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  • #680,781
  • Aug 16, 2012 8:14am Aug 16, 2012 8:14am
Sell the rallies.
Short 1.2329.
  • #680,782
  • Aug 16, 2012 8:16am Aug 16, 2012 8:16am
that news was not positive for usd?
  • #680,783
  • Aug 16, 2012 8:17am Aug 16, 2012 8:17am
Yesterday you said something about Wave 3 retracement, in prep for a further Wave 5 down (sorry, I might have the terminology wrong..I'm not an EW follower)


My question - the market went flatline just after that post, as I believe it was near the end of London session. Are you still expecting this to occur?

Edit *** Nevermind - just looked back on the 15m and saw that it did this already round 8pm my time.
  • #680,784
  • Aug 16, 2012 8:23am Aug 16, 2012 8:23am
Short from 2328 tp 2305
  • #680,785
  • Aug 16, 2012 8:23am Aug 16, 2012 8:23am
Well it did bounce off the rising channel support that started at 1.2040 - 1.2136 - 1.2261. Whether this move will get faded is another matter.
  • #680,786
  • Aug 16, 2012 8:28am Aug 16, 2012 8:28am
I had EURUSD Buy 1.228, closed it now at 1.232, so that's it for me . Will go Short on GBP if it reach 1.574.

Green trades for all !
  • #680,787
  • Aug 16, 2012 8:28am Aug 16, 2012 8:28am
Quoting am-draci
that news was not positive for usd?
Technical is much stronger than fundamental
You cannot learn better without losing
  • #680,788
  • Aug 16, 2012 8:29am Aug 16, 2012 8:29am
Quoting almo
Yesterday you said something about Wave 3 retracement, in prep for a further Wave 5 down (sorry, I might have the terminology wrong..I'm not an EW follower)


My question - the market went flatline just after that post, as I believe it was near the end of London session. Are you still expecting this to occur?
Hit wave 5 of wave 1 of a higher wave 3 overnight (3am ET) now in corrective wave 2 of higher wave 3:
Attached Image (click to enlarge)
Click to Enlarge Name: EU H1.png Size: 27 KB
  • #680,789
  • Aug 16, 2012 8:30am Aug 16, 2012 8:30am
...
Attached Image (click to enlarge)
Click to Enlarge Name: euh1.jpg Size: 201 KB
  • #680,790
  • Aug 16, 2012 8:31am Aug 16, 2012 8:31am
Quoting SunTrader
Hit wave 5 of wave 1 of a higher wave 3 overnight (3am ET) now in corrective wave 2 of higher wave 3:
Ty Suntrader. I appreciate the help!
  • #680,791
  • Aug 16, 2012 8:32am Aug 16, 2012 8:32am
Bears should be looking at this consolodation at 2330-40

Going short here wud be a gud bet...
  • #680,792
  • Aug 16, 2012 8:34am Aug 16, 2012 8:34am
Quoting almo
Ty Suntrader. I appreciate the help!
One problem I see with my current analysis of being in a corrective wave 2 is long azz impulsive candles not looking corrective at all.

But short covering moves look exactly like that so who knows.

But if the count is correct look out below when wave 3 gets in gear.
Reverse the reversal.

Which BTW the Dow just did quickly reverse the up opening bar.
  • #680,793
  • Aug 16, 2012 8:36am Aug 16, 2012 8:36am
i'll wait for .2354 before any short....
  • #680,794
  • Aug 16, 2012 8:38am Aug 16, 2012 8:38am
looks like the spain news got some anxious shorts to cover their bond positions spiking a rally in eur/usd.
  • #680,795
  • Aug 16, 2012 8:39am Aug 16, 2012 8:39am
Quoting Nachiket
looks like the spain news got some anxious shorts to cover their bond positions spiking a rally in eur/usd.
Yeah, been watching that shit, namely 3 and 5yrs.
They think they are smarter than I am.
  • #680,796
  • Aug 16, 2012 8:39am Aug 16, 2012 8:39am
euro heading up. lol scenario
  • #680,797
  • Aug 16, 2012 8:40am Aug 16, 2012 8:40am
Quoting aamit
Bears should be looking at this consolodation at 2330-40

Going short here wud be a gud bet...
good bet if you look at the level, but not such a good one if you look at PA. Best when both agree..
  • #680,798
  • Aug 16, 2012 8:40am Aug 16, 2012 8:40am
Quoting Z3iz3i
Yeah, been watching that shit, namely 3 and 5yrs.
nothing to worry mate it will come back below 1.23 again,
  • #680,799
  • Aug 16, 2012 8:41am Aug 16, 2012 8:41am
reason: spain did not ask for help


when spain got 200 billion bailout it was up 4%

reason:spain finally agreed for help.

what a funny currency and country this
  • #680,800
  • Aug 16, 2012 8:43am Aug 16, 2012 8:43am
Quoting Nachiket
reason: spain did not ask for help


when spain got 200 billion bailout it was up 4%

reason:spain finally agreed for help.

what a funny currency and country this
They say there will be intervention in the bond market when Spain formally requests.. Not sure what that will do to the yuro, but if Spain asks for help, they will have to sign on the dotted line for austerity measures, and from that stand point it will be good for the cripple.

It seems spain is ready to do it rather sooner than later..
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