Sniper Forex System

I just got a long entry alert on EUR/JPY H1 with a red arrow and both histograms red, did you guys get that as well?
 
I just re-entered the short at 1.6200, hit ema, so let's see it go down :)
 
Last edited:
new2fx said:
long entry on cable at 1.6277 tp 1.6325
Click to expand...

That moved quick :eek:

Actual entry to the long was signaled at 1.6233
I got in at 1.6239, but luckily I actually saw the Histo change.

Lost 10 pips on the short, but would have been 35 if I hadn't exited and then re-entered at a higher price.
 
I think we have around another 150 pips upside on the correction on GBPJPY. I am gonna go long a little late for around 75 pips. I will only be doing this on DEMO.
Kent
 
According to the EW wave counts for G/J the 5 waves down are complete and we have gone into the a-b-c correction. Wave A is complete, which leaves b and c. This pair almost always retraces to the 50% Fib and many times above it. The 4 hr chart will not be able to capture the correction until it is almost over. This pair almost always corrects to somewhere around the 50% fib of the previous 5 wave impulse. So it should have, from top to bottom of the correction, somewhere between 209 and 325 pips. It has moved 93 pips so far, and should have at a minimum of 100 pips left to go. I have my T/P at 75pips.
At the present time this trade is up 15 pips.

But, I could be wrong.
Kent
 
Hey sunny,
I just went long on another trade for a TP of 75. Should have enough upside to get it. entry was 152.53
Kent
 
sunnywan said:
congrats! cable is moving up alot slower :whistling
Click to expand...

Sunny,
It looks like wave 5 on GBPUSD truncated, or barely passed the bottom of wave 3, so the upside potential has already been reached at around the 38.2% fib line possibly. It could go alittle higher, but I wouldn't bet on it. If I had a long trade going right now that was in profit, I would take it. But, I could be wrong. Sniper has already signaled a short entry on the M15 and M30 TF. I would close the long position, if it was me.

Kent
 
dkarrington said:
Sunny,
It looks like wave 5 on GBPUSD truncated, or barely passed the bottom of wave 3, so the upside potential has already been reached at around the 38.2% fib line possibly. It could go alittle higher, but I wouldn't bet on it. If I had a long trade going right now that was in profit, I would take it. But, I could be wrong. Sniper has already signaled a short entry on the M15 and M30 TF. I would close the long position, if it was me.

Kent
Click to expand...

thanks. i won't hold you to it ;) got out break even.

i'll have to read up on this elliot wave stuff. what is the best resource to get a good overview without having to trail through heaps of stuff. or is there a single easy to understand book on the topic?
 
I went to the elliottwave.com website and signed up for the Elliot Wave Financial Forcast for $19 per month. The EWFF gives you a ton of info on a monthly basis. The will send you 2 hardback books, The Elliott Wave Principle and Conquer the Crash, for a total of like $28 total, the 9 extra covers the shipping of the books. Both books are a must read for traders, as far as I am concerned. Sniper will make you profitable, but combined with EW, it is awesome. There is alot of free stuff on the website, but several readings of the EWP will really help you. I know it has me. Read the EWP 1 time cover to cover, then reread the first 4 chapters as often as you can. Everytime helps you learn and remember more of the rules and guidelines. Someone that says the markets dont move in cycles really dont have a very good understanding of the market, or they are trying to get you to buy something else. I can see at some point, after I am much more confident, I will no longer need any "system" to trade profitably. I bought Sniper and it is a very good system, and I will continue to use it just for the very good entry's it provides.

Kent
 
FormulaOneFan said:
GBY/JPY is at 152.436 now. Thinking of going long. Any recommendations?
Click to expand...

I got on this one and made a quick profit of 30 pips. I'm leaving to Scotland (Edinburgh) for the bank holiday weekend so I had to close it and take profit and go now. Driving to Scotland from South East England. Going to be fun drive. Plan to stop over lake district (also drive via Ulls Water lake). Looking forward to the holiday.

As Kent predicted this blue wave looks good.

All have a great trading day and good weekend. I will see you all next tuesday.
 
FormulaOneFan said:
I got on this one and made a quick profit of 30 pips. I'm leaving to Scotland (Edinburgh) for the bank holiday weekend so I had to close it and take profit and go now. Driving to Scotland from South East England. Going to be fun drive. Plan to stop over lake district (also drive via Ulls Water lake). Looking forward to the holiday.

As Kent predicted this blue wave looks good.

All have a great trading day and good weekend. I will see you all next tuesday.
Click to expand...

Have great weeked, I just returned from London from a short business (and pleasure) trip... Back to trading again... (y)
 
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