well that 1.4730 resistance was too strong and price reversed, so the 5th wave ended very early. Lost about 62 pips including spread, closed at 1.4624. EDIT: I do stil see prices going higher as it has hit another support zone around 1.4500. Heres a ...

Elliot Wave and Fibo for the Newbies

strong support at the 1.4600 level. I stil favour the long to 1.4830. May even go to 1.4900. I dont trade the news so this is why my view is different to a lot of you guys.

Cable Update (GBPUSD)

I do however see strong resistance at 1.4730 so may have to close out if this level is too strong.

Elliot Wave and Fibo for the Newbies

Entered at 1.4682. SL at 1.4540. TP1 at 1.4840.

Elliot Wave and Fibo for the Newbies

i see it going to 1.4840.

Cable Update (GBPUSD)

Look at the monthly chart, u will see

Cable Update (GBPUSD)

Overnight price did find small support around 1.4645 but broke through and hit the stop at 1.4565. So another 9 pips was made. Minus the spread of 4 pips = 5 pips. Total pips made 119. If price breaks 1.4660 I will enter another two positions with ...

Elliot Wave and Fibo for the Newbies

Also an interesting thing to point out I have fibbed this inside wave without even realising it was an inside wave till i read your thread. By my fibs it has completed wave 3 at the 'F' wave of the inside wave ie. the wave exiting the inside wave.

Inside The Wave

Thanks T4eva, im tryin to understand elliot wave a bit more I just find the patterns difficult to recognise. I wasnt too sure before but u confirm my belief that it has to have developed somwhat. Do you no of the particular fibs that these waves ...

Inside The Wave

Hi trader4eva, I am also interested in fibs and elliot wave. How do you determine those more complicated patterns i.e. the 'a' 'b' 'x' 'd' etc? Do you know how you recognise gartley paterns and butterflys?

Inside The Wave

P & F charts dont work on time, its pure price. So the highs will match the price but it does not go with time. Each time price moves a certain amount a new level is drawn untill price reverse then it moves a long one block. Edit: Hanover do u think ...

Trading with "Point And Figure"

Hit target of 1.4670. Another 45 pips. Total = 114. Now move stop to around 1.4565. I expect a retracement now to around 1.4660. If it breaks 1.4660 then next reversal shud be around 1.4585. However if a candle closes below 1.4575 then close ...

Elliot Wave and Fibo for the Newbies

The reason price wud fall in the first place is that there is no demand at that level, so price falls untill it reaches demand. Then Once Supply is eaten up price will rise. Its an on going battle. Yes u are sort of correct that supply wud run down ...

mass psychology and self-fulfilling TA

Ok so partial profit taking out at the 1.4625 level. We have caught 69 pips. Now move sl to 1.4540. Whatever happens we made profit. If price closes below 1.4570 close all positions because it invalidates the move. Next target is 1.4670.

Elliot Wave and Fibo for the Newbies

Yes they shud be called ' Why I cant make fibs work' and 'why i cant make indicators work'

Why Fibonacci Retracements are Bullocks

It actually makes forex sound like a lot of fun all of a sudden.

Lusan's trade Journal

Ok now stop loss move to 1.4520. Always trying to reduce risk, yet still give good space so not to get stopped out.

Elliot Wave and Fibo for the Newbies

I am not trading real cash atm, but ill add my idea of a good return in forex. I wud consider learning a profitable strategy and spending days perfecting analysing untill finally u have something that will make u money consitantly, regardless of the ...

What is considered a good return?

I love this method of controlling your own army! it is an awesome idea! Its effectivly making it like a game of strategy which supprisingly it is. Awesome now I can trade forex like its a game, LOL.

Lusan's trade Journal

Ok at the moment we wait for price to break a resistance level around 1.4570. If price breaks this level partial profit target is at 1.4625 as there is strong resistance at this level. If however price breaks this 1.4625 the next target is 1.4670. ...

Elliot Wave and Fibo for the Newbies