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  • #99,881
  • Edited 1:50pm May 24, 2009 1:35pm | Edited 1:50pm
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another Elliott view

Written by TheLFB-Forex.com | May 22 09 12:40 GMT

Eur/Usd "1.4000 Turning Point"
4 Hour Chart trend: Short possibilities. Main price points: 1.3970. Looking for: Wave V) top
Euro made another push up against the US dollar and finally hit our Fibonacci target area. The 1.3737 area acted perfectly as support in the blue wave iv, for a higher wave v price, as highlighted yesterday. If the wave count is correct then the market should make a turning point soon; maybe in the next week, or maybe even ahead of the U.S. bank holiday on Monday. We can count five black waves up in an extended red wave III which means that the market should make at least three waves of pull-back into the red IV. We will be looking for three waves of retracement, once the wave IV correction starts.
  • #99,882
  • May 24, 2009 1:43pm May 24, 2009 1:43pm
Quoting xiaofeng0717
Attachment

another Elliott view

Eur/Usd "1.4000 Turning Point"
4 Hour Chart trend: Short possibilities. Main price points: 1.3970. Looking for: Wave V) top
Euro made another push up against the US dollar and finally hit our Fibonacci target area. The 1.3737 area acted perfectly as support in the blue wave iv, for a higher wave v price, as highlighted yesterday. If the wave count is correct then the market should make a turning point soon; maybe in the next week, or maybe even ahead of the U.S. bank holiday on Monday. We...

This is the setup that I'm currently trading.
  • #99,883
  • May 24, 2009 1:44pm May 24, 2009 1:44pm
Quoting xiaofeng0717
another Elliott view
.........
Shouldn't you give someone credit for that analysis or are you not supposed to re-copy it?
  • #99,884
  • May 24, 2009 1:45pm May 24, 2009 1:45pm
Quoting SunTrader
Shouldn't you give someone credit for that analysis or are you not supposed to re-copy it?

It's impossible to get away with the slightest slip in this thread!
  • #99,885
  • May 24, 2009 1:50pm May 24, 2009 1:50pm
Quoting SunTrader
Shouldn't you give someone credit for that analysis or are you not supposed to re-copy it?

ok, re-edit it.
  • #99,886
  • May 24, 2009 1:59pm May 24, 2009 1:59pm
We ended Friday with a perfect gravestone doji on the 4 hour.
That could be the top and the start of the reversal.
Also, my idea is that the fundies the coming week might favor a stronger dollar.
Home sales, durable goods orders, consumer confidence may all favor the dollar.
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New voice message: Why are you calling me? If I need you, I'll call you!
  • #99,887
  • May 24, 2009 2:02pm May 24, 2009 2:02pm
How 'bout this:

Ya know, last week EuroDollar stood just under 135 after receiving a good whacking on Friday (May 15th).

Except for the people calling for a 500 gap up to 140 on Sunday nite (bless your tortured souls),
the prevailing attention was focused on things like "...will we retest 136 ?...."
or, "...what about that 132 support level ?..." and things of that nature.

The bigger picture turned out quite different. Therefore, I would propose a moment or two
to think about this weeks big picture. By Friday (May 29) the market will have once again gone on
what should likely end up another wild and crazy journey across the charts.

But where to ?

In a big metropolitan city, purse snatchers and pick pockets watch for tourists looking up in the sky
at the tops of big buildings as these folks make easy pickings to rob.

Right now, trend not withstanding ( and one CANNOT ignore the overall trend) so many people are
looking up at the top of the skyscraper to see how tall it really is and ignoring any possible
holes in the street (some of them huge) and paying no mind to addresses below the 14000 block of Euro Boulevard.

In a case as this, once again keeping the price action and trend of recent days in mind,
I would want off this bus until it had a chance to refuel and check the tire pressure.

What the hell, let's be bold. Back to 135 where it came from.
In fact, let's say 134 so we're even lower than where it started.

I'm on the sidelines right now, so it costs me very little to make such a prediction.
I would however start looking at this pair with heightened interest if the aforementioned senario
were to begin to take some shape. So far, we're all still staring at the 140th floor of this building.
Can you see that girl in the window ? Is she wearing a top ? Lemme know if you can see her tits.

I'm going to get the binoculars.....and maybe a hot dog with mustard.
  • #99,888
  • May 24, 2009 2:05pm May 24, 2009 2:05pm
Quoting notch
It's impossible to get away with the slightest slip in this thread!
Well it is so easy to tell well written commentary from the usual FF talk. See it all the time.
  • #99,889
  • May 24, 2009 2:10pm May 24, 2009 2:10pm
Quoting toshi
How 'bout this:


I'm on the sidelines right now, so it costs me very little to make such a prediction.
I would however start looking at this pair with heightened interest if the aforementioned senario
were to begin to take some shape. So far, we're all still staring at the 140th floor of this building.
Can you see that girl in the window ? Is she wearing a top ? Lemme know if you can see her tits.

I'm going to get the binoculars.....and maybe a hot dog with mustard.

LMAO
  • #99,890
  • May 24, 2009 2:19pm May 24, 2009 2:19pm
Quoting toshi
How 'bout this:

I'm on the sidelines right now, so it costs me very little to make such a prediction.
I would however start looking at this pair with heightened interest if the aforementioned senario
were to begin to take some shape. So far, we're all still staring at the 140th floor of this building.
Can you see that girl in the window ? Is she wearing a top ? Lemme know if you can see her tits.

I'm going to get the binoculars.....and maybe a hot dog with mustard.
You put it in a very nice way.
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New voice message: Why are you calling me? If I need you, I'll call you!
  • #99,891
  • May 24, 2009 2:21pm May 24, 2009 2:21pm
Quoting KillerWhale
You put it in a very nice way.
That one delicious looking doji!
  • #99,892
  • May 24, 2009 2:27pm May 24, 2009 2:27pm
Quoting notch
That one delicious looking doji!
Don't you love it? the open 1.4002, low 1.4002, close 1.4003
New voice message: Why are you calling me? If I need you, I'll call you!
  • #99,893
  • May 24, 2009 2:44pm May 24, 2009 2:44pm
WAAAAAAAAAAAAAAAAAAAAA

Oanda is 10 pips down from Friday
New voice message: Why are you calling me? If I need you, I'll call you!
  • #99,894
  • May 24, 2009 2:45pm May 24, 2009 2:45pm
Quoting KillerWhale
WAAAAAAAAAAAAAAAAAAAAA

Oanda is 10 pips down from Friday
Let the storm commence!!!
  • #99,895
  • May 24, 2009 3:00pm May 24, 2009 3:00pm
Quoting KillerWhale
WAAAAAAAAAAAAAAAAAAAAA

Oanda is 10 pips down from Friday
Now Oanda is 10 pips up from Friday !

Now you're really in deep shit ! What Now !

The only logical thing to do is...........................

SELL THE POUND !!!

WHAT ????
  • #99,896
  • May 24, 2009 3:04pm May 24, 2009 3:04pm
Quoting toshi
Now Oanda is 10 pips up from Friday !

Now you're really in deep shit ! What Now !
The mega-gap has been filled!
  • #99,897
  • May 24, 2009 3:05pm May 24, 2009 3:05pm
Quoting Hell7
The mega-gap has been filled!
lol
  • #99,898
  • May 24, 2009 3:05pm May 24, 2009 3:05pm
I have a long position held over from Friday, from around .4000 targeting .4040. All say looks ripe for a retrace, but would the Kiwis & the Aussies initiate it? I reasoned not. In profit now, I will bank some and lock in the rest to let ride. It might take a while to slow this train down.

btw, there was no GAP from Oanda.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #99,899
  • May 24, 2009 3:06pm May 24, 2009 3:06pm
Quoting The Fool

btw, there was no GAP from Oanda.

oh, thank GOD !
  • #99,900
  • May 24, 2009 3:23pm May 24, 2009 3:23pm
Quoting KillerWhale
WAAAAAAAAAAAAAAAAAAAAA

Oanda is 10 pips down from Friday

Oh no ! Oanda is up 20 pips from Friday and the mkt's not even open yet !

I guess it's time for shorts to take out a second mortgage. I'm going to hide before the world ends.

Don't light any matches. (because I farted)
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