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05-24-2012, 07:33 AM #45466
USDCHF is not same with EURUSD. There is a great needle from bottom last year. It is strong bullish sign. Long setup.
05-24-2012, 09:30 AM #45467
Let's Do the Lightning Round
It's that Time Again Folks. Since we don't have Real time SSI, let's do the
Only tell us if you are Long, Flat or Short the Euro or another currency pair
No chart is needed and if you have a spare moment, tell us your entry price, stop and Limit.
This is just a real fun and fast posting!
I am holding long EUR/JPY @99.79
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05-24-2012, 02:18 PM #45468
I took profit on my $cad long at 1.0283. I was hoping for higher but got a little scared as it started to drop from above 1.0290.
I am planning on a pullback to enter long again (if that happens) at channel support.
05-25-2012, 04:18 AM #45469
no lightning round, but slow and steady like a turtle, honey dripping slowly for usdchf
shorted 0.958, target open
05-25-2012, 04:22 AM #45470
I have this overall big view again. The current upward move should not be greater than 1.38 in order to meet the requirement of wave E. Next year we are going to have a big move downward to complete supercycle 4. It may look like this for year ahead but i am not so sure right now especially dealing with cycle wave. It might have a change. Must revise the wave formation.
Last edited by JoeyLee; 05-25-2012 at 06:11 AM.
05-25-2012, 08:47 AM #45471
long @ 27.56, SL 26.67
First target 30.00
Long term target: 50.00
Plan to hold long time and hoping to reload once or twice during this year.
PS: I expect Silver to come down again and retest the low before going up. So patience is required. The best moment to enter imo is still to come... But I couldn't resist and have a small position already.
Last edited by 10frank01; 05-25-2012 at 09:45 AM.
05-25-2012, 11:18 AM #45472
Most basic rule to enter if you suspect that is the last wave from last count, you should wait for Daily confirmation should be engulfing or evening star for EURUSD, then it pulls back in 4 hour. Wait for 4 hour to complete before you are going to enter. I used to have a lot of this type of loses when i did not wait. I thought that I was an expert. Ego...
I am also frustrated to post if it does not meet the expectation and get people lose in their trades. The wave formation is subjective and we should need a confirmation first. Possibility is high by using elliot wave and thus it is called high probability trade. This is a free sharing and I do not provide so much detail how to enter and whatsoever because I do not get paid. Do the homework first before trading. Some more I am not a scrapper and my rule only can be applied to long term trade. I think i will stop posting not to get people hurt. Sorry.
Last edited by JoeyLee; 05-25-2012 at 11:47 PM.
05-26-2012, 11:16 AM #45473
USD/CAD Daily chart May 26th 2012
My longer term short positions from 1.0400 were closed at .9900 .. I was hoping price would go lower, but it looks like the market wants to go higher.....
I'm out of it for now though... Just watching
The daily chart looks very stretched, I think we'll see a top there soon....
Last edited by brad_1199; 05-26-2012 at 11:47 AM.
05-26-2012, 02:35 PM #45474
GBP/CHF Bulls running the show..!
The chart speaks for itself.....
There could be another thousand pips to come for this pair on the up side yet.....
The market is currently under substantial bullish retracement pressure from an extended decline on the monthly chart...
The upper bollinger band on the monthly chart is located at 1.5984 and is a high probability longer term target for bulls...
I think there will be plenty of up side to come in this pair...
Last edited by brad_1199; 05-26-2012 at 02:43 PM.
05-27-2012, 10:39 AM #45475
Don't know if you posted this regarding my last post (Silver entry long). If so, here my answer:
Originally Posted by JoeyLee
I entered long now, because I think we will have some upwards movement to complete Wave D of a Triangle (see my previous post). Best entry is still to come in some weeks (about 12 weeks ahead I think). But right now it is a good entry I think before going short again and then only definitively long. We will see. Market will tell, every thing else is speculation...
05-27-2012, 09:31 PM #45476
Thanks but i want to remind you that each pair has their own strength and different characteristic. Difficult to use silver to justify the correlation movement for EURUSD. I should be hiding somewhere else like Mr. StanChiam. I feel good. Do not follow my style unless you know what you are counting. I feel good.
Originally Posted by 10frank01
Last edited by JoeyLee; 05-28-2012 at 01:01 AM.
05-28-2012, 08:02 AM #45477
If I am not mistaken Gold is going to complete cycle wave 4 at 2014. It is going to move in a range bound in the future. Good to take profit.
05-28-2012, 11:42 AM #45478
05-29-2012, 12:53 AM #45479
It looks like minor wave (1) finished at 1.0313 (just like the minimum Aerocom stated...nice). If that is correct then we should get a minor wave (2) low before the next 5 wave up to minor wave (3), correct? If so, I am thinking of a fib retracement to the 0.382 level of the 9801 - 10313 move and that would put us at 10118. Or another way to look at the minor wave (2) retrace is the fib extension of the 10054 - 9801 and project it and I get a fib ext 1.272 at 10122. It looks like a strong uptrend so I am not sure what would be a good fib extension it would come down to...just thinking out loud.
Does that sound right to you, aerocom, xtura? Jamie states that 10130/50 is strong support so I am thinking of buying at the 10150 level and taking my chances.
05-29-2012, 04:40 AM #45480
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