EUR may be setting up a similar WW sequence
http://www.khalsaspad.com/files/102705ww_125.gif
GTA - arco
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EUR may be setting up a similar WW sequence
http://www.khalsaspad.com/files/102705ww_125.gif
GTA - arco
Might yet even stretch into the red box of the larger butterfly posted yesterday
Xerof
EUR managed a high of 2173 (Kissing the 5 ? point around 1 am)
If you rode the action north to the target zone 5? (see previous chart) you should/could have gotten upto 100 pips (max) on a day trade.
.........and if you reversed south there has been a max of circa 50 so far. I will try to update the chart later.
arco
nah, that first spike up 2125 was too much so bailed. went long haha then had to bail again. the forex mind games gettin a bit much for me now. every time i change position it moves agin me.Quote:
quote:Originally posted by Xerof
Peat, hope you managed to get through the bullsh*t s/l run in early europe. Low was 12051 on my platform, sorry - a pip out;)
Xerof
i guess I'm the fodder for the sharks......
Afternoon all, such a glorious day in the Bay today, I just had to go beyond the gates and have a coffee in the village.
Peat, :(:( we all go phases such as you're currently experiencing. Maybe spend time (not your money) on the demo to work out some systems that suit you and work for you.
Note also Peat, TRL's commentary today is a wait and see scenario
i.e might see final spike, but drop below 121xx should confirm top is in place
Arco, you mentioned a possible head on GBP - could be same setup for Euro too
Had a 'flyer' above at 12190 in case there was one more decent run into my more ambitious 'red zone', but you were obviously keeping a lid on it:D:D
Xerof
Speaking of head and shoulders -I followed up on my comment to Peat a couple of days ago about an inverse H&S on the 120 min chart I'd spotted and which was due for a return to the neckline. In the event, other than the brief spike up to take Peat's stop out[V], this panned out perfectly. The concern is - it is a classic set-up which has developed further and now targets 1.2270, if the structure plays out according to Hoyle.....
Just another alternative for the pot......
http://img486.imageshack.us/img486/5696/eurhs9gr.png
Xerof
Hi Xerof
The way I measure H & S is this....
Form a measurement line from the 'Head' and at 90 degrees to the neckline. Place that measurement at the point where the action exits the neckline and at the same angle. (If you use a Fibo grid you dont have to worry about the angle).
arco
PS. Thats roughly gives about 2247....with Major Gann at 2207.
Noted thanks Arco, I shall rein in my exhuberance for the target.
That ol' 2207 major Gann again!! thats featured a number of times on this thread in the past.
On that basis I'll leave the 'flyer' in at 122 ish.
That all fits in nicely then with TRL's reversal point, my larger butterfly reversal zone, the inverse head n shoulders zone, and the major and his men.
With so much lining up, that probably means its already turned turtle and is ready to scarper...[^][^]
Xerof
ps, I assume these refinements to JJ Murphy's iconic masterpiece are to be found in the soon to be released 'hitchhikers guide to the FX markets'
pps, n don't reply '42' :D:D
BTW, TRL's just lowered his sights - sell at market.....with tight stop....
Xerof
Here are the Gann calcs in Glorious Red and White.
http://www.khalsaspad.com/files/102805gl_518.gif