Short-Term.....Swing Trade (Set-Ups)

[bearprofits]

o

Why do you believe that the 3260ish low was the end of wave 4?

Just curious to your thoughts?

Bear

[bearprofits]

Waves

Your last trade you went long Cad @ 720 closing at 680 is a 40 pip loss.

[golhuntsleep]

I can't speak for o but it was almost exactly the 50% retrace 2860ish to 3680ish

[G550]

Looking at a couple of charts thought I would post my ideas. So here they are. Both are a 1H chart.

GBPJPY:

Looks like a zig zag with a C wave down where C will equal the length of A. If C comes in at the length of A then we should see 244.20. The 38 fib line of the move up 237.63 in June 7 comes in at 244.05 or so.

EURJPY:

Same thing as above. Looks like a zig zag correction with potentially C wave forming. If C equals A then we should see 164.51. The 50 fib line of the move up 162.26 on June 13 is 164.59.

So let's have it. Rip my analysis to shreds!!

Good luck all.

[MAXO]

Originally Posted by bearprofits

o

Why do you believe that the 3260ish low was the end of wave 4?

Just curious to your thoughts?

Bear

I don't know whether this is 4th wave but it is a corrective one definitelly. Corrective after impulsive - the next one should be impulsive. I concetrate my thoughts on the smaller time-frames.

Have a good trading!

[marketwavez]

Originally Posted by bearprofits

Waves

Your last trade you went long Cad @ 720 closing at 680 is a 40 pip loss.

hi Bear ....

-Haven't seen you for little bit there hope all is well

Here is the result - I have already posted it .....

Original Post ...

Click here read post # 940
http://www.moneytec.com/forums/f59/s...64/page94.htm

Long @ .0710
Exit @ .0697....................(-13 pips )
I closed out the trade because .....it broke a minor support line .

------------------------------------------------------------------
See the 2nd chart posted below -

[marketwavez]

Now this Canadian Dollar trade has not been stopped out

but I'm concerned about Risk to Reward
--------------------------------------------------------

Last week the Cian Dollar trade made 70 pips

--------------------------------------------------
- the problem with this week's new trade is it has now broken support
if price moves to 0680 the stopline the loss would be 80 pips

So last week- after a gain of 70 pips
a dip of 80 pips this week would wipe out last weeks gains
----------------------------------------------------------------
Why should I put myself throught that ?

You must think of Money Mangement when you trade
you must think of what you are Risking !

Understading this is more important than any wave-count !

It's the only way to Survrive !.....
-------------------------------------------------------------- .

[marketwavez]

Trading is about your Averages !
- Trading is about Money Mangement

Trading is about your ability to analyze Risk of individual trades
that you decide to take protecting your assets ..................

Its ok to get it wrong some times still have a good average !

------------------------------------------------------------ ----