Posts by "daveo"

The downside for awaiting major news events before entry is that you miss a large part (or all) of a wave move. The beauty of EWA is when your count is correct the move almost always precedes the news or the news further benefits your position---or the news coincides with your predicted wave ending--uncanny. The challenge is to get a highish proportion of the counts right.

I am not advocating jumping into a trade just before a news announcement but if we are talking about one to several days of price action I personally would not hold back to await a future news item. Also the market often reacts illogically to news events so traders who knock EWA should think about this--never underestimate how dumb the market is capable of being.

EWA provides very clear trading parameters within which it's easy to employ a disciplined trading methodology.

Not easy communicating in a forum which is watched by a wide variety of different traders using different timeframes and different methodologies. This forum has to be one of the least focused on the planet and the host man is almost never present. His premium service subscribers feel unable to post here for obvious reasons. Thus the forum does not work for paid subscribers but provides a social meeting place for miscellaneous traders who do not wish to get tied into anything specific :-)

My read is the EU made a significant high on the 20th August and will work its way down to about 1.18 in the usual wave sequences containing both short and long trades. A new high above 1.3450 would violate my preferred count.

The GU is more difficult to read because the 21st August high could be W.3 starting from the B wave low at 1.5100 or it could be a completed C wave which would be a Wave 2 up from the 1.4812 low made on the 9th July. Either count I am bearish the GU longer term which suggests the usd is destined to travel north.

USD north contradicts my fundamental bias which is that tapering will not happen for very long, more likely to see further QE in our futures after maybe 2 or 3 months of 5 - 10 bil tapering. I am trading only technicals because correlations based upon fundamentals keep changing---I feel they are less than helpful.

8352 correction symmetry, ext 8238 with 50% ret in the middle at 8282. I don't know AL's targets !

typo, aus headin to test 9232 first

aye aye skipper, I gonna wait for slightly higher like 3186 test