My Forex Prediction using Advanced GET - page 94
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Elwave Charts
For readers who would like to take a look at Elwave charts for the 7 currency pairs, you can go over to Harmonic Trading - Modern Elliott Wave Trading Using Elwave, as I have posted the Elwave charts there since they pertain to the topic of Elwave.
It is quite interesting to note that both GET and Elwave agree on the Major Direction of EURUSD and USDCHF.
Joe
The following 4 currency pairs display Wave 3s:-
EURUSD – Wave 3 Down
GBPUSD – Wave 3 Down
USDCHF – Wave 3 Up, and
USDJPY – Wave 3 Up
With their PIVOT chartings pointing in the same directions.
Frankly, I am still at a loss as to which pair to choose to trade due to my financial constraints.
At Kenneth’s suggestion, I have visited forexoptical website, and read about Fibonacci trading system and Pivot system and Chart Patterns, and experimented yesterday with those concepts.
Using MT4 15 min charts – Fibonacci Ratios and Pivot Points and Chart patterns I was able to make 53 pips with 0.5 lot order. I traded 4 currency pairs ie USDCHF, GBPUSD, GBPJPY and EURUSD – one pair at a time. Can’t afford to trade all at the same time. After I closed one pair trade, I then traded another, and so on.
Later I shall attach details of my trades.
JoeAttached is he file containing my 4 trades yesterday.
Because I used 15 min chart, the distance between two Fibonacci levels is only around 15-25 pips per pair. So I have to be content with that type of TP for each trade. Each new trade was done after the earlier trade was closed - can only afford to trade one pair at a time.
Joe
Attached is he file containing my 4 trades yesterday.
Because I used 15 min chart, the distance between two Fibonacci levels is only around 15-25 pips per pair. So I have to be content with that type of TP for each trade. Each new trade was done after the earlier trade was closed - can only afford to trade one pair at a time.
JoeWell done joe. It looks like you found solid profits even when the markets were very slow. May I know how long each trade took?
Also if you don't mind could you please tell us the analysis you did before entering each trade?
thanks
Sunny
hello
hello kenneth sir,i have one request.Please talk to me online.i want to chat with you once.please tell me when it is possible.u can talk to me in gmail in sonusanath@gmail.com or yahoo messenger, sonu_sanat@yahoo.co.in
please please i have urgent personal thing to talk,i want to discuss,its urgent,please chat with me once plsease.
hello kenneth sir,i have one request.Please talk to me online.i want to chat with you once.please tell me when it is possible.u can talk to me in gmail in sonusanath@gmail.com or yahoo messenger, sonu_sanat@yahoo.co.in please please i have urgent personal thing to talk,i want to discuss,its urgent,please chat with me once plsease.
Hi, sonusanat:
Please check your email.
Kenneth
Communication Problem
Communication and Clarity are always a problem with most of us.
As English is not our mother tongue, and we are not politicians or lawyers or professors (hehehe), we just lack the words or phrases or we express them in a way that lacks clarity. But once these are sorted out, our minds are set at ease. Elucidation is the key.
Sunny, you gave me the impression that you were obsessed (and so am I but I kept low on it) to figure out those tricky trades done by Kenneth which, for the present, are beyond our understanding as we have not reached that level of trading experience and knowledge yet. BUT one day (again heaven knows when) with patience and dedication we will also reach that level, and we can then say “Ayah. It is that so simple.” - hopefully.
With that, we treat the matter as close.
This weekend, I will present at least 2 of my trades as “assignments”. I give readers the figures (this time without any diagrams or charts), and you try to draw out the transactions, the Fibonacci levels, etc. using MT4 to illustrate. The previous examples last week will be your guide. Won't it be nice if this time around I am the teacher and the readers our class – chuckle.
It can be fun.
Meanwhile I am trying to spend a bit more time on Elwave to discover how to best use it for either day trading or position trading (2-3 days as mentioned by JD) to enter my trades at the end of Waves 2, 4 and 5. Once I am able to do that, you will see more of my postings in GY's thread. But it is going to take me some time (heaven knows how long), as I have to balance my forex studies and my work - can only do this after work when I am back home.)
Joe