My Forex Prediction using Advanced GET - page 84
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Just what it is you see special? The double top? It's not confirmed yet! It's still up to me. In fact for now it a flat hold till it break, but the probabilities are for up. Humm... I just checked the chat, it did break up...
Dear GY,
I was not aiming at a Double Top at all, in fact if you scan the pic you will see that i have marked wave V OF 5 ( and (B) should be C,(my bad)) near the upper trend line, where the price area is at 1.5300/450 something. where i do see a chance to the pair to reach near or at, and reverse.
Thx
Dear Rabi, Your 5 is a possibility, among many others. Probabilities are heading higher. As with gold. I actually wouldn't start thinking bearish before a break of the 4700ish. This probability it fading away very fast. US is so indebted...
Excerpt from the Daily Pfenning newsletter:
The perception in the markets is that as long as the U.S. keeps the stimulus measures in place, the global recovery will continue to gain terra firma. And a global recovery means wider interest rate differentials to the U.S., and... That the deficit situation in the U.S. will continue to grow way past the already "unsustainable" levels... We all know, and they all know, that we all know, that they know, that this is all "part of the plan" (and not the Dan Fogelberg song!), to get the dollar to do a "magic trick" and change from a $20 to a $5, so that paying back the debts isn't as difficult to do!
So the moral is, wait for a dip and BUY GOLD.
If there is gonna be "intervention" on JPY, it's time or never..
Tomorrow, Friday, Nov 27, is Thanksgiving Day and it is a public holiday in US and in other Western countries. In Malaysia, our stock market will also be closed for Thanksgiving Day.
I forgot about this until GY reminded readers on this. Thanks, GY.
During this time, markets will be quiet and volumes are expected to drop. Some market analysts have warned that though these are periods of low volume, it is also a period of volatility. Where there are not many buyers and sellers around, it is easy for manipulators to juggle prices??? - that is what these guys say – I saw it in CNBC.
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For me, there will be no trading with GET for these 2 days and I am taking the opportunity to take 4 days off with my family to go to our Malaysian favorite seaside resort in Port Dickson and take my mind off the stock market and the forex market – swimming and relaxing and enjoy the sunrise and sunset along the sand beach of Port Dickson.
I hope you guys that instead of bickering on this and that issue over the weekend, spend your time going through your currency pairs charts (whether it is GET, Elwave or any others) and figure out WHETHER YOUR CURRENCY PAIR is going UP or DOWN or Sideways – so that you will be ready to trade on Monday. Don't think too much of what wave count we are in – this is a highly “contentious” issue. Just use GET/Elwave to find out which pairs are having Wave 3 (forget about the terms Primary, etc.which I am also beginning to have enough of it – hehehe.
I thought I was running “out of gas” on how to make better use of GET and its product features to help us in our trading, then some new “ideas” have come out. These were brought in by our two new contributors – Bubble and Brian – when they showed their “wave” charts.
Very impressive charts and I like the 1-2-3 step process of retracement – simpler to use than Elliott Wave's complex patterns for its Corrective phase, and I have been figuring out how these charts are drawn. Finally I managed to unruffle the mystery of drawing these "new approach" charts - at least new to GET users but not new to Dow theory followers.
On Monday, Nov 30, I will first (1) give our normal GET chart for the currency pair we are going to trade (if any) and (2) as an Addendum I shall also ADD a similar chart like those of Brian, as I have finally figured out how it is done. This will be good for readers of our Advanced Get thread and users of GET software, as these new charts will be an additional technical tool for us to use. Sorry, Brian, about this but I like to share what I learned with my readers. You can keep your secret weapon as I have also developed a similar one though it may not be exactly the same – but the concept is there.
Until then
Kenneth
I do not see the point in arguing about these lines on your charts , i doubt they are zigzag kenneth as you say zigzag lags and its not possible to predict the end points using them ,i think brian is doing the same as i am and using them as a graphic representation of his real method of identifying the swings .
Meanwhile heres the chart of cable(60m) i posted on my thread (wave trading) showing the swing point needed to break for the downtrend and as you know it did break.
While we are on the subject of waves ,here is something for you to ponder,
We know that forex ,stocks etc exhibit fractal behaviour
QUOTE
"A fractal is an object or quantity that displays self-similarity, in a somewhat technical sense, on all scales. The object need not exhibit exactly the same structure at all scales, but the same "type" of structures must appear on all scales""
So a "whole wave" would be where the subdividing begins ,so if you take the whole data serious of any chart and put it into one big wave you can unravel it and see how it subdivided which is what elliott did.
What if you could identify the beginning of a self similar pattern or wave on any timeframe?
bubble