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  • #288,801
  • Sep 4, 2010 10:49am Sep 4, 2010 10:49am
With bank holiday coming I have the feeling they'll push it up more towards the 1.2920~30 area and from there a meaningful correction. The only thing what worries me is that the numnuts will buy high yielding currencies throughout the week. So with the correction i will stand aside for a bit.
Attached Image (click to enlarge)
Click to Enlarge Name: EU-1hr.jpg Size: 111 KB
  • #288,802
  • Sep 4, 2010 10:50am Sep 4, 2010 10:50am
Quoting mygoldenpips
aiming to break my best personal record..
this monday will be my last day trade before i take a little rest for 2 week..
but this monday i aiming to break my personal record..
will targeting from capital 200usd go 4000usd in 24hour
i know i can achieve it..just pray for there market to move..
dont care goes up or down..but praying EU,GU,AUD,UCAD,NUD,UJ and UCAF to move with high volume...

Good luck to u m8...watch the resistance forming up at the Mon day open
  • #288,803
  • Sep 4, 2010 10:53am Sep 4, 2010 10:53am
Quoting frankkn
Good luck bank holiday
yup..
i noticed it...
but will try my best..
good luck to u to..
wish green pips all there way...
Revesal Trader
  • #288,804
  • Sep 4, 2010 11:49am Sep 4, 2010 11:49am
This coming week, I think we'll go up to 1.3195. Monday I think well go up to 2995 Tuesday Might see some spikes up to 3100 But close back at 3000 Wednesday Looks flat Thursday Up to 3195 and Friday thu/fri? Look for lower trend line break and down to 1.3000 Next Monday down to 2920 There's no chicken bones like Voodoo chicken bones aiiiiight.
Founder of Sutherland Wave Principle
  • #288,805
  • Sep 4, 2010 12:24pm Sep 4, 2010 12:24pm
Quoting suthmo
This coming week, I think we'll go up to 1.3195. Monday I think well go up to 2995 Tuesday Might see some spikes up to 3100 But close back at 3000 Wednesday Looks flat Thursday Up to 3195 and Friday thu/fri? Look for lower trend line break and down to 1.3000 Next Monday down to 2920 There's no chicken bones like Voodoo chicken bones aiiiiight.
Your still using chicken bones???????? Do they have Fib levels or pivots on them?
LETS SEE Whats the trend?
THEN Is there a break in that trend?
Throw the bones "MAGIC"
  • #288,806
  • Sep 4, 2010 12:26pm Sep 4, 2010 12:26pm
Quoting Naseri13
I hope for you too recover your losts soon .

Thanks! I hope so too! I think I'm going to take a break for a week or so and come back more prepared!
  • #288,807
  • Sep 4, 2010 12:28pm Sep 4, 2010 12:28pm
Quoting suthmo
This coming week, I think we'll go up to 1.3195. Monday I think well go up to 2995 Tuesday Might see some spikes up to 3100 But close back at 3000 Wednesday Looks flat Thursday Up to 3195 and Friday thu/fri? Look for lower trend line break and down to 1.3000 Next Monday down to 2920 There's no chicken bones like Voodoo chicken bones aiiiiight.
Any charts to back up this prediction?
  • #288,808
  • Sep 4, 2010 12:30pm Sep 4, 2010 12:30pm
Quoting Morelands
1st chart is the daily. It shows the wave count I have for Eliott wave. We put in the low of wave B around the 1.26. I believe we have just completed the 1st wave of the large C wave up. I posted earlier, post 288077, on page 19206, where wave 5 would be completed. Basically it said that wave 5 would be finished at approx 1.29 for several reasons: the 200 SMA on the 4 hr and previous resistance in mid Aug, both of these can be seen on the 2nd chart which is the 4 hr. The 3rd reason wave 5 would be completed at the 1.29 level is noted on the 3rd...

I don't look in on the forums much anymore, but I'm glad to see some still post charts. I was also interested in your Elliot count. Interesting---- Good luck.
  • #288,809
  • Sep 4, 2010 1:19pm Sep 4, 2010 1:19pm
maybe someone will be interested in this article about the nfp

http://jessescrossroadscafe.blogspot...C3%A9ricain%29
Pecunia non olet
  • #288,810
  • Sep 4, 2010 1:31pm Sep 4, 2010 1:31pm
Quoting Morelands
1st chart is the daily. It shows the wave count I have for Eliott wave. We put in the low of wave B around the 1.26. I believe we have just completed the 1st wave of the large C wave up. I posted earlier, post 288077, on page 19206, where wave 5 would be completed. Basically it said that wave 5 would be finished at approx 1.29 for several reasons: the 200 SMA on the 4 hr and previous resistance in mid Aug, both of these can be seen on the 2nd chart which is the 4 hr. The 3rd reason wave 5 would be completed at the 1.29 level is noted on the 3rd...
Keep the good work , C U @ My next stop
http://www.forexfactory.com/showpost...stcount=288052
  • #288,811
  • Edited 4:29pm Sep 4, 2010 2:20pm | Edited 4:29pm
Here is what the PA did when we came from the bottom trying to break 1.3000

so expect some sea saw action for next few days until we finally break 1.3100. For those who are holding shorts in Negative after NFP Price reversed at 1.2925 but only to reach low of 1.2885, a more meaningful correction was seen after touching 1.3027

I will definitely buy at the 1.2730/50 area for a long term trade, but it might take a 3-4 days to get there, as I expect USDX to bounce temporarily from current level 82.00 as it has been going down for past 4 sessions. Below chart is H4. Sell at 1.3000+
GL trading!
Attached Image
  • #288,812
  • Sep 4, 2010 4:15pm Sep 4, 2010 4:15pm
Well,In my Idea eurusd is being supported by audusd. The minute audusd takes a hit you will see eurusd experience a free fall. Shorting rallies in the current setup is what I did and think is the right thing to do.
I missed my image upload center,
I will post the chart soon.
A little beginner trader since 2006
  • #288,813
  • Sep 4, 2010 4:16pm Sep 4, 2010 4:16pm
I wouldn't look for shorts anytime soon.

USDX (US index) is short. Anticipate a reversal near 81.00 - bottom of BB. Even then price may continue short.

EURUSD (bottom right chart) playing off the USDX short by continuing to climb higher. 1.30+ may be the reversal level.

I would go into next week with LONGS in mind until a USDX has reached 81.00.

Attached Image (click to enlarge)
Click to Enlarge Name: 94euusdindex.PNG Size: 139 KB
  • #288,814
  • Sep 4, 2010 4:20pm Sep 4, 2010 4:20pm
Quoting Jhig
I wouldn't look for shorts anytime soon.
I would go into next week with LONGS in mind until a USDX has reached 81.00.

Attachment
Maybe you are right !~
I should check the USDX too
A little beginner trader since 2006
  • #288,815
  • Sep 4, 2010 4:38pm Sep 4, 2010 4:38pm
Quoting Naseri13
Well,In my Idea eurusd is being supported by audusd.
This is like saying white men can't jump because they don't have the right shoes.

I will think of a better analogy after I wake up...probably tomorrow.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #288,816
  • Sep 4, 2010 4:51pm Sep 4, 2010 4:51pm
Quoting redsword11
Attachment

Attachment



possible outcome with regards to the dollar and EU has a corrective wave

Attached Image (click to enlarge)
Click to Enlarge Name: ex.jpg Size: 84 KB




already ahead of the game...........


Red
  • #288,817
  • Sep 4, 2010 8:21pm Sep 4, 2010 8:21pm

Bernanke issues the warning: This year, US public debt could reach end game




Federal Reserve Chairman Bernanke issues the warning. Asian nations, China and India first, are no longer willing to purchase securities issued by the US Treasury, which this year has about US$ two trillion short-term debt to refinance. Beijing is buying gold instead.

Milan (AsiaNews) – For at least four years, AsiaNews has sounded the alarm bells against the risks due to the huge size reached by speculative finance[1]. In 2008, we said that the attempt to save US banks could push the US debt beyond the point of solvency (see Maurizio d’Orlando, “US debt approaches insolvency . . .,” in AsiaNews 19 December 2008) [2]. Back them it could appear a bit overblown, but now even US Federal Reserve Chairman Ben S Bernanke is warning the US Congress about the danger. In a statement before the House Financial Services Committee,[3] he said that the US public debt might no longer be sustainable very soon. Financial jargon aside, the subtitle of an article by The Washington Times—Stage is set in U.S. for a Greek tragedy—says it all. Interviewed for the article, Bernanke says the United States is likely to face a debt crisis like the one in Greece sooner than later, “not something that is 10 years away”.
In 2008, the size of the debt was such that it was quite clear that it was not sustainable. Now we have a timeframe to measure the likelihood of insolvency for the US public debt, and it is this year. The reason for that is described in an article whose title needs no explanation: “The bankruptcy of the United States is now certain”.[4]

The abyss of debt

By the end of 2010, the US Treasury will have to refinance US$ 2 trillion in short-term debt, plus additional deficit spending for this year, estimated to be around US$ 1.5 trillion (US$ 1.6 trillion today two months after the original article was published). Together, the US Treasury will need to borrow US$ 3.5 trillion (US$ 3.6 according to this writer) in just one year.

In 1999, two well-known economists—Alan Greenspan and Pablo Guidotti—published a formula in an academic paper. Kept secret for a long time, it is designed to predict with precision when a country’s public debt will lead it to be insolvent. Called the Greenspan-Guidotti rule, it says that to avoid a default, countries should maintain hard currency reserves equal to at least 100 per cent of their short-term foreign debt maturities.
http://www.asianews.it/news-en/This-...ame-17781.html
  • #288,818
  • Sep 4, 2010 8:34pm Sep 4, 2010 8:34pm
Quoting Jhig
I wouldn't look for shorts anytime soon.

USDX (US index) is short. Anticipate a reversal near 81.00 - bottom of BB. Even then price may continue short.

EURUSD (bottom right chart) playing off the USDX short by continuing to climb higher. 1.30+ may be the reversal level.

I would go into next week with LONGS in mind until a USDX has reached 81.00.

Attachment

Good to see you back Jhig. You been out of action for a lil while mate?
  • #288,819
  • Sep 4, 2010 8:38pm Sep 4, 2010 8:38pm
Quoting tamster
Federal Reserve Chairman Bernanke issues the warning. Asian nations, China and India first, are no longer willing to purchase securities issued by the US Treasury, which this year has about US$ two trillion short-term debt to refinance. Beijing is buying gold instead.
US treasury auctions have been brisk. It is a good idea to keep the absolute hogwash posted on the weekends here, instead of during the week, when most just want to know how they can make a pip. So thanks for that.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #288,820
  • Sep 4, 2010 9:11pm Sep 4, 2010 9:11pm
Quoting The Fool
US treasury auctions have been brisk. It is a good idea to keep the absolute hogwash posted on the weekends here, instead of during the week, when most just want to know how they can make a pip. So thanks for that.

Fool - Is that article bogus?
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