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Another good read on this subject.
http://www.forexlive.com/blog/2012/02/29/bad-position-helpline/
Daneric's got a pretty good chart of the USD.
http://2.bp.blogspot.com/-fO1S1J4Z2tU/T02KLEzD0nI/AAAAAAAALqw/zpPoFgR0Q9c/s1600/usd.png
http://danericselliottwaves.blogspot.com/2012/02/elliott-wave-update-28-february-2012.html
I hope it's still up here time I get home cuz I'm gonna short the bizzlesheet out of it.
Well I left a short at 1.0785 before I left for work. I felt like earlier it didn't touch the trendline. Just not sure if it knows it or not. Hope we stick it for 300 pips
Lmao SG I friggin agree. There the dang thing au back at 1.08 again too
lol Pennies, that dog doesn't know when to stay in the doghouse! Gotta say it looks very bullish to me right here. Don't know much about daggers but it looks like one to me.
lol Jav! Closed my shorts there at 1.0745 so you guys take her away.
Yeah. Go figure them damn candles on AU.
Yeah this is critical level I think. Just can't get a good red day for nothin nowadays.
That's what I think too. Time for some red me thinks.
Twin Dojis on the Dow. Maybe that divergence with the transports will kick in.
Well I'm going short. I don't see how that thing could go up much more than 1.0840 without making some decent retrace first. It may be made of teflon lately but I think 1.04/1.05 on that trendline first. Also I don't see this MACD on the daily turning back up significantly to push it much further. I'm sick of the damn thing just churning away of up too!
Kooky little screwball today ain't it. Straight up there.
I'm looking at all of them. Really looks like a double top to me at 87.30ish but I'm scalping the waves a bit here.
86.40 close enough for me. Looking for 85.
Waiting for an ABC on AJ to go short again. Took 122 pips from my short last night earlier.
I think it's been a stunt double for euro the last few months thus the disconnect. Best long trade I can see is EURAUD and maybe EURCHF because of this. World is seeking risk-on because there isn't a high yielding alternative, Aussie has been it in place of the Euro. Flows move back into euro and I think Aussie is in vacuum. Only explanation I can see that makes sense.
So why is this?
I overlayed DXY with AUD/USD and since the crosshairs about 11-23-11 or so we've seen a total disconnect between AU and the index which has resulted in this walk-the-plank looking chart on AU. Obviously divergence in it's basest form but why? I can only suspect that it has something to do with crossflows relating to the euro/Greece situation but mapping it out in my mind is hard to do with the butterfly in Tokyo scenario. Any thoughts?
Weekly trendline here on AJ. Shorted all I can afford. I'll be watching for somewhere to take a position long on EURCHF.
I agree about the retrace SG. More impressed I was with her statistics about the 4 times in the last 18 years or something like that it was.
Consolidation period but up or down? The weekly TDI signals are above the market baseline so it's going to take something abrupt to change the trend. As far as carry trades go not much better place to park some funds.
I do think the DI target is right on, been expecting a top trendline hit on that for months. Funny thing is though it's already halfway to the top trendline and no connection seemingly with equities. Several months ago I would have thought that by now we would be at 10k or less on the DOW. So maybe not as low a dip as we think this time but dip we will I think.
dejavu from June 2011 lol.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64758671&txt2find=index
No volume in equities.
http://www.zerohedge.com/news/nyse-volume-new-decade-low
But could take a similar approach with FX with volumes on for example all the yen crosses I would think.
Weekly trendline coming up on AJ at 87.23 ish.
Well Don you've definitely sparked my interest. Thanks for sharing that info. I'm going to put together something in mt4 for forex once I go through it all and understand it totally. I usually get so dang hog wild happy about profits I seldom let a trade run to fruition.
EURAUD crossflows weighing on it I think. 50 retrace point here should be interesting.
Awesome thanks!
That's interesting Don. I saw where you and Pennies were discussing clx and you mentioned a thread about it. Is there somewhere I can find that to do some reading over the weekend?
I remember that too, back then I think I was still reading quotes in the newspaper lol. Percentage wise tho that was a big drop. I think that was the year I bought 2 100oz Englehards with my tax refund money and was gonna hold them till the next Hunt bros came along lol.
Evidently it be here since AU make pin candle too. Bring some carnage baby.