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  • #701
  • Aug 20, 2012 7:00am Aug 20, 2012 7:00am
Quoting Luis Carlos
Hi Medici:

I see that move from 1.50 as a corrective...So we have 7 swings until (W) and we need 7 more from (X). With that in mind we are doing the sixth swing and I need to see one more down to finish the correction. Also I would like to see break the 40.20 RSI level to think in a bull market, but even better the 50 RSI level...
Thanks Luis, very interesting Who originated the idea with 7 counts? Not well read enough...but I've been getting by with what I know

And you may very well be right, which then could coincide with one of the scenarios from my post with a new low this week or next.
  • #702
  • Aug 20, 2012 8:02am Aug 20, 2012 8:02am
Quoting medici
Thanks Luis, very interesting Who originated the idea with 7 counts? Not well read enough...but I've been getting by with what I know

And you may very well be right, which then could coincide with one of the scenarios from my post with a new low this week or next.
7 Swings is the most common corrective pattern that is A-B-W-X-A-B-Y, there are the 7 swings and each swing could divide in 3 or 5 waves...So when we finish the sixth swing I am expecting 3 or 5 waves down.
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #703
  • Aug 20, 2012 8:21am Aug 20, 2012 8:21am
Quoting Luis Carlos
7 Swings is the most common corrective pattern that is A-B-W-X-A-B-Y, there are the 7 swings and each swing could divide in 3 or 5 waves...So when we finish the sixth swing I am expecting 3 or 5 waves down.
Thank you for explaining Just to clarify, are you referring to waves on the weekly chart?
  • #704
  • Aug 20, 2012 8:30am Aug 20, 2012 8:30am
Quoting medici
Thank you for explaining Just to clarify, are you referring to waves on the weekly chart?
Swings on weekly, waves 4h or lower
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #705
  • Aug 20, 2012 8:45am Aug 20, 2012 8:45am
just drop in here and said..hi luis...miss and love yo
If there was easy money lying around,no one would be forcing it into your
  • #706
  • Aug 20, 2012 10:53am Aug 20, 2012 10:53am
Quoting Luis Carlos
My Aussie first target for tuesday is in the area 1.0325 - 1.0350
why do say that level luis?

au needs to close fully below the 1.0420 if not we will retrace again towards weekly pivot 1.0472 and max 1.0539. I guess we are not finish the retracement from friday's bottom
i'm still bearish on this pair but see this retracement as completion of this left side of right shoulder.
Wooooohooooo or Boooooohooooo
  • #707
  • Aug 20, 2012 11:10am Aug 20, 2012 11:10am
Quoting Luis Carlos
If you like Bull Euro, a entry should be 1.2385, target 1.2480
here's what i wrote aug 2nd...

http://www.forexfactory.com/showthre...46#post5898946

i don't want to see this but it's pointing to that direction as we get closer to the end of this month.

i see that the action is more bullish but i still see this happening with all the lack of news this month
Wooooohooooo or Boooooohooooo
  • #708
  • Edited 12:17pm Aug 20, 2012 11:17am | Edited 12:17pm
Quoting Luis Carlos
Hi Medici:

I see that move from 1.50 as a corrective...So we have 7 swings until (W) and we need 7 more from (X). With that in mind we are doing the sixth swing and I need to see one more down to finish the correction. Also I would like to see break the 40.20 RSI level to think in a bull market, but even better the 50 RSI level...
I agree it needs one more down but from where.

1.2443 is one level and if above 1.2609 upto 1.2676 max is where it can be.( Gann @ 1.2685)

It would be nice to go impulse down right from here otherwise it is a painful jouney to 1.26xx...limit for the upside I have is 1.2723.

Every other level in between 1.2444 and 1.26xx is just a retrace...IMO..

For Bullish scenario first alarming level I have is 1.2396 then 1.2429.

http://screencast.com/t/d1Wn68ZKcw

Attached Image (click to enlarge)
Click to Enlarge Name: Triple Correction.png Size: 96 KB
Markets are not Random, they are designed!
  • #709
  • Aug 20, 2012 11:18am Aug 20, 2012 11:18am
eur/aud

I like this one as a long
target for now weeklypivot 1.1910
first of august was the turn from bearish to bullish about same time eu has turned also.
took position 1.1810
Wooooohooooo or Boooooohooooo
  • #710
  • Aug 20, 2012 1:58pm Aug 20, 2012 1:58pm
Quoting gnomoneey
why do say that level luis?

au needs to close fully below the 1.0420 if not we will retrace again towards weekly pivot 1.0472 and max 1.0539. I guess we are not finish the retracement from friday's bottom
i'm still bearish on this pair but see this retracement as completion of this left side of right shoulder.
I always follow my targets looking the worst scenario. If this whole move is just a correction I am looking for a wave C, that is because that level... Maybe you are right that the correction is not finish and get @1.0490 first, but forget the H&S the pattern is correct using the whites necklines I drew, Red necklibe is wrong. Maybe go up and people said that is the H&S, but it is no good, H&S is not just a pattern has his psyco and supply demand reason...
Now the market broke the neck and retested..
Attached Image (click to enlarge)
Click to Enlarge Name: aus4h.png Size: 44 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #711
  • Aug 20, 2012 2:04pm Aug 20, 2012 2:04pm
Quoting Raza
I agree it needs one more down but from where.

1.2443 is one level and if above 1.2609 upto 1.2676 max is where it can be.( Gann @ 1.2685)

It would be nice to go impulse down right from here otherwise it is a painful jouney to 1.26xx...limit for the upside I have is 1.2723.

Every other level in between 1.2444 and 1.26xx is just a retrace...IMO..

For Bullish scenario first alarming level I have is 1.2396 then 1.2429.

http://screencast.com/t/d1Wn68ZKcw

From where is a tough question we are in corrective mode...
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #712
  • Aug 20, 2012 2:05pm Aug 20, 2012 2:05pm
Quoting gnomoneey
eur/aud

I like this one as a long
target for now weeklypivot 1.1910
first of august was the turn from bearish to bullish about same time eu has turned also.
took position 1.1810
yes, I like too as a long
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #713
  • Aug 20, 2012 6:04pm Aug 20, 2012 6:04pm
http://www.forexfactory.com/showthre...369574&page=46

I think the triangle is working out...
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #714
  • Aug 20, 2012 6:43pm Aug 20, 2012 6:43pm
Maybe a triangle inside a triangle... Sell limit at 1.2375
Attached Image (click to enlarge)
Click to Enlarge Name: eu1h.png Size: 68 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #715
  • Aug 20, 2012 6:49pm Aug 20, 2012 6:49pm
Aussie setup as a book
Attached Image (click to enlarge)
Click to Enlarge Name: aussie4h.png Size: 46 KB
Attached Image
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #716
  • Aug 20, 2012 6:53pm Aug 20, 2012 6:53pm
Quoting FXMindset
just drop in here and said..hi luis...miss and love yo
Ty Ricky!!!
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #717
  • Aug 20, 2012 7:39pm Aug 20, 2012 7:39pm
Attached Image (click to enlarge)
Click to Enlarge Name: eulinechart.gif Size: 21 KB
Quoting Luis Carlos
Maybe a triangle inside a triangle... Sell limit at 1.2375
i'm getting very irritated with this pair....but analyze and analyze and maybe it will breakout soon.

h4 chart
we are at the median (dotted green in middle of triangle)
drew triangle thru line chart peaks. trend line in blue
- eu penetrated the upper trendline and let's see if it keeps going up

red trendline is the peaks for candle chart...on this we are hitting resistance and we are still unable to determine direction.
- 4 times hitting resistance
-4 times hitting support

did i tell you i hate this pair this month...
Wooooohooooo or Boooooohooooo
  • #718
  • Aug 20, 2012 7:52pm Aug 20, 2012 7:52pm
Quoting gnomoneey
Attachment

i'm getting very irritated with this pair....but analyze and analyze and maybe it will breakout soon.

h4 chart
we are at the median (dotted green in middle of triangle)
drew triangle thru line chart peaks. trend line in blue
- eu penetrated the upper trendline and let's see if it keeps going up

red trendline is the peaks for candle chart...on this we are hitting resistance and we are still unable to determine direction.
- 4 times hitting resistance
-4 times hitting support

did i tell you i hate this pair...
Just put your short close your computer and open it on Octuber
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #719
  • Aug 20, 2012 7:57pm Aug 20, 2012 7:57pm
Quoting Luis Carlos
Just put your short close your computer and open it on Octuber
luis,

the problem is i'm looking at alot of the euro pairs and euro is looking bullish but E/U is not responding accordingly..this is why im not trading this pair until september...
Wooooohooooo or Boooooohooooo
  • #720
  • Aug 20, 2012 8:10pm Aug 20, 2012 8:10pm
Quoting Luis Carlos
Aussie setup as a book
sorry cant read the chart. According to your views what level is this move up going to end before dropping?

i'm still bearish for now but that also means that eu is bearish...so confused this week...i'm starting to realize that i might take the week off in trading and sit on my hands.
Wooooohooooo or Boooooohooooo
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