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 4xpipcounter LOL. Would you expect anything different? Actually that was my WR1 talking. 1.2281 is the bottom ...

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Old Jul 7, 2010, 3:15am   #131
 
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Re: Elliott Wave EUR/USD

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Originally Posted by 4xpipcounter View Post
LOL. Would you expect anything different? Actually that was my WR1 talking. 1.2281 is the bottom of the cloud. 1.2782 is the top. If I remember right you got this move DOWN headed to somewhere above the bottom of my cloud, and according to your EW, you got it blowing the top of my cloud off.
I'm hope your readers are watching. That's a confluence of events. Dave's EW and Paul's IC & S&R's are agreeing.
I noticed yellowroses gave you a visit. I told her to check your thread out. We go back a long ways. A while ago, we were talking about wave counts and how they compare with what I brainwashed her with (LOL). After she gave me a visit I said, girl here's your chance. Be sure and address him properly. That's Sir EW.
I appreciate the accolades but I'm just a plain old country boy. LOL, as always thanks for dropping buy and giving some input. I see you're building a following over there. Good luck with that and just ignore the naysayers, they're not worth responding to.
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Old Jul 7, 2010, 3:35am   #132
 
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Re: Elliott Wave EUR/USD

I actually enjoy them. They try to repudiate something that they have no idea what they are messing with. They confirm what I'm doing, especailly when about 6 or 7 that follow my thread have been together for 3-5 years. We're a pretty close-knit bunch. They're just sitting back laughing or ready to find the nearest plane and give him a visit--lol. Zeph is the star. He cracks me up.
I've been in the country for 12 years after 41 years in Sacramento. I guess I'm still big city ay heart. I just don't know how to act like a hillbilly. But then, I'm not formal enough to go back to the big city.


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I appreciate the accolades but I'm just a plain old country boy. LOL, as always thanks for dropping buy and giving some input. I see you're building a following over there. Good luck with that and just ignore the naysayers, they're not worth responding to.
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Old Jul 8, 2010, 1:25am   #133
 
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Re: Elliott Wave EUR/USD

JahDave started this thread I am posting up a weekly Dow chart with my technical stuff underneath that I have tweeked. If anyone would have pulled their 401K money out of stocks when the sell arrow came up and bought stocks when the green buy arrow came back then they would have been far ahead of the game. The indicator is a modified stochastic set at 34, 13, 8 and also the arrows are a fractal indicator that I applied on top of the stochastic. I will say that it is very flexible and I do adjust the MA periods depending on what time frame I am on and whether I want a longer or shorter term trade. I mainly use this to help confirm when wave counts are ending. In my opinion you could only use this to trade and still be very profitable.
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Old Jul 8, 2010, 5:52am   #134
 
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Re: Elliott Wave EUR/USD

Dave, you answered part of my e-mail with regards to the indicators.
Don't those red and green dots lag? In other words, they are placed about 2 candles after the event.
It still has me tied in knots
I won't say where I got that from in an open forum.


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I am posting up a weekly Dow chart with my technical stuff underneath that I have tweeked. If anyone would have pulled their 401K money out of stocks when the sell arrow came up and bought stocks when the green buy arrow came back then they would have been far ahead of the game. The indicator is a modified stochastic set at 34, 13, 8 and also the arrows are a fractal indicator that I applied on top of the stochastic. I will say that it is very flexible and I do adjust the MA periods depending on what time frame I am on and whether I want a longer or shorter term trade. I mainly use this to help confirm when wave counts are ending. In my opinion you could only use this to trade and still be very profitable.
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Old Jul 8, 2010, 6:07am   #135
 
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Re: Elliott Wave EUR/USD

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Originally Posted by 4xpipcounter View Post
Dave, you answered part of my e-mail with regards to the indicators.
Don't those red and green dots lag? In other words, they are placed about 2 candles after the event.
It still has me tied in knots
I won't say where I got that from in an open forum.

The fractal signals do lag a bit here partly because I have the MA's set at 34,13, and 8. The signal gets much faster if you shorten the ma's on the modified stochastic but you get a lot more signals. I wouldn't use these settings unless I was taking a very long position for at least several months. I was using this example because if the average 401K person would just set up a chart like this then they would be much better off than 99% of the other long term investors
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Old Jul 8, 2010, 6:17am   #136
 
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Re: Elliott Wave EUR/USD

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Quote:
Originally Posted by 4xpipcounter View Post
Dave, you answered part of my e-mail with regards to the indicators.
Don't those red and green dots lag? In other words, they are placed about 2 candles after the event.
It still has me tied in knots
I won't say where I got that from in an open forum.
Also this is something new I'm trying out. I didn't like what I was getting at all from the default setings so I decided to do some tweeking. In my opinion if something lags just a little it's not the end of the world as long as it is reliable and you get most of the move. I'm pretty sure there is no perfect system out there, so I'll be pretty happy to be right almost all of the time. Also I wouldn't follow this alone. You know how much I believe and use EW and Fibo.
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Old Jul 8, 2010, 6:56am   #137
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Back on topic with the euro. I'm posting up the hourly euro chart and I left the green lines where they were from yesterday. I am more satisfied with the euro making it right to the 1.2700. I think this is a probable area for a nice pullback. Also everyone here always wants to know if anyone doing a thread is trading live so I have my entry stop and limit lines on my chart. If I see an almost completed wave count at the 38.2% level then I will take the money there and play the bounce up and then reshort, so don't be surprised if my buy sell lines move. There will probably be some sort of bounce there before going further down. And finally if there are other Elliotticians out there then see if you can tell what is wrong with the way I have the i, ii, iii, iv, v counted for the bigger C wave. The ending level should be right here around the 1.2700 so don't think I have a bad target, it's just that technically the count is not right, so if anyone else is learning elliott wave I don't want to mess you up. I can explain why it's wrong but it's gonna get lengthy and I'm not going to spend the time unless it will help someone else.
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Old Jul 8, 2010, 8:10pm   #138
 
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Re: Elliott Wave EUR/USD

Dave, I'm curious. Would you say through the eyes of EW that the recent move of the GBP/USD looks impulsive, and the reversal has finally started?
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Old Jul 9, 2010, 5:34pm   #139
 
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Re: Elliott Wave EUR/USD

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Originally Posted by 4xpipcounter View Post
Dave, I'm curious. Would you say through the eyes of EW that the recent move of the GBP/USD looks impulsive, and the reversal has finally started?
IMO, I am 99.9% certain that this wave structure on the EUR_USD and the GBP_USD and the AUD_USD is all corrective. It may be in 5's but they are all composed of of 3's and 7's of a smaller scale. That is what I was alluding to in my last post about my euro chart not being counted properly. I still think we are going to get a nice pullback like I've been saying (1.24 range euro),and then more upside.
I just got into Peurto Rico last night so I won't be posting much until I get back home next Wednesday. Have a great weekend everyone.

P.S. if you measure the first wave up on the pound and compare it to the last one then you will notice the last one is almost exactly 161.8% of the first one.
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Old Jul 16, 2010, 4:39am   #140
 
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Re: Elliott Wave EUR/USD

JahDave started this thread Well what can I say about the Euro other than it has had strong momentum behind it. It did make the drop after it hit 1.27 like I thought it would, but I was surprised it was such a small pullback. I really was expecting it to go down to 1.24 range or lower. I still think the 1.35 range is the highest probability area for this large correction to be over. On my shorter term chart I have one resistance and three fibo support lines drawn. The Euro should drop to one of these support lines before advancing to new highs. I think the charts are pretty clear, but please ask any questions.
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