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Circular Trendlines

  • #341
  • Jun 22, 2011 9:01pm Jun 22, 2011 9:01pm
First retracement happening at 4230 region
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  • #342
  • Jun 22, 2011 11:18pm Jun 22, 2011 11:18pm
We may have a little support around current price area 4300. Not sure how much it will be or how long it will last but I have this area marked as a possible s/r area.
  • #343
  • Jun 22, 2011 11:44pm Jun 22, 2011 11:44pm
Here is my take of the GBP/USD pair, very choppy pair to trade, as I have always had my share of experience with this pair:

Weekly
Overall until 2013 the GBP will be very rangebound between 5700 and 6700 with very little chance to break CONSIDERABLY lower than 5700 to 4500. Still 5500 is allowed, but not a dip to 4500 for some time to come

Daily
This pair is showing a rough ride through the bubbles, but will have a chance to hit the 5500-5700 zone one more time before going further upwards. Lower time frames are suggesting the Green bubble will get borken
H4
The intensity of the drop from 6500 is increasing due to the shift in the bubbles and 5750-5800 will be reached very quickly

Quoting DaveXXXX
No problem. I don't think the G/U will be taking off soon.
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  • #344
  • Jun 22, 2011 11:54pm Jun 22, 2011 11:54pm
I dont think this pair at the moment has a lot of room to try a upward thrust. Still heading down.


Quoting DaveXXXX
We may have a little support around current price area 4300. Not sure how much it will be or how long it will last but I have this area marked as a possible s/r area.
Attached Image (click to enlarge)
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  • #345
  • Jun 23, 2011 1:06am Jun 23, 2011 1:06am
Wow, thanks so much for that analysis. Very nice of you and quite helpful.

Quoting Kambooj
Here is my take of the GBP/USD pair, very choppy pair to trade, as I have always had my share of experience with this pair:

Weekly
Overall until 2013 the GBP will be very rangebound between 5700 and 6700 with very little chance to break CONSIDERABLY lower than 5700 to 4500. Still 5500 is allowed, but not a dip to 4500 for some time to come

Daily
This pair is showing a rough ride through the bubbles, but will have a chance to hit the 5500-5700 zone one more time before going further upwards. Lower time frames are suggesting the Green bubble will...
  • #346
  • Jun 23, 2011 1:08am Jun 23, 2011 1:08am
Quoting Kambooj
I dont think this pair at the moment has a lot of room to try a upward thrust. Still heading down.
I agree with you. But, I had a previous S/R point there, not a strong one. It may just be up to 4320 (the blue circle you have drawn), or may not even do that.
  • #347
  • Jun 23, 2011 6:12am Jun 23, 2011 6:12am
It went through that 4230 region like knife through butter. My next trendline is 4120 on this posting I had a while ago, the touchpoint on the lower curve.

http://www.forexfactory.com/showthre...41#post4716741


Quoting DaveXXXX
I agree with you. But, I had a previous S/R point there, not a strong one. It may just be up to 4320 (the blue circle you have drawn), or may not even do that.
  • #348
  • Jun 23, 2011 8:57am Jun 23, 2011 8:57am
The pair is getting close to a important trendline on the 2 Hour time frame. To be on the safe side, it is too late to go short provided that a bounce can occur.
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  • #349
  • Jun 23, 2011 9:16am Jun 23, 2011 9:16am
A curved drop is something to be aware of when continuing to go short. Such drops can easily bounce back quite hard too.
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  • #350
  • Jun 23, 2011 9:26am Jun 23, 2011 9:26am
This is another example of my eye catching a similar situation that wanted to bring across. Not too far fetched

Quoting Kambooj
A curved drop is something to be aware of when continuing to go short. Such drops can easily bounce back quite hard too.
Attached Image (click to enlarge)
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  • #351
  • Jun 23, 2011 10:43am Jun 23, 2011 10:43am
Slow reversal signs happening. Checking the Red circle to see how its south pole gets penetrated. If break is solid we might be in the early stages of a reversal.

The Eye structure in blue is almost completed too.

No strong confirmation yet,

Lets see...
Attached Image (click to enlarge)
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  • #352
  • Jun 23, 2011 10:46am Jun 23, 2011 10:46am
I'm long again @4150 target 4230 , 4280
  • #353
  • Jun 23, 2011 10:49am Jun 23, 2011 10:49am
Quoting Kambooj
Slow reversal signs happening. Checking the Red circle to see how its south pole gets penetrated. If break is solid we might be in the early stages of a reversal.

The Eye structure in blue is almost completed too.

No strong confirmation yet,

Lets see...
hi there bro! waiting for the h4 close? haha RSI cant seem to say anything rght now, bounce off 4130 was solid though, last h1 close was a doji above it cleanly.
  • #354
  • Jun 23, 2011 10:52am Jun 23, 2011 10:52am
I am looking for sustenance on either of the 2 dotted circles below before putting a small lot for a buy..


Quoting egkid
I'm long again @4150 target 4230 , 4280
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  • #355
  • Jun 23, 2011 10:55am Jun 23, 2011 10:55am
Quoting Kambooj
I am looking for sustenance on either of the 2 dotted circles below before putting a small lot for a buy..
Let me say U r more wise
But this thing need to go To my mention target just watching my PA there
BTW u got PM
  • #356
  • Jun 23, 2011 10:57am Jun 23, 2011 10:57am
I wouldnt disagree with your mentioned target.

The targets are the center of my red circle and close to the perimeter of it.


Quoting egkid
Let me say U r more wise
But this thing need to go To my mention target just watching my PA there
BTW u got PM
  • #357
  • Jun 23, 2011 11:03am Jun 23, 2011 11:03am
I'm not happy because
I trade long term and I'm 90% sure about my target for E/U BUT
I [email protected] then building my positions sell 1.47,1.46,1.45,1.44
It drop to 1.3975 then UP 1.45 force me close

Again i [email protected] , 1.45 ,144 ,1.43
It drop to 1.4080 then Up 1.4440 force me close @1.4350

News and Q3 fucking my long term plan And my positions even i know where it going down
  • #358
  • Jun 23, 2011 11:08am Jun 23, 2011 11:08am
Trends rarely gain momentum and strength in June and July:

http://www.forexfactory.com/showthre...17#post4716017

If you are analyzing Elliot Wave and a prediction is made that a 3rd wave or a extended Wave 5 will start in June or July, chances are that its something else, or part of a correction. The correction will continue on and around end of july , mid august you see small signs of your wave 3 or impulse starting up.

That is something I experienced from hours of analyzing waves and loosing money during summer time.

Impulses are short lived during summer time and are ususally part of a Wave 4 or Wave 2 or a Wave B corrective motions.

Most of them are not authentic.

They are either Zig Zags, double Zig Zags, Triple Zig Zags (in extreme cases), Zig Zag followed By Flat Correction, or Zig Zags followed by ending contracting Triangles.

One thing to do is instead of counting in 5's and looking for impulses, count in 3's during these months.

The straw that will break the camels back comes in mid august.


Quoting egkid
I'm not happy because
I trade long term and I'm 90% sure about my target for E/U BUT
I [email protected] then building my positions sell 1.47,1.46,1.45,1.44
It drop to 1.3975 then UP 1.45 force me close

Again i [email protected] , 1.45 ,144 ,1.43
It drop to 1.4080 then Up 1.4440 force me close @1.4350

News and Q3 fucking my long term plan And my positions even i know where it going down
  • #359
  • Jun 23, 2011 12:05pm Jun 23, 2011 12:05pm
Looking to go long at anywhere in between 4140-4150
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  • #360
  • Jun 23, 2011 12:50pm Jun 23, 2011 12:50pm
Quoting Kambooj
Looking to go long at anywhere in between 4140-4150
I try to learn drew circle , here we go
Looking forward to know your comment
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