DislikedAs said, 1.0845 became strong support for the pair. Now, 1.0815 can become strong support after the US GDP breaking which chances of 1.0710 can't be denied. {image}Ignored
- #6,241
- Edited 9:07am Aug 30, 2014 5:45am | Edited 9:07am
- | Joined Jan 2010 | Status: Trader | 1,638 Posts
- #6,242
- Edited 1:10am Aug 31, 2014 12:35am | Edited 1:10am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
After a 5 months correction, this impulse wave from 11th July low is still intact and poise for the upside. It's an impulse wave structure that comes with a (5)th wave extension 161.82% of 0-(3) measured externally with target price at 1.1381.
This scenario or wave count would only be invalidated if it goes under 1.0791, or as Greener mentioned in previous post that "long term uptrend would be erased at 1.0710."
While DXY dollar index resumed trend to the upside on 1st July after a year-long correction, it is having an bolstering effect on this pair's further advance.
This scenario or wave count would only be invalidated if it goes under 1.0791, or as Greener mentioned in previous post that "long term uptrend would be erased at 1.0710."
While DXY dollar index resumed trend to the upside on 1st July after a year-long correction, it is having an bolstering effect on this pair's further advance.
Elliott Wave for optimum entry, exit and risk management of trades
TP .67
- #6,246
- Sep 2, 2014 3:15am Sep 2, 2014 3:15am
- | Membership Revoked | Joined Nov 2010 | 3,324 Posts
{quote} I Completely agree with you as 1.0710 - 1.0715 region coincides the 76.4% Fibo. level of Dec. 2013 to March 2014 up-move together with ascending trend line support stretched from September 2012. {image}
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
- #6,247
- Sep 2, 2014 3:26am Sep 2, 2014 3:26am
ya...and it'll take a year and more to reach your anticipated level...
{quote} Guys forget that this is a monthly chart. If it was a 1hr chart for example and price pulled back to the shaded area you would not assume the uptrend was over would you ? Not saying this will happen just saying have an open mind here that even falling back to 1.05 and even a little beyond on the monthly would not render the prevailing movement from July 2011 over. {image}
- #6,248
- Sep 2, 2014 3:35am Sep 2, 2014 3:35am
- | Membership Revoked | Joined Nov 2010 | 3,324 Posts
ya...and it'll take a year and more to reach your anticipated level...
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
- #6,249
- Sep 2, 2014 3:39am Sep 2, 2014 3:39am
hee...hee...did i get you somewhere...?
{quote} You clearly misunderstood the post. I do not ANTICIPATE ! Time is irrelevant the point I was making is that IF it were to pull back to that level and observing that chart you would not make the assumption the general direction of the major trend of being up was over. That is all nothing else inferred so go and be a smart arse somewhere else.
- #6,251
- Sep 2, 2014 3:26pm Sep 2, 2014 3:26pm
- Joined Apr 2011 | Status: Free Palestine.. | 1,567 Posts
{quote} 1.1 is not a myth, but no need to stick on it. lock profit even near it, is good enough?/
1.10 a magnet, may go long intra day target.??
If skills could be acquired by watching, every dog would be a butcher. Turk
- #6,255
- Sep 3, 2014 4:12am Sep 3, 2014 4:12am
it really depend on canadian data tonite...
i am expecting hawkish tone from governor's speech.
i am expecting hawkish tone from governor's speech.The USD/CAD confirmed a very strong closing even well above the 200 days line, now support at 1,0894. Possible further strength toward the 1,10 level! The indicators of the daily chart are already above the line as well as those of the 4h one supporting further strength. The indicators of the hourly chart turned instead below the line after having formed bearish divergences on the way. We have however also a potential negative reversal situation that is limiting the upside. While above 1,0908, the 200 hours line, the pair is supported suggesting...
- #6,256
- Sep 3, 2014 5:12am Sep 3, 2014 5:12am
- Joined Apr 2011 | Status: Free Palestine.. | 1,567 Posts
If skills could be acquired by watching, every dog would be a butcher. Turk
- #6,258
- Sep 5, 2014 9:35am Sep 5, 2014 9:35am
- Joined Apr 2011 | Status: Free Palestine.. | 1,567 Posts
Hi All Any suggestions for USDCAD.... I am stuck with AVG heavy buying at 1.0950 (from 10900 to 1.0985) CAD and USD data are mixed ... unable to determine if it will to these levels Thanks for the guidance...
you should wait till end of the day or near , if this last hammer hold may see even a spike 1.098 ??? maybe.
next time buy the black and sell the red.
If skills could be acquired by watching, every dog would be a butcher. Turk
{quote} you should wait till end of the day or near , if this last hammer hold may see even a spike 1.098 ??? maybe. next time buy the black and sell the red.
Thanks for the info...
Well I dont no off late UC is behaving very strangely...according to today's data it should have gone up to atleast next resistance at 1.0940 level ...
but its not even able to surpass 1.0890 ... M positive to see level around 1.0985 atleast n if my charts are right then this time it should breach 1.10 n go upto 1.1060 level .....
- #6,260
- Edited 11:27am Sep 5, 2014 9:53am | Edited 11:27am
- Joined Apr 2011 | Status: Free Palestine.. | 1,567 Posts
If skills could be acquired by watching, every dog would be a butcher. Turk