EUR.USD

[miner]

Evening chaps,good stuff peat,hope you took the $ looking at it tonight,ouch,Roddy I use the take the money and run method in this game as to volatile and always another trade to be had.

Make your rules(stops etc) and stick to them,put a CD on empty your mind relax and trade hehe.

Cheers
miner

[pringy]

mmm does anyone do Elliott Wave analysis here?

The break through the diagonal support on 17 July has screwed things up... the subsequent low at 1.2457 on 20 July, makes you wonder if it is a Wave 2 or correction E, since it has retraced more than the low at 24 Jun 1.2478 (Wave C)...

Problem is trying to decide if 8 July to 20 July is an impulse or a corrective...

Time will tell... if it breaks through 1.2750 tonight, it's going to be a good run!!

[arco]

Hi Pringy

Heres a possible count on weekly/daily from EWM

"The count suggests that an upward impulse wave from the lows has been completed, the EUR/USD is in a bearish mode as long as it holds below the $1.30 level. The decline could be corrective, which depends on whether the longer term support at $1.10 holds; the internal structure of the downward move is also important. Key support for the medium term is the zone from $1.150 to $1.20."

http://www.elliottwavemarkettiming.com


arco

[peat]

quote:Originally posted by peat

i havent got access to my long term charts but I'm guessing you mean shoulders at around the 1.29 level with head at 1.36. So first we would have to reach 1.29 again and then we would have to break down through about 1.19 to have that confirmed.

bumpity bump....
1/ the first requirement has now happened.
2/ to remind us about arco's graph of the 9th of July, which I'm still keeping my eye on (and from a JPY perspective as well)

Trades taken out at that time longing $ would have been in AND out of the money during the last month but are now starting to come back in to +ve territory.

[arco]

Hi Peat/All

Blue plot on the chart of 6th June is still in play.

Short term it looks possible we may see a little rise up from Fridays close before EUR reverses and heads further south. (According to Major Gann anyway).

.........its hot on the SS coast today - 24 C. [8D]
(Weather in NZ looks a bit dodgy....so might hang on here a bit longer)

GTA - arco

[arco]

Check out yesterdays EOD Inverted Hammer (Bullish)- thats a candlestick that has a long upper shadow and a small real body at the lower end of the session. It's usually a bullish bottom reversal signal.

That sorta confirms that little rise I mentioned yesterday which could possibly take EUR back to the 2970 area.

GTA - arco in QLD

[arco]

Trust a few got long before the event............

In July, a 1.3-percent increase for finished energy goods prices
slightly outweighed declines of 0.3 percent for finished goods less foods and energy and for finished consumer foods.

+62

[arco]

Heading nicely to the target mentioned.

Currently consolidating circa 2842

+ 117

[slam]

Got on a bit late but still picking up a few pips
+54 atm

Nice call arco (as usual)

Cheers
Slam

[arco]

I placed a tight stop overnight @ 2851 which was hit for +126

Currently watching for a possible re-entry at a similar or better number.

GTA - arco in QLD [8D]