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  • #7,321
  • Feb 6, 2013 3:44am Feb 6, 2013 3:44am
EU: "Unconcerned by his rejection of her advances, she puts her red dress on and approaches again"

3rd time lucky perhaps?
cryptocurrency everytime
  • #7,322
  • Feb 6, 2013 3:45am Feb 6, 2013 3:45am
Couldn't figure out windows. More of a Mac person now.
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  • #7,323
  • Feb 6, 2013 3:52am Feb 6, 2013 3:52am
I Think We Must Not Forget Luis`s Chart On SPX500 ! http://stocktwits.com/message/11766787
Quoting venzen
EU: "Unconcerned by his rejection of her advances, she puts her red dress on and approaches again"

3rd time lucky perhaps?
  • #7,324
  • Feb 6, 2013 3:52am Feb 6, 2013 3:52am
Aaaaannd it's upside down. Shows how much of a picture person I am I guess.
  • #7,325
  • Feb 6, 2013 3:54am Feb 6, 2013 3:54am
Quoting xfatboi
Couldn't figure out windows. More of a Mac person now.
Thanks for this! I'm not on Windows either, but I think you can press the PrtSc button on the keyboard
cryptocurrency everytime
  • #7,326
  • Feb 6, 2013 4:03am Feb 6, 2013 4:03am
Quoting xfatboi
Aaaaannd it's upside down. Shows how much of a picture person I am I guess.
No problem, easily fixed with rotate function in image viewer.

OK, yep, pivot points. I use daily, weekly, monthly and yearly pivot levels - with more importance given to those that coincide with Fib levels.

Oanda fxTrade has a crappy Pivot point function which I prefer not to use 'coz it obscures price action.

Thanks again for the effort. Try putting some weekly and monthly pivots on price and look at a daily or weekly chart - price ALWAYS returns to a pivot eventually - this is the central premis of Mean Reversion which underlies Fib retracement and projection too.
cryptocurrency everytime
  • #7,327
  • Feb 6, 2013 4:32am Feb 6, 2013 4:32am
Quoting venzen
No problem, easily fixed with rotate function in image viewer.

OK, yep, pivot points. I use daily, weekly, monthly and yearly pivot levels - with more importance given to those that coincide with Fib levels.

Oanda fxTrade has a crappy Pivot point function which I prefer not to use 'coz it obscures price action.

Thanks again for the effort. Try putting some weekly and monthly pivots on price and look at a daily or weekly chart - price ALWAYS returns to a pivot eventually - this is the central premis of Mean Reversion which underlies Fib...
oanda isnt connected to anything on that chat. its mt4. oanda is just the the broker i use.
  • #7,328
  • Edited 4:52am Feb 6, 2013 4:52am | Edited 4:52am
Quoting xfatboi
oanda isnt connected to anything on that chat. its mt4. oanda is just the the broker i use.
No, no, its me who's using oanda fxTrade I see you're on MT4 which has better coding and customization features but poor execution time (i heard). How's that for you?

BTW - Dow futures attacking (from above after overshooting) the upper TL of its recent ending diagonal...
cryptocurrency everytime
  • #7,329
  • Feb 6, 2013 5:21am Feb 6, 2013 5:21am
Very difficult to determine much with clarity lately, but fwiw, i have an idea for EU where we are now in 'C' of an X wave, (yesterday was abc 'B') and we should now be in 5th of wave 1 (of 'C')...

I will stress i really don't like its behaviour, so this is merely what i have observed;

Firstly, yesterday abc;

http://i1168.photobucket.com/albums/...5m06-02-13.png

and now today back to impulsive (i think);

http://i1168.photobucket.com/albums/...m06-02-13a.png
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  • #7,330
  • Feb 6, 2013 5:32am Feb 6, 2013 5:32am
this mornings PA on EU is shocking to say the least! If this is a 5th, it sure don't feel like it... )
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  • #7,331
  • Feb 6, 2013 5:39am Feb 6, 2013 5:39am
Quoting The Cableguy
this mornings PA on EU is shocking to say the least! If this is a 5th, it sure don't feel like it... )
Hi CG, yes, very confusing PA and I can only surmise that we are witnessing the ends of upward corrections (B waves of flats, etc) in most markets which is characterized by mania and denial, hence the loopy chart patterns...

Thanks for the charts, we can all work from there for consensus...
cryptocurrency everytime
  • #7,332
  • Feb 6, 2013 5:43am Feb 6, 2013 5:43am
I'm presuming the last two charts were obvious as to what i meant, but just in case, here's an overall picture of what im basing it on;

http://i1168.photobucket.com/albums/...1h06-02-13.png
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  • #7,333
  • Feb 6, 2013 5:45am Feb 6, 2013 5:45am
Of course there's not much stopping being a complete trend change to down (and thus 5w instead of 3), but one step at a time!
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  • #7,334
  • Feb 6, 2013 5:54am Feb 6, 2013 5:54am
Quoting The Cableguy
I'm presuming the last two charts were obvious as to what i meant, but just in case, here's an overall picture of what im basing it on;
Good chart. Contextualized everything well.

the current move down is not clearly impulsive nor is it obviously 3 waves, so we have to wait I guess. Everytime I suspect the move to actually be 3 waves it makes an impulse down.

In the EJ there is a 1 or 2 pip overlap of subwaves 1 and 4 in wave 1 down, - that is a concern - plus the current drawn out sideways move in EU and EJ is out of place for a "right look" impulse...

Everybody, my ability to label charts is limited by my platform, so please bear with my written explanations until I sort that out
cryptocurrency everytime
  • #7,335
  • Feb 6, 2013 6:00am Feb 6, 2013 6:00am
Unless that wave overlap in wave 1 is a 1-2 1-2 which means we have a longer way down
cryptocurrency everytime
  • #7,336
  • Feb 6, 2013 6:08am Feb 6, 2013 6:08am
I prefer to think that one is on a different count and is an abc, (completed at 08:05 am), a fresh low obviously negates... its as if everything is struggling to go down right now, maybe once the EU can make a shallow 5th, we can retrace upwards with the Yen still to make a HH. I think cable needs to go up in a 5w 'C' before starting a huge drop...

*edit* 38.2% for EU at 13,517 might even be a slight truncation...
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  • #7,337
  • Feb 6, 2013 6:10am Feb 6, 2013 6:10am
Morning Notes:

EURUSD cycle from 1.2994 has completed which shifts focus on 1.3352 ( 50 fib ). $USDX and $USDCHF are also correcting the decline from 80.87 and 93.90 respectively. $GBPUSD has broken below 1.5670 and will either do a FLAT or make another low to complete the Ending Diagonal. $AUDUSD broke lower as expected after completing wave (( iv )) triangle and can reach as low as 1.0295. Traders need to wait for a 5w move up if wishing to go long as corrective recoveries will lead to more weakness. $NZDUSD is still bullish for 0.8515 after a 3w pullback with ideal support between 0.8356 – 0.8382. $HG_F (Copper) is close to ending its cycle but can see another high to resolve a nest at start of the move from 3.64. $USDJPY is still bullish and needs a ( b ) wave pullback and another leg higher to complete a diagonal wave ( v ) / ( W ), expect price to stay above H1 uptrend line as it continues higher. $SPX and $DJIA can see further strength during $IBEX wave ( B ) pullback as their recent lows labeled wave (( iv )) / (iv) on the charts continue to hold

See you later
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,338
  • Feb 6, 2013 6:36am Feb 6, 2013 6:36am
Quoting Luis Carlos
Morning Notes:

EURUSD cycle from 1.2994 has completed which shifts focus on 1.3352 ( 50 fib ). $USDX and $USDCHF are also correcting the decline from 80.87 and 93.90 respectively. $GBPUSD has broken below 1.5670 and will either do a FLAT or make another low to complete the Ending Diagonal. $AUDUSD broke lower as expected after completing wave (( iv )) triangle and can reach as low as 1.0295. Traders need to wait for a 5w move up if wishing to go long as corrective recoveries will lead to more weakness. $NZDUSD is still bullish for 0.8515 after...

so what are your expectations to eurusd my point of view is going down to the level of 1.28 ____and you?
  • #7,339
  • Feb 6, 2013 6:53am Feb 6, 2013 6:53am
Ref;

http://i1168.photobucket.com/albums/...m06-02-13a.png

I got reaction at both 38.2% (13,517) & 50% (13,507), so am very confident to call this a 5w short, we may still head lower as the 5th is not very easy to follow wave structure. However, later we will go up in an ABC wave 2, as per prev;
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  • #7,340
  • Feb 6, 2013 7:05am Feb 6, 2013 7:05am
Quoting The Cableguy
I got reaction at both 38.2% (13,517) & 50% (13,507), so am very confident to call this a 5w short, we may still head lower as the 5th is not very easy to follow wave structure. However, later we will go up in an ABC wave 2, as per prev;
I somehow expected a truncation at 1.3517 because of the reluctance to go down. But PA just hit 1.350

let's see what happens next and try and make sense from the subsequent correction...
cryptocurrency everytime
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