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Thread: EUR.USD

  1. #121
    Guru Xerof's Avatar
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    Arco,

    Very clear chart thanks. I just think a deeper test of very recent lows is coming first - nothing too much but 1.25 area is too close a magnet for stop hunters. Just call it gut feel at this stage.

    Your counts line up with others I have seen - 1.2700 area seems the ideal completion area for wave 4 on the weekly chart.

    p.s. my Murphy book arrived yesterday - let the edgimucation begin[^][^] If you don't hear from me for a few days, I'm poring over charts......also bought Raghee Horners book out of interest - she has some interesting trading techniques - swing and breakout mainly.

    www.raghee.com is the site (haven't been there yet myself, but will do so today)


    cheers
    Xerof

  2. #122
    Guru Xerof's Avatar
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    Arco,

    Yesterday, TRL made the call to sell at 12615/30 level.
    I just asked TRL for his chart interpretation - here it is:

    quote:Minor Wave IV/ (of larger Wave 3/ dating from 1.2990 peak) ended last Friday night at 1.2690) ... Minor Wave V/ of this larger 3rd is sub-dividing .... Wave i/ ended at 1.2535 ... Wave ii/ ended at 1.2630 last night (exact 61% retracement) which makes the current Outlook through to week’s end very interesting indeed.

    regards

    Xerof

  3. #123
    action-reaction arco's Avatar
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    Xerof

    Which just goes to prove EW counts are quite subjective,
    although I did have that plot in my mind as a possibility.

    I will stick with my count until I see the outcome of
    the next few days.

    Are you basing your trading on McCleggs service?

    arco






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  4. #124
    Guru Xerof's Avatar
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    I am a subscriber and take his views into account as part of my overall positioning, but sometimes have gone against his calls - and won some, lost some as you might expect. His commentary is certainly an important part of the "Xerof mix", - call it a guiding influence

  5. #125
    Legend peat's Avatar
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    oh yeh

  6. #126
    Guru Xerof's Avatar
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    Peat, (and gold coast martin.....)

  7. #127
    Legend peat's Avatar
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    i take no credit
    but i take the pips.
    its well cooler to be able to predict it yourself
    but c'est la vie.

    and anyway at this stage I still hold my 4 mini shorts.... will keep them for the 1.24 or even lower. but at this stage its nice to see the pressure is still down

  8. #128
    Legend peat's Avatar
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    ok couldnt resist booking 2 of them at 1.2525
    Ferengi rule of Acqusition No 1
    A profit is a profit.

  9. #129
    Legend peat's Avatar
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    new lows for 2005 ....

  10. #130
    action-reaction arco's Avatar
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    With London and New York returning from holidays later in the session, traders were looking for fresh clues on direction from U.S. data including nonfarm payrolls data due on Friday. "The French rejection had been widely priced in and the market has come to a reasonable level," said a dealer at a Japanese trust bank.

    "It would take non-EU factors, notably U.S. economic indicators, as well as weak economic data out of the euro zone to put further pressure on the euro," he said.


    More...........

    http://yahoo.reuters.com/financeQuot...t316143_newsml



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