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

[ecology10]

No chart Man?
Anyways for people who want some more info on Aden Rusdeldt ->easytrading.biz here are some mixed review (here) He himself has replied on it, so he acknowledges the place.

Personally, I would rather lose that money in FX than buy the course. But thats just me.

[marketwavez]

Originally Posted by ecology10

Not really!!

By the way good call on the USD/CHF on 3rd Jan 07 #321, whats your target for the corrective wave A 1.24 or 1.23 (your usdchf 2hr chart post#394)
Or is there a bearish view, of the first wave down?

-Personally I think in the long run (2-3mo) I see 2.00, -in your words only a probability, not cast in stone.

Here is the Us Dollar..... that you asked about .

I'm not sure what you mean by you see (2-3 months ) 2.00 in your post above .
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- Looks like it's moving towards a wave " A " high - ( Longer Term )

[ecology10]

Originally Posted by marketwavez

Here is the Us Dollar..... that you asked about .

- Looks like it's moving towards a wave " A " high

Interesting Chart MarketWavez, -A failed 5th wave and a double bottom formation. Does this infer to a **reversal, instead of wave A (corrective wave of the 5 wave move down). Or a continuation from Wave A (1.2600) to Wave B lower to --(1.24-1.23). And a wave C up to ultimately resume the downtrend.

**Instead of wave A (corrective wave of the 5 wave move down). Could it be Wave 1 (beginning of the a new uptrend)?
Just Curious on your thoughts.

Thanks

[marketwavez]

Turning my attention to the Euro here

Eur/Usd

Here is a Probable wave count

1.3000 Looks like a Resitance area

Maybe we are nearing a " Wave 4 " Top of some kind ?............

[ecology10]

I am no elliottician, however this is my take on EURUSD for the week,
I am bullish, oscillators moving upward. And EURUSD sitting on 100SMA on 1day chart. T1 around 1.31-1.32. Watch IFO Report on Thursday.

Hourly Range
Resistance:1.3020
Support: 1.2912

*Marketwavez, I consider you wise trader than me (technical -Elliot wave theory specifically). I am just trying to learn.
Thanks for posting on this forum.

[marketwavez]

Eecology

Anyone reading through these posts should know that
I always say that there is always more than wave-count .

Elliott Waves like any other form of technical analysis is Highly Subjective .

Nothing is 100% Reliable - Nothing is cast in stone !
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There is no such thing as the right wave count

ALL WE HAVE IS PROBABILITY---

Wave counts Vary from person to person because
We all don't see the world the same way !
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Successfull trading is also about your Education ,
- and what you are exposed to as a trader ........................

How many times must I say this - ( It's been a year now )
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Trading is about your ability to manage the Risk
and Protecting your Assets in any trade that you decide to take ! ..........

No matter what you you think the Wave count is ....

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Why is so hard for people to understand that the
chart patterns or the wave-count are secondary to this ?

Understanding Risk to Reward and not over-extending yourself
on any one individual trade is much more important wondering
about who has the right wave -count .....

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Bottom line is
Don't get caught in wave-counts
there is no such thing as the right wave count

There is always another point of view .........

[ecology10]

Hey Hey Hey, I am not trying to criticize you or anything.I was just curious about your thoughts and wanted to follow-up on your USDCHF trade, which you nailed it.
I think CHF is weak, however my technical analysis tells the pair is overbought. So I was interested in your view.
Please do not feel insecure, I am just here, because I like what you have to offer -a perceptive, I like.

[marketwavez]

I didn't get to post this trade on time -
had to step out ..................
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Eur/Usd

Today ,the Euro
moved towards the end of a Wave " C " formation.....
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(See wave- count below )