Forex Watchlist

[NHN123]

With weekly trend..... not the best, but it meets with the maths of the standard ABC

[davidl]

nhn- fyi, per my data, i didnt get a reversal bar for a short for usd chf. I was also watching usd jpy for a short, but the reversal bar didnt happen as well.

[davidl]

Just thought i would post my 2 cents worth with gbp usd. this is a manual count that i did with some fibs. I do believe if price goes below the purple typ wave c area the long daily gpb usd trade will be stopped out. The good news is, per fibs, the price pattern is shaping up to be a nice gartley or bat pattern. This is a 1 hour chart.

[NHN123]

With weekly trend..... not the best, but it meets with the maths of the standard ABC
sorry, meant to say that.. I don't have a reversal bar either... just pointing out that there was an ABC there

[NHN123]

Anyone know how to start a new thread? I can't remember how... spent the last hour trying.....
thanks

[davidl]

Anyone know how to start a new thread? I can't remember how... spent the last hour trying.....
thanks

click on "new thread" at the top of
http://www.mtptrader.com/forumdisplay.php?f=30

if you want the new thread to be in foreign exchange thread

[NHN123]

click on "new thread" at the top of
http://www.mtptrader.com/forumdisplay.php?f=30

if you want the new thread to be in foreign exchange thread
nice one...
I knew it was simple, I just haven't done it for so long.... I'm gonna try to start up a trend definition thread...

thanks

[Steve Griffiths]

Hi Guys,

EURUSD 240min TS3 short trade (on TS8 data) working out nicely :)

Steve

[Steve Griffiths]

As a PS,

240min sell in the direction of the larger degree daily down trend as defined by the red STF

Steve

[davidl]

Hi Guys,

EURUSD 240min TS3 short trade (on TS8 data) working out nicely :)

Steve

Steve- Any reason why my EOD did not pick up the set up? With both intermediate and major settings. Trade looks nice.

Thanks,

David

[Steve Griffiths]

Probbably because your data is slightly different..................

I agree, when you can "see" such a good set-up you can always add in the Wave C WPT's manually and then make a tarde decision from there............

Steve
`

[durgesh147]

Keep an eye on this one.....

[Gartley222]

Keep an eye on this one.....

Yeah nice Gartley in fact TS4 !! :D

[Steve Griffiths]

Hi Guys,

Nice to see the EURUSD TS3 sell (on TS8 data) working out nicely :)

Already at the first profit targets..................

Steve

[NHN123]

Hi Guys,

Nice to see the EURUSD TS3 sell (on TS8 data) working out nicely :)

Already at the first profit targets..................

Steve

Hi Steve,

on this one, the R/R wasn't that great...

So I wanted to ask, would you recommend using outside/inside bar breakouts on short term charts? Cos on this one, I think it was an outside bar, which would have made the R/R very much better.

Thanks
Nick

[Steve Griffiths]

Hi Nick,

Certinally can............. expecially with a good looking set-up.

Exactly, that would have made the R/R much better.

Well spotted.....

Steve

[AlanD]

NHN123,

Not to upstage Steve (as that would be difficult to do), but regarding your question about using inside bars for a better R/R value, I have studied this and have found more often than not in cases where a pivot is formed by the long exhaustion bar creating the 1,2 or 3 setup followed by a small inside bar which remains in the top (or bottom) 25% of the exhaustion bar, a more precise target area is determined with the inside bar rather than using the setup bar. I feel that these long bars tend to be out of character momentarily as compared with the bars preceeding it and does not provide a very good measure for MTP to give its target areas. Hope that makes sense.

Just my two pips,
Alan

[durgesh147]

Low risk trade.............

[davidl]

Durgesh i like the way your trading those inside bars, great idea. I just went long with us chf per the 1 hour.

[Gartley222]

USD/SGD Daily ...

[Gartley222]

TS1 setup ...

[Gartley222]

A sell setup might unfold here ...

[Steve Griffiths]

Hi Guys,

Will the GBP continue lower again today ?

Steve

[davidl]

Gartley,
im going to short the eur chf per the daily ts3 set up that you posted if the daily reversal bar holds. Thought i would post this eur chf 4 hour chart with regular divergence at the wave 5 area with Steve's new stf indicator.

[Gartley222]

Gartley,
im going to short the eur chf per the daily ts3 set up that you posted if the daily reversal bar holds. Thought i would post this eur chf 4 hour chart with regular divergence at the wave 5 area with Steve's new stf indicator.

In fact Gartley pattern(EURCHFdaily)...

[Gartley222]

TS3 sell setup found ...

[Steve Griffiths]

Hi Guys,

Nice the see the GBP 60min TS3 sell droping into the first target :)

Hope you all caught this one ?

Steve

[davidl]

whats everybody think about this? I am currently short with this nzd jpy daily trade. I am thinking about adding a position (1% risk) to the trade with this inside bar.

[Gartley222]

USD/SGD Daily ...

So far ,so good...

[Gartley222]

100% initial risk ...

[durgesh147]

Good reversal bar at WPT... STF is also blue... looks good...also in sync with daily setup..

[Gartley222]

eur/jpy (daily)

Minor ...

[NHN123]

eur/jpy (daily)

Minor ...
Hi Gartley,

I'm glad you posted this.

It allows me to ask a question: Can you use the find elliot wave module to project support/resistance in cases like this? Yes, there are 5 swings, but they come after prior swings in the same direction, so the start of the wave 1 was not a bottom, more a pullback?

I'm not criticising your analysis, or saying you are wrong. I am just using the opportunity to ask a question to the more experienced "ellioticians".

Many thanks
Nick

[Gartley222]

Hi NHN123,

I am not a specialist in elliot waves , in fact i have studied more about fibonacci patterns , but i also do use elliot.

This case that you said , i am only using it as a clue not as an final decision.

about elliot , the books that Durgesh has introduced, i have studied them but if you would like i can entreduce you good books about fibonacci strategies...

[Gartley222]

100% initial risk ...

RUN FORREST RUN !!

[Biggo]

Potential ts3 short on EUR/CHF

[Gartley222]

RUN FORREST RUN !!

USD/SGD Daily ...

Thank you Steve !

[Gartley222]

Not the best situation but ...

[Gartley222]

EUR/GBP Daily

Without reversal bar ...

[Gartley222]

EUR/GBP Daily

Without reversal bar ...

Sorry with reversal bar !

[davidl]

This ts3 is coming up on my scanner with chf jpy on the 1 hour. The 4 hour stf is red. The daily stf is blue but the daily 20 ema is pointing down. I also have price at wave 4 on the 4 hour chart. About 30 minutes to the close of this bar.

[Gartley222]

Not the best situation but ...


TS2 Buy setup triggered ...

[Gartley222]

GBP/CHF Daily

Major ...

[Gartley222]

TS2 Buy setup triggered ...


100% initial risk ...

[davidl]

100% initial risk ...

Gart, that bar, which had the very low at C, was a blue reversal candle for me, so i got in at 144.45. Was yours not a blue reversal?

[Gartley222]

No...

I use fibogroup Data ...

A goodlooking TS1 buy setup found in EUR/USD 4hr.

1.The ABC correction.
2.Typical wave C WPT.
3.Coloured Reversal Bar...

[Gartley222]

100% initial risk ...


What Dreams May Come ! :D

[davidl]

eur chf 4 hour chart. Intially the r to r looks a bit low, but remember a daily set has happen, so this could be a big trade.

[Eddo]

eur chf 4 hour chart. Intially the r to r looks a bit low, but remember a daily set has happen, so this could be a big trade.

Hi David,

I was interested in your setup - I didn't get that on either eSignal nor on MTP EOD using eSignal data feed - as a matter of interest where is your data coming from - also I notice that your chart is showing one bar more than mine - what time do you start your bars - mine are (UK midnight, 4, 8 (my current one) etc

Thanks - Chris

[davidl]

Hi David,

I was interested in your setup - I didn't get that on either eSignal nor on MTP EOD using eSignal data feed - as a matter of interest where is your data coming from - also I notice that your chart is showing one bar more than mine - what time do you start your bars - mine are (UK midnight, 4, 8 (my current one) etc

Thanks - Chris

my data is from interbankfx. I also use them as my broker. All bars start at 0000 gmt for the new day. There is a funky bar on Sunday. Interbank fx opens on Sunday at 6 pm est (10 pm gmt), they end trading at 4 pm est or 8 pm est on Friday. So one of my 4 hour bars is only 2 hours long, which is the very first bar of the week. So on Sunday i have a daily bar that is only 2 hours long, first daily bar of the week. Its something i wish interbank could change, but i have also gotten used to it. Whew! after all of that thinking i need to get some more coffee, its a bit early here. Hope this helps.

David

[Eddo]

my data is from interbankfx. I also use them as my broker. All bars start at 0000 gmt for the new day. There is a funky bar on Sunday. Interbank fx opens on Sunday at 6 pm est (10 pm gmt), they end trading at 4 pm est or 8 pm est on Friday. So one of my 4 hour bars is only 2 hours long, which is the very first bar of the week. So on Sunday i have a daily bar that is only 2 hours long, first daily bar of the week. Its something i wish interbank could change, but i have also gotten used to it. Whew! after all of that thinking i need to get some more coffee, its a bit early here. Hope this helps.

David

Thanks David,

My bars also start at 0000 gmt but I seem to be one behind you ! - never mind I expect it will (over time) be swings and roundabouts - thanks very much for your input

Chris

[mitch]

my data is from interbankfx. I also use them as my broker. All bars start at 0000 gmt for the new day. There is a funky bar on Sunday. Interbank fx opens on Sunday at 6 pm est (10 pm gmt), they end trading at 4 pm est or 8 pm est on Friday. So one of my 4 hour bars is only 2 hours long, which is the very first bar of the week. So on Sunday i have a daily bar that is only 2 hours long, first daily bar of the week. Its something i wish interbank could change, but i have also gotten used to it. Whew! after all of that thinking i need to get some more coffee, its a bit early here. Hope this helps.

David

Hi David. I also use InterbankFx (demo only at this stage), but notice you trade in pairs that do not get offered on my platform (eg chfjpy). I only see 11 pairs...are there more offered on a 'live' account?
Also, do you use the same process (previously outlined in this forum) to download data from IBfx into MTPEOD? How do you find the process ie is it relatively easy\quick (I haven't got MTP yet and am currently assessing requirements (eg. my PC hardware capabilities as well as data sources whilst reviewing MTP performance).
Thanks Mitch (ps I am located in Oz where are u? reason I ask is that I am trying to understand the significance of the chart time set ups viz est vs gmt and whether us down under need to set up differently?)
Your feedback is MUCH appreciated.

[Sejake]

Daily EurGbp moving along nicely as well.......

[davidl]

Hi David. I also use InterbankFx (demo only at this stage), but notice you trade in pairs that do not get offered on my platform (eg chfjpy). I only see 11 pairs...are there more offered on a 'live' account?
Also, do you use the same process (previously outlined in this forum) to download data from IBfx into MTPEOD? How do you find the process ie is it relatively easy\quick (I haven't got MTP yet and am currently assessing requirements (eg. my PC hardware capabilities as well as data sources whilst reviewing MTP performance).
Thanks Mitch (ps I am located in Oz where are u? reason I ask is that I am trying to understand the significance of the chart time set ups viz est vs gmt and whether us down under need to set up differently?)
Your feedback is MUCH appreciated.

I have 19 pairs available to trade. Im not sure if the # of pairs in the demo is different than the live version. I would think it would be the same. At least it was in the past. Here is the web site for interbankfx. www.interbankfx.com. I currently use a currency loader, which goes in the expert area of mt4. It is very slick and easy. It takes a bit of time to set it up, but once it is set up your good to go. I live in the US.

Hope this helps.

David

[mitch]

I have 19 pairs available to trade. Im not sure if the # of pairs in the demo is different than the live version. I would think it would be the same. At least it was in the past. Here is the web site for interbankfx. www.interbankfx.com. I currently use a currency loader, which goes in the expert area of mt4. It is very slick and easy. It takes a bit of time to set it up, but once it is set up your good to go. I live in the US.

Hope this helps.

David

Many thanks David:) Not familiar with MT4 or features & functionality yet (am awaiting arrival of a new laptop with more 'grunt' than my current desktop before I download MTP and mt4 etc) so may come back (to you) in due course for some guidance/assistance (if ok with u) re the 'currency loader' process/feature you mention. Cheers:)

[mitch]

eur chf 4 hour chart. Intially the r to r looks a bit low, but remember a daily set has happen, so this could be a big trade.

Did you decide to progress this one ieg place an order? (just curious as I note that price is currently hovering need s/l level?)

[davidl]

Did you decide to progress this one ieg place an order? (just curious as I note that price is currently hovering need s/l level?)

Mitch i got stopped out with this trade.

[Gartley222]

Very interesting...

[jswin]

Hi Gartley, using Genesis data I had a low of 114.42 corresponding to the daily bar on 14/06. It still came up in the advanced ABC module but significantly reduced the R/R. Still would have been nice though if it hadn't failed.

[davidl]

gents im liking the looks of the 4 hour u/j set up. i realize that the daily hit the wave 5. I also see a big butterfly developing on the daily, so i think there is some room for it to go up.

[davidl]

Boy did i miss a nice trade this week. Obviously, it is always easier to see these after the fact, but i had 2 weeks to get ready for this trade. Attached is the gbpusd weekly chart. As i noticed that price went into the wave 4 area a few weeks ago on the weekly chart. I told myself to start looking for abc correction to go long with the smaller time frame charts. Well here it is...the abc correction for the long happened this week on the 4 hour chart. Now the scanner did not pick this up, but i should have seen this. ugh.

Hmmm and i wonder why those two short gbp usd trades on the 4 hour chart worked (that Steve posted in his daily reports). BECAUSE PRICE WAS GOING FROM WAVE 3 TO WAVE 4 (by the way im yelling at myself).

Sometimes i just need to be smacked over the head with a hammer. I hope some of you took this one.

Have a great weekend all.

David

[martinrcox]

Here is one that triggered on Wednesday but is still only a few pips above the entry point and may come back to meet it on Monday. It reversed off the typical wpt and has a blue bar which may not have come out on the chart. The second chart shows the monthly trend which is up and the STF is blue. I know that Chris uses the 20 and 21 ma and the blue line is below the red (which is not shown on the weekly chart). I don't know whether you keep Steve's daily reports (I find them useful to refer back to) but if you look up the ones from 15th and 16th May you will see details of the TS3 in this pair that triggered on 5th May and achieved an R/R of 7.5 not that it will necessarily repeat this outcome !!

[Eddo]

Hi all,

I tend to shy away from the 1 hr setups, however, I was wondering if anyone else jumped on this one?

Whilst the R:R is only just about a 2:1 the reason I went for it was because the weekly, daily and 4 hr charts are all in a really nice looking uptrend (based on my 20 & 21 period MA's) and all have nice blue STF filters

Happy hunting - Chris

[davidl]

Chris, i did not get a set up with that one.

[Eddo]

Chris, i did not get a set up with that one.

Hi

I'am using eSignal and my 'puter is set to GMT - are you on the same time frame?

[davidl]

my computer is set to eastern time zone. But my charts are set to gmt.

[Eddo]

my computer is set to eastern time zone. But my charts are set to gmt.

David - I think that if you set your computer clock to GMT the setup should come in - its one of those funny things - sometimes mine doesn't pick up trades people get with the 'puter set to eastern and visa versa

PS - Having said all of that it looks as if it will get stopped out ! - I knew I didn't like 1 hr setups !!

[davidl]

I like the looks of this ts2 with aud nzd. This is a 4 hour chart. Price hasnt quite reached the min wave c area, but as you can see price bounced of a 61 fib. Bar has a ways to go before it closes.

[Rimu]

AudUsd daily still moving along.........

[Sejake]

Anyone watching USD/CAN....at an interesting spot here.

[davidl]

Sean, i am leaning toward taking trades that are dollar strenght right now, due to the direction of the stf on the daily charts.

[Sejake]

Roger that David, so far an inside day is developing so easily could be a continuation day (further upside).....

Thanks, Sean

[Sejake]

I'm surprised this hasn't been posted yet?
Very nice trade today.

[Sejake]

Wow.......what a great 30 min TS2 overnight! :)

[Sejake]

Watching USDCHF now for possible reversal signs. Right at .62% fibo of larger move up.

[NHN123]

Hello,

Daily set up could be a good one still on GBPUSD to sell.

Wave C should be impulsive 5 waves (minor). Going down to 4H chart, we have a lovely 5 wave move up which makes wave C on daily...

I'm excitied!

[jad]

Hi

Only issue i see with the potential daily sell set-up is if you go to the weekly chart of the gpbusd. Shows that a Wave 4 may have been completed and we may now see the final wave 5 up.

[NHN123]

Hi

Only issue i see with the potential daily sell set-up is if you go to the weekly chart of the gpbusd. Shows that a Wave 4 may have been completed and we may now see the final wave 5 up.

You might be right. I was looking at it differently, but who knows.

I thought this.

[Rimu]

AudUsd Daily still moving along...

[Sejake]

Wow...nice reversal day today right at 1 or A wpt.

[durgesh147]

Did anyone have a look at this....

[durgesh147]

Not a ABC setup, but looks good...

[davidl]

durgesh, i have noticed the weekly chart for eur usd. Price is pretty much been following the weekly road map. What i find interesting is the 4 hour charts right now. I plotted for wave 5 using the wpt. i am watching now for an abc correction on both the eur and gbp, eur to run it up to the 3000 area, as per the weekly chart. Time will tell.

[durgesh147]

TS3 sell in the direction of daily STF...

[davidl]

Durgesh, how does this fit into your thought process for your short eur aud trade? Or doesnt it matter. Would appreciate your input.

Thanks,

David

[Sejake]

Gunna try this hourly Auzzie TS1 trade out......just triggered.

[Sejake]

Well just getting my power back on from last night (big storm here) and see Auzzie was stopped out for a small 1R loss. At an interesting spot here as well.

[Sejake]

Still short USDCAN and see it made it's way back to the 1st, 1 or A wpt overnight. Waiting to see if it gets support here or it if it can break this wpt and make it's way down to larger 1 or A wpt.

[Sejake]

USD/JPY looking interesting here. In a daily minor 5 wave down and 4 hr TS3 in the works......

[Sejake]

4 hr TS3................

[Sejake]

Targets for anyone else who managed to sneak in at the .382 retracement....

[Sejake]

1st target hit....

[davidl]

nice work getting in at the price you did.

[durgesh147]

Time to look for buy setups on smaller timeframes..

[davidl]

Durgesh, i'm with you on the eur aud. Im watching this potential 1 hour set up with eur cad. Seems to agree with the daily chart.

[davidl]

i usually dont place orders this late in the day, but this looks good. i got a red reversal bar for the last hour, however, i am going to play the entry a bit different. The last 3 bars have not been able to make a new high or low of the previous bar (4th bar back). So i am going to play a break of the 4 candle and play the 3 previous as an inside bar. My chart is wrong, stop should be 4418 not 4416 (plus a tick and spread). R to r is still above 2 to 1 including the spread. Hope i made that clear as mud. Should be fun.

GTA,

David

[davidl]

ugh, no trade for me, spreads were a bit high at 6:30 pm est time. Its a real busy time of day for trading then. :p

[durgesh147]

Moving on nicely....

[timo4sho]

Hi Durgesh,

wasn't this 240 against the daily AUD-USD trade? I have a nice ABC short on the daily that triggered and was moving my way at the time of the 240 ABC long signal.

[durgesh147]

I had been expecting this setup and its going on nicely....:)

[Sejake]

Since the forum is slow today.....here's a 15 min eur/jpy trade I just entered.
Pretty basic trade.....trade idea based on this isolated Elliot Wave formation in progress, trying to catch the 5th wave up.....

[newguy]

does anyone know of a FREE EOD data provider? stocks/forex/futures?
any compatible with MTP?
thanks

[durgesh147]

Any long term trader out there?I have picked a wonderful trade for you ...:p

[Sejake]

Forgot to update Friday's Eur/Jpy trade....
After kissing the min wave 5 WPT for the second time, I let the market take me out just under the red reversal bar.
Utilizing proper position sizing with such a tight stop made it a very nice, quick trade for a Friday....

[timo4sho]

HI THERE,

is there any other way of uploading charts to the forum than using snagit???

If so, please explain how you all do it ;-) Thanks!

[mcdirt]

Timo,

This doesn't have the bells and whistles that SnagIt has but the price is right (free) and it's bloody good .... with no ad-ware either ....

http://www.mirekw.com/winfreeware/index.html

and download MWSNap

[timo4sho]

Timo,

This doesn't have the bells and whistles that SnagIt has but the price is right (free) and it's bloody good .... with no ad-ware either ....

http://www.mirekw.com/winfreeware/index.html

and download MWSNap


Thanks, buddy! Great tool and for free ;)

[durgesh147]

TS3 found...

[durgesh147]

TS1 triggered...

[Rimu]

Durgesh....Yes, on the AUDUSD as well, managed to have a false start about a week ago though... :D

[Steve Griffiths]

But not at the Typical Wave C WPT at the first attempt though :)

Steve

[Rimu]

But not at the Typical Wave C WPT at the first attempt though :)

Steve

Nope, not quite, but it did nail the centre of a tight cluster of three (by my count :confused: ) being ...
A=C
C=Bx1.618
2=1x.786

Mind you, not all nail the the typical zone????

[Steve Griffiths]

Hi Rimu,

Agreed, you can get some great moves off the minumum Wave C WPT as well :-)

Steve

[durgesh147]

Looks ripe for correction.....

[Rimu]

AUDUSD60.... may develop ABC into 4th leg for a push down into 5 ???

[Rimu]

AUDUSD60.... and now maybe time to look out for a leg 5 down????

[Rimu]

AUDUSD60... I think i'll put this one on auto-pilot and head for bed...

[Rimu]

As Sejake posted, interesting times.. auto-pilot took care of the failed leg5 :D , will see how this one pans out...

[Rimu]

AUDUSD60...... Have moved stop to B/E in case this leg turns out to be an impulsive 5 leg push as opposed to ABC correction.

[Sejake]

15 min USD/JPY TS3 overnight.......
Just got out of bed to find the typ wpt target profit had just been hit.
15 min TS2 may be in the works as well....
NICE !!

[Rimu]

AUDUSD60....And thats it for me...

[abc_trader]

two setups which worked great today

http://img147.imageshack.us/img147/8599/myscreenhunterjv9.jpg (http://imageshack.us)


http://img101.imageshack.us/img101/7716/myscreenhunterbf8.jpg (http://imageshack.us)

[Rimu]

AUDUSD60... Trying for an ABC down into a 3rd leg...

[Tony Beckwith]

Hi everyone

A UK forex trader alerted me to this beautiful GBP long set-up, automatically found in RT for eSignal.

The chart says it all!

Thanks

Tony.

[Rimu]

AUDUSD60.. Second shot at an ABC down into 3rd leg... :D

[Rimu]

AUDUSD60... Hasn't reached the 3rd leg target zone yet but has reached the minor Wave (v) minimum zone. :)

[abc_trader]

GBPUSD, H4, sell setup triggered moments ago

http://img226.imageshack.us/img226/11/screenhunter002by8.jpg (http://imageshack.us)

[abc_trader]

GBPUSD, H4, sell setup triggered moments ago




+70 pips up till now in 2 hours:)

[abc_trader]

another GBPUSD H4 sell setup ready to trigger in the coming hours


http://img169.imageshack.us/img169/1276/screenhunter003vn1.jpg (http://imageshack.us)

[abc_trader]

sell setup on EURUSD H4 in the working, we may have the reversal bar in 20 minutes

http://img469.imageshack.us/img469/7058/screenhunter005vr4.jpg (http://imageshack.us)

[abc_trader]

update on the last 2 trades

EURUSD entry was 1.2830, stop was 1.2878, currently trading @1.2770 -> +60 pips


GBPUSD entry was 1.9032, stop was 1.9090, currently trading @1.8970 -> +62 pips

[abc_trader]

update on the last 2 trades

EURUSD entry was 1.2830, stop was 1.2878, currently trading @1.2770 -> +60 pips


GBPUSD entry was 1.9032, stop was 1.9090, currently trading @1.8970 -> +62 pips

closed GBPUSD @1.8950 -> +80 pips

[Sejake]

I know most here don't like the short term forex trades but this 5 min EUR/GBP trade from this morning was so pretty I had to share....:)

[Steve Griffiths]

WOW..........

Over 11x initial risk - now that is what I call a great trade :) well done !

Thanks for sharing...............

Steve

[abc_trader]

the beauty is to share the trade when it triggers like I did not to share it after it ended, this is not sharing, this is hindsight

[Sejake]

Yes this was posted after the fact. I've posted lots of real time charts and results on this forum and others, so don't go there. This was a very quick trade and I didn't have the opportunity to post real time. This was posted because the forum has been quiet for the last few days....and it turned out to be a nice mtp trade. Nothing more than that.

PS...15 min GBP/JPY TS1 triggered not too long ago....looks like it may get stopped out. Unable to post a chart from this puter though.

Sejake

[Matt Bowen]

Hi ABC trader,

I have to agree with Sejake here. I mean why on earth would a trader post a message to the bulletin board before or during his trade setup?

First, of all he's got to get his order executed at the best possible price when day trading and that means not screwing around reading a bulletin board during a trade setup. I don't trade Forex, but I can only assume he's watching the price action and his order execution software.

Second, once he does get the trade filled he's sure as hell not going to wonder off if he has a stop/limit order that we all know "mysteriously didn't get filled" so he now has to to baby-sit the trade until the trade is pulled or completed.

Third, he's probably going to record the trade and adjust his position size on the portfolio so he can get ready for the next trade.

I can't think of one good reason to post a message to a bulletin board while in the middle of a trade... I mean unless Sejake is running an advisor service and people are paying to be spoon fed, that's a different story.

The closest person I've seen to doing this (posting during a setup) is Steve Griffiths and when he does do it's 10 or 15 minutes after the trades is well past the initial 100% risk level.

I'm not trying to blast you here, but I mean c'mon, Sejake's trying to make a buck here and I don't think he's too worried about what time his post gets placed on the bulletin board...and anybody that's trading will respect that.

[Sejake]

NZD TS3 shrt just triggered. Typical target approximately 80 pips away.

[abc_trader]

update on the last 2 trades

EURUSD entry was 1.2830, stop was 1.2878, currently trading @1.2770 -> +60 pips


GBPUSD entry was 1.9032, stop was 1.9090, currently trading @1.8970 -> +62 pips


closed EURUSD @1.2780 -> +50 pips

[Steve Griffiths]

Nice one, a couple of nice profits there - well done :)

Steve

[martinrcox]

Nice one, a couple of nice profits there - well done :)

Steve

Hi Steve,

I have a quick query about these two trades that you mentioned in your daily report yesterday. I think that you mentioned the yen trade as JPY / USD when I think that it is the other way around. Anyway I was wondering if there is a valid TS1 sell set up showing for these two pairs where in effect for one you are expecting the dollar to weaken (the yen trade) and for the other for it to strengthen (the pound trade) whether you would think twice about taking both the trades.

I would be most appreciative of your views

[Steve Griffiths]

Hi Martin,

I try not to think too much :)

And as such I just look at the set-ups as they come though, so all I know at this point in time is that the short trade from the recent TS1 sell in the GBP/USD has reached the first porfit target and is sitting on a profit of approx 2x the initail risk ............... and with stops on the JPY trade at break even we shoudl be coverd whatever unfolds :)

Steve

[davidl]

im curious if this came up on any body's scanner today. This is a 4 hour euro usd chart that i manually drew. Or if it came up on a 1 hour chart. For some reason it did not come up on mine, so i didnt take the trade. Have to follow my personal trading rules for the time being.

[abc_trader]

not realtime
a sell setup triggered on USDCHF , H3 timeframe
entry -> 1.2371
stop -> 1.2400

[Biggo]

Potential long on aud/usd 4hr

[Biggo]

Potential long on aud/usd 4hr

OOPS !!!!!:o :o

[abc_trader]

not realtime
a sell setup triggered on USDCHF , H3 timeframe
entry -> 1.2371
stop -> 1.2400


price went down to more than 1x initial risk to 1.2330, set stop to breakeven, closed trade @1.2371 -> 0 pips

[abc_trader]

buy setup on GBPUSD, H8
we had the reversal bar,
entry -> 1.8780
stop -> 1.8728

[abc_trader]

buy setup on GBPUSD, H8
we had the reversal bar,
entry -> 1.8780
stop -> 1.8728

setup cancelled, entry was not triggered, price went below stop

[abc_trader]

possible buy setup on GBPUSD, H6
time left for current bar is 155 min,
IF current bar ends as a reversal bar then buy at the high of the bar, stop is 1.8615

[abc_trader]

possible buy setup on GBPUSD, H6
time left for current bar is 155 min,
IF current bar ends as a reversal bar then buy at the high of the bar, stop is 1.8615


setup triggered @1.8658, current price is 1.8681 -> +23 pips,
move stop to break even once price reaches 1X risk, i.e. move stop to 1.8658 once price reaches 1.8701

[abc_trader]

setup triggered @1.8658, current price is 1.8681 -> +23 pips,
move stop to break even once price reaches 1X risk, i.e. move stop to 1.8658 once price reaches 1.8701


currently +72 pips, we reached a profit of 2x risk (1.8744) an hour ago, closed half position at 1.8744, set stop on 2nd half to break even

[abc_trader]

currently +72 pips, we reached a profit of 2x risk (1.8744) an hour ago, closed half position at 1.8744, set stop on 2nd half to break even

moving stop on 2nd half to 1.8685

[Steve Griffiths]

Hi ABC trader..........

Some nice trades here - well done :)

Keep em' comming......

Steve

[abc_trader]

Hi ABC trader..........

Some nice trades here - well done :)

Keep em' comming......

Steve

Thanks Steve,

sell setup on daily USDJPY
entry -> 117.39
stop -> 118.14

[abc_trader]

moving stop on 2nd half to 1.8685

closing 2nd half of GBPUSD trade @1.8768 -> +110 pips (nearly 3x risk)

the daily USDJPY setup triggered

[abc_trader]

If I'd just used the ATR stop in the last GBPUSD trade it would have been up +240 pips now

lesson learned :mad:

[Eddo]

Hi All,

I havent posted on here for a while and this one is really a bit late - sorry - but I hope some other caught this one which is going like an absolute train so far.

My only reserve was that the B-C leg looked a little long but I went long £8 per point at 6373 and its currently at 6601 - my stop is now in at 6580 which will guarantee 207 pips for a 6.4R gain - wonderful :)

[abc_trader]

sell setup on EURUSD H4

entry -> 1.2715
stop -> 1.2738

[davidl]

chris fyi, something must have been up with nzd. i caught this one with nzd jpy on the 4 hour. i did get stopped out at b/e with nzd usd.

[davidl]

heres a better pic

[Biggo]

chris fyi, something must have been up with nzd. i caught this one with nzd jpy on the 4 hour. i did get stopped out at b/e with nzd usd.


Hi Davidl

NZ reserve bank governor suggested interest rates may have to rise soon !!!:D

[davidl]

Hi Davidl

NZ reserve bank governor suggested interest rates may have to rise soon !!!:D

thank you bank governor, LOL

[abc_trader]

sell setup on EURUSD H4

entry -> 1.2715
stop -> 1.2738


it is a friday, CPI news after 20 minutes,
closing position @1.2675 -> +40 pips

[d-day]

Hey ABCTrader,

Thanks for posting that set-up. I haven't traded forex in about year, but I took that set-up (enter on stop w/auto stop-loss last night before heading to bed). Closed out this morning for nice profit.

Thanks again,

David Day

[abc_trader]

Hey ABCTrader,

Thanks for posting that set-up. I haven't traded forex in about year, but I took that set-up (enter on stop w/auto stop-loss last night before heading to bed). Closed out this morning for nice profit.

Thanks again,

David Day

glad to hear u made some profit from it

[Eddo]

Hi All,

I havent posted on here for a while and this one is really a bit late - sorry - but I hope some other caught this one which is going like an absolute train so far.

My only reserve was that the B-C leg looked a little long but I went long £8 per point at 6373 and its currently at 6601 - my stop is now in at 6580 which will guarantee 207 pips for a 6.4R gain - wonderful :)

I was stopped out at 6580 last night and got my 207 pips - but just a point for those with keen eyesight - you might be wondering why with the eSignal entry point on the chart I posted at 6363 and I entered at 6373 ! The answer is that I am actually trading on the CMC data.

[abc_trader]

Thanks Steve,

sell setup on daily USDJPY
entry -> 117.39
stop -> 118.14

stopped out -> -75 pips

[d-day]

Well, you win some and you lose some. I didn't take the USDJPY trade since the stop was >50 pips - I like to keep my risk at $500 or less per trade.

It is exciting, however, to see how well MT Predictor works on the forex markets. I have stayed away from the forex for almost a year now, but I have stepped back in (baby-stepped, that is) since discovering MT Predictor.

Keep the set-ups coming, abc trader! Also, do you take every set-up that is signalled, or do you use STF or some other indicator as a confirmation filter? Personally, when I traded forex more, one of my favorites to look for is simple MAC/D divergence.

Good trading to you!

[abc_trader]

Well, you win some and you lose some. I didn't take the USDJPY trade since the stop was >50 pips - I like to keep my risk at $500 or less per trade.

It is exciting, however, to see how well MT Predictor works on the forex markets. I have stayed away from the forex for almost a year now, but I have stepped back in (baby-stepped, that is) since discovering MT Predictor.

Keep the set-ups coming, abc trader! Also, do you take every set-up that is signalled, or do you use STF or some other indicator as a confirmation filter? Personally, when I traded forex more, one of my favorites to look for is simple MAC/D divergence.

Good trading to you!

it doesn't matter how large is the s/l as long as we don't risk more than 3% of the account, I filter signals on metatrader using a combination of indicators

[d-day]

I keep my risk @ 1% which in my case is $500. I'm not using a strict $dollar amount stop. In order for me to be able to "afford" to take any position, the risk per lot must be <= 1% which is $500.

I'm too chicken to risk 3% on any one trade. It's bad enough when I get a string of 10 or 12 losses and find myself out 5-6 k. I would have a tough time pschologically muscling through a 15-18K drawdown given the small size of my trading capital.

[davidl]

this looks like a good looking ts4 on the 1 hour euro usd chart. Looking for reversal bar now. I also drew the intermiate pivots on there as well.

David

[abc_trader]

possible sell setup on EURJPY H4, reversal bar didn't happen yet, waiting for a reversal bar and price exceeding the low of the reversal bar

http://img70.imageshack.us/img70/7869/myscreenhunteryb6.jpg (http://imageshack.us)

[abc_trader]

possible sell setup on EURJPY H4, reversal bar didn't happen yet, waiting for a reversal bar and price exceeding the low of the reversal bar


the setup was triggered, we had the reversal bar,
entry was -> 149.78
stop was -> 150.24

currently -> +100 pips

http://img140.imageshack.us/img140/4304/screenhunter027ue0.jpg (http://imageshack.us)

[abc_trader]

this looks like a good looking ts4 on the 1 hour euro usd chart. Looking for reversal bar now. I also drew the intermiate pivots on there as well.

David

nice one David, I also had this setup on the H1 and H2 timeframes but didn't take it because in forex I prefer H4 and higher time frames

[pauli134]

I am considering trading forex (I do not currently ) and wonder if you could recommend some time frames and pairs to watch and might recomend some after hours reading on the forex markets ( how they trade differently from other instruments etc....)

Thx for your help

[abc_trader]

I am considering trading forex (I do not currently ) and wonder if you could recommend some time frames and pairs to watch and might recomend some after hours reading on the forex markets ( how they trade differently from other instruments etc....)

Thx for your help


the volatility in forex is so high so I prefer working with 3H(3 hours), 4H ( 4 hours), 6H, 8H, and daily charts,
try this site for intro into forex http://www.babypips.com/

[pauli134]

Thx for your help...

[davidl]

nice one David, I also had this setup on the H1 and H2 timeframes but didn't take it because in forex I prefer H4 and higher time frames

abc- i didnt take that trade, couple of reasons. First, price went beyond the typ wave c area, and second my isp went down. I wont say who my isp provider is, but Im not happy with Comcast today. :p Hope you took it. fyi, If you throw fibs up on it, it was a great looking bat pattern.

David

[abc_trader]

sell setup on USDCAD H4, we had reversal bar
entry -> 1.1269
stop -> 1.1285

targets: 1.1175 and 1.1107

http://img65.imageshack.us/img65/6048/myscreenhunterqj3.jpg (http://imageshack.us)

[abc_trader]

sell setup on USDCAD H4, we had reversal bar
entry -> 1.1269
stop -> 1.1285

targets: 1.1175 and 1.1107



setup cancelled as price exceeded 1.1285, will wait for another reversal bar

[abc_trader]

setup cancelled as price exceeded 1.1285, will wait for another reversal bar

another reversal bar just finished,
entry -> 1.1263
stop -> 1.1286

[abc_trader]

another reversal bar just finished,
entry -> 1.1263
stop -> 1.1286

stopped -> -23 pips

[abc_trader]

the setup was triggered, we had the reversal bar,
entry was -> 149.78
stop was -> 150.24

currently -> +100 pips


closing @148.60 -> +118 pips

[abc_trader]

sell setup GBPUSD H4
still 45 minutes for reversal bar to close

entry -> 1.8863
stop -> 1.8928

targets: 1.8745, 1.8632

http://img126.imageshack.us/img126/208/myscreenhunterym7.jpg (http://imageshack.us)

[d-day]

entry: 1.1256
stop: 1.1297

If I'm reading the chart correctly, that is. A nice tight stop with r/r around 6:1 at targets 1.1018 - 1.0975.

[AndyvB]

entry: 1.1256
stop: 1.1297

If I'm reading the chart correctly, that is. A nice tight stop with r/r around 6:1 at targets 1.1018 - 1.0975.

Yes you are reading the chart correctly. I have exactly the same except I have it on the futures in Chicago CME long the Canadian dollar.

[martinrcox]

entry: 1.1256
stop: 1.1297

If I'm reading the chart correctly, that is. A nice tight stop with r/r around 6:1 at targets 1.1018 - 1.0975.

Hi David,

I am not trying to put you off this trade as I think that there is a probability of a reversal at around this point. However if you look at the attached weekly charts it looks like this pair is forming an ABC correction in this time frame. So I am not sure that if there is a reversal it will reach the targets shown on your chart. Anyway who knows !!

I hope that this is helpful

[davidl]

here is a not so good looking ts4 on the 1 hour us cad chart:) . i drew a wave 1 on the chart as a target. With spreads, the r to r is really closer to 2.8 to 1.

[d-day]

entry: 1.1256
stop: 1.1297

If I'm reading the chart correctly, that is. A nice tight stop with r/r around 6:1 at targets 1.1018 - 1.0975.


Well, I'm short from 1.1253 current ask @ 1.1230 +23 pips. Stop is at 1.1297 so 47 pip risk (I set my sell stops with my broker to execute when stop price is the ask and my buy stops execute when the stop is the bid, thus, in this case for example, there is a 3-pip difference between stop price and execution price).

[abc_trader]

sell setup GBPUSD H4
still 45 minutes for reversal bar to close

entry -> 1.8863
stop -> 1.8928

targets: 1.8745, 1.8632


setup didn't trigger, still waiting for a reversal bar and a break of it

[davidl]

possible ts4 on the 4 hour nzd jpy chart

[d-day]

Well, I'm short from 1.1253 current ask @ 1.1230 +23 pips. Stop is at 1.1297 so 47 pip risk (I set my sell stops with my broker to execute when stop price is the ask and my buy stops execute when the stop is the bid, thus, in this case for example, there is a 3-pip difference between stop price and execution price).



Currently offered @ 1.1137 (+116 pips) moving stop to 1.1201 (8 pips above 34 60 minute EMA). I do not like holding open currency positions over the weekend, so unless the USD collapses into the close, I will close this position by the close of business today.

[abc_trader]

setup didn't trigger, still waiting for a reversal bar and a break of it

now we had another reversal bar,

entry : 1.9006
stop : 1.9062


http://img59.imageshack.us/img59/6956/screenhunter030yd6.jpg (http://imageshack.us)

[davidl]

a ts 4 with e/j on the 1 hour chart. Fibs match up for a perfect gartley.

[Steve Griffiths]

Hi Guys,

Well done ABC Trader - a great call on the 240min GBP - as you can see, this trade was also found as a Major TS3 sell in eSignal.

With the Pound continuining to decline this is turning out to be a very nice trade indeed.................... nice one :)

Steve

PS, this also folows on from a nice Major TS1 buy that took you into the high :) and also a great TS3 sell from a week or so ago, so the GBP has been very kind to us recently :)

[Biggo]

Hi Steve

Also nice Advanced ABC on eur/gbp working nicely.
Interestingly there is also a potential advanced ABC setting up on Weekly chart so may be good longer term opportunity.
I would be interested on your thoughts on combining the two if things work out

Cheers:)

[rosow]

Biggo,
I wouldn't call this a valid advanced ABC. The ABC is not retracing a prior wave. The low of wave C is lower than the low of the wave it's retracing. I think per Steve's guidelines this is a pass.

Regards,
Lenny


Hi Steve

Also nice Advanced ABC on eur/gbp working nicely.
Interestingly there is also a potential advanced ABC setting up on Weekly chart so may be good longer term opportunity.
I would be interested on your thoughts on combining the two if things work out

Cheers:)

[matobe]

Hi Steve

i use the same esignal chart just like yours but unfortunately the setup was not there, i dont understand what happen to the ts3 setup because i don't have the setup in my chart.





Hi Guys,


Well done ABC Trader - a great call on the 240min GBP - as you can see, this trade was also found as a Major TS3 sell in eSignal.

With the Pound continuining to decline this is turning out to be a very nice trade indeed.................... nice one :)

Steve

PS, this also folows on from a nice Major TS1 buy that took you into the high :) and also a great TS3 sell from a week or so ago, so the GBP has been very kind to us recently :)

[martinrcox]

As you will see there is a possible TS1 forming in this pair. At present there is a red bar for today if this stays like this there may be a valid set up tomorrow. The only thing I do not like is how close the high of the top of the C leg is to the high of the previous wave but it is below it

[martinrcox]

I don't know whether anyone else caught this one that I posted on Tuesday. Anyway it had a strong move down yesterday :) so stops can be moved to break even as it has reached 100% of initial risk (ex commission)

As you will see there is a possible TS1 forming in this pair. At present there is a red bar for today if this stays like this there may be a valid set up tomorrow. The only thing I do not like is how close the high of the top of the C leg is to the high of the previous wave but it is below it

[Biggo]

Opinions on the Eur/Usd would be welcomed.
Looks bullish to me but would like to hear from more experianced FX traders

Cheers:)

[Eddo]

I thought this was a nice looking potenital daily setup with a healthy looking R:R. Whilst the weekly STF isn't brilliant it is still in the black and so all in all I think this one would be worth a go - any thoughts from any of you experienced Forex people would be appreciated :)

[miguel]

I thought this was a nice looking potenital daily setup with a healthy looking R:R. Whilst the weekly STF isn't brilliant it is still in the black and so all in all I think this one would be worth a go - any thoughts from any of you experienced Forex people would be appreciated :)


Hello Cris. I have a sell stop at 1.1320 for the usd/cad. This is from my trading method. It's nice to see that mtp confirms my ideas :)
I think this will be a good trade, if we get there...
Take care! ;)

[martinrcox]

I thought this was a nice looking potenital daily setup with a healthy looking R:R. Whilst the weekly STF isn't brilliant it is still in the black and so all in all I think this one would be worth a go - any thoughts from any of you experienced Forex people would be appreciated :)

Hi Chris,

I would not call myself experienced !! For what it is worth here are my views on USD/CAD. I have been long this pair since 8th Sept and I am now up about 200 pips :). I took the trade as a manual setup based upon the forming of a C leg on the weekly chart (please see below). As you can see it looks to be making an ABC correction on the weekly time frame.

There was a sell set up on the daily chart for this pair posted by David Day post number 686 on this thread on 21st Sept. Here is the link and you can see my reply number 688

Dayhttp://www.mtptrader.com/showthread.php?p=5121#post5121

My view at the time was that there was going to be a reversal (the 5 period RSI was at 77) but that it would not take out the prior low of 31st August. That proved to be right and it formed an A and B leg on the daily chart before moving up to the current levels.

My thoughts at the current level is that there will be some kind of reversal. I use the 5 period RSI based upon the close and when it reaches about 80 which it did yesterday some kind of correction/consolidation usually happens. However I do not know how much of a correction will take place as it has close above the level of the typ wave C. I still think that the weekly trend will end up reaching its min or typ wave C wpt.

I hope that this helps and is not too complicated to follow

[miguel]

I have been long this pair since 8th Sept and I am now up about 200 pips :).

Well done! ;)

[Eddo]

Hi Chris,

I would not call myself experienced !! For what it is worth here are my views on USD/CAD. I have been long this pair since 8th Sept and I am now up about 200 pips :). I took the trade as a manual setup based upon the forming of a C leg on the weekly chart (please see below). As you can see it looks to be making an ABC correction on the weekly time frame.

There was a sell set up on the daily chart for this pair posted by David Day post number 686 on this thread on 21st Sept. Here is the link and you can see my reply number 688

Dayhttp://www.mtptrader.com/showthread.php?p=5121#post5121

My view at the time was that there was going to be a reversal (the 5 period RSI was at 77) but that it would not take out the prior low of 31st August. That proved to be right and it formed an A and B leg on the daily chart before moving up to the current levels.

My thoughts at the current level is that there will be some kind of reversal. I use the 5 period RSI based upon the close and when it reaches about 80 which it did yesterday some kind of correction/consolidation usually happens. However I do not know how much of a correction will take place as it has close above the level of the typ wave C. I still think that the weekly trend will end up reaching its min or typ wave C wpt.

I hope that this helps and is not too complicated to follow

Greetings and very many thanks for your input -

I'am going to keep an eye on this and might take the short setup if it triggers but in view of the weekly trend will hold very tight stops and be watching even more closely if we get down to around the 31st August lows

Many thanks again - Chris

[martinrcox]

Greetings and very many thanks for your input -

I'am going to keep an eye on this and might take the short setup if it triggers but in view of the weekly trend will hold very tight stops and be watching even more closely if we get down to around the 31st August lows

Many thanks again - Chris


Hi Chris,

The 31st August appears to be the end of the B leg on the weekly chart the end of the B leg on the daily chart is the low of 28th Sept which stands at 11087. So there are quite a few pips (about 250) between this low and the current level. I only tend to trade daily or weekly set ups but if I was to look for a short trade at this level I would be probably be trying to find a good looking pattern on the 4hr charts. Like I said I think that there will be a reversal but whether it turns into a good short who knows

[pauli134]

A quick off the subject question...Does anyone out there speak both Tradestation and Esig...? Or can anyone read an Esig indicator code and translate it into english for me...? I have some esig code for an indicator I would like to turn into an TradeStation indicator...but I can't make heads nor tails of the esig code....Thanks if anyone can help...

[Eddo]

Hi Chris,

The 31st August appears to be the end of the B leg on the weekly chart the end of the B leg on the daily chart is the low of 28th Sept which stands at 11087. So there are quite a few pips (about 250) between this low and the current level. I only tend to trade daily or weekly set ups but if I was to look for a short trade at this level I would be probably be trying to find a good looking pattern on the 4hr charts. Like I said I think that there will be a reversal but whether it turns into a good short who knows

Hi Martin,

As you know I tend not to try to analize the longer term Elliot picture (mainly because when I do I get totally lost) and instead go for what seems to me like a nice pattern combined with a 'check' or two - STF, Trin etc.

For me (looking at this setup in isolation) this one looks fine and I have just been triggered short at 1.1329 with an initial tgt (Wave1 or A) at 1.1050 for a 279 pip gain which for me would be a £1,674 gain for a £396 risk (i.e. looking for a minimum 4R gain on this one.

Lets see how it does - Chris

[Sejake]

Maybe time for a bit of a reprieve on GBP....(4 hr chart)
5 waves up at typical wave 5 wpt, red reversal bar and some fib time support.
Approx 5X risk to 1 or A wpt target....just a thought....

Sejake

[Sejake]

Ok a bit early on the last one, end of 3 not 5.......let's see if this one works any better....maybe a 2 or B entry setup for next week.

:) Sejake :)

[ronnimar]

ts3 in the cad

[davidl]

hey ronnimar, when did you get mtp? Welcome to the forum.

David

[Sejake]

Maybe close to long time for GBP? Will be watching the .62 & .78 retraces for reversal signals....

[Steve Griffiths]

Well the TS1 buy set-up on the 240min USD/CAD that I mentioned in todays report looks to be working out nicley :)

Steve

[Steve Griffiths]

Maybe close to long time for GBP? Will be watching the .62 & .78 retraces for reversal signals....

Hi Sejake,

Brilliant, looks like you nailed that one perfectly........... nice one

Steve

[Steve Griffiths]

Hi Guys,

The new Decision point nailed to low perfectly on the 60min chart.

With the ATRStop keeping you long, what a great trade

Steve

PS, before you all ask - agree, the TS4 at the low was not ideal, it was the Wave 1orA decision point WPT that was the main support zone (and the blue buy bar at this support) that was the reason for the trade...

[ronnimar]

Well the TS1 buy set-up on the 240min USD/CAD that I mentioned in todays report looks to be working out nicley :)

Steve

very nice trade indeed

[Duane]

Please look at EUR/USD chart for possible ABC reversal

[ClaphamTrader]

Please look at EUR/USD chart for possible ABC reversal
Hi Duane,
What timeframe are you looking at?
I can't see any reversal.

[Duane]

Daily chart

[Steve Griffiths]

we need a reversal bar to complete tommorrow before we can consider this as a potential Wave C high..........

[ClaphamTrader]

Daily chart
Thanks. It's come up on my Daily chart now. TS also shows it on the 4hr chart as well.
On the daily it's alos near the upper Bollinger band as well.
Let's see how it unfolds over the next day.

[Sejake]

Hi Sejake,

Brilliant, looks like you nailed that one perfectly........... nice one

Steve

Hi Steve,
Sorry been out of commission for a bit here...electical storm zapped computer.

This is what I'm looking at now, completion of wave 5 (some nice shorter term targets coming up) and maybe a longer term target into Decision Point?

[Sejake]

Just playin with the auto EW....cool stuff...:)

[davidl]

is anybody watching this one? 4 hour us chf chart. Im just waiting for a reversal bar. Doesnt get any prettier for a gartley pattern.

[martinrcox]

This trade has now reached the min wave C wpt. I know that I said that you could move your stop to breakeven on 6th October. I did not do this and gave it a bit more time to ensure that it had moved away fully. Which proved to be the right decision as you can see from the next attachment.

I hope that some of you caught this trade that was posted before it triggered

[Sejake]

After a week with no data I was finally up and running late last night.
First trade back this morning was a nice looking TS2 on 30 min USDJPY.
Just returned home to find target hit at just about 5 R.....NICE.....would still like to be in if was here to monitor it.

Regards

[Sejake]

Here's a realtime entry on GBPUSD. 15 min TS3. Just triggered.
May be a bit early.....

[Sejake]

ok nothing ventured, nothing gained.....stopped out at +1 after hitting 100% line.

[Sejake]

30 min USDJPY TS1 just triggered...

[Sejake]

Follow up to above USDJPY post....
Although price hit min WPT target I was stopped out at +1 while sleeping.

[Sejake]

Very nice looking 4 hr NZD TS3 in the works right now....

[Sejake]

Along with NZD above, Aussie 4 hr TS3 also in the works.....

[Sejake]

Both Aus and NZD cancelled..new low prior to bar completion...

[Sejake]

ok...valid entry on Aussie....triggered and at 100% initial risk line.

[Sejake]

15 min EurCan just triggered....

[Sejake]

Booked +17 pips...taken out by market at WPT...fun fun fun

[Sejake]

1 HR EURJPY.....TS3just triggered.

[Sejake]

Update to above...Aus stopped. EURJPY hourly technically stopped. New EURJPY hourly long triggered a few pips lower at typ WPT and working well.

[Steve Griffiths]

Short GBP off the recent DP high,

A great example of the new (upcoming) DP (Decision point) trade in the 240min USDGBP

Steve

[Sejake]

Maybe time for a little bounce consolidation here on 4 hr GBP...

[Sejake]

USDCAN coming up to interesting spot.....

[Sejake]

GBP holding up....should at least make it to .382 retrace...

[martinrcox]

This trade has now reached the min wave C wpt. I know that I said that you could move your stop to breakeven on 6th October. I did not do this and gave it a bit more time to ensure that it had moved away fully. Which proved to be the right decision as you can see from the next attachment.

I hope that some of you caught this trade that was posted before it triggered


I have closed this trade as you can see it has just reached the Typical wave 3 WPT for a R/R of 5.1 exc commission. It turned into a great trade :o

[Eddo]

I have closed this trade as you can see it has just reached the Typical wave 3 WPT for a R/R of 5.1 exc commission. It turned into a great trade :o

Very nice trade Martin.

I have had my eyes away from the Forex markets for the last couple of months but I think that with the one way traffic in the equity indices, I need to be looking at my forex page again - Chris

[martinrcox]

Very nice trade Martin.

I have had my eyes away from the Forex markets for the last couple of months but I think that with the one way traffic in the equity indices, I need to be looking at my forex page again - Chris


I agree with you on the one way traffic with the equity markets. Unlike you I do not trade intraday only daily and weekly set ups. That means with the indices going up in a straight line there are no trades to be had in these time frames on indices. Whilst with forex because of the variety of different pairs that you can trade combined with the amount of volatility (I mean on a month by month basis) there tends to be more trades to be had

[Sejake]

GBP target made at .382 retrace....

[Sejake]

UsdCan target also met....