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  • #1,381
  • Dec 3, 2011 11:07am Dec 3, 2011 11:07am
Another weekly chart and some analysis...

Olu
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If you think you can or cannot do it you are correct
  • #1,382
  • Dec 4, 2011 3:31pm Dec 4, 2011 3:31pm
I like your idea's Olu.

Do you like the dollar strength trade for next year !

Here is another idea I've been chewing on. If we break support we could see a nice 1900 pip trade.

We'll have to be ready.



humble golfer
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  • #1,383
  • Dec 5, 2011 5:55am Dec 5, 2011 5:55am
Quoting golferfx
I like your idea's Olu.

Do you like the dollar strength trade for next year !

Here is another idea I've been chewing on. If we break support we could see a nice 1900 pip trade.

We'll have to be ready.



humble golfer
Golfer you beat me to this chart. First the answer to your question. Yes. Absolutely yes I believe the us$ will be king next year. Temporarily I believe end of year shenanigans will weaken the dollar and the dollar index might fall below 78 the figure (current support) but ultimately this baby will rally in a beautiful way. The panic in the market is not fixed yet. Even if the whole of Europe becomes the united states of Europe (USE) it cant be like the real thing (USA)

Now EurAud This pair typically goes down if the stock market goes up and vice versa. When the market is is risk mode this pair goes down. However I believe fundamentals in Europe will drive this pair down despite any stock market movements.

Then we the technical traders will then be able to capitalise on the move. Check out that big red candle on the weekly chart. Almost 500pips in length! And right now we are sitting on support looking and waiting for something to push it further or lift it. It is a sell below 1.2920
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If you think you can or cannot do it you are correct
  • #1,384
  • Edited 6:13am Dec 7, 2011 6:12am | Edited 6:13am
More down to follow?

Series of drives in both directions. However the downmoves are stronger than the upmoves. We are currently consolidating in a tight range. Price tried to settle above 7830 unsuccessfully. A break below 7740 might warrant a sell to start the next down move. Do your own d/d.

Olu
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If you think you can or cannot do it you are correct
  • #1,385
  • Edited 9:41am Dec 7, 2011 9:09am | Edited 9:41am
Quoting Olu
More down to follow?

Series of drives in both directions. However the downmoves are stronger than the upmoves. We are currently consolidating in a tight range. Price tried to settle above 7830 unsuccessfully. A break below 7740 might warrant a sell to start the next down move. Do your own d/d.

Olu
Dived right back into the congestion zone and threatening to breakout above the congestion zone

Olu
If you think you can or cannot do it you are correct
  • #1,386
  • Dec 8, 2011 9:35am Dec 8, 2011 9:35am
Yesterday I donated 35 pips to the forex cloud testing out my theory on the break of the nzdusd chart. Only to notice that we are right back at the breakdown point as I speak (type). The Dow opened and quickly rose and did a breakout to the upside only to reverse and plummet. This volatility is account chewing. Do not play the game of the market. Take only solid breakaway trades and stand firm.

by the way the dollar index keeps moving away from the 78 support area...
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If you think you can or cannot do it you are correct
  • #1,387
  • Dec 8, 2011 9:55am Dec 8, 2011 9:55am
I am not looking to buy this instrument. remember the weekly chart I posted earlier. It had a downside target of 3600!. Has this move begun? Only time will tell. If tomorrow disappoints then we will go down hard and even gap down on monday. Like my good friend says 'be prepared'

Olu
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If you think you can or cannot do it you are correct
  • #1,388
  • Dec 8, 2011 1:14pm Dec 8, 2011 1:14pm
Quoting Olu
Yesterday I donated 35 pips to the forex cloud testing out my theory on the break of the nzdusd chart. Only to notice that we are right back at the breakdown point as I speak (type). The Dow opened and quickly rose and did a breakout to the upside only to reverse and plummet. This volatility is account chewing. Do not play the game of the market. Take only solid breakaway trades and stand firm.

by the way the dollar index keeps moving away from the 78 support area...




Attached Image
  • #1,389
  • Dec 8, 2011 4:09pm Dec 8, 2011 4:09pm
Quoting Olu
Yesterday I donated 35 pips to the forex cloud testing out my theory on the break of the nzdusd chart. Only to notice that we are right back at the breakdown point as I speak (type). The Dow opened and quickly rose and did a breakout to the upside only to reverse and plummet. This volatility is account chewing. Do not play the game of the market. Take only solid breakaway trades and stand firm.

by the way the dollar index keeps moving away from the 78 support area...
Yes Golfer the dollar index chart does look like a cup and handle in the making. we wait...
If you think you can or cannot do it you are correct
  • #1,390
  • Dec 9, 2011 8:45am Dec 9, 2011 8:45am
Find uploaded a weekly chart if this interesting commodity. The general confidence of the market is that this instrument is going to the moon. I ask you when has the 99% ever been right? When? I propose the answer is never or to refine it a bit - at the end of the move.

This is a reason why I am alerting you all to the possibility of a 123 pattern as shown on the weekly chart. If we have a break of the 2 area we will do down hard. It will be an impulsive wave and you might not be able be able to get on board when it comes. Do your own d/d. Early bird might want to take the break of the inside line shown but its more risky. Better to wait for the big break

NB: One thing you can do to increase your profitability is to put in the stop order and wait. I can tell you the many trades I have missed because I wasnt there when the break happens. After I've missed the trade I then wait and look for a retracement which may never come. Trade gone! No profits. To rub salt into the injury the trade will turn out to be one that will my account major benefits. The long and short of this story is lay on the trade as a stop order and go about your other business.

Olu
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If you think you can or cannot do it you are correct
  • #1,391
  • Edited 6:38am Dec 12, 2011 5:51am | Edited 6:38am
We are on the verge of a breakout in the usdchf as we speak. Enough said look at the chart...

we are grossly overbought on this pair and it might not go through on the first attempt but the writing is on the wall. The US$ has nowhere to go but up. A bit of consolidation/hesitation might be in order here first

Note this is a weekly chart...

olu
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If you think you can or cannot do it you are correct
  • #1,392
  • Dec 13, 2011 12:51pm Dec 13, 2011 12:51pm
Excellent posts Olu !

100% with you on your idea's.




humble golfer
  • #1,393
  • Dec 13, 2011 2:24pm Dec 13, 2011 2:24pm
Quoting golferfx
Excellent posts Olu !

100% with you on your idea's.




humble golfer
Thanks Golfer
If you think you can or cannot do it you are correct
  • #1,394
  • Dec 14, 2011 12:14am Dec 14, 2011 12:14am
Olu has been talking about the USD strenght for the past couple of weeks if not months and finally here we are and may more to come, hat down my friend very well spotted.
  • #1,395
  • Dec 14, 2011 10:08am Dec 14, 2011 10:08am
Quoting Heliosdz
Olu has been talking about the USD strenght for the past couple of weeks if not months and finally here we are and may more to come, hat down my friend very well spotted.
Thanks for your comments. It is nice to see this come to pass and to profit from it. There might be some respite today though but the way I see it it is a 'sell the rally show' till something concrete is done like the ECB coming on board or a new eurobond is formed

Thanks

Olu
If you think you can or cannot do it you are correct
  • #1,396
  • Edited 4:18pm Dec 15, 2011 1:39pm | Edited 4:18pm
Find uploaded a daily and weekly chart of the euraud

In an earlier thread I talked about the possibility and expectation if this pair breaks out of the channel to the downside. If that happened then technically we could see a 2000pip drop. This would take weeks and weeks but it was possible.

I introduce to you as well the possibility of a significant upmove before this downmove. I have annotated the 4h chart with my thoughts.

Let me know what you think. The good thing about this possibility is the boundaries for this trade are well defined. Please not that a stock market rally will scupper this scenario and the breakdown scenario will then be on the cards.

Olu
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If you think you can or cannot do it you are correct
  • #1,397
  • Dec 18, 2011 8:13am Dec 18, 2011 8:13am
Olu,

Here's the chart we spoke about.

We are beginning to look alot like '08.




golfer
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  • #1,398
  • Dec 18, 2011 1:54pm Dec 18, 2011 1:54pm
Quoting golferfx
Olu,

Here's the chart we spoke about.

We are beginning to look alot like '08.
golfer
Thanks Golfer for this perspective. We have been talking a bout this for a long time and we are getting to the moment of truth now. The unwinding of credit is increasing and the dominoes are starting to fall. We need to be nimble and be in when it happens.

Olu
If you think you can or cannot do it you are correct
  • #1,399
  • Dec 18, 2011 2:01pm Dec 18, 2011 2:01pm
I wish all the tread readers and contributors a merry Christmas and a happy, fulfilled and pipful new year.

This week will be on light volume and we might get haphazard forex movements as usual. But there is no doubt and irrespective od what we see, the us$ is king and will probably be for the long term.

Olu
If you think you can or cannot do it you are correct
  • #1,400
  • Dec 19, 2011 5:41am Dec 19, 2011 5:41am
As thought we are meandering about the place leaning to the downside. We have support coming in at just under 80. A break and close above the recent highs is a signal to buy/add to positions

Olu
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If you think you can or cannot do it you are correct
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