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  • #288,521
  • Sep 3, 2010 5:32am Sep 3, 2010 5:32am
Quoting Xaron
Regarding the Euro I'm totally amazed that we are NOT above 1.30 already after the up adjustments by the ECB yesterday. Prepare for some kind of a huge up move, if not today then next week.

My target is still 1.35 till the end of this year and well above next year (with some USD strength within Q1 2011 due to new rate hike fantasies)
yes, it's surprising, but the nature of how it went up suggests to me that it won't be a clean trend. too many were long, and now only a few % on the short side.
  • #288,522
  • Sep 3, 2010 5:34am Sep 3, 2010 5:34am
Quoting DrLobo
This monthly chart looks almost the same as my daily chart

So in theory we could be in Wave 3 of a C wave ?

But one of the problems i have with this chart is that it looks like its an bearish impulse wave starts directly after a bullish impulse wave ?

How would you label the wave that happened before ?
that is what meant by fractal.....basis of chaos science.......dont read much into elliot science,only the count and hardrules are enough to flow with the waves, many have tried to make it into a science by putting fibs,etc.
grab the original book of elliot, Nature's Law -- The Secret of the Universe. i have a pdf.
it is an art ,technical analysis is a art,trend lines is a art.only economics is a science.
  • #288,523
  • Sep 3, 2010 5:45am Sep 3, 2010 5:45am
Quoting zaphy
I am taking the opposite side of that trade: long@ 1.2846 sl 1.283 tp ????
wish you good luck with your trade
  • #288,524
  • Sep 3, 2010 5:46am Sep 3, 2010 5:46am
ew agaim 1.2778 needs to hold for it to go up to 1.3 area 1.29 is the area to watch for an end of the bulls and usually wave 2 ends at wave 4 . key support 1.2740 below this expect it to go to 1.25
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  • #288,525
  • Sep 3, 2010 5:47am Sep 3, 2010 5:47am
Quoting Shah22
wish you good luck with your trade
It looks that I will need it, but then this is what happens when you don't check the monthly high before placing a trade.
  • #288,526
  • Sep 3, 2010 5:49am Sep 3, 2010 5:49am
Quoting walb99
Price can shoot up far more before going down.
I expect 2860 as minimum to be reached before down.
30 min and 1 hour resistance according to my calculation is on 2849..thats why i picked short at there.. my stop loss is 2868 which i dont think so that it will be hitted.. NFP ahead..anything can happened but my opinion is still bearish..lets see
  • #288,527
  • Sep 3, 2010 5:54am Sep 3, 2010 5:54am
I am off being a money slave.
I leave you with this.
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  • #288,528
  • Sep 3, 2010 5:57am Sep 3, 2010 5:57am
Quoting zaphy
It looks that I will need it, but then this is what happens when you don't check the monthly high before placing a trade.
Just because there's monthly high ahead, it doesn't mean PA is going to reverse. It's just possibility. Remember - there's always something ahead. Stick to your plan.
  • #288,529
  • Sep 3, 2010 5:59am Sep 3, 2010 5:59am
Quoting nawafasad1
ew agaim 1.2778 needs to hold for it to go up to 1.3 area 1.29 is the area to watch for an end of the bulls and usually wave 2 ends at wave 4 . key support 1.2740 below this expect it to go to 1.25
2720 my s/l trading MM
  • #288,530
  • Sep 3, 2010 6:00am Sep 3, 2010 6:00am
http://www.fxstreet.com/news/forex-n...9-9839d220c28c
  • #288,531
  • Sep 3, 2010 6:00am Sep 3, 2010 6:00am
thus far the markets looks bearish on eurusd, the set-up is completely the opposite to what it did last month which means it might down hill ski from here; hence took a little taster short at 2849 SL2859..
  • #288,532
  • Sep 3, 2010 6:02am Sep 3, 2010 6:02am
Pound is a little bit stirring things up, with better news i suppose pair would be much higher. Scalps before news between 1.2835 - 1.2855

Decline generated by GU will probably be filled the time NFP is released. One scenario.
They think they are smarter than I am.
  • #288,533
  • Sep 3, 2010 6:04am Sep 3, 2010 6:04am
Quoting T.E.Lawrence
Just because there's monthly high ahead, it doesn't mean PA is going to reverse. It's just possibility. Remember - there's always something ahead. Stick to your plan.
Well said..yes we must be to sticked with our plan..thats the key
  • #288,534
  • Sep 3, 2010 6:04am Sep 3, 2010 6:04am
Quoting hytham
http://www.fxstreet.com/news/forex-n...9-9839d220c28c
are they so sure about it? a decoy maybe, dont care about reuters poll, im trading my charts and only consult other experts charts
  • #288,535
  • Sep 3, 2010 6:12am Sep 3, 2010 6:12am
Quoting Shah22
Well said..yes we must be to sticked with our plan..thats the key
There is a story about Soros who agreed to invest into some business, went for a second dinner with the guy and then in the middle of the dinner backed out of it. Apparently, the key is not to stick to our preconceptions, recognise if the situation changed and act accordingly.
  • #288,536
  • Sep 3, 2010 6:14am Sep 3, 2010 6:14am
Quoting manojsai
that is what meant by fractal.....basis of chaos science.......dont read much into elliot science,only the count and hardrules are enough to flow with the waves, many have tried to make it into a science by putting fibs,etc.
grab the original book of elliot, Nature's Law -- The Secret of the Universe. i have a pdf.
it is an art ,technical analysis is a art,trend lines is a art.only economics is a science.

CARE to SHARE that pdf with us Sir ? i find these Kind of topics extremely interesting............
  • #288,537
  • Sep 3, 2010 6:18am Sep 3, 2010 6:18am
Quoting zaphy
There is a story about Soros who agreed to invest into some business, went for a second dinner with the guy and then in the middle of the dinner backed out of it. Apparently, the key is not to stick to our preconceptions, recognise if the situation changed and act accordingly.
according to me no one can guaranteed that in which direction market can go..and what will be the situation next.. everybody have some opinion..My sticked with the plan means must be to sticked with money management rule..where you take the profit it doesn't matter but where you cut the position in loss thats always matter...
  • #288,538
  • Sep 3, 2010 6:21am Sep 3, 2010 6:21am
Price is clearly in his upside momentum, once it cleared 1,2750 it showed bull strength, now once it'll clear 1,2880-1,2900, bears will be dead & buried & i'll buy all dips.
Below 1,2750 and i'll sell rallies.
COT: The precious data ignored
  • #288,539
  • Sep 3, 2010 6:24am Sep 3, 2010 6:24am
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  • #288,540
  • Sep 3, 2010 6:25am Sep 3, 2010 6:25am
for any who question ew this is only price related but there s more and that to go into time that wave takes related to others really its very powerful and it will give you strength in your trading
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