My Forex Prediction using Advanced GET - page 49
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
how about GBP/USD? I have a feeling it will go down first and then go up.
I am Staying Aside on GBPUSD for the following reasons:
1. Using chart by GET, Wave C has more or less hit its down target. Not much meat to short further for the moment.
2. Then, GreatYves Elwave chart is a H4 chart. I do not use H4 or H1 charts to do day trading. A Daily chart is what I need. So no daily chart, no decision and no comments.
For me to make an intelligent trading decision, I also need Elwave Daily charts for the 5 currency pairs. Of course, without them I can still make my trading decisions using GET.
Kenneth
Ok, some contradiction i'd like to clarify. If USDJPY is a sell, And EurJpy is a buy, shouldn't we have a BUY EURUSD? We have contradictory signal here? Take your time for responding, i need to make my elwave SCAN. In fact Elwave is very neutral on EurYen.
Are we having contradictory signals here by way of GreatYves' thinking. Should not EURUSD be a BUY and not a Sell as signaled by GET.
GET signals:
USDJPY is a Sell
EURJPY is a Buy
EURUSD is a Sell
An understanding of Elliott Wave pattern formations and the Table of Fibonacci Relationships will explain the technical reasons behind the Buy and Sell signals for the EURUSD, EURJPY and USDJPY.
USDJPY – Sell. Reason: It is already in a Primary Wave 5 Down. Today I am NEUTRAL on USDJPY as based on the Table of Fibonacci Relationships it has hit or at least near the tailend of the Minor Subwave 5 of the Primary Wave 5. In other words, it is risky to short this currency pair today.
But as a position trade, I can still hang on to my earlier Short trade for a few more days based on Fibonacci Time Study.
EURJPY – Buy Reasons: It is in the last set of ABC of 3 sets of ABC corrective waves, and it is in the last leg “C”. The height of the upper and lower bands of the triangular ABCs are getting shorter and shorter offering lesser and lesser "meat". And the Table of Fibonacci Relationship calculates that this last leg has hit or at least near the tailend of the last set of ABCs. You can expect the next Daily bar to go up - perhaps another A of another set of ABC.
So when GET signals this as a BUY, I can safely go in for a quick profit.
Normally I would advise traders to avoid Corrective phase, as it can churn out several patterns.
EURUSD – Sell. Reason: Primary Wave 5 Up is completed by an earlier Doji (or near Doji) candlestick, falling Stochastics, Oscillator Negative Divergence.
The EW approach is when Wave 5 has finished its cycle, take a reverse position. It is going into a Downpath – whether it is A or Wave 1 – both are still down directions.
It is only the start of a downward path in its early formation.
I hope you will not have a headache trying to understand these technicals of Elliott Wave Principles but I do have a headache penning all this down – hehehe.
Ok. Going for my lunch and after that – my afternoon siesta. You cannot be watching the monitor whole day long and you need to know what you are doing.
Kenneth
Are we having contradictory signals here by way of GreatYves' thinking. Should not EURUSD be a BUY and not a Sell as signaled by GET.
GET signals:
USDJPY is a Sell
EURJPY is a Buy
EURUSD is a Sell
An understanding of Elliott Wave pattern formations and the Table of Fibonacci Relationships will explain the technical reasons behind the Buy and Sell signals for the EURUSD, EURJPY and USDJPY.
USDJPY – Sell. Reason: It is already in a Primary Wave 5 Down. Today I am NEUTRAL on USDJPY as based on the Table of Fibonacci Relationships it has hit or at least near the tailend of the Minor Subwave 5 of the Primary Wave 5. In other words, it is risky to short this currency pair today.
But as a position trade, I can still hang on to my earlier Short trade for a few more days based on Fibonacci Time Study.
EURJPY – Buy. Reasons: It is in the last set of ABC of 3 sets of ABC corrective waves, and it is in the last leg “C”. The height of the upper and lower bands of the triangular ABCs are getting shorter and shorter offering lesser and lesser "meat". And the Table of Fibonacci Relationship calculates that this last leg has hit or at least near the tailend of the last set of ABCs. You can expect the next Daily bar to go up - perhaps another A of another set of ABC.
So when GET signals this as a BUY, I can safely go in for a quick profit.
Normally I would advise traders to avoid Corrective phase, as it can churn out several patterns.
EURUSD – Sell. Reason: Primary Wave 5 Up is completed by an earlier Doji (or near Doji) candlestick, falling Stochastics, Oscillator Negative Divergence.
The EW approach is when Wave 5 has finished its cycle, take a reverse position. It is going into a Downpath – whether it is A or Wave 1 – both are still down directions.
It is only the start of a downward path in its early formation.
I hope you will not have a headache trying to understand these technicals of Elliott Wave Principles but I do have a headache penning all this down – hehehe.
Ok. Going for my lunch and after that – my afternoon siesta. You cannot be watching the monitor whole day long and you need to know what you are doing.
KennethWhatever I said above, I have acted out accordingly.
Bought EURJPY at 131.49, Sold at 131.61. Made 12 pips or US$133.29;
Sold EURUSD at 1.4603, Bought back at 1.4576, Made 27 pips or US$270.00 within 7 hours.
Total for the day is 39 pips or US$403.00;
And I am keeping the 0.1 lot of EURUSD as an experimental order to test the Fibonacci Time Study. It is now registering 49 pips gain.
Kenneth
Attached is a file containing my trades for the period Sept 24 to Sept 29.
These are my Intra-Day trades. You will notice I do not normally put any Stop Loss or Target Profits. These are mentally in my head, as I do not want my Stop Loss to be automatically triggered especially when I know I have a winning hand.
All these trades were made using GET's Trade Signals but many times it is not easy which one(s) to choose when GET gave a few signals at the same time.
That is why it is important that we know well our technical analysis tools and above all the Fibonacci Ratios and Relationships. A lot of analysis is involved than meets the eye.
It is a tough job and who says making money is easy.
Kenneth
Attached is a file containing my trades for the period Sept 24 to Sept 29.
These are my Intra-Day trades. You will notice I do not normally put any Stop Loss or Target Profits. These are mentally in my head, as I do not want my Stop Loss to be automatically triggered especially when I know I have a winning hand.
All these trades were made using GET's Trade Signals but many times it is not easy which one(s) to choose when GET gave a few signals at the same time.
That is why it is important that we know well our technical analysis tools and above all the Fibonacci Ratios and Relationships. A lot of analysis is involved than meets the eye.
It is a tough job and who says making money is easy.
Kennethwell done mate. I'm happy for you.
To be honest will be happy if I make half that kind of money. lol
I have to learn a lot and hope to get there soon.
I am Staying Aside on GBPUSD for the following reasons:
1. Using chart by GET, Wave C has more or less hit its down target. Not much meat to short further for the moment.
2. Then, GreatYves Elwave chart is a H4 chart. I do not use H4 or H1 charts to do day trading. A Daily chart is what I need. So no daily chart, no decision and no comments.
For me to make an intelligent trading decision, I also need Elwave Daily charts for the 5 currency pairs. Of course, without them I can still make my trading decisions using GET.
Kennethoh my elwave trial is going waste. Let me know if you need any pairs of elwave daily charts. I would be happy to help. Let me know what will be ideal time to generate them as well.
oh my elwave trial is going waste. Let me know if you need any pairs of elwave daily charts. I would be happy to help. Let me know what will be ideal time to generate them as well.
The best time will be slightly after 10:00 pm (London) and 5:00 pm (NY) - EST. when you will be able to update the forex data for the day afer the NY market has closed.
I need the Daily charts for EURJPY, EURUSD, GBPJPY, GBPUSD and USDJPY to add credence to GET's charts.
Whatever you and GreatYves have already done by way of providing Elwave charts, I really appreciate and I cannot ask for more. Your trial version has not been a waste. When it expires, try and ask Prognosis to extend it further as you need more time to evaluate and test it out. In fact, we are doing them a favor by testing out their results.
Thanks, FormulaOneFan
Kenneth
well done mate. I'm happy for you.
To be honest will be happy if I make half that kind of money. lol
I have to learn a lot and hope to get there soon.When you have honed your skill in the use of GET or Elwave to a high level of proficiency over time, the money will just flow in.
It took me too long to reach this stage. Perhaps younger people with quicker and better brains than mine can shorten the time period.
Don't worry too much about making money. Just focus on using the system - practice, practice and practice in using and interpreting the charts on demo accounts first before going live. If we cannot double, triple our practice accounts - what makes you think you can make it when you actually go live. I once asked my broker this question, he did not answer me and that was years ago.
Kenneth
I am staying aside this morning. Could not figure any pair out.. Will chat later tonight!
The best time will be slightly after 10:00 pm (London) and 5:00 pm (NY) - EST. when you will be able to update the forex data for the day afer the NY market has closed.
I need the Daily charts for EURJPY, EURUSD, GBPJPY, GBPUSD and USDJPY to add credence to GET's charts.
Whatever you and GreatYves have already done by way of providing Elwave charts, I really appreciate and I cannot ask for more. Your trial version has not been a waste. When it expires, try and ask Prognosis to extend it further as you need more time to evaluate and test it out. In fact, we are doing them a favor by testing out their results.
Thanks, FormulaOneFan
KennethSure mate. I will generate the charts and let you know. thanks.