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The time part is pretty intriguing to me but as of yet I have no clue what I'm doing with it lol!
For you Gann enthusiasts out there. I'm studying up on it but it looks like it's something that would interest me and it's an incredibly cool chart setup.
http://www.gannalyst.com/index.shtml
Be going long at 1.0470 on AU.
It's never OK to not pay your debts and let someone else pay them for you. I assure you that someone else will pay the entirety of Greece's debt in some form or another. They had no choice but to pay something because the alternative was to go to bond markets on their own and pay pawn shop interest rates. It is the result of no accountability in public spending and the same thing will inevitably happen to nations around the world until their populations or events force them to change.
For the third time since 1900 as a nation the USA owes more than GDP. Happened during the 1930's, during WWII, and now again. Troubling thing is we've got unemployment which is not extreme at 8.3% but debt to GDP over the 100% mark which is extreme by historical standards. Why and how is it there at that point and most importantly what happens when nations continue to live outside their means during periods which do not warrant it? What level is the critical point?
In the 1930's the nation had severely high unemployment and as a result a relatively low GDP and a high debt to GDP ratio. WWII had a huge buildup of resources in order to fight the war. Now? Unemployment at 8.3 percent, a reasonably high GDP, and a debt scenario that is out of control historically.
Took the money and ran on that retrace. Gotta work, you guys be careful.
Sold the beast at that double top. Give it a tight stop and see what happens.
Crazy ain't it. Spend more than you make and then just tell your creditors that you'll pay them 26 percent of what you owe. This is the kind of shit that bring hyperinflation into play because someone is going to foot the bill.
You know jav usually when the tdi line crose the market baseline it's a good trade with the right SL so I think you're right on. Dang market baseline if way up there too.
Heck yes if you're short. That is probably going to determine whether tomorrow is risk on or risk off. Personally, I think if it can't go up on unabashed exuberance at investors taking a 74 percent haircut in their investments then where else can it go? Probably going to be some repatriation flows come out of all this too but I couldn't fathom whether they might be risk on or risk off oriented.
But wait, there's more on Greece! Like one of those tootsie roll lollipops where you can't ever get to the center.
http://www.zerohedge.com/news/reuters-reports-hedge-funds-have-found-greek-default-trigger-loophole
I like .786s. That thing looks like some prehistoric dinosaur teradactyl bird with 4 wings.
Means 1 to 1 such as AU = 1.00, leading currency is worth the same as the base currency.
Great article over at FXLive about the whole Greece deal.
http://www.forexlive.com/blog/2012/03/08/the-real-headache-is-from-the-internationally-written-bonds/
Here's an almost laughable look at the psyche of voters. Forget the reasons that caused it, just give me cheap gas. Friggin shame it is for people to be so damn uninformed about the causes and only concerned about the end result. Crap like this is why AU is above parity.
http://minnesota.cbslocal.com/2012/03/07/gas-prices-now-a-big-factor-in-presidential-election/
If it was to make it back to 130.30 I'd be inclined to be short again tho
Here's another thought. Been trying to figure out the .707 peeloff from the top and then the sequence of fibs in the impulse down. Lot's of the extensions match up with .707 variants i.e. 1.414 and we really haven't seen 2.618 yet so be maybe likely that we see a .886 extension (will show as 1.128) from that low over to the 2.618 to start a leg up around 1.0490. I gotta work today so I'll probably close my short before I leave wherever it's at but that 1.0490 should come into play before the weekend I would think.
lmao Pennies. One weird thing in that chart I just posted is this .447 is the inverse of 2.236. Can't put my finger on it just yet, but I find it strange that we had a 2.0 in the blue gartley before the drop, and then .236 served as a lid down there until it popped. 2+.236 = 2.236 but not sure how it all fits together yet in the big picture.
lol, got there quick. I'm out for the night guys, it may run on to whatever but I'll have to latch on to it later.
Have to think that since we veered off there at the top .707 and we've got an inside triangle here at the .707 with 1.414 extension stops in between that we see a .50 fib retrace to about 1.0680 or so or maybe 1.0609 at the .707. .707 the square root of .5 and the inverse of 1.414. I think above 1.06 is pretty much a given here.
No I've already left the trade so haven't really been focused on it since. It's a volatile booger tho so be careful with it. AU behavior makes me think risk-on for a while tho even if it lasts just overnight.
I think that's likely. The fact that we have an uncleared fib here in yellow and such hesitation makes me think we've hit a larger timeframe moving average like maybe the daily 55 or 89. That point doesn't jive with anyone of my extension targets based on that .707 move from the top or it's derivatives. Matter of fact we've got consolidation at .707 of that bottom whatever support level it represents.
Well it takes some getting used to but I like to know or at least think I know what is likely to happen next. I find most points of substance happen at the .786 (and it's reciprocal 1.272) which is the square root of .618.
I can't for the life of me figure out why it's not going down like a toilet flush here so thus my thoughts about the inside triple bottom.
it may go up.
Strikes me funny that she stop right there short of the low, that's was why I got out. I see these from time to time that look like triangle but they finish up inside the low/high and usually break the opposite way that one would expect. I'm on the sidelines but the shorts may have a little surprise here.
I wasn't quite that quick on the trigger but I took it! Liked that .447 on the topside but she's not moving fast enough for me. If she was going down I'd think it would be getting there by now, may see a bit more of wave 4. Good job SG!
Well I normally don't like to enter a trade 3 minutes before news but I'm glad I shorted AU there!
Yes and that would fit in with some of my thoughts about SPX long term too. Gotta head to work but I'll post the charts tonight when I get home.
All in all I think long term this drop is hogwash. I know everything you read is skeered to death of contagion but in reality it's no new news and while it may signify something quite larger, the effects have been no doubt calculated to the nth degree in almost every scenario. Greece economy in world rankings is in the 30's, even smaller than Dallas-Fort Worth. For the sheet to hit the fan we'll have to have something a bit larger than this to bring the markets to it's knees. Something like Spain or Portugal. I'm sure there's quite a bit of hand-wringing and posturing about but in the end they'll figure it all hunky-dory and back to running the tapes as usual.
In the grand scheme of things Greece isn't a pimple on a gnat's ass until the domino effect starts. I doubt half of the traders out there today across the world really know firsthand what risk-off really is because of their age. I say they pick up the torch and run the deal through and then when Spain or Portugal or someone else comes along and they realize the the rug isn't big enough to hold all the shit they need to sweep under it, then the wheels come off the bus. I say AU 1.10 or higher eventually, not sure from where yet but it's getting tempting in the next couple hundred pips.
So going to wait on my DXD and SRTY plans a bit and see what happens in the next 6 weeks or so.
It's an extension of that orange line, the mini wave 1 that started the run to the .707. Right click on your fib tool and then add.
Here is a discussion on the fibs and ratios and what they mean.
http://www2.stetson.edu/~efriedma/numbers.html
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65483534
Gotta learn em bud. This is a zero sum game and I promise you during an impulse wave folks are looking at extensions. If you look back on your chart in almost any timeframe you will find instances of price action in a different direction than the TDI market baseline primarily when over or undersold, use this knowledge to estimate a likely turning point. The TDI is an RSI based system so it can be oversold or overbought for extended periods so couple that with something else like the fibs and you will see some improvement in your trading.
Wave 4 probably be around this 1.0490 2.618 extension. Beginning of it anyways. Don't know how far it will run, the top was .707 so I would figure at most the .50 fib. Judging from the .707 at the top I would suspect the extremes will be some variation of .707 like 1.414, .50, .707, etc.
There is the possibility that we've already seen it (maybe in the orange circle) and that we have ABC retrace for a semi-major wave 2 starting at the 2.618. I doubt it though.
Edit: I forgot to add the tdi market baseline is beloe 30 so look for an increasing baseline that gets above 30 with decreasing price. That should mark the end of wave 5 of the first degree wave 1.
Yes it will. Wheels have definitely fallen off the bus. Tried one little long there on AU at 1.0555 but got out quick. No going long for me or short for that matter!
Yeah 2.236 showing up here on AJ, I think it's due for a retrace jav. Prolly about 85.40 or so. Would think 1.0555 on AU.
Sure does look like impulse here to me on the 4 hour.
If we were going to 1.10, here would be about the .618 retrace of the entire move if this were indeed a wave 4.
What r your thoughts about this wave count?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72851291