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Thursday, February 10, 2011

Thursday 2/10/11 wrap up

Current ES counts:

ES hourly

ES daily


EUR/US$    
Been getting a good case of whiplash in my EUR trading since the beginning of the month, but when I back out and look at the Elliott count it appears fairly simple.  Don't know what happened to my crystal ball, may need to invest in a de-fogger.

EUR hourly

EUR hourly - zoomed in      - note the almost perfect .618 retrace of Minute W1 (green)

EUR daily

If these counts are correct, the EUR/US$ should accelerate down tomorrow.

5 comments:

  1. Al,

    The Euro whiplash has gotten many of us. After two short attempts I went neutral today. The lack of downward momentum was one reason.

    Thanks again for your postings. I made a favorite icon on my iPhone and named it Al.

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  2. ES to 1265 next week? A nice change in pace for the equity. lol What probability do you assign to that outcome?

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  3. If you're looking at the red dashed line on the hourly chart, that's not a price projection - just an indication of future direction. I would say the odds of hitting 1265 next week are extremely low.

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  4. Reversed positions to short EUR yesterday, finally appear to have a winner. Might add to short EUR's today.

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  5. Yeah I'm short again too. Good luck next week!

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