ElliotWaves - page 2
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Taking this trade for possible 4th wave above would give 55 sma
so went short at 1.2608
sl 1.2645
tp open
** Demo trades.**Channel is broken and i closed the trade @ 1.2615.. I am not yet flexible enough to reverse direction mainly due to new with it.
Eurchf --
The Wave seems incomplete right now but the channel resistance is there i went short 1.5708 sl 1.5735
usdchf for 5th flight?
Possibilty of usdchf to continue it's course downwards further. Personally i missed this trade but since it is on 4hr and if its a real five 5 wave there must be some place to get in for that i will work onlower time frames
Possibilty of usdchf to continue it's course downwards further. Personally i missed this trade but since it is on 4hr and if its a real five 5 wave there must be some place to get in for that i will work onlower time frames
Just would like to add for the best setup , i mean since i want to tarde inside the channel this wave should go and hit the yellow trendline that would make it a nice [c] and a good shorting place also now slowly i started observing that from the corners of the channel there lies both kind of opportunities one needs to be flexible enough which in my case will come with time and observation.
usdchf
continue from the last 4hr chart there remains a 5th wave completing Wave(c) of higher TF comments on the chart.. EURCHF is still going on
EACAN
USDJPY any one?
I am having a productive weekend going over the notes reading lots of stuff
... this might be a potential setup I would want the 50% Retracement to Hold and see with other indictors systems for potential 3rd wave .. As i understood EW does structure the data very well it is in the hands of the technician to act on the data for which i am for now very new
although i am using lots of systems combinations i will keep this thread for only elliotwaves setups one can always use conformations from related systems. So a potential setup and ofcourse anything can happen below 50% retracement i would be cautious to go long cause it might have failed..
Ew
Another view.......
Another view.......
jonnydenver69 thanks for the post it's encouriging to see people share their views , expierence and analysis.
continue from the last post..
i have attached the chart of channel resistance which i look for to break while we are above the redline that should give a signal a good upcomming 3rd wave
-- chart attached...
EURCHF From MurreyMath Point of View
So Back to EURCHF where i have shorted from 1.5708 sl 1.5735 ( previously posted ) ... After i spent some more time looking at data carving out waves and so on i went back to check what should i do with my open position for EURCHF and it seems for now convincing to hold this position because we are on daily at the highest resistance on MurreyMath what it suggest to me is if for what i have shorted [ considering channel resistance ] and now MurreyMath ( to keep positon ) is ok then the EURCHF could likely will reach
[4/8] MM Line at 1.5381.
-- Chart attached.
Everything is in how you look at it, price will lead the way