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  • #41,801
  • Oct 27, 2008 1:27am Oct 27, 2008 1:27am
Quoting SunTrader


I closed my short at 1.2500.. because I thought it could do a double bottom at 1.25 support... but then broke... lol... I'm waiting to 1.2500 again to reenter short.
  • #41,802
  • Oct 27, 2008 1:27am Oct 27, 2008 1:27am
Quoting enoh james a
hi,hows everybody feeling hows trading going to be this week,i feel eur is going down 1.2500 level so wat do u guys think?
We blew past that level about an hour and a half ago. Now its fighting it out around today's S1
  • #41,803
  • Oct 27, 2008 1:33am Oct 27, 2008 1:33am
hi,hows everybody feeling hows trading going to be this week,i feel eur is going down 1.2300 level so wat do u guys think?
  • #41,804
  • Oct 27, 2008 1:38am Oct 27, 2008 1:38am
Quoting enoh james a
hi,hows everybody feeling hows trading going to be this week,i feel eur is going down 1.2300 level so wat do u guys think?
Nevermind this week, more like this day.
  • #41,805
  • Oct 27, 2008 1:57am Oct 27, 2008 1:57am
Hi guys

I am relatively new to trading, favorite pairs are the EUR/USD and AUD/USD.

What are youre thoughts on todays price movement?


Its gone south in the last few hours, waiting for possible retracement but who knows when that will occur.


Is this a good time to look for divergence? Or no?

I would like to catch the upward trend.

Lets see if we can work out what will happen (probably impossible given the events of today and last Friday)
  • #41,806
  • Oct 27, 2008 2:06am Oct 27, 2008 2:06am
Quoting SunTrader
Nevermind this week, more like this day.
dont understand u
  • #41,807
  • Oct 27, 2008 2:11am Oct 27, 2008 2:11am
not what I wanted to wake up to. You Euro shorts are making a mint - AGAIN!

Whoa hang seng down over 12%?
  • #41,808
  • Oct 27, 2008 2:18am Oct 27, 2008 2:18am
Quoting Niandra_lade
Hi guys

I am relatively new to trading, favorite pairs are the EUR/USD and AUD/USD.

What are youre thoughts on todays price movement?


Its gone south in the last few hours, waiting for possible retracement but who knows when that will occur.


Is this a good time to look for divergence? Or no?

I would like to catch the upward trend.

Lets see if we can work out what will happen (probably impossible given the events of today and last Friday)
Upward trend, won't get much support on these boards...nor the chart. This is incredible time to trade, you should certainly start with demo account...best of luck!
  • #41,809
  • Oct 27, 2008 2:22am Oct 27, 2008 2:22am
Quoting TIckerShuffl
Upward trend, won't get much support on these boards...nor the chart. This is incredible time to trade, you should certainly start with demo account...best of luck!

It has to retrace eventually, right?
  • #41,810
  • Oct 27, 2008 2:25am Oct 27, 2008 2:25am
Quoting To Be
Hello guys and girls

I hope you enjoyed your weekend

I was playing in the chart and I found some funny things
here is what did I find:

http://i37.tinypic.com/mju59l.jpg

First , Harmonic pattern (blue line ) showing the D target is 1.2345
If this pair goes upper than 1.6685 for more than one hour then the pattern is failed

Then, wolfe wave ( Green Numbers ) targeting almost the same point @ 1.2345 ( actually it is a little bit lower)
If the wolfe wave pattern is correct, there is two points to be considered here :
1) the fifth wave will be finished quickly ( arounf 13 bar or 5-6 hours)
2) wolfe wave is 6 waves, the sixth ( and the last ) wave target @ 1.2781 ( good retracment if it happend)

one more thing here
according to Elliotte wave, the beginning of A in harmonic is actually the beginning of the first of the third wave, C is the second of the third, and now this pair is in the third of the third which targeting:
1.2470
1.2335
1.2274
and finally 1.1458 (1.62 fib)

and that’s it guys, will you tell me what do you think

Regards.

Bingooooo

Two things remaining here,
According to Elliott wave anaylsis, Is 1.2345 the end of the downtrend or we are going to see 1.2274
Second thing which is more important, wolfe wave now finished from wave 5 and we supposed to see a nice retracment up to 1.2781... do you think?

Let see

See you guys
  • #41,811
  • Oct 27, 2008 2:27am Oct 27, 2008 2:27am
Quoting To Be
Bingooooo

Two things remaining here,
According to Elliott wave anaylsis, Is 1.2345 the end of the downtrend or we are going to see 1.2274
Second thing which is more important, wolfe wave now finished from wave 5 and we supposed to see a nice retracment up to 1.2781... do you think?

Let see

See you guys
very precise
  • #41,812
  • Oct 27, 2008 2:30am Oct 27, 2008 2:30am
an 261.8 extension fib for the last up retracement is at 1.2288
H4 chart.
  • #41,813
  • Oct 27, 2008 2:31am Oct 27, 2008 2:31am
Quoting To Be
Bingooooo

Two things remaining here,
According to Elliott wave anaylsis, Is 1.2345 the end of the downtrend or we are going to see 1.2274
Second thing which is more important, wolfe wave now finished from wave 5 and we supposed to see a nice retracment up to 1.2781... do you think?

Let see

See you guys

So will you go long on the Euro?

if so, when will you enter?
  • #41,814
  • Oct 27, 2008 2:32am Oct 27, 2008 2:32am
Quoting Niandra_lade
It has to retrace eventually, right?
There have been very few retraces lately, but I hope you are right. I try to catch rebounds too, but wishing I had been just short since the meltdown started.
  • #41,815
  • Oct 27, 2008 2:34am Oct 27, 2008 2:34am
Dollar shorts need Helicopter Ben Bernanke to come to the resue
  • #41,816
  • Oct 27, 2008 2:34am Oct 27, 2008 2:34am
Guys seriously the trend is down, down , down. All the charts in the world will tell you that.

It's a strange time and with pending interest rate cuts that look now priced in it could go a lot lower.
  • #41,817
  • Oct 27, 2008 2:43am Oct 27, 2008 2:43am
Quoting To Be
Bingooooo

Two things remaining here,
According to Elliott wave anaylsis, Is 1.2345 the end of the downtrend or we are going to see 1.2274
Second thing which is more important, wolfe wave now finished from wave 5 and we supposed to see a nice retracment up to 1.2781... do you think?

Let see

See you guys
Nice post and great chart. Started fib retrace to 2759 and bounced off 23.6 Fib for 25 PIPs down. Thanks.
Up or down, gimme a ticket
  • #41,818
  • Oct 27, 2008 2:50am Oct 27, 2008 2:50am
I'm not going to go long. Instead I will look to go short when the 127 fib line is strongly breached again.

OR, if the price decides to go up, then I'll look to go short IF there is a bounce at the 100 fib level, and I'm confident that it will head back down towards the 127 fib line.
Attached Image (click to enlarge)
Click to Enlarge Name: catch on way down.JPG Size: 190 KB
  • #41,819
  • Oct 27, 2008 2:55am Oct 27, 2008 2:55am
Quoting To Be
Bingooooo

Two things remaining here,
According to Elliott wave anaylsis, Is 1.2345 the end of the downtrend or we are going to see 1.2274
Second thing which is more important, wolfe wave now finished from wave 5 and we supposed to see a nice retracment up to 1.2781... do you think?

Let see

See you guys
My levels almost the same as yours, but I am not use Elliot wave as primarily analysis.
My Target was 1.2341.
Now or we are going to 1.2262/1.2242 or to 1.2770.
I will not long this Market, will wait new levels to short, but we might see for the next days some kind of retrace!
  • #41,820
  • Oct 27, 2008 3:00am Oct 27, 2008 3:00am
Quoting altrader
OR, if the price decides to go up, then I'll look to go short IF there is a bounce at the 100 fib level, and I'm confident that it will head back down towards the 127 fib line.

And lets say it hits the 100 fib, say around 1.2500

What will give you the confidence that it will fall back down to 127 fib level?
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