Elliott Wave EUR/USD

This is a discussion on Elliott Wave EUR/USD within the Trading Journals forums, part of the Reception category; Originally Posted by JahDave Here's a quick update on the Kiwi. I just sold it and think it should be ...

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Old Aug 18, 2010, 4:34pm   #196
 
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Re: Elliott Wave EUR/USD

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Here's a quick update on the Kiwi. I just sold it and think it should be good for 75 or 100 pips.
Another Kiwi update. I just closed for +25 looking for a bounce and then another short entry.
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Old Aug 18, 2010, 4:49pm   #197
 
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Re: Elliott Wave EUR/USD

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There's one that worked out. But there is a good lesson to be learned here. After messing up the jpy trade so bad the other day then I played this too conservative and put my limit in at 1.4280 because I was still a little scared of messing up again. Anyway I woke up with +70 pips banked but if I had of gone with my analysis this trade would have banked 100 pips.
It looks like the EUR_AUD has completed the larger A wave and is starting the smaller c wave of the larger B. Bottom line is if it gets back down to the 1.4260 I'm buying it again with a tp at the 1.4350
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Old Aug 18, 2010, 4:58pm   #198
 
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Re: Elliott Wave EUR/USD

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Another Kiwi update. I just closed for +25 looking for a bounce and then another short entry.
The Kiwi is getting the bounce. I have placed an if done order to enter a short at .7174
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Old Aug 18, 2010, 6:09pm   #199
 
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Re: Elliott Wave EUR/USD

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The Kiwi is getting the bounce. I have placed an if done order to enter a short at .7174
Just went short at .7168. I wasn't sure it could eek out that last 6 pips.
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Old Aug 18, 2010, 6:11pm   #200
 
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Re: Elliott Wave EUR/USD

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Just went short at .7168. I wasn't sure it could eek out that last 6 pips.
I must learn more patience. It went exactly to .7174
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Old Aug 18, 2010, 6:19pm   #201
 
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Re: Elliott Wave EUR/USD

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I must learn more patience. It went exactly to .7174
The result of that is I just cost myself 12 pips. 6 up and 6 back down, so that is a fine example of charting and a poor example of discipline in trading.
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Old Aug 18, 2010, 6:21pm   #202
 
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Re: Elliott Wave EUR/USD

JahDave started this thread My target for exit is the .7118 for a 50 pip profit.
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Old Aug 18, 2010, 6:34pm   #203
 
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Re: Elliott Wave EUR/USD

Dave, the six pips will be unnoticeable when you cash in your 50. OTOH, I'm not much of a perfectionist. I just like to get in.
I just went short the GBP/NZD. It should be good for +131.


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The result of that is I just cost myself 12 pips. 6 up and 6 back down, so that is a fine example of charting and a poor example of discipline in trading.
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Old Aug 18, 2010, 6:38pm   #204
 
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Re: Elliott Wave EUR/USD

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Dave, the six pips will be unnoticeable when you cash in your 50. OTOH, I'm not much of a perfectionist. I just like to get in.
I just went short the GBP/NZD. It should be good for +131.
I'm just making that point so that hopefully it will be of help to myself and others to be more disciplined.
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Old Aug 18, 2010, 6:44pm   #205
 
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Re: Elliott Wave EUR/USD

I know what you are saying. In spite of me having more of the attitude to just jump in, I was asking myself, "Why didn't I just make the plunge on the hedge on cable at 1.5884?" Oh no! I had to wade it out. Now, I'm still looking for an entry. I got to hope I get a pullback during Tokyo.
In my opinion, the base has been formed as we are headed to 1.5734, at least.

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I'm just making that point so that hopefully it will be of help to myself and others to be more disciplined.
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Old Aug 18, 2010, 7:03pm   #206
 
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Re: Elliott Wave EUR/USD

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I know what you are saying. In spite of me having more of the attitude to just jump in, I was asking myself, "Why didn't I just make the plunge on the hedge on cable at 1.5884?" Oh no! I had to wade it out. Now, I'm still looking for an entry. I got to hope I get a pullback during Tokyo.
In my opinion, the base has been formed as we are headed to 1.5734, at least.
Well the first leg down of everything took about 4.5 hours and now we have had our bounce and just beginning the final leg down I think. So that means about 6:30 pm EST would be a good time to enter a euro long if wave A and C are equal in length. Usually wave C is longer than A so if it is 38% longer then around 8 pm EST would be a good time to enter a long. Of course a currency pair can always get stuck in consolidation and take forever to move.
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Old Aug 18, 2010, 7:08pm   #207
 
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Re: Elliott Wave EUR/USD

Especially in the correction of a strong trend.

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Well the first leg down of everything took about 4.5 hours and now we have had our bounce and just beginning the final leg down I think. So that means about 6:30 pm EST would be a good time to enter a euro long if wave A and C are equal in length. Usually wave C is longer than A so if it is 38% longer then around 8 pm EST would be a good time to enter a long. Of course a currency pair can always get stuck in consolidation and take forever to move.
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Old Aug 18, 2010, 8:04pm   #208
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Based on wave structure I think the Kiwi is going to make a flat and therefore I am looking to close my trade at .7145 and wait for the move up to short one more time.
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Old Aug 18, 2010, 8:16pm   #209
 
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Re: Elliott Wave EUR/USD

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Based on wave structure I think the Kiwi is going to make a flat and therefore I am looking to close my trade at .7145 and wait for the move up to short one more time.
OK I'm out for +20 pips and just couldn't stand the temptation to get in going back up. That is a pretty risky move because even though the wave structure is pointing to a flat that still doesn't mean that wave 2 won't extend down.
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Old Aug 18, 2010, 8:21pm   #210
 
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Re: Elliott Wave EUR/USD

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OK I'm out for +20 pips and just couldn't stand the temptation to get in going back up. That is a pretty risky move because even though the wave structure is pointing to a flat that still doesn't mean that wave 2 won't extend down.
I should have said the B wave won't extend down instead of wave 2.
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