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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #13,361
  • May 25, 2011 6:18am May 25, 2011 6:18am
6211 is WP and price is currently just sitting on the WP so I'd wait for WP to be cleared before going short.
  • #13,362
  • May 25, 2011 6:23am May 25, 2011 6:23am
any euro bulls here?














I have a message for you
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  • #13,363
  • May 25, 2011 6:24am May 25, 2011 6:24am
also don't forget that USDX still hasn't resolved the triangle setup, it looks that downside is more favorable, however need to confirm that.

http://img830.imageshack.us/img830/5938/usdxbreak.png
  • #13,364
  • May 25, 2011 6:27am May 25, 2011 6:27am
Quote
I have a message for you



Good thing I didn't touch euro today, covered my GU and GJ and now feel good about it.
  • #13,365
  • May 25, 2011 6:28am May 25, 2011 6:28am
So Azim you think that triangle's gonna break out north? It's an option though the AMR on USDX is out already, however average is just statistics anyway and stats is flawed to say the least.
  • #13,366
  • May 25, 2011 6:29am May 25, 2011 6:29am
Quoting ruffryders
also don't forget that USDX still hasn't resolved the triangle setup, it looks that downside is more favorable, however need to confirm that.

Dollar bears are already in the coffin. They just don't know it yet.
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  • #13,367
  • May 25, 2011 6:30am May 25, 2011 6:30am
she, GU, I aint playin

She is waking up!!!!
  • #13,368
  • May 25, 2011 6:35am May 25, 2011 6:35am
ohooooooooo..long time not post here
  • #13,369
  • May 25, 2011 6:35am May 25, 2011 6:35am
I can say that from observing price action on gold that it has been very slow and capped at 1527 currently @ 1525 so can't clear 1525 with a strong move, so that prolly means uspide is very limited now.

It's not so clear with oil though, however it's setting up for a symm triangle break out as well on H4. With symm triangles it's kinda worth to note where the price action arrived from originally and with light crude the PA came from the top, so might be that symm triangle on oil will resolve as a continuation pattern of the previous downmove, so that kinda supports your USDX bullish stance.

btw here's the H4 light crude triangle

http://img221.imageshack.us/img221/196/lightcrudeh4.png
  • #13,370
  • May 25, 2011 6:40am May 25, 2011 6:40am
Quoting nAVIN2007
she, GU, I aint playin

She is waking up!!!!
GU test of 60-80 is key for further PA, I just didn't have enough patience to keep my longs till that area.
  • #13,371
  • May 25, 2011 6:45am May 25, 2011 6:45am
Quoting ruffryders
So Azim you think that triangle's gonna break out north? It's an option though the AMR on USDX is out already, however average is just statistics anyway and stats is flawed to say the least.
I don't even know what timeframe that triangle is mate. I have a long term eurusd short in place (300+ pips stop). The htf on dx does not say bearish, I'm gonna sell the rallies.
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  • #13,372
  • May 25, 2011 6:47am May 25, 2011 6:47am
Quoting ruffryders

btw here's the H4 light crude triangle
that's a bearish pennant.
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  • #13,373
  • May 25, 2011 6:55am May 25, 2011 6:55am
Azim it's an H1 USDX chart. PA came from below so might be a continuation break out, that kinda goes well with the light crude pennant.

http://img16.imageshack.us/img16/7613/usdxh1.png
  • #13,374
  • May 25, 2011 7:10am May 25, 2011 7:10am
Quoting ruffryders
Azim it's an H1 USDX chart. PA came from below so might be a continuation break out, that kinda goes well with the light crude pennant.
orite thanks

I only have the dx from H4 onwards. I've found that the ltf on dx noisy & usually is misleading. The htf on the dx very rarely fails tho.
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  • #13,375
  • May 25, 2011 7:10am May 25, 2011 7:10am
USDX H4 EW analysis, sailor I'm out of loonie due to this deal here

http://img820.imageshack.us/img820/2963/usdx240ew.png

And here's the USD CAD H4 EW

http://img222.imageshack.us/img222/2130/usdcadh4ew.png
  • #13,376
  • May 25, 2011 7:16am May 25, 2011 7:16am
Quote
I've found that the ltf on dx noisy & usually is misleading.

I completely agree with you Azim, like on that H1 USDX there was the H1 almost PB, however it's almost 100% deception since it's stuck in traffic and not at a key level, only good indication is divergence on RSI, that triangle looks like it will resolve to the upside now (confirmed by your analysis + EW on H4 pointing north too!)
  • #13,377
  • May 25, 2011 7:22am May 25, 2011 7:22am
Quoting wormboy
orite thanks

I only have the dx from H4 onwards. I've found that the ltf on dx noisy & usually is misleading. The htf on the dx very rarely fails tho.
my response to ams yesterday re the dollar retesting the breakout level based on the HTF. See anything bearish yet? I don't.
But go down to the LTF ie the H1 & pa is all over the place you're bound to get tricked into seeing things that are not there.

Quoting wormboy
yea .. it's just retesting yesterday's breakout level. Pretty normal imo, I don't reckon 74 is coming.
Probably because I'm dollar bullish
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Click to Enlarge Name: dxd.png Size: 7 KB
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  • #13,378
  • May 25, 2011 7:26am May 25, 2011 7:26am
Quoting ruffryders
I completely agree with you Azim, like on that H1 USDX there was the H1 almost PB, however it's almost 100% deception since it's stuck in traffic and not at a key level, only good indication is divergence on RSI, that triangle looks like it will resolve to the upside now (confirmed by your analysis + EW on H4 pointing north too!)
welp, we're not there yet. we could just range into the weekend for all you know, which was why I chose to just short the euro long term. Intraday will likely drive you nuts. I want none of that lol
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  • #13,379
  • May 25, 2011 7:32am May 25, 2011 7:32am
Quoting wormboy
welp, we're not there yet. we could just range into the weekend for all you know, which was why I chose to just short the euro long term. Intraday will likely drive you nuts. I want none of that lol
That is why i will trade just obvious setups on the short side, till we don't have confirm otherwise. i even closed my short on EU that i took earlier at the DP (couple of pips under it)... and if today will be a nothing done day.. so be it. DX ranging around 76, so nothing really worth screaming "long" or "short" yet
I don't want a job, i want money!
  • #13,380
  • May 25, 2011 7:32am May 25, 2011 7:32am
Quoting wormboy
welp, we're not there yet. we could just range into the weekend for all you know, which was why I chose to just short the euro long term. Intraday will likely drive you nuts. I want none of that lol
complete battlefied
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