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  • #2,181
  • Oct 15, 2012 1:06am Oct 15, 2012 1:06am
scope for a pull back to 2932 here... this would be healthy for the uptrend and not signal weakness.
  • #2,182
  • Oct 15, 2012 1:19am Oct 15, 2012 1:19am
Quoting Crassius
scope for a pull back to 2932 here... this would be healthy for the uptrend and not signal weakness.
Hope u rite
  • #2,183
  • Oct 15, 2012 1:22am Oct 15, 2012 1:22am
Reportedly there are buy stops above 2960... if we trip those that should be the capitulation for short term bears.
  • #2,184
  • Oct 15, 2012 2:27am Oct 15, 2012 2:27am
Short term pull back scope should be limited to 2941 at the moment.... then one more push higher before a larger corrective move.
  • #2,185
  • Edited 5:00am Oct 15, 2012 3:57am | Edited 5:00am
Current Elliott count I am working from... 7 AM EST. The red wave iii may or may not be in already.... it could go higher, but it meets common fib proportions already.

The eventual rise to red degrees wave V will also be the end of a higher degree Green wave III and that would be a place to take some profit, as once green III is in, a larger corrective wave IV in the Green degree would follow before more upside.
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  • #2,186
  • Oct 15, 2012 6:53am Oct 15, 2012 6:53am
At the mercy of US equities for now... S&P 500 sitting on hourly support... its earnings season so any earnings surprises could weigh us down....

Breaking 2940 would be negative....
  • #2,187
  • Oct 15, 2012 7:07am Oct 15, 2012 7:07am
Quoting Crassius
At the mercy of US equities for now... S&P 500 sitting on hourly support... its earnings season so any earnings surprises could weigh us down....

Breaking 2940 would be negative....
2925 should catch 61.8% retrace if 2940 breaks.....
  • #2,188
  • Oct 15, 2012 7:30am Oct 15, 2012 7:30am
Looking to add to longs @ 2925
  • #2,189
  • Edited 8:25am Oct 15, 2012 8:18am | Edited 8:25am
Pull back that took out 2940 too deep for the previous count to hold. This is my new count.... very bullish putting us inside a wave 3 in 3 degrees.
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  • #2,190
  • Oct 15, 2012 11:23pm Oct 15, 2012 11:23pm
Bullish count playing out well so far... we are tapping on the door to 1.3000, where I am sure official sellers like the SNB are pouring on the supply.

We are inside a wave three, inside a wave three of the next higher degree, and inside a wave three of a larger degree that would only be traded by position traders.

In the smallest degree, targets to end wave three are:

3017
3058
3072

In the next higher degree, wave three termination targets are:

3052
3137
3153

Wave three of course is usually the longest best money making wave to be in. The larger degree is a swing trading scale.
  • #2,191
  • Oct 16, 2012 12:06am Oct 16, 2012 12:06am
monring,

shorting EU here at 1.3000

big number, sits between 62& 78% of the retrace 1.307x to 1.282x swing, and held out the last couple of times.
  • #2,192
  • Oct 16, 2012 12:08am Oct 16, 2012 12:08am
Interesting that R2 falls at 3027... that is on top of a very long term falling trend line today.

I will be booking partial profits at 3025.... hanging on to rest targeting 3150.... may reload on a retrace.
  • #2,193
  • Oct 16, 2012 12:09am Oct 16, 2012 12:09am
Quoting MaxDoom
monring,

shorting EU here at 1.3000

big number, sits between 62& 78% of the retrace 1.307x to 1.282x swing, and held out the last couple of times.

Nice to see you back Max.... its been lonely holding down the fort waiting for Tom's return...
  • #2,194
  • Oct 16, 2012 12:14am Oct 16, 2012 12:14am
Quoting Crassius
Nice to see you back Max.... its been lonely holding down the fort waiting for Tom's return...
thanks, been busy here there and everywhere, still am really

did Tom say when he would be back?
  • #2,195
  • Oct 16, 2012 12:17am Oct 16, 2012 12:17am
Quoting MaxDoom

did Tom say when he would be back?

Monday
  • #2,196
  • Oct 16, 2012 12:35am Oct 16, 2012 12:35am
Quoting Crassius
Monday
excellent

90 seems to be the current sticking point downwards
  • #2,197
  • Oct 16, 2012 1:20am Oct 16, 2012 1:20am
Quoting MaxDoom
monring,

shorting EU here at 1.3000

big number, sits between 62& 78% of the retrace 1.307x to 1.282x swing, and held out the last couple of times.
Good on ya Max
  • #2,198
  • Oct 16, 2012 2:54am Oct 16, 2012 2:54am
Just booked 100 pips profit on 1/3rd the position @ 1.3000... we bounced hard off a fib cluster after getting within a couple pips of the first Elliott target of 3017.

The trend remains strongly up, and I'll hold the rest targeting 3150...

3050 has a confluence of resistance around it, so it will be hard to get over that... prolly take another third off there and hold the rest for a home run at 3150.

Subject to change with market conditions of course....
  • #2,199
  • Oct 16, 2012 3:41am Oct 16, 2012 3:41am
There should be a big ass pile of stops above 3025 if we can overcome all this SNB selling to trip them..... if tripped should lead us to the weekly R1 @ 3048, where I have another partial profit taking order....

Hopefully the NY boys will target those stops..... if not maybe tomorrow...
  • #2,200
  • Oct 16, 2012 4:48am Oct 16, 2012 4:48am
Quoting Crassius
... prolly take another third off there and hold the rest for a home run at 3150.

Booked another 1/3rd @3048 +148 pips.... holding onto the rest... lot of resistance confluences at 3050.... going for 3150 with the rest.
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