This thread is being set here to show ,,, potential set ups that I am observing ...... to enter various paticular markets that currently I am intersted in .
PLEASE DO NOT CONFUSE THESE POSTS WITH TRADE SET-UPS AS RECOMENDATIONS .
They are all Technical by thier Nature.....
These trades are not being chosen with any fundamental consideration ,, only the chart patterns themselves are being put into a perspective of ELLIOTT WAVES or FIBONACCI RETRACEMENT LEVELS ..... , Also considersed is the Visual Illustration of Significant Multiple support or Multiple resistance areas to give one a sence of where price may be headed ..
Now , Please be aware that some of these TRADE SET-UPS
WILL NOT MAKE IT ,, So To Speak .....
This where the understanding of Risk to Reward comes in ....
One must learn to separate the term RISK TO REWARD from the term
MONEY MANGEMENT ...
though similar ,,,,, THEY ARE DIFFRENT TOPICS ONTO THEMSELVES...
THE IDEA HERE IS TO BE IN TRADES WHERE THE RISK IS say 3- to-1
(for example )
We are talking about finding trades that the objective to get out of a trade is 3 times greater than the amount of money you risk on that individual ..... particular trade ...
The Risk is determined by the diffrence between,,,the entry price and the stop price... This is the Risk...
On the other hand ...
Money mangement is based on how much CAPITAL you have trade with,,,,,, which determins how many shares or contracts ..... should you purchase to enter the trade ....
My hopes are you really understand this principle ////
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
MARKETWAVES
1st-June-2005, 07:04 PM
NOK ..... CAN 17 HOLD UP ?
1ST.... CHART,
5 WAVES UP...... RUNNING INTO RESISTANCE ?......
2ND CHART ,
NOK ..... CAN 17 HOLD UP ?
STARTING TO LOOK BEARISH ?...........
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
MARKETWAVES
2nd-June-2005, 11:48 AM
Live Cattle
This looks like it's selling off and is dumping into a previous area of support ... and the stochastics oscillator is wallowing in the oversold area .... this is very typical of how I go bottom fishing...
Watching this set-up closely ....
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
tech/a
2nd-June-2005, 12:24 PM
Waves.
Great setups.
Its common for setups to fail---thats why they are a setup and not yet a trade.What do you usually use as you buy trigger?
Good to see an expectancy of 3:1 but as you know some wont make it even though they dont get stopped.
So do you have a set exit at 3:1 risk or do you use a technical exit---regardless of Reward to Risk at the time.Can you let it run---?
(A)Do you know what your most consecutive losses are?
(B)Do you know your Biggest "Initial Drawdown"As opposed to peak to valley drawdown.
What sort of Initialcapital would you think appropriate to trade this method.
(A) and (B) above should solve that problem as in make it possible to work back to a figure.
Do you vary risk at all---other than slippage?
Thanks again great analysis.
Unfortunatley wont be around to check their progress.
Win lose or draw this is great for all to see your analysis at work.
I'll be very interested to have a look in when Im back in a few weeks.
DTM
2nd-June-2005, 12:54 PM
Yes MW, nice charts. Good to see an expert at work. That intersection of resistance and support is very interesting. I have just noticed them from your drawings and have added it in to what I do. I must say that its really opened my eyes to looking at a longer term and it gives me great support for intraday trading. Cuts out a lot of noise for me.
Thanks again and much appreciated.
Will buy you a beer if I'm ever in NY again. :bier:
MARKETWAVES
5th-June-2005, 03:28 AM
WEEKLY CORN VIEW ...
CAN WE BREAK OUT OF THIS LOWER CHANNEL ?
PRICES.... look like they broke out on the daily views recently ...
and appears to be pulling back ....
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
MARKETWAVES
4th-July-2005, 12:44 PM
This trade set up is ..... being posted for the sense of appreciation that I get from the one called DTM .....
CHECK OUT THE LAST POST HOW RESISTANCE HAS COME TOGETHER ...
This is intersesting /////
Please don't give me credit for pointing out these lines ... I have learned them form studying the work of Fibonacci Retracements and Elliott Waves ..... These lines work well only when they are tied to certain Elliott Wave structures and certain Fibonacci Retracement levels ..... outside of this they become less reliable...... a whole lot less reliable.. You could never back test a particular stock or commodity for these lines without these 2 basic theories of understanding.
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
RichKid
4th-July-2005, 02:52 PM
This trade set up is ..... being posted for the sense of appreciation that I get from the one called DTM .....
MW,
May I add my name to the list of appreciative followers? There are bound to be more who do not post but just watch.
I was getting withdrawal symptoms after not seeing your charts for a few days! Just thought I'd let you know your chart work is excellent in my view. Keep it up, I'm glad you're continuing your posts. Apologies for not contributing as much but I only trade some of the markets you follow.
MARKETWAVES
7th-July-2005, 01:17 PM
WOW ...... DTM WHAT DID .. I SHOW YOU .... just days ago ...
This kinda thing ,, is happening all the time .... break through 3 major resistance lines ..... tied to Elliott Waves and Fibonacci Retracement lines .... DON'T WASTE YOUR TIME .. looking for this type of set-up elswhere .... ithis workks , DTM..... because of its Elliott Wave structure that it is tied to ..
I am now looking for a place to exit ..... based on targets and objectives ..
By the way , can you send me a list of ticker symbols of the markets that you look at or trade ?... I heard you loud and clear when you said that YOU trade other markets that are not posted here ....
Heres an update .......
DTM
7th-July-2005, 04:22 PM
Nice charts again MW. Good pick on the Unleaded fuel. I've been following oil and it has the same movement as gasoline. Personally I can see oil heading to $70 again before dropping.
I was trading the Diamonds (DIA) and Q's (QQQQ) short term and did well with them. I don't trade them anymore and just concentrate on the Australian Market. I keep an eye on the Dow because some of the companies I track tend to follow the dow. I also look at FX, specifically AUD and USD, Oil and Gold, Copper and some other metals and Treasury bills. I am basically a beginner (9 months now) concentrating on short term trading. I am fast tracking myself as much as possible to try and be a better trader. I am also looking at moving into FX and maybe trading the SPI futures (S&P 200) in Australia as it gives you good predictable (most times) movements.
MW, if you could post up the 5 and 10 year US Treasury bills it would be greatly appreciated. I don't have the ticker symbol but I'll show an example of the 10 year T bill from my Optiongear software.
I'll put up a graph of the 10 year T bill, the candlesticks being the T bill and the line being the Euro. I watch the Euro via the T-Bills for those interested.
