Bush is sending mixed signals to market just watch how the fed acts in the short term
Printable View
Bush is sending mixed signals to market just watch how the fed acts in the short term
As I commented in the Gartley Butterfly thread the kiwi is forming a better proportioned wing creature than the Aussie
Here I have modified the Gartley to 'idealize' the B and D points. Real prices themselves are not too far away. Tho B never went high enough D is still clawing for the correct D level.
I've added Fib time zones to the picture as well and it points to Oct 5th being the approximate turning point. Notice how A and C turned early tho.
http://img62.imageshack.us/img62/873...007gartmm9.jpg
stalled a little at this gartley reversal zone maybe time for a breather
but being the kiwi probably not
Hi Peat
Yes, as we said on Sunday - so many levels reached on so many charts........surely has to be a sign. Maybe the power of the "herd behavior" bringing it all together.
I'll check out a couple of timing technqiues, - see if they correspond.
arco
Kiwi is raging buy right now I reckon
Gartley just completed on the 15 min
As you can see I've had couple of longs - first fdrom the 7605 level then closed one at C and set a limit which got triggered (pretty quickly ) while I slept - stop loss always at the 7585 levels http://img215.imageshack.us/img215/3...2007bm4.th.jpg
Let see if we get to 7660 quite quickly as the pattern suggests.
The longer this ranging action goes on the more likely that the eventual breakout (whichever way) will be more explosive.
so a maximum of 25 (very quick) pips on that trade was possible... but now its peeled back into the PPZ (profit protection zone) and I've closed it for minimal gain.....
I noted a bigger picture (1 hr candles) gartley possibility looking like D point might go as low as .7540 ish which may be playing out and counter to the smaller one I just tried.
Still, a reasonable trade tho imo - any trade that quickly goes into profit and offers the opportunity for some credit with minimal risk shouldnt be sniffed at.
As roddy says - back to the hatchery LOL
Morning All
We can see a definate Gartley shape forming with B382, and the current
high is 1618 wave A (or 1?). EW-wise this may be approaching the end of wave C(or 3?).
Direction has a south bias in the short/medium term IMO. Major Gann is still a little
way above, so we need to see a reversal confirmation signal before making any decision.
Heres a Pitchfork chart for a change, and you can definately see there
is potential for a Gartley termination (PRZ) around the PF centre tyne.
(PF in Red TBC = to be confirmed).
Peat - you appear to be scalping nicely with the short term BFs.
rgds - arco