You were on money on this, Brad. I am still a rookie and your chart helps to improve my charting.
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Nzd
i do not know, how many of you guys are into NZD in any form, but I am long NZDUSD.
I attach below the most recent NZD index for your information.
It looks slightly overextended at the moment, most indicators are showing extreme positioning with stochastic showing negative divergence. My advise would be to sell any long positions that you might have and switch to short.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11622&stc=1&d=1203633995
GBPAUD heading down
If you're not already short GBPAUD .. Now might be a good time to have a look at it..... I think we are just starting large wave 3 of 3 down...
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eur/jpy
Hey guys, missed that one but still looks promising to the downside. I'm watching for the resistance at 159.73 to hold over the next couple of sessions. If indeed hold the I'll be looking to get short for the ride of wave (v) of 3 of a larger (C).
Anyone agree......?
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Loonie Trade
Sorry something happened to my chart picture when I resized it. This one is clearer. The pinkish lines are my stops and red arrows my entries. Any help at all would be appreciated. Cheers.
John
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11630&stc=1&d=1203695243
USDCAD should begin to fall hard next week. Ideally, price remains below 1.02 but a spike above does not change the outlook. Stop should be above 1.0378. Target is below .9755Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11637&stc=1&d=1203709080
Audnzd
AUDNZD has tested my patience long enough.... I've been holding long from near the bottom for quite a while... And this pair, just when I thought it was heading up again... fell right back over... This dam pair is so ugly... I have exited my long at a profit... Will have to keep an eye on this pair too....
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Hi Guys
It was a bad day for me, I had most of my positions taken out by a stop. But, hey, it could`ve been much worse, if I didn`t place a stop. Sometimes it is just a no-win situation. Trader`s dilemma, I suppose.
On a more cheerful note, it looks like USDJPY reached a significant bottom today. I attach a chart showing that all technicals show positive divergence, but the price action was going in the opposite direction. Usually a strong sign of a rebound.
BTW: USDCHF is showing almost identical pattern. Also significant bottom.
Have a nice weekend everybody. Come back next week to fight the battle with the market. (No pun intended to our friend MarketWavez)
Mike
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usdjpy
USDJPY has tested the bottom side trend line today... But looks like it's going to fail to close beneath it... which tells me one thing... We should see an upward bounce... Keep your eyes peeled for the short opportunity... I don't think we're there yet...
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While I was writing the last post... USDJPY appears to have started a bounce upward already... Rest assured the Bank Of Japan will not go down without a fight... I think they are trying to push the market higher, because they know it's going down....Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11641&stc=1&d=1203713793
Unlike some of the senior members of this forum, I believe that dollar-yen has regained the downward trend already completing a 5-wave sequence down. What is on the second chart is the wave count of the final E leg of the multiyear triangle that the pair forms - I think we just started the 5th wave of the C wave as part of the A of the A-B-C of the triangle wave
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EURAUD Monthly Wave 3 Breakout Approaches
I'm sure this post will grab some attention... As it should... http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif I spent my whole friday night and going into saturday morning working on this.. So everyone enjoy ! Truly I love wave analysis http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif Everyone, you may want to keep copies of these charts for reference up the road... To Jaime.. I thank you for posting the long term chart of EURAUD on dailyfx once again... Seeing that chart again reminded me that I am a long term BULL in this pair... However, for a long time I haven't had a decent count to work from and it's been bothering me since I know I want to get long this pair for the long term.. I just wasn't sure where I wanted to enter so I kept brushing it aside for other trades.. Anyway, I can now put those thoughts to rest... I've identified a great long entry and a fairly tight stop, even for a monthly chart. It will still take some time to get to the entry point, but I am ready and waiting when it does... Kudos to Jaime for identifying the long term bottom forming in your recent posting for this pair on dailyfx, however you didn't post a long term count with it... So I have taken the liberty of picking it apart.... Jaime, my friend.. You are months ahead of the crowd on this one...
I will let these charts speak for themselves....
Any thoughts or opinions are always welcome http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif
Cheers http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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eurusd
Looking for correction this week to 1.4650 range.
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Hi guys
EURGBP has given me a lot of grief, personally I had more than one consecutive positions, which either lost pips or were stopped recently.
But, now I think that I am seeing a pattern.
To me it looks like a triangle is just about to burst in termination of wave 4.
Please see below.
I will go long when the market opens. Will put my stop just below leg C in the triangle, around 0.7525
Mike
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Daily Bar chart of the the Dow as of Friday 2/21/08..............
Where is the rally you speak of ? .............
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Is Intraday charts and the News causing emotion again /.....http://www.learncurrencytrading.com/fxforum/images/smilies/rolleyes.gifAttached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11656&stc=1&d=1203827716
This chart below is Daily Bar chart of Dow Jones
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Can you post bar chart with the rally you are speaking of ?
Because it sure isn't in the Daily Bars .........
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Dow Jones has been on a downward slope
over the last 2 weeks ( Daily- Bars )
Again , where is the rally ?......http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
-Please illustrate ,
- Please post chart showing the rally ..............Thanx alot !
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Usd/Cad
Here is a Mid-Term Wave-count ( 2 Hr bars )
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Price action appears to be moving toward an End of Wave 5
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Only A Probability ! ................ Not Cast in Stone !
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http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11645&stc=1&thumb=1&d=1203778427
Here is the Original Chart
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U.S. Recession .............http://www.learncurrencytrading.com/fxforum/images/smilies/frown.gif!
will be confirmed in skyhigh Euro Prices
Let us not clear the multi-year highs that were made in 2007
in the Euro/Usd pair , or we are in trouble here in the US .........
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Eur/Usd
Price Action appears to be moving toward an End of Wave B
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Only A Probability ! ................ Not Cast in Stone !
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Entry Limit ...............1.4850 limit
StopLine..................1.4865
Target ....................1.4790
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Risk ........15 pips
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Gbp/Usd
I think I Can ...... I think I Can't !.........http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
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