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  • #347,201
  • Dec 16, 2010 9:15am Dec 16, 2010 9:15am
Hello everybody,

I think that I have to change my Elliott wave main count. This morning I mentioned it already, that I had a count, where wave orange 4 could have concluded already.

This afternoon I found a reasonable way to count that move. (see picture on my blog)

At this point I can not say, if the blue wave 4 has concluded too now, but price is dropping hard right now. Maybe we get a big flat, where this leg down is the B wave.

But my gut says: wave blue 4 has concluded.

More later......
  • #347,202
  • Dec 16, 2010 9:15am Dec 16, 2010 9:15am
Quoting Mr Hatch
you think, it will bounce around 3169? or respect 3189/81?
If it ever bounces off 1,3180-85...it will be to grab some buyers before the next attack....

Hold onto your shorts dude!
COT: The precious data ignored
  • #347,203
  • Dec 16, 2010 9:16am Dec 16, 2010 9:16am
Quoting BrunargarFx
Yes. There was a bearish HD on the MACD for some time...

Stronger support at 1278. I dont bet against gold, (hopefully it will go down to 1278), I'll wait the bottom to put a long position

i think it's gonna hold on to 1361 and will go up
  • #347,204
  • Dec 16, 2010 9:17am Dec 16, 2010 9:17am
Quoting kuroro001
If it ever bounces off 1,3180-85...it will be to grab some buyers before the next attack....

Hold onto your shorts dude!
i do, don't worry. looking for an addition.

it's also just, that i have to look at this...
Attached Image (click to enlarge)
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  • #347,205
  • Dec 16, 2010 9:19am Dec 16, 2010 9:19am
little bit late for me to get in, i want to see a bounce back to 3217 and if it's rejected there i will short.
  • #347,206
  • Dec 16, 2010 9:19am Dec 16, 2010 9:19am
did sell, lets see what's happen
Consistency will bring everything...Be good.
100% Is The Target v.1 All Time Return: -95.4%
  • #347,207
  • Dec 16, 2010 9:20am Dec 16, 2010 9:20am
Quoting johnnyrei
i think it's gonna hold on to 1361 and will go up
Could be, it's the wrong time of the year for Gold to go down.
  • #347,208
  • Dec 16, 2010 9:21am Dec 16, 2010 9:21am
Finally I was able to get rid of my two short lots that went sour in the upwards channel earlier today. BE + 5 pips. Even though I could have gained a nice profit staying in the trade as it went on past 3200, I'm quite satisfied with the outcome. I've been staring at the drawdown for hours, and just wanted to get out.
  • #347,209
  • Dec 16, 2010 9:21am Dec 16, 2010 9:21am
Quoting Jack.e
bookmarked
You are welcome

@Skullcandy:

2010-12-16 14:56:52 UPDATE: ECB Announces Capital Hike On Rising Credit Risks

News releases like this are incredibly important since they give clues on how bad a situation really is.

The current capital of the ECB is about 4 Billion, they are effectively DOUBLING their capital.

The thing is that the Philly index was a good release in terms of data for the Euro as it drove demand for the dollar up on the retail market. The big players were more interessted in the announcement made by the ECB which was made shorty before the Philly index.

You need to try and understand from the perspective of an investor why exactly the ECB is doubling their capital (think bond purchases, soverign debt etc).

Unfortunately most people in here do not understand these basic principles others do. All i can tell you with my limited knowledge on these things is that you cannot afford to be a sheep in this market because you will be slaughtered and turned into delicous lambchops
  • #347,210
  • Dec 16, 2010 9:21am Dec 16, 2010 9:21am
Quoting kuroro001
No need to buy there is no buyers...stay with the sellers
it is just the norm you know!
  • #347,211
  • Dec 16, 2010 9:22am Dec 16, 2010 9:22am
Quoting dbfusion
I think EU will go down big today .
USDCHF up
eurjpy down
gbpgpy up .

that's how i am positioned any how

but not positioned in EU , missed the entry.

I SEE YOU !!
  • #347,212
  • Dec 16, 2010 9:23am Dec 16, 2010 9:23am
Quoting BrunargarFx
Could be, it's the wrong time of the year for Gold to go down.
wrong time of year?

2 things I find wrong with that ...

This is an abnormal year to INCLUDE the fact that gold has reached an all-time high so you can't compare to any other year.

& it is December ... what did you mean by 'that time of year'?
In a world of Bulls & Bears ... I'm a Motha Fkn T-Rex
  • #347,213
  • Dec 16, 2010 9:25am Dec 16, 2010 9:25am
Quoting kuroro001
If it ever bounces off 1,3180-85...it will be to grab some buyers before the next attack....

Hold onto your shorts dude!

Are you considering 1,3180-85 a weak support because we've been ranging so long around 1,3250? Or is it the moemntum of the breakout that gives you the hints about .3180 durability?

Cheers
"Put your shoulder to the wheel!"
  • #347,214
  • Dec 16, 2010 9:26am Dec 16, 2010 9:26am
Quoting gatorinla
i got 3181 as a st pa target. but i do hope 3189 gets some respect.
this is good 2 me.
those who can, do. those who cant, talk about those who can
  • #347,215
  • Dec 16, 2010 9:27am Dec 16, 2010 9:27am
Quoting BrunargarFx
Could be, it's the wrong time of the year for Gold to go down.
I am in the same camp. See my Gold blog in my signature. Think Gold is not done, yet. Maybe 1500. Do not understand me wrong. I see Gold dropping as well as stock markets, euro, real estate etc. But maybe one final push higher....
  • #347,216
  • Dec 16, 2010 9:29am Dec 16, 2010 9:29am
Quoting gatorinla
this is good 2 me.
it will brake, it's going down to 63
  • #347,217
  • Dec 16, 2010 9:30am Dec 16, 2010 9:30am
will enter if it comfortably breaks 1.3180 levels : target 1.3146
finding A M S
  • #347,218
  • Dec 16, 2010 9:31am Dec 16, 2010 9:31am
Quoting Texaspips
wrong time of year?

2 things I find wrong with that ...

This is an abnormal year to INCLUDE the fact that gold has reached an all-time high so you can't compare to any other year.

& it is December ... what did you mean by 'that time of year'?
Does not matter if Gold reached a all time high. It's christmas, part of gold cycle:
like August is generally a low for gold, December is a high (think about jewellers). So it does not matter if gold is at its high, presies will be more expensive that's all.
  • #347,219
  • Dec 16, 2010 9:31am Dec 16, 2010 9:31am
Quoting Mr Hatch
you think, it will bounce around 3169? or respect 3189/81?
i dont know.. im hoping after 3189 the rest is just a thump on the floor boards.
the last st # i have left on the calculator is 3166 .. that would be 3166/000
those who can, do. those who cant, talk about those who can
  • #347,220
  • Dec 16, 2010 9:31am Dec 16, 2010 9:31am
Quoting proletary
Are you considering 1,3180-85 a weak support because we've been ranging so long around 1,3250? Or is it the moemntum of the breakout that gives you the hints about .3180 durability?

Cheers
I see weaker support now compared to 3-4 days ago
Last time there was buyers all the way down...each time it was trying to make new lows buyers stepped in to buy euro.

Look now...it went down from 1,3500 to 1,3200 within a day. And from 1,3200 to 1,3250 the move was slow (check your H1)...momentum was weak...
That's why i think sellers have accumulated shorts from 1,3490 to break every floors.

I might be wrong though...and if i am i will say it out loud to make some longs happy
COT: The precious data ignored
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