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I think we go down some here. Probably a good place to load the boat on euro once complete.
Euro. Guys with a daily divergence like we have here, it is much like AU back in the .97s and then it run to 1.8. There has been no divergence in the last 4 years like we have now with lower price lows and higher lows on the macd without a zero cross in between. Euro has been the most shorted currency since 2008, 4 years it's been headed down. There are tons of money out there itching for a return above zero and bad news or not, risk pairs and equities are going up. It is the cycle of things. There will be retraces along the way but risk pairs and equities will run for at least 3 months so please please do not bust an account trying to stop a freight train, especially this early in the game. The trend has changed so make sure you are on the right side of the trade.
It's flat because it's going one way. No indecision right now. Best to not try and pick tops here.
Well it's almost like which came first, chicken or egg. According to gann rules it was time. If you look at the macd, it's going to run a helluva long ways with that divergence backing it. Funny thing is EURCHF hasn't moved a pip or two. That thing reminds me of buying shells that just sit there for ages and then go 2000 percent in a day. With EUR moving up I'd say we're in for a long climb on equities too.
Yes it does. In terms of a fan, that top there would be the 45 degree line or a 1x1. 200 pips from the bottom or 2. Square root of 2 is 1.414 or the diagonal of a 1x1 square. Would suspect we'll have another opportunity to go long at between 95.35 and 95.25.
That being said, I'm still suspicious just a bit here because of where the bottom came in two days early.
My my how spot on that 95.05 would have been, and at 2:30 pm. Guess I should trust myself more lol.
I drew them manually with the insert/shapes function in MT4.
I imagine very few people draw them correctly and I may not have haven't either. I didn't include the triangles but the ones I drew are based on squares of time. Fully expect a reversal tomorrow on euro.
Actually make that 95.25. At 2:30 this afternoon lol.
Leaving a short order for 95.05 guys. Gotta run.
I don't really do the fan much, once you read more you'll understand why. There are people who do very well with it but it only works on equally spaced charts, i.e. you can use it intraweek because there are no spots but when you start putting points outside the begin or end of a week then scale becomes an issue because for every 5 bars in a week there are two that you don't see. Weekly bars work good because there is always 2 days between them.
As far as reading Patrick Mikula, Gilmore, if you can find a copy of Trader's World issue #30 from 2001 it will help too. I saw it somewhere but don't remember where.
Yes EJ. Might be a good long depending on what the price does when it get there.
Be cautious with the fan because the scale factor will mess you up because it is not scaled right. Go to the basics and read what Gann said about time and the Square of 9, they are the keys. Once you understand those you will be good.
Should be a good short play coming up at 11:35. You got 30 minutes to get some popcorn and a coke.
Normally I'd never short it right here but I believe us a day early on the bigger chart so that's why I looked at it that way.
Very likely here. 144 bars from the peak.
We will see a bottom this week. Either today or Thursday.
This is the best divergence play on the daily since 2008. We may go a tad lower yet but we're about to see the best run in 4 years happen here.
It's time.
Wonder how long he been short. Seem to me a little late to be figuring that piece out. When the crowd runs for the cliff then time to turn and run the other way.
I think Dalio is about to cover whether he like it or not.
Time to blow that sucker up!
It's about to be risk on in general for a while me thinks. Lots of people going to be wondering WTF on the way up too. I'm even long S&P in my 401k surprisingly.
Kinda make you wonder what they gonna do after everything is downgraded. Rising water affect all boats so guess they just start over like grading on the curve.
Yes, it is what always happen when there is no vested interest. Spending others money with no accountability = reckless behavior. You and I are accountable because if we lose our money then nobody give us more to trade with. Now give me some of Pennies money and I'll throw it at every dip to see if it sticks lmao.
It's a great study in economic socialism and hopefully the US and rest of the world will take note. Maybe it better if the EZ quit subsidizing those that won't live within their means. What we have now is the result of decades of that subsidy.
More than a 1000 pips to be made right here guys for those of you that can stay with this. I think max Wed before turn. This is wave 5 and we've already got bullish divergence so when the time comes it's gonna rock big time. No way that this MACD gets lower than the first low without a big, big run first. I won't go into the bar/time counts but you can see the patterns. Remember this is a zero sum game.
Any of you guys missing bars on your charts? I fire up MT4 tonight and find 6 months of bars missing. That crap make me suspicious. I updated it through history center and they still missing.
I'm convinced it will go boom boom still.
It's going to be major trend reversal for several weeks. Got to be, can't have crappy markets with an incumbent running for office.
Would suspect all risk more or less. You can only beat a dead horse so much. All the negative stuff you hear but what's the alternative? Every currency out there is in the same boat. I'm convinced this is a bottom. There are some other things drawn from different points on that chart as well that indicate similar as that one.
Be careful with euro shorts from here. Monday mark 4 complete calendar years to the day since the top.