1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Timless77 Currency Journal Practice Pure Patience Produces Pure Profit

Discussion in 'Personal Trade Journals' started by kasim ijelu, Dec 9, 2011.

  1. kasim ijelu

    kasim ijelu Private, 1st Class

    Joined:
    Mar 11, 2009
    Messages:
    44
    Likes Received:
    0
    gbpusd bearish harmonic count 091211.
    1.5792 Will have to stay intact along with the 50 Day moving average Light blue line a break below RR 1.5431 will further extend our bias to 1.618 target of 1.5030/40 area. In the blog there is an Altnative count to the upside for the £ pls check it out.
    Must admit markets have been wild, and difficult to read at times, but will stick to the plan and see what happens. Keep risk tight and manageable and. don’t do anything stupid! :-0 More to follow p.s this is a weekly chart
    euro bearish wkly harmonic count 091211.
    Euro in a bearish dwn trend @ 1.3692 wkly pivot Must Hold to continue slid to Strong support target D @ 1.3170/1.2851 it can extend to 100% expansion from the AC high, however strong support may not allow this between 1.3148 and 1.2888 plus Mr price is sliding along the Poseidon Medium Line suggesting a pull back at any time. else Meaning we could see a strong rally in the euro soon So keep your wits about you, keep tight stops and manage risk, more over watch for the organised confusion in the news. ;-)
    audusd wkly harmonic count 091211.
    Aussie overall Market structure has held @ 0.97084. However Mr Price is below weekly Pivot @ 1.0215. So a break above and hold above 1.0215 will strength our bias for the test of the top @ 1.1075 then the 2nd target of D @ 1.2359. Otherwise it is possible for market to trickle down to 0.9679 Poseidon Base line and support area. Depending on what happens in Europe, Aussie has had not so great news of late so sideways action is possible with the down ward sloping trend line and a trickle down to support area @ 0.9383 and then 0.8747 is possibale. which will cause break out of the poseidon pathway and market stuctute I suggest standing aside and waiting for a clear signal. Break out of the Poseidon line down or a continuation within the trend up. Still There is loads of pips to make.
    Practice Pure Patience Produces Pure Profit

    ......................................................................................

    The remaining Currency

    Expecting Some Consoldation in the Cad to the short term upside, However i'm be aware of the double Top at the 200 Day Moving average 1.05874 an the 50 DMA @ 0.9939
    And Mr Price is in the middle @ 1.01668 so the bias is split. we will be slight bearish below 1.1120 to the base of the poseidon line @ 0.9942 a break from there

    The harmonic count says the next leg is down to D @ 0.95690 which is the 127.0 Fib ABC the Low at 0.9405
    this also coincide with the weekly trend dwn.
    Below B 0.99110 We will be strongly bearish
    above 1.0207 nadd hold we will be strongly Bullish

    USDChf: NOT Sure at the moment with the Chf the bias is on the bid side still i'm Expecting some consoildation b/4 the next push up

    usdjpy:Strong bullish above 84.16 bearish below 75.52

    At the moment The aligator month is closed MA 13,8,5, Not sure what to expect from the USDJPY

    So stand aside and waite for a clear signal

    You can also twitter me @ Timeless77 or my blog Timelesstrading.blogspot.com
     

    Attached Files:

    #1 kasim ijelu, Dec 9, 2011
    Last edited: Dec 10, 2011

Share This Page