But we need more
Wooooohooooo or Boooooohooooo
- #7,941
- Feb 20, 2013 1:48pm Feb 20, 2013 1:48pm
- Joined Mar 2012 | Status: Gold anyone | 6,524 Posts
Wooooohooooo or Boooooohooooo
- #7,942
- Feb 20, 2013 1:56pm Feb 20, 2013 1:56pm
- Joined Jun 2009 | Status: Trend Trader | 6,288 Posts
If you think you can or cannot do it you are correct
- #7,943
- Feb 20, 2013 2:13pm Feb 20, 2013 2:13pm
- | Joined Mar 2012 | Status: Trader | 1,306 Posts
No GM. It was me
Olu
- #7,944
- Feb 20, 2013 3:06pm Feb 20, 2013 3:06pm
- Joined Jun 2009 | Status: Trend Trader | 6,288 Posts
If you think you can or cannot do it you are correct
- #7,945
- Feb 20, 2013 4:07pm Feb 20, 2013 4:07pm
- Joined Oct 2012 | Status: private | 2,606 Posts
Hi thodie
your aj wave e taken off nicely, will this take off impulsive
cross.
just do it
- #7,947
- Feb 20, 2013 5:00pm Feb 20, 2013 5:00pm
- Joined Mar 2012 | Status: Gold anyone | 6,524 Posts
Here I rest my case. Closed out @3280
Olu
Wooooohooooo or Boooooohooooo
- #7,949
- Feb 20, 2013 9:44pm Feb 20, 2013 9:44pm
- Joined Jul 2011 | Status: good | 4,295 Posts
I would like to put my thoughts here for comment:
So, as Elliotticians, we know that news and fundamentals do not drive the market, but that sentiment does. I am thinking that the following factors have a bearing (
) on where the markets are going in the next few days and weeks.
Risk-on / risk-off:
If declining stock indices (DJI & S&P) lead to USD strength then, should the major indices' downward correction (that even the mainstream have been anticipating) be underway, the USD is in for a rally. EURUSD will therefore decline in value and so will most Euro pairs.
Central Bank fumbling:
The FOMC meeting announcement last night of cuts in QE sent the markets reeling. The Fed's QE program has 2 major objectives (as they themselves acknowledge) as a means of "bolstering the recovery": 1) to encourage investment in stocks 2) to devalue the USD for the purposes of import/export. There are other objectives and mechanisms (e.g. low interest rates), but in terms of forex and stocks, last night's announcement shows that the Fed has now changed tactics and whatever the reason for that, the effect is USD strength. No doubt they will try to weaken the currency once they feel that the stock markets have "corrected enough" - but by then it will probably be like trying to "catch a falling knife".
Also, Germany's Merkel said yesterday that the EURUSD exchange rate between 1.30-1.40 is acceptable. Either she sucked those figures out her thumb or she is speaking with information from the ECB. If Germany is to "bolster it's recovery" then a weaker Euro right now is good. ECB told the G20 they will not engage in currency devaluation, but if it is a beneficial side-effect of latter-day Fed policy, then, hey, happy days...
It seems the bullish euphoria that has been building up over the past year has finally shot it's load. No doubt, the mainstream are expecting the current downtrend to be a "normal correction". Question is: in EW terms, what is a normal correction? 38.2 % or 61.8% ? and at what wave degree is this going to unfold?
So, as Elliotticians, we know that news and fundamentals do not drive the market, but that sentiment does. I am thinking that the following factors have a bearing (
) on where the markets are going in the next few days and weeks.Risk-on / risk-off:
If declining stock indices (DJI & S&P) lead to USD strength then, should the major indices' downward correction (that even the mainstream have been anticipating) be underway, the USD is in for a rally. EURUSD will therefore decline in value and so will most Euro pairs.
Central Bank fumbling:
The FOMC meeting announcement last night of cuts in QE sent the markets reeling. The Fed's QE program has 2 major objectives (as they themselves acknowledge) as a means of "bolstering the recovery": 1) to encourage investment in stocks 2) to devalue the USD for the purposes of import/export. There are other objectives and mechanisms (e.g. low interest rates), but in terms of forex and stocks, last night's announcement shows that the Fed has now changed tactics and whatever the reason for that, the effect is USD strength. No doubt they will try to weaken the currency once they feel that the stock markets have "corrected enough" - but by then it will probably be like trying to "catch a falling knife".
Also, Germany's Merkel said yesterday that the EURUSD exchange rate between 1.30-1.40 is acceptable. Either she sucked those figures out her thumb or she is speaking with information from the ECB. If Germany is to "bolster it's recovery" then a weaker Euro right now is good. ECB told the G20 they will not engage in currency devaluation, but if it is a beneficial side-effect of latter-day Fed policy, then, hey, happy days...
It seems the bullish euphoria that has been building up over the past year has finally shot it's load. No doubt, the mainstream are expecting the current downtrend to be a "normal correction". Question is: in EW terms, what is a normal correction? 38.2 % or 61.8% ? and at what wave degree is this going to unfold?
cryptocurrency everytime
- #7,950
- Feb 20, 2013 9:57pm Feb 20, 2013 9:57pm
- | Joined Mar 2012 | Status: Trader | 1,306 Posts
I would like to put my thoughts here for comment:
So, as Elliotticians, we know that news and fundamentals do not drive the market, but that sentiment does. I am thinking that the following factors have a bearing (
Risk-on / risk-off:
If declining stock indices (DJI & S&P) lead to USD strength then, should the major indices' downward correction (that even the mainstream have been anticipating) be underway, the USD is in for a rally. EURUSD will therefore decline in...
- #7,952
- Feb 20, 2013 10:10pm Feb 20, 2013 10:10pm
- Joined Mar 2012 | Status: Gold anyone | 6,524 Posts
I am out from .3403 @ .3263 +140 pips in the account...waiting for wave 2 to develop it will probably come back and touch the neckline for the kiss goodbye. Looking to sell at that level for wave 3.
Wooooohooooo or Boooooohooooo
- #7,953
- Feb 20, 2013 10:28pm Feb 20, 2013 10:28pm
- Joined Jul 2011 | Status: good | 4,295 Posts
cryptocurrency everytime
- #7,955
- Feb 21, 2013 2:18am Feb 21, 2013 2:18am
- Joined Jun 2009 | Status: Trend Trader | 6,288 Posts
If you think you can or cannot do it you are correct
- #7,957
- Feb 21, 2013 4:00am Feb 21, 2013 4:00am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
No-one out there buying the Euro then i take it?!
http://i1168.photobucket.com/albums/...d21-02-13a.png
Just trying to think outside the box... makes a change, usually spend most my time thinking about a box...
http://i1168.photobucket.com/albums/...d21-02-13a.png
Just trying to think outside the box... makes a change, usually spend most my time thinking about a box...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #7,958
- Feb 21, 2013 4:14am Feb 21, 2013 4:14am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #7,959
- Edited 4:26am Feb 21, 2013 4:15am | Edited 4:26am
- Joined Dec 2012 | Status: Lions don't bleat! | 2,874 Posts
No-one out there buying the Euro then i take it?!
http://i1168.photobucket.com/albums/...d21-02-13a.png
Just trying to think outside the box... makes a change, usually spend most my time thinking about a box...
Missed the Short,
so it's not a good enough reason!!!
EJ may be basing at DS2 / WS1 122.90
I'll wait for confirmation.
Cheers cg
Wait, or you will be slaughtered!
- #7,960
- Feb 21, 2013 4:41am Feb 21, 2013 4:41am
- Joined Dec 2012 | Status: Lions don't bleat! | 2,874 Posts
Wait, or you will be slaughtered!