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USD.CHF
Just closed my long from 1.1986 at 1.2248, for lots of money
Seems to be ready for a small retracement from intermediate term highs around 1.2250.
Still like it to go higher, so will attempt to get long again on any retracement to 1.2170/90 area
Xerof
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Added another unit of USD/CHF 1.2330 to my Friday entry at 1.2210
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closed out both units at 1.2313 for +103 and -17
No firm ideas at the moment
Xerof
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given that the Eur/$ is moderately consistent with the inverse of USD/CHF do u also see a bullish version forming there too?
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Xerof
Yes you have the dates spot on.
quote:target.......anywhere between 1.2470 (127% of BC) and 1.2732 (161.8% of BC)
Herein lies the problem, because one must always remember
Gartleys can disappoint by developing further into Butterflies.
So, finding a possible pattern is only the beginning and
other TA needs to be carried out to try to confirm
the likelihood of a reversal at the target point/s.
I usually look at Gann levels, Fibonacci retracements/
extensions, and marry that all in with old support,
resistance, trendlines, etc, etc.
Peat - yes currently, and in a number of timeframes,
the larger of which is way into the future as it looks
presently. (So much so it is almost crystal ball gazing).
arco
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The action has reached the lower
elements of the Butterfly reversal zone,
plus a Gartley zone on another time scale.
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quote:The action has reached the lower
elements of the Butterfly reversal zone,
plus a Gartley zone on another time scale
quote:finding a possible pattern is only the beginning and
other TA needs to be carried out to try to confirm
the likelihood of a reversal at the target point/s
To my inexperienced TA eye Arco, market momentum is so good on this trend that my 161.8% target of circa 12732 might be a minimum????
Xerof
sorry not much input lately, but terribly distracted with setting up my little fund (which is getting larger with every incoming phone call)
God the paperwork and beauracracy is unbelievable - I am apparently a 'financial institution', but my fees are not GST liable, I am now an employer (of myself) which means PAYE, FBT, RSVP and RIP[^], I have to act as policeman for customs on the lookout for money launderers, have to file audited annual accounts with Companies Office so all and sundry can have a look, collect RWT on behalf of IRD, vote Labour (no, thats not in any Act of Parliament -- just yet) - on and on it goes[xx(][xx(][xx(][xx(]
Still I suppose if I can make 5 to 10 mill a year its possibly worth the effort
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Hello Xerof
Yes, just reaching the bounderies of the zones
means nothing other than we should be aware of
that fact. Little to be done other that watch for
further signs. A centralized Harami printed
overnight and that is technically classed as a
reversal pattern, (although further confirmation
is always suggested).
I have possible Gann resistance at 2573/2695, and
the upper zone of the Med Butterfly circa 2748.
Complications are that we have 3 Butterfly/
Gartley zones coming together in the one area,
and that is unusual. The larger Gartley has
a very high price zone much further north if
it turns into a Butterfly.
The long term model remains long as reported
on the Monarch thread.
Ummm....not sure why you would want to burden yourself
with all that hassle when you can make $1 mill
PA trading your own account and have no one
other than yourself and Mrs Xerof to answer to
However, I can help you spend that 4/5 mill if the need
arises.
Back to the paperwork
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Arco, thanks for those comments -I'll keep an unblinking eye on Monarch 1 for the turn on USD/CHF - is there any sort on email alert function on Sharetrader, or maybe direct to my mobile?
Of course, the lazy 5 to 10 is on top of PA 1 Arco - its tough to make a decent living these days - need to put in at least 3 hours a day - 3 or 4 days a week - what is the world coming to, I ask you - must be this productivity gain claptrap we keep hearing about hmmmm?
Nice celebratory time in honour of QEII mid year DoB to all, I'm off to watch the trials - NFP can go jump tonight
Xerof
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