stringfx - Thanks for your kind words! The way I see playing EW is like playing chess with the market. If we can get more people to watch the game, we get more ideas about what the market might be going to in its next move. There is no absolutely correct or wrong wave count because anything can happen. As long as we are prepared, we know how to respond to any market scenario. That's why I post my wave count every weekend and hope to get some commments from EW enthusiasts. About GBP, I used to trade those 4 major currencies (or 6 including CAD and AUD). Now I focus only on 2 currencies, so I do not follow Sterling. You are welcome to post your analysis here so that it can benefit everyone here, and also you would get feedback from people here.Hi Snowrider, I am a big fan of EW and your thread is an inspiration. I usually do my own analysis but i do not have anywhere to confirm my counts. I stumbled upon your thread and now i have somewhere to go for confirmation. Thank you. I do not trade stocks but your usd/jpy and eur/usd counts helps a lot. Is it possible for you to post gbp/usd as well? if it is possible and time permits you, i'd appreciate that a lot. Great thread !! Regards
Are the prices you quote cash or futures. Sorry if this is a stupid question. Thanks.
Thanks for the quick reply. I did think it was the cash but just wanted to make sure.
Snowrider, Thank you for your response. May be I did not pick a good example. Say, today is the bottom of the previous (down) wave (before the establishment of wave 1 and 2), then how is one going to ascertain whether this is a 3-wave correction or a 5-wave progressive wave? Or, do you trade wave 1, 2 at all? Or, you will trade through all the 5 waves (in one hit), riding through the wave 2/4 corrections, a swing trade, or do you get out of wave 1, then position for wave 2, and then wave 3 ...... 4, and then 5.
I did started from using TA indicators, and I have played all indicators inside out before throwing them away. I understand and know them too well so that I won't use them. Given a TA indicator, you can ask yourself some simple questions about that indicator:Snowrider, As you know, I have only started to read your posts recently, and am glad to learn that you do not use indicators. I am in a love-hate situation with indicators. I would like to get rid of them completely, however, they nevertheless give me some indication, even though, at times, they do not work at all, but which I have prepared for. Would you be happy to tell me your view point of indicators, and why you dislike them? And how would you be able to notice divergence(s)?