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07-01-2009, 05:02 PM #24316
Heres an update to my AUDJPY long.
Confidence isn't huge but I'm going with the higher daily highs and lows and moving the stop to 70.45 locking in 45pips
07-01-2009, 05:44 PM #24317
This pair is in a nice pattern and looking for more gains, target 143 or so if it manages to reach the top of the channel, which seems feasible since we have a throw over wave 4.
07-01-2009, 05:45 PM #24318
Here is the 2 Chart Update
Originally Posted by marketwavez2
Last edited by marketwavez2; 07-01-2009 at 05:52 PM.
07-01-2009, 05:57 PM #24319
Carry traders, a final move up is coming.
07-01-2009, 06:55 PM #24320
Going long EURUSD at 1.4130
07-01-2009, 07:24 PM #24321
Going long EURCHF at 1.5200
07-01-2009, 07:34 PM #24322
Ilovepippin, if you wanna label this way here is my interpretation. I've never seen an expanding triangle in 2nd wave (but people draw if they love them). There is another posibility, the wave B (red) is a wave X or a wave 1. But I dont like it this way. personally, I tnink the 4th wave ended at a wave (A). I clearly see an impulse in a wave that you labeled 1, but who said that first part of wave B cannot be an impulse? Moreover, such a complex wave 4 is a good alternation with a simple wave 2. anyway, i'm not messing with the cable. there are better opportunities.
Originally Posted by Ilovepippin
07-01-2009, 07:35 PM #24323
mike, your entry is good (at the 50%), but i am still waiting for the retest which i think must occur... so you might have to wait a bit more for price to go in your direction.
..and justy`s entry 3 months ago is just about breakeven again.. respect for the patience!!!!!!!
Last edited by qsx; 07-01-2009 at 07:38 PM.
07-01-2009, 08:16 PM #24324
for me, it was not a fibonacci based entry, although fibonacci gives me more confidence.
Originally Posted by qsx
in this case, it was based on the MACD behaviour, since Elliott wave count is almost impossible to decipher in this correction.
i do not have as much patience, i like to keep my trades 1 day - 1 week, so we will know soon, if i was right.
07-01-2009, 10:35 PM #24325
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07-01-2009, 11:14 PM #24326
Scroll back a few pages to yesterdays posts and you will see many comments about this subject already.
Originally Posted by Bignatx
07-02-2009, 01:40 AM #24327
I was thinking a lot about gbpjpy situation. Daily chart shows a possibility of a finished upside corrective move, but I thought it just stopped in the middle of nowhere - far from fibo resistances, far from a sloping trend line .
And then I took a look at weekly (closing prices) chart and a picture started to clear up a bit - this could actually be a perfect turning point for gbpjpy. If you draw a parallel channel of what can be treated as a double top, a bottom line marks a resistance which has stopped the rally at 162.53 - this may be quite a good support for cmellon delta count
Yet - it still keeps moving up within a corrective channel - so its worth watching this baby I suppouse.
07-02-2009, 02:11 AM #24328
Hi Big Mike,
Originally Posted by Big Mike
I am looking for the chart CHF / EUR ... I would like to count with EW reversed direction
Do you have a tip, where I can find so what?
Thanks in advance
07-02-2009, 02:27 AM #24329
Hey Big Mike,
Originally Posted by Big Mike
Is that your opinion for today (02072009)?
I am sitting in Europe and I have sometimes a problem with the display of the time in the forum.....
Never, a top is has been formed since yesterday's high at 1.4150 almost exactly in the middle of the correction
/ Resistance at 1.4115/1.4200 area and came to a halt
(61.8% ige/76, 4% correction the decline from 1.4340 - 1.3750)
Could also be a mistake for me to be, but I do not believe in a strong EUR....
07-02-2009, 02:37 AM #24330
Originally Posted by Trading4cash
Sorry it took me so long to get back to you.
I do think that the USD/JPY has possibly completed a triangle on the daily charts. My preferred count has price rallying up to ~110 - 115 in the next few months or so in a wave (Y) to complete a W-X-Y.
On the shorter-term charts, one possible count for recent price action is that a leading diagonal is unfolding. Price has so far been a string of three-wave moves. I'd expect a decline into the 96.00 area in a fourth wave correction before moving higher again. There is also an inverse head and shoulders that supports a decline into 96.00 followed by a rally (neckline retest).
So all in all, I'd say that a long trade may be a good choice here.