ElliotWaves - page 23

[EACAN]

EACAN:
i have moved my stop back to 1.3002 i am writing the rest just after this message price is still 1.2956-57 bid.

now why back to 1.3002??

as i said in the message before the last one this is becomming a complex correction which is still to complete where wave c marked in the last chart still shows end of wave 4 unless broken ofcourse.

also i did calculated my current pattern trades i have

1.2920-1.2995 = 75 pips

1.2942-1.2975 = 33 pips

and if this stop hits = 1.3002-1.2970 = - 32 pips with the grand total of 76 still with profit.. so i decided to keep this trade running.

Now what if it goes above the wave c marked in the chart .. well then there are alot of scenerios possible and i for one not interested because the complexity level would be beyond my skill level which i have gained by studying this subject and needs more expierence i am only in this untill the c is still intact..

EACAN.

[EACAN]

inside the wave and beyond..

attached is a chart showing the updated wave(4) if you observe the chart we have a situation in which first we have a normal flat correction then the whole wave moving in a triangle formation also if you relate this to wave (2) it is some what showing a complete alternation in time and price ..

although i stated i will not trade in case it goes above the marked wave c (w) now . but let me state 2 scenerios

1. It is a 5th wave failure and a new trend starts for which i need a new pattern

2. It still part of wave 4 making a wave c ( further analysis is needed and a new pattern ).

EACAN.

[EACAN]

update for e

now we could introduced that e which was removed before..

price now at 1.2980 .

[EACAN]

update

the stop is taken at 1.3002 which has thrown me to sidelines

so this pattern has ended for me with 76 pips and i am no more trading but learning and reading.

chart update :

none at this point

future trading:

well i have couple of plans for future first of all about trading plan regarding my goals which i will update here later ... 2nd is to improve my elliotwave analysis..

some people asked about the pretcher book i really dont have it anymore there were things i was not grasping so i let it go .. i just got my self neely book from www.amazon.com which i still didn't started reading.. the information seems very good plus it looks that it covers a lot of things but it doesn't seem an easy read though i am going to spend time on the book definately

regards

EACAN

[EACAN]

just a second..

i really hate to do this cause it takes away my discpline ... oh well

i am thinking to sell this market if travels below 1.2990 sl will to todays high

provided 1.3020-25 stays

anyways i will update when i enter i'll post the chart later actually what i am looking at is that this is still the 4th wave (c)..

next.. with chart

[EACAN]

back to wave iv

now please dont quote me on this !!.

remember there was a second scenerio where i stated this could be wave c of wave 4.. well that time has arrived unless stated otherwise

in the chart it shows where the wave c has been done

plus lets see the rules here

(i) wave 4 cannot go in to the price territory of wave 1

(2) wave 4 will not travel into the price territory of wave 2

so to say these conditions are still valid as such if it gets back inside the wave(a) i will still call it the wave c of wave 4 which took all this time and pain to unfold and sell at the break of wave (a) .

will post when entered since things can change in smaller time frame namely 5-15 minutes..

EACAN.

[EACAN]

The last trade for this pattern

I am already outside of my discplinary red line and this definately my last trade for this pattern

sell stop eurusd @ 1.2989 sl 1.3023 ( broker's high )

for tp i will update my charts.

[EACAN]

EACAN:
I am already outside of my discplinary red line and this definately my last trade for this pattern

sell stop eurusd @ 1.2989 sl 1.3023 ( broker's high )

for tp i will update my charts.

update::: Nopes :: order cancelled not what i was looking for ..

Now it can be anything it wants to be a wave (iv) or a new trend nothing for me to enter right ... now me back to books and be back with a new pattern

[EACAN]

next stage

EURUSD 1.3028

still inside the low of wave 1 1.3050-53 and giving me trading ideas.

i am not going to sell this untill 1.2989-85 so nothing else to do except waiting...

For people who are interested in Harmonic Patterns we have also developed a rough Gartley in 4hr but the price has passed a little above the 1.272.

EACAN

[EACAN]

updated chart

EUR 1.3037

This simplified chart shows what i am upto

also shows resistance and my entry point for yet again that (iv) wave

but i doubt it will happen so not concerned alot about it the next target for this say new wave is 1.3100 if it can stop here and move back i'll sell at that arrow and stop would be the red line or the recent high

will use again just 3% and one-two contract in this update later,