Sell Eur/Usd

[pelle64]

Yes shy thats right but i strongly believe that 4250 is the top of wave 3 on the daily shart (wave 4 on the w/m) so if i have done my job we are in the top of w 3 starting w 4 down - BUT offcourse i can be wrong :-)

Im hedge from 4255

Target as this time is open

[shayb]

by the way i am in that positions ,truly all indicators are overbought+E.W counting it should go down allthough the up move is soo strong and causing me loose confidence on those trades.........

hope the sallers will come......

HAVE A NICE WEEKEND
Shay

[pelle64]

Citat - Peter Wadkins

New York, September 28. Well it was a relatively safe bet in a risk- diminished month end, quarter end market that with enough firepower you could overcome the 1.4250 option defence. As Ralphy Boy used to say "Wham, boom to the moon"; 1.4267 paid in the price over run, which is being described by at least one shop as the "algo chop". The view of one seasoned veteran is that part of the characteristics of recent price action is due to the algorithms, "they have no fear, no emotion, they don't care if they pay a top it's just a number to them" was how the chief dealer of a large custodian bank described it.
So the barriers are dead. Long live the barriers - next stop for the ancient sport of barrier hunting, 1.4300, unless someone has sneaked in a 1.4275 strike that we haven't heard of. Hourly RSI at 82.3, daily at 80.5, weekly at 71.0, and monthly at 72.85 - Sell Mortimer, sell.

[golhuntsleep]

since some of you in here are begining to talk EW....let me ask you something......instead of trying to find the top and getting run over.......1 thing HAS to happen for a top to be formed.........ABC in the opposite direction......wait for A and B...or 1 and 2 of A's 5 wave sequence on a short term chart........trade the break of A's lowpoint for the rest of C....or 3 of A as it breaks below 1's low point......almost 100% possitive and alot better than getting run over.....if your going to trade EW...trade the best parts of EW.... it's when the waves reverse that they wave the flag to trade high % set ups.....Good luck to all........

[shayb]

Thanks for your advise gol, it is true i am a beginner on E.W(not on forex), but i am using it now only for learning this is not my basic tool, i did a mistake when i used Iris positions (nothing against you iris),i read his treads and i had trust on him, i lost confidence on the up trend when iris post his position (mistakes happen to be learne ).

by the way can you post E.W on GPB/USD (monthly,daly,4H) i want to check my self?

Thanks Alot
Shay

[golhuntsleep]

Shayb...I would like to, but people pay money to see my working charts and be taught by me (and others) if I make that info public, it would not be fair to them.....I'm more than willing to give a little advice, and you've never seen me trying to hawk my service so I have no alterior motive other than steer folks the right direction once in a while....good trading.......

[pelle64]

Shayb... dont think that u, me and Iris were the only seller yesterday a lot were possioned @ 4200 and there whas big barriers @ 4250 next level for strong res is 4300

The main target yesterday whas 4250 and we all expected that to hold but it didnt...

So what to do now??

I am short below 1.4300 and my 1:st target will be a test of sup 1.4196

[Summerset]

Originally Posted by pelle64

Yes shy thats right but i strongly believe that 4250 is the top of wave 3 on the daily shart (wave 4 on the w/m) so if i have done my job we are in the top of w 3 starting w 4 down - BUT offcourse i can be wrong :-)

You are correct. Price is in the 5^th wave on weekly.
Yr projections for a Fib retraction at 4250 are also correct.


This issue however, has a weekly breadth that could take it to 4300, 4374, & 4440- before reversal.


There is a protocol to Top picking. I have attached a very small, but very helpful extract from Victor Sperandeo's book " Methods of a Wall Street Master", that explain this protocol. If followed, it should place U in a very lucrative spot in the correction flat or zigzag that will mark the reversal of the current 5^th wave.


At the moment, this correction has not yet started, and so, to weather the current position – until the correction does start, I have also attached a "Trade Mgt Chart".


All the Best.


** Victor is a fundamental Trader. His book is an Excellent read, on defining the macro fundamentals that have presiding influence on yr trade, before one can move on to underlay the micro fundamentals that affect yr position during its projected time duration. This is really very important, and I find it lacking in this thread.

The book is available at John Wiley & Sons publishing house – Not with Amazon.

I will allow for a day or day & half for you to check out the extract, then will have it deleted, as I think it not correct to permanently post it in public without author's permission.

Extract file size is more than 1MB when zipped- so not accomodated in post, can mail U if appropriate.