Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

fib.ext. & EW are natural accurance

Originally Posted by AyoBro

The expanding triangle you suggested to Jeremy might be in play, possible wD=new low? FLFOREX chart is the closes count I have. The recent top(c/3 of wC) is 161.8 of the prior rise from this morning's bottom.

A-Yo Bro

Yes it may be.

However, that would mean that only the a, b and c are in and that we won't be able to confirm for a while.

If it is complete then I don't quite know how a parallel triangle features since both the top and the bottom lines are descending, but maybe it does count.

For me, I closed a quick 40 pips on the Eur/Usd and about the same on Eur/Gbp and shall await the next move before establishing probably quite heavy short positions.

We'll see won't we

Colly
----

Originally Posted by nopainnogain

fib.ext. & EW are natural accurance

Does an ew have a retracement? Ok does a trend Have a rectracment?

Originally Posted by MoneyInc.

just pay more attention to them they can help you alot more,alot more than fib extention for ews. That s all.

money, i happen to use both reteacemant levels as well as extentions in my trading, and look for confluence levels between the 2,extention levels, and the tool itself is taken from 3 points to measure not just 2, and when displaying a chart, too much on the chart, confuses most people, so i try and keep it simple for everyone, and my style of trading,and the levels i give, are strictly what i am following and how i derived at those figures,it is just what im seeing,and as you know anything can happen in a market, and nothing is writen in stone........

Eur/Usd

Here is the 1 Minute Chart.

Appears that we have 5 waves down and now await 3 up. Then we have 5 more down and I think that should this be the commencement of Wave 5 then that shall form the a-b-c A.

I have enclosed the Fibo. values for a further short opportunity.

Colly
----

i am probably not the best person to answer . but trendlines are part of the recipe.without trendlines fib. & othere tools EW would not exist. example without blood in our system we would not exist..

why cant the markets just be wave 3 ?life would be simple.

It can be called by different names but its the same thing
ie a correction, a pullback you name it

It all happens within the trend or range even a spike in price has some form of retracement.

I think its a case of using other indicators to complement what you are working with.

I could be wrong of couse but thats what i think

Originally Posted by MoneyInc.

Does an ew have a retracement? Ok does a trend Have a rectracment?

Originally Posted by AyoBro

The expanding triangle you suggested to Jeremy might be in play, possible wD=new low? FLFOREX chart is the closes count I have. The recent top(c/3 of wC) is 161.8 of the prior rise from this morning's bottom.

A-Yo Bro

Hi again A-Yo Bro,

The more I look at this situation with Eur/Usd the more inclined I am to believe that Wave 4 can't be over yet.

My 3 Hr RSI's just havn't got the amount of space to complete a further wave unless its a fairly short one.

At this time I am still on the fence but my slight bias is towards another period of consolidation before this can break into W5.

you are the Master with patience.

Originally Posted by FLFOREX

money, i happen to use both reteacemant levels as well as extentions in my trading, and look for confluence levels between the 2,extention levels, and the tool itself is taken from 3 points to measure not just 2, and when displaying a chart, too much on the chart, confuses most people, so i try and keep it simple for everyone, and my style of trading,and the levels i give, are strictly what i am following and how i derived at those figures,it is just what im seeing,and as you know anything can happen in a market, and nothing is writen in stone........

No Time For egos just trying to help. Im sure you will figure it out. And to answer my own question Yes trends do, they have them in Two places.

Originally Posted by nopainnogain

you are the Master with patience.

Thank you NPNG

That is a most welcomed remark.

Strangely enough as I closed my initial short positions before re-basing them and reading the mania of posts pertaining to the matter the words "Fools rush in where angels fear to tread" crossed my mind.

I always think its quite cute to score twice with one kick however

Thank you again.

Colly
-----

you have much wisdom & am sure the battle wounds to go along.

"Risk" really coming off here again, rallies just being crushed these days, slow climb then swift decline.

Once again Madaam B has called it. 50 Pips in about two Hours. A new Landmark in My Margin account. I'm considering moving up to Two Units at a time.
In any case, while happy about the outcome, I'm once again without a position and torn about what to do. Madaam B, Que pasa?