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  • #441,101
  • May 12, 2011 2:38pm May 12, 2011 2:38pm
Quoting kill56
aud a break and the bucket will be full
before and after. watching the 00 est close again
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those who can, do. those who cant, talk about those who can
  • #441,102
  • May 12, 2011 2:38pm May 12, 2011 2:38pm
Quoting kill56
yap but not traden it
got it...
Look Sharp/Trade Tight
  • #441,103
  • May 12, 2011 2:40pm May 12, 2011 2:40pm
Quoting sidhujag
I think this is a suckers rally... goldman has gone marginally bullish on USD debt...

On the other hand on Monday US will surpass the debt ceiling? :O what to do what to do.
My theory is that congress will approve a new debt ceiling at last hour and dollar will rally. This of course is not really good news for the dollar. It just means US bought more time before the inevitable default.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #441,104
  • May 12, 2011 2:44pm May 12, 2011 2:44pm
Quoting RamsesII
infinitus, would you mind showing how you've labeled wave 5? thanks
I have counted this on several TF's.

4h fits perfectly, 2h and 1h

30min and 15min is a bit hard to count


On 1h TF only the following count fits to the Awesome Oscillator analysis on 5min TF. I know, that my wave 5 might be not the five but the B-wave of a flat, but when we count the flat is does not fit well with Awesome Oscillator
Attached Image (click to enlarge)
Click to Enlarge Name: 0512201 b 1h evening main count bearish eurusd.jpg Size: 73 KB
  • #441,105
  • May 12, 2011 2:46pm May 12, 2011 2:46pm
Quoting gatorinla
before and after. watching the 00 est close again

would a close under the two reds...1.07ish, setup a test of 1.0466..
Look Sharp/Trade Tight
  • #441,106
  • May 12, 2011 2:47pm May 12, 2011 2:47pm
Quoting gatorinla
before and after. watching the 00 est close again

lets see
  • #441,107
  • May 12, 2011 2:48pm May 12, 2011 2:48pm
Quoting vox dei
My theory is that congress will approve a new debt ceiling at last hour and dollar will rally. This of course is not really good news for the dollar. It just means US bought more time before the inevitable default.
and Portugal, have they bought more time?
those who can, do. those who cant, talk about those who can
  • #441,108
  • May 12, 2011 2:48pm May 12, 2011 2:48pm
Quoting infinitus
EW evening update:
Interesting as well this TREND CHANNEL there ...

But needs to break soon ... otherwise this view will be dampened ...

Yours show an hourly chart with still valid downwards major probability channel ...
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #441,109
  • May 12, 2011 2:54pm May 12, 2011 2:54pm
Quoting PayTheLimit
would a close under the two reds...1.07ish, setup a test of 1.0466..
it already did that..a engulfed closed candle just means it should go to the next b/o point/s/r and test it. but it dont mean it will break it. that yellow line is a b/o level when closed below.. but there is another red level below to stop it. there is always another level. always a wave to beat.
those who can, do. those who cant, talk about those who can
  • #441,110
  • May 12, 2011 2:55pm May 12, 2011 2:55pm
Quoting infinitus
I have counted this on several TF's.

4h fits perfectly, 2h and 1h

30min and 15min is a bit hard to count


On 1h TF only the following count fits to the Awesome Oscillator analysis on 5min TF. I know, that my wave 5 might be not the five but the B-wave of a flat, but when we count the flat is does not fit well with Awesome Oscillator
thanks! Some dollar weakness would fit well with the aussie having made a B low as well. Cheers
Don't have an ego. Always question yourself and your ability.
  • #441,111
  • May 12, 2011 3:07pm May 12, 2011 3:07pm
Quoting mercy seat
Interesting as well this TREND CHANNEL there ...

But needs to break soon ... otherwise this view will be dampened ...

Yours show an hourly chart with still valid downwards major probability channel ...
The channel is an Elliott wave base channel. You obtain it by conecting end of wave 2 and 4, and then by drawing a parallel to that through end of wave 3.

Sometimes wave 5 only reaches the middle of the channel, oftentimes it runs the full distance to the channel boarder.

If my count is true we likely have a few days time to see the wave red 2 evolve.
A target of choice for a correction is the wave 4 of one lesser degree, that is around 44x, but even so a wave 2 can take back the whole advance of the wave 1 without invalidating the count.

Downward pressure was fairly high - over 800 pips without much of a retrace. When the situation in Europe does not change a little bit, then I am looking for a more shallow correction (44x) or max. the 50% retracement around 45x

Every time wave 5 does not reach the channel line you have to think about the possibility of an expanding wave 5. That means, that the wave I have labeled blue 5 may only be subwave 1 of blue 5
  • #441,112
  • May 12, 2011 3:08pm May 12, 2011 3:08pm
Quoting gatorinla
there is always another level. always a wave to beat.
indeed....

I'm watching 1.0506/41..daily close below, for a chance at 1.0014/75, with a few stops on the way...lol...
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 12 KB
Look Sharp/Trade Tight
  • #441,113
  • May 12, 2011 3:09pm May 12, 2011 3:09pm
wow, just took a look at uchf, huge rsi divergence on these peaks on the hourly!, also counts very nicely as a 5-3-5. Could be some very big clues in here...
Attached Image (click to enlarge)
Click to Enlarge Name: 12may11uchf.PNG Size: 55 KB
Don't have an ego. Always question yourself and your ability.
  • #441,114
  • May 12, 2011 3:19pm May 12, 2011 3:19pm
Quoting futurebless
Im short at 1.4235, this is the .38 fib for the downtrend from 1.4425 to 1.4125. It broke this level earlier and went to the .50 fib level before retracing back to this level
Im out at breakever. PA sucks, looking foward to Bernanke speech tonight to give this pair some direction
motivation
  • #441,115
  • May 12, 2011 3:24pm May 12, 2011 3:24pm
Quoting futurebless
Im out at breakever. PA sucks, looking foward to Bernanke speech tonight to give this pair some direction
Don't count on it. You can always click on the little folder next to the announcement to see a summary of what he will be talking about and where.
  • #441,116
  • May 12, 2011 3:25pm May 12, 2011 3:25pm
Quoting futurebless
Im out at breakever. PA sucks, looking foward to Bernanke speech tonight to give this pair some direction
I think you may be mistaken with your times, the bernank spoke this afternoon...
  • #441,117
  • May 12, 2011 3:31pm May 12, 2011 3:31pm
Quoting FibbinArchie
I think you may be mistaken with your times, the bernank spoke this afternoon...
hate when that happends...

btw it says 8pm on the calendar...
Look Sharp/Trade Tight
  • #441,118
  • May 12, 2011 3:32pm May 12, 2011 3:32pm
Quoting PayTheLimit
hate when that happends...
u r correct...tonight 8
  • #441,119
  • May 12, 2011 3:33pm May 12, 2011 3:33pm
Quoting PayTheLimit
hate when that happends...
gettin old ptl...
  • #441,120
  • May 12, 2011 3:39pm May 12, 2011 3:39pm
Quoting infinitus
The channel is an Elliott wave base channel. You obtain it by conecting end of wave 2 and 4, and then by drawing a parallel to that through end of wave 3.

Sometimes wave 5 only reaches the middle of the channel, oftentimes it runs the full distance to the channel boarder.

If my count is true we likely have a few days time to see the wave red 2 evolve.
A target of choice for a correction is the wave 4 of one lesser degree, that is around 44x, but even so a wave 2 can take back the whole advance of the wave 1 without invalidating the count.

Downward...

Indeed ...

Looks more likely that 1.4317 will be the next reversal area ...

But these are grafical ideals ... we like ideals of beauty ... but universal nature has other mindset or sense for that about what is right and beauty therefore ...



;-|
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-05-12_22h28_ EURUSD _ min005 _ (ALL) line + TL + TC + PP.PNG Size: 24 KB
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