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  • #16,181
  • Jul 25, 2008 7:30am Jul 25, 2008 7:30am
Quoting cesare76fx
As long as we don't get a new low, we still have the valid PinBar on the Daily GMT chart that I have posted before.
And what would that mean to you after a hammer? In my interpretation: more doubt for bulls and bears also...
  • #16,182
  • Jul 25, 2008 7:42am Jul 25, 2008 7:42am
Quoting MarkGavalda
And what would that mean to you after a hammer? In my interpretation: more doubt for bulls and bears also...
Of course it does. I trade price action and trends, in my book the fact that the PB has been broken on the upside is a confirmation of its validity as a reverse from the retrace, I might be wrong but I like to believe that this move down was news related.
We had another PB after the 1.6 break, I didn't trade it, congratulation to the traders that did short, and we moved down 400pips. Now I'm looking for 300pips back up.
  • #16,183
  • Jul 25, 2008 8:12am Jul 25, 2008 8:12am
This count says that we might have significand downside to travel in EURUSD. Still, elliott counts do change quite alot So we'll see ...

Next week we have GDP in USA which should still show some growth and unemployment which should be pretty bad ... It will be a very taff and volatile week, especially the last 2 days.
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  • #16,184
  • Jul 25, 2008 8:15am Jul 25, 2008 8:15am
i guess this down move is over without breaking the low.
anybody long?
  • #16,185
  • Jul 25, 2008 8:18am Jul 25, 2008 8:18am
Quoting kirana
i guess this down move is over without breaking the low.
anybody long?
evrybody long!...=?
its just money
  • #16,186
  • Jul 25, 2008 8:23am Jul 25, 2008 8:23am
Quoting coldrecs
This count says that we might have significand downside to travel in EURUSD. Still, elliott counts do change quite alot So we'll see ...

Next week we have GDP in USA which should still show some growth and unemployment which should be pretty bad ... It will be a very taff and volatile week, especially the last 2 days.
is it B at the top?
i though B should be lower than 5.
  • #16,187
  • Jul 25, 2008 8:34am Jul 25, 2008 8:34am
The guy that made the cout implies that this is a correction. An irregular flat. In an irregular flat wave B goes a little further than the initial point (the starting point) of wave A.

It is unusual that corrections taking place at the top of such a powerfull move plays out as irregular flats, but not impossible.

Anyway, I only look at elliott counts as some sort of refference or orientation. Never put in a trade just because of an elliott count And for now I prefere to stay out. I don't keep positions over the week-end. Who knows what might happen ... some bankrupcy in USD or some conflict in the Gulf or maybe some attack in Venezuela and all the markets will open with big gaps on Monday ...
  • #16,188
  • Jul 25, 2008 8:40am Jul 25, 2008 8:40am
Quoting coldrecs
some bankrupcy in USD or some conflict in the Gulf or maybe some attack in Venezuela and all the markets will open with big gaps on Monday ...
I want all of those, and that USD opens with a large weakening gap on Monday Thank you in advance!
  • #16,189
  • Jul 25, 2008 8:45am Jul 25, 2008 8:45am
Since it's Friday, in a few hours we will have COT data and we'll be able to see how are the speculative positions in gold and USDIndex (also EURUSD). Might give us some clue on how the commercials and speculators are betting these days.
  • #16,190
  • Jul 25, 2008 8:47am Jul 25, 2008 8:47am
Quoting assamusic
Hi my friend! Are you still with LONG position as like as I'm?
I closed my Long position @ 1.5707 but I was fortunate to catch the train up from 1.5630,,
I"m now waiting for another confirmation to go long..
  • #16,191
  • Jul 25, 2008 9:10am Jul 25, 2008 9:10am
again
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  • #16,192
  • Jul 25, 2008 9:11am Jul 25, 2008 9:11am
Morning

New analyses. Given the good US news It did manage to test 1.5750 then drop back down to the retracement level for today, however that was the best It can do for my RSI studies show that it violated the 60 upper limit for bear territory and it stayed above that level for 2 hours before coming down to test the lower levels. currently it has now rejected the 40 level basically not wanting to go into bear territory anymore also level 40 being the Long lower limit which is basically the floor for long conditions so I am not hesitating looking for longs from now on until RSI peaks above 80 or collapses past 40, 80/40 is my bull territory. Bye Bears, i've transformed.


-gratiae
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"Diversification is an excuse for a lack of talent" ~FXC
  • #16,193
  • Jul 25, 2008 9:15am Jul 25, 2008 9:15am
E/J will make new highs today, if not. Next week. Have a good weekend everyone.


-valedico
"Diversification is an excuse for a lack of talent" ~FXC
  • #16,194
  • Jul 25, 2008 9:31am Jul 25, 2008 9:31am
Quoting FXCapitalist
E/J will make new highs today, if not. Next week. Have a good weekend everyone.


-valedico
I think next week...
  • #16,195
  • Jul 25, 2008 9:33am Jul 25, 2008 9:33am
Quoting FXCapitalist
Morning

New analyses.
Thanks for the RSI heads up, I always enjoy reading about indicator analysis!

btw euro seems to be strong across the board, maybe this is just a little pause and euro will raise higher today against the dollar?

i have cashed at the top of this swing, out for the weekend... i sleep better that way also.
  • #16,196
  • Jul 25, 2008 9:40am Jul 25, 2008 9:40am
Ironically I just read an article about bears attacking and eating scientist in Kamchatka. About 30 bears have the remaining scientist trapped the scientist are calling for a rescue. That really has no relevance except I have been bullish the Euro since yesterday and bulls don't eat scientist but will be munching on some tasty pips.
Redefining Reality
  • #16,197
  • Jul 25, 2008 9:41am Jul 25, 2008 9:41am
Quoting MarkGavalda
Thanks for the RSI heads up, I always enjoy reading about indicator analysis!

btw euro seems to be strong across the board, maybe this is just a little pause and euro will raise higher today against the dollar?

i have cashed at the top of this swing, out for the weekend... i sleep better that way also.
Well if you think really long term, the euro has been strong for 6 years, so if you were an investing man you would have got in at 1.00 Dec 9 2002 and never looked back, woulda made around $60k without trying if you traded 1 contract and that's not including the interest rate swaps you'll accumulate throughout those years. That's well over 60K if you factor in the compounding aspect. So all in all it takes little for the euro to show its dominance and punch back upwards.


-cheers.
"Diversification is an excuse for a lack of talent" ~FXC
  • #16,198
  • Jul 25, 2008 9:43am Jul 25, 2008 9:43am
With my analyses goes Gann Analysis, since it bounced off the equilibrium line it should be able to hit the 1st ray upwards. A bit later though.
"Diversification is an excuse for a lack of talent" ~FXC
  • #16,199
  • Jul 25, 2008 10:15am Jul 25, 2008 10:15am
Quoting viking
I think next week...
yeah volume is dying down.
"Diversification is an excuse for a lack of talent" ~FXC
  • #16,200
  • Jul 25, 2008 10:31am Jul 25, 2008 10:31am
Quoting Clouds
Ok, now go away
That's is how the quote goes.
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