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06-02-2008, 10:30 AM
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Join Date: Jul 2005
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Quote:
Originally Posted by CodyB
do you have an update for this?
Gap still open but will it close  |
Only Time will tell if it will get closed ............... 
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06-02-2008, 10:31 AM
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Posts: 3,865
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Gbp/Usd
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Result charts for last nights Gap set-up.........
( trade set-up got stopped out )
Long @9720 ..................Exit 9708....... -12 pips
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Last edited by marketwavez2; 06-02-2008 at 10:49 AM..
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06-02-2008, 10:46 AM
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Join Date: Jul 2005
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Us Dollar
Usd/Chf
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Original Post : # 8000
http://www.learncurrencytrading.com/...13880&page=534
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Last edited by marketwavez2; 06-02-2008 at 11:22 AM..
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06-02-2008, 10:48 AM
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Join Date: Jul 2005
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Usd/Chf
Pg/2
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Result charts for last night's Us Dollar set-up.........
( Price target was reached )
Short @.0412 ................ Stopline .0434 ............. Target.......... .0390
Short @.0412 ...........Exit @ .0390 ...........Gain +22 pips
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Last edited by marketwavez2; 06-02-2008 at 11:20 AM..
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06-02-2008, 11:18 AM
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Guys,
Correct me if I am wrong BUT, am I seeing a CLEAR 5 waves down on the hourly here? AND, what looks like a clear developing counter trend ABC up.
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06-02-2008, 11:33 AM
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Driver;
That's what I'm counting with a target of 5597. But, I am a little uneasy about it for some reason. Time will tell. No position.
Good Luck.
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06-02-2008, 11:49 AM
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Join Date: Jan 2008
Posts: 773
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Quote:
Originally Posted by diver
Guys,
Correct me if I am wrong BUT, am I seeing a CLEAR 5 waves down on the hourly here? AND, what looks like a clear developing counter trend ABC up.
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Looks like 5 to me! However we have to be careful in observing random 5 wave moves without acknowledging the larger trend. I'm not sure if you're bullish or bearish medium term on the EUR/USD so I'm not speaking directly to you, I'm just talking in general. If we don't have proper perspective of the bigger picture, we can be fooled by a random 5 wave move because it could be a C wave ending a correction.
To play contrarian, you labeled the wave from 5460-5775 an a-b-c, but from what I can see that can easily be a small 5 wave rally. And by looking at the bullish bar, then bearish bar, then bullish bar in the 5540-5560 area, it looks like a nice consolidation that would fit nicely as a wave 4. Then following that, we have a clear 3 waves down, without breaking the low of 5460.
Also keep in mind that the dollar rallied hard after better than expected ISM data, but has now reversed to be weaker than it was prior to the news data coming out. This obviously is dollar bearish (EUR/USD bullish).
Regardless of the larger trend, I definitely agree with you that the pair is moving higher, which speaks loudly for the dollar as a whole in the majors (except AUD and CAD which I am not following).
Just my random thoughts....
Good chart, Diver, thanks!
American-T
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06-02-2008, 12:14 PM
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Join Date: Mar 2008
Posts: 114
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Quote:
Originally Posted by diver
Guys,
Correct me if I am wrong BUT, am I seeing a CLEAR 5 waves down on the hourly here? AND, what looks like a clear developing counter trend ABC up.
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Hey Diver,
This is what I am seeing on the hourly ... looks like it's in a W4 correction.
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06-02-2008, 12:29 PM
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Here is what could be happening with GBPUSD on the M15 time frame... one more leg down is needed to complete 5-wave move down ... before pair reverses and fills gap.
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06-02-2008, 12:36 PM
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Diver,
The stock market trade I talked about yesterday looks real good. Hopefully you were able to take advantage of it somehow.
American-T
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06-02-2008, 12:50 PM
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Join Date: Jan 2008
Posts: 1,219
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Quote:
Originally Posted by American Trader
Diver,
The stock market trade I talked about yesterday looks real good. Hopefully you were able to take advantage of it somehow.
American-T
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AT,
You are killing the calls in stocks! Great job. AND, I'm getting my share. :-) Thanks.
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06-02-2008, 12:51 PM
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Member
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Posts: 1,219
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Quote:
Originally Posted by fxctrader
Hey Diver,
This is what I am seeing on the hourly ... looks like it's in a W4 correction.
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Nice chart trader. Looks like a sell on the correction to me.
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06-02-2008, 12:55 PM
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Member
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Join Date: Jan 2008
Posts: 1,219
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Quote:
Originally Posted by American Trader
Looks like 5 to me! However we have to be careful in observing random 5 wave moves without acknowledging the larger trend. I'm not sure if you're bullish or bearish medium term on the EUR/USD so I'm not speaking directly to you, I'm just talking in general. If we don't have proper perspective of the bigger picture, we can be fooled by a random 5 wave move because it could be a C wave ending a correction.
To play contrarian, you labeled the wave from 5460-5775 an a-b-c, but from what I can see that can easily be a small 5 wave rally. And by looking at the bullish bar, then bearish bar, then bullish bar in the 5540-5560 area, it looks like a nice consolidation that would fit nicely as a wave 4. Then following that, we have a clear 3 waves down, without breaking the low of 5460.
Also keep in mind that the dollar rallied hard after better than expected ISM data, but has now reversed to be weaker than it was prior to the news data coming out. This obviously is dollar bearish (EUR/USD bullish).
Regardless of the larger trend, I definitely agree with you that the pair is moving higher, which speaks loudly for the dollar as a whole in the majors (except AUD and CAD which I am not following).
Just my random thoughts....
Good chart, Diver, thanks!
American-T
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Thanks AT. I'm not bullish or bearish at the moment. I'm waiting for a breakout of the ranges and for a TREND to be reestablished. In the meantime just playing some very short term moves with no bias. Gas money as I call it. :-)
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06-02-2008, 12:58 PM
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Member
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Quote:
Originally Posted by diver
Thanks AT. I'm not bullish or bearish at the moment. I'm waiting for a breakout of the ranges and for a TREND to be reestablished. In the meantime just playing some very short term moves with no bias. Gas money as I call it. :-)
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BTW, still waiting on gold to breakdown. That will be the killer trade that will make some real change in a day or two. You know how that market goes when it hits technical levels. :-)
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