EUR.USD

[arco]

Finale perhaps............

[roddy]

Hi Arco
Great posting and trading,If 1.32 is reached which is the target of the 5th wave, strictly speaking does that invalidate the bearish butterfly pattern,or are the two charts just confirming each other?

slightly off topic,have you read any of Scott Carneys books Harmonic Trading regarding butterflys, bats etc

[arco]

Hi Roddy

Re your questions.

Q. If 1.32 is reached which is the target of the 5th wave, strictly speaking does that invalidate the bearish butterfly pattern.

A. No, it means there is the possibility the original Bearish Blue Butterfly could grow a slightly longer leg, taking the print to circa 3200 and it would still remain a valid pattern. (Also a point to remember is we have already had about 500+ pips from the original 'blue').

Q. Are the two charts just confirming each other?

A. The 2 taken together could be considered as hinting at the possibility of a further extention to the 'blue' leg.

Q. Slightly off topic,have you read any of Scott Carneys books Harmonic Trading regarding butterflys, bats etc

A. I am familiar with Scotts patterns, but I havent read any of his books.

Hope that answers youe queries

Regards - arco

[roddy]

Hi Arco,
waiting for an upward break if it goes that way!




cheers cadet roddy

[peat]

direction is not what you think but indeed has gone now.!

[roddy]

hopefully waiting in the wings!



cheers cadet roddy

[arco]

I have a Gann turn date 19th so I'm trying a little long here

+ 30 presently.

.....see how we get on.

[roddy]

Thanks for that Arco

eod and hourlies tending upward from 2679 level


as always i realise i trade at my own risk!
cheers cadet roddy

[arco]

Possible base building at 2630?

Waiting now for the 19th before commiting additional funds and see if we get a good reversal signal at the Gann date.

regards - arco

[roddy]

HI Arco
been watching this one with interest, after your post,Arco the move up from 2630 to 2700 is that a significant enough reversal or would you prefer to see higher levels before entering?

also i am still long Aud, which needs to make a break above 7570 i believe.

cheers cadet roddy