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[fxsurfer]

I am going to start a new thread with my simple Elliot Wave trading system.
I am doing this so as not to clog up other threads and also as a personal diary where I can keep track of my charts, analysis and trades as I go. EW trading incorporates many other TA techniques such as trend lines, s+r levels, fib. levels, divergence etc etc. When trading EW, what I am looking for are the major waves, to trade these and to get about 50% of these moves (anywhere between 50-150 pips). As the thread progresses I will add my thoughts and the way I trade the waves so lets me begin.
PS: I am by no means an expert in EW's and am learning as I go, I have been doing this for 6 months and know that I have lots more to learn and that this thread would be a good way to continue advancing. Also my notation is not to EW standards and I hope to improve this as I go.

Entry#1 4Hr chart
End of european trading July 6.
Euro is in minute wave iv up of the larger 3 down. The previous wave iii bottom was at 1.1867 and wave iv has now corrected to 1951 but not cofirming this as the top yet a break below 1.1890 would confirm this wave iv and the start of wave v down to a target of 1.1830. Wave 4's are messy affairs at times and trade these only if you are a good scalper. Levels to watch are 1.1955 and 1.1900. In between here for scalpers only. Long above close of 1.1980 and short on close below 1.1890.
See Daily chart below and 4 hr chart in the next entry

[Mafioso]

Originally Posted by hoene003

But hey, everything can happen but what can't happen is a break of 1.2460.

I will quote u on this if u don't mind .

Good Luck

[marketwavez]

U.S. Dollar ..........Very Serious Situation .....Hone , Pay Attention !

US Dollar ..............

Here's a longer term view of the Us Dollar (Weekly Bars )

Base Building ? ...................

Not cast in stone !...................... Only a Probability !
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[peteuk]

Originally Posted by marketwavez

What are the Funny- Mentals saying ?

Seems traders are waiting for the mid-term elections results, why gamble?

[ecology10]

Originally Posted by peteuk

Seems traders are waiting for the mid-term elections results, why gamble?

Nothing worse than two opposite parties in the senate and the white house for the greenback ...

[peteuk]

Originally Posted by ecology10

Nothing worse than two opposite parties in the senate and the white house for the greenback ...

How about if the Democrats win both!

I read an opinion today that a gridlock would be dollar bullish though I'm not sure I followed that reasoning.

Perhaps the results will be the catalyst to move markets out of this very boring range we've been in for so long

[psperos]

Here is a very good article about the elections http://www.dailyfx.com/story/special...983435221.html

[midozfx]

Hi Everyone, hi Euro,
I wonder who forgot the Euro in the oven for a whole day?, when it will be taken out from the oven, a whole day and the pair only moved 39 pips, it is not over sold or over bought, but it became over cooked which doesn't attract me either to long or to short, even scalping is not in favor now, I guess if the dollar decided to go for a short trip away and leave the way open to the Euro to go wherever it wants, I guess that the Euro will not feel the dollar absence and it will keep on moving as a slow turtle with no hope to gain some points since I guess it is now addicted to act in a slow motion, and it's move can only be viewed under a microscope and cannot be viewed by a normal eye, Euro you are stepping in your shoes before stepping forward a single move, seems that you have a big size shoes that makes you move inside it first till you reach it's end and then start stepping forward, don't you get jealous from other pairs cheering and having fun moving upwards and downwards enjoying their time, or you are preparing a surprise for us, naughty Euro now @ 1.2721, take care and see you soon @ 1.2500, don't be late, don't forget to say hi to 1.2735 before leaving with wishes to meet it again in better circumstances when you come back again from the 1.2500 trip but don't go far than that (1.23 or 1.24) since this area is more wilder than the african jungles, but if the 1.2735 welcomed you there it might invite you to visit some of it's neighbours (1.2760 and 1.2790), so don't miss the chance.

[melih]

hi everybody!

why Eur/Usd go up? GMT 22:13

tomorrow EUR data forecast low

why at the moment up ?

this site give free short term signals (http:forex.up.md)

I am few days tested.Results successful

[peteuk]

Originally Posted by peteuk

02-11-2006, 17:28

How about short here and reverse lower, scaling into a long?

So far, even better than expected!

Sidelined now until after the mid-term results. I'll leave you guys to chat about your sleep patterns and making sure everyone has the right font and colour in the chat room, all very important stuff. Happy bouncing

[hoene003]

Boy o Boy !
What happened ?
This should not suppose to happen.
Now the start of your wave3 is completely destroyed.
In fact it made a new high at 1.2798 so according to the rules we have 5 waves from 1.2480. And that means we do not have a bigger wave2.

Lets find an excuse for this.

[Catalonia]

Originally Posted by hoene003

Boy o Boy !
What happened ?
This should not suppose to happen.
Now the start of your wave3 is completely destroyed.
In fact it made a new high at 1.2798 so according to the rules we have 5 waves from 1.2480. And that means we do not have a bigger wave2.

Lets find an excuse for this.

Hi!!

You'll get it. Take it easy and don't worry. You should also know that wave 3 is "violence" by nature. You need faith, faith and faith. Without faith, you will not go to anywhere.

[peteuk]

Well give FXsurfer his due, at least he saw the light and finally caved in with a long @ 1.2770

Even Stoxx seems to have thrown in the towel after a final losing attempt to short cable @ 1.9067

Without doubt normal service will be resumed shortly and top picking will recommence

[marketwavez]

Originally Posted by marketwavez

HI Hone

Here is a chart that I just wanted you and all in here to see .

It supports the Bullish view of things - at least temporarily .
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What are the Funny- Mentals saying ?

Seriously ,,, What do you think? -

Maybe we break 2800 this week ?-..... Maybe next week ?

Let us know .............

Today is Sunday .... We will be checking in on this one during the week.

Hone .......YOU, DA - MAN !....... It's your Birthday , It's your Birthday!

Here's an update chart from Suday's post......
/////////////////////////////////////////////////////////////////////////////////
Remeber this post ?
Original Post ........... Post #6314
Trading Eur/Usd with uncle Elliot - CLOSED READ LAST POST

That right side shoulder part of this chart pattern really held up as support .

Now time for that break through 2800 ?

Well what do you think? ......... Maybe we go through 2800 this week ?
----------------------------------------------------------------------
Mafioso make sure you give Hone his due ....

See the Updated chart posted below

[midozfx]

Originally Posted by midozfx

Hi Everyone, hi Euro,
I wonder who forgot the Euro in the oven for a whole day?, when it will be taken out from the oven, a whole day and the pair only moved 39 pips, it is not over sold or over bought, but it became over cooked which doesn't attract me either to long or to short, even scalping is not in favor now, I guess if the dollar decided to go for a short trip away and leave the way open to the Euro to go wherever it wants, I guess that the Euro will not feel the dollar absence and it will keep on moving as a slow turtle with no hope to gain some points since I guess it is now addicted to act in a slow motion, and it's move can only be viewed under a microscope and cannot be viewed by a normal eye, Euro you are stepping in your shoes before stepping forward a single move, seems that you have a big size shoes that makes you move inside it first till you reach it's end and then start stepping forward, don't you get jealous from other pairs cheering and having fun moving upwards and downwards enjoying their time, or you are preparing a surprise for us, naughty Euro now @ 1.2721, take care and see you soon @ 1.2500, don't be late, don't forget to say hi to 1.2735 before leaving with wishes to meet it again in better circumstances when you come back again from the 1.2500 trip but don't go far than that (1.23 or 1.24) since this area is more wilder than the african jungles, but if the 1.2735 welcomed you there it might invite you to visit some of it's neighbours (1.2760 and 1.2790), so don't miss the chance.

Finally the Euro surprised us as I said here and took off his shoes and ran forward and he listened to my words when I advised him to meet the 1.2735 before going down, since I had a feeling this time that the 1.2735 will be a good host that will welcome the Euro and will invite him to meet some of it's neighbours like 1.2760 and 1.2790 whom they both welcomed him as well and let him feel at home, and they introduced to him the 1.2820 which the Euro wasn't that welcomed there and didn't get a warm greetings as he had with the other neighbours, so the Euro must try to build a good friendship with the 1.2820 which it can introduce to him it's tough neighbour 1.2835-40 that needs a special treatment, are the Euro going to succeed in this to continue it's journey upward and to build more friendship, and can the Euro start negotiation again with the 1.2835-40, and will the 1.2835-40 give the Euro the visa this time to continue his journey north, or Euro will take application refused like the one he got the last time from more than a month, well Euro we are about to be in winter and as you know north places will be very cold, and you might have a fever and get sick, so I advise to make a U turn and go back south again, there it is warm for you and you will enjoy it, I recommend for you the 1.24 area, since it do care about you and always asking about you, and it will introduce you to the 1.23 community which you won't need a visa to go there, and don't forget to come back north again next summer when is the cold is off

[weissdawg]

Originally Posted by midozfx

Finally the Euro surprised us as I said here and took off his shoes and ran forward and he listened to my words when I advised him to meet the 1.2735 before going down, since I had a feeling this time that the 1.2735 will be a good host that will welcome the Euro and will invite him to meet some of it's neighbours like 1.2760 and 1.2790 whom they both welcomed him as well and let him feel at home, and they introduced to him the 1.2820 which the Euro wasn't that welcomed there and didn't get a warm greetings as he had with the other neighbours, so the Euro must try to build a good friendship with the 1.2820 which it can introduce to him it's tough neighbour 1.2835-40 that needs a special treatment, are the Euro going to succeed in this to continue it's journey upward and to build more friendship, and can the Euro start negotiation again with the 1.2835-40, and will the 1.2835-40 give the Euro the visa this time to continue his journey north, or Euro will take application refused like the one he got the last time from more than a month, well Euro we are about to be in winter and as you know north places will be very cold, and you might have a fever and get sick, so I advise to make a U turn and go back south again, there it is warm for you and you will enjoy it, I recommend for you the 1.24 area, since it do care about you and always asking about you, and it will introduce you to the 1.23 community which you won't need a visa to go there, and don't forget to come back north again next summer when is the cold is off

Mydose, what kind of drugs are you smoking?