Ital's Tradig Journals

italm31 · #1 05-12-2008, 02:33 AM

Hey guys, Im new to this community and have heard some fantastic things about it. But, the only way to judge is by seeing it for myself so here I am.
I am first and foremost an Elliotician. This is where I get my bearish and bullish biases from. The most important charts to me are the monthly, weekly and daily in which I like to call the 3 wise men.

I am thus far extremely bullish JPY, CHF, and USD in that order exactly.
I am also extremely bearish Eur, Aussie, Pound and Cad. NOT necessarily in that order. Without further a due, I know its Sunday night, but I do believe I see a nice set up possibly developing in the Euro tonight. So I figured show it. Most of my counts will be on Daily charts but since Im looking for an entry in Euro, this is best setup as see tonight. I normally don't trade Sunday evenings, but this setup looks to good to pass up. Low risk high reward...thats the name of the game!

italm31 · #2 05-12-2008, 02:50 AM

Heres another setup I like with Aussie. Although not show in the chart, the weekly has to made a new high in 3 weeks. In fact, it has tried to break above .9500 area 4 times with little success. The daily chart is showing a possible wave 3 down so we could see a major push to the down side beginning tonight. Well I did short at .9500 based on a wave 5 truncation I saw last week but I decided to add a new position with the break of today's low. Wow not bad for a Sunday night!

italm31 · #3 05-12-2008, 03:15 AM

Quote:

Originally Posted by italm31

Hey guys, Im new to this community and have heard some fantastic things about it. But, the only way to judge is by seeing it for myself so here I am.
I am first and foremost an Elliotician. This is where I get my bearish and bullish biases from. The most important charts to me are the monthly, weekly and daily in which I like to call the 3 wise men.

I am thus far extremely bullish JPY, CHF, and USD in that order exactly.
I am also extremely bearish Eur, Aussie, Pound and Cad. NOT necessarily in that order. Without further a due, I know its Sunday night, but I do believe I see a nice set up possibly developing in the Euro tonight. So I figured show it. Most of my counts will be on Daily charts but since Im looking for an entry in Euro, this is best setup as see tonight. I normally don't trade Sunday evenings, but this setup looks to good to pass up. Low risk high reward...thats the name of the game!

Hey Guys,
Thats the beauty of ending diagonals. They don't take long to prove themselves valid or not. Here's an update of tonight's Euro trade I placed about an hour ago. Enjoy!

italm31 · #4 05-13-2008, 12:35 PM

This morning my favorite trade is Eur/Chf. Ive been watching it for a while for several reasons. But mainly, the weekly chart makes me without question a full blown BEAR!
We have a clear 5 waves down followed by a clear ABC pattern. Also, for many years, there has been a clear correlation between Euro and Swissie. Now, a clear indication that correlation has been broken is the weekly ATR. That tells me the correlation has been broken. They will now start moving in opposite direction of each other. This confirmed with 5 waves down. So now I expect a weak Euro and a strong Swisse.

Now that I know Im clearly a bear, its time to look for setups. I see see a nice setup on hourly chart. Im already short 1.6295 but am looking for a place to add to my position. We have a 5 wave down move on the hourly followed by an ABC which did retrace back to .618 level. Also, wave C looks to have taken the shape of an ending diagonal. The only thing I don't like is the hourly stochs is clearly pointing up. However, although not shown in this chart, the 4hr stochs is clearly overbought and looking to come down soon.

Cyclon · #5 05-17-2008, 06:31 AM

Hi Friend,

I think that we can always find a way to agree to disagree whenever and wherever Elliott Wave is mentioned.

This is not either of our fault as the books on EW are wrong on some very important aspects which have a profound effect on the pivot areas. (Figures, since that is where you need and want it to be trustworthy).

I only wish to comment that although I don't know the time basis you would normally trade since your journal is new, you have mentioned bear on basis of the weekly and on that I would say not so - so be cautious.

Good journal !! Thanks = And don't hurt yourself with the EW, mate.