EUR.USD

[roddy]

Hi DB

I think i get the gist of what you are referring to i havent done much elliott wave ,BUT i will tread carefully on the EURO

Hey great trading DB,1000 PIP thats totally impressive!!

cheers
roddy

[dumbass]

just looking at euro again there is a good risk reward trade to add long with stop loss to 145 70 (hammer) on hourlys

currently risk 70 for 400+

assuming your a bull (which makes sense for the direction to trade)

[roddy]

Hi DB

have dialed that one in with stop at 4570,

i have a short on cad at 9960 last nite in expectation of the southward move would get underway off the1 hr chart and fall thru support 9940 levels but at present that hasnt happened yet.

cheers
roddy

[dumbass]

morning guys

deciding on direction for next week looks like euro topping out

i still feel the way the action is unfolding current rally is corrective and not impulsive

there needs to be a 5 wave down to complete triangle

this rally looks best counted as an abc a=c right where were at now

so will close longs and try a short , divergence on hourly backs this up

so looks like a little dollar strength again this week

[Steve]

It will be interesting to see where the EURUSD goes on mondays trading. There is the possibility that it may get back up to the mid-1.48s with the indication of a further cut in US interest rates coming up.

I think that I read somewhere recently that the long-term equilibrium rate is 1.30? Can anyony verify that?

[dumbass]

yeah should be interesting

the article that roddy posted from dailyfx would back up a bullish stance and that guy is

really good but sometimes you just got say it as you see it

i still believe a bullish run on the euro will happen but there will be a better entry

[peat]

yes this 4th wave is supposedley going to be protract3ed and complex, and must confuse people and trap them into bearishness before unleashing its upward 5th so I will allow your volte-face DA. heheh.
This is EW vid is a week old now and seems to have got last week right (in hindsight?) and remainsd undecided about what happens now (this next week)

http://www.elliottwave.com/club/protected/analyst-videos/jm/educational-video-series/default.aspx?code=fofovid&cn=jmvid&page=jimmclubfe b8&title="Has%20the%20Dollar%20Bottomed?"%20(Relea sed%20Feb.%2008)

USD/CAD, sometimes considered a leader supports you , but I'm gonna hold the Eur longs a little longer, try and get a partial take somewhere towards 1.48. i'm thinking a bit of range trading is necessary tho.

[dumbass]

agree with the complex nature of corrections makes them hard to trade

i feel this is maybe a time to tighten stops on a long or have a cheeky short

US closed tonight i think, so not much direction today probably

[Steve]

Trading in a tight range so far today. I guess we will have to wait for the US to re-open to get some direction...

[roddy]

Hi DB

thanks for your post on this one DB, your initial 400+ pips has been met and i am still in the trade, now looking for a test of ARCO,S 1.53 levels as per his post 555

just looking at euro again there is a good risk reward trade to add long with stop loss to 145 70 (hammer) on hourlys

currently risk 70 for 400+

assuming your a bull (which makes sense for the direction to trade)

cheers
roddy