Thread: Elliott Wave Trading Discussion

Originally Posted by Big Mike

Since time immemorial, the first line of defence in every country during economic troubles is to devalue its currency.
Although Euro is a floating exchange rate, but the ECB can sell huge amounts of Euros / purchase huge amounts of USD or other foreign reserves.
It looks like they are doing just that.

If you remember Mexican crisis, Agentina peso crisis, Thailand bhat crisis, Brazil real crisis, russian ruble collapse in 1997, they all have been doing the same.
In many cases, the value of the currency AFTER the crisis was just a fraction, like 20%, of the value BEFORE.

Ah, I think you can count on the traders in the market (and French banks evidently too) to sell euros and the EU wouldn't have to sell the 1st euro since the trend has been down and the sentiment negative anyway.

EUR/CHF site at the lowest level EVER since the euro's creation. Here's a shot of a monthly chart that goes back to the January 1999 creation of the euro.

USD/CHF Daily

Originally Posted by LuvPippin

USD/CHF Daily

Luvpippin, great to have you joining the trading community.

Excellent chart. You might also want to add an arrow/lines as to how you think the price will play out into the future as well. Brad1199 does this and it seems to really help those new to FX get a sense of what you guys are saying.

Welcome aboard!

EURUSD is losing momentum.

The end of the 5 wave decline is near,

Plus, headlines like this one confirm that it will turnaround and start going up soon

Growth, rate worries drive euro near 4-year low
Euro near 4-year low on concerns $1T aid deal will slow economic growth in Europe

Originally Posted by Sean Hyman

EUR/CHF site at the lowest level EVER since the euro's creation. Here's a shot of a monthly chart that goes back to the January 1999 creation of the euro.

Although I do not trade EURCHF; but it is a VERY INTERESTING CHART

Originally Posted by Big Mike

Although I do not trade EURCHF; but it is a VERY INTERESTING CHART

Then here's an intraday look. Looks like the SNB (Swiss central bank) may be trying to "hold the line" at 1.40.

Their efforts usually fail, but eventually one of them may take. haha!

Eur/Usd
----------------------
Long-Term

-------------------------
CHart Update :


- - - - - - - - - - - - - - - - - - - - - - -

Sean ,


2 - 1/12 years ago

The Top Models and the Rappers ( Rap music artists ) were making TV commercials and videos about the Euro
====================================================================

they were making it hip so to speak to go shopping with Euro's here in the states
and it also appears that they also wanted to get paid in Euros rather than Us Dollars


i really enjoyed seeing those Ads

anyway ,

where are those top models now ? ......

What are the Top Models and the Rappers saying now ..... ?

where are the new TV commercials , Videos , and new Ad campaigns ?

==================================================

Originally Posted by marketwavez2

Sean ,


2 - 1/12 years ago

The Top Models and the Rappers ( Rap music artists ) were making TV commercials and videos about the Euro
====================================================================

they were making it hip so to speak to go shopping with Euro's here in the states
and it also appears that they also wanted to get paid in Euros rather than Us Dollars


i really enjoyed seeing those Ads

anyway ,

where are those top models now ? ......

What are the Top Models and the Rappers saying now ..... ?

where are the new TV commercials , Videos , and new Ad campaigns ?

==================================================

Yeah, I think they just got a "pay cut" if they're being paid in euros. Here was one of those stories back from latter 2007: Rappers join models in insisting on euros as greenbacks fall further out of fashion - Americas, World - The Independent

Originally Posted by marketwavez2

Sean ,


2 - 1/12 years ago

The Top Models and the Rappers ( Rap music artists ) were making TV commercials and videos about the Euro
====================================================================

they were making it hip so to speak to go shopping with Euro's here in the states
and it also appears that they also wanted to get paid in Euros rather than Us Dollars




i really enjoyed seeing those Ads

anyway ,

where are those top models now ? ......

What are the Top Models and the Rappers saying now ..... ?

where are the new TV commercials , Videos , and new Ad campaigns ?

==================================================

Will Euro become the most hated currency in the Universe in 2010?

Maybe, but we will need a HEALTHY bounce back first.

Originally Posted by Big Mike

Will Euro become the most hated currency in the Universe in 2010?

Maybe, but we will need a HEALTHY bounce back first.

Yep, market sentiment always goes to extremes...both ways.

Eur/Usd

----------------------
Monthly Bars
---------------------------
Long Term


---------------------------------
Updating

I'm very new to Elliott and can not figure out how to draw between May 13, 2010 at 2330 GMT and May 14, 2010 at 1545 GMT. This would be on the NZD/USD 15M chart.

Could anyone help me with a chart of this area? I'm not sure what to do when it is sideways like that.

Thank you for any help!

Originally Posted by brad_1199

Here is a look at the monthly chart of EUR/USD as well... Showing what I feel to be a higher probability path for EUR/USD in the years ahead... I will be on the watch for long entry by the 1.2651 support area any time price drops down to that level....

also this one is still valid Brad ?