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  • #274,801
  • Jul 24, 2010 2:52am Jul 24, 2010 2:52am
Seeing MM also , Daily tf price failed break & hold 5/8 MM top trading range before but failed to bo more deep towards 3/8 MM & back before major SR 4/8MM to test back top trading range again . Break & hold this level at 1.2939 should signal eu as bullish daily level & other higher levels likely test 1.3005 & 1.3060 , 1.3121 & 1.3183 etc .
In h4 price break up & hold 1.3061 as 3/8mm bottom trading range to enter the trading range between 3/8-5/8 mm ,major sr being 1.3183 4/8mm.This major sr 1.3183 again being the 3/8MM as the lowest trading range level in weekly , price break & hold should range above this level.

In H1 price being failed at ultimate sr 8/8mm fall deep down to the lowest trading range 3/8mm & back now again over the 5/8 top trading range , just below 8/8 mm again to test as now bullish in nature to test 1.2938 & break & hold should overshoot to the top.

Anyway 2939 is seems most cretical level to break & hold & if further fail at this level should send eu at trading range 2847-2786 at least or more down before next try up or very good failure if consider daily then towards 1.2512 to 1.2451 who knows .

and if major sr 1.3183 break & hold no stop so early .

so perhaps my previous vision with ew in line with mm .
fontu
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #274,802
  • Jul 24, 2010 3:11am Jul 24, 2010 3:11am
Quoting fontu
Seeing MM also , Daily tf price failed break & hold 5/8 MM top trading range before but failed to bo more deep towards 3/8 MM & back before major SR 4/8MM to test back top trading range again . Break & hold this level at 1.2939 should signal eu as bullish daily level & other higher levels likely test 1.3005 & 1.3060 , 1.3121 & 1.3183 etc .
In h4 price break up & hold 1.3061 as 3/8mm bottom trading range to enter the trading range between 3/8-5/8 mm ,major sr being 1.3183 4/8mm.This major sr[color=red][b]...
One day will try MM,Thanks for good view bro
U said 1.2939 , Depends on the way i use i say 1.2970 so we r almost in Agreement
Egkid
  • #274,803
  • Jul 24, 2010 3:55am Jul 24, 2010 3:55am
Quoting fontu
Seeing MM also , Daily tf price failed break & hold 5/8 MM top trading range before but failed to bo more deep towards 3/8 MM & back before major SR 4/8MM to test back top trading range again . Break & hold this level at 1.2939 should signal eu as bullish daily level & other higher levels likely test 1.3005 & 1.3060 , 1.3121 & 1.3183 etc .
In h4 price break up & hold 1.3061 as 3/8mm bottom trading range to enter the trading range between 3/8-5/8 mm ,major sr being 1.3183 4/8mm.This major sr[color=red][b]...

I agree with ur MM analysis Fontu,very good...According to h4 and MM geometry pattern price may come to 3183. Also 2939 is a good R point. Overshoot is @ 3000 exactly( +2 MM line ), we need to pass 2970, as I have stated earlier 2960-2970 are reversal points.
  • #274,804
  • Jul 24, 2010 3:56am Jul 24, 2010 3:56am
Quoting egkid
One day will try MM,Thanks for good view bro
U said 1.2939 , Depends on the way i use i say 1.2970 so we r almost in Agreement
Egkid
2939 and 2970 are both potential reversal points as they are hard R(esistance) points
  • #274,805
  • Edited 4:20am Jul 24, 2010 4:07am | Edited 4:20am
Quoting pip_daddy
LOL......what do you think?! My guess is his IP comes from Nigeria.
I have plenty of clients from Nigeria and Ghana,... they are very entrepreneurial. One just has to filter out the scammers... and scammers are always the ones who ask for 45 USD a piece, when he can actually make 1000 USD himself using that piece. lol

Here is my suggestion for this man selling not just national news, but Inter-national and Inter-Continental Global News like EU Stress Report on Internet Forum for 45 USD and btw it should be noted that he/she was selling it 3 hours before it is released to our holy world:

http://hitthathigh.blogspot.com/
  • #274,806
  • Jul 24, 2010 4:25am Jul 24, 2010 4:25am
Quoting T@rantula
2939 and 2970 are both potential reversal points as they are hard R(esistance) points
Yes , and in mm the price not react exactly at lines of levels, little different when see much lower tf and so break & hold levels used for general purpose , either success enter a range or failed doing so .simply break & next back below not enough.that is why 2939 is important to hold to decide if wants to overshoot next or fail ( not hold ) to dive down further .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #274,807
  • Jul 24, 2010 5:46am Jul 24, 2010 5:46am
Quoting fontu
Yes , and in mm the price not react exactly at lines of levels, little different when see much lower tf and so break & hold levels used for general purpose , either success enter a range or failed doing so .simply break & next back below not enough.that is why 2939 is important to hold to decide if wants to overshoot next or fail ( not hold ) to dive down further .
fontu
Yep since I have been studying about MM, there are many geometric patterns that go through various MM levels. I need to consult higher TFs as I enter on M15 and always watch higher TFs. I also made my Black Widow ™ filter false entries as much as possible
  • #274,808
  • Jul 24, 2010 8:36am Jul 24, 2010 8:36am
US banks failure quicker in 2010
http://arabia.msn.com/News/economy/A...9.aspx?ref=rss

European governments relieved by bank stress tests:
'European governments face a nervous wait for markets to reopen on Monday to get the full global reaction'
'All have been ordered to recapitalise or take state aid.'
'
Although the tests were "a first step towards improved transparency," he said that they were "insufficient to bring about the rapid and major improvement in confidence in the European banking system which should have been the main goal of the exercise'
"The aggregate results of the tests show a high degree of resilience in the EU banking sector as a whole, reflecting the efforts undertaken over the last years by the banks and some governments to restore confidence in the European banking sector."

IMF managing director Dominique Strauss-Kahn said the tests were "a major undertaking and represent an important step toward improving transparency and bolstering market confidence."
"
The banks were also tested to see how well they would fare in the event the economy slumped back into recession.
The CEBS estimated that the total potential damage to balance sheets at the 91 banks -- which account for 65 percent of the European banking market -- would be 566 billion euros (727 billion dollars) over two years if certain tough conditions hit."

"Any positive impact on sentiment will be limited by the fact that the tests were not particularly stringent," said analyst Jennifer McKeown with consultants Capital Economics.
"The 'adverse' economic scenario incorporated a return to only a very mild recession next year."

Note : As thought & wrote myself without any knowledge of economy repeatedly that they are expecting more pronunced recession actually next & trying to reassure confidence financial sectors before such conditions , they also see the charts as well & know more in details when it will start dive very deep . so readying timely. we will wait for sure too , taking falling pips more easiler than flying.


http://arabia.msn.com/News/economy/A...y/2165694.aspx
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #274,809
  • Jul 24, 2010 8:58am Jul 24, 2010 8:58am
stress test fail or pass, all eurusd is up to cover-up this f*** up.

that it...
  • #274,810
  • Jul 24, 2010 9:25am Jul 24, 2010 9:25am
Quoting pip_daddy
Best of luck
Same to you especially the PM part.
  • #274,811
  • Jul 24, 2010 9:37am Jul 24, 2010 9:37am
Quoting Redeemed1
Yeah Greece passes...I think not. You KNOW one reason for Greeces crisis is they got caught badly lying about their numbers to the EU.
Also, there was a pre release in the last couple days that Ireland, Austria and SPAIN all passed too. We already know about Spain. EU has Hungary that wouldn't bother with test(they just flat out admit "we're screwed"), Ukraine, Italy, and even German banks in trouble.
The US does not go bad on debt (default). Instead the US will use inflation as their downfall.

YEAH!

I lpove you
  • #274,812
  • Jul 24, 2010 9:44am Jul 24, 2010 9:44am
Quoting fontu
US banks failure quicker in 2010
http://arabia.msn.com/News/economy/A...9.aspx?ref=rss

European governments relieved by bank stress tests:
'European governments face a nervous wait for markets to reopen on Monday to get the full global reaction'
'All have been ordered to recapitalise or take state aid.'
'
Although the tests were "a first step towards improved transparency," he said that they were "insufficient to bring about the rapid and major improvement in confidence in the European banking system which should...
Fontu, you know I love you but...

I got nothing from that post.. Can you make it simpler? what is the key message here?

cheers
  • #274,813
  • Jul 24, 2010 9:46am Jul 24, 2010 9:46am
The 2700 area was resistance.....and so far it is holding as support (short term).

There should be plenty of stops above the 61.8 (3000) level....so a move up to 3100ish and the monthly R3 is on the table which would also take us to the top extreme of the downward channel we have been trading in for months.

I'm a short term position trader...so unless conditions change dramatically sunday/early monday...I'll be looking for an opportunity to be long. However, I am not a euro bull and I think this move is just setting up the next down leg for the euro....
Attached Image (click to enlarge)
Click to Enlarge Name: EU.jpg Size: 195 KB
  • #274,814
  • Edited 10:29am Jul 24, 2010 10:14am | Edited 10:29am
Quoting Larseg
Fontu, you know I love you but...

I got nothing from that post.. Can you make it simpler? what is the key message here?

cheers
Sorry for that , they are just news read today that may effect next week & my comment also added .
pomp & show test euro zone just finished while they concern mostly to see if ready to stand their financial institutions /banks after more disaster if come next and hopefull so far . While US banks still failing rapidly , much more advanced in failing than euro zone but they proved much stability withstand any such.

So more eu bull in recent days before the failure & big fall next possible .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #274,815
  • Jul 24, 2010 10:18am Jul 24, 2010 10:18am
Quoting fontu
Seeing MM also , Daily tf price failed break & hold 5/8 MM top trading range before but failed to bo more deep towards 3/8 MM & back before major SR 4/8MM to test back top trading range again . Break & hold this level at 1.2939 should signal eu as bullish daily level & other higher levels likely test 1.3005 & 1.3060 , 1.3121 & 1.3183 etc .
In h4 price break up & hold 1.3061 as 3/8mm bottom trading range to enter the trading range between 3/8-5/8 mm ,major sr being 1.3183 4/8mm.This major sr[color=red][b]...
hey fontu, hope ur having a good weekend my friend.....1.3183 came up as a mentionable bear number for me as well in a few analysis methods I did this past week.
  • #274,816
  • Jul 24, 2010 10:19am Jul 24, 2010 10:19am
I think the stress tests ok ..... next week we will see 1.3 levels
  • #274,817
  • Jul 24, 2010 10:24am Jul 24, 2010 10:24am
Quoting pip_daddy
Nope, It will either bounce off 1.3 again.....or possibly as high as 1.31 then dive down to 1.13 over the next few weeks/months. Of course I could be wrong.
hey but, EURO has been rising for almost 6weeks straight with no correction or less correction, the highest hit for this month was 1303 and twice. I was hoping to see any correction soon which i have short on 1285. Any thoughts?
Logics do not apply in FOREX
  • #274,818
  • Jul 24, 2010 10:25am Jul 24, 2010 10:25am
Quoting fontu
US banks failure quicker in 2010
http://arabia.msn.com/News/economy/A...9.aspx?ref=rss

Note : As thought & wrote myself without any knowledge of economy repeatedly that they are expecting more pronunced recession actually next & trying to reassure confidence financial sectors before such conditions , they also see the charts as well & know more in details when it will start dive very deep . so readying timely. we will wait for sure too , taking falling pips more easiler than flying.


http://arabia.msn.com/News/economy/A...y/2165694.aspx...
so, is that mean, by stress-test, they just advertise limits for shorting, telling, we are ready to new dive, but not more than THAT, right?

Another thing -
I am not an ace in waves and would like that who know where now price are according to theory? Am I correct charting in such way (look at the blue circle, not others please)?
Attached Image (click to enlarge)
Click to Enlarge Name: scrn 2010-07-23 ? 19.17.53_.gif Size: 166 KB
No crystal ball. I read the cards.
  • #274,819
  • Jul 24, 2010 10:59am Jul 24, 2010 10:59am
Quoting intery
so, is that mean, by stress-test, they just advertise limits for shorting, telling, we are ready to new dive, but not more than THAT, right?

Another thing -
I am not an ace in waves and would like that who know where now price are according to theory? Am I correct charting in such way (look at the blue circle, not others please)?
Attachment
You know I'm posting that chart on the "Charts on Drugs" thread. LOL

http://www.forexfactory.com/showthread.php?t=185027
  • #274,820
  • Edited 11:48am Jul 24, 2010 11:01am | Edited 11:48am
Quoting intery
so, is that mean, by stress-test, they just advertise limits for shorting, telling, we are ready to new dive, but not more than THAT, right?

Another thing -
I am not an ace in waves and would like that who know where now price are according to theory? Am I correct charting in such way (look at the blue circle, not others please)?
Attachment
Thanks , yes ,I think so .
2nd part actually I also started count like this but when I see the 3rd wave smaller than wave 1 & even than 5 if count this way ,so discarded & rearrange waves as is still in wave 3 ,waiting last leg up to end III of 3 that as 5th failure ( not think though ) or extend or might be little different in wave 3 also . I am no expert in ew just use at times .
Thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
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