RAvno,
None of the links work in google nor in youtube. Do you have a direct working link?
Thanks in advance

Italm and qsx, if you allow me to enter your discussion - I agree that the first one is really an expanded flat, while, the second one is a 5 wave sequence down. Of course, there is always the chance that I am WRONG

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For some of you might be interesting news I found: Argentina and Brazil quits USD Barnabas Nagy Argentina and Brazil quits US dollar
Brazil, Argentina start bilateral transaction with local currencies_English_Xinhua
Press TV - Brazil, Argentina abandon US dollar
This is not by chance I guess they know what's going on behind the curtain about the AMERO.

I watched the Zeitgeist movie. The first part is good; it is dealing with creation of money. The only exception is that the fractional reserve at the banks is not 10% anymore. Couple of years back it was lowered down to 3% and this is where the big problem for the banking industry originated. All of a sudden the banks were 3.3 times richer; they had additional 3.3 times more money to spend, or "invest" into all sorts of bonds, shares, mortgages. Since the amount of high quality investments did not increase, they spend money on total garbage, like mortgages valued at 110% property cost. Just read about it; people buyinh houses with NO MONEY DOWN, plus 10% for the closing cost, moving cost etc. NINJA mortgages and other beauties.

By the way; one of my financial newsletters gave me heads up. Since the US Govt bought all toxic investmennts (and it will be an endless pit), the US Govt is the next one to declare bankruptcy. We don't know, what it means, but it will be worse than terrible, that for sure.
If some of you guys are old enough to remember Detroit riots in early 70's. This time it will be much worse, by few orders of magnitude.

Hi all,

EurUsd chart.

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The only possible connection I can see between the various "conspiracy" discourses (whether framed in terms of the Amero, a one-world currency, or whatever) and EW trading analysis is that an Elliottician may at some point have to ask whether a small group of central bankers have in some way managed to override the forces of mass sentiment which we typically see tracing out EW patterns.

I would normally be very reluctant to concede this possibility (since the tides of mass sentiment are so big in terms of volume and emanate from geographically disparate areas). However, especially since around mid-July, I've found the action in EURUSD and USDJPY to oftentimes be more difficult than normal to analyze in terms of EWP. I am more inclined to chalk that up to my own deficiencies as an Elliottician than to a "conspiracy" of insiders tanking the euro for nefarious purposes. However, I'm curious what others on this board think of the theoretical possibility of normal market forces being overridden by a few key bankers or policymakers, especially in the case of a grand supercycle top (if that is in fact what we have been witnessing the past few years). When one starts talking about superpowers declaring bankruptcy, major currencies going out of existence or having their value dropped to nil, etc., then our normal ways of applying EW analysis would seem to call for creative modification.

Incidentally - I would add that from what I can tell, a key trait of markets when we look at them at the scale of grand supercycles is that they get increasingly integrated over time. If that is a fair observation, then the merging of national currencies into regional currencies (and eventually, I suppose, a single world currency) would seem to in fact be the logical progression of things from an EW perspective. Admittedly, I am coming at this not from the perspective of a trader as much as that of a historian (I belong to the "socionomic school" of historiography as you might imagine).

I hope not to have gone too far afield of this forum's purpose but as the central banks get increasingly desperate, perhaps it's useful to consider the bigger picture of where the world currency system is going from an EW perspective, alongside our normal daily analysis of the major currency pairs.

EurChf chart

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For weeks now I have been saying that the €$ would go to 1.25. I was wrong. It will go much lower than that. Maybe even 1.16.

Intermediate target is 1.26, then a correction for a new move down.

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When I look at P&F charts, i see 118 as the next significant stop for EURUSD, on an intermediate scale. Bigger picture is even more dire. But I will reassess as the time goes by.

Brad, I just closed 3 positions at 2.18. Thanks man, I'll look for a new entry if it retraces.

I agree with you on most of the topics mentioned. Probably the most prevailing trend in the last decade is globalization. It is a catch-all phrase; it encompasses all aspects of life, within a fraction of a second I can find out weather in Bangkok, or price of wheat in Sudan; I can send instant message or email to a person on another continent; I can buy or order an antique vase from Japan and all that.
I am not talking about free trade, job outsourcing, escalating imports, global price for agricultural commodities, which is destroying local agriculture in all third world countries, I am not talking about chicken nuggets that I buy in Canda, but they come from carcasses in Vietnam and hundreds more side effects of globalization that are becoming hot potatoes from time to time.
Globalization is here to stay. we might like it or not, but we cannot change it.
Further, from historical perspective we are reaching a pinnacle of integration that was startred 1000 years ago. First you had villages, then city-states, then tribes, then nations, then confederations, now super-nations (like EU or NAU).
Common currency will come, Euro is just the beginning, Amero will be next, then Aseana.
Next question, whether central bankers are manipulating the markets. EW speaking, we are entering wave C now. Bottom of wave C is supposed to happen in 2012. Central banks might have limited influence, but they cannot change the wheel of history.

Further to a mesage from Marketwavez and Brad from yesterday, USDCHF is making a nice progress in the direction of 1.19
Right now, I can see a triangle developing that should break out very soon.

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Usd/Yen

Hmmmmmm............Problem Child ..............
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Hey Mike,

What you think about that triangle? You think it just broke out??

After reviewing USDJPY again I think we're going to see a rally up to 102.35 to close out the week. I'm looking for a hanging man candle to form on the weekly chart which will offer bears optimal entry around 102.35 on Friday right before the close.. I expect the next 2 Days will be very strong up days for this pair. If this hanging man candle that I'm looking for forms on the weekly chart there is going to be some really big down side thrusting in following weeks and 102.35 area is very good risk to reward area since risk can be contained to 103.40 so if we can load up on short positions around 102.35 we're sitting very pretty for a very big down side move in coming weeks.