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  • #300,561
  • Oct 4, 2010 6:35pm Oct 4, 2010 6:35pm
Did anybody else see the descending triangle break on the M1 and M5 10 minutes ago? I like to play these if they reverse to the upside as a busted triangle.
  • #300,562
  • Oct 4, 2010 6:37pm Oct 4, 2010 6:37pm
Quoting bbakker


Check out these two great threads on order flow -

http://www.forexfactory.com/showthread.php?t=193795
http://www.forexfactory.com/showthread.php?t=229290
Muchos gracias, I was aware of Domino's but not SKFX's.
  • #300,563
  • Oct 4, 2010 6:38pm Oct 4, 2010 6:38pm
Oh boy the EUR headfake! Right at the 1.3666 level right now.
  • #300,564
  • Oct 4, 2010 6:41pm Oct 4, 2010 6:41pm
H1 is testing Kumo R/S while at H4 price is close to crossing Kijun sen. A breakout below would give additional downward momentum to around 1.36, supported also by MACD and RSI. I will have to wait for confirmation
Attached Image(s) (click to enlarge)
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  • #300,565
  • Oct 4, 2010 6:46pm Oct 4, 2010 6:46pm
3648, 36202, 3592 may also be a bump.. its better for bears if they are not.
those who can, do. those who cant, talk about those who can
  • #300,566
  • Oct 4, 2010 6:50pm Oct 4, 2010 6:50pm
Quoting ocmsrzr
Did anybody else see the descending triangle break on the M1 and M5 10 minutes ago? I like to play these if they reverse to the upside as a busted triangle.
yes, triangle in my eye generated pleasant feelings
  • #300,567
  • Oct 4, 2010 6:51pm Oct 4, 2010 6:51pm
Quoting adrian07
socialist healthcare - i hope you don't realy belive that.
Sorry I do. I'm not drinking Obamas Koolaid that tries do what the Europeans have already tried...and failed
  • #300,568
  • Oct 4, 2010 6:59pm Oct 4, 2010 6:59pm
Hi Gator,

what you think are the reasons for that go down? You think is only a retracement for overbought or you think the main trend to the upside is getting weaker? In your opinion will retest 3800 in the next days or it will be difficult???

Thanks

I.
  • #300,569
  • Oct 4, 2010 7:01pm Oct 4, 2010 7:01pm
Quoting kuroro001
I would not buy right here, for sure.
I'd buy around 1,3640 maybe. Last hourly candle ain't really friendly for longs.
New lows compared to the previous 3 indecisive candles, lower close, and close on it's low (H1), add to this higher volume, and down we go with higher probability than going up.

But it is almost london close...so nothing for me
I'm done with my short, good luck everybody
We are almost there, and based on the the recent price action, move towards 1,3640 is fast, i won't buy there for now.
First i need price to reach this target, once it done i'll see how it reacts there. But intraday target might be 1,3575 today.
It's too early to say though. But high probability.
COT: The precious data ignored
  • #300,570
  • Oct 4, 2010 7:01pm Oct 4, 2010 7:01pm
Holding short from 1.3760....for now.

Any ideas for nearest support levels?
"The trend is your friend, until the end."
  • #300,571
  • Oct 4, 2010 7:05pm Oct 4, 2010 7:05pm
Quoting techno79
A lot of europeans this weekend saying how great the Euro is and it's going to pop. While it's not too many pips from 4000, it doesn't seem to have the ability to go up much this week. Possibly after this week, but if it makes it I think it'll tap only.
On my charts we're into a no-go needs to breath zone is why(i have a set of bands that doesn't normally fail me too often, but like i said 4000 isn't far, so on a weekly chart it might not even be a nanometer and could hit though). plus what everyone else sees.

which stinks because I am torn if...
You'd think since open of the week I'd bank more pips. Going to assume the pop just now was stop hunting with such little volume.
  • #300,572
  • Oct 4, 2010 7:15pm Oct 4, 2010 7:15pm
tried to play a bounce off .3666 - be +2 then -5, then 6 winners all +2 to +7, net gain about +3% and that's enough for Tokyo
Attached Image (click to enlarge)
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #300,573
  • Oct 4, 2010 7:31pm Oct 4, 2010 7:31pm
Quoting kuroro001
We are almost there, and based on the the recent price action, move towards 1,3640 is fast, i won't buy there for now.
First i need price to reach this target, once it done i'll see how it reacts there. But intraday target might be 1,3575 today.
It's too early to say though. But high probability.
1.3630 is ds1 could be good for entry long
  • #300,574
  • Oct 4, 2010 7:38pm Oct 4, 2010 7:38pm
Quoting nawafasad1
1.3630 is ds1 could be good for entry long
Will you buy here ?
I can't see any significant bounce to buy. Same for yesterday i didn't see any bounce. Maybe a downside momentum is under construction
I guess i won't buy it yet, we are in the asian session, i'll wait Frankfurt at least.
COT: The precious data ignored
  • #300,575
  • Oct 4, 2010 7:41pm Oct 4, 2010 7:41pm
Quoting ibicuy
Hi Gator,

what you think are the reasons for that go down? You think is only a retracement for overbought or you think the main trend to the upside is getting weaker? In your opinion will retest 3800 in the next days or it will be difficult???

Thanks

I.
i dont know if it will or not. i got some indications it will. possibly resume lower trend. i just don't have a bunch of things pointing that way. i like 3 plus indications to go out on a limb. lots of things point north also..
those who can, do. those who cant, talk about those who can
  • #300,576
  • Oct 4, 2010 7:44pm Oct 4, 2010 7:44pm
Quoting kuroro001
Will you buy here ?
I can't see any significant bounce to buy. Same for yesterday i didn't see any bounce. Maybe a downside momentum is under construction
I guess i won't buy it yet, we are in the asian session, i'll wait Frankfurt at least.
i ll sell it to go to 1.2630 with 15 pipsl and i ll buy it if it gets there
  • #300,577
  • Oct 4, 2010 7:46pm Oct 4, 2010 7:46pm
3668/69/71 could be a top..st
those who can, do. those who cant, talk about those who can
  • #300,578
  • Oct 4, 2010 7:46pm Oct 4, 2010 7:46pm
currently bouncing off weekly pivot. RBA decision will probably weight on this pair. 3550 is downside risk, 3805 upside risk.
Attached Image (click to enlarge)
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  • #300,579
  • Oct 4, 2010 7:52pm Oct 4, 2010 7:52pm
thanks Gator....


Goodnight everybody.....


I.
  • #300,580
  • Oct 4, 2010 7:56pm Oct 4, 2010 7:56pm
Hello folks,

this evening I received a letter from Forex Factory which was entitled "Infraction Received".

I don't know what the problem is. Maybe they don't like it, when I post my blog address here.

I sent them an email, but as of now I did not get a response.

It is a little bit a pity, because the interest on the Elliott Wave counts was/is great. I had over 500 page views per day here from Forex Factory.

Until they allow me to post my blog address again here, I will only tell you, that I have updated the chart.

If you have problems to find my address, google Infinitus + Elliott Wave


Charts are updated right now with an alternative count, which allows EURUSD to drop immediately into its wave 3.

Count looks very good, so that I will treat this count now as my primary count.

Why this new count?


I felt the need for a count that would the stock-markets allow to drop without further procrastination. Indices of stock.markets look ready to drop hard.

On the other hand take the sentiment data regarding EURUSD: we now have around 97% Euro bulls. This side of the trade is pretty crowded.

Yes, there is a descent chance that we will see a new high (which would invalidate this count.

But I think, that this count fits better in the actual context.


Have a nice and profitable night,


Markus
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