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Overall Bearish Euro as long as 1.30 RR holds

Discussion in 'Market Predictions and Reports' started by kasim ijelu, Sep 10, 2010.

  1. kasim ijelu

    kasim ijelu Private, 1st Class

    Mar 11, 2009
    Likes Received:
    Still bearish as long as we under 1.30 RR 1.28895 200day 4hr SMA

    At the present time we are in a corrective Wave pattern. For all these reason it can be difficult at times to fit corrective waves into recognizable patterns.
    Eur/usd was supposed to break 1.260

    but as Master Trader Sive said it market should take out the lows as he very well predicated. (Brilliant Guy)

    Now prices have risen with bullish a Engulfing bar bullish stochastic and possible bullish MAC/D on the 4hr time frame
    This is good as the mouse (prices ) play into our very carefully planned out trade.

    Therefore, we must exercise more Patience and be flexible in our analysis
    The elwave Principle knowledge: The most important rule that can be gleaned from this study of various corrective patterns is that corrective waves are never fives. Only Motive waves are five.

    :nerd:So our present view of the Euro is 3 wave buy up or a A-B-C up To go short.

    Zigzag correction: Ref page 42 Elwave princple

    Prices on this rallies could reach a number of corrective prices i.e 1.2775 minor RR,1.2805= weekly RR,1.2854= daily RR and 1.28894 =200 day SMA

    This is the most difficult Part of trading our Motto is
    Practice , Pure , Patience, Produces, Pure , Profit
    (The Plan which i will post fully in a moment all you need is Word to Open)
    but for now
    We will attempt a short @ 1.28894 or 1.30 on the condition that the 4 hourly stochastic is turning bearish followed by an hourly sell signal.
    When the 8day SMA cross the Middle Bollinger bands and holds on the hrly. only then we will attempt a short.
    Sentiment at the time should be extremely bullish on the euro bond buying and presently Greece job rate 11.6% vs 12% in May.
    Continuous good news should Push Euro to our target prices hear we will attempt to fade the news.

    Stay tuned as the world of Money Making unfolds.

    K&S Analysis

    Thank you :)

    Attached Files:

    #1 kasim ijelu, Sep 10, 2010
    Last edited: Sep 10, 2010

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