EURUSD

Wow, I always find I'm too drunk to work in the afternoon if I take that long for lunch...

Mate, it has even broken yearly pivot of 1.39xx some time back. The trend is down and i expect it to even break 1.30 to rest at 1.25.

EURO-DOLLAR: Pair rebounded to near $1.3570 currently after the euro
saw little follow-through after stops were gunned below $1.3550 ahead of
the US stock opening but, at writing, another lurch lower appears
underway as euro scratches out a fresh low. Mixed order talk sub $1.3540
emerges, some stops and bids mixed together.

Provided by: Market News International

Delicious lunch

SMA 200 Resistance AGAIN

The way bulls preventing daily close above 1.3646 ,bear may also do so make a new low ,just opposite to make the future clean !! one to fail before any.
fontu

I'm locking in some more profit on my short from 1.3681....HALLELUJAH, I love YOU $$$$$'sss

This has been an excellent day for me....Not that anyone of you care.

Anyways.

Happy PIPIN

guess my broker is after my SL , anybody feel the same about theirs ?

Fitch Ratings has today downgraded the Long-term and Short-term Issuer Default Ratings (IDR) of Greece's four largest banks, National Bank of Greece (NBG), Alpha Bank (Alpha), Efg Eurobank Ergasias (Eurobank) and Piraeus Bank (Piraeus) to 'BBB' from 'BBB+' and 'F3' from 'F2' respectively. The Outlook on the Long-term IDRs is Negative.


Fitch like always right on time

You should also plot a 100MA in your charts, you'll surprise! I love MA's!

Brother Moody is next

Carefull guys, news in 13 minutes!

The only places that I have found they talk about measuring the time that various waves took is in some elliot wave books such as "Mastering Elliot Waves By Glenn Neely" (Check it out at Amazon):

http://www.amazon.com/Mastering-Elli...6933725&sr=8-1

and few other places that I have visited on the web. Unfortunately the stuff on the web didnt impress me much, so I cant remember the website addresses that referred to something like this as a trading concept.

So what I did few years ago was that I started measuring the time that corrections took myself, and the idea was that if a certain correction has not had enough time elapsed from it, then its high or low is undetermined, and as a result any speculation you have on the price cannot be proven right until you are close to a relatively fair amount of time that has passed and then you can make a better judgement. I had read that in a lot of instances the amount of time that certain corrections such as a "Common Flat" correction takes time will somehow relate like this:

X=Time that wave A takes
Y=Time that wave B takes
Z=Time that Wave C takes.

The relationship is either

Y=X+Z / X=Y+Z / Z=X+Y
or X, Y and Z relate through a 0.618 or 0.382 fibonacci relationship to each other.

Well unfortuneately even what I read in the book didnt come close to what the market was doing, so I say about 40% of the time there is some kind of fibonacci relationship between waves, but most of the time its not that and there is some kind of a symmetrical or a sequential relation between waves. like for example you can have 5 waves that take their time in this sequene:

X,0.5X,X,X,0.4X

and there are other sequences as well.

I tried to do this just by jotting down numbers from measurements and dividing them to each other to find some kind of relationship, but the relations are far from fibonacci. I gave up on trying to find exact relationship, because as far as trading is concerned as long as you know the major direction and a rough approximation of a zone where trendlines intersect with time you can start planting your orders there and still be profitable.

Measuring of the time really helps you to avoid going in a trade when the timing is not right.

So yes, I regularly try to measure waves and make a judgement as to whether to allow more time for a correction to finish. It works very well in corrective markets, to tell you relatively when you should be starting to look for moves, and when not to waste your time on putting counts on waves. But when the impulse starts is no use, because it travels so far so fast that the relationship for the time ususally ends up to be a small fraction such as 0.1X or 0.15X.

So measurement of the time helps you in the following instances:

1. It can act as a early warning sign that you might be in a Elliot Wave contracting triangle, so check your trendlines to see whether you can find a triangle and be aware of which direction is the thrust. Timing often gets congested when you are in a triangle situation with a general observation of the fact that the amount of time that takes for waves to complete become less and less.

2. On the bigger scale, looking at the feel of the thrust and looking at the relative time that the surrounding waves are taking, you can make a judgement on the speed of the current move, which helps you eliminate certain elliot wave counts. This will help you make a very good judgement on the direction on the bigger time frames, which ultimately tell you which direction you should trade on the smaller time frmaes. Most of the time if you have a period of time that is fairly long and you dont see any motion that has taken about half that time or even 1/3 of that time, then if your current motion has a lot of steam it might be the one that its going to be the big surprise. You can only conclude this once the motion has travelled a further distance relative to its previous ones and the fibonacci levels get broken quite hard.

3. Overall it helps you to look for trade positions at the right moment, often the intersection of the time and trendlines are good spots to put orders in.

Unfortunately the EUR/USD didnt reach 3740 as I thought yesterday, but I had 2 pending orders at 3740 and one at 3690, which got hit. I dont wake up at 3 AM EST in such instances. If I would have been awake I would have gone with more lots at 3690, but oh well

So thats how I used the timing information yesterday

One thing you can do is to start measuring time, and noting that in most instances, you have either 2 or 3 groups of waves that fall very close to each other. So based on that observation you kind of can make a judgement that:

"Oh well it looks like the amount of time that this wave is taking has surpassed the other group, so let me keep my eyes on this other value that I think it will finish around"

and in most cases that approach helps you from going into a trade too early.

Again it works around 75% of the time, but its another tool in your box of analysis

Good Luck

big drop in February consumer cofidence

Time to say hello to 1.3500

And look @ EJ and UJ...they are taking a real beatdown ....lovely

time for a short term reversal?

-135 pips at e/j, stop is at 150, a love story

buy @3548 first target 3610

Too many buyers @ 1.3540... we need to wait the next candle in order to make a decision...hopefully all the buyers will get absorbed soon

the 1 h looks like a doji. up ?