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02-23-2008, 05:53 PM
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Join Date: Dec 2007
Posts: 50
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eurusd
Looking for correction this week to 1.4650 range.
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02-23-2008, 05:56 PM
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Join Date: Oct 2005
Posts: 1,606
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Quote:
Originally Posted by mrbaker1917
Further, we here in Alberta produce the most expensive oil in the world from Athabasca Oil Sands. Do you know the cost?
$17 per barrell
Further, why are the oil companies shutting the wells down, if the lifting cost is above $9 per barrell?
Why is Encana showing $5B profit on $15B revenue?
Just think about it, guys. Be an independent thinker, like one of our trading friends on this forum told me recently.
Mike
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Hey Mike!
I read you live in Alberta. I was born in Edmonton! I now live in California, but my parents and siblings are all there. I certainly agree about the impact of the price of oil. I can barely afford to visit them; a venti Americano at Starbucks there costs $3.80 CA! Anyway, hello to a fellow Albertan.
Mark[/quote]
Starbucks is the most perfect example of everything that is wrong with our economy. Bob Prechter uses Starbucks frequently as a barometer of excessive exuberance and coming deflation. In terms of Elliott Wave, the absolute blow-off top in 5th wave, i suppose.
BTW: Yes, I live in Alberta, in Edmonton in fact. Hello to you, a fellow Albertan expat.
Mike
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02-23-2008, 06:28 PM
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Hi guys
EURGBP has given me a lot of grief, personally I had more than one consecutive positions, which either lost pips or were stopped recently.
But, now I think that I am seeing a pattern.
To me it looks like a triangle is just about to burst in termination of wave 4.
Please see below.
I will go long when the market opens. Will put my stop just below leg C in the triangle, around 0.7525
Mike
Last edited by Big Mike; 02-23-2008 at 06:34 PM..
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02-23-2008, 10:30 PM
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Posts: 4,488
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Quote:
Originally Posted by Big Mike
What happened just now!
what is this massive move in DOW in the last 20 minutes of the week,
Huge movement in Japanese crosses, too, by 50 pips plus within one minute, specially GBPJPY.
There is nothing on Bloomberg or FXCM daily plus.
Mike
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Daily Bar chart of the the Dow as of Friday 2/21/08..............
Where is the rally you speak of ? .............
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Is Intraday charts and the News causing emotion again /..... 
Last edited by marketwavez2; 02-23-2008 at 10:35 PM..
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02-23-2008, 10:51 PM
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Senior Member
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Join Date: Oct 2007
Posts: 728
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Where is the rally you speak of ? .............
Difficult to observe the last 20 min action in a Daily Bar Chart. You need a 1-day chart.
Seemingly there was some news brewing about AMBAC bailout and that triggered a change of sentiment in the market. AMBAC is the bond insurer company with a AAA credit rating. If they run into difficulties then their rating will fall, and consequently the value of mortgage-bundled securities and could effectively result in the loss of tens of billions on the part of investors.
The market movement, therefore, is knee jerk and I expect it to return to fundamentals quite soon. I also expect early intervention by central banks to control the strength of their respective currencies, which will ruin the short term technical and fundamental analyses.
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02-24-2008, 05:26 AM
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Join Date: Aug 2005
Posts: 8
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Quote:
Originally Posted by Jamie Saettele
On FXCMTR. If you are an FXCM client, then you have a login to FXCMTR and I post stuff there everyday that only clients can see (stuff that is not on DailyFX)
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Hello Jamie
Iam an FXCM client can you send me where and when can i log to FXCNTR to read your post stuff.
Thanks
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02-24-2008, 07:20 AM
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Member
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Join Date: Jan 2008
Posts: 127
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Quote:
Originally Posted by Big Mike
Hi guys
EURGBP has given me a lot of grief, personally I had more than one consecutive positions, which either lost pips or were stopped recently.
But, now I think that I am seeing a pattern.
To me it looks like a triangle is just about to burst in termination of wave 4.
Please see below.
I will go long when the market opens. Will put my stop just below leg C in the triangle, around 0.7525
Mike
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Hi Mike,
I understand why you get stopped out .... i think your stops are too tight ..... a stop in a triangel should be below A leg .... better to reduce the position size and be successfull on the trade.
Anyways for me EURGBP is not a buy before we see a close above .7610 or maybe on a retracement 0.7360/0.7300 .....
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02-24-2008, 07:27 AM
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Member
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Join Date: Jan 2008
Posts: 127
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Quote:
Originally Posted by DollarBull
Where is the rally you speak of ? .............
Difficult to observe the last 20 min action in a Daily Bar Chart. You need a 1-day chart.
Seemingly there was some news brewing about AMBAC bailout and that triggered a change of sentiment in the market. AMBAC is the bond insurer company with a AAA credit rating. If they run into difficulties then their rating will fall, and consequently the value of mortgage-bundled securities and could effectively result in the loss of tens of billions on the part of investors.
The market movement, therefore, is knee jerk and I expect it to return to fundamentals quite soon. I also expect early intervention by central banks to control the strength of their respective currencies, which will ruin the short term technical and fundamental analyses.
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I have been in this game for 15 years ...... and there is something very important i have learned !!! Never wait for interventions to save your position .... you will loose your capital before. Anyways, even when you see an intervention the market will behave according to elliot wave ..... amassing isnt it !!! :-).
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02-24-2008, 07:54 AM
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Join Date: Jan 2008
Posts: 6
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I am very confused about this chart and elliot wave patterns as there is no beginning and ending. any one who can teach how to project elliot in my chart is doing a good service
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02-24-2008, 08:02 AM
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Join Date: Jan 2008
Posts: 127
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EURUSD count
Quote:
Originally Posted by tonyk
Looking for correction this week to 1.4650 range.
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It seems your count has an overlap between i/iv .... have a look at my recent count .... i'm also looking for a correction ....
please comment !!
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02-24-2008, 09:42 AM
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Join Date: Jan 2008
Posts: 127
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EURUSD close up
Here is a more detailed analysis .... the count seems to be near perfection :-)
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02-24-2008, 10:43 AM
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Join Date: Dec 2007
Posts: 61
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Quote:
Originally Posted by danishfx
Here is a more detailed analysis .... the count seems to be near perfection :-)
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Danishfx thank you for that detailed chart, it does help confirm a few things for the coming week..
would you mind working up a GBP/USD chart as well?
Thanks
TM
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02-24-2008, 01:17 PM
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Member
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Join Date: Jul 2005
Posts: 4,488
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Quote:
Originally Posted by Big Mike
What happened just now!
what is this massive move in DOW in the last 20 minutes of the week,
Huge movement in Japanese crosses, too, by 50 pips plus within one minute, specially GBPJPY.
There is nothing on Bloomberg or FXCM daily plus.
Mike
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Quote:
Originally Posted by DollarBull
Where is the rally you speak of ? .............
Difficult to observe the last 20 min action in a Daily Bar Chart. You need a 1-day chart.
Seemingly there was some news brewing about AMBAC bailout and that triggered a change of sentiment in the market. AMBAC is the bond insurer company with a AAA credit rating. If they run into difficulties then their rating will fall, and consequently the value of mortgage-bundled securities and could effectively result in the loss of tens of billions on the part of investors.
The market movement, therefore, is knee jerk and I expect it to return to fundamentals quite soon. I also expect early intervention by central banks to control the strength of their respective currencies, which will ruin the short term technical and fundamental analyses.
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This chart below is Daily Bar chart of Dow Jones
-------------------------------------------------------------------
Can you post bar chart with the rally you are speaking of ?
Because it sure isn't in the Daily Bars .........
////////////////////////////////////////////////////////////////////////////
Dow Jones has been on a downward slope
over the last 2 weeks ( Daily- Bars )
Again , where is the rally ?...... 
-Please illustrate ,
- Please post chart showing the rally ..............Thanx alot !
Last edited by marketwavez2; 02-24-2008 at 01:20 PM..
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02-24-2008, 01:43 PM
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Member
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Join Date: Jul 2005
Posts: 4,488
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Quote:
Originally Posted by marketwavez2
Eur/Usd
Here is a Short-Term Wave-count ( 1 Hr bars )
///////////////////////////////////////////////////////////////////
Price action appears to be moving toward an End of Wave 5
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Only A Probability ! ................ Not Cast in Stone !
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Hmmmm,
there seems to be a strong consensus here
since I posted this chart of the Euro .,........
Original Post -----------
http://www.learncurrencytrading.com/...13880&page=269
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Now ,at least 3 other traders in here
now see and End of wave 5 in the EURO/USD
Ok,,,, thats great -
( Like minded people in here as far as the wave-count goes )
Here the question now ,
Is it Time Short ? or is it Time to look to Go Long ? ...........
Let's see what happens by say ,
Wednesday 2/26/08 this week comming up
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Is ANYONE ELSE GOING TO POST A WAVE 5 CHART OF THE EURO/USD ?
IT's STARTING TO LOOK VERY OBVIOUS ,
to many of you Elliotitians in here about the posture of the Euro
The Euro/Usd Chart now has 5 clear waves upward in it ....
( a true reflection of the trader psycology , )
...... So clear , is theses 5 waves in the Euro , it's a " No Brainer "
///////////////////////////////////////////////////////////////////////////////////
Here is the Original Chart
-----------------------------------------------------------
Last edited by marketwavez2; 02-24-2008 at 01:47 PM..
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02-24-2008, 02:02 PM
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Member
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Join Date: Jul 2005
Posts: 4,488
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U.S. Recession ............. !
will be confirmed in skyhigh Euro Prices
Let us not clear the multi-year highs that were made in 2007
in the Euro/Usd pair , or we are in trouble here in the US .........
---------------------------------------------------------------
/////////////////////////////////////////////////////////////////////////
Last edited by marketwavez2; 02-24-2008 at 02:36 PM..
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