My Forex Prediction using Advanced GET - page 38
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Elliot wave is always fascinating.
I am shorting on EU now
Hi,
Good info.
Do you make these EW using software or by your counting skill?
Thanks.The Wave Labels that you see in the EW charts are generated by GET software. Although I can do the wave count manually, I still prefer to use GET to do it since their software has been around for many years.
The calculation of the approaching date of Sep 21, 09 was done manually by using Fibonacci series.
If there are any other areas you like to know about EW or Get, please feel free to drop a post.
Elliott Wave Theory may NOT be the Holy Grail, but it is a good technical tool to use, and when used in combination with other technical tools, it helps in our trade decisions.
Regards
Kenneth
Elliot wave is always fascinating. I am shorting on EU now
You are bolder than me. I am waiting for the Stochastics (5-3-3) to hook below 80 level and hope a new down price channel has also been formed, confirming that the trend is going down, then I will start shorting it.
And coupled with a weakening Dollar, the odds are better.
Elliott Wave Theory is indeed a fascinating theory although sometimes confusing and at times "too true to be true". But for me, it is an additional good technical tool to use, and combined it with your favorite technical tools, it will be a tremendous help in your trade decision.
If you have any areas in EW, you like to bring up to discuss, please feel free to do so. You are always welcome.
Regards
Kenneth
The latest news I have received through email is:-
Quote:
Sterling Dives on Renewed Banking Concern, Dollar Losing Downside Momentum.
Unquote
I would interpret this to mean that we can expect GBPUSD to go down and EURUSD to go down (when the Dollar stops falling and gradually rebounces).
At time of writing, EURUSD has its Open to Low 71 Pips Down whilst GBPUSD has its Open to Low 141 pips down.
If both these currency pairs end the day down, then it is likely there will be a change in the EW structures of these 2 currency pairs.
Kenneth
I shall be taking a rest tomorrow (Sat) but on SUNDAY 20 Sept 09 I shall be doing a comparative study of Daily and Weekly EW charts to take a look at both the shorter term and the longer term of our portfolio and see where the trading opportunities are.
As usual, it will be around EST 4:00 am (NY) that this report will be posted.
Kenneth
Next week (starting Sept 21) will be an important week for me, as during the last few days I have mentioned from time to time in my postings that Sept 21 ie Monday will be the date the Fibonacci Time Studies are indicating a change of direction for the EURUSD.
It will be the first time I am introducing Fibonacci Time Studies in my postings. I will not be as precise as what the Fibonacci calculations and rather give the date forecast plus/minus 2-3 days. This will make Sept 21 to Sept 23 ie 3 days when I would expect the Fibonacci Time Study forecast to be in place. WILL IT COME TRUE??? - that is something I want to know.
Two things both readers/traders and myself like to know. (1) At WHAT LEVEL does it come to an end and (2) WHEN WILL THIS HAPPEN? A “near enough” level and date will be good enough for us all.
In theory and in reality, everything will come to an end at some point in time. Where and When are the questions.
The EURUSD has been a case study for me. I have seen this currency pair moving up from Mar 04 this year. After it hit Wave 3, it retraced to Fibonacci Ratio of 61.8% to become Wave 4 and thereafter it resumed its upward path, generating strong “buy” signals and on Jun 16 it started its consolidation but nevertheless edging up gradually until Sep 08 it picked up momentum. Signs of waning buying interest began to surface firstly with a Negative Divergence Oscillator and GET started to call its TYPE 2 SELL.
Although the Sell signal was initiated, the EURUSD kept its stand and this was when I started to take an interest to do a study further using Fibonacci Time Studies.
If the Fibonacci Time Forecast proves to be “good” to be used, then in future I shall add this Time Study into our EW charts. Especially for position holders using Daily charts, with time forecast at least I know when a Primary or a Subwave Cycle will end, and I can hold my position until that time. In this way, I shall be able to capture more pips and get out around the date forecasted.
(Just this week, I used another software Fibonacci Trader to do these date forecasts for me to trade in the Malaysian stock market, and I have been successful in my last two trades. Unfortunately, this software does NOT read csv files from MT4, so unable to use it for forex. For forex, I had to count manually using Fibonacci series.)
Kenneth
Hi kenneth,
Seek your advice on an important question that I have. Just registered with this site today and dont know how to send you a private mail. Can you please send me a mail at gann68uk@yahoo.co.uk? I have noticed that you trade with AGet and Elwave and it is about that.
Many thanks.
Hi kenneth,
Seek your advice on an important question that I have. Just registered with this site today and dont know how to send you a private mail. Can you please send me a mail at gann68uk@yahoo.co.uk? I have noticed that you trade with AGet and Elwave and it is about that.
Many thanks.I myself cannot also remember how I was able to send Private Mails (they called it PM).
I hope some readers can help you in this respect.
Meanwhile I shall email you at your email address. Glad to help you or any readers who want to know more about Get or Elwave or even Fibonacci Trader.
Regards
Kenneth
Usually how do I know when will the wave end or when the count becomes invalid?
Do you know other software that can calculate EW other than AdvanceGet?
thanks.