and if price is to reach 1.19/20 area, where will you think price will retrace before resuming its downtrend sub 1.20? I have a possible retracement area of 1.26/27
thx
Price is in a diagonal. The guide line is that "price will retrace to a point near the terminus of wave 2 of the diagonal." This should be a rule as it is true most of the time. Based on this guideline, wave (B) should terminate in the area of 1.3283 to 1.3484.
Mine is the same as yours. Possibly high 1.2360 to 1.2424 depending on drop. The 38.2 should be in this range. I use the 5th wave principle to estimate the bottom which is 1.2003. But, a likely ratio is .73+. This would probably equate to Gann 75 and would mean a price in the mid 1.19 to high 1.18 area.
Good Luck.
I quoted these prices but, if the pair is in a diagonal, wave 1 and wave 4 must overlap. The overlap does not occur until price exceeds 1.2623.
Been stating $1.2800 is possible for a little bit now -- even as E/U declines haven't abandoned that view. Maybe it's here now with an expanded flat just completing a "B" wave down. Stopped exactly to the pip at 127%. Also notice RSI divergence.
Been stating $1.2800 is possible for a little bit now -- even as E/U declines haven't abandoned that view. Maybe it's here now with an expanded flat just completing a "B" wave down. Stopped exactly to the pip at 127%. Also notice RSI divergence.
Hmm wonder what does that mean for silver?... I need help getting rid of pslv silver from my registered account
Eric sprott diluted it thursday and premium fell to 3% ... used to be ~30% ... I'll never touch it again, even for a registered account with limited choices
Your chart from a TD trading platform I think?
You never write what curreny pair you are talking about, so we can just gess ...
it's gold mate. it says gold on the top left corner
Originally Posted by Luxuriant
The black background makes it impossible to see even price. So its not possible to make a guess.
this is a large graph so the forum shrinks it while displaying. however, if you open the image link in a new window then the original upload appears and it's very, very, very large and visible
Last edited by skinnypuppy; 07-14-2012 at 04:02 AM.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Originally Posted by stanchiam
Long term trader mah.. I will harvest it next year.
yuppee..See you
Posting Permissions 
Reply With Quote
What pair
