slick60

8:55am and moving along nicely. Sure would like to have stayed up at 2:15am today when I woke up. It would have been a look at the chart and click "sell market" on the 2:30am 15 min bar close. It was a .786 to the pip retrace and a Steve Mauro "M" signal. Hard for me to get up and trade the European - London open where the best action takes place. Me being in the E.S.T. zone. In any event I am now looking for a low to come in "due" at 9am on the 4 hr bar Monday morning. BUT it can come earlier with the sucker punch Sunday open or perhaps a bit later. These cycles as are all cycles NOT ETCHED IN STONE. However they are one great guide for me and generally will put me on the right side of the market. As I type I am watching this baby fall south. The 4 hr chart I am posting shows you what my thoughts and expectations are right now. Larger Delta points are due on the upside for me and we are running out of time to complete this leg down. Levels of retrace are shown and my preference is the .618 at 1.2644 mainly because of the time factor. I would like to see other ideas, examples, comments so that I do not feel all alone out here in this world. 2012-01-13_0855 - slick60's library 4 hr chart slick We are now in the area where in the past this delta 4 point has come in. A "V" bottom could come in unexpectedly today. Beware of a deep sudden reversal with conviction

Just out of bed 4:50am and find that euro has extended corrective move in the "C" leg retrace to the 1.382 level at 1.2878. The 1 hour chart shows the wave count quite well and now that high syncs up with a delta point due at this time. I feel we should now be moving south to a level of 1.2493 to 1.2640 to complete the 5th leg in the magenta series as shown on the daily chart. 2012-01-13_0509 - slick60's library 2012-01-13_0513 - slick60's library http://screencast.com/t/KgdJKXZm Watch and wait for the next surprise in this pair. slick

Here is a snap taken a short bit ago and I just labelled now to show how in market profile when a bench builds it will generally fill in as this one has since this snap. Probably been shown on other market profile threads in here I imagine. 2012-01-12_1206 - slick60's library http://screencast.com/t/qdqzbc8tM9Js slick

Jan 12 move north looks decent. Comes into line with what I was looking for. We now have a potential 4th wave pattern complete and can project from here where a 5th wave move may go should we go south at this time. One must always be aware the pattern can change into something else - hahaha I hear in the background - just happens to be a fact of life and not trying to cover my ass. 2012-01-12_1024 - slick60's library http://screencast.com/t/9yyM0DOHXY slick

Here we are Thursday morning waiting for the EC press conference to tell us that they are not going to do anything substantial with rates in the near term. This should bode well for the market showing some kind of stability? Really? It will merely be an opportunity for the market makers to take advantage of the good news I feel. Watch out should the market spike north at the news around the 8:30am EST mark. Today we have the sluggish start continuing that I felt was coming yesterday. My first target on the upside will be the 1.2841 level for a retrace and monitor at that time. 1.2858 is a level of S & R to see what price action does if it gets there. Should we blow through that then we are into a decent retrace at this time. Below is a snap of some action as I see it from one of my monitors. http://screencast.com/t/UYpEiFe8Z The look above arrow should be pointing to the "G" period high of 3:45am Good trading folks slick

Jan 11, 2012. The move down from the Tuesday high 1.2792 appears to be in 3 waves. Todays move lower gave me some confirmation that in fact yesterday afternoon we were going through a period of distribution. I did manage to grab a short at 4:21am this morning at the 1.2779 level. To me that is still a portion of a corrective move down to 1.2761 today, a slightly lower low that I was looking for. Moving back to the 1.2841 level now would complete a possible 4th wave and allow for another move lower. This has been a very hard wave structure to label with the economic climate that we are in within the EC. Time has basically run out on the downside and we should be moving north very soon. Where we are in the time cycles it would not be surprising to me to see this wave count morph into something other than a straight impulse structure down as shown in charts I am posting at present. Be ready for surprises on the upside! 2012-01-11_1855 - slick60's library slick60

Here is a daily chart showing Delta points. The Intermediate cycle is in blue; the Medium term cycle is in red and there is a Medium long term cycle showing in black. You can see where these points are "due" as I refer to them in other posts. Each cycle carries significant weight. The current channel in blue that I am showing is derived from an elliott wave count. The gray, yellow and turquoise horizontal lines are quarter point lines - information about them may be garnered from reading and studying the book shown on the chart, if you are not familiar with it yet. I have also noted what price action has been in the recent past on and after FOMC days. There is a lot of information on this chart and shows what I am seeing together with an ongoing analysis of VSA and using market profile charts. This may or may not be of interest to anyone who may choose to read this thread. 2012-01-11_1305 - slick60's library slick PS - for those interested how my charts are shown, I make them using Jing from Tech Smith - a free application. Google it. I think it is neat

Man, just killed my page If they dump on this pair in the U.S. session they may bring it down to the channel shown on this chart 2012-01-11_0917 - slick60's library slick

A potential wave complete of an a-b-c flat 4th wave correction. I have a possible short intermediate term delta due in this low time frame. Now a quickie retrace to a possible higher high and then down to a lower low that 1.2666. Needs to get done quickly http://screencast.com/t/m3vs4a1b2fy8 slick Possibility here is an extended 1st wave complete with 2 more impulse waves to follow. This move down in my opinion not on really big volume

In this thread I will show charts of how I follow the market from what I have learned over the years. Contrary to popular belief Elliott Wave does in fact work. I know a ton of you will say that it is merely subjective and that 10 EW guys in a room looking at a chart will probably give you 10 different counts. That is probably true BUT did you ever stop to think that maybe perhaps one of those guys is right and the naysayers are the other 9? The Elliott Wave Theorist with my EW hero Robert Prechter was really good at one time and now like so many people/businesses out there hires people to do the work whom I really think come from the other 9. Too bad, it is all about the money and getting those subscriptions out there. Call it one way forever and YES INDEED you eventually will be right and jump on that opportunity to get on CNBC or whatever to blow your horn and sell your wares. Damn I wish there were just some good honest people out there to look up to. As you read this post please do not think that this is a thread about Elliott Wave. I think maybe my posts are too long and challenge the attention of a lot of traders who really just want to get on with it. Like wham bam, thank you mam and where is this market going. I am not 100% happy with this count but it certainly is a possible. We still have several hundred pips to go south before this move is over. EW does keep extending and morphing into different patterns but there comes a point when you can discard everything that breaks the rules and then you are left with the truth. click on url 2012-01-11_0748 - slick60's library slick time consuming writing these posts P.S. to thems that wants to know - look for an intermediate to longer term low due near the end of March this year.

I am new to these forums and cannot find a thread dealing with following the euro in forex in a trading way. I would like to share some ideas and charts with this topic. I have a background like a lot of you here of being a simple retail trader in search of that ever elusive win win win ratio that never looks back. I know at this point in my trading career that it only takes money - and I know this will get the hoots and hollers from a number of participants in these forums. However to those who profess to manage large sums of somebody else' money I would be interested to know at what percentage your employer expects you to achieve and start rewarding you with performance bonuses. Watching fiber at the moment I see it is taking away all of my thunder. I cannot type fast enough or make charts to post quick enough for this move. A delta low is due today in my solution so weakness is expected. (Not much credibility to say that after the fact-shit-should have done this last night). It may or may not take out the 1.2666 low of a few days ago. I had (and now gone) a naked poc on my market profile chart that I wanted to point out as a potential target in this move. I will post this chart right now. click on url http://screencast.com/t/60fChmnc slick

I am going to address this post to Isamel but it can really apply to any trader out there trying to win. Have you read Tom Williams book Master the Markets? I am sure this has been mentioned and reviewed etc on the Volume Spread Analysis thread. I am less than a week in TL forums and have not read everything. Just starting. Also there is a Market Profile threadssssssssssssss here that probably have a wealth of information. Read the books by James Dalton, Mind over Markets and Markets in Profile. Tons of information. Take a look at what Steve Mauro is telling you. There are clues from Elliott Wave Analysis that help to answer your question. If you want to look at timing as to when will this market turn which is another clue as to who is playing the game at any given time study The Delta Phenomenon by Welles Wilder. Look at and study the Market Matrix by Steve Copan who has refined and expanded the Delta Phenomenon. Using these tools I looked for a low in the eurusd of 1.2665-75 to come in Sunday night or Monday morning early this week. With delta I had a high due in that currency due to come in during the 9:00am 4 hour bar this morning. The London open reverse came in on schedule during the 3:15am bar this morning after a sharp move down by the market makers through the Asian session to a level of 1.382 times the Asian session range. The market makers then showed one of their footprints by doing a 1.144 retrace of a fake move to trap new shorts and breakout traders. Look at a 5 minute chart (shows there very well ) of how a "W" formed and the move went north. We topped out showing excess on the 15 minute charts (looks good) on 6 bars culminating on the 8:15am bar. This move was a to the pip .786 retrace in relation to a 2nd wave back in November. There is a good possibility that will be the high for this little advance north. If not it has little room to go before a reverse hits it again in my opinion. Market profile started out for most of the day after the last high looking like a "b" pattern which signified long liquidation or "old business". Now the pattern appears to be evolving into a nice balanced day and setting up an area of stops to be run by the MM's. So - how can you tell who is playing the game. Market profile says day traders appear to be in charge since there is no initiative buying or selling BUT I also see this as an area of distribution taking place. We are right on the brink of a substantial move north in this currency pair for about 4 weeks or so. It should have legs and I will be following it. Isamel, there is a lot to learn about as to how this market or any of them work. Lord knows I am still trying to learn and hopefully I may pick up some tidbits from the guys in these forums who are closer to the "holy grail" than I am. Good luck everyone with your trading and may THE LITTLE GUY WIN one of these days. Big money tells us when they are active in the market. Let's crack their code. slick click on link http://screencast.com/t/MrEeQOVao

Isamel Hello to you. I too attempt to trade the forex EURUSD and others but also have a futures account where I follow and trade the 6E almost exclusively. The futures is good because it does in fact give you a volume figure of trades. I run market profile software and follow the market generated information from it. The footprint charts I found confusing to me and I was probably not really able to understand correctly. Knowing how the market moves and why and what to look for is a better bet I feel. I believe you have to develop a feel for the market and be able to recognize a number of things taking place at a given time in order to be able to see the moves of the BIG MONEY. Markets including forex are manipulated and DO NOT let anyone tell you different. One simple, maybe not so simple thing I found was information from this site https://www.marketmakersforex.com/ This video about 2 hours long will shed a bit of evidence on what I am saying. By the way I am in no way connected with MMfx or have I paid them one cent. Just believe me and Steve that this shit really is what happens. Case in point is to look at a 15 minute chart of Fiber today (eurusd) as it is classic of what he says. Bloody amazing. This is a starting point for you - I do not know how much experience you have. I have tons. slick

Hi DD I use market profile software from Final - Home It is very reasonably priced and does the job. It has the capabilities of much more expensive software. I will post a snap of what it appears like. I use the free version of Ninja Trader powered for futures through my futures broker Mirus [powered by Zen-fire] at no cost. I also use Trade Station to power NT for my forex trading. Trade Station is now a free platform for forex trading with a small amount to open an account. Check the NT site out and see if your broker appears on this page NinjaTrader stock, futures and forex charting software and online trading platform. Support. if so then it would be able to provide data for you at no expense. Here is a url to click on to view couple shots of my MP 2012-01-04_1331 - slick60's library TPO counts in various sessions of EURUSD 2012-01-05_1149 - slick60's library EURUSD ending European session and into the U.S. session 2011-12-31_1100 - slick60's library a split profile using 15 minute periods to demonstrate the formation of a "W" and when the Market Maker makes his move these will give you some idea of the capability of the software. It is all about understanding market generated information and how to use it. Jim Dalton really is the best source of basic instruction that I have found. A lot of work involved. slick

Stiffy I wish you all the best in the world because you will need it. I must be one of those guys in the "worst" category. I don't like telemarketers either. Sounds like Patrick and I might be a little bit alike. Sounds like you are with the right group. Good luck to you. slick

Hey all New guy on the block. Old dude, very opinionated, trading since the ark landed on the rocks, say it like it is, I have a lot of info - probably too much; make neat charts and talk a lot if you didn't figure that one out by now. Hope I can add something to the forums with my experience and hopefully I can learn here also. Learning never ends. Need to get a cool avatar. slick60

My oh my oh my! I just joined TL and read this thread. Must say that I did get a number of laughs reading all the bickering back and forth. Knocking a man like Larry Levin and his secret system trades. Well did you ever? I can speak about Larry Levin's firm. They are ONE BIG PAIN IN THE ASS!!!! I cannot believe the nerve and ignorance of them to continually hound you with their boiler maker tactics once they have your telephone number. I notice a freebie promotion from Larry Levin when I joined here a short while ago. I will go on record here and now that should I receive one phone call from that firm in the near future I will not be very nice to whomever is on the other end. So Larry if you get my phone number from this site please take and shove it and I will no longer be a registered member within TL. I look forward to being a member on these forums and feel I may have a lot to offer. Thanks to everyone................ Slick