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08-03-2009, 08:57 AM
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Quote:
Originally Posted by fazi
Hi,
Here`s my 5m cable chart - it is currently trading arround 1.618 extension of wave 1, but this level was penetrated ....
Patryk
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Hi Patryk,
Sometimes Cable likes to overshoot or undergo the Fibo extensions.
Slightly, just to pick the stops and not to let the "weak hands" to either enter ot hold the positions. Cable is very hard to trade..
So, it's still possible that this 1,61 extension is working...
By the way, talking about the 1 min. chart.
Have you considered the following count ? |
08-03-2009, 09:00 AM
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Quote:
Originally Posted by ravno
Hi Patryk,
Sometimes Cable likes to overshoot or undergo the Fibo extensions.
Slightly, just to pick the stops and not to let the "weak hands" to either enter ot hold the positions. Cable is very hard to trade..
So, it's still possible that this 1,61 extension is working...
By the way, talking about the 1 min. chart.
Have you considered the following count ?
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Yes Ravno - I see it - quite possible - we`ll soon see - thanks for your comentary
Patryk |
08-03-2009, 10:05 AM
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GBPUSD trade update
Took 2 lots off table at 560 pips profit. 3rd lot still open, stop at top of wave 1.
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08-03-2009, 10:07 AM
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have you noticed audusd trading slightly above 61.8 fibo from a top ? - seems to be struggling - worth watching I guess
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08-03-2009, 10:10 AM
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AM E-MINI update.
I'm including in this mornings chart update the chart for the NQ as well. Both markets gapped up again strongly. On the surface everything is continuing along very bullishly. However, I'm seeing the potential for a divergence here between these two markets. While we have made a new high in the ES the NQ so far has not equaled last weeks high. That is not to say it can't or won't by day's end. But, right now with all the bullish numbers out it so far has not. Today's close will be important to the continuation of this stellar rally.
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08-03-2009, 10:15 AM
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Quote:
Originally Posted by fazi
have you noticed audusd trading slightly above 61.8 fibo from a top ? - seems to be struggling - worth watching I guess
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yes, post a chart, please...
i'm , in the mean time, trying to figure ot what is going on with EUR.USD... |
08-03-2009, 10:16 AM
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Us Dollar
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08-03-2009, 10:25 AM
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EUR.JPY
The trade from the last week has been stopped-out....
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08-03-2009, 10:25 AM
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Quote:
Originally Posted by ravno
yes, post a chart, please...
i'm , in the mean time, trying to figure ot what is going on with EUR.USD...
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Here is weekly audusd chart |
08-03-2009, 10:47 AM
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Here is a chart of the SPX. We have hit the lower end of the gap that Market kept drilling in my head would be closed.
Strong resistance in this area and a very overbought RSI. Will the rally stop? Euro has broken out (1.4420), oil is flying ($72.00), gold is moving up ($964) so by all indications everything should continue.
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08-03-2009, 10:55 AM
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Quote:
Originally Posted by diver
Market,
I'm not sure I agree with your CAD daily count. Wave A traveled 2281 pips. If wave C = wave A it would be at .9441. The old low was .9056. It's not out of the question that wave C and the entire wave 2 (?) correction could go this far. In fact, it may do so. But, if it ultimately does I think it might have to finish another up leg to complete wave B first.
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Usd/Cad
Chart Update ............. ( long term ) Daily bars
Last edited by marketwavez2; 08-03-2009 at 11:06 AM..
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08-03-2009, 10:57 AM
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Quote:
Originally Posted by diver
Here is a chart of the SPX. We have hit the lower end of the gap that Market kept drilling in my head would be closed.
Strong resistance in this area and a very overbought RSI. Will the rally stop? Euro has broken out (1.4420), oil is flying ($72.00), gold is moving up ($964) so by all indications everything should continue.
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Inflation is on the horizon once again ..............  !
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Last edited by marketwavez2; 08-03-2009 at 11:07 AM..
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08-03-2009, 11:03 AM
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Usd/Cad -----
////////////////////////////
Mid-term wave count
- Price action appears to be moving towards an End of wave 5 somehow
---------------------------------------------- -------------------- ----------------- ---------------
Last edited by marketwavez2; 08-03-2009 at 11:08 AM..
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08-03-2009, 11:18 AM
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eurusd
Darn, missed this one.
Entry was at the top of wave 1. However, missed it eventhough I had set an alert. 
Waiting for a retrace close to top of wave 1 to enter again... |
08-03-2009, 11:19 AM
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cable update
Quote:
Originally Posted by fazi
Hi,
Here`s my 5m cable chart - it is currently trading arround 1.618 extension of wave 1, but this level was penetrated and 5` looks undone on 1m chart, so either one more push slightly above last or a rally up to 2.618 extension of wave 1 is probably on the way. In case wave 3 top is/will soon be in place a correction should bring the cable down to 1.67 level
congratulations Ilovepippin - good trade
Patryk
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OK - I think I`ll move my TP level to 1.7080/1.71 - that is 2.618 extension of wave 1 (1.7080) while a classic extended 5th of 3rd ((1`+3`)*1.618) has target at 1.71
Patryk |
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