loopyno Posted April 19, 2010 Report Posted April 19, 2010 yeah ... my first support area snapped like a twig Quote
chankl78 Posted April 19, 2010 Report Posted April 19, 2010 Hmmm... I think must need to find some way to know what are the signs of wave completed. For example, it will retrace very fast, like just now. Or candles pattern?? What do you think? How do you know when the wave is completed? Smile Chankl78 Quote
loopyno Posted April 19, 2010 Report Posted April 19, 2010 well things stand like this ... wave 5 for ex is complete when prices go beyond the extreme point of wave 4 now ... in forex there is a lot of volatility and manipulation of data so ... i tend to wait for a close that breaches that extreme not only prices movement beyond that level Quote
chankl78 Posted April 19, 2010 Report Posted April 19, 2010 Hmmm... Indeed you are right. But which time frame will u based on? M15 as yr confirmation or H1?? If using higher timeframe (Greater than H1), will miss out lots of pips. But use M15... sometimes also create fake out thus lose pips. Use candlesticks pattern... can change within the next candle... Hahhaha.. Forex is so interesting.... Smile Chankl78 Quote
chankl78 Posted April 19, 2010 Report Posted April 19, 2010 well things stand like this ... wave 5 for ex is complete when prices go beyond the extreme point of wave 4 now ... in forex there is a lot of volatility and manipulation of data so ... i tend to wait for a close that breaches that extreme not only prices movement beyond that level Today GU also... Wave 3 is never ending... Also never know when it is forming the wave 5 of the wave 3.... Thus lose some pips because of it.. cos 2 times it has change in direction..... but after 1 to 2 hours... came back down..... Smile Chankl78 Quote
loopyno Posted April 19, 2010 Report Posted April 19, 2010 man if you trade H1 you have to wait to the break on H1 but u do no enter at that break .. at least i do not do that for example entering in a corrective wave A after an impuls is very dangerous because as u found out today you only know when 5 is complete after wave A is almost over but if that is the case u will wait for Wave B to finish and then enter on wave C which is longer and with a higher probability taking into consideration what you had done until that moment (waited for A to confirm Wave 5 and for price to retrace - Wave B) chankl78 1 Quote
chankl78 Posted April 19, 2010 Report Posted April 19, 2010 (edited) Now I understand after a hard reality... Will follow your method. Wait until A is form & then enter trade. http://i43.tinypic.com/htgxw3.jpg This is my target after wave C is completed. Now, I think GU is forming 3 waves of B if not wave 4 of A. if not, Looking at M5, Wave A & B is completed... Wave C is forming. (5-3-5) If I am not wrong. Still waiting for confirmation.. But Wave A is already at 50% retracement just now. Elliott Wave if count correctly can really predict future. Smile Chankl78 Edited April 19, 2010 by chankl78 Quote
chankl78 Posted April 19, 2010 Report Posted April 19, 2010 http://i39.tinypic.com/wme5g1.jpg http://i39.tinypic.com/4hsgte.jpg Smile Chankl78 loopyno 1 Quote
loopyno Posted April 19, 2010 Report Posted April 19, 2010 wave A usually completes in the 50% - 61.8% retracement area of the last impulse (5 waves) move an corrective move is made out of: - wave A - 3 waves (3, 3, 5) - wave B - 3 waves (3, 3, 5) - wave C - 5 waves (5, 3, 5, 3, 5) chankl78 1 Quote
chankl78 Posted April 19, 2010 Report Posted April 19, 2010 Now, I need to relook into my corrective wave structure... I always thought the whole collective wave is 50 - 61.8% of last impulse wave. I am wrong... It is Wave A... So by by the time Wave C completed, it is still ard 61.8% of the Impulse Wave Structure??? 5, 3, 5, 3, 5 - that's means, i fall for it last week.. end up bad trade.. Cos I really tot it going uptrend... You have mentioned to me... I never took notice.... sigh... This time, I will be real careful. Smile Chankl78 Quote
loopyno Posted April 19, 2010 Report Posted April 19, 2010 if u have time read this http://www.elliottwave.com/books/ewp/default.aspx?code=oco chankl78 1 Quote
chankl78 Posted April 19, 2010 Report Posted April 19, 2010 Thanks. I will read it. Cannot take it.. rubbing my eyes so much... Now 1.30am.. Think I better sleep.. See you.. Smile Chankl78 Quote
loopyno Posted April 19, 2010 Report Posted April 19, 2010 (edited) if anyone is interested here are my chart for Tuesday H4: http://img685.imageshack.us/i/70889551.pnghttp://yfrog.com/j170889551phttp://img685.imageshack.us/img685/4954/70889551.png H1: http://img232.imageshack.us/img232/8665/32693816.png the last 2 areas on H1 held very well ... the second support area was the real support area as u can see from the picture of the H1 timeframe Loopyno Edited April 19, 2010 by loopyno chankl78 1 Quote
chankl78 Posted April 20, 2010 Report Posted April 20, 2010 Great one.... Very soon I will join you in quest of EU..... Hee hee... clearing out my hedge very soon.... Make a good profits on yesterday Down move. (Of cos still have losses... if not, the profits will be more higher).... Must determine not to make stupid move again... & must always based on the confirmation of my EWO of higher timeframe. Since it been super accurate. Smile Chankl78 Quote
chankl78 Posted April 20, 2010 Report Posted April 20, 2010 GBPUSD 20th April 2010 Here is my view today. Waiting for Wave 4 to complete & come down. 2 situations. 1) is to come down straight. 2) There is 1 more up wave before coming down. Daily Chart http://i44.tinypic.com/ojpnqr.jpg H4 Chart http://i39.tinypic.com/1z2njw9.jpg H1 Chart http://i40.tinypic.com/w2dmbp.jpg M15 Chart http://i40.tinypic.com/24dlgf8.jpg hope it will helps. Trade at your own risk. Smile Chankl78 loopyno 1 Quote
chankl78 Posted April 20, 2010 Report Posted April 20, 2010 My Plan for GBPUSD 20th April 2010 http://i40.tinypic.com/2ewmqfo.jpg As you can see... I am still waiting for it to reach 61.8%. I will short once it goes up & back to 61.8%. Which is around 1.5331 My target is as follow. You can see the FE 61, FE 100 & so on. That's is my target. Which is 1.5161, 1.5070 Trade at your own risk.... That's my plans. Hope it works out. Smile Chankl78 Quote
chankl78 Posted April 20, 2010 Report Posted April 20, 2010 Ok.. Me just entered a short without waiting for 61.8%... Target is still the same.. Trade at your own risk.... Smile Chankl78 Quote
szelee Posted April 20, 2010 Report Posted April 20, 2010 if anyone is interested here are my chart for Tuesday Your chart look good. Can you share your template and indicator? Quote
loopyno Posted April 20, 2010 Report Posted April 20, 2010 (edited) Your chart look good. Can you share your template and indicator? Hey szelee I do not use an indicator ... i count the waves manually ... i draw the targets manually ... so i have no indicators to share :) Loopyno Edited April 20, 2010 by loopyno Quote
chankl78 Posted April 20, 2010 Report Posted April 20, 2010 (edited) Manual calculation of Elliott wave is so fun.... Especially when you count right.. Now... I am GU touch my 61.8% of correction wave. Wave C should be completed... Haha.. Never wait for correct signal & I already enter a short.... Smile Chankl78 So also EWO is showing the correct thing in H4... It will goes up... Think I better exit first first & wait for confirmation... Edited April 20, 2010 by chankl78 EWO in H4 is correct Quote
loopyno Posted April 20, 2010 Report Posted April 20, 2010 man be careful with those kind of entries they are very high risk chankl78 1 Quote
chankl78 Posted April 20, 2010 Report Posted April 20, 2010 You are very right. So exited.... in a pip profit.... Waiting for confirm signal... wahaha.. canot be arrogant... cannot be greedy.. But i am so amaze by fibo lines. It just stop right there... Smile Chankl78 Quote
chankl78 Posted April 20, 2010 Report Posted April 20, 2010 Thanks Loopyno.. Hahha.. it really went up... Moreover, news in 5mins.. hahah.. exit without a lose is good... Smile Chankl78 Quote
chankl78 Posted April 20, 2010 Report Posted April 20, 2010 This could be the signal to downtrend if my counting is right.. http://i39.tinypic.com/118huo0.jpg Just now have completed it last upwave...... At 161.8%... Now waiting for M15 & M30 for short confirmation... Good luck all.. Smile Chankl78 Quote
loopyno Posted April 20, 2010 Report Posted April 20, 2010 man that looks like and impulse wave :) - 5 waves up Quote
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