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25-03-2010, 06:42 AM
#841
"There's always more than one cockroach" Kathy Lien, director of currency research at GFT (referring to Portugal)
For clarity, nothing I say is advice....
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25-03-2010, 11:55 PM
#842
Deputy Governor of the Peoples' Bank of China Zhu Min only made matters worse by warning that Greece is merely the "tip of the iceberg" and is just the start of a much bigger sovereign debt crisis
wow thats awesome... its like saying "Hey you guys hope you can pay your bills , we know we can"
which country(s) do you think he is specifically referring to?
For clarity, nothing I say is advice....
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26-03-2010, 06:49 AM
#843
this morning I want to comment on the Euro and what I'm seeing as diagonal triangles. to save me typing it out I've attached one pic of how Jeffrey Kennedy from Elliot Wave describes them
and in the second pic is what I see as two diagonal triangles in different directions... the downward sloping one is potentially the end of this large downward movement from which I had a couple of +300 or more trades. I had already closed my shorts but this was the sign to me that if I hadnt of I should be by now.
And then to my surprise I saw another one occurring last night on a much smaller time frame which I played for a small number of pips. Note than in each case there was a blowoff after the triangle had completed, I'm pretty sure this should be expected , and is perhaps a good opportunity to get your position in, although if you read the tutorial one really should wait for confirmation the move is beginning.
you can read the Elliot wave tutorial on Diagonal triangles here (or of course from their website)
http://homepages.ihug.co.nz/~peat/im...ClubReport.pdf
so a bit surprising to identify these patterns so close together but the down one was at the end of a wave 5 (not really confirmed yet but we shall see) and the upward one presenting itself as part of an a-b-c so from what I understand there is no contradiction in this.
anyway , just thought I would share this morning.
good trading all.
For clarity, nothing I say is advice....
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03-04-2010, 02:27 AM
#844
Hi peat, thanks for this info, I downloaded it when you posted it and have been following it a bit.
I noticed a good examples from last week on the 1H chart, in AUDUSD.
But looking at the current EURUSD i see one potentially breaking out.
~ * ~ De Peones a Reinas ~ * ~
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07-04-2010, 06:33 PM
#845
130 pips+ after the break of the diagonal triangle, and has retraced past the number 2 point as specificed in peat's document.
see attached
~ * ~ De Peones a Reinas ~ * ~
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08-04-2010, 09:24 AM
#846
thats awesome silverlight. glad you're making use of the info.
Potentially a diag tri showing on the NASDAQ ...
looks like a short term bear flag diag triangle on the Euro broke about 7 am this morning as well
Last edited by peat; 08-04-2010 at 11:27 AM.
For clarity, nothing I say is advice....
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02-05-2010, 10:23 PM
#847
a deal has been done....
euro higher?
I always wonder in times like this where Oanda offers after hours trading if I shouldnt hit it hard even with an increased out of hours spread.
For clarity, nothing I say is advice....
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03-05-2010, 07:10 AM
#848
price moved up as trading commenced - tho the spread doubled from 10 to 20
weekend position now up 30 pips and that includes the spread so yes I should have hit it harder - oh well any money for jam is good.
For clarity, nothing I say is advice....
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04-05-2010, 10:03 AM
#849
Hi Peat
We had a good run on the blog last week on a couple of trades with Euro
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05-05-2010, 10:07 AM
#850
big night ! markets routed.
I wasnt short but wasnt long either , certainly a night to have had stops in place.
interesting piece on financial crises out from stratfor last night
http://www.stratfor.com/weekly/20100...6321fbed31d503
quite philosophical in nature , but I enjoy this kind of stuff
I've actually recently bought a book by George Friedman (dude who runs Stratfor) called "The NExt 100 Years" where he puts it all on the line with longterm forecasts re geopolitics... I'm just a few chapters in but its pretty clear he doesnt buy the standard popular China becoming dominant theory , in fact he's saying the 21st century is going to be when America comes of age, describing it as a pimply adolescent right now.
Not something to trade on obviously but I believe the guy needs to be given some credence.
Last edited by peat; 05-05-2010 at 10:46 AM.
For clarity, nothing I say is advice....
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