Comments on: Year to Date Elliott and Momentum Look at the Dollar and Euro Indexes http://blog.afraidtotrade.com/year-to-date-elliott-and-momentum-look-at-the-dollar-and-euro-indexes/ Helping traders overcome fears and emotions in trading Thu, 09 Feb 2012 14:53:15 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Bob http://blog.afraidtotrade.com/year-to-date-elliott-and-momentum-look-at-the-dollar-and-euro-indexes/comment-page-1/#comment-212777 Bob Sun, 20 Dec 2009 14:56:07 +0000 http://blog.afraidtotrade.com/?p=5249#comment-212777 In both charts, critical chart features to note are the gaps that occured on or about September 6th. These features mark a moment in time where price broke a major technical level (support/resistence). As price retraces, these levels are now significant. For the USD, this key level of resistence is near $78.50; XEU it's near $142.50. Price should respect these prior levels and candles will often take the form a doji there. <br><br>Also, note the respective 200 SMA in relation to each of these key levels; convergence. With the SMA positioned just on the other side of key price levels, price will often pierce the key S/R levels, to reachout out and tag the 200 SMA. Once a touch is achieved, price often reverses to seek the support of the 20 /50 EMA to pause and catch its breath before gathering itself for another push. <br><br>With the the USD relationship is so closely tied to all other markets, consider the implications a near-term retracement in the USD might have. The equtiy markets are at a critical juncture. A shallow retracement in the USD might just provide enough support to bouy equity markets and give price another chance at breaking above key resistence levels. Hmmm. In both charts, critical chart features to note are the gaps that occured on or about September 6th. These features mark a moment in time where price broke a major technical level (support/resistence). As price retraces, these levels are now significant. For the USD, this key level of resistence is near $78.50; XEU it's near $142.50. Price should respect these prior levels and candles will often take the form a doji there.

Also, note the respective 200 SMA in relation to each of these key levels; convergence. With the SMA positioned just on the other side of key price levels, price will often pierce the key S/R levels, to reachout out and tag the 200 SMA. Once a touch is achieved, price often reverses to seek the support of the 20 /50 EMA to pause and catch its breath before gathering itself for another push.

With the the USD relationship is so closely tied to all other markets, consider the implications a near-term retracement in the USD might have. The equtiy markets are at a critical juncture. A shallow retracement in the USD might just provide enough support to bouy equity markets and give price another chance at breaking above key resistence levels. Hmmm.

]]> By: Bob http://blog.afraidtotrade.com/year-to-date-elliott-and-momentum-look-at-the-dollar-and-euro-indexes/comment-page-1/#comment-211673 Bob Sun, 20 Dec 2009 08:56:07 +0000 http://blog.afraidtotrade.com/?p=5249#comment-211673 In both charts, critical chart features to note are the gaps that occured on or about September 6th. These features mark a moment in time where price broke a major technical level (support/resistence). As price retraces, these levels are now significant. For the USD, this key level of resistence is near $78.50; XEU it's near $142.50. Price should respect these prior levels and candles will often take the form a doji there. <br><br>Also, note the respective 200 SMA in relation to each of these key levels; convergence. With the SMA positioned just on the other side of key price levels, price will often pierce the key S/R levels, to reachout out and tag the 200 SMA. Once a touch is achieved, price often reverses to seek the support of the 20 /50 EMA to pause and catch its breath before gathering itself for another push. <br><br>With the the USD relationship is so closely tied to all other markets, consider the implications a near-term retracement in the USD might have. The equtiy markets are at a critical juncture. A shallow retracement in the USD might just provide enough support to bouy equity markets and give price another chance at breaking above key resistence levels. Hmmm. In both charts, critical chart features to note are the gaps that occured on or about September 6th. These features mark a moment in time where price broke a major technical level (support/resistence). As price retraces, these levels are now significant. For the USD, this key level of resistence is near $78.50; XEU it's near $142.50. Price should respect these prior levels and candles will often take the form a doji there.

Also, note the respective 200 SMA in relation to each of these key levels; convergence. With the SMA positioned just on the other side of key price levels, price will often pierce the key S/R levels, to reachout out and tag the 200 SMA. Once a touch is achieved, price often reverses to seek the support of the 20 /50 EMA to pause and catch its breath before gathering itself for another push.

With the the USD relationship is so closely tied to all other markets, consider the implications a near-term retracement in the USD might have. The equtiy markets are at a critical juncture. A shallow retracement in the USD might just provide enough support to bouy equity markets and give price another chance at breaking above key resistence levels. Hmmm.

]]> By: Corey Rosenbloom, CMT http://blog.afraidtotrade.com/year-to-date-elliott-and-momentum-look-at-the-dollar-and-euro-indexes/comment-page-1/#comment-211670 Corey Rosenbloom, CMT Sat, 19 Dec 2009 23:56:35 +0000 http://blog.afraidtotrade.com/?p=5249#comment-211670 Wave 3 is not required to be the longest.<br><br>The rule is stated "Wave 3 cannot be the shortest wave." Wave 3 is not required to be the longest.

The rule is stated “Wave 3 cannot be the shortest wave.”

]]> By: DAVE http://blog.afraidtotrade.com/year-to-date-elliott-and-momentum-look-at-the-dollar-and-euro-indexes/comment-page-1/#comment-211669 DAVE Sat, 19 Dec 2009 23:50:07 +0000 http://blog.afraidtotrade.com/?p=5249#comment-211669 IN WAVE COUNT THE THIRD WAVE IS THE LONGEST ,YOUR COUNT IS WRONG IN WAVE COUNT THE THIRD WAVE IS THE LONGEST ,YOUR COUNT IS WRONG

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