Thursday, February 25, 2010

By User: Gpd/Jpy

Name: forex-practitioner

Message: Like I said yesterday, I am short gpd/jpy as well. Now I dont think that elliot wave is useless and for losers(never said that). I do think that elliot wave revolves around the market. ALot of the EW rules dont apply anymore due to the high volitile markets of the 21st centruy. Banks and brokers like to manipulate wave count these days too. Ive been burned many times in the begining when I used to think elliot wave was a science. Its basically like an indicator. Its going to be wrong alot of the times unless you use other tools with it.

- I think the gpd and jpy crosses are due for some retracment soon. The parabolic sars on this 4 hr chart are under-neath the moving average and bollinger bands. This is all I can do for wave count right now, theres not much more you can really do with wave count until its complete I guess.
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