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  • #672,381
  • Jul 26, 2012 2:24pm Jul 26, 2012 2:24pm
Sold some more eu @ 1.2286

Maybe I should leave it for a month or 2 and take profit @ 1.16 or so.
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  • #672,382
  • Jul 26, 2012 2:27pm Jul 26, 2012 2:27pm
Quoting tomspin
You are buying top in the middle of nowhere - just my advice
...no hit 1.2288....i enter a buy 1.2283....thanks
  • #672,383
  • Jul 26, 2012 2:29pm Jul 26, 2012 2:29pm
Quoting dbutton1990
Seems to be bouncing off of "support" of 1.2275 and "resistance" of 1.2290...any ideas if this will break today?
Maybe not even this week, or just down to 1.2260 or so.
Or ........................
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  • #672,384
  • Jul 26, 2012 2:30pm Jul 26, 2012 2:30pm
@Drox : What do you think about that :

1- Wave 3 has not yet completed , due to the huge spike that pushed the price right to the 19 of July area. And we may see an ABC correction towards the highest closing price to penterate any price above 1.23600 and trying to crack the nearest resistance over there ?

2- Wave 2 and wave 4 will appear together maybe as retracement at 1.23240

The question is : Can this spike take a huge drop , combine with Wave four and 2 that will be at least 50 pips ! In a counter spike, buyers tend to be more worried then sellers to question a trend will go back or not !

If i was a buyer , i will be more worried then a seller to waste all the money i made yesterday on this ridiculous piece of news ..
"It's the Margin, Stupid."
  • #672,385
  • Jul 26, 2012 2:33pm Jul 26, 2012 2:33pm
Quoting KillerWhale
Sold some more eu @ 1.2286

Maybe I should leave it for a month or 2 and take profit @ 1.16 or so.
Just curious what was your reasoning for this?
Good luck and may the odds be ever in your favor!
  • #672,386
  • Jul 26, 2012 2:41pm Jul 26, 2012 2:41pm
EMA 5 crossed EMA12 on M15
  • #672,387
  • Jul 26, 2012 2:41pm Jul 26, 2012 2:41pm
crossed up
  • #672,388
  • Jul 26, 2012 2:58pm Jul 26, 2012 2:58pm
Quoting Vachus
@Drox : What do you think about that :

1- Wave 3 has not yet completed , due to the huge spike that pushed the price right to the 19 of July area. And we may see an ABC correction towards the highest closing price to penterate any price above 1.23600 and trying to crack the nearest resistance over there ?

2- Wave 2 and wave 4 will appear together maybe as retracement at 1.23240

The question is : Can this spike take a huge drop , combine with Wave four and 2 that will be at least 50 pips ! In a counter spike, buyers tend to be more...
Usually Elliot wave count is subjective you may see something else but i follow the following rules and in this case it is a text book match:

a) Wave 2 cannot exceed the beginning of Wave 1.
b) Wave 4 cannot make a daily close into the closing range of Wave 1.
c) Wave 3 cannot be the shortest in price of Waves 1, 3, and 5.
d) More often than not the waves 3 and 5 will form another 5 wave moves only waves 2 and 4 will form an ABC correction (because it is a counter trend move)

Having this in mind you can see my answer ,

1 If the price will close above 1,2405 than this will not be a wave 3 anymore, my projections already reached the 5 wave zone(1,2000) which was confirmd also by the 4th wave of 5 being taken .The longer time frame(monthly) is a strong support and could be breached after reaching first the 1,3000 resistance
  • #672,389
  • Jul 26, 2012 3:13pm Jul 26, 2012 3:13pm
somethins cookin in the kitchen
  • #672,390
  • Jul 26, 2012 3:29pm Jul 26, 2012 3:29pm
Quoting sidhujag
somethins cookin in the kitchen

? smell what the Rock is cookin
  • #672,391
  • Jul 26, 2012 4:07pm Jul 26, 2012 4:07pm
Quoting droox
Usually Elliot wave count is subjective you may see something else but i follow the following rules and in this case it is a text book match:

a) Wave 2 cannot exceed the beginning of Wave 1.
b) Wave 4 cannot make a daily close into the closing range of Wave 1.
c) Wave 3 cannot be the shortest in price of Waves 1, 3, and 5.
d) More often than not the waves 3 and 5 will form another 5 wave moves only waves 2 and 4 will form an ABC correction (because it is a counter trend move)

Having this in mind you can see my answer ,

1 If the price...
The funny part of wave theories is that no one ever seems to know in what wave we are in.
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  • #672,392
  • Jul 26, 2012 4:09pm Jul 26, 2012 4:09pm
Quoting KillerWhale
The funny part of wave theories is that no one ever seems to know in what wave we are in.
I disagree - everyone always knows which wave is the one that drowns them
  • #672,393
  • Jul 26, 2012 4:11pm Jul 26, 2012 4:11pm
Quoting KillerWhale
The funny part of wave theories is that no one ever seems to know in what wave we are in.
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  • #672,394
  • Jul 26, 2012 4:15pm Jul 26, 2012 4:15pm
Tomorrow is Friday and i expect a move to 1.24.
Maybe i'm wrong let's see.
  • #672,395
  • Jul 26, 2012 4:29pm Jul 26, 2012 4:29pm
Quoting almo
I disagree - everyone always knows which wave is the one that drowns them
The disruption happens due to news or rummers that may effect the markets, forcing it to move in irrational way ... otherwise , trends will always go up or down without corrections. Can you please tell me, how on any rational level of logic a few words of the ECB president can move the Euro market 200 points up ? The guy didn't speak about machnism or even real solutions to get the Euro out of its crisis ..

i really wonder if he made this statement " In one Month, ECB will buy all EU countries in debt or bonds. All austrity measures are not needed and Euro is Great " What would have happened ?
"It's the Margin, Stupid."
  • #672,396
  • Jul 26, 2012 4:33pm Jul 26, 2012 4:33pm
Quoting guernica
Tomorrow is Friday and i expect a move to 1.24.
Maybe i'm wrong let's see.
Usually after a big move on Thursday, there is very little movement on Friday.
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  • #672,397
  • Jul 26, 2012 4:39pm Jul 26, 2012 4:39pm
Quoting KillerWhale
Usually after a big move on Thursday, there is very little movement on Friday.
Well spoken - cation with
8:30amUSDAdvance GDP q/q
  • #672,398
  • Jul 26, 2012 4:43pm Jul 26, 2012 4:43pm
Quoting KillerWhale
The funny part of wave theories is that no one ever seems to know in what wave we are in.
very true.
  • #672,399
  • Jul 26, 2012 4:45pm Jul 26, 2012 4:45pm
Quoting almo
I disagree - everyone always knows which wave is the one that drowns them
big question is... if that's the right wave.
  • #672,400
  • Jul 26, 2012 4:49pm Jul 26, 2012 4:49pm
Quoting Vachus
The disruption happens due to news or rummers that may effect the markets, forcing it to move in irrational way ... otherwise , trends will always go up or down without corrections. Can you please tell me, how on any rational level of logic a few words of the ECB president can move the Euro market 200 points up ? The guy didn't speak about machnism or even real solutions to get the Euro out of its crisis ..

i really wonder if he made this statement " In one Month, ECB will buy all EU countries in debt or bonds. All austrity measures are not...
If this statment would have been made close to a very strong resistance or support then it could break through and make a big move but eventually will close below resistance/ above support: let's say a shooting star . (when fundamentals and technicals don't match). In a trend (when fundamentals and technicals meet) it could generate a move which will give momentum and continue the trend
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