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08-10-2009, 11:22 AM
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EUR/USD
EURUSD has just completed its 5 waves down.good R/R ratio
Long at 1.4144
Stop Loss 1.4127
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08-10-2009, 11:57 AM
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Cable
I wonder if we have a possible ending diagonal scenario unfolding with Cable. We could have completed wave 1 of the ED at 1.7041 and are now in wave 2. Just a thought.
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08-10-2009, 12:09 PM
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Quote:
Originally Posted by apipintime
I wonder if we have a possible ending diagonal scenario unfolding with Cable. We could have completed wave 1 of the ED at 1.7041 and are now in wave 2. Just a thought.
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good idea Jay - I was also thinking of a possible running flat with B completed at 1.7040, and C bottom at appr. 1.6185
Patryk |
08-10-2009, 12:14 PM
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I too believe the USD has finally bottomed out. Stocks are probably in the process of topping out...we should get some sideways action this week as the shift i momentum from up to down could be a driery one. Believe Eur/JPY has about 400 pips to go before putting in a top. That should come on the hinges of a EUro correction...not a YEN collapse...but you never know. Im still watching Eurchf and expecting a collapse soon as price still has yet to prove me wrong. Everytime it comes close to making a higher high, if falls short. Fact of the matter is weve been making lower highs with this pair since October 2007.(allbeit, a new low has not been made in a while) Weve hit resistence once again. Will the lower high phenomenon continue to work. With major markets about to turn, Im betting Yes. Here is still my count. A break above 5446 would prove me wrong.
Last edited by italm31; 08-10-2009 at 12:29 PM..
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08-10-2009, 12:20 PM
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Afternoon E-MINI update.
Well we got the rally on Friday but sold off a big part of it by the close. Today has been soft so far. Technically I see the possibility of a negative signal being sent if we do not make a higher high than Friday (has not so far) and close on a low under Friday's low. Then if the market gets under Thursday's low it gets even more negative. So, the possibility is increasing that we may start to see a correction (or change in trend) shortly. Daily momentum is heading lower with plenty of room before a bottom.
Gold very soft, oil lower, dollar stronger.
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08-10-2009, 12:23 PM
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Cable
Quote:
Originally Posted by fazi
good idea Jay - I was also thinking of a possible running flat with B completed at 1.7040, and C bottom at appr. 1.6185
Patryk
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Nice - I like the running flat idea.
Jay |
08-10-2009, 12:36 PM
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Gbp/Usd
Long Term View
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08-10-2009, 01:04 PM
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EUR/USD
Quote:
Originally Posted by apipintime
Nice - I like the running flat idea.
Jay
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Got stopped out on one of my long positions.
Can anyone comment on my counts please?
Cheers
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08-10-2009, 01:14 PM
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Euro
Quote:
Originally Posted by mike3gdc
Got stopped out on one of my long positions.
Can anyone comment on my counts please?
Cheers
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Hi Mike,
I don't have a chart at the moment, but I see your Wave 1 as an "A", your Wave 2 as a "B", and we are presently completing or have completed "C". |
08-10-2009, 01:14 PM
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Quote:
Originally Posted by mike3gdc
Got stopped out on one of my long positions.
Can anyone comment on my counts please?
Cheers
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Sure but Im going to comment with a question. Euro has been make lowers highs and lows all day. How many SHORTS could you have taken all day that would have worked out? I count about 7. |
08-10-2009, 01:15 PM
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DXY what pattern is this?
Quote:
Originally Posted by apipintime
Nice - I like the running flat idea.
Jay
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I think I favour yours, but... 
ok lets play the pattern recognition contest everyone-
DXY chart 8h - what do you see?
Patryk |
08-10-2009, 01:29 PM
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EUR/USD
Quote:
Originally Posted by apipintime
Hi Mike,
I don't have a chart at the moment, but I see your Wave 1 as an "A", your Wave 2 as a "B", and we are presently completing or have completed "C".
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Hey Jay,
Very interesting observation.you see the correction as A-B-C so you mean we haven't compeleted the 5 of C yet? and Still going higher to around 1.4800 and you believe Ending Diagonal have not worket out here as shown below?
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08-10-2009, 01:35 PM
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Update
Quote:
Originally Posted by Ilovepippin
I think the EuroUSD made a turn. I am waiting for confirmation.
The weekly chart shows a 3-3-5 flat correction from the 1.23 low. Wave 2 very typically retraces 61.8%, which is where we were last week, almost. We now are heading for a price below the 50% retracement. Indicators are turning bearish and there is clear divergence.
The daily chart shows a clear rejection of 4445 level as a double top, important is that the second top, penetrated a little (1pip) deeper. That is significant and a better indication of a double top.
This last move, if a reversal, should come in 5 waves. I am waiting a retrace in form of a wave 2, with a lower high, before I get in.
Here are the charts.
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Do you have an update on this post Pippin?
Regards. |
08-10-2009, 01:44 PM
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Quote:
Originally Posted by italm31
Sure but Im going to comment with a question. Euro has been make lowers highs and lows all day. How many SHORTS could you have taken all day that would have worked out? I count about 7.
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Hi Italm,
well,good question.to me,lower low and highs is sign of a gentle reversal! but I am talking and expecting a some sort of minor correction here to around 1.4330 and as far as EW concerns it should reverse as soon as it complete its 5 waves and its abc...
I am basicly counting on M1 and M5 and the lower low and Lower highs you mentioned are drying out! also big divergence on all time frames except m1 and M5 so a recovery in my case is a fair deal!
Only The Best, |
08-10-2009, 01:58 PM
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Quote:
Originally Posted by marketwavez2
Usd/Cad
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Chart Uupdate ..........
( trade set-up was stopped out )
after falling off of a cliff just a few days ago ....... price-action has now reversed
- and it could have been worse especially looking at at the Us Dollar go through the roof lately
Is price going to go to those targets ? ...... Who knows ?
/////////////////////////////////////////////////////////////////////////////////////////////////////
It's always up to you the individual trader , to decide where to get in and when to get out
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Thanks Marketwavez. Was watching your post (going Short) versus the attempts by Joel Kruger to make a long entry at the same time.
Regards. |
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Tags
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5 waves, abc, corrective, count, elliott wave, ewi, extension, fib, fibonacci, impulse, prechter, retracement  |
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