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The Really Useless Thread

  • #93,941
  • Jun 4, 2012 4:53am Jun 4, 2012 4:53am
Quoting infinitus
out of my EW sight, both USDX and EURUSD are in a wave 3 of multiple degree.

Now we are likely in a subwave 4 action (up) in EURUSD

When we lok at the corresponding wave 2, which was deep and long lasting, rule of alternation would normally only bring a shallow retracement.

I actually think about 26-270
thanks for your thoughts infinitus, see you're techs just can't see the fundies..
Don't be a hero. Don't have an ego. Always question yourself
  • #93,942
  • Jun 4, 2012 4:56am Jun 4, 2012 4:56am
Quoting kenfen69
Mentioned 2650 a little earlier. Not so sure how much longing I'll do to get there, but will eagerly await to short around there.

Nice insight, Markus...always nice to get an EW perspective.
Hi Ken,

Out of my sight we have now 3 high probability wave counts:


a) Prechters big 1-2, 1-2, 1-2 etc. count, which surely will lead to the destruction of the Euro


b) Prechters A-B(triangle)-C count, which ideally targets the area around 1.10, or in case of a wave 3 extension 0.92


c) my "eternal triangle count", which targets parity to 0.85


At this stage all three counts are in an impulsive move down, which should end at parity +/- 1000 pips



Let me show now Prechters A-B (triangle)-C count.

The thrust out of a triangle is most of the time the length of the widest space in the triangle. That would be the triangles A-wave.

With that being said, the target would be 1.10.


Time considerations I have none, because with things in Europe developing quite fast, every consolidation can be very short lived.

So when you look at the chart and the wave numbers for the projected waves, see it only quantitative and not time wise.

At this weekend we had 12% EURO bulls left. I think, that is enough for further down-moves. As we can see from the past, levels around 3-4% made the turn-arounds.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_USD_Weekly_snapshot.jpg Size: 96 KB
  • #93,943
  • Jun 4, 2012 5:01am Jun 4, 2012 5:01am
Quoting kenfen69
Will I short 2444 for gator?
good idea, will short there too.

Ideally would be around 2451 for me
  • #93,944
  • Jun 4, 2012 5:04am Jun 4, 2012 5:04am
rather higher circa 2520 .... no trades tonight on this bullshit i need a fresh coffee....
  • #93,945
  • Jun 4, 2012 5:07am Jun 4, 2012 5:07am
Quoting kenfen69


Why?

Dayum...that tummy's getting weaker!
lol na she is better i have been taking care of her...

seems they just want to grind it up here huh
  • #93,946
  • Jun 4, 2012 5:08am Jun 4, 2012 5:08am
Quoting infinitus
good idea, will short there too.

Ideally would be around 2451 for me
Indeed. Nice from an r:r perspective. Just trying to decide which approach to take: Tight stops around 2460, or scale in and play it as a "zone" to 2480ish.

Hmmmmm.
  • #93,947
  • Jun 4, 2012 5:11am Jun 4, 2012 5:11am
Quoting kenfen69
Indeed. Nice from an r:r perspective. Just trying to decide which approach to take: Tight stops around 2460, or scale in and play it as a "zone" to 2480ish.

Hmmmmm.
extended move can bring 2482, but I think 2451 is the max in this move
  • #93,948
  • Jun 4, 2012 5:13am Jun 4, 2012 5:13am
Quoting infinitus
Hi Ken,

Out of my sight we have now 3 high probability wave counts:


a) Prechters big 1-2, 1-2, 1-2 etc. count, which surely will lead to the destruction of the Euro


b) Prechters A-B(triangle)-C count, which ideally targets the area around 1.10, or in case of a wave 3 extension 0.92


c) my "eternal triangle count", which targets parity to 0.85


At this stage all three counts are in an impulsive move down, which should end at parity +/- 1000 pips



Let me show now Prechters A-B (triangle)-C count.

The thrust out of a triangle is most...
Very nice, mate!

Wow...option a) doesn't sound fun! How does Prechter sleep at night with that one in his head!?!

b & c pointing the same direction. What about seb? Are you guy's on similar counts?
  • #93,949
  • Jun 4, 2012 5:19am Jun 4, 2012 5:19am
Quoting infinitus
extended move can bring 2482, but I think 2451 is the max in this move
I'm inclined to agree. The thin markets are making me slightly hesitant, though. Could have our answer soon.

Gold is now coming back to an interesting level, too. 1630 has to go, or every rule in my book says go short.
  • #93,950
  • Jun 4, 2012 5:21am Jun 4, 2012 5:21am
Quoting kenfen69
I'm inclined to agree. The thin markets are making me slightly hesitant, though. Could have our answer soon.

Gold is now coming back to an interesting level, too. 1630 has to go, or every rule in my book says go short.
1637 short?
  • #93,951
  • Jun 4, 2012 5:27am Jun 4, 2012 5:27am
london traders are mo mo's
  • #93,952
  • Jun 4, 2012 5:28am Jun 4, 2012 5:28am
Quoting Monroe
1637 short?
Tempting, alright!

Two things I would be eying. If it breaks out, get short a little higher...1642ish. OR...wait for a retest toward 1630 after the BO and go long on a hold. Actually...one more would be: A bastard fakie. Get short 1633/4ish (with a candle).

One thing is for certain right now: coffee before NYC.
  • #93,953
  • Jun 4, 2012 5:31am Jun 4, 2012 5:31am
Quoting kenfen69
Tempting, alright!

Two things I would be eying. If it breaks out, get short a little higher...1642ish. OR...wait for a retest toward 1630 after the BO and go long on a hold. Actually...one more would be: A bastard fakie. Get short 1633/4ish (with a candle).

One thing is for certain right now: coffee before NYC.
absolutely on the coffee... and, yea gotta love the break retest go if you get it, but yea around 1630/40 is a tempting quickie short... we'll see what happens.

my eyes will be on these wires...
  • #93,954
  • Jun 4, 2012 5:32am Jun 4, 2012 5:32am
Quoting fxjawn
london traders are mo mo's
Wearing their Muumuus on their two days off...lucky bastards!
  • #93,955
  • Jun 4, 2012 5:37am Jun 4, 2012 5:37am
if this whole trading thing does not work out i want to become a jockey
  • #93,956
  • Jun 4, 2012 5:40am Jun 4, 2012 5:40am
Quoting kenfen69
Very nice, mate!

Wow...option a) doesn't sound fun! How does Prechter sleep at night with that one in his head!?!

b & c pointing the same direction. What about seb? Are you guy's on similar counts?


I think Prechter can sleep good, because, like I know him, he has now the capital in USD

You can follow Seb's count on his new blog at http://elliottfxtrader.blogspot.de/


Here is Seb's weekly chart
Attached Image (click to enlarge)
Click to Enlarge Name: Sebs eurusd ew weekly.jpg Size: 77 KB
  • #93,957
  • Jun 4, 2012 5:41am Jun 4, 2012 5:41am
Quoting kenfen69
Wearing their Muumuus on their two days off...lucky bastards!
must be busy spreading marmite on their toast and looking for creme for the tea
  • #93,958
  • Jun 4, 2012 5:42am Jun 4, 2012 5:42am
Quoting kenfen69
I'm inclined to agree. The thin markets are making me slightly hesitant, though. Could have our answer soon.

Gold is now coming back to an interesting level, too. 1630 has to go, or every rule in my book says go short.
I think we will manage to finish an upside impulse as part of an ABC

target may be around 1650
  • #93,959
  • Jun 4, 2012 5:43am Jun 4, 2012 5:43am
Quoting Monroe
absolutely on the coffee... and, yea gotta love the break retest go if you get it, but yea around 1630/40 is a tempting quickie short... we'll see what happens.

my eyes will be on these wires...
I actually had bang on 1637 on Friday as a good level. But...I have an ascending TL and another trigger is a moving target and has crept higher since the open.

Finger will be on the trigger around 37...Defcon 1 ...but would like that little bit higher. I try to avoid as much DD as possible on Gold.

I'm still eying 1630 though, first. Doesn't give? I must short.
  • #93,960
  • Jun 4, 2012 5:44am Jun 4, 2012 5:44am
so far missed my entry by 1 pip
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