Not a technical trader but... I think I indicated that by the end of the day... if we didn't crash through 1.2500 (that we did) then I tended to agree with RT about the bottom. However... with today's break through 1.2500 into the 1.2400s... I think we have not hit bottom. Next week could bring more of the (downward drifting) same. dd 1.2513
Hey guys, On 4 hr+ charts we got 3 major corrective waves down. (bottom at 1.2476) Then 5 waves up ended today. This is a strong bull signal. But there needs to be a correction to the 5 wave impulse wave. sideways or deep is the only question. Usually is a deep 78% retrace after a wave like this. but over all up trend should resume shortly a s/l below the 1.2476 low is a good place. a wave 2 cannot retrace more than 100% wave 1. Only that will blow the bull theory. Dave
late in todays day session someone was bidding for size in EUR ... now was this real or "spoof" ... I do not know the bid was approx 1.2645 for over 500 Eur - fx Sep Futures now it will be interesting to see if size shows up again at those levels or if size trades there ( hidden order ) ? or if the whole thing was a "bluff - spoof" that never got tested and hour or so ago
Okay the hell with the dollar bull thing. I covered my trade at 2521 for a 117 point profit. I am now long (a bunch) at .12519. Makes my head spin. Fed should move the needle tommorrow. Too much priced in the down move in my opinion. DRT
Buddy, that's a COINZ trade! Great work. We're on the same side in this and all, you know, but, "the clue for this was the price action in the USD/JPY, a dangerous indicator. "Most feel it is but a trap luring unsuspecting bulls in only to plummet them a little above 115. I know better, it is true dollar strength." Agree, agree about the dollar flex, for sure, it's the wording, "only to plummet them a little above 115" that I'm a little hesitant to back up. I've traded USD/JPY from the 104s to the 112s... reverse direction... and... 116s to 115s does not register as a "plummet." Bearly making it out alive from the trade (800-pts vertical against me), I saw "plummets," that are, when the rate drops 100-pips a day for a week. That's a "plummet." Not 116s to 115s. That's just a fluctuation. ;-) Best, dRaWdOwN