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- thegunslinger replied Jan 23, 2013
We're reaching the end of a long triangle consolidation. Price swings get pretty volatile because everyone wants to be on the "right" side of the breakout.
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- thegunslinger replied Jan 23, 2013
It busted a few levels on its way down it needs to retest. It'll get back down there. This just gives you a much better entry to short!
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- thegunslinger replied Jan 23, 2013
Closed for another 20. Now, time to see if NY can carry this further or if we'll just range.
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- thegunslinger replied Jan 23, 2013
Don't think so. You generally don't break a strong TL such as that by racing at it in one bar 80+ pips. I expect us to move into a B wave correction now. I grabbed a long off 3270.
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- thegunslinger replied Jan 23, 2013
H&S neckline busted big time. This might go pretty far.
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- thegunslinger replied Jan 23, 2013
Here's my counts. From the yesterday's low, which was a Y corrective wave.
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- thegunslinger replied Jan 23, 2013
I don't think this is a motive wave. Just a B wave correction.
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- thegunslinger replied Jan 23, 2013
Morning guys, Looking for this to go down now. Looks like we just completed another ABC zigzag, with C being an ending diagonal. So we should be getting a decent move down now. 5m chart. Based off the 1H numbering I did yesterday.
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- thegunslinger replied Jan 22, 2013
It's not easy, to be sure. It's all about pattern recognition and either you have a brain that can do that easily or it takes some training before you can do it.
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- thegunslinger replied Jan 22, 2013
PA suggests this should go down. It looks like our wave C correction should be happening. Maybe a retest of 330x?
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- thegunslinger replied Jan 22, 2013
Yesterday was a bank holiday in the US so no trading here. And there was not much news either.
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- thegunslinger replied Jan 22, 2013
Closed out for +20. I think we completed the A/1 wave and now it's in correction. Plus I don't want to lose it all if Draghi makes the market drop.
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- thegunslinger replied Jan 22, 2013
We Americans say "Got up on the wrong side of the bed." Seems like all the same basic meaning.
Trading EURUSD onlyLooks like we've completed an extended 3rd wave of this 1/A wave in the new cycle. I'm holding my long for 3323 which is the 50% fib of the last move.
- thegunslinger replied Jan 22, 2013
Who knows? Heh. It's either another A wave in a correcttion or we're going to start the final leg of the major cycle's 5th wave up. Either way, it should be an impulse/motive wave. I'm long from 3285.
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- thegunslinger replied Jan 22, 2013
Well, the problems with books is that they always cherry pick examples that are nice and neat and easy to see. But reality is that the markets are seldom nice and neat to look at it. And so it becomes the task to decipher the price patterns in those ...
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- thegunslinger replied Jan 22, 2013
Practicing some EW. What do you guys think? This is the 1H. This was right before this leg down which I would say is the 5th leg in the C wave. Which in turn is the last leg of the Y wave of the longer term correction.
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- thegunslinger replied Jan 18, 2013
For the longer term? No. It looks like we're going up overall. This is just a corrective move.
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- thegunslinger replied Jan 18, 2013
I don't think 5w is finished. We're in a fractal wave IMHO where the 5w of a lesser cycle is about to start. I'm targeting 327x for the end of the major 5w before we get some corrective action. See my last post with the 5M count and extract out to ...
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