Saturday, July 9, 2011


Our Trailing Stop Loss has been hit. As shown above, Euro has probaly completed wave ii. Now is the most exciting part that most elliot wave trader has been waiting for, wave iii.

If all the current wave count is valid, we can take advantage and ride the 3rd wave of the smaller degree.




TRADING PLAN : Place Limit Order to short Euro above 1.4300 area. Place Stop Loss for 200pips. 1st Take Profits level is suggested at Fibo Expansion at 61.8. Same as our previous strategy, use Trailing Stop Loss! Take Profits level will be updated after we are very clear with the price direction


*Beware, our prediction is not guaranteed to be accurate. Always control your risk and don't be greedy.


THESE SIGNALS/ ANALYSIS ARE PURE FROM OUR TEAM. PLEASE APPRECIATE OUR HARD WORK AND DON'T BE A COPYCAT.


To Our Success,

Elite Bisnes Team

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Chaikin Money Flow

Developed by Marc Chaikin, Chaikin Money Flow measures the amount of Money Flow Volume over a specific period. Money Flow Volume forms the basis for the Accumulation Distribution Line. Instead of a cumulative total of Money Flow Volume, Chaikin Money Flow simply sums Money Flow Volume for a specific look-back period, typically 20 or 21 days. The resulting indicator fluctuates above/below the zero line just like an oscillator. Chartists weigh the balance of buying or selling pressure with the absolute level of Chaikin Money Flow. Chartists can also look for crosses above or below the zero line to identify changes on money flow.
Chaikin Money Flow Interpretation and forex signals
Chaikin Money Flow (CMF) is an oscillator that fluctuates between -1 and +1. Rarely, if ever, will the indicator reach these extremes. It would take 20 consecutive closes on the high (low) for 20-day Chaikin Money Flow to reach +1 (-1). Typically, this oscillator fluctuates between -0.50 and +0.50 with zero as the centerline.
Chaikin Money Flow measures buying and selling pressure for a given period of time. A move into positive territory indicates buying pressure, while a move into negative territory indicates selling pressure. Chartists can use the absolute value of Chaikin Money Flow to confirm or question the price action of the underlying. Positive CMF would confirm an uptrend, but negative CMF would call into question the strength behind an uptrend. The reverse holds true for downtrends.

Buying/Selling forex signals
Chaikin Money Flow can be used to define a general buying or selling bias simply with positive or negative values. The indicator oscillates above/below the zero line. Generally, buying pressure is stronger when the indicator is positive and selling pressure is stronger when the indicator is negative.
While this zero line cross seems simple enough, the reality is much choppier. Chaikin Money Flow sometimes only briefly crosses the zero line with a move that turns the indicator barely positive or negative. There is no follow through and this zero line cross ends up becoming a whipsaw (bad signal). Chartists can filter these signals with buffers by setting the bullish threshold a little above zero (+0.05) and the bearish threshold a little below zero (-0.05). These thresholds will not entirely eliminate bad signals, but can help reduce whipsaws and filter out forex signals .

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