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

Originally Posted by MOZI32

Attachment 59063

i see a possible up after a falling wedge and a possible head and shoulder

your opinions are welcome on my chart

good luck guys

Mozi,
You have a set of eagle eyes on you. Too bad I'm checking in late.
Hey to everyone, just catching up on the post.

A-Yooooooooo Bro

Originally Posted by nopainnogain

the only way i would see things different from your triangle @ this point would be a nice clean EW 5 waves down with no rules broken. for me this discussion is over

Thomas,

Consider this,

If it was an Impulse, then it would correct in a number of ways with a high probability that it would at least include a 5-3-5 Zig-Zag.

If it is a Triangle, and Leg 1 is complete with a "5", then it shall decline in a Zig-Zag which shall also be 5-3-5.

Can you see then the similarity?

Once again, Wave 4's are those that reflect the greatest indecision within a market.

So, how fitting that the two possibilities offer so many parallel's in their make-up

Best,

Colly
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First test of supports at 1.2330 area if it makes it though to 1.2326 then a sharp drop to 1.2290

My fear it will get cought in an upward channel in this support area.

Originally Posted by MoneyInc.

First test of supports at 1.2330 area if it makes it though to 1.2326 then a sharp drop to 1.2290

My fear it will get cought in an upward channel in this support area.

Looks like its testing that channel now.

Originally Posted by Colly

Thomas,

Consider this,

If it was an Impulse, then it would correct in a number of ways with a high probability that it would at least include a 5-3-5 Zig-Zag.

If it is a Triangle, and Leg 1 is complete with a "5", then it shall decline in a Zig-Zag which shall also be 5-3-5.

Can you see then the similarity?

Once again, Wave 4's are those that reflect the greatest indecision within a market.

So, how fitting that the two possibilities offer so many parallel's in their make-up

Best,

Colly
----

you are so correct on this call & the difficulty trying trade it i been very fortunate trading this correction. traded with small lots & used my FIBS. for correction as outlined in page. 139 & a lot of insight from you

Originally Posted by MoneyInc.

First test of supports at 1.2330 area if it makes it though to 1.2326 then a sharp drop to 1.2290

My fear it will get cought in an upward channel in this support area.

It is most likely to zig-zag down now and in the worst scenario a middle leg up to the top before leg 3 down.

Two ways to trade it, one is to keep the SL above the top, and the other is to trade legs 1 then 3, or both.

Originally Posted by nopainnogain

you are so correct on this call & the difficulty trying trade it i been very fortunate trading this correction. traded with small lots & used my FIBS. for correction as outlined in page. 139 & a lot of insight from you

Good for you Thomas.

Blow some of that luck my way because its been a night-mare for me but thats what happens when I get impatient and "top-pick" isn't it !!

Originally Posted by MoneyInc.

First test of supports at 1.2330 area if it makes it though to 1.2326 then a sharp drop to 1.2290

My fear it will get cought in an upward channel in this support area.

Nathaniel,

For what its worth, this is my trade set up.

Note the 45 degree lines. You should try them out y'know

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Attaching 5 Min

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Originally Posted by Colly

Good for you Thomas.

Blow some of that luck my way because its been a night-mare for me but thats what happens when I get impatient and "top-pick" isn't it !!

every penny you earn in this bussiness you worked hard for.

maybe this or not

Originally Posted by stanchiam

I think it will shoot up.
Attached is my 30min chart
Good luck!
Cheers.

ps: do not feel like posting due to one "expert" in here

Stan, your 30min count is a rocket ship(ultra bullish) setup. The series of 1-2 would send price to the moon.

Originally Posted by AyoBro

I know, but the 23.6 is guaranteed if the count is correct, also. That would be a nice level to take profit, if I were long. I'm considering this leg up wA, possibly failing at 23.6 of three different tops. Believe me, I love knowing the different possibilities for price action. It's priceless.

A-Yo Bro

I know you was looking for 1.3 for your initial target but price has hit both 23.6 targets. Beautiful spot to take some bread off the table?

A-Yo Bro

Originally Posted by AyoBro

Stan, your 30min count is a rocket ship(ultra bullish) setup. The series of 1-2 would send price to the moon.

I know was looking for 1.3 for your initial target but price has hit both 23.6 targets. Beautiful spot to take some bread off the table?

A-Yo Bro

been sitting here all day idling now i got to shovel more coal i dont think ill put to much in the furnace.because well be in netural most of the time.

Originally Posted by nopainnogain

been sitting here all day idling now i got to shovel more coal i dont think ill put to much in the furnace.because well be in netural most of the time.

its got the appearance i like just starting to sliver down.

Originally Posted by Colly

Nathaniel,

For what its worth, this is my trade set up.

Note the 45 degree lines. You should try them out y'know

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Attaching 5 Min

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I have support and resistance included. Every time I get a new peak I move my 45 degree line (not Trendlines) a 45 degree line i adjust my supports and resistance.

Originally Posted by MoneyInc.

I have support and resistance included. Every time I get a new peak I move my 45 degree line (not Trendlines) a 45 degree line i adjust my supports and resistance.

so you keep moving green line correct