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This fifth and final JPG, I lowered the time frame to days and am now showing the wave count & position I believe that it is in.

Fourth JPG

third JPG

This second JPG shows that a proper Fib Retracement may have been reached

For me to show what I see and how I arrive at it I will post 5 JPGs. I always start with the longest possible time frame given the constraints of the platform.

In reply to your request for comments. I was under the impression that EW is always a 5-3-5 pattern, and labeled 1,2,3,4,5 followed by a,b,c followed by 1,2,3,4,5 Also when a B wave is in a contracted or Zig Zag pattern it is labeled a,b,c,b.c And usually this contracted or Zig Zag pattern...

Hi Digs, "Sorry you dont know China well enough" You are right that I do not know China well enough, YET. I've only been going there since 1970 and find I admire them more and more everyday for what they are accomplishing. They have not forgotten their heritage and great things are still...

I agree with some of what you suggest, however if global deflation happens...I believe the quickest recovery will be in the Yuan. I see the Chinese has the manufacturing capability with extremely low labor costs, very limited domestic market that could be grown quickly along with price...

Curious...have you tried your indicator on something that has exhibited extreme pressure and volatility in either direction to see if it will spot the top/bottom direction change? My thinking would be something like the OIH or GM.

I agree completely! The only thing I could add is that it is not possible for a trader to exploit every opportunity that presents itself, therefor there is no logical reason to not share. Plus even if one gives away the secret it probably not be exploited correctly by others.

I am still letting the GBP/USD trade run and just noticed something odd...the trade had a drawdown over these past two days but has recovered to the initial trade entry price...but it shows a positive $16.50...I assume this is "interest" earned on the trade thus far...if I am correct...how often...

Jodi, Thanks for the heads up! We vacation in China & Hong Kong quite regularly and I was thinking that the more flights that get cancelled to vacation, business or tourist areas is going to have a huge ripple effect on tourism, hotels, restaurants...well you get the idea...So this may be...

my definition of swing trading as I trade means take a position for a few days up to two weeks. What I saw in this first demo trade I would have considered it scalping or day trading if I had exited and re entered..

When trading Forex which is it best to do as a swing trader...take a position based upon projections for a few days or for a few hours? The reason I ask is I read this and your other journals, downloaded the MG Financial Demo and placed a long trade (1 unit) in the GBP/USD @ a limit of 1.7597...

Is there such a thing as time and sales (for tape reading) in forex?

fstrader HYRF has resistance on the daily chart at $0.96 and support @ $0.90 on the intraday chart...if it breaks above resistance and holds or bounces off support later today I will trade...otherwise I'm just watching EYII is doing exactly what it did the last time (fake out moves)...I...

both popped up on my scanner for today...watching what HYRF does @ $0.90...if it shows strength I will trade it, but EYII when it performs like this I get cautious...

I've tried several scanners, stockcharts, Dragon @ OX, Stockfetcher and Trade ideas (during free week @BD), and smallcapcenter tools. I still use Stockcharts, smallcapcenter and Stockfetcher. I have written my own screen filters @SF including ones that scan for optionable stocks and have...

Just looking at BBI for a possible bounce. It has not been this low since Oct 2001 and is showing extremes in oversold...was thinking of limiting risk with some Jan 06 $5calls or a call spread...what do my fellow ETers think? Is it ready for a small bounce or should we get the shovels ready for...

I was curious about a vulture play on DAL and now NWAC also. This past week on PBS here in Atlanta Gene Henssler who runs a fund was discussing DAL with the commentator. As a follow up they will be discussing DAL on WGST AM640 radio here from 9 AM to 11 AM this Saturday morning. This should...