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  • #47,981
  • Dec 3, 2008 3:21am Dec 3, 2008 3:21am
Hi guys,

04.30h Service PMI data (GBP)... but
I look at 2591 .. itīs a good support
The best thing that can happen to you is to find out where you're wrong.
  • #47,982
  • Dec 3, 2008 3:27am Dec 3, 2008 3:27am
good morning all

Careful trading today in European session
Dax opened lower but likely to recover some
Oil and Gold steady

Eur dropped due to weak German and French PMI data

Closed shorts @1.264 for possible retrace in preparation for USD figures this PM (Non farm and ISM).

Long from 1.262 with tight SL
T1 1.2680 (Daily Pivot)
T2 1.2739 (MR - Asian high)

As always...just my 2 cents...
  • #47,983
  • Dec 3, 2008 3:35am Dec 3, 2008 3:35am
If it does, maybe to 2664 at the most.

Jim

Quoting Shadowfx
good morning all

Careful trading today in European session
Dax opened lower but likely to recover some
Oil and Gold steady

Eur dropped due to weak German and French PMI data

Closed shorts @1.264 for possible retrace in preparation for USD figures this PM (Non farm and ISM).

Long from 1.262 with tight SL
T1 1.2680 (Daily Pivot)
T2 1.2739 (MR - Asian high)

As always...just my 2 cents...
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 37 KB
  • #47,984
  • Dec 3, 2008 3:54am Dec 3, 2008 3:54am
Ya know, I just got thu analysing the 4 Hr and all I can see is D-O-W-N. There is an evening star made up of 6 candles including, 1 Hammer, 1 Inverted Hammer and 3 indecisive candles. I am sure we will get some kind of small retracement, but it will not surprise me if this thing sticks that 1.2458 Inside Bottom by mid morning.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 24 KB
  • #47,985
  • Dec 3, 2008 3:58am Dec 3, 2008 3:58am
Quoting Shadowfx
good morning all

Careful trading today in European session
Dax opened lower but likely to recover some
Oil and Gold steady

Eur dropped due to weak German and French PMI data

Closed shorts @1.264 for possible retrace in preparation for USD figures this PM (Non farm and ISM).

Long from 1.262 with tight SL
T1 1.2680 (Daily Pivot)
T2 1.2739 (MR - Asian high)

As always...just my 2 cents...
nice 2 cents appreciated.
  • #47,986
  • Dec 3, 2008 4:04am Dec 3, 2008 4:04am
Quoting hard1head1
Ya know, I just got thu analysing the 4 Hr and all I can see is D-O-W-N. There is an evening star made up of 6 candles including, 1 Hammer, 1 Inverted Hammer and 3 indecisive candles. I am sure we will get some kind of small retracement, but it will not surprise me if this thing sticks that 1.2458 Inside Bottom by mid morning.

Jim
I fully agree with the down Jim and think we will enter 1.25 zone again soon.
However with data heavy USD figures this PM and the rates tomorrow, which are expected to be cut, I would not be surprised at all to see another bullish break out before we go down into the 1.25..

Just my 2 cents...
  • #47,987
  • Dec 3, 2008 4:09am Dec 3, 2008 4:09am
Oh, I will have my stops up tight, just in case.

Jim

Quoting Shadowfx
I fully agree with the down Jim and think we will enter 1.25 zone again soon.
However with data heavy USD figures this PM and the rates tomorrow, which are expected to be cut, I would not be surprised at all to see another bullish break out before we go down into the 1.25..

Just my 2 cents...
  • #47,988
  • Dec 3, 2008 4:09am Dec 3, 2008 4:09am
Quoting Shadowfx
good morning all

Careful trading today in European session
Dax opened lower but likely to recover some
Oil and Gold steady

Eur dropped due to weak German and French PMI data

Closed shorts @1.264 for possible retrace in preparation for USD figures this PM (Non farm and ISM).

Long from 1.262 with tight SL
T1 1.2680 (Daily Pivot)
T2 1.2739 (MR - Asian high)

As always...just my 2 cents...
Also to remember that negative equities news= strenght for USD.. vice versa. unless there is a better that expected expectation.
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #47,989
  • Dec 3, 2008 4:19am Dec 3, 2008 4:19am
Definitely the Wolfe Wave should be a tool to be added to the analytical trading box... Since it was posted, I've been spotting some on different timeframes but mostly on M15... sometimes they go full target and timing, sometimes they aren't as perfect, but it's really amazing.

I'll post the chart as soon as I can build it new (too much clutter on my analysis chart...)
  • #47,990
  • Dec 3, 2008 4:20am Dec 3, 2008 4:20am
Quoting Shadowfx
I fully agree with the down Jim and think we will enter 1.25 zone again soon.
However with data heavy USD figures this PM and the rates tomorrow, which are expected to be cut, I would not be surprised at all to see another bullish break out before we go down into the 1.25..

Just my 2 cents...
But if ECB cuts rates, EUR/USD will go down, in favor of the dollar, right?

As always, thanks for your early-morning 2 cents, Shadow and Jim. Your posts give a bunch of us confidence in direction.

Good trading to all today.
Up or down, gimme a ticket
  • #47,991
  • Dec 3, 2008 4:25am Dec 3, 2008 4:25am
Quoting SpecialEd
But if ECB cuts rates, EUR/USD will go down, in favor of the dollar, right?
That's what we would expect yes Ed...having said that the market reactions have been delayed lately and also been full of "already build in anticipations upon.."

Moral of the story...don't short a rate cut blind...you might get burned...

Just my 2 cents...
  • #47,992
  • Dec 3, 2008 4:28am Dec 3, 2008 4:28am
Quoting Shadowfx
That's what we would expect yes Ed...having said that the market reactions have been delayed lately and also been full of "already build in anticipations upon.."

Moral of the story...don't short a rate cut blind...you might get burned...

Just my 2 cents...
Yep, I hear ya. Thanks.
Up or down, gimme a ticket
  • #47,993
  • Edited 4:48am Dec 3, 2008 4:33am | Edited 4:48am
Here's the Wolfe chart... sometimes it is not easy to spot the pattern and sometimes also there is simply NO pattern at all... but I have been following up all which I've been seeing and it is pretty much accurate 9 out of 10 times. I wouldn't trade based on this only, though, but it is good to have it as a confirmation of other instruments, like pivots, fibs, etc..

The "timing" thing is what amazes me the most.
Now, I had just spotted another one just before this one (a bullish one and I don't remember on which timeframe) which was giving me a 1.30 target for tomorrow at 18:00 GMT+2... I will try to see if I can spot it again (my lines got deleted somehow).

Edited: I found it... but is most probably wrong as I was expecting wave 5 to be earlier and so the pattern is failed. Please disregard that one...
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  • #47,994
  • Dec 3, 2008 4:44am Dec 3, 2008 4:44am
Anyone can tell which is the minimum reached today? I'm working now and I don't have access to my platform...tks for help
  • #47,995
  • Dec 3, 2008 4:46am Dec 3, 2008 4:46am
Quoting Legio_Ulpia
Anyone can tell which is the minimum reached today? I'm working now and I don't have access to my platform...tks for help
1.26061 is low of the day
  • #47,996
  • Dec 3, 2008 4:50am Dec 3, 2008 4:50am
Thanks Shadowfx,I set my TF last night at 1.2600,hope this minimum is enough to close my positions..
  • #47,997
  • Dec 3, 2008 4:51am Dec 3, 2008 4:51am
hi all...
how's ur trade?
i've been a passive reader since last month, cause i don't have anything to share, and i'm still learning about how to make a good trade...

@doblece
where can i find the information about those wolve charts? it seems interesting to me
thx

@shadowfx
your 2 cents worth 2 millions
thx for sharing here...
wish that u can teach me about how to trade well though
keep posting bro...

have a nice pippin' all
Money management is good for your health...
  • #47,998
  • Dec 3, 2008 5:04am Dec 3, 2008 5:04am
Ho visto che sei italiano di dove sei?


Quoting Legio_Ulpia
Thanks Shadowfx,I set my TF last night at 1.2600,hope this minimum is enough to close my positions..
  • #47,999
  • Dec 3, 2008 5:14am Dec 3, 2008 5:14am
Quoting 13thheaven
@doblece
where can i find the information about those wolve charts? it seems interesting to me
thx
Here's the main website where it's all explained:

http://www.wolfewave.com/

Regards
Caroline
  • #48,000
  • Dec 3, 2008 5:20am Dec 3, 2008 5:20am
thx caroline,
but that's not a free site
i can't afford to pay him that sum of money...
but thx anyway

Quoting doblece
Here's the main website where it's all explained:

http://www.wolfewave.com/

Regards
Caroline
Money management is good for your health...
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