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  • #1,141
  • Edited 5:18pm Jul 19, 2011 5:09pm | Edited 5:18pm
Are we going to revisit the bottom of the range? The markets as I said before are taking risks again. But for how long? The fundamental problems are still there and have not gone away. At this time the market is overbought on the daily chart. The stoch has turned down from lofty highs. We also have a bearish reversal candlestick pattern - bearish engulfing.

On the other hand the bearish candle could just be a retest of the breakout zone...

Olu
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If you think you can or cannot do it you are correct
  • #1,142
  • Jul 20, 2011 7:54am Jul 20, 2011 7:54am
A possibility for a long trade is setting up for me. Will keep an eye on this one
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If you think you can or cannot do it you are correct
  • #1,143
  • Jul 20, 2011 4:06pm Jul 20, 2011 4:06pm
Find uploaded a daily chart of the euraud. This pair is tracing out a 5 wave descent from 3685. The target is at least the previous double bottom low around 2929. It could even go lower if it plays out well. Now if I am right price should not go over 3305 plus spread. So price above that area forces a rethink and re-evaluation.

On a bigger picture there is a massive H&S top on the chart and we are playing around the neckline at the moment. If this plays out - which will need patience and loads of it like GolferFx has, the target is 1.22xx area - about 1000 pips away. If this happens I want to be profiting from it

Care is needed though. There is a lot of Fundamental information to be released about the greece bailout. If there is no clarity we will see 2929 or lower quickly. If not thern we will need to let long term fundamentals run its course.


Olu
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If you think you can or cannot do it you are correct
  • #1,144
  • Jul 20, 2011 4:14pm Jul 20, 2011 4:14pm
BBO,

What are your thoughts on Ucad.

Are we going lower.

If we break blue line...I think one could make alot of money.

Just pre-hunting.


golfer
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  • #1,145
  • Jul 20, 2011 4:17pm Jul 20, 2011 4:17pm
This is just a plain vanilla sell signal according to my system.

Olu
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If you think you can or cannot do it you are correct
  • #1,146
  • Jul 21, 2011 8:45pm Jul 21, 2011 8:45pm
Quoting golferfx
BBO,

What are your thoughts on Ucad.

Are we going lower.

If we break blue line...I think one could make alot of money.

Just pre-hunting.


golfer
Hi GolferFx

usdcad I believe is a long term sell. I believe though that we are almost trying to play out a double bottom scenario which I think will be broken after a retracement has spent itself.
If you think you can or cannot do it you are correct
  • #1,147
  • Jul 21, 2011 8:57pm Jul 21, 2011 8:57pm
Quoting Olu
Find uploaded a daily chart of the euraud. This pair is tracing out a 5 wave descent from 3685. The target is at least the previous double bottom low around 2929. It could even go lower if it plays out well. Now if I am right price should not go over 3305 plus spread. So price above that area forces a rethink and re-evaluation.

On a bigger picture there is a massive H&S top on the chart and we are playing around the neckline at the moment. If this plays out - which will need patience and loads of it like GolferFx has, the target is 1.22xx area...
I have been advocating that this pair is going down based on my rudimentary elliott wave knowledge. Price rallied hard somewhat today but was rebuffed by 1.3300 area. So the analysis is still intact. As we speak price is retreating. I am holding a small short from 1.3290 with a tight stop.

The eurozone have agreed on a bailout plan for greece, essentially kicking the can along the road. I fear for the future of these elaborate bailout schemes. 109 Billion euros! We now mention this kind of money like its nothing. As traders we need to be positioned as such that we catch those 5000pips fallouts when they happen

America, in my opinion, will reach an agreement last minute and raise debt by trillions. Postponing the evil day like the eurozone

Traders we live in interesting times. Interesting times indeed

Olu
If you think you can or cannot do it you are correct
  • #1,148
  • Jul 22, 2011 7:43am Jul 22, 2011 7:43am
Quoting Olu
I am holding a small short from 1.3290 with a tight stop...

Olu

Price is moving down as discussed in earlier post. Half taken off and the stop moved to b/e

Olu
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If you think you can or cannot do it you are correct
  • #1,149
  • Jul 22, 2011 8:00am Jul 22, 2011 8:00am
Daily:

Bullish Butterfly Pattern....

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4hr:

For those of us that would like to join in and have missed initial rally. We have a possible, bullish 5-0 pattern emerging. We intend to buy at 61.8 fib level retracement which is also know as the "Golden Ratio"...cheers!

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  • #1,150
  • Jul 22, 2011 8:28am Jul 22, 2011 8:28am
Quoting efeezeefx
Daily:

Bullish Butterfly Pattern....

Attachment

4hr:

For those of us that would like to join in and have missed initial rally. We have a possible, bullish 5-0 pattern emerging. We intend to buy at 61.8 fib level retracement which is also know as the "Golden Ratio"...cheers!

Attachment
Thanks efeezeefx for your input. I am very long term bearish on this pair. I put up my elliott wave analysis of the monthly chart a little while ago. I believe it will go to new lows.

Pls can you do the same analysis on the monthly chart to see whether it flags the same thing.

Also I totally missed that broken trendline on the 4h. Well done for showing it. Indeed this pair seems to be short term bullish

Thanks for your post. More please...

Olu
If you think you can or cannot do it you are correct
  • #1,151
  • Jul 22, 2011 9:10am Jul 22, 2011 9:10am
But the rumour sell the fact?
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If you think you can or cannot do it you are correct
  • #1,152
  • Jul 24, 2011 4:16pm Jul 24, 2011 4:16pm
This pair is signalling a short.
Price is under the 100sma
Stoch has turned to the downside

I would like the opening gap to close i.e sell around 82.90. But that's just me. First target is 81 then 79.05. Well see how it goes.

Olu
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If you think you can or cannot do it you are correct
  • #1,153
  • Jul 26, 2011 2:11am Jul 26, 2011 2:11am
Quoting efeezeefx
Daily:

Bullish Butterfly Pattern....

Attachment

4hr:

For those of us that would like to join in and have missed initial rally. We have a possible, bullish 5-0 pattern emerging. We intend to buy at 61.8 fib level retracement which is also know as the "Golden Ratio"...cheers!

Attachment
EURCAD LONG:

We are long......we adjusted our entry.

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  • #1,154
  • Jul 26, 2011 2:15am Jul 26, 2011 2:15am
Quoting efeezeefx
EURCAD LONG:

We are long......we adjusted our entry.

Attachment
great entry. wish this one goes to the moon

i was expecting some analysys from you...

olu
If you think you can or cannot do it you are correct
  • #1,155
  • Jul 26, 2011 12:53pm Jul 26, 2011 12:53pm
Quoting Olu
great entry. wish this one goes to the moon

i was expecting some analysys from you...

olu

Yeah, sorry about that....i will do the monthly analysis and post it here soon...
  • #1,156
  • Jul 26, 2011 4:43pm Jul 26, 2011 4:43pm
4hr:

We are hoping to go short on this pair...we have a PO set already (sell stop), mind you we will remove it if not filled before news at 1am (Nigerian Time) and replace PO if the effect of the news is not really effective....just playing it VERY SAFE....lol...good luck guys!

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  • #1,157
  • Jul 27, 2011 2:43am Jul 27, 2011 2:43am
Quoting efeezeefx
4hr:

We are hoping to go short on this pair...we have a PO set already (sell stop), mind you we will remove it if not filled before news at 1am (Nigerian Time) and replace PO if the effect of the news is not really effective....just playing it VERY SAFE....lol...good luck guys!

Attachment
Hi Efe

I dont have this pair on my platform to trade. But i will be tracking it via the majors

Olu
If you think you can or cannot do it you are correct
  • #1,158
  • Jul 27, 2011 2:45am Jul 27, 2011 2:45am
Short cadjpy
Short eurchf

Olu
If you think you can or cannot do it you are correct
  • #1,159
  • Jul 27, 2011 7:35am Jul 27, 2011 7:35am
MONTHLY:

This is the analysis you asked for on monthly....I am still long. Hope it helps....Cheers!


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  • #1,160
  • Jul 27, 2011 7:41am Jul 27, 2011 7:41am
Glad we stuck to the rules on this one....we have a general rule to remove POs if not filled 30mins before a major news release. That ruled kept us out of this trade. More better one will come...cheers!

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