EUR.USD

[peat]

gartley on the 15 min from X at 1.4315 (not the highest high but the first retracement) with D at 1.4218 (the highest red dotted line) has given 158 so far.
this chart is abit crowded sorry... the red fib is the XA , the light blue is the AB (had another sell placed at the 161 ext on that ) and the yellow is the BC extension, which pretty much matched the 78% level of the red

the question is what to do now that the IPO of the gartley has been reached (coz immediatly after posting this it bounced up a lot off that gartley target.

[arco]

Hi Peat

Perhaps thats a Bear Flag now (broken and tested).

In your chart XA could be an AB, and that would give a CD target of under 1.3800, or from the previous fall starting 18 Dec the target could be slightly lower

Not trading this one myself just at the moment.

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well that all worked out well closing both positions with good profit - a good start to 2009
Happy New Year everybody


another bear flag forming now ?
15 min chart showing a definite trendline in the retracement. looking for a break of that.

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yup that worked
closed one +100 and one still to run

[arco]

.

You're on a roll Peat.....I still in holiday mode.

PA is getting towards my idea in post #762 (1.3800)

Should have taken a position, but not trading until next week

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getting sick of gartleys yet ?
look at what Euro$ did last night

Aud/Jpy delivered

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Just closed the 2nd of my two short Euro$ positions at +488 - its starting to look a bit like one of Miners U's might be forming for a bear rally now.

Gotta thank Max Mckegg for this trade - he's a NZ'er who provides forex subscriptions.
http://www.trl.co.nz/trlfx/pages/trlfx.htm

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euro looked like it was forming an ascending triangle during this correction but started to push the lower side of it and kind of did a double top at 1.3085 , so I've taken another short , at 1.3008 original stop was at 131.05 but now brought down to 1.3060. TP 1.2808
headin off to zzzz's now with 52 pips at stake 200 on the make


_____

closed at break even after offerning up to 100 overnite... but I was asleep and it broken out on the up of another little triangle just now 8:55 am so yeh out for zilch

[arco]

Long time since we've had a potential Bat in the wings.

.

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also a gartley tho, with X on Oct 27th and B on Jan 5th.

I tried a long from just above 1.28 but again (like GBP/CHF) I was too soon and a bit weak, couldnt hack the lows that came..

Problem with trading this on the daily would be D = 1.2891 and stop would have to be below 1.2330 - over 500 pips.
even trading the bat one would have to allow 250 pip stop.

does look like its time for a rally tho....