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Thread: Elliott Wave Trading Discussion

  1. #19081
    brad_1199's Avatar
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    Market :)

    Quote Originally Posted by marketwavez2 View Post
    Congratulations Brad ---- Eur/Usd pair has been a hot-spot since last week .......

    ----------------------------------------------------------------- --------------------- -------------------------------
    Thanks Market.. I've had quite a few impressive trades lately Feeling Good

  2. #19082
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    BeerBoogy

    Quote Originally Posted by beeryboogy View Post
    Is anyone else thinking of shorting this pair at 1.3480? I mean... it's pretty overbought at the moment... but I don't know if fundamentals have changed to make the RSI irrelevant.

    Bryan
    Bryan.. With the momentum built up behind this move higher, I think it not wise to short EURUSD until a candlestick reversal is evident on the daily chart..

  3. #19083
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    Bulls win ))


  4. #19084
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    Quote Originally Posted by beeryboogy View Post
    Is anyone else thinking of shorting this pair at 1.3480? I mean... it's pretty overbought at the moment... but I don't know if fundamentals have changed to make the RSI irrelevant.

    Bryan
    Let the charts tell you when the rally is over. I would not short a pair just because it is seemingly overbought. It can *always* go higher. I will wait, and be looking for a clean 5 wave move down before attempting to short this rally.

  5. #19085
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    Quote Originally Posted by cmellon View Post
    Hi all,

    I will close my GBP USD longs sometimes this week, probably tomorrow, and prepare for a short trade for wave 2 of C, or in Delta terms, to prepare for a short trade for ITD 5.

    ITD 5 (or wave 2 of C) is due on average on March 26, usually with +/- 3 days standard deviation. For you who are GBP bulls, make sure you do not miss this chance around March 26 to go long for wave 3 of C. This of course assume that wave B is finished at 1.3650 on March 11.

    Here's my chart, assuming that 1.39637 low today holds.
    If 1.3900 somehow breaks for the remainder of the day or tomorrow, I will reasess the count again.

    Good luck.
    I think we're all eager to see your new assessment.

  6. #19086
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    Quote Originally Posted by marketwavez2 View Post
    Congratulations Brad ---- Eur/Usd pair has been a hot-spot since last week .......

    ----------------------------------------------------------------- --------------------- -------------------------------
    But anyone cant predicted its rocket move.
    I changed my pair from eur/usd to gbp/chf today and euro made its rocket surge.. I am really dissapointed.

  7. #19087
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    Quote Originally Posted by brad_1199 View Post
    AUDNZD looks like it's going to head lower in the coming days.. As long as price can close the day at 1.2425 or less, I expect to see price accelerate lower in the coming days...
    I just looked at it... but I'm not going to touch this pair until the spread gets reasonable... it's at 41.0 right now!

  8. #19088
    needinfo is offline Member
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    Quote Originally Posted by brad_1199 View Post
    AUDNZD looks like it's going to head lower in the coming days.. As long as price can close the day at 1.2425 or less, I expect to see price accelerate lower in the coming days...
    My broker has a spread of 15pips for AUDNZD, is it same with others as well?

    Bryan,

    15 seems to be reasonable when compared to 41...
    Last edited by needinfo; 03-18-2009 at 04:54 PM. Reason: 15 better than 41

  9. #19089
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  10. #19090
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    Quote Originally Posted by brad_1199 View Post
    Bryan.. With the momentum built up behind this move higher, I think it not wise to short EURUSD until a candlestick reversal is evident on the daily chart..
    Well, I was thinking of maybe just a 100 pip or so retrace move to short, but OK. I made my fortune today already ... no need to risk it overnight. Thanks!

  11. #19091
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    Hi Ravno,

    The scariest of all! gold rallied 650 pips in 20 min following the news from FED! how you justify this uptrent move in the contest of a larger down trend.I need to figure this out as I just lent the market few thousands dollar!
    do you think it will come down striaght (in oppose to the choppy decline)to where it will resume its downtrend move again?
    รูปขนาดเล็ก รูปขนาดเล็ก Elliott Wave Trading Discussion-gold-h1.jpg  


  12. #19092
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    Quote Originally Posted by marketwavez2 View Post
    Us Dollar


    Usd/Chf .................. The evidence is always in the charts ! .....

    ////////////////////////////////////////////////////////////////////////////////
    What do you think of this pair at the current price (1.1410)? It finally filled that gap up from 3/12/09... and then some! Now we're back near the bottom of the 1.1300-1.1900 range it was in from 1/19/09 to present.

    Are we looking long here, or looking for more downside?

    I guess I'm just wondering whether this FOMC statement today is a temporary market stimulant, or if this changes things fundamentally. Then again, I look at what happened with this pair from 12/10/08 - 12/18/08 and I get dizzy.

    Bryan

  13. #19093
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    ..., everywhere I look..., nothing but dead cats...,

  14. #19094
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    gold

    Quote Originally Posted by eXitTrader View Post
    Let the charts tell you when the rally is over. I would not short a pair just because it is seemingly overbought. It can *always* go higher. I will wait, and be looking for a clean 5 wave move down before attempting to short this rally.
    I can tell you you are totally right! that mistake cost me few thousand! do not guess the end of a rally .let your profit run and wait for a clear revesal.I thought gold got over bought after $30 rally and short it but she got so HIGH!! to $950 from $885 20 min before! $66 in one hour!

    has anyone ever seen such a mad dance from her?!

  15. #19095
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    AUDNZD

    Got the daily close I was looking for today in AUDNZD... I think wave "A" should target the 38.2 retracement line at 1.2049 now that the trend line has been rejected..
    Last edited by brad_1199; 04-09-2009 at 12:15 AM.

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