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01-09-2008, 08:20 AM
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The dollar is in its early stages of what I believe is wave c on its way to roughly 1.4475 and what italm believes is a much larger dollar rally. It very well could be. As I mentioned yesterday, the important thing right now is that both counts are pointing to USD strength so make sure you are aligned that way now. As the pattern progresses, we'll have a better idea regarding bearish potential.
I am expecting a broad based dollar rally for at least the rest of the week and probably into next week at the least...but again greater bearish potential does exist. By the way, the EURUSD is bearish as long as price is below 1.4824.
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01-09-2008, 08:26 AM
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I wanted to share with everyone an interesting measure of sentiment that I will look at from time to time. Google has a site called google.com/trends...and it measures news reference volume. If you type in weak dollar at google trends, a chart is generated that shows how many stories about the weak dollar appear over time. Notice that the 2 spikes on this chart were in November 2004 and November 2007....of course, 2005 saw a big dollar rally.
As elliotticians, we all know that all markets are simply an oscillation between optimism and pessimism....when optimism is too high, the market tops and when pessimism is too high, the market bottoms. Of course, these extremes can last for a long time but that is why we study the patterns. Anyway, I thought that you guys would find this interesting.
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01-09-2008, 08:42 AM
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Join Date: Aug 2007
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Quote:
Originally Posted by Jamie Saettele
I wanted to share with everyone an interesting measure of sentiment that I will look at from time to time. Google has a site called google.com/trends...and it measures news reference volume. If you type in weak dollar at google trends, a chart is generated that shows how many stories about the weak dollar appear over time. Notice that the 2 spikes on this chart were in November 2004 and November 2007....of course, 2005 saw a big dollar rally.
As elliotticians, we all know that all markets are simply an oscillation between optimism and pessimism....when optimism is too high, the market tops and when pessimism is too high, the market bottoms. Of course, these extremes can last for a long time but that is why we study the patterns. Anyway, I thought that you guys would find this interesting.
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Certainly is an interesting link, thanks a lot. 
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01-09-2008, 08:47 AM
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Gold and Silver took a nasty blow
Gold went lower nicely from top of impulse channel - in three waves for now, but still almost 20$ from the high...
Will be interesting to see what stocks do - lately gold and silver have been rallying heavily and stocks have been tumbling at the same time... it used to be a bit more of "same markets" a few months ago - if one went up, the other did. Noticed that a few of the correlations typical in the markets for the last year have disapeared in the new not so bright conditions.....
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01-09-2008, 08:48 AM
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Join Date: May 2004
Posts: 221
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Quote:
Originally Posted by Jamie Saettele
The dollar is in its early stages of what I believe is wave c on its way to roughly 1.4475 and what italm believes is a much larger dollar rally. It very well could be. As I mentioned yesterday, the important thing right now is that both counts are pointing to USD strength so make sure you are aligned that way now. As the pattern progresses, we'll have a better idea regarding bearish potential.
I am expecting a broad based dollar rally for at least the rest of the week and probably into next week at the least...but again greater bearish potential does exist. By the way, the EURUSD is bearish as long as price is below 1.4824.
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Hi Jamie
may i know your opinion about dollar for new year,is there any changes in your idea about top of euro around 1.5600 or not..thanks
blueman
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01-09-2008, 09:03 AM
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Hello Blueman ,
Here is a Long-term look at the Us Dollar ......
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Last edited by marketwavez2; 01-09-2008 at 09:05 AM..
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01-09-2008, 09:14 AM
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Quote:
Originally Posted by marketwavez2
Hello Blueman ,
Here is a Long-term look at the Us Dollar ......
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Hi Market,thanks, so you belive euro should break 1.4309 to build wave 4
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01-09-2008, 09:26 AM
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Quote:
Originally Posted by blueman
Hi Market,thanks, so you belive euro should break 1.4309 to build wave 4
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Eur/Usd
Already posted the projections for the Eur/Usd ......
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Original Post :
Scroll down to Post #2582
http://www.learncurrencytrading.com/...13880&page=173
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01-09-2008, 09:30 AM
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Quote:
Originally Posted by marketwavez2
Eur/Usd
Already posted the projections for the Eur/Usd ......
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Original Post :
Scroll down to Post #2582
http://www.learncurrencytrading.com/...13880&page=173
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okay,thanks Market
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01-09-2008, 09:39 AM
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Hi Jamie,Italm,everyone,Happy New Year.I took a long vacation and deliberately stayed away from charts.Jamie,interesting,your idea on USD strenght,but how do you see it playing out on the Usd/Cad.I am about going short on it right now.
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01-09-2008, 09:48 AM
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Quote:
Originally Posted by blueman
Hi Jamie
may i know your opinion about dollar for new year,is there any changes in your idea about top of euro around 1.5600 or not..thanks
blueman
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As of now, I still think the EURUSD will break through 1.50 but not before the correction to 1.4475
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01-09-2008, 09:51 AM
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Quote:
Originally Posted by Dr.Forex
Hi Jamie,Italm,everyone,Happy New Year.I took a long vacation and deliberately stayed away from charts.Jamie,interesting,your idea on USD strenght,but how do you see it playing out on the Usd/Cad.I am about going short on it right now.
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USDCAD is not something that I am very comfortable with right now. I am bearish as long as price is below 1.0248 but the rally from .9755 is unclear to me. I can easily envision a scenario where the USDCAD exceeds 1.0248 because all of the other USD pairs look dollar bearish for at least the next week.
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01-09-2008, 10:10 AM
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Quote:
Originally Posted by brad_1199
Come on !!! Dive, Dive, Dive !!!
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Hi Brad,could u send your details of wave 2 as correction.thanks
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01-09-2008, 10:20 AM
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Quote:
Originally Posted by Jamie Saettele
As of now, I still think the EURUSD will break through 1.50 but not before the correction to 1.4475
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Thanks Jamie
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01-09-2008, 11:08 AM
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Quote:
Originally Posted by brad_1199
Here's what your looking for Blueman.... I posted this chart previously... I can count 7 waves down in the "B" wave... I think we're just starting wave 3 down. I am short this pair and looking to ride it as long as it will let me  |
Okay Brad,i hope that great profit for u,but a bit careful wave B which u count maybe impulsive..... i think,so i personaly think we are in wave 2 of large wave 5 as Jamie said..
happy trading
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