I do undestand you. no problem with that at all. I also tend to have a practical approach to EW, and when I can see them they are there for my fib projection. I use daily, H4, H1 and M15. O daily I use also time fib time projection.
Best regards,
2be

@2be

Look how I can see your 4H chart

1-3 DEC 1.5095 start of wave 1
4 DEC 1.4445 start of wave 2
4-5 DEC 1.4803 start of wave 3
5 DEC 1.45 start of wave 4
5 - 8 DEC pobbably 1.5 start of wave 5

Seems difference between our counts is in start of wave 1 ?!

One more push to the up is possible ... .

hmmm. We are on the way to down, but ...

Stoch indicator on H1 is oversold so we have to wait for one push to
the up. Key (possible short entry?!) levels are
1.5050 - 1.5080 area for gbpusd and 1-3080 - 1.314 for
eurusd. Clear broke of these levels to the up can produce
few hundreed pips to the up before down, but
pullbach (to south) from these levels is more likely later
today. Stoch H4 indicator is near bearish count so bearish
pressure is near.

my 2cents of thoughts...
not v gd in stoch things..but uk data real bad & 2nite usa equity
should go down woh...going back to 15000 area seems tough

gbpusd 1.48 now

I think this is going intradaily UP now to 1.508

__________________
Bojan Hajdinjak

yea, jeff, market have been pretty much volatile since the last half of this year..Nice

observation, though..



Helloo there, increasenow,
from the tone of your comment, you seem to be hiding some heavy sarcascm beneath velvet

gloves, or shall we say , ''cat's paw''? maybe its just a reflection of your inner mental

processes at work...well, I'm in a good mood so I'll humour you for now and give you some

answers..

1- consumed with GBPUSD? What do you think this, alcoholic consumption frenzy? Trading is a

wide field like medicine,law,or any other profession out there...it pays to specialize in

one or two currencies well and be profitable, than to be jack of all trades and master of

loss..ever heard of comparative advantage? Warren Buffet said something along the line of

diversification are for those that dont really know what they are doing...put your eggs in

few baskets as possible , and watch them like a hawk...so in order words, I trade all

currencies and I specialize on the cable, just like I said on my begining post here.


2 - I manage forex accounts ranging from tens of thousands minimum, to millions of

dollars..That sample detailed report you saw was based on how much return of investment(ROI)

gained monthly from a minimum of 10k. Due to my style of trading, risk and money management

is of top priority in the first objective of preservation of capital.
The second objective of making profits comes next.I want you to understand that in trading,

garbage in, garbage out...right thinking, right product..

Never risk more than 2% to 3% of your capital in any trade...For a 10k account, dont risk

more than 200 dollars..for a 100k account, dont risk more than 2000 dollars, for a $1m

account, dont risk more than 20k in a trade..
So in the context of this sample, why should a professional trader use 1 standard lot on a

10k account, if risk mgt suggest $200(2%) risk on a single trade for that equity ? You have

the potential of losing $2,000 on a trade, which is 20% of the 10k equity, instead of just

$200 or 2%..That 20% keeps you in the game for just 5 times, while the 2% keeps you in the

game for 50 times...Devrim, a forex trader lost 90% of his million dollar account because he

wasnt using stops...learn from the mistakes of others..maybe you should go back and read

this..


Drawdown and Maximum Drawdown? | 13th Grade: Money Management | Learn Forex Trading

The higher your equity, the better capitalized you are...Dont be fooled by adverts telling

you to trade forex for $10 or $100 or claiming you can make gazillions out of a palty amount

...doesnt work that way...from your name,increasenow,dont be greedy,

3- 3k from a 10k account in 3 months amounting to an average of 10 % monthly, is not too bad

in my opinion, considering the last 3 months have been the most volatile and uncertainity

filled period in the markets, with the global economic crises,recession troubles and bad

news transmitted everywhere.. ..
Traditionally, months from October through December, have always been very hectic for

traders...most rarely trade during the period as banks, hedge funds square off positions to

the detriment of the undercapitalized and inexperienced traders.
For the 3 month to a year period, bonds have been below 2%, Treasuries Bills rates have been

slashed to pieces and stock index have been on negative for the last 9 months now..so why

make jest of a 30% return in 3 months, if you are not a court jester?

Composite Bond Rates: Bonds Center - Yahoo! Finance

Treasury Bills | Constant Maturity Index Rate Yield Bonds Notes US 10 5 1 Year Rates

For the record, that 10k account is just a SAMPLE of the other currency based accounts that

is being managed, amongst other investments.

4- Where do I live? Though trading is a lonely business, No stalking , please...



no probs, lancelot...



[09:09:41 08/12/08] Stalion : helloo there everyone

[09:24:35 08/12/08] klho83 : hi Stal

[09:51:36 08/12/08] fasi26 : hi alz

[10:10:02 08/12/08] Stalion : hi fasi

[10:11:18 08/12/08] Stalion : our sunday trade didnt work out as planned, so we put a buy

stop on gbpusd @ 1.5045..1st target @ 1.5105..2nd target @ 1.5165...3rd target @ 1.5225...50

pip sl

[10:15:25 08/12/08] klho83 : OK Thanks!

[10:24:08 08/12/08] fasi26 : hi allz

[10:29:01 08/12/08] fasi26 : shuld v go for EUR/USD sell stop

[10:36:48 08/12/08] fasi26 : helloooooooooooo

[10:42:08 08/12/08] fasi26 : Stalion?????????

[10:46:05 08/12/08] Stalion : hi

[10:47:34 08/12/08] fasi26 : hi sir how ru

[10:48:28 08/12/08] Stalion : am okay

[10:48:31 08/12/08] Stalion : and you?

[10:48:40 08/12/08] fasi26 : same here thnx

[10:49:22 08/12/08] Stalion : we also put a sell stop on gbpusd , as a hedge, @

1.4945....1st target @ 1.4900,2nd target@ 1.4855,3rd target @ 1.4815....50 pip sl away


[10:49:27 08/12/08] fasi26 : eur/usd ?

[10:51:40 08/12/08] fasi26 : hmmmm i entered

[10:51:53 08/12/08] fasi26 : but i m luking for eur.usd any tip

[10:53:05 08/12/08] Stalion : for eurodollar, a sell stop @ 1.2869...1st target @

1.2847...2nd target@ 1.2825....50 pip sl away

[10:53:13 08/12/08] Stalion : hi avak

[10:53:26 08/12/08] fasi26 : hmmm k

[10:54:58 08/12/08] fasi26 : i got 1.4900 ... 1st trgt @ 1.4850

[10:58:50 08/12/08] fasi26 : ?

[10:59:58 08/12/08] fasi26 : did u see eur.usd forum

[11:00:24 08/12/08] Stalion : nope...where?

[11:00:37 08/12/08] fasi26 : dailyfx forum

[11:01:25 08/12/08] Stalion : whats happening there?

[11:08:29 08/12/08] Stalion : hellloooo, fasi....?please wake up....2nd target hit




[11:16:50 08/12/08] Stalion : not yet.....

[11:26:32 08/12/08] Stalion : remember to take half profits after +20 pips ahead...

[11:26:39 08/12/08] Stalion : then shift sl to entry

[11:37:52 08/12/08] Avak1988 : hello Stalion

[11:38:27 08/12/08] Avak1988 : I just try to understand what is going on and how do you work

here

sell stop on gbpusd @ 14745...1st target @ 14705..2nd target @ 14665...3rd target@

14625...also as a hedge, we put a buy stop @ 14825...1st target @ 14865...2nd target @

14900...50 pip sl on both..
Please remember to take half profits after you are +20 pips while shifting stop loss to

entry. And 15 to 25 pip trailing stop should be used after 2 nd have hit..

still....?
now i am confused with the mkt move!
despite i knw 14680 is very strong support...didnt buy..sigh

STILL - Yes - of course


Iam out with intraday eurusd buy order now with 160 pips of daily
profit but it seems it will go higher till the 1.31 or 1.33. But for eurusd
I am waiting now for bearish sign in next days.

gbpusd 1.4831 now. We are in small profit. Seems gbpusd have no such
power this moment to going up but I expect more upside pressure now.

One of the reasons for such slow move to the up (and expected
south mouve in near future) is, that suddenly too many traders are
on buy positions. This was change in one day. Now 90% of gbpusd traders
are on buy positions. Hope they dont read this forum because in
such case we are in toubles with predictions


But for eurusd there are 90% cca trader on sell positions.
This is amazing. Euro moves inside of 240 minute upside channel to
reach channels top. There we can start to monitoring for short position.
But I expect gbp will hit first resistance at 1.5. If not this will be
nice signal for short position. We have to know that we (I) are expecting
BIG downside move for 1000 pips this month !!! I any case I will start to look for
sell position arround 1.508 else it gbpusd brokes this resistance.
If brokes than arround 1.53 or 1.55 will do that but
I dont beleave this will happen.

Let we see todays daily close and we will know more about
this situation - for possible tomorrow tradings.

__________________
Bojan Hajdinjak

tks for great input...
but now i m more confused...hahaha

I wouldn't be so upbeat on that. GBP is oversold heavily. I doubt it has any room to fall further.

GBP has A LOT of room to fall, oversold means little if you are looking at indicators, they are based off the PAST and in this market the past market moves have darn little to do with curent conditions or moves

Now it start to forming EW 5 Wave on M30 chart with target
1.4618. But we have to wait on top of this wave.
M30 chart isnt so reliable but now we have EW 5 waves
on M30, H4 and D1 chart - all of them with sell signal.
M30 EW means that this is possible to hit NOW.

I am waiting to see the same on
H1 chart. Hope this will be arround 1.5. If/when this happen
than we have very reliable sell signal.


We can monitoring now also eurusd for sell signal.
When/If eurusd hit 1.3 - 1.31 - 1.33 area and start with
bearish move, and we will see EW count on gbpusd 5 wave short direction
on H1 chart, than we are going DOWN. It can happen very soon.

But in this moment (weak) bullish pressure on gbpusd sustain like we are
expecting.



really? I will be happy If gbpusd hit 1.55 before 1.37
It is possible gbpusd wont even touch our expected upside level at 1.5

Yes. I agree with. Such situation like todays - this isnt normal situation.
We must adapt our thinking on new situation.

__________________
Bojan Hajdinjak

Long 4770
Stop 4722

i go to bed with 65 pip trail stop
good luck on my trade pls

Hey gbp/usd gal'n'guy gurus...I'm a novice on here looking to educate myself prior to a dollar-to-sterling transfer to fund a new house build in dear old Scotland early next year.

Having read many posts on here, and articles elsewhere, I am probably just as confused as ever. Where can I get the best, easy-to-understand forecast [yes, I realise that they can also get it wrong] on whether to transfer app. $500,000.00 this month...or wait until early 2009? Or half now, half later?

Thanks much!