a trading strategy based on Elliott Wave Theory - page 167
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Good luck.
Alex, do you really think I am arguing with your prediction. There have been all sorts of predictions on this forum, including mine, and no one has argued with anyone. It's a silly thing to do. Whoever disagrees will give his prediction. Time will tell. :-)
But here, on your recommendation, I re-read one post above. The author writes:
At 18:00 there will be a sharp surge up to 1.9135...
What is there to object to here? There's nothing to object to here at all. Was the author right or wrong it was found out in 15 minutes. So what's there to argue about?
What's got, as you put it, the public so worked up? Imagine it wasn't you who wrote it and reread it 2-3 times. What do you see there? Nothing, except the author's ambition.
Alex, if you don't like criticism, why are you setting yourself up with such risky statements?
Now if you don't understand, I want to clarify again. I am not arguing with your statement on the pound. Not because I agree with it, but because I don't see the point. I just see your struggle with your ego and sympathise with you (you, not your ego !).
And we have made our bets. You expect the euro to be 1.24 by the end of the year and I expect 1.30.
I'm rooting for you. :-)
Thanks. I guess I'll have to make an effort and rewrite the linear indicator into a parabolic one, too.
2. Break above the historical high of 150.70 ( to 151.40 ) on EURJPY.
3. Comments from the Bank of England after the rate hike did not meet market expectations.
4. The dollar is falling while the euro is rising after reports of China's intention to diversify its reserves.
That explains all the wobbling and tossing. And we argue, argue, make predictions.
No one has complete information about strategic plans, levels, sales and purchases by the big players. Psychological ( human ) factors.
How can any mathematical ( graphic) theory take into account these real market driving forces, their confrontation, interaction, mutual influence?
I personally do not understand it. Please advise and explain, who knows.
ANY theory can't. But an adequate one can, no doubt about it.
Example. Gas in a vessel. What 'theory' can account for the interaction of all molecules. None, because there are so many of them. You can't keep track of them all. Therefore, although we may assume that they interact according to Newton's laws, we cannot calculate all these interactions as we could not in Newton's time and still cannot. So, is it over? Not at all! The molecular-kinetic theory (quite simple thing, by the way) builds on Newton's theory its own construction, which, although it still cannot say anything about each molecule, is excellent for the system as a whole. So well that thermodynamics, which originates in it, is still a generally accepted theory of such systems and no one disputes its predictions.
You are certainly right that such a market theory does not currently exist. But that doesn't mean that it cannot exist in principle.
And until a fundamental theory is developed, we are still left with the phenomenological approach. Within the framework of this approach, believe me, we can do a lot. The Boyle-Mariotte, Gay-Lussac and Charles laws were discovered long before the molecular-kinetic theory emerged, thanks to this approach.
Ok, I was just kidding :) No offence taken.
Sincerely, Vladislav.
Good luck and good trends.
Vlad, allow me to disagree with you.
I think that a successful trader must have
at least confidence in his/her forecasts and a little patience.
If you're not sure of your forecast why do you enter the market
I think that those who trade on the real market will understand me. :)
Перечитайте пост выше.
Well, the channel has been broken - a reversal order has been triggered from 1.9 - going upwards. :).
Good luck.
Whether we will reach 1.9135 is not clear yet - there are still some places on the way.
We will get there for sure, just a little patience... :)
I do not want to repeat myself, but if you are really interested, read the thread from page 4. If you understand what we are talking about, then perhaps you do not need the answers to the above questions.
Now a little more specific:
What makes you think that this is the cause of market price movements and not a consequence of some more global factors? Can you prove it? Or is it because you don't see others? I do not see Africa either, does that mean it does not exist? People don't know the nature of gravity - and that planes don't fly ?
No one has complete information about the strategic plans, levels, sales and purchases of the big players. Psychological ( human ) factors.
Are you sure it's necessary ? - Just look at the screenshot I posted and look at the price trajectory. Naturally this is not always the case, but it is enough for a trader.
How can any mathematical ( graphic) theory take into account these real market driving forces, their confrontation, interaction, mutual influence?
I personally do not understand it. Please advise and explain, who knows.
I can only repeat it here - re-read the thread from page 4. And as for the real driving forces - see Yuri's post - are you sure you have to know them thoroughly?) ? And then how do we know that these are the real driving forces and not the consequence - however, this is me repeating myself .... Read the thread if you are interested.
2 Alex
Of course a trader should be confident in the forecast but should not persist in delusions either. The key word in that phrase was "necessarily": you should cut stops and unprofitable positions without regret.
Regarding the targets - I have 1.9165. 1.9135 is an intermediate level and may be either broken through immediately or will be delayed there - we'll see when we approach it.... I meant that if it will be beaten out on the way, I will not insist - there will be some more room for trades.)
By the way, 1.9104 is the level from which the correction of the previous rise may start. I think, here it is better to simply follow the market - wherever it goes, that is where the trade will go ;).
ZZZI And one more thing: for the correction there are two possible levels - 1.9073 and 1.9043, if we do not fall lower than the first one, the possibility to reach 1.9165 increases. Breakdown of 1.9043 may delay the ascent, and the targets may be cancelled.
Regards, Vladislav.
Good luck and good trends.
2. Break above the historical high of 150.70 ( to 151.40 ) on EURJPY.
3. Bank of England comments after rate hike failed to meet market expectations.
4. The dollar is falling while the euro is rising after reports of China's intention to diversify its reserves.
That explains all the wobbling and tossing. And we argue, argue, make predictions.
No one has complete information about strategic plans, levels, sales and purchases by the big players. Psychological ( human ) factors.
How can any mathematical ( graphic) theory take into account these real market driving forces, their confrontation, interaction, mutual influence?
I personally do not understand it. Hint and explain, who knows.
Ol, I used to be "convinced" too that news was the basis for price movements in forex.
Now, I have come to the conclusion that news has no influence at all on exchange rates!
The current news is adjusted to certain price movements. :)