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zoopy's trading journal

  • #981
  • Jun 2, 2008 8:58am Jun 2, 2008 8:58am
Quoting yamin151
Zoopy,

Looking at daily chart I have sent a scout in at 1.5550, who is fighting bravely. Very close to fibo 50. If I am wrong then we may go down to 1.538 or even 1.5280.
On weekly chart we have touched a trendline at least a couple of times and if we bounce of this again we should go above 1.5555. If we go through then 1.536 looks a possiblity and after that 1.49 begins to loom. Ho Hum......
I believe more EUR downside ahead!!


sonic
Attached Image
  • #982
  • Edited 10:14am Jun 2, 2008 9:58am | Edited 10:14am
This looks interesting on the oil 4 hour chart. We have a possible wave breaking to the upside. When and if this happens, you can be sure there is a good chance oil will be going up.

EDIT: Oil's 4 hour wave broken (confirmed break in 45 min based on my 4 hour period). Watch for euro's wave to break to the upside if this happens.

Attached Image (click to enlarge)
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  • #983
  • Jun 2, 2008 10:23am Jun 2, 2008 10:23am
Here's a follow up chart on post#971. Dow Jones daily wave collapsed, market went up now it's collapsing. Might be a very big drop on it's way.
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  • #984
  • Jun 2, 2008 10:26am Jun 2, 2008 10:26am
Again, following up on post#971, here's the S&P500. Daily wave collapsed, market is showing signs of weakness, if this current wave collapses too, watch out for a big drop.
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  • #985
  • Jun 2, 2008 10:29am Jun 2, 2008 10:29am
Following post#971 this time the NasDaq Daily chart. The wave hasn't collapsed yet, but the current high is lower. If this current wave collapses... look out below! lol
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  • #986
  • Edited 11:00am Jun 2, 2008 10:46am | Edited 11:00am
Looks like we may even break the wave to the upside end of this hour... damn. Having said that, if we break the wave to the upside and it's a confirmed break, I have mapped out the possible projection in terms of waves. End of this hour if we are anywhere near the horizontal line indicated, I will be switching my bias to longs and sending in my scout.

Edit: Price isn't high enough, going to wait for another 4 hours.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_4hour_projection.gif Size: 9 KB
  • #987
  • Jun 2, 2008 12:19pm Jun 2, 2008 12:19pm
Quoting zoopy
Again, following up on post#971, here's the S&P500. Daily wave collapsed, market is showing signs of weakness, if this current wave collapses too, watch out for a big drop.

Any longs on S&P500 better head for the hills soon lol.

http://www.forexfactory.com/news.php?do=news&id=89609
  • #988
  • Jun 2, 2008 4:03pm Jun 2, 2008 4:03pm
Going to take a low risk trade on eurusd. Was hoping for the wave to break to the upside but it hasn't yet. Because of this, I get the impression we may move down further.

Here is the reason for my short trade
1. Waves haven't broken to the upside yet (this means I'm still in "sell" mode)
2. We're below x.xx50 level which means there's a high probability we're going down to the next x.xx00 level (1.5500).
3. In order for me to be wrong, the wave has to close above 1.5560 in a convincing way. Since we're already so close to that price, the risk is low with the potential to be a high reward trade should euro drop further. Keep in mind my stops are a lot higher to accommodate any spikes that may happen.

I'm sending in my scout to see if I'm right. If I'm wrong, I'll exit and send a scout in the other direction since waves will be breaking to the upside.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_4hour_scout.gif Size: 9 KB
  • #989
  • Jun 3, 2008 6:21am Jun 3, 2008 6:21am
Quoting zoopy
In order for me to be wrong, the wave has to close above 1.5560 in a convincing way.
Good morning Zoop. Hope you are doing fine bro! As of 4am central time the close of the 4 hr was 1.5594. Is that closing above 1.5560 in a "convincing way". It took 12 hours for this to play out, that is why I am asking if it is reason enough now for a possible long position from 1.5600.
  • #990
  • Jun 3, 2008 6:30am Jun 3, 2008 6:30am
Quoting KissFan
Good morning Zoop. Hope you are doing fine bro! As of 4am central time the close of the 4 hr was 1.5594. Is that closing above 1.5560 in a "convincing way". It took 12 hours for this to play out, that is why I am asking if it is reason enough now for a possible long position from 1.5600.
Morning Kiss

Yes I noticed I was wrong on my trade so pulled out my scout and sent in another scout but in the opposite direction. I have a small long position right now with stops at 1.5475. I have it down there because I know if a wave collapses for whatever reason, I shouldn't be in my long position. When I say "convincing way", I'm referring to seeing a definite cross and close showing a wave break. If you aren't sure, let it run another 4 hours.

As for a buy at 1.5600, I'm not sure because I was watching price earlier and it seems a little weak. May be waiting for news I'm not sure. It's quite possible we may spike down to 1.5550 too so if you can get it that low even better. Either way, if I see it push through 1.5600 and slide through without much of a drop and there's momentum behind it, I'm sending in the army lol.
  • #991
  • Jun 3, 2008 6:32am Jun 3, 2008 6:32am
Quoting zoopy
Tomorrow Bernanke is speaking as well as Wednesday. Our count currently stands at 10 of 13, will we make it to 11 of 14 tomorrow? We'll find out later tonight from between Asian session and Euro/London. That's usually when the move happens
Mr Bernanke hasn't lost his touch
11 of 14!

He speaks again tomorrow. 12 of 15?
  • #992
  • Jun 3, 2008 7:53am Jun 3, 2008 7:53am
Quoting zoopy
Yes I noticed I was wrong on my trade so pulled out my scout and sent in another scout but in the opposite direction. I have a small long position right now with stops at 1.5475. I have it down there because I know if a wave collapses for whatever reason, I shouldn't be in my long position.
Sending in another 1%. If the market starts to pick up momentum, I'm sending in the rest of the army.
  • #993
  • Jun 3, 2008 8:05am Jun 3, 2008 8:05am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting zoopy
Sending in another 1%. If the market starts to pick up momentum, I'm sending in the rest of the army.
Ever get the feeling you should quite and go home.lol Eu not playing nicely AGAIN
  • #994
  • Jun 3, 2008 8:13am Jun 3, 2008 8:13am
Quoting MPP
Ever get the feeling you should quite and go home.lol Eu not playing nicely AGAIN

I'm holding my position until I'm proven wrong. Remember I base my trades on the close. If it closes and a wave collapses then I'm wrong.

I'll catch the move...whenever that is lol. That's why I send in scouts. If I was to go in with a full position I'd be killed by now.
  • #995
  • Jun 3, 2008 8:22am Jun 3, 2008 8:22am
If this current wave collapses or looks like it will, we may be looking at the following wave structure. Also mean's we're making larger waves down.

Edit: Wave has just collapsed. Entering in with another scout... lol. We're making larger waves down. Huge correction is happening.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_4hour_collapse.gif Size: 9 KB
  • #996
  • Jun 3, 2008 8:32am Jun 3, 2008 8:32am
4 hour waves on oil are starting to show signs it may collapse as well.
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  • #997
  • Jun 3, 2008 9:15am Jun 3, 2008 9:15am
Quoting zoopy
Edit: Wave has just collapsed. Entering in with another scout... lol. We're making larger waves down. Huge correction is happening.
When we get a retracement (this current move went down too quickly and by a LOT, expect a pullback just as fast), I will be shorting it again. As long as this current wave doesn't break and close above 1.5600, shorts are fine. Direction is definitely still down.
  • #998
  • Jun 3, 2008 12:38pm Jun 3, 2008 12:38pm
May be a little too early since my 4 hour period ends at 4:00pm NY. Here's a glimpse at what may happen since it's already showing signs. Waves are collapsing down again meaning further downward movement on oil.
Attached Image (click to enlarge)
Click to Enlarge Name: oil_4hour_collapse.gif Size: 8 KB
  • #999
  • Jun 3, 2008 12:43pm Jun 3, 2008 12:43pm
Daily wave collapse on Dow Jones. S&P500 looks like it wants to follow too. Going to be interesting to see where this one closes.
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  • #1,000
  • Jun 3, 2008 7:23pm Jun 3, 2008 7:23pm
Here is my updated wave chart for the eurusd. We do have a confirmed wave collapse. Having said that, I will be looking to short on a pullback (anywhere within the highlighted area). I am still biased to the downside and my view hasn't changed until we break waves going up.

If waves collapse, only look to sell.
If waves break to the upside, only look to buy.
Follow the direction the waves break. Don't fight the market, follow it.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_4hour.gif Size: 9 KB
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