May29, 2009 EurUsd Analysis

• The EurUsd pair in weekly chart the wave1 is over and we are in the position ofwave2.
• Wave2 is about 38.2 or 61.8 % of the wave1 retracement.
• Wave2 is common in price retrace, therefore the time period is shorter than wave4, and the price is retrace deeper than wave4.if this statement happened today then wave 2 is 5-3-5 retacement in daily chart.
• From yesterday the daily chart we notice that waveA is over and froming the waveB.
• We need to observe waveB is over at what price level, than we can define which type of retracement pattern.
• From the chart the waveB is retrace more than 76% of waveA.
  
  Weekly chart information:
  0point = 1.2885
  Wave1 = 1.4050
  
  Daily chart information:
  Wave5 = 1.4050
  WaveA= 1.3792
  
  My decision:
  Wait for waveB over and confirm the retracement pattern then setup a sell position in waveC.
  
  My trading strategy:
  Use the Elliott wave to find out my position.
  Use Fibonacci ratio to set my target price
  Use Chaos Trading to enter a trade

27May,2009 Daily Analysis on EURUSD

Hello, God bless you,

we are entering a wave5 (for the wave 3 extention.), the wave5 may be equal to wave3 or equal to wave1.

from the chart
0 point = 1.3245
Wave1 = 1.3722
Wave2 = 1.3423
Wave3 = 1.4050
Wave4 = 1.3859
Wave5 calculation:
Wave5 target price (equal to Wave1) = 1.3859 + 0.0477 = 1.4336
Wave5 target price (equal to Wave3) = 1.3859 + 0.0627 = 1.4486

the save entry for buy position :
buy stop = 1.4025, why ?
yesterday high = 1.4022
spread = 2pips
breakthrough =1pip

Stop loss= 1.3859 why?
the bottom of the wave4 =1.3859

to have a better entry and profit target you can monitor the 4hour or 1hour chart

What is the Result for yesterday !

Hello, God bless you,

My yesterday trade is selling position, this is the wave4 retracement, the profit target is about 23% of wave3, I target it 32% and 62%, therefore my trade is hit my trailing stop, total profit is 71pips. if I look in to hourly chart, I can make more pips. is ok as long as in a trade we learn some thing a bout the market.

26May,2009 Daily Analysis on EURUSD

Good morning may God bless you all,

Let us look into yesterday price bar,
Open = 1.4024
High = 1.4027
Low = 1.3957
Close = 1.4009
MFI = Squat bar
Total pips = 70pip
1/3 of Bar = 23 pip

From above information we conclude that yesterday started with seller leading the market but at the price of 1.3957, the buyer was managed to push up the price to1.4027. From these informations a lot of people well go for buy position, but I am going for sell position. Why? Because the high is not break the Friday high, and it happen yesterday is squat bar, it is show us that Friday is the peak, is good time to short the market.

This is my setup of the day:
Sell stop = 1.3956
Stop loss = 1.4053
Profit target = 1.3808 & 1.3666
Loss win ratio = 1:1.5 & 1:2.9

Please study the chart carefully don’t just blind follow my step.!!!

May you all win more pips

Derek
derekdiscovery@gmail.com

May 25, Weekly Chart Analysis

Blessed morning to you all,

From the weekly chart is shoe that the retracement up is above 61.8%, therefore for my observation this week is good for sell position.

May 25, Daily Chart Analysis

Blessed day to you,

From the day chart it seem look like today is the retracment ady, it may be price drop, is good for sell position, profit target may be at 1.3811.

May21, on 15min. chart

At GMT 16:15, I observed the 15min chart, and found that wave 2 was over and was going into the wave 3 position therefore, I calculated the wave from 0 point to wave 2.

The 0 point = 1.3750

The wave1 top = 1.3827

The wave2 bottom = 1.3802 (almost 38.2% of wave 1 retracement)
Base on the Elliott Wave Theory, wave3 can have the same pip value as wave1 or 1.618 of wave1; therefore I calculated 2 sets of value.

If wave3 has the same pip value as wave1, the target price = 1.3802+0.0077 = 1.3879,

If wave3 is 1.618times the value of wave1, the target price = 1.3802+0.0124 =1.3926
After all the calculations at GMT16:33 I entered two trades with the price at 1.3830, because the price had the breakthrough of the wave1.

Stoploss = 1.3802,

Profit target = 1.3879 and 1.3926,

The losswin ratio = 1:1.75 and 1:3.42

The actual wave3 = 1.3903
I have 1 trade hitting the profit target with a gain of 49pips; and another trade hitting the trailing stop at 1.3868 with a gain of 38pips.;From the result this means wave3 had the same level as wave1, The wave theory say that wave3 cannot be the shorter then wave 1. wave. Therefore we can predict wave5 will be the shortest wave, estimated at 0.618 of the wave3. Base on calculations wave 5 = 1.3928, the actual wave5 = 1.3923.

What was my next move after winning the trades on wave3?
I zoomed into the 5min chart to prepare the wave5 entry. Form the 5min chart I calculated 3 different target prices,that was because wave4 will retrace from 14% to 32.8% of wave3.

Wave4 = 1.3903-(0.0099*0.14) = 1.3889,

Wave4 = 1.3903-(0.0099*0.23) = 1.3880 and

Wave4 = 1.3903-(0.0099*0.328) = 1.3871
The actual wave4 = 1.3866
when the price reached1.3889 my buy stop was triggered and my profit target at 1.3928 was done, during this trade it also hit the trailing stop at 1.3965, this trade gave me a profit of 86pips within a period of 3 hours. Total profits for the 2 trades a cool 173pips.