EURUSD

Bought at 1.3698... targeting 1.3736

My guess is we'll be slowly going down respecting this downward channel...otherwise when market volume decreases we could see price ranging between PP @3708 and 3670-3680 area till assian sesssion.
Complicated day for trading, asi there's no sure short term trade I've been taking profit targeting 10-15 pips.
Already close shorts and out of the market. Bounce form PP will see me shorting again targeting 3680 area.
Good luck my dear fellows!

you said something like this this morning as well, and the 200 pips you were assured of were miraculously divided by 5 but 40 pips is better than nothing i guess...

On the daily time frame the downward motion is far from over.

On the H4 chart you can label the drop from 5145 as a 1,2,3,4,5.. or ABC (I have chosen ABC), but one thing is certain that when a trend change happens you have a strong break of the A/B or 2/4 trendline. Well there is no strong break yet, so that means we are still not yet done.

Anyway that you want to choose to put a elliot count on the drop from 5145, you still have missing waves, that means more unfolding is going to take place within the region of 4000-3500, but overall the daily trend remains downward

One of the important patterns that denote the termination of a trend is 5 waves of a triangular shape (expanding or contracting, but 90% of the time contracting), at the end of a formation.

We dont see a triangle at the bottom from the drop at 4020.

So whats happening now, well: We will be stuck in this region and slowly migrate to the red trendline through numerous corrections, and it looks like we will be stuck in this region for quite a while over the next couple of weeks. As far as trading is concerned its far better to go for sells than buys

The good news is that because this zone is highly corrective, expect 85% and 90% retracement levels (specially if its a complex flat formation). So if you couldnt get up at 3:30 AM EST for the beginning of the EUR session where the big moves get initiated, dont worry, there is going to be a 80-90% retracement happening soon, where you can go for another sell

Also dont tell yourself that a trend change is going to happen, there is still lots of time left. After all we have to see a strong spike upwards that will break the A/B line, and since there is no spike, there is no trend change.

You can expect a maximum retracement level right now to 3968-4000, we will have to see for that. So far its stuck at the 23.6% fibonacci of the drop from 4020, and its proving to be a tough level to penetrate. If we continue to fall in the corrective zone that I have mentioned, it would be tough to see 4000.

Be aware that you can also have a expanding triangle for this environment as well, so as soon as a new high is seen, dont get excited and go for a buy, because it could be another dangerous leg of a expanding triangle. Best trades are when you notice that its overbought and you go for a sell.

Good Luck With This Information

watch lower wave 4 at 1.3660

this is where I am watching for long

preet wrote:

could have

but i do remember having posted this 11 hours ago

i agree with u..my charts show the same thing..

guys if you get bored from eur/usd you might check usd/jpy.
it looks to me like a downtrend it forming.

I hope you are right

Hey can you give me that indicator that you have at the right side where it shows MACD and fpr example now it's all in red. can you give it please???

That may put a damper on all the bounce talk. He likes it at 1.30 to 1.25.

http://www.bloomberg.com/avp/avp.htm...YyGwhsriik.asf

Please just make sure to trade by your own rules.

morning.. hell of a nap.. whats old is new again. i slept like a baby.

Does anyone know how to attach a picture in a Private Message

jobama is talking....watch for tanking

Serious Battle here @ 1.3690 area

upload to image shack...

in an ideal world euro goes back to 1.4000 , es to 1130 , gold to 1180 and then sell it all ..

come back at end of year

Morning Gator... is the sleeping giant going to wake.....Papa Bear....I think so...

Tks