I notice MR. S not post GBP view. I watched market tonight. GBP have no follow through with USD weakness. Hmm. Short GBP long term. What could this mean for USD?
EDIT: Oops OK I see GBP view now. We shall see if E is in.
the question should be... Do you think this is impossible? ... lol
More I look at DJIA, it looks very similar to this type of pattern same as what in the EW book predicted. I forgot where i saw this type of pattern. I suspect C is the point where QE3 start. I still not yet compile the data from 1900 so I could not be so confirm.
I could not count that down leg at all yesterday - cursing I was! So think it was a 'b' wave.
With today's action, I reckon we just seeing the end of the 'c' wave in an expanding flat. 5th wave down still to come.
Proof will be in the reaction to the 85.4% fibonacci fan lines drawn in from the 1.2041 and 1.2052 lows to the recent high and wave form of course.
Clivewater;
Maybe this will help. It is a 15 min chart and unusual for me. However, I think it is the clearest count but I followed it on the hourly chart. Now, one thing to remember this move so far, is shorter than wave 1. Therefore, wave 3 or C is still underway. In this case, if we assume wave equality or 1, then price should decline in wave 5 to at least 1.1862. If that is the ultimate target before the major correction, this correction should terminate in the ideal area as denoted on a chart I posted earlier this week. I am looking at 1.2757 which coincides with a target Stan posted earlier.
Maybe this will help. It is a 15 min chart and unusual for me. However, I think it is the clearest count but I followed it on the hourly chart. Now, one thing to remember this move so far, is shorter than wave 1. Therefore, wave 3 or C is still underway. In this case, if we assume wave equality or 1, then price should decline in wave 5 to at least 1.1862. If that is the ultimate target before the major correction, this correction should terminate in the ideal area as denoted on a chart I posted earlier this week. I am looking at 1.2757 which coincides with a target Stan posted earlier.
Hope this helps.
It helps alot in as much as I do not feel my count was too far out, if you allow a little slippage (!). I have got one more down to go before the bigger correction but could not quite make the counts you have. Thanks again.
Good Luck.
It helps alot in as much as I do not feel my count was too far out, if you allow a little slippage (!). I have got one more down to go before the bigger correction but could not quite make the counts you have. Thanks again.
Good Luck.[/QUOTE]
It helps alot in as much as I do not feel my count was too far out, if you allow a little slippage (!). I have got one more down to go before the bigger correction but could not quite make the counts you have. Thanks again.
Good Luck.
[/QUOTE]
Yes. In reviewing your chart, you may have gotten off on the extended 3 of 3 of 5. But, in this move all the 3's were extended. Then the irregular wave 4 had me at first trying to count 5 as complete especially with the 5 up. What kept me on track was my confidence in my original count and the time calculations that I had made. Time simply was not up.
aerocom, so you're saying the eurusd still has more downside (1.19ish?) before the correction up to 1.27ish?
re cable, I am still long waiting for the breakout north to end at 1.5900, dont now how far will it retrace. I could even be stopped out at 1.5380 and price could still shoot up after..
aerocom, so you're saying the eurusd still has more downside (1.19ish?) before the correction up to 1.27ish?
re cable, I am still long waiting for the breakout north to end at 1.5900, dont now how far will it retrace. I could even be stopped out at 1.5380 and price could still shoot up after..
Yes! I think there is likely one more down move to equate to the completion ow wave d in the Gbp$ which I think will get to the 1.4875 to 1.4725 area before the reversal in wave E.
I am not trading the Gbp$ but, I too am looking for a move to the 1.5900 area.
I don't want to get to weird on you but, Saturn has a mysterious effect on the Gbp$ and I haven't figured it out. If it is going to move up, it should start this evening no later than tomorrow and continue into the new moon on Wed. Then look for a reversal between the 1st and 3rd.
aerocom, what do you mean 'look for a reversal between the 1st and the 3rd'? If it starts going up, then I do think it will keep on going to 1.5900. Do you mean a small retrace, or a big reversal that will coincide with eurusd at 1.19ish?
also, where do you think wave E will take cable, if indeed it tanks to 1.48ish?
thx
If this QE3 is launched now then the dollar index is going to drop to 30.. So US dollar is totally becomes worthless. This is not possible. Dollar is climbing up in a stage now. It must reach 1XX in order to trigger QE3.
If this QE3 is launched now then the dollar index is going to drop to 30.. So US dollar is totally becomes worthless. This is not possible. Dollar is climbing up in a stage now. It must reach 1XX in order to trigger QE3.
Sorry, Not QE3. Wrong typing. It is QE2.1. I do not know this QE2.1. I still doubt on it when look at the pattern. It moved market last November 2010 but it would not help much in long term. Does it make any sense to the wave formation ?
Sorry, Not QE3. Wrong typing. It is QE2.1. I do not know this QE2.1. I still doubt on it when look at the pattern. It moved market last November 2010 but it would not help much in long term. Does it make any sense to the wave formation ?
u know what QE did to stock market, the final result is stock market goes up
just like injecting a dying patient with drug, life increased
without it, flatline
if u want to talk fundi, with recent data, it show more needs to be done by central banks
in this case, bad data is welcoming as it keeps the expectation of easing to come and thus mr market expect market to rally
summary: is data so bad that the stock market will collapse? or is data bad enough for central banks to take more action?
or data is not bad, central bank can just shake their leg and ignore it?
you decide.
for me, i heard ben say more actions will be taken if blah blah blah blah.......
meaning he will not sit there and smoke cigar and let the market deteriorate. Want to join 90% of the crowd for the stock market crash, u r welcome
btw, please do not listen to what i said, in fact please ignore it
like u said, short euro, gbp, etc etc and go for holiday
just note the rest of the world is waiting for the crash
as human being, one should join the crowd
ps: i am eagerly waiting for the crash u all been anticipating
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Originally Posted by SkiBunny 
It is QE2.1. I do not know this QE2.1. I still doubt on it when look at the pattern. It moved market last November 2010 but it would not help much in long term. Does it make any sense to the wave formation ? 
