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  • #721
  • Jul 23, 2012 8:07am Jul 23, 2012 8:07am
Check PM boys please, democracy time
swing it!
  • #722
  • Jul 23, 2012 8:11am Jul 23, 2012 8:11am
Quoting MaxDoom
my thoughts are still to the downside unless we see 1.2160
We are firmly in the first target zone now 1.211x to 1.206x.
I have a second target zone at 1.198x to 1.196x.
it reached the far side of my 1st target zone, shed a little there.

looking for this retrace to be limited to 1.209x so I can increase positions again and focus on 2nd target zone
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  • #723
  • Jul 23, 2012 8:39am Jul 23, 2012 8:39am
how far will we correct?

The move down today made a neat 5 wave series, and completed a 1st target hit on a larger series (H4).

this leaves the door open for a simple ABC correction of the move down from 1.213x.

target zone for this correction stretches up to 1.209x so looking for it to be contained there but at the outside 1.211x

If that occurs I will look for a test of the low and focus on the earlier mention 2nd target zone.
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  • #724
  • Jul 23, 2012 8:44am Jul 23, 2012 8:44am
Quoting MaxDoom
how far will we correct?

The move down today made a neat 5 wave series, and completed a 1st target hit on a larger series (H4).

this leaves the door open for a simple ABC correction of the move down from 1.213x.

target zone for this correction stretches up to 1.209x so looking for it to be contained there but at the outside 1.211x

If that occurs I will look for a test of the low and focus on the earlier mention 2nd target zone.
Nice spot, could attack recent high, yours 1,211x lower tf's shows weakness - we should see something by 3pm

And 1,2150 still out there not out of the question
swing it!
  • #725
  • Jul 23, 2012 9:03am Jul 23, 2012 9:03am
should be not finished yet
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If there was easy money lying around,no one would be forcing it into your
  • #726
  • Jul 23, 2012 9:38am Jul 23, 2012 9:38am
Good day to you,

I need this to go higher....

Someone give the Europeans some breathing space...

Pretty please

Regards
  • #727
  • Jul 23, 2012 9:42am Jul 23, 2012 9:42am
good morning/afternoon all, new here, thank you Tom for let me be in.

I want to see gap closed. Long atm. pending sell @ 1.2165
  • #728
  • Jul 23, 2012 9:44am Jul 23, 2012 9:44am
Quoting FxCba
good morning/afternoon all, new here, thank you Tom for let me be in.

I want to see gap closed. Long atm. pending sell @ 1.2165
welcome.
  • #729
  • Jul 23, 2012 9:53am Jul 23, 2012 9:53am
Quoting TauTrader
Good day to you,

I need this to go higher....

Someone give the Europeans some breathing space...

Pretty please

Regards

I would prefer to see 1.2120 to hold, but if not 1.216x may get a look in
  • #730
  • Jul 23, 2012 10:01am Jul 23, 2012 10:01am
Quoting MaxDoom
I would prefer to see 1.2120 to hold, but if not 1.216x may get a look in
good day to you, sir

Now looking better... 1.2120 is the area...1.2160 would be awesome..

Regards
  • #731
  • Jul 23, 2012 10:17am Jul 23, 2012 10:17am
Quoting TauTrader
good day to you, sir

Now looking better... 1.2120 is the area...1.2160 would be awesome..

Regards
Good day to you,

Intermediate setup will have to see 1.21334 taken in the near future.

Could well continue to close 1.21543

Regards
  • #732
  • Jul 23, 2012 10:19am Jul 23, 2012 10:19am
Quoting TauTrader
Good day to you,

Intermediate setup will have to see 1.21334 taken in the near future.

Could well continue to close 1.21543

Regards
looks like she may have topped out having just taken out the 78% correction of the move down - which is normally a max for a correction.

added some more shorts in the zone anyway
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  • #733
  • Jul 23, 2012 10:44am Jul 23, 2012 10:44am
Quoting MaxDoom
looks like she may have topped out having just taken out the 78% correction of the move down - which is normally a max for a correction.

added some more shorts in the zone anyway
Good day to you,

Scalping only?

Regards
  • #734
  • Jul 23, 2012 11:00am Jul 23, 2012 11:00am
Quoting TauTrader
Good day to you,

Scalping only?

Regards

not really, depends on your definition. I tend to take what I call high probability moves from recent action using elliot and fibs mainly to project targets.

So some trades maybe for just 20-30 pips others 200 just depends on what timeframes I get the best setups

so I closed my shorts from a while earlier for only +5 because the PA was riding up.

Now I am looking to see how far up on M5 TF it could easily get and I see two targets zones 1.2135 to 1.2145 or at a push 1.216x which I won't trade from this starting position. But will look to short again from
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  • #735
  • Jul 23, 2012 11:10am Jul 23, 2012 11:10am
Quoting MaxDoom
not really, depends on your definition. I tend to take what I call high probability moves from recent action using elliot and fibs mainly to project targets.

So some trades maybe for just 20-30 pips others 200 just depends on what timeframes I get the best setups

so I closed my shorts from a while earlier for only +5 because the PA was riding up.

Now I am looking to see how far up on M5 TF it could easily get and I see two targets zones 1.2135 to 1.2145 or at a push 1.216x which I won't trade from this starting position. But will look...
I'm also of this thinking. I'm still looking for a gap close. It doesn't have to happen, but it almost always does, and PA seems to be meandering in that direction.

Going to grab a short at the 1.2180 / 1.2200 level. 1.2200 coincides very smoothly with the 50% fib level for the 1.23250 July19th high to our new low here.

Gold seems to be recovering, which was expected if you look at the daily chart coiling.

AUD is looking hopeless. I'm thinking we could be seeing the start of a relief rally on EUR/AUD. Target is still down, obviously, but it could use a breather.
  • #736
  • Jul 23, 2012 11:13am Jul 23, 2012 11:13am
Quoting C5fx
I'm also of this thinking. I'm still looking for a gap close. It doesn't have to happen, but it almost always does, and PA seems to be meandering in that direction.

Going to grab a short at the 1.2180 / 1.2200 level. 1.2200 coincides very smoothly with the 50% fib level for the 1.23250 July19th high to our new low here.

1.22 seems so far away at the moment
  • #737
  • Jul 23, 2012 11:13am Jul 23, 2012 11:13am
Wonder if this is it or should I wrap my party for now, sterling rolling over, aussie showing some weakness as well, oil at resistance I want SP to follow as I am selling from 1337,65

http://s15.postimage.org/vzb1v2h9n/euro.gif
image upload
swing it!
  • #738
  • Jul 23, 2012 11:17am Jul 23, 2012 11:17am
Quoting MaxDoom
1.22 seems so far away at the moment
Yeah, I think it's unlikely that we'll reach there, but if we do I have a PO there, as it seems like a lot of value if there is a surge to close the gap that causes some fake upward momentum.
  • #739
  • Jul 23, 2012 11:20am Jul 23, 2012 11:20am
Quoting tomspin
Wonder if this is it or should I wrap my party for now, sterling rolling over, aussie showing some weakness as well, oil at resistance I want SP to follow as I am selling from 1337,65

http://s15.postimage.org/vzb1v2h9n/euro.gif
image upload
Aussie is definitely looking weak. I closed some E/A shorts I was holding earlier. A/U is sitting on a nice support level, but it isn't exactly rejecting it. It seems likely that it will slip through it.
  • #740
  • Jul 23, 2012 11:23am Jul 23, 2012 11:23am
Quoting tomspin
Wonder if this is it or should I wrap my party for now, sterling rolling over, aussie showing some weakness as well, oil at resistance I want SP to follow as I am selling from 1337,65
I wil be taking the short if it shows signs of turning back down

I am also short on Dax at the moment
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