My Forex Prediction using Advanced GET - page 23
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Hi, Guys:
I am attaching herewith 2 scan copies of an interview from EWI by a "true Elliott Wave expert", Roberto Hernandez of EWI.
Roberto uses oscillators to aid him in his trades apart from Elliott Wave patterns, and does his trades on the Dow futures using very short-term charts ie 1 min and 5 min. It is not mentioned in this interview whether he uses EW for any forex trading????
The MT4 platform has several oscillators for you to use. For myself, my favorite oscillators are the EW oscillator and 2 stochastics oscillators ie the 40 period and the 5 period for my confirmations, but I use Daily charts not short time frames as my software is an eod software.
Trust the scanned interview will motivate you to explore Elliott Wave theory further.
Kenneth
Humm.. EurUsd went over my expectation today. My long trade is getting very rewarding. It's getting hard not to get out with a very interesting return now.. It,s very tempting to close this trade with a very substantial gain but the system is calling for 4459. I am just half way to it. My long was set 4062 with stop at 4040 with a whoping 3% risk. Right now my unrealized P/L is +33.4%. What would you do in my situation Kenneth? Close half and leave the rest?, Thighten my stop? I am more use to manage loss then profits..
elwaveeurusd_3.bmp
Ok i am out at 4217 for a substancial gain.
I figure how to analize smaller time with less bars it changes the picture. On the smaller time frame, there was no point sufferring this wave C down. I could always hop back in the trend in a later wave.
Humm.. EurUsd went over my expectation today. My long trade is getting very rewarding. It's getting hard not to get out with a very interesting return now.. It,s very tempting to close this trade with a very substantial gain but the system is calling for 4459. I am just half way to it. My long was set 4062 with stop at 4040 with a whoping 3% risk. Right now my unrealized P/L is +33.4%. What would you do in my situation Kenneth? Close half and leave the rest?, Thighten my stop? I am more use to manage loss then profits.. elwaveeurusd_3.bmp
Yes, close half and leave the rest. That is what I normally do for stock trades.
Good for you, GreatYves. (I just came back. Had to attend some personal affairs.)
Kenneth
Ok i am out at 4217 for a substancial gain. I figure how to analize smaller time with less bars it changes the picture. On the smaller time frame, there was no point sufferring this wave C down. I could always hop back in the trend in a later wave.
I am really happy for you, GreatYves, that you were able to figure out how to analyze smaller time frames. This is something I have not been able to do. If your approach works well, then at last you have found a way to make money out of short term forex trading.
Kenneth
Hi, Guys:
Sorry, I had to attend to some personal affairs this morning.
Give me another 30 to 45 minutes, and I shall post the EW charts.
Kenneth
About EUR USD.
BUY advice
This is a very positive signal! Three consecutive wave degrees show a clear POSITIVE trend, as well as a
positive EASI, which indicates that the target has not yet been reached.
Check if the wave degrees are the time frames you trade.
An interesting price swing for Investors.
From Minor to Minuette Wave degrees the trends are all up. Most likely the target of the
Minuettte wave degree, which is in wave 3, will be reached at 1.4442 or percentagewise 1.5364%.
Normally also the target of the next wave degree could be reached at 1.5113 , which is in wave 3.
This is an opportunity to Buy before an upward acceleration takes place. This item has just made an interesting
retrace but still is forecasted to be in an up trend with regard to the Minor wave degree and the
Minute wave degree.
If the expected price rise follows you have a more interesting risk/reward now compared with acting on the
next break out. Trading on retraces is interesting but more risky also, so check other info as well.
Check if the wave degrees are the time frames you trade.
The current wave for Minor is 3. Beware important USD news ahead.
This article is for general information purposes only. It is not investment advice or a solicitation to buy or sell securities. Opinions are the author's — not necessarily Forex-TSD, its officers or directors.
All green now...
elwaveeurusd_4.bmp