Elliott Wave and Camarilla Line trading Plan

[Asmara]

Starting this week, I will be placing trades using a technique made up of Elliott Wave Analysis along with Camarilla lines for Entry/Exit points. There are a few indicators used, but primarily the HMA mq4 is a biggie for turn a rounds, etc.

I will post screen shots and my trades, both good and bad, as I make them.

Please feel free to comment or post queries. This will be a several times a day post on GBP, Gold, and Crude. Any other pairs or instruments you might need, just let me know. I think this will be alot of fun!



Asmara

[Asmara]

Here's where we were at last weekend..

Here's the Hourly chart for Spot Gold. $910-$900 looks very possible on this Zig Zag wave B we are on. Hopefully we shall see this end this week, and can ride the ZZ wave C up. Our rating on this is 108, which is a high probability of success or likelihood, but I don't like to trade the wave B's very much as they are corrective. I'll post more on it as it unfolds tomorrow (Sunday Evening).


As for an entry, we would wait for a clean Break of the Camarilla L3 line now that we have our direction using the H4-H5 line as a target for taking profit. As an example of how the trade would go if we were to take one on Gold currently.

Here it is.....

[Asmara]

Here was last Tuesdays forecast...

Here's the forecast for spot gold. Pretty much the same as the last post. We have a Flat wave heading down to the low $900's before we see a rise back up. Not much of a likely trade as of yet. We need to wait for a good Zig Zag C wave; then we will get into the trade opening part of the story.

Here it is....

[Asmara]

The forecast proved out to be correct early yesterday morning, with Spot Gold bottoming out briefly at $904, then a dead cat bounce on the Crude Rise to $116.92 due to "suspicions" of damage to refineries in the Illinois area after the 5.4 earthquake early Friday morning. Which by all reports, was false.

HERE'S THE CHART......



It looks as if $880 or so is our target which will put us in good shape for a nice run up at that strong support level. I had a $7k profit on 3 lots of spot gold on the run down Friday morning, and am in again with 3 lots short from $910.70 before the run up to $918.

The wave is a Double sideways wave with 128 rating, which is a good rating and they tend to play out close to a Zig Zag wave C in frequency of completing.

I'll post more Sunday Evening.

Comments or other forecasts are welcomed and appreciated.

Asmara

[Asmara]

Well, we are part way there. What a consolidating week for Gold. Whew!


Here's the latest scan on Elliott wave. I'll wait for tomorrow to get in again as it's a bit oversold and wishy washy right now. I took the trade on a break of the L3 Camarilla line all the way down to the L5 line.



profit from this long arduous short trade......

priceless.........

32353482008.04.11 14:28sell3.00gold925.100.000.002008.04.23 15:53902.300.000.0084.00


6840.00

[heks]

Correct predictions! Good job man!

[Asmara]

Thank ya, Thank ya vera' much!!!

I'll post a new forecast Sunday Evening.

Asmara

[Asmara]

Sorry I haven't posted in many moons.

My most recent trades can be found here for now.

Asmara