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09-05-2008, 09:29 AM
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Morning CHF update:
I'm still looking for a top here. I have it labeled that we may be getting into a small iii of 3. 1.1035 and then 1.0970 are two of the key areas that are being focused in on that need to be broken in order to call the top for sure. So far these areas are holding. The triple top on the chart looks ominous. So unless the 1.1180 is exceeded I'll stick with the move to lower figures. At the moment we have held the .618 ret of the move from 1.10-1.1180 and are bouncing.
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09-05-2008, 09:41 AM
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Join Date: Jul 2007
Posts: 1,592
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Quote:
Originally Posted by diver
Morning CHF update:
I'm still looking for a top here. I have it labeled that we may be getting into a small iii of 3. 1.1035 and then 1.0970 are two of the key areas that are being focused in on that need to be broken in order to call the top for sure. So far these areas are holding. The triple top on the chart looks ominous. So unless the 1.1180 is exceeded I'll stick with the move to lower figures. At the moment we have held the .618 ret of the move from 1.10-1.1180 and are bouncing.
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According to the diagonal count, 1.1080 is confirmation of a top.
http://www.learncurrencytrading.com/...3-post220.html |
09-05-2008, 09:43 AM
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Quote:
Originally Posted by italm31
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Well that's good news!  |
09-05-2008, 09:45 AM
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Quote:
Originally Posted by diver
Well that's good news! |
Oh, did I forget to mention that I liked your triangle count! |
09-05-2008, 09:55 AM
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Join Date: Jun 2008
Posts: 31
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Quote:
Originally Posted by diver
Morning CHF update:
I'm still looking for a top here. I have it labeled that we may be getting into a small iii of 3. 1.1035 and then 1.0970 are two of the key areas that are being focused in on that need to be broken in order to call the top for sure. So far these areas are holding. The triple top on the chart looks ominous. So unless the 1.1180 is exceeded I'll stick with the move to lower figures. At the moment we have held the .618 ret of the move from 1.10-1.1180 and are bouncing.
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Hi Diver, I love your charts but sometimes I have problems reading them. Can you change the colors so I can read them in a better way? Thanks in advance. |
09-05-2008, 10:55 AM
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Join Date: Jan 2008
Posts: 1,219
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Quote:
Originally Posted by osalasf
Hi Diver, I love your charts but sometimes I have problems reading them. Can you change the colors so I can read them in a better way? Thanks in advance.
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Thank you very much for the compliment. Since I try to honor all requests I'll be happy to post the color combination of your choosing. Please select one from the choices listed below:
1. Dark (Black)
2. Light (White)
3. Gobi Beige
4. Midnight Blue
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09-05-2008, 11:08 AM
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That's a service LOL , let's try dark? Thanks a lot.
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09-05-2008, 11:10 AM
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Quote:
Originally Posted by diver
Thank you very much for the compliment. Since I try to honor all requests I'll be happy to post the color combination of your choosing. Please select one from the choices listed below:
1. Dark (Black)
2. Light (White)
3. Gobi Beige
4. Midnight Blue
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jajajaj, that's a service, let's try dark? Thanks in advance. |
09-05-2008, 11:27 AM
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Join Date: Oct 2005
Posts: 1,606
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Quote:
Originally Posted by Big Mike
Hi guys
EUR USD is not done yet, IMHO.
Take a look at my chart.
We will need to complete wave 3 yet, followed by wave 4 (up to around 1.43), followed by wave 5 down to approximately 1.42
Sorry, guys, my fingers are itching to pull the trigger, but I cannot do that because I still see some weakness in the pair.
Once my scenario plays out the way I just outlined, it will be time to go long again. And it will be a DOOZIE. We should expect more than 2000 pips. So, for another day , or so, I will need to stay patient.
Mike
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Further to my comment of yesterday, it looks like EURUSD is "done" and the tide has turned. I am going long big time, well, on the second thought, not too big. Maybe i will wet my toes first. But, it looks like the pattern is complete, the correction from 1.60 is finished and today is a significant turning point. localaized extremum of the function, so to speak.
You can see my chart below, this time on a short time frame, 5 minutes.
But, on the 1hr chart the pattern looks the same, just less detailed.
(I know, using 5 min time frame can be deceiving at times)
Mike |
09-05-2008, 11:39 AM
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Posts: 1,219
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New color on the CHF as per request.
Prices look like they are churning in a very limited range all morning since the NFP report came out. Retraced a little over .382 of the decline off the highs. The uptrend line from 1.10-1.1180 that was broken on the way down has also held the first test of any rally. Maybe it'll heat up before too long. Which way will the shoe drop?
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09-05-2008, 11:40 AM
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mike;
i was thinking about the very same thing, but wave1 overlapps with 4 (ok, it doesnt close on hourly basis, but does it matter?)
so, where the answer? with that yearly trednline penetrated and no major support at current levels i dont really believe this should be the end..
and you also believe in a wave up to over 1,6? how do you count the move down as a correction?
Last edited by qsx; 09-05-2008 at 12:53 PM..
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09-05-2008, 11:50 AM
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Join Date: Jun 2008
Posts: 31
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Quote:
Originally Posted by diver
New color on the CHF as per request.
Prices look like they are churning in a very limited range all morning since the NFP report came out. Retraced a little over .382 of the decline off the highs. The uptrend line from 1.10-1.1180 that was broken on the way down has also held the first test of any rally. Maybe it'll heat up before too long. Which way will the shoe drop?
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Thanks a lot Diver, it's much better this way. |
09-05-2008, 12:26 PM
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Join Date: Jan 2008
Posts: 1,145
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USD.CHF
The alternate count has become the primary...
The diagonal is indeed seems taking place.
Good eye has the one who first noticed that (italm?)
The brake below 1,10 enough to get short.
Hopefully it's a final diagonal, not the leading |
09-05-2008, 12:38 PM
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Quote:
Originally Posted by ravno
The alternate count has become the primary...
The diagonal is indeed seems taking place.
Good eye has the one who first noticed that (italm?)
The brake below 1,10 enough to get short.
Hopefully it's a final diagonal, not the leading |
I think you are correct here. This looks like the best count right now. |
09-05-2008, 12:48 PM
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Join Date: Mar 2008
Posts: 1,459
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Quote:
Originally Posted by Big Mike
Further to my comment of yesterday, it looks like EURUSD is "done" and the tide has turned. I am going long big time, well, on the second thought, not too big. Maybe i will wet my toes first. But, it looks like the pattern is complete, the correction from 1.60 is finished and today is a significant turning point. localaized extremum of the function, so to speak.
You can see my chart below, this time on a short time frame, 5 minutes.
But, on the 1hr chart the pattern looks the same, just less detailed.
(I know, using 5 min time frame can be deceiving at times)
Mike
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Hi Mike,
If the correction turns out flat and we get a close below 4350, then what is preventing us from another 5 waves down? I don't see fundamentals supporting a run to a new high, yet. |
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