Elliott Wave Forex Scalping

JahDave

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• Dec 13, 2010

• #1

I am starting a thread for Elliott Wave Forex Scalping. I will be posting my one and five minute charts with Elliott Wave analysis including a modified stochastic indicator and a fractal indicator. I am trading this thread with Oanda because they have a .9 pip spread on the EUR_USD and I can make more pips with them. Anyway here goes my first one............. The EUR_USD just made a nice triangle and has almost completed a move down from there. A triangle is always the next to the last pattern in Elliott Wave analysis. The 1.3170 area will be a very good place to get into a long position. I will not be suggesting exits here, because I tend to get out too early, but I am getting 90 plus percent of positive trades, even though they are small gains.

 

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JahDave

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• Dec 13, 2010

• #2

JahDave said:

I am starting a thread for Elliott Wave Forex Scalping. I will be posting my one and five minute charts with Elliott Wave analysis including a modified stochastic indicator and a fractal indicator. I am trading this thread with Oanda because they have a .9 pip spread on the EUR_USD and I can make more pips with them. Anyway here goes my first one............. The EUR_USD just made a nice triangle and has almost completed a move down from there. A triangle is always the next to the last pattern in Elliott Wave analysis. The 1.3170 area will be a very good place to get into a long position. I will not be suggesting exits here, because I tend to get out too early, but I am getting 90 plus percent of positive trades, even though they are small gains.

Click to expand...

Here is a longer 5 minute chart with EW labels....

 

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JahDave

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• Dec 13, 2010

• #3

According to Elliott Wave then this should go down below 1.3163. Since this pair doesn't really have much momentum down then it should have a sharp move up after this. Also in Elliott Wave theory, the shorter the charts then the less reliable it is, but I have been studying Elliott Wave Theory for 4 years now and I can spot fairly reliable patterns on the 10 second charts

 

JahDave

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• Dec 13, 2010

• #4

Here is the EUR 5 minute chart and the fractal is giving a buy signal...

 

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JahDave

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• Dec 13, 2010

• #5

Just closed a short for .05%...... Waiting to go long now....

 

JahDave

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• Dec 13, 2010

• #6

I just sold it one more time, before buying it.........

 

JahDave

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• Dec 13, 2010

• #7

This should go down below 1.3163 before going back up........

 

JahDave

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• Dec 13, 2010

• #8

There is another move down......................Heading to the 1.3163...Maybe.......

 

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JahDave

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• Dec 13, 2010

• #9

My short is getting some pips right now.

 

JahDave

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• Dec 13, 2010

• #10

Took the profit at .06%

 

JahDave

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• Dec 13, 2010

• #11

I know my rules said I will get more, but I got out with a nice profit for 5 minutes...

 

JahDave

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• Dec 13, 2010

• #12

Here is the 5 minute chart that is still going down. I am waiting now to buy at around the 1.3165 level.

 

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JahDave

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• Dec 13, 2010

• #13

I just bought it because it is going higher before going below the 1.3163 level...

 

JahDave

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• Dec 13, 2010

• #14

If it breaks the 1.3175 level then I am wrong and it will continue to go down.

 

JahDave

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• Dec 13, 2010

• #15

The one minute charts say buy...

 

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JahDave

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• Dec 13, 2010

• #16

Anyone can post in my thread, but please keep it short term Elliott Wave related....

 

JahDave

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• Dec 13, 2010

• #17

Just closed another positive trade. Only .02% but still positive...

 

JahDave

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• Dec 13, 2010

• #18

Still looking for that 1.3163 level to be hit before the Euro makes a nice run up...

 

JahDave

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• Dec 13, 2010

• #19

I just sold the Euro for the last time before looking for a long entry...

 

JahDave

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• Dec 13, 2010

• #20

Here is the Euro 5 minute at the moment,,,,,,,,,, Showing a technical sell...

 

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