Sydney Kris' Journal

[Dave]

Spectacular

[KrisL]

Thanks guys, hope its helpful! I managed the Aussie trade around the constraints of my lifestyle - closed most before going to bed last night, and then closed the rest when I got up this morning ahead of the FOMC minutes being released in the US.

20 au.png

[Nikita]

Holy.. Khm.. So many trades and all were profitable! Bravo! (wd)

[KrisL]

EU and EJ trades for me last night. The first EU entry was a H1 seed which I thought looked good. The second entry was a classic S1. Just before news, I took off most of the position. I left a little bit running because my stop was relatively far away and I had already booked some profit. The news spike gave me a little more, and I took it. Turned out I could have taken more, but this type of thing is more like gambling than trading, so I didn't want to push my luck.

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EJ was a similar story. This entry was taken on M5, and this time I closed everything on news.

21_EJ.png

[KrisL]

The fun on UJ started last night (Australian time) with the completion of wave C down. It then produced a beautiful 5 wave impulse all the way to upper channel line. This was a nice trade, spoiled by a terrible exit. By Fibonacci, TZ1 was just beyond the trend line, and I insisted on seeing price reach that point before exiting. Of course, it touched the upper channel and reversed. I was stopped out on trailing AIMS levels. Very nearly a perfect trade. I feel like I'm getting good at this Elliot wave stuff, but need to do some work on my greed.

20-21_UJ_Elliot_wave.png

[Nikita]

It looks like sonn we could have another Franz!
Nice trade!

[Darren]

Great trading Kris - nicely done. :-bd

[immy]

The fun on UJ started last night (Australian time) with the completion of wave C down. It then produced a beautiful 5 wave impulse all the way to upper channel line. This was a nice trade, spoiled by a terrible exit. By Fibonacci, TZ1 was just beyond the trend line, and I insisted on seeing price reach that point before exiting. Of course, it touched the upper channel and reversed. I was stopped out on trailing AIMS levels. Very nearly a perfect trade. I feel like I'm getting good at this Elliot wave stuff, but need to do some work on my greed.

20-21_UJ_Elliot_wave.png

Well done on the setup and trade nicely done

A word of caution: you don't need to work on elliott wave, all you have to do is "understand how to trade eWave". cheers

[KrisL]

Thanks Immy. I am starting to understand and believe what you have been telling me all along about Elliot wave. Like I said in Nikita's journal, I guess I just needed to learn this for myself. Having said that, I will stick with my EW analysis because it is working for me, but Immy I definitely do acknowledge that understanding how to trade EW is far more important than working on EW. At the end of the day, its the setups that get us in and out of trades, EW is just a signpost, nothing more.

Anyway, here's my day on UJ today. A premature short, then some patience, and the payoff late in the day (Australian time). Immy - I'll apologise for the EW stuff on my chart, but it gives me confidence in my trades! Despite the EW stuff, all my entries are either M5 or M1 AIMS setups. I also had a couple of rents on AU today, but overall happy with the way I am trading. I feel like progress has been made.

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[immy]

Enjoy my friend!

My job is to point you in the right direction and that is entirely based on my very humble opinions, and yours, again IMHO, is to do whatever that pleases you! after all at the end of the day, it is true that, You trade your account and it does not affect me at all. (hug) (hug)

If one was to question your count, I'm not sure you'll be able to defend it, as we all know that the count is "personal" and "subjective" not all Ellioticians will ever agree on the count. e.g. which time frame do you start your count from and where does it end? etc etc. But as you said, if it works for you and gives you confidence, why the hell stop. Enjoy and carry on! I'll be watching closely...

cheers

pst: I'm watching Fran closely too. It fascinates me...