Ewj: elliott wave

Why Predict?

It’s because survival of the species depends on it. If migratory birds do not predict when to begin migration they would be extinct long time ago. Bees return to their hive before rain, etc. Slow predators can catch quicker preys and survive because the can predict the course of action of the preys, so are the big guys who know what the little guys will do at what circumstances.
Prediction is a billion dollars business. Some people earn their living by predicting the Market movement for their whole life. Any business newspaper which gives no prediction at all will be out of business in a short time.
Our EWMTer didn't want to be in the Market before a 400,40,80 points correction, so he predicted when it will happen and spare himself the 1200,120,240 points.
Elliott Wave Minor Wave Trading Strategy: When to close a long position?
http://www.elitetrader.com/vb/showthread.php?s=&threadid=101387&perpage=6&pagenumber=57
Those who don’t predict may fall prey to the Bull Trap engineered. Sad Movie usually ends like this.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=101387&perpage=6&pagenumber=84

 

... what is it ? the dollar ?
... i have different contract numbers so i dont know which contract you are referring to...
thanks...

 

..... what do you think about a possible target on this wheat count ?

thanks

 

Its British Pound Verse US Dollar that last chart
6B is the Globex code....

http://www.cme.com/trading/prd/fx/british_FCS.html


On Weat, I'd eyeball the Measured Move as the first Natural Price Target.

 

Just had a closer look at Wheat on the 120min chart..

It could even bounce from here.... If not, its the larger MM target to aim for.

 

Status.
Short position.
USD/JPY = 109.12 today, still Yen carry trade unwinding?
Dow and S&P below 200 dSMA, long term investors may begin to cut loss.:eek:
The Market is deciding whether to go up or down? Down or Up? Up or Down?

Scenario 1.
The Market rebounds to all time high.
Strategy 1.
Stop out at the last Friday high.
Look for opportunity to enter long position.

Scenario 2.
The Market falls another 588, 69, 171 points.
Strategy 2.
Hold on to short position.

 

Could be a complete ED

 

If the 61.8% goes then the bears will start to twich...

 

Bears will be looking towards a triangle or i,ii pattern...

We get some strong fib time counts for today so the bears need to keep a close eye on things...

 

Six buy and sell signals bypassed. It looks like a choppy session.
Wait to see how far the last sell signal would go.