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07-03-2010, 07:29 AM #17506
07-03-2010, 09:44 AM #17507
Buyers beware, more bearishness ahead.
Market closed below 88 for the second time. More downside risk for the coming weeks. Expected to test the lows @ 85.00/84.80 area.
07-03-2010, 12:09 PM #17508
07-03-2010, 04:30 PM #17509
07-03-2010, 04:31 PM #17510
This is what I see, ehich means that bulls and bears are both right, but this will end up bullish, then bearish, then a long Bullish... this should take 2 weeks... but this is what i see
07-03-2010, 04:54 PM #17511
Originally Posted by mihaia2002
Close to what I am also seeing, I have taken Wans second option and overlaid on mine. Top area somewhere near 137- 139 ish. All depends on where U/J and G/U go. If they run together then higher end. If they offset each other then lower end. We will have to wait and see. Lets hope the high end
07-03-2010, 06:29 PM #17512
I was about to work up a chart to post...
>>...But not neccessary...
The posts by WAN Tlord and Mihaia is the exact scenarios I see playing out....
I also think a key point to remember is that we are in a Major wave 5 down...
Wave 1 began in Mid July 07, wave 3 of 5 ended Jan 09....and wave 4 ended Aug 09
Wave 5's have a tendancy to range trade themselves lower, which means running to the top and bottoms of channels. The downtrend will remain in effect, in more or less what looks like sideways trading and then a ridiculoooous down move over the course of several weeks.
Based on possible wave counts we are building for the most profitable drop of a Major wave 3 of 5 on the weeklies. So bearish is DEFINATELY the way to go!.......BUTTTTT, there is a high probability that this will not occur until we get the proper cliff jump, if you will....
If this wave 5 proves to be as squirrely as the usual it will not happen UNTIL we get to at least 139ish. Give or take a 100 pips!
P.S. You folks are geniuses by the way (all of you) Great Forum!
P.S.S. Here's the 5 min chart for S&P futures...should make for interesting trading on SUN-MON, follow U/J for direction
Last edited by sirfx; 07-03-2010 at 07:11 PM.
07-04-2010, 07:27 PM #17513
Well folks, looks like its heading down. still holding my shorts.
07-05-2010, 12:28 AM #17514
Hovering below 88.00 for the third day!
Currently hovering below 88.00 for the third day. If 88.50 is intact, more downside expected. How low will this go? Nobody knows?
07-05-2010, 12:56 AM #17515
Originally Posted by wan0903
not much movement as always on monday.. hehe..
still sideline at the moment..although bearish is still favourable at the moment (to test 61.8 fibo in 1H TF)
Mr Cool.. If we see in H4 TF, yes.. bearish is still in our hand.. see the following chart.. 13378 is on 61.8 Fibo with current price still in between 50 and 61.8 fibo.. so let see which way it break, if continue lower, then FE 161.8 is at 127.87 level for wave 3 or wave 5..
anyway.. just be carefull.. dragon might want to retest 135-136 level before continue it journey... hehe..
happy trading to all...
07-05-2010, 03:34 AM #17516
Today is a USA holiday (Independence Day). Markets should be thin. Risk is still to the downside to test 85.00/84.80. This week should be interesting.
07-05-2010, 03:58 AM #17517
I suppose that depends on your perspective. The largest trading volume is during the UK session, so only the afternoon (from 1pm) is going to be affected in that respect.
Originally Posted by Loudness
Thanks for the message anyway.
Considering how world markets affect each other, it makes me wonder just how independent any country really is from another, that is after taking out who rules it.
Last edited by Lee Saunders; 07-05-2010 at 04:01 AM.
Education is for life, so is FOREX. Never stop learning!
07-05-2010, 04:44 AM #17518
wheres the support come on BULLS
07-05-2010, 05:13 AM #17519
I am new here and I just noticed that the USDJPY was Break 87.82 should be indicate bearish now?
07-05-2010, 05:17 AM #17520
Hello J.Giordano, yes the pair is bearish now. Read my previous posts above. Welcome and good luck!
Originally Posted by J.Giordano