Counter trend trade Market, i see your target area as good areas to get short,
Any one agree???
What count ,
as a rule of thumb target lines : are just that , tagret lines
( target lines are an objective for price to reach )
in my humble opinion ,
they should not be used as anything else
Reversal trades should not be made off of target lines
-------------------------------------------------------------------
Special Note :
if you want to use a stop reversal trading strategy ,
- then you should in general concentrate on finding your
own lines to trade off of , so that in time you will have
trained eye and your self to find them with confidence
and then apply your own money management rules that
you have set for your self ....................................
--------------------------------------------------------------------
as i said yesterday ,
all this takes time to learn ,and it takes practice .
No one should follow anyone blindly , if follow them at all !
The main reason for being in this is forum to come in and see
different wave -counts other that what you are thinking , ............
Usd/Yen
------------------------------------------
End of Wave C ................?
---------------------------------
Only a Probability ! ....................... Not Cast in Stone !
I am not looking at you target lines for a stop and reverse area, I was merely pointing out that your trade is a counter trend trade and that once this mini bounce is over the larger trend will resume.
So i am already short and looking to enter further shorts, off course using my own money management rules.
Thanks for the tips thou..
Regards
Ray
Originally Posted by marketwavez2
What count ,
as a rule of thumb target lines : are just that , tagret lines
( target lines are an objective for price to reach )
in my humble opinion ,
they should not be used as anything else
Rreversal trades should not be made off of targetlines
-------------------------------------------------------------------
Special Note :
if you want to use a stop reversal trading strategy ,
- then you should in general concentrate on finding your
own lines to trade off of , so that in time you will have
trained eye and your self to find them with confidence
and then apply your own money management rules that
you have set for your self ....................................
--------------------------------------------------------------------
as i said yesterday ,
all this takes time to learn ,and it takes practice .
No one should follow anyone blindly , if follow them at all !
The main reason for being in this is forum to come in and see
different wave -counts other that what you are thinking , ............
You may recall the first chart below (30 year USD chart) being posted last December 5, just before the USD double topped and turned down confirming point 4 in the long-term cycle. We are now within days of the USD rebound ending at the 61.8% Fib. level (84.25, see next chart), just as it did back in 1991. The final leg down to cycle point 5 will take the USD below the March 2008 low of 70.67. Correspondently the EUR/USD pair should bottom out near the inclining trend line around 1.30 and begin its rebound.
From a fundamental standpoint, why should this happen? No one is smart enough to know. However, it will coincide with the new Obama administration / Democratic congress coming into power. Investors may ultimately decide their plans for economic recovery will not work any better than those tried so far, and indeed may worsen the outlook for future inflation, making the USD a less attractive investment. A lack of confidence in future dollar value, due to the inflation threat, may overcome the safe haven status of US treasuries, driving USD demand down. And if our stock markets resume the downward trend, which they seem now to have begun, the USD will be in less demand abroad.
Possible opportunity in GBPUSD coming up.
Attached is a chart from Grega Horvat, he projected wave e to come back to the top of the channel, but it didn't. E-waves can do that, and actually do, more often than not. So, watch for a decicive break of the lower channel to take some shorts.
And then of course, there is this little scenario. Do we have a truncated (@ the 76.4%) "E wave" in an expanding triangle. The suspense is killing me.
here is my preferred. gbpusd should bottom soon....ideally before 1.4350
Jamie Saettele is the author of Daily Technicals, Currency Crosses, and COT on DailyFX.com. He is also the author of the recently published Sentiment in the Forex Market.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Originally Posted by apipintime
Posting Permissions 
Reply With Quote
