nice to have someone doing this with me now.

 

I opened a buy position (1/2 my normal position size) on the euro and set my stop 1.4240 and limit at 1.4580. I'm going to double my position size if we get a strong break of the 3rd wave trendline.

[throughthemud 10]

Here's a chart of a trendline from the terminus of wave 1 to terminus of wave 3. The parallel line from the terminus of wave 2 puts the end of wave 4 approximately 1.4580 early Thursday. I don't normally use this technique because I don't think it is very accurate but it matches with my other expectations so we'll see how it plays out.

[VILLAFILLER 10]

TMT,

 

I was taking a look at € today...At the moment my prefered count is like this (seems to be in line with you ... I just need some more time to narrow down/confirm my retrace target)

 

Seeing as I don't have the stomach for taking a position for the correction and watching it go in and out of the money for the next week I'll post an alert on the chart when it breaks 14430 or 14240 to take another look.

 

If nothing else happens...speak after the holidays...have a good one

 

VR

[throughthemud 10]

Good call. I was feeling less confident after the wave down the started at 0800 yesterday. It appeared to be 5 waves and I think it should have only been 3 if that is the triangle I was expecting. So I exited at a small profit this morning. I have a small short position with a tight stop and I have an long entry set at about 1.4380.

[VILLAFILLER 10]

I meant to say ...great job on the 780pts...just looked at the € chart with the new low and I'm definitely going to have to wait for things to work themselves out before jumping in...Christmas with the family instead of having the cell receiving alerts all the time!

[VILLAFILLER 10]

TMT,

 

I lied ! - Took another look tonight...

... between 14395/14415

 

Got a 38% retracement on my count down from 14661

previous wave 4 level

162% of (a) off bottom of an expanded (b)

alternation of the corrections on my 5-wave c

plus a big figure

 

Left an order...not going to be there if it hits to check momentum but happy to take a 20pt punt for a 200pt swing

 

VR

[throughthemud 10]

I knew you couldn't stay away lol! I bought in a normal position size this morning and then my entry order was triggered on the break of the trend channel so I have a large position with an average buy in of ~1.4268.

 

The reason why I entered this position is because I believe the entire wave (1) is complete. The last waves down have the look of 5th of 5th waves. I'm pretty sure 5th of 5th waves is the only time they do strange things like that. Also as we were both counting the waves before wave i (circle) of wave 3 was bigger than wave 1. I don't think a wave of an extension can ever be bigger than a wave of the higher degree so we were probably wrong and that was the entirety of wave 3.

 

I'm now planning on holding my long position until 1.4860 until further information is revealed.

[throughthemud 10]

Here is my current count and what I'm looking at for the beginning of next week. I think wave b (circle) is currently in progress but it will probably end fairly soon. I'm not currently in a position but I'm looking for the wave b (circle) to end at about 1.4250 - 1.4260 and I will stay long until I see a large 5 wave movement unfold.

 

I have also included a chart of an alternate interpretation that has wave b (circle) forming a triangle. This would mean the wave would more likely end at about 1.4220.

 

The correction is not over if this wave is wave 1. The only way it could be over is if it was wave iv (circle). I think this option has a pretty low probability.

[marketwavez 10]

Eur/Usd

 

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Long Term View

 

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[marketwavez 10]

Eur/Usd

 

Short-Term views .........

 

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Double Bottom Formation

[marketwavez 10]

Eur/Usd

 

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End of Wave 3 Rally

 

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[throughthemud 10]

Marketwavez,

 

Please post explanation and current market levels. What you have posted can be seen as predictive but when you post what everyone already knows has happened instead of your forecast it's not seen as genuine and I would prefer it wasn't in this thread.

[marketwavez 10]

Tthe markets are closed ,,,its the New Year Holliday ........

 

i've just signed up just now and am just testing how to post a chart

 

These Euro charts are from Wen-Thurs , 3 days ago which was the last trading day of the year

and the markets are now closed ,,,,,, they will not open again until next week

so i'm now waiting for the markets to open again to post some new charts , please be patient

///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////

Edited January 3, 2010 by marketwavez

[throughthemud 10]

Look at the charts I posted before yours then look at your charts... my charts have current market data from the close on thursday and none of yours do. that is what i'm asking for along with text

[marketwavez 10]

Look at the charts I posted before yours then look at your charts... my charts have current market data from the close on thursday and none of yours do. that is what i'm asking for along with text

again , im waiting for the market to open next week , its News Years Holliday right now , the markets are closed

 

i just signed up in here a few hrs ago and was testing how to post a chart

Edited January 3, 2010 by marketwavez

[marketwavez 10]

Eur/Usd

 

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Mid Term Wave-count

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This is the chart i'm working with when the market re-opens next week

 

This market appears to have bottomed out at an End of Wave A

 

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Edited January 3, 2010 by marketwavez

[marketwavez 10]

Eur/Usd

 

ok , the markets still haven opened yet ,,,,, -but the Asian session has

 

Here's another view going into tomorrow's open

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Edited January 4, 2010 by marketwavez

[marketwavez 10]

Nzd/Usd

 

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just got in on this as is i make this post .....

 

 

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Closing the Gap

 

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Edited January 4, 2010 by marketwavez

[throughthemud 10]

marketwavez,

 

On your euro charts I've noticed that you have mixed degrees of waves on your count. The black and light gray numbers are mixed between two different degrees which has messed up your count for the blue numbers. Waves of smaller degree generally shouldn't be larger than waves of a larger degree.

 

In your midterm chart of the euro what makes you think this is an A wave when you take the entire trend in perspective? It looks like a 5 wave pattern following a 3 wave pattern to me. At best it would be an A wave of much larger degree but taking into account the previous wave it cannot be a 3rd wave.

 

Last thing I'm wondering how you got your target (1.4510) on your latest euro chart.

[marketwavez 10]

marketwavez,

 

On your euro charts I've noticed that you have mixed degrees of waves on your count. The black and light gray numbers are mixed between two different degrees which has messed up your count for the blue numbers. Waves of smaller degree generally shouldn't be larger than waves of a larger degree.

 

In your midterm chart of the euro what makes you think this is an A wave when you take the entire trend in perspective? It looks like a 5 wave pattern following a 3 wave pattern to me. At best it would be an A wave of much larger degree but taking into account the previous wave it cannot be a 3rd wave.

 

Last thing I'm wondering how you got your target (1.4510) on your latest euro chart.

 

Eur/Usd

 

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Mid Term Wave-count

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This is the chart i'm working with when the market re-opens next week

 

This market appears to have bottomed out at an End of Wave A

 

 

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The End of Wave A chart is the main chart i'm using ---- Ive already explained that early on in the post above

 

The End of Wave 3 charts is only my alternate count

 

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Target --- see these charts below

Edited January 4, 2010 by marketwavez

[thalestrader 14]

I've got news for you - if buyers are buying and sellers are selling, the market is open.

 

ok , the markets still haven opened yet ,,,,, -but the Asian session has

 

Here's another view going into tomorrow's open

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Best Wishes.

 

Thales

[throughthemud 10]

Marketwavez,

Please start your own thread and stop posting in this one since you won't provide explanation or answer criticism. I can only see your posts harming people interested in the wave principle. This thread is about sharing and learning from each other not seeing how many numbers you can fit on a chart or how fast you can post charts.

[throughthemud 10]

A 5 wave pattern has developed for a possibly complete wave c. It went up faster than I thought which makes me doubt it is the first wave of wave c but I'm still trading as if it was because RSI-7 on the daily chart is just above 50 and I think it should hit 70 before the resumption of the downtrend. I'll be watching this play out as I'm not completely confident in what I'm seeing.

[marketwavez 10]

as i've already explained ,,,,,,,,,

 

 

the Euro appears to be at an End of Wave A low

 

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Here is the results of both calls

 

The Eur/Usd has just reached its target of 4510

 

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The Nzd /Usd has aslo reached its target ( Gap is now closed )

 

Long @ 7240 ------ both targets reached

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( See charts Below )

Edited January 5, 2010 by marketwavez

[marketwavez 10]

throughthemud

 

yesterday ,,,,, you asked how did i come up with target

i immediately posted this chart , to answre your question

 

here it is again ,

 

 

here is the chart that explains how i got the target of 4510

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see the Fibonacci lines in this chart

Edited January 5, 2010 by marketwavez