There was high ( ask ) till 1.2968 - bid 1.2965 ( 3 pip spread i have on euro )
the above chart showing the e-wave is not valid at first ....
I am not changing anything except removd that e from my chart and this is possibly becoming complex correction provided it doesn't break above the wave(c) marked if it does first of all i will be stopped long before that at b.e second as i said earlier i will try to trade the patterns i have so keeping out of this market .
beback after stop out or further development.

Current Bid = 1.2958.

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i have moved my stop back to 1.3002
i am writing the rest just after this message price is still 1.2956-57 bid.

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now why back to 1.3002??

as i said in the message before the last one this is becomming a complex correction which is still to complete where wave c marked in the last chart still shows end of wave 4 unless broken ofcourse.

also i did calculated my current pattern trades i have
1.2920-1.2995 = 75 pips
1.2942-1.2975 = 33 pips

and if this stop hits = 1.3002-1.2970 = - 32 pips with the grand total of 76 still with profit.. so i decided to keep this trade running.

Now what if it goes above the wave c marked in the chart .. well then there are alot of scenerios possible and i for one not interested because the complexity level would be beyond my skill level which i have gained by studying this subject and needs more expierence i am only in this untill the c is still intact..

EACAN.

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attached is a chart showing the updated wave(4) if you observe the chart we have a situation in which first we have a normal flat correction then the whole wave moving in a triangle formation also if you relate this to wave (2) it is some what showing a complete alternation in time and price ..


although i stated i will not trade in case it goes above the marked wave c (w) now . but let me state 2 scenerios

1. It is a 5th wave failure and a new trend starts for which i need a new pattern

2. It still part of wave 4 making a wave c ( further analysis is needed and a new pattern ).

EACAN.

Attached Images

euro2.JPG (145.4 KB, 307 views)

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now we could introduced that e which was removed before..
price now at 1.2980 .

Attached Images

euro2.JPG (134.0 KB, 287 views)

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the stop is taken at 1.3002 which has thrown me to sidelines
so this pattern has ended for me with 76 pips and i am no more trading but learning and reading.



chart update :
none at this point


future trading:
well i have couple of plans for future first of all about trading plan regarding my goals which i will update here later ... 2nd is to improve my elliotwave analysis..

some people asked about the pretcher book i really dont have it anymore there were things i was not grasping so i let it go .. i just got my self neely book from www.amazon.com which i still didn't started reading.. the information seems very good plus it looks that it covers a lot of things but it doesn't seem an easy read though i am going to spend time on the book definately

regards
EACAN

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i really hate to do this cause it takes away my discpline ... oh well
i am thinking to sell this market if travels below 1.2990 sl will to todays high

provided 1.3020-25 stays

anyways i will update when i enter i'll post the chart later actually what i am looking at is that this is still the 4th wave (c)..

next.. with chart

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now please dont quote me on this !!.

remember there was a second scenerio where i stated this could be wave c of wave 4.. well that time has arrived unless stated otherwise

in the chart it shows where the wave c has been done
plus lets see the rules here

(i) wave 4 cannot go in to the price territory of wave 1
(2) wave 4 will not travel into the price territory of wave 2

so to say these conditions are still valid as such if it gets back inside the wave(a) i will still call it the wave c of wave 4 which took all this time and pain to unfold and sell at the break of wave (a) .


will post when entered since things can change in smaller time frame namely 5-15 minutes..

EACAN.

Attached Images

euro2.JPG (143.2 KB, 281 views)

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I am already outside of my discplinary red line and this definately my last trade for this pattern

sell stop eurusd @ 1.2989 sl 1.3023 ( broker's high )

for tp i will update my charts.

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update::: Nopes :: order cancelled not what i was looking for ..
Now it can be anything it wants to be a wave (iv) or a new trend nothing for me to enter right ... now me back to books and be back with a new pattern

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