Hello Traders! Here are some Euro charts with wave counts on them. I can not vouch for the accuracy of the counts and I sometimes see "repainting" or count changes throughout the day. So use them as a guide. I will start posting these regularly if you guys are interested.
Any feedback to the usefulness of this analysis would be welcome or just give the post a link to let me know if it is helpful.
London session review and outlook June 20 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
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Last edited by Alejandro Zambrano; 06-20-2012 at 06:23 PM.
I be in and out quickly........ been busy and tied up and time is a luxury I'm not having..
anyways.. some quick glance on 8 hrs EU / GU and AUD.......
AUD been impressive..
Today where I was done 2 hrs into the EU session I decided let's play fool.......... and I did and I feel like a fool...... Gave away today's and yesterday gains.............
anyways, there is always 2moro..........
The blue represent the spots where the correction is over or should get over..
AUD ... well not sure but if can go higher to 10250 2moro has a room to run and would make the setup valid.........10125-30 strong supp and if broken prior to 10250 should expect a down fall on it..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
i wonder if today just set the limits for 100 point range to take us up to the weekend and then a gap up
I know what you mean, I think ! it's more usual to crawl up the stairs kind of slow then fall of a ledge but this trend jumps upstairs on Sunday then stumbles down again followed by a slow crawl for the rest of the week. It's defiantly an up trend but a very nervous up trend, I think this may last until the end of the month before the next big move but I am not complacent it could end at any time. The crash in May was very easy for bears a contrast with June, not easy for either bulls or bears I guess it suits scalpers. It's one thing filling some or most of a gap in the market but it feels like a cheat when it fills more than 100% and even more so if it happens twice in two weeks. With more Twist on the way I guess it's still buy the dips and I will but I must say it's not easy to feel confident trading a short term up trend when the overall trend is not just down but looks like a bottomless pit.
Reversals still tend to occur at the Bollinger bands (even with the spikers) and are usually concurrent with the CCI crossovers/crossunders.
The BB20 are narrowing; expect a bigger than normal move.
The CCI crossovers at the upside reversals are occurring at higher and higher levels.
The Slow Stocastics lows are also at higher and higher levels.
Odds favor the bigger move to be to the upside.
Keep in mind that there is typically a countermove prior to the real move. The countermove can be used to make a nice entry for the real move trade.
Last edited by rcopadilla; 06-20-2012 at 05:24 PM.
The 5min chart shows the prior reversals at the BB300 bands (corresponding to the 15min BB20 bands) and the corresponding crossovers/crossunders of the CCI and Slow Stochastics.
The current situation shows the CCI and SSD doing their crossovers but no tagging of the Bollinger bands yet. This could mean the the upcycle that is suppose to reverse to a down cycle is doing an extension which is more of a trending behavior.
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Originally Posted by root-minus 
