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  • #48,841
  • Edited 4:52pm Dec 8, 2008 4:48pm | Edited 4:52pm
If anybody is bored, might check out the PA on the 15m 34sma hits since the turn last friday when it blew thru.

it's either gonna bust it or continue the bounce at this point... or consolidate it above it to continue the climb later this evening.

Notice the two previous tweezer hits and then it shot up. Now in pre-asian twilight zone, we have a much weaker hit with the next few minutes looking iffy...
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FUBAR...
  • #48,842
  • Edited 5:03pm Dec 8, 2008 4:53pm | Edited 5:03pm
Quoting knuckledrag
I posted this over the weekend to see if you thought it would fit your wolf wave pattern. If you check back in anytime soon, I would love to hear your perspective.
This is weird, I was sure I had answered that one... maybe some computer (or brain) glitch.

Yes it would seem so. It can also be seen on H1.
Point 3 is at 138.2 extension of precedent wave, and point 5 would be (if reaching 161.8) at around 1.2985, maybe 1.30? Not much higher, I think.

But, who knows?
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  • #48,843
  • Dec 8, 2008 4:55pm Dec 8, 2008 4:55pm
one of my many observations when it comes to pa. on days such as today when there is nothing but one direction..in this case up...a simple concept comes to mind. each resistance that gets broken becomes support. the first newly made support that gets broken and becomes resistance again indicates the start of a retracement. at that time drawing fibs from the low of the uptrend to the high becomes quite useful to determine potential targets. still...each resistance that was broken and became support will act as support until broken. currently that first level is 1.2910...after it is 1.2870 (which is also 23.6% fib retracement for this upmove) then 1.2840 and so on...clearly there was a reason for this whole bull rally whichever it is (whether the bailout or obama plan or the stock market or oil/gold having a major rally)...this retracement should tell us just how strong the strength of this bull run was and what to expect during euro/ny stock market sessions. on that note..i am currently flat and going to take a nap...be back later.
Different opinions highly valued, ignorant to slander.
  • #48,844
  • Dec 8, 2008 4:56pm Dec 8, 2008 4:56pm
Anybody selling this ?
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  • #48,845
  • Dec 8, 2008 4:56pm Dec 8, 2008 4:56pm
New Update :
EUR/USD Sell near 1.2977
GBP/USD Sell near 1.4977
AUD/USD Buy near 0.6577
NZD/USD Buy near 0.5377
USD/CHF Sell near 1.2087
I see Asian session little chappy.
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  • #48,846
  • Dec 8, 2008 5:01pm Dec 8, 2008 5:01pm
Quoting Algirdas
New Update :
EUR/USD Sell near 1.2977
GBP/USD Sell near 1.4977
AUD/USD Buy near 0.6577
NZD/USD Buy near 0.5377
USD/CHF Sell near 1.2087
I see Asian session little chappy.
I'd offer some talcum powder if he's a little chappy.
  • #48,847
  • Dec 8, 2008 5:06pm Dec 8, 2008 5:06pm
Quoting doblece
This is weird, I was sure I had answered that one... maybe some computer (or brain) glitch.

Yes it would seem so.
Maybe I missed it
Thanks. If price reaches 1.3034 or something close I'm looking for a short.
Thanks again for your input. Nothing is for sure, but it will be worth watching.
  • #48,848
  • Dec 8, 2008 5:07pm Dec 8, 2008 5:07pm
So many options...

EU 4hr looks grim. Bemac 288sma sitting right on top of price, with LTL from Fridays turn squeezing it from below and already a couple lumps on the noggin from slammin into the daily UTL (not shown)..

I'm going to watch TV tonite and think about something else... GOOD LUCK
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FUBAR...
  • #48,849
  • Edited 5:25pm Dec 8, 2008 5:08pm | Edited 5:25pm
Quoting toshi
Anybody selling this ?
Good catch on the gartley...

ADDED: Actually, I'm likin that alot. Combined with what I'm seeing here, that could be the deal.. Here's a 2hr swing fib from the low on 12/04. Only problem i see at this point is getting a good entry. Missed the top earlier and won't enter at this level so...

Still, technicals don't mean a hoot if the market has determined otherwise.

I'm going to watch tv.
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FUBAR...
  • #48,850
  • Dec 8, 2008 5:21pm Dec 8, 2008 5:21pm
Quoting ak4x
Good catch on the gartley...
Thank you. Thank you.
I read the last couple of pages of posts and it looks like everybody's got a reason to sell euro in here. Just pick your favorite.

So now it makes me a little hesitant to press the trade if there'll be no one else left to sell to. Life gets strange sometimes.
  • #48,851
  • Dec 8, 2008 5:36pm Dec 8, 2008 5:36pm
Quarter Pivot at 2920 giving the first bounce..

OK. I'm going to set a limit sell in up a'rd the high 50's in case of a headfake retest of the high at todays M3 with a medium stop...

If it turns out otherwise... oh well. Having a lot of stops hit lately. Too much work and risk to wind up where you started from at the end of the day.

That's usually my clue to just stop for this time of year... we'll see.
FUBAR...
  • #48,852
  • Dec 8, 2008 6:04pm Dec 8, 2008 6:04pm
a good 50 pips from 1.2950 if you went short. not bad.
  • #48,853
  • Dec 8, 2008 6:19pm Dec 8, 2008 6:19pm
eur/usd longer term 10wk

r2 1.3253
m4 1.3091
r1 1.2928
m3 1.2842
pp 1.2755
m2 1.2593
s1 1.243
m1 1.2344
s2 1.2257
those who can, do. those who cant, talk about those who can
  • #48,854
  • Dec 8, 2008 7:05pm Dec 8, 2008 7:05pm
Quoting gatorinla
eur/aus may be worth a look at if eur/usd heads south. this one moves good lately. lots of pips north if charts set up. it usually contertrends eur/usd
above 16 hours ago

entry long 1.966. this was the pryer days chart before entry. tp is about 500 maybe more 2.0136 does not seem out the question. had been up 300 pips today ... longer term still looks good for now.. scalped 39 on eur/usd but lost 70 on a small trade eur/chf.. sl was too tight for what i was trying to do..and
i got in trade friday without confirmation with charts.


r2 2.0302
m4 2.0136
r1 1.9971
m3 1.9878
pp 1.9784
m2 1.9619
s1 1.9453
m1 1.936
s2 1.9266*
those who can, do. those who cant, talk about those who can
  • #48,855
  • Dec 8, 2008 7:40pm Dec 8, 2008 7:40pm
Quoting gatorinla
above 16 hours ago

entry long 1.966. this was the pryer days chart before entry. tp is about 500 maybe more 2.0136 does not seem out the question. had been up 300 pips today ... longer term still looks good for now.. scalped 39 on eur/usd but lost 70 on a small trade eur/chf.. sl was too tight for what i was trying to do..and
i got in trade friday without confirmation with charts.


r2 2.0302
m4 2.0136
r1 1.9971
m3 1.9878
pp 1.9784
m2 1.9619
s1 1.9453
m1 1.936
s2 1.9266*
Love you man, BUT TAKE F-ING PROFIT
  • #48,856
  • Dec 8, 2008 7:51pm Dec 8, 2008 7:51pm
down she goes. 1.2880
  • #48,857
  • Dec 8, 2008 7:52pm Dec 8, 2008 7:52pm
*L* 20 now
those who can, do. those who cant, talk about those who can
  • #48,858
  • Dec 8, 2008 7:53pm Dec 8, 2008 7:53pm
310 now oops
those who can, do. those who cant, talk about those who can
  • #48,859
  • Dec 8, 2008 7:58pm Dec 8, 2008 7:58pm
Quoting knuckledrag
Love you man, BUT TAKE F-ING PROFIT
ok sold 1/4 my long term is so pretty....im thinking 700 but hoping 1000+ in reality.. odds of being right are so much better at 500.. chart says 700 plus
those who can, do. those who cant, talk about those who can
  • #48,860
  • Dec 8, 2008 7:59pm Dec 8, 2008 7:59pm
If it was the wave 3, could go down to around 1.2833 (MS1 - 38.2% fib of the move), then back up for wave 5. Watch out for double bottom there.
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