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05-09-2012, 03:56 PM #45316
Perhaps it could be a flat too: your first 3-wave as A, then the range as wave B with quite a familiar wave C of B kind of final thrust and the whole C of B is strong (your i circled), then now we are onto a 5-wave of the flat. Just guessing.
Originally Posted by 10frank01
05-09-2012, 05:14 PM #45317
Last edited by 10frank01; 05-09-2012 at 05:21 PM.
05-09-2012, 08:12 PM #45318
Here is what I am watching in the Gbp$ as stated earlier today. Notice how the move has adhered to the channel. If it does not break out the top, it will work its way down over the next week toward 6000.
If it breaks out the top, look for a retest of the 6200 to 6250 area.
05-10-2012, 02:42 AM #45319
if you analyze eurusd from Elliott view. I think it is in correction phase, can expect impulsive have in 1 or 2 days. what you say guys?
05-10-2012, 03:39 AM #45320
Clear wave on current EU chart
This what I see from my chart
05-10-2012, 05:41 AM #45321
05-10-2012, 08:04 AM #45322
Elliot Wave 10-05-2012
Current Not trend. Current correction in 1 hour and 30 min time frame.
05-10-2012, 08:49 AM #45323
Well, price action tells a different story. Above 1.6196 and we have most likely the following count:
Originally Posted by fazi
Early ITD1 bottom in and a final push higher to, either inverted (1) top (sooner) , or regular ITD2 (later) due arround the 21st. The newmoon is on 20th (cable`s beloved topping time) and options expire on the 19th - that would suggest ITD2 as a final top.
05-10-2012, 09:50 PM #45324
leading diagonal and min target of 1.02
let the cash register ring
ps: was a pip away from being stopped, seems like this is wave 4 and not leading diagonal, stop adjusted lower target still 1.02
Last edited by stanchiam; 05-11-2012 at 02:36 AM.
05-10-2012, 11:43 PM #45325
Loonie. Think lower in a complex correction.
05-11-2012, 12:01 AM #45326
Originally Posted by fazi
Looks like we are headed for that low. I still think we see 6200 - 6226. Although, I did see your post on options. Thanks for the info.
05-11-2012, 01:57 AM #45327
Wave count on Loonie (Short Opportunity)
A similar thread was post on the commodity currency. I post the similar topic, hopes to get more pointers from the seniors here.
I have done a wave count on the Loonie pairs and discover that there might be a reversal underway. It is approaching double top and there is a divergence between the price and MACD. Going to short the currency at 1.0050 and target profit at 0.9977. Hopefully the economic data later today will support the reversal.
Attached is the hourly chart of the loonie pairs for your reference.
05-11-2012, 04:31 AM #45328
I'm definitely not a senior but I think you have a plan. However, Look at aerocoms count, where you see a short term trade I see a hedge or a mid/long term long.
Originally Posted by Trendie77
05-11-2012, 05:40 AM #45329
CAD FUTURES SENTIMENT
as of 1st of MAY 2012 CAD bull speculators (USD/CAD shorts) Reached an extreme on a ratio basis (Above 80% bulls) and an extreme in net positioning. Commercials reached an extreme on a ratio basis (bellow 20% bulls) and an extreme in net positioning similar to that of the 2011 peak!
There is little chance you'll be wrong longing the USDCAD with a stop bellow the april low. good luck
05-11-2012, 09:36 AM #45330
He will probably be good on this one. Price may carry to 9968. But, the rest of your statement I agree with. Since this is an irregular correction, I expect one more corrective move before wave 3 or C gets under way. At this point I think the next move should be a 3.
Originally Posted by xtura
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