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EURUSD

  • #173,661
  • Dec 17, 2009 11:38am Dec 17, 2009 11:38am
Im loading short positions ready to scalp the action down some more.
The greatest force on earth is compound interest.
  • #173,662
  • Dec 17, 2009 11:42am Dec 17, 2009 11:42am
--Good Judgement comes from Experience and Experience comes from Bad Judgement--

ya mean like...
---Failure is the cost of success...---???
  • #173,663
  • Dec 17, 2009 11:45am Dec 17, 2009 11:45am
some expected movement as i checking after 1 hr but not enough to close my shorts .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #173,664
  • Dec 17, 2009 11:46am Dec 17, 2009 11:46am
Quoting Pip Pride
Great Chart showing 1.43 is definitely an area to expect resistance, but I'm not sure if its a signal to go long just yet.

Cheers for the 'heads up' I have a short from 1.45, but will watch PA around this level closely now.

Good luck with it anyway.
If you count waves from the smaller time frames up the patterns will often be distorted and most likely wrong. You need to start on the monthly chart first then go down to the smaller time frames. This chart explains how to acheive proper wave counts. It shows an alternate price projection (fibonacci expansion) for the wave 3 down trend on the monthly chart, for the EUR/USD. The wave count for constin's chart is also wrong. Here is the proper way to count the current wave 3 for the down trend:
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  • #173,665
  • Dec 17, 2009 11:47am Dec 17, 2009 11:47am
That's correct! There is always a price for anything you want.....the question is not how much you can afford but how much are you willing to pay!
  • #173,666
  • Dec 17, 2009 11:47am Dec 17, 2009 11:47am
a morning star forming on 30m?
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  • #173,667
  • Dec 17, 2009 11:53am Dec 17, 2009 11:53am
Seems the Yen can't figure out where to buy $ strength or not.
  • #173,668
  • Dec 17, 2009 11:54am Dec 17, 2009 11:54am
missed the boat today but will short again when it hits the near downward trendlines.... knowing my luck it wont hold but we'll see
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  • #173,669
  • Dec 17, 2009 11:55am Dec 17, 2009 11:55am
Quoting jiva34
a morning star forming on 30m?
What is it mean "morning star" ?
  • #173,670
  • Dec 17, 2009 11:55am Dec 17, 2009 11:55am
After Hitting Down Chanel Looking EU to Move Up....
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  • #173,671
  • Dec 17, 2009 11:56am Dec 17, 2009 11:56am
Quoting Why Oh Why
As opposed to clicking attachment you click Insert Image as in the example below. Unfortunately, you need to upload it to your own hosting as it needs a URL. The image below was uploaded as an attachment earlier to FF but if you did it that way you get the attachment posted and then you'd have to copy the URL so it would post the image twice. As I've just done. Your own hosting gets round that.

http://www.forexfactory.com/attachme...3&d=1261041147




Thanx for the info.......it was quite helpful.
  • #173,672
  • Dec 17, 2009 11:57am Dec 17, 2009 11:57am
Quoting bolek
What is it mean "morning star" ?
usually a bullish sign
there are patterns that traders use
candlesticks have lots of different patterns.
morning star is one.
  • #173,673
  • Dec 17, 2009 12:00pm Dec 17, 2009 12:00pm
Quoting bolek
What is it mean "morning star" ?
I suggest you read this book.it'll help you a lot! Good luck!

Nison, Steve - Japanese Candlestick Charting Techniques
  • #173,674
  • Dec 17, 2009 12:02pm Dec 17, 2009 12:02pm
You guys do expect the trend to continue downwards though?
The greatest force on earth is compound interest.
  • #173,675
  • Dec 17, 2009 12:04pm Dec 17, 2009 12:04pm
Quoting sebastionay
You guys do expect the trend to continue downwards though?
after a 200 pip move it may need a drink of water
  • #173,676
  • Dec 17, 2009 12:08pm Dec 17, 2009 12:08pm
Quoting pipul8r
after a 200 pip move it may need a drink of water
I hope this does not start to range because it does not really know what direction to take right now. Did not even touch 1.4300 but may be a setup.
They think they are smarter than I am.
  • #173,677
  • Dec 17, 2009 12:08pm Dec 17, 2009 12:08pm
Quoting QuickSilver
When you check the monthly TF you can see that EUR/USD have been up since 2002. Some people maybe buying when others are selling. It all depends on the TF your on.

I just opened a long on EUR/USD at 1.4356 expecting to TP at 1.4420 up!
Your logic here is wrong, although I believe it is well intended. You most definitely need to be looking at the higher times frames first for the proper signals to interpret the trend. The figures from 2002 you mentioned do not necessarily interpret as an uptrend for the current price movement. If I were to concede anything to your point, it would be that the current price movement on the monthly is an ABC correction to the uptrend since 2002. However even if this is the case, you are still looking at a wave c, which in essence will corresponds with wave 3. You are still seeing a down trend here, although I do not believe this is a wave c, but rather a much longer wave 3.
  • #173,678
  • Edited 12:10pm Dec 17, 2009 12:09pm | Edited 12:10pm
Quoting TaoTrader
If you count waves from the smaller time frames up the patterns will often be distorted and most likely wrong. You need to start on the monthly chart first then go down to the smaller time frames. This chart explains how to acheive proper wave counts. It shows an alternate price projection (fibonacci expansion) for the wave 3 down trend on the monthly chart, for the EUR/USD. The wave count for constin's chart is also wrong. Here is the proper way to count the current wave 3 for the down trend:

Thank you for your good advice. I have to admit I only have an outline understanding of Elliot Wave Theory and would not be able to interprit Waves with any real confidence. I must say though, I did like Constin's 4hr Fibs, where he used 1 Swing High and 2 Swing Lows to identify a possible Long. Its a technique I've seen other traders use to identify confluence. As I said I don't think its confirmation of a long but definitely 'one to watch'.

I'm certainly intrigued by your chart/ (and Fib technique) and looking forward to seeing and learning more.

Regards
  • #173,679
  • Dec 17, 2009 12:09pm Dec 17, 2009 12:09pm
200 pip rise? I don't think so
The greatest force on earth is compound interest.
  • #173,680
  • Dec 17, 2009 12:13pm Dec 17, 2009 12:13pm
Quoting matheszabi
You didn't help me with anythig, anybody else?
Hi matheszabi,

ok, a little help for our newbies

Please remember, that the big Boy´s usually don´t use the Stock Market as we do.
They trade options !!!

And tomorrow is the 3 monthly Friday !!! The last one this Year !!!
And exactly this is the target since the end of November !!!
Clear so far ?

I think, the big boy´s will press the Euro as deep as they can to get the highest possible profit tomorrow!

So try to go long at 1.4150/SL 1.4050! It´s nearly the 38.2 Fib Zone since
06.3.2009!


So, good luck and trade well
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