February Forex and beyond

Rick

   Thats what it is Elliot Wave. He believes in it and teaches it. I dont get it nor do I want too, seems too complex and open to interpretation. Shoot, I will let him do the work, he gets off on it.The guy will even shoot you a text when he is making any kind of move.............not bad for free.  But I wonder, will he just give it all back like most cappers do. From  to     you know what I mean.   

1Iron,

I agree, wave counting is almost an art and has so many ways to excuse a missed count thatit is tough to use the theory and for me to have full confidence in it.

EW is complex but it has a few constant rules...just knowing those can make you some pips

Tail the guy if hes hot what can it hurt?Trade the trend till it ends

Walls right though there are too many excuses for counts being wrong or patterns just flat out failing but some of these guys are  damn good...BHeurofighter [think that was his name]was a good trader but he went tout...cant blame him he was steady banking huge trades

Matts thread has been pretty good so far this year but he does get stopped out alot....they just closed a 400+ pip trade last week and were up a few hundred in a trade of EU/GBP which is like being up 300+ pips in any other pair...

Just have to find what works for you..try to pick up on what theyre looking for to enter trades just dont blindly tail or when the guys gone youre left high and dry

 

New week, hopefully new profits...

Entered a trade.  SHORT EUR/USD at 1.3593

Looks like EUR on it's way down again.

Put a stop at exactly 1.3500

Should have waited I guess.. gone up a few pips since I put this trade in.  Not much movement, I forgot today was President's Day.. I'm guessing the USM must have been closed?  Will be an interesting overnight session.

yeah i havent seen anything worth jumping into yet this week..with all the pairs going up theres sure to be something good tomorrow...

We been getting hit with snow last few pretty boring days hope the market gives me something to watch...

Boy, I read that one wrong

Ok, trying again

I was looking at the latest pick released by the analysts over at dailyfx, which was Joel back on February 12.  He is LONG in EUR/CAD.  His reasonings along with the chart leads me to think he is onto something.  I'm in, at 1.4287, and I set my stop at 1.4190, the same stop Joel has. 

I do better tailing it seems

GL Ice

Looking to sell out of the lb.yen trade at 142.50, that would net nearly 600 pips on the trade.

Nice trades fellas..

Left a bunch of lb.yen pips on the table..

Currently lightly short the au.us, long the eu.au and looking to get short the lb.yen at 143.50

Got the fill on the lb trade..looking for 100 pips, almost halfway there.

This EU.AU trade is a mess with the EU dropping today.

Im thinking about shifting to trading off longer term charts here...conflicting views on which way EU/$ is headed some think this rebound pushes up to about 1.4050[hope theyre right]others think this is just a short layover b4 the next leg down...my problem is the daily/weekly/monthly charts are seem to show different directions....when the monthly looks good the weekly looks good the other way..

NZD/USD monthly for example weekly looks like its gonna pop here to at least 72/73 but the monthly showing a cross lower...gonna have to wait two weeks for Feb candle to close need it to close around 70 to see a cross here maybe low 60s upper 50s...looking back theres only been 13 crosses of these lines in the last 15 YRS..and these are big moves

Eu/$ chart is about the same as NZD,weekly a bottom bottom monthly showing a cross and looking like it will go to test low 30s maybe even that major support in the mid 1.20s....and its only had 9 crosses of the DI lines looking all the back to 94...

Ive got the margin and the stomach to endure some move against me now i just got to try it out..EU/$ wasnt intended for this but its worked out that way so i guess ive really already started...still looking at 4hr charts for trades for the next few weeks..but March 1st ill be singing a different tune

Got the buy cover on the lb.yen trade..

100 pips came way too quick.

buck, I am concerned that the EU has turned sentiment, some charts are on multi-year lows..similar to what happened to the USD.

I think some are pricing in the possibility that the EU will need to keep floating in order to bailout more members, and that could weigh on the currency for a long long time.

Nasty drop on the hour chart..rolling top turned over on that EU.US pair.

Combine that with the USM softening, it isnt a good combination at all.

this does not look easy guys, hope you guys do well

Wish I would have been on one of those Eur/  or Gbp/ crosses today.
I had gotten into usd/jpy @90.78 round eleven and closed @ 91.18 
40 pips is 40 pips, but there were some real movers today, I have been running around doing errands

hope you guys got some of that good volatility this afternoon 

im selling NZD...7054 entry...no limit just gonna watch...

I will go in with you..

Delta has a .9 pip spread on that pair.

Looking for .7061 on the SS entry.

Holy crap..

FED raises discount rates, the USD is off and running.

I missed that entry by 1 pip, now she is right at .70

Bot to cover the 2 AUD shorts I had for a net pip gain of 170 on the trade.

That NZ trade is good by 100 pips buck..nice work.

Wall you been tearing it up....im just glad i brought the laptop to work...paid off for once...last time i took it the strap on my bag broke and my laptop took a nasty spill...and it was a brand new bag,first time it was ever used...

Im holding here i think this keeps dropping...got my eye on 6840