Goldmine!

[FX4Newbies]

Now here's the story...the way I see it:

Definitely see some bullish sentiment, however, price did break the trendline on this chart.

Not satisfied that price will really take off...thinking it may fall some more. Just not sure. Also Euro news out at 4am EST.

Will be watching to see how it begins to move..

P.S. There was a quick bullish trade a little over an hour ago...oh well, there will be more

 

[FX4Newbies]

WL Target Hit!!

Well well,

Price did fall to WL as mentioned on earlier chart. Current view attached. I have a busy day, will post again...Pre-Asian. Observe that price never got to ML of lighter green (teal) fork...a definite sign of weakness.

Enjoy your trading day,

Now here's the story...the way I see it:

Definitely see some bullish sentiment, however, price did break the trendline on this chart.

Not satisfied that price will really take off...thinking it may fall some more. Just not sure. Also Euro news out at 4am EST.

Will be watching to see how it begins to move..

P.S. There was a quick bullish trade a little over an hour ago...oh well, there will be more

 

[4xpipcounter]

Re: Another Interesting Scenario

Dave, this is what makes these forums interesting. There is always good constructive dialogue. Maybe I am reading more into it than I should, but I disagree in theory with what both of you are saying.
First, let me clearly state I would never argue with a successful trader, but I can still disagree with, maybe the theory.
I don't want, need, or use different trading methods. I enjoy coming to this thread and reading the posts for FX4newbies, and I do naturally have a bias towards the Elliot Wave. But, it stops there. I don't use another methodology to confirm mine. I believe in mine, and I let it stand alone. I understand that a passive onlooker would go over to my thread and think, "My method needs help." And that's fine. The point is I still stand by my method with no peripheral support or confirmation.
I hope that came out the way I intended, without creating too many waves.

I couldn't agree more with those statements. Everyone is different and should learn and understand what they are using for trade setups. I am amazed at how simple and complex the markets are at the same time and how many tools arrive at the same conclusion, so definitely someone should find what they like and use that with other things for confirmation. Anyway, keep up the good work and good trading.

 

[FX4Newbies]

Re: Another Interesting Scenario

As always, thanks 4xpipcounter for your comments. It is not that the method I use can't stand alone but, as a trader, I choose to have confirmation. To me it's like driving a car with only a rear-view mirror. Side mirrors really are not necessary, but they come in handy for blindspots. I think any method will miss something somewhere at some time. I just try to minimize those occurences.

Glad you are very comfortable and confident with what you use. That is commendable. Let's just make money consistently with whatever we use and we're all good!

Take care,

Dave, this is what makes these forums interesting. There is always good constructive dialogue. Maybe I am reading more into it than I should, but I disagree in theory with what both of you are saying.
First, let me clearly state I would never argue with a successful trader, but I can still disagree with, maybe the theory.
I don't want, need, or use different trading methods. I enjoy coming to this thread and reading the posts for FX4newbies, and I do naturally have a bias towards the Elliot Wave. But, it stops there. I don't use another methodology to confirm mine. I believe in mine, and I let it stand alone. I understand that a passive onlooker would go over to my thread and think, "My method needs help." And that's fine. The point is I still stand by my method with no peripheral support or confirmation.
I hope that came out the way I intended, without creating too many waves.

 

[4xpipcounter]

Re: Another Interesting Scenario

Bottom line is in being a winning trader. This is also why I said that I would never argue with success. I got one guy that follows my thread that makes trades just on my recommendations. It's scary, but he is doing well. We do go back long before I ever got on this site. I even discourage people from just taking my word for it.
I am opinonated, but still very respectful. This is why I always make sure my comments do not come off derogitorily.
Continued success to you.

As always, thanks 4xpipcounter for your comments. It is not that the method I use can't stand alone but, as a trader, I choose to have confirmation. To me it's like driving a car with only a rear-view mirror. Side mirrors really are not necessary, but they come in handy for blindspots. I think any method will miss something somewhere at some time. I just try to minimize those occurences.

Glad you are very comfortable and confident with what you use. That is commendable. Let's just make money consistently with whatever we use and we're all good!

Take care,

 

[FX4Newbies]

Re: Another Interesting Scenario

You are so right! That is the bottom line and I saw that you expressed that in your earlier reply. In this business, you have to be strong and be an independent thinker...one might call that opinionated. But if something works well to you and for you, I think you have good reason to be "opinionated"...while remaining humble, which I believe you are from your much earlier posts. The market can quickly and easily humble a trader .

Take care, and continue to go forward.

Bottom line is in being a winning trader. This is also why I said that I would never argue with success. I got one guy that follows my thread that makes trades just on my recommendations. It's scary, but he is doing well. We do go back long before I ever got on this site. I even discourage people from just taking my word for it.
I am opinonated, but still very respectful. This is why I always make sure my comments do not come off derogitorily.
Continued success to you.

 

[FX4Newbies]

Pre-Asian Session June 22

Hello again Traders,

Hope you had a successful day if you traded. Attached is the chart as it stands. Not much action for a few hours.

I will not be in a hurry to jump in...price has been falling but is trying to push back up...not too successful yet.

Wait for price to tell you something that you recognize before you put your $$$ on the line...my 2 1/2 cents .

Will check in for London Session,

 

[FX4Newbies]

Re: Another Interesting Scenario

Hello again 4xpipcounter,

I finally got a chance to briefly visit your thread. Seems like we have similar philosophies in the sense that you have blended a variety of indicators into your trading recipe: "I love the ichimoku cloud and the componnets associated with it. I also use the stochastics as a momentum indicator, the 200 MA, and I also have a proprietary set of S&R's that are dynamite."

Maybe it was the way thoughts were communicated, but I think that was what JahDave was saying. He probably combines a variety of tools to give him a different take on price. He may just use different ones. Glad to see we do agree, it's just a matter of our perspective and how we present it.

Keep on pressing!

Dave, this is what makes these forums interesting. There is always good constructive dialogue. Maybe I am reading more into it than I should, but I disagree in theory with what both of you are saying.
First, let me clearly state I would never argue with a successful trader, but I can still disagree with, maybe the theory.
I don't want, need, or use different trading methods. I enjoy coming to this thread and reading the posts for FX4newbies, and I do naturally have a bias towards the Elliot Wave. But, it stops there. I don't use another methodology to confirm mine. I believe in mine, and I let it stand alone. I understand that a passive onlooker would go over to my thread and think, "My method needs help." And that's fine. The point is I still stand by my method with no peripheral support or confirmation.
I hope that came out the way I intended, without creating too many waves.

 

[4xpipcounter]

Re: Another Interesting Scenario

I feel that is key to much of the happiness I have had during my life. I have a high-confidence level, speciafically in what w are talking about it is my trading methodology. It is because of it that I bank the quantity of pips on a consistent basis. OTOH, I am tickled to see the success of others, and I always want to keep my self in a position to teach and to be taught. I know the success that is bred in me, but I also know my limitations.
This is why I may disagree, but it still does not make me right, no matter how many pips I get.
This is also the reason for opinionation. I know I'm right, because my results tell me I'm right. Even though I am of intense belief that black is black and white is white, there is an exception to that rule here. Because I know I'm right, it does not make someone else wrong.
I know I'm getting philosophical, but in enunciating thought processes is how people get to know each other on the internet highway.

You are so right! That is the bottom line and I saw that you expressed that in your earlier reply. In this business, you have to be strong and be an independent thinker...one might call that opinionated. But if something works well to you and for you, I think you have good reason to be "opinionated"...while remaining humble, which I believe you are from your much earlier posts. The market can quickly and easily humble a trader .

Take care, and continue to go forward.

 

[FX4Newbies]

Just taking another look...

 

[FX4Newbies]

Re: Another Interesting Scenario

Successful traders master their method and themselves. Confidence, as you have so rightly said, is a big part of it. Having a reliable system and notconfidence to carry it out is a big challenge for some. Glad it is not a weakness of yours .

Keep on keepin' on,

I feel that is key to much of the happiness I have had during my life. I have a high-confidence level, speciafically in what w are talking about it is my trading methodology. It is because of it that I bank the quantity of pips on a consistent basis. OTOH, I am tickled to see the success of others, and I always want to keep my self in a position to teach and to be taught. I know the success that is bred in me, but I also know my limitations.
This is why I may disagree, but it still does not make me right, no matter how many pips I get.
This is also the reason for opinionation. I know I'm right, because my results tell me I'm right. Even though I am of intense belief that black is black and white is white, there is an exception to that rule here. Because I know I'm right, it does not make someone else wrong.
I know I'm getting philosophical, but in enunciating thought processes is how people get to know each other on the internet highway.

 

[4xpipcounter]

Re: Another Interesting Scenario

If I have ever had a mentor when I first started trading, it would be Max McKegg. I used to always call him "The Great One". I used to have a really good chat room. The people in it were very close. We were like family. Whenever I mentioned "The Great One", everyone knew who he is. I did get him some business, which he greatly deserves.
Anyway, my point is (I'm not very good at a few words.) Max was the master of the Elliot Wave analysis. He had daily, MT, and LT analysis, and he could spot reversals on a dime. He was uncanny. Since those days of so closely follwoing his analysis, I have always had the highest respect for anyone that has mastered the Elliot Wave. Another thing I have noticed is that, in looking throgh the eyes of the EW it produces similar results as the totality of my personally developed system. Just compare Dave's forecasts to mine.
I know he has put in coniderable time in studying it. If he becomes another Max McKegg ,EW will be all he will ever need.
Also the various indicators in my methodology produces the harmony of my system. They flow together and form a perfect synthesis. I don't know hardly a trader that trades using only one indicator. But, the collaborative effort needs to form harmony.
There are some that use only the ichimoku cloud. That trader would be limited on the production of signals he wold receive, but it can be done. I like to use it in conjunction with my other indicators, because together I have more optimal entries, such as the long I'm going to bank on the EUR/CHF today.

Hello again 4xpipcounter,

I finally got a chance to briefly visit your thread. Seems like we have similar philosophies in the sense that you have blended a variety of indicators into your trading recipe: "I love the ichimoku cloud and the componnets associated with it. I also use the stochastics as a momentum indicator, the 200 MA, and I also have a proprietary set of S&R's that are dynamite."

Maybe it was the way thoughts were communicated, but I think that was what JahDave was saying. He probably combines a variety of tools to give him a different take on price. He may just use different ones. Glad to see we do agree, it's just a matter of our perspective and how we present it.

Keep on pressing!

 

[JahDave]

Re: Another Interesting Scenario

Dave, this is what makes these forums interesting. There is always good constructive dialogue. Maybe I am reading more into it than I should, but I disagree in theory with what both of you are saying.
First, let me clearly state I would never argue with a successful trader, but I can still disagree with, maybe the theory.
I don't want, need, or use different trading methods. I enjoy coming to this thread and reading the posts for FX4newbies, and I do naturally have a bias towards the Elliot Wave. But, it stops there. I don't use another methodology to confirm mine. I believe in mine, and I let it stand alone. I understand that a passive onlooker would go over to my thread and think, "My method needs help." And that's fine. The point is I still stand by my method with no peripheral support or confirmation.
I hope that came out the way I intended, without creating too many waves.

Hey Pipcounter.
It's all good with me. I think your thread and newbies thread are the best 2 on here and I would not respect someone who always agreed with me and never had dissenting opinions and ideas. I like learning as much as I can about different trading methods and technical studies, but I am in the camp with newbies because I like using multiple indicators.

 

[4xpipcounter]

Re: Another Interesting Scenario

I was addressing trading from multiple methodololgies, and not having your own that you fully trust. I use multiple indicators, but they make up the entirety of my methodology.
Another words like you and FX newbies, I enjoy reading other methodologies, but I don't use them to base a trading decision on.
BTW, this question might be more appropriate for your thread, or you cna even post your answer on mine if you want. I'm curious. If you have time, can you tell me what the EUR/CHF looks like throguh the eyes of EW. I just went long and I have 1.3754 on my radar.
Also, I am still waiting for the foreworks to go off on the EUR/AUD. That is going to be Huge!!!

Hey Pipcounter.
It's all good with me. I think your thread and newbies thread are the best 2 on here and I would not respect someone who always agreed with me and never had dissenting opinions and ideas. I like learning as much as I can about different trading methods and technical studies, but I am in the camp with newbies because I like using multiple indicators.

 

[FX4Newbies]

Your Eur-Chf Question

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,

I was addressing trading from multiple methodololgies, and not having your own that you fully trust. I use multiple indicators, but they make up the entirety of my methodology.
Another words like you and FX newbies, I enjoy reading other methodologies, but I don't use them to base a trading decision on.
BTW, this question might be more appropriate for your thread, or you cna even post your answer on mine if you want. I'm curious. If you have time, can you tell me what the EUR/CHF looks like throguh the eyes of EW. I just went long and I have 1.3754 on my radar.
Also, I am still waiting for the foreworks to go off on the EUR/AUD. That is going to be Huge!!!

 

[FX4Newbies]

Did Price Change Direction?

Hello again,

Just noticed a minor adjustment in price's location to the fork lines. Do you see the shift from the black fork to the teal fork? Could mean alot...only time will tell.

Added notes on chart...bottom right.

That's it for now until something concrete begins to happen.

 

[4xpipcounter]

Re: Your Eur-Chf Question

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.

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]

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.

 

[FX4Newbies]

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,

 

[FX4Newbies]

Preview of Asian Session

Hello Traders,

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

Be careful and follow your rules.