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- FXoffshore replied Jan 21, 2009
The secret is that fundamental analysis is favored by people who sell information. There is not much to sell with TA or Sentiment, so the subscription business focuses on the mysteries of fundamentals and their interpretation of what is important. ...
- FXoffshore replied Jan 21, 2009
Fundamental trading is 50/50 at best — Forget fundamentals, they do not move markets, that is a myth that has been debunked often. There are 100's of economic stories each day, and assigning a meaning is about as reliable as reading tea leaves ...
- FXoffshore replied Jan 14, 2009
Prechter - None better — Prechter is a genius, and a great trader. His best guy is Steve Hochberg, who is bang on most times, (no one is perfect). EWI has a dozen other specialists, and Jim Martens is head of currencies. Jim seems to miss the ...
- FXoffshore replied Jan 14, 2009
Here is a count of the current correction, half way through a zig-zag. image
- FXoffshore replied Jan 14, 2009
It was a A-B-C retracement from the low earlier today, that peaked in a contracting diagonal triangle, then fell sharply - as expected. I expect it was wave A of a 5:3:5 zig-zag pattern, with the B wave drop, to be followed by one more leg where C = ...
- FXoffshore replied Jan 14, 2009
That is the deception with news, one can assign a market move to anything that just happened, often with no real connection. Markets are moved by fear and greed, the collective positive or negative moods of buyers and sellers. It is often ...
- FXoffshore replied Jan 14, 2009
Oh really? Euro just dropped 100 pips in 30 minutes right now. Mood moves market prices, not news.
- FXoffshore replied Jan 13, 2009
Hi Sixer, did you notice EWI recanted the "Euro going higher" belief today, and changed to 5 waves down?
- FXoffshore replied Jan 13, 2009
When Euro moves another 55 pips lower, that wave 4 count is invalidated because 4 enters the price territory of 1 at 1.3085 or lower. Same goes for synthetic DX index, it reached as high as 84.45, and invalidates wave.4 possiblity by breaking 84.70 ...
- FXoffshore replied Jan 12, 2009
I have not traded Gbp/Jpy for some time, it is a rocket. When I traded it, I followed 3 charts, most important was Usd/Jpy - it moves price the most, then Gbp/Usd, and finally the synthetic Gbp/Jpy. I had to know what was going on with Usd/Jpy ...
- FXoffshore replied Jan 12, 2009
I subscribe, so I saw that chart. Jim Martens is excellent. Better is the monthly chart from Dec 11th before he changed from bear to bull. I disagree with him right now only on the short term. He sees Euro going back to 1.60 in 5 waves and I see it ...
- FXoffshore replied Jan 12, 2009
Euro breaks 1.33 support — Euro broke the 1.33 support level this morning by 20 pips. This provides a 5th wave down count, and invalidates some bullish counts looking to revisit 1.47 soon. A double 3 could be the alternative, either way we ...
- FXoffshore replied Jan 5, 2009
Nice to see the plan work out on the lower side. It still has a long way to go.
- FXoffshore replied Jan 5, 2009
I think it is a bearish declining triangle, which would break to the bottom side. My count has it as a small 4th wave being completed as wave E of 4 in an extending wave (3) down. (But it could also be of C down should Eur need to complete a 5th ...
- FXoffshore replied Jan 1, 2009
ECB Rate Date — Next ECB is January 15th - 2 weeks from now. Rates are expected to drop, and that is/will push Eur lower. I would caution the Eur bulls about going long until after a bottom is found.
- FXoffshore replied Dec 30, 2008
I favor that the fall from 1.60 to 1.23 was (A), however it could be 1. My second choice is A of (A) of [C]. I think we are working out a (B) wave now. It has the price height required at .618, but needs weeks more time - as I believe wave B must be ...
- FXoffshore replied Dec 29, 2008
Let wave 3 down begin in Euro — I agree. The bearish correction since Dec 19 1.3822 has been in 3 waves, and has taken too much time (plus overlaps) to be an impulse. Now the proof is in with todays move below 1.4018 eliminating any upward ...
- FXoffshore replied Dec 29, 2008
Euro bear returns — Be careful of a bull trap! Euro is heading lower now, it is clear it fell from 1.47 in 5 waves from the .618 retracement, moved up in 3 corrective waves, and today is falling in 5 wave impulsive movements. Price action this ...
- FXoffshore replied Dec 23, 2008
Euro chart — I expect we have seen the high for the Euro retracement, and should see another 5 large wave impulse as (C) continues lower. I can count the first small 5 waves down now as 1, and perhaps the final v of c wave of 2 is close to ...
- FXoffshore replied Dec 23, 2008
Euro chart — I expect we have seen the high for the Euro retracement, and should see another 5 large wave impulse as (C) continue lower. I can count the first small 5 waves down now as 1, and perhaps the final v of c wave of 2 is close to ...