HamzaLeith

EURAUD LONG TERM FORECAST

Short
FX:EURAUD   Euro / Australian Dollar
Idea is based on a combination of Elliot wave theory and median line analysis. In addition the application of Fibonacci extensions and retracements is used. This idea is not meant as a trading advice (none of my idea's is) but rather as a refelection of my thoughts about the progression of future price action. Good luck

Comments

although I am in the process of revising my trading style, this one went amazingly well
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go ahead Mr Hamzaleit , in fact i still say elliot wave is the best way to use on the live account if you want make money but i have a question dear , if i want to use your trading idea i need to wait to see confirmation like a price action patterns or just the price reach the level for buy or sell and open my trades ?
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HamzaLeith mazen.fawakery
That is a good question Mazen, Personally I use RSI (7 close) trendlines and sometimes bollinger bands to identify reversals. I always buy and sell at these median lines/ sliding parallels! To keep my risk low. Check out some of my other idea's to fully understand what I mean. Cheers Hamza
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Why are you trying to predict every move ??
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HamzaLeith vlad.adrian
Hi Vlad, It is not really my purpose but as I am using Elliot wave ( moves always consist of 5 waves) as a predictor I have to decide where these waves are going to come. I try to combine that as good as I can with Median lines...that is why you are witnessing such approach. Cheers Hamza
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vlad.adrian HamzaLeith
I see, well, everybody with his style! Cheers
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HamzaLeith vlad.adrian
If you have tips or suggestions I would love to hear them, that is what TV is for right? sharing knowledge and improving ones style along the way!. Tnx for your input
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vlad.adrian HamzaLeith
Well my advice is to change your system. Such forecasting doesnt work, you can't make money this way. You might get it right here and there, but it's impossible to be profitable trading these forecasts. If you made money using this type of trading, please prove me wrong.
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HamzaLeith vlad.adrian
Thank you for your advice, I like my system just as it is and yes I am making money, But as you can see I haven't been applying it for a long time, at the same time I am publishing a lot of idea's so let us wait and see how those work out. It is all about Risk/Reward and sound money management my friend!
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vlad.adrian HamzaLeith
Well if it works for you, then it's all good !
+1 Reply