EUR.USD

[Craig3215]

Hey Arco,

Yeah I am long a small piece still with a limit at 38... I'm gonna add another small limit at 38 and then see where we go from there... last month I went all in at the trendline support 3350 and it imediately went down about 100 pips, my margin ran out and they liquidated my position... I was able to hop back in later but this time I'm trying to remember that this is the long term trendline... good to see that we're on the same page though from what I've seen of your previous posts thats a good place to be

[arco]

Hi Craig

Due to the complexity of the Red Butterfly Harmonics (having 3 possible choices of XA legs), this pattern could even complete in the Blue BF PRZ.

Therefore the action could still probe beyond 3800 (see weekly chart Blue potential Butterfly PRZ).

regards - arco

[Craig3215]

Hi Arco,
It does look as though this is going through 38 soon, I'm looking to hop in around 3780 with a stop around 3767, seems like a low risk trade for potentially 70 pips or so

[arco]

Craig

Based on some medium/longer term active Gann calcs its
always possible 4150 will be seen - if they follow thru.

As the chart unfolds I will update the Gann figures

regards - arco

[Craig3215]

That 21 pip lower shadow on the hourly took me out I guess the big guys made some money on me there taking out some obvious stops only to have it pop right back not giving up on this one yet though getting back in at 3780 with same play... fool me once...

[miner]

Craig usd/chf does the opposite to this one so is handy when trying to make an entry as they confirm each other,if you look it spiked north when this one went south and took you out.

P.S,see how usd/chf turned at 1.2033 on the 15min which gave a long entry on eur/usd.

Cheers
Miner

[Steve]

I read a snippet that 1.3855 thereabouts will be a major test and should that fail then a drop back to the 1.35's is likely.

If the 1.3855 test is passed, then 1.4150 is the potential target.

Is that similar to what you are suggesting, Arco?

[arco]

Hi Steve/All

I see some Gann resistance at late 3800/early 3900 which could turn the plot around for awhile with some strong support below circa 3672.

Still looking towards 4150, and maybe circa 4500 to complete that big ol' brown moth from 2004-2006

rgds - arco

[bogus1]

max has elliot wave count currently a 3 running to 1.4565
jan 07 1.2870 to 1.3680 (1), 1.3270 (2)
i am thinkink a correction to 1.3650 ish before runs again , hopefully usd chf confirming eur usd short

[arco]

Hi bogus1

Thanks, I'll check those figures and see if/how they fit in with my model.......presume you are talking about Max McK? If so, Peat subscribed for awhile, but I dont think it worked for him, so are his tips working for you?

....Only because I'm wondering if I should start a tipping service myself

Anyway, I am currently +28 (was higher) on the Chf short, and +20 on the Euro long. Cant complain todays P&L looks very black at the moment .

rgds - arco from the butterfly house