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  • #44,221
  • Nov 7, 2008 11:49pm Nov 7, 2008 11:49pm
Strategy "wild cat" Daily chart. Chart 2
Attached Image (click to enlarge)
Click to Enlarge Name: 113eur2.GIF Size: 36 KB
  • #44,222
  • Nov 8, 2008 12:09am Nov 8, 2008 12:09am
Quoting bowman
Strategy "wild cat" Daily chart. Chart 2
Nice charts. MT4?.....because I don't see the usual MT4 pair label and prices in the upper left corner. What is the story behind these charts? I mean, why are you posting them....what is it you are trying to illustrate?
  • #44,223
  • Edited 12:51pm Nov 8, 2008 1:05am | Edited 12:51pm
Yesterday you nice folks posted the .mq4 indicator files for the Hull indicator and for the Fibo Pivots indicator. Again, my thanks to you for responding to my request for them.

Now, I have a chance to give back. I have worked the Fibo Pivots indicator. It is now enhanced. The user can change individual line colors, select lines style, labels color, font size, bold font, move the labels left & right on the chart, and choose whether or not to show the prior day O, H, L, C data. It is off by default, but if chosen, it will appear on the line directly underneath the data for the current day, and in the same format.

To clarify the nature of this indicator, I have named it "PriorDayFiboPivots". The compiled code retains all the original copyright information and a statement of the enhancements made in conjunction with this new name.

The PriorDayFiboPivots.mq4 indicator file is attached. The enhanced code now makes it easy to customize this indicator to your own charts. Enjoy.
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File Type: mq4 PriorDayFiboPivots.mq4   7 KB | 366 downloads
  • #44,224
  • Nov 8, 2008 5:09am Nov 8, 2008 5:09am
1.0120 befoe end on year
next year eur will be 90 cents only .
my regards.
oan.
  • #44,225
  • Edited 3:40pm Nov 8, 2008 6:44am | Edited 3:40pm
Quoting Turhovach
http://screencast.com/t/OXf1bd91gEW

eurusd EW count

and

dollar index EW count


observations on the wave count are welcome.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: @EU# 11-07-2008.gif Size: 21 KB
Click to Enlarge Name: @DX# 11-07-2008.gif Size: 21 KB
  • #44,226
  • Nov 8, 2008 7:37am Nov 8, 2008 7:37am
Quoting oan4fx
1.0120 befoe end on year
next year eur will be 90 cents only .
my regards.
oan.
Based on what - happy faces rule?
  • #44,227
  • Nov 8, 2008 7:39am Nov 8, 2008 7:39am
Quoting unicorn7411
eurusd EW count
http://farm4.static.flickr.com/3235/...f2725cb2_o.gif

dollar index EW count
http://farm4.static.flickr.com/3013/...f6737b93_o.gif

observations on the wave count are welcome.
Looks right to me.
  • #44,228
  • Nov 8, 2008 8:57am Nov 8, 2008 8:57am
Quoting oan4fx
1.0120 befoe end on year
next year eur will be 90 cents only .
my regards.
oan.
I think so too ,if this running wave 4 end & a 5th wave equal to wave A should down more 17 hundreds pips to that level in next few weeks perhaps .

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #44,229
  • Nov 8, 2008 10:42am Nov 8, 2008 10:42am

Been catching up on my reading this Saturday afternoon and came across the following quotes of interest.


1) from Currency Magazine/Nov'08:


Euro and Dollar at Parity?


"The dollar is halfway to the moon and likely to reach it before the current
financial crisis is over. The moon, in this case, is parity with the Euro".



and 2) from SFO Magazine/Nov'08:


Earnings as a Technical Indicator


"In other words, you only care about the stock's pattern of pricing in earnings news during the after-hours session compared to how it finishes by the close the following day. Let me put it another way: You don't care what the earnings report says, only what the reaction is". Italics are directly from the article.


News, in this example stock earnings, but could be applied to any number of other events, are almost always factored in before hand. What matters is what follows the announcement.


Currency Magazine may be way off the mark thinking parity. But the chart so far is headed that way. Needless to say which way I am biased.
  • #44,230
  • Nov 8, 2008 12:06pm Nov 8, 2008 12:06pm
Political (or currency) News:

New Zealanders chose a multimillionaire former foreign currency trader Saturday to lead them through the global financial meltdown...

Interesting....
  • #44,231
  • Nov 8, 2008 12:11pm Nov 8, 2008 12:11pm
http://biz.yahoo.com/ap/081108/af_algeria_opec_oil.html
  • #44,232
  • Nov 8, 2008 12:13pm Nov 8, 2008 12:13pm
http://www.forex-markets.com/quotes.htm shows that the GAP is up
  • #44,233
  • Nov 8, 2008 12:31pm Nov 8, 2008 12:31pm
OPEC is desperate to stop the slide anyway they can. Good luck. Demand ain't there right now.

And as for weekend gaps, unless some unexpected news-related event happens before Monday's opening any trading between now and then is for the most part by OANDA & other retail outfits trading junkies who aren't smart enough to know not to trade low liquidity/high volatile periods.
  • #44,234
  • Nov 8, 2008 12:56pm Nov 8, 2008 12:56pm
Quoting SunTrader
OPEC is desperate to stop the slide anyway they can. Good luck. Demand ain't there right now.
That's why they plan to cut the supply - you saying the price won't go up if the supply is cut?
  • #44,235
  • Nov 8, 2008 1:53pm Nov 8, 2008 1:53pm
Quoting gagakrimba
http://www.forex-markets.com/quotes.htm shows that the GAP is up
What's even more interesting is the low and the high...
  • #44,236
  • Nov 8, 2008 1:56pm Nov 8, 2008 1:56pm
Quoting TIckerShuffl
That's why they plan to cut the supply - you saying the price won't go up if the supply is cut?
I don't know if it will or not. Only thing is OPEC has been talking a good game ever since the price topped out @ $147.

Also production cuts historically have never been held to by all members, someone always cheats. Russia/Norway/Canada/USA and few others will pump what they want too.

I've read some countries like Iran/Venezuela "need" $90 oil for their economies. Well will they have the discipline to get the price back there? I think they will pump at whatever price they can currently get.

Also if the dollar stays heading in an uptrend, nothing is guaranteed about that, then they are getting more valuable dollars which compensates for getting less dollars. After all, the dollar dropping in '07 was a main driver of oil and other commodities having a bull run. That and demand was rising.

Now with demand dropping and the dollar rising is a double whammy. I only see oil getting back over $75 if both these reverse once again.
  • #44,237
  • Nov 8, 2008 2:18pm Nov 8, 2008 2:18pm
Quoting SunTrader
I don't know if it will or not. Only thing is OPEC has been talking a good game ever since the price topped out @ $147.

Also production cuts historically have never been held to by all members, someone always cheats. Russia/Norway/Canada/USA and few others will pump what they want too.

I've read some countries like Iran/Venezuela "need" $90 oil for their economies. Well will they have the discipline to get the price back there? I think they will pump at whatever price they can currently get.

Also if the dollar stays heading in an uptrend, nothing is guaranteed about that, then they are getting more valuable dollars which compensates for getting less dollars. After all, the dollar dropping...
I agree. Instead of cutting down production countries like Iran and Venezuela will increase production secretly to compensate for the loss in price drop
  • #44,238
  • Edited 3:45pm Nov 8, 2008 3:05pm | Edited 3:45pm
Quoting SunTrader
Based on what - happy faces rule?
Based probably on Murrey Math, or eyeballing the all-time Low.

the current Murrey Math octave projects to possible targets at 1.2207 ~ 1.1719 ~ 1.1230
1st chart

If 1.12 is reached and the euro is weak, the next Murrey Math octave projects to 1.0742 ~ 0.9766 ~ 0.8789
2nd chart

Of course, one has to understand that this is an exercise in mathematical projections, it is not a forecast.

So if the euro reaches the 1.1700 level (as at the bottom of wave 5 of the current sequence which is a third wave - i.e. a wave C or wave 3), after the larger wave 4 correction (if euro is in fact in a 5 wave sequence as opposed to an ABC sequence), then if the euro is weak wave 5 will lead to lower levels, in the vicinity of 1.07.

So far I have used 3 if clauses; these hypotheses at this juncture have a significant probability of occurrence.

After that it is a new game (and a new wave sequence) altogether, that will be the focus of analysis if and when the (1.17 to 1.07) bracket is reached.
It does seem to be out of the question now, then again the parabolic crude oil rise was out of the question in 2005, let alone the precipitous crude oil price retreat since July.


Is 37.5$/barrel crude oil out of the question today?
3rd chart
I think not; I don't mean crude oil will trade that low next week, but wait until everyone realizes that the recession is here for more than 6 months.


I am not an expert on Murrey Math trading; I use Murrey Math to see trading levels that may come into play.
I have found what I know of Murrey Math on the web.
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  • #44,239
  • Nov 8, 2008 3:37pm Nov 8, 2008 3:37pm
Quoting unicorn7411
Based probably on Murrey Math, or eyeballing the all-time Low.
You could be right. But you were kind enough to provide some details to your hypotheses and not just a number(s).

Thanks
  • #44,240
  • Nov 8, 2008 6:59pm Nov 8, 2008 6:59pm
Quoting gagakrimba
http://www.forex-markets.com/quotes.htm shows that the GAP is up
Come on... it's almost 20 hrs yet till opening... It'll be what it'll be. Saw a nearly hundred pip gap evaporate once in a couple minutes right before the markets and borkers actually opened. Only one price to worry about and that's when your borker bell goes "ding."

Better to be concerned about the opening spreads lately that are making it increasingly hard to trade whatever gap there may or may not be.
FUBAR...
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