Goldmine!

4xpipcounter · Jun 22, 2010, 11:52pm

I asked Dave a question, then he answered it in my thread. Amazing! His EW matches with my methdolology again. I got in on the EUR/CHF at 1.3586--3 points from the bottom (not including spread).
That's even 16 points under my WS1-- nowhere to go,but UP.

Quote:

Originally Posted by FX4Newbies

Exactly. I like seeing different approaches, but I know what works for me. Anyway, in reference to your question on EurChf...not a pair I trade. Also, I am not an Elliott Wave specialist (EW), just understand the principle of his theory. I drew a down-sloping fork and found that the price had just hit the ML, at which point anything can happen: consolidation, a turn upward or a bounce and then further downward movement. My other indicators seem to have mixed messages...an upward push from the 4hr and a possible downward move on the 1hr, which could mean a tug-of-war until somebody wins. If I were looking to trade this, I would wait for a more in sync entry...but that's just me...unless you are trying to scalp, which I don't think you are trying to do.

Take care,

FX4Newbies · Jun 23, 2010, 5:52am

Good Morning all,

Price made an attempt at the target, but didn't quite get there. If it fails to make the ML and breaks the L-MLH of green fork, it could be moving south again.

Only time will tell us.

FX4Newbies · Jun 23, 2010, 1:18pm

Hello traders,

Hope you made some money shorting the EurUsd earlier today. The entry is marked on the chart. The target would have been the ML. Was not available to post this morning.

Plan to post again just before Asian session begins.

Take care,

FX4Newbies · Jun 23, 2010, 8:36pm

Hello Traders,

Just sharing my thoughts...hopefully the market moves tonight.

Be careful and follow your rules.

FX4Newbies · Jun 24, 2010, 7:59am

Good Morning,

Looks like price is inching its way to the target. If it can find support at the U-MLH, then I believe the market will push it the rest of the way.

Good trading to you all.

FX4Newbies · Jun 24, 2010, 8:02am

Just another look from a different perspective. Sell-off could be news related...still seeing bullish sentiment. Will watch.

FX4Newbies · Jun 24, 2010, 8:03am

Price sold off...will be watching for market sentiment changes, if any.

FX4Newbies · Jun 24, 2010, 8:06am

Hello again,

Just posting an update...

Shorted the fall that started around 1.2340...got in way too late...didn't follow my rules . Took a 6 pip hit

. Looking to see if it is finally turning up.

NOTE: Trade was actually profitable, but I wanted more after entering late. Lost what I did have. Oh, the joys of trading.

Please see chart notes. Be watchful.

Take care,

Jun 23, 2010, 5:52am	#138
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Price Made An Attempt At The Target Good Morning all, Price made an attempt at the target, but didn't quite get there. If it fails to make the ML and breaks the L-MLH of green fork, it could be moving south again. Only time will tell us. Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 23, 2010, 1:18pm	#139
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Price Failed: ML Target Hit!! Hello traders, Hope you made some money shorting the EurUsd earlier today. The entry is marked on the chart. The target would have been the ML. Was not available to post this morning. Plan to post again just before Asian session begins. Take care, Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 23, 2010, 8:36pm	#140
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Preview of Asian Session Hello Traders, Just sharing my thoughts...hopefully the market moves tonight. Be careful and follow your rules. Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 24, 2010, 7:59am	#141
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Price Inching To Target Good Morning, Looks like price is inching its way to the target. If it can find support at the U-MLH, then I believe the market will push it the rest of the way. Good trading to you all. Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 24, 2010, 8:02am	#142
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Price Inching To Target: View 2 Just another look from a different perspective. Sell-off could be news related...still seeing bullish sentiment. Will watch. Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 24, 2010, 8:03am	#143
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Post 4AM EST Euro News Price sold off...will be watching for market sentiment changes, if any. Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 24, 2010, 8:06am	#144
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Turning Up After The News Hello again, Just posting an update... Shorted the fall that started around 1.2340...got in way too late...didn't follow my rules . Took a 6 pip hit . Looking to see if it is finally turning up. NOTE: Trade was actually profitable, but I wanted more after entering late. Lost what I did have. Oh, the joys of trading. Please see chart notes. Be watchful. Take care, Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up. Last edited by FX4Newbies; Jun 24, 2010 at 12:46pm.

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