For those still here there is a little reward, the new Market Strips comic is out: Market Obedience.
http://4.bp.blogspot.com/-HUIIvvKiDB...2012-11-23.jpg
http://4.bp.blogspot.com/-HUIIvvKiDB...2012-11-23.jpg
Trading Cartoons and Pics 2,829 replies
EUR/USD Trading Room 328 replies
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DislikedFor those still here there is a little reward, the new Market Strips comic is out: Market Obedience.
http://4.bp.blogspot.com/-HUIIvvKiDB...2012-11-23.jpgIgnored
DislikedGreat day! Traders of the Cartoon Gallery, I have updated the latest chart of the Aussie from my blog and I have marked where the retracement for the trend in this bullish market enviroment could land on, there is a small confluence between the rising golden trendline and the 1.0400 level which was the latest swing high resistance now converted into support (last marked upwards blue arrow), this is the place where the green b level marked on DaddyBear's chart might bounce off in my opinion, of course current momentum is pretty high on the long side...Ignored
Dislikedone of the major rules in the EW theory principle is that wave 4 does not enter price territory of wave 1
from your chart wave 1 has a top 0.9404 and wave 4 has a low of 0.9387Ignored
DislikedWithin motive waves, wave 2 never retraces more than 100% of wave 1, and wave 4 never retraces more than 100% of wave 3. Wave 3, moreover, always travels beyond the end of wave 1. The goal of a motive wave is to make progress, and these rules of formation assure that it will.
[font=Arial][size=2]Elliott further discovered that in price terms, wave 3 is often the longest and never the shortest among...Ignored
DislikedIn an impulsive pattern, wave 4 cannot overlap with wave 1. If it does, the pattern is corrective.Ignored
DislikedHow are they trade the Aussie under such dual-view? May be like this.Ignored
DislikedA leading diagonal in the wave one position is typically followed by a deep retracement. example from EW lessonIgnored
Disliked"AUD/USD's rebound from 1.0286 extended further last week but it's still held below 1.0480 resistance. Initial bias remains neutral this week. Above 1.0480 will extend the whole rally from 1.0148. But as noted before, such choppy recovery is viewed as a corrective move and thus, we'd expect strong resistance below 1.0624 to limit upside and bring another decline. Meanwhile, below 1.0286 will flip bias back to the downside for 1.0148 first."
(http://www.actionforex.com/action-insight/audusd-outlook/aud%10usd-weekly-outlook-20121124179170/)
http://www.forexfactory.com/attachme...1&d=1342182564
Two-way...Ignored
DislikedWhat is your take of the Aussie's next move on Sunday?
http://www.forexfactory.com/attachme...1&d=1353708063Ignored