Same chart as yesterday (only this one won't CRASH at the end like yesterday). Doing a little research on Euro/Dollar volume - price - time . . . working on a theory. Currencies can be manipulated, too. Run up on low volume to new highs, sell high volume to lower lows. Raise the Euro, save the world. <<< IMPORTANT THOUGHT for your trading strategy.
Top of the EU price channel is about $1.27, BTW. Look for the Euro to move to the top of the Euro [XEU] price channel while in EDC, watch for the Euro reversal at about 1.26-1.27 and jump back into EDZ? Just a thought. I bet the play makes a ton of USD's. It also forms a head and shoulders pattern for the S&P. It all makes sense as a probability, doesn't it? All theories come together:
*Save the world markets by raising the Euro
*Form a leg up that pretty much HAS to happen statistically
*Head and shoulders pattern forms for the big one
*Market then finishes the major correction by blowing through 1044 and goes to 950ish
Any thoughts from the smart ones here? I'm thinking about committing ALL to this plan until it proves itself wrong. It could be a 78% EDC/EDC gain IF it plays out. Can I get a star or two for this theory? -GLTA
Doc, just a thought on a temporary pull back..... UUP technicals show a bottom on a 30 day chart, suggesting we may see a few days of upward movement again in the UUP which will cause a decline in US markets. This doesn't fit in well with the march up to 1144 in the next few sessions. Your thoughts? Other's welcomed that have a better handle on currencies than I. Does UUP and DXY cycle with MacD's and RSI's or are they independent of such?
I think I know. Doc's ranch. Beers. Forbidden stock talk under the stars? Rules are made to be broken. That one was good. Up $3/share since that conversation. How many did you buy Cramer?
I guess stars aren't given out easily on this board. I'm in EDC and planning to stay through thick and thin to mid 1100's. Ron Walker says 1170. 1144 might be a conservative exit, Sterling.
This is a good post. If I were a star giving guy, I'd give it 5 stars.
Copy and Paste of Crazy Bruce's post where it fits:
as far as my study of the 8 major currencies, I find sterlings Theory to make a little sence atleast on the daily and weekly charts. however on the 60 minute chart and 5 minute charts, it shows an inverse relationship compared to the daily and weekly charts, with the dollars index BOTTOMING OUT and the euro TOPPING PUT.
The longest range chart is always the best indicator, so sterlings theory using the daily and weekly charts would prevail... using a little caution as the 5 minute and 60 minute charts suggest up and down volatility along the way.
Ditto. In at the bottom, out at the top. Should be EDC 26. Plus, there is always the possibility that that is all of the correction we get. I know that is not a popular view on this doomsday board but IT IS POSSIBLE.
I am analyzing the both euro and the dollar index on my 5 minute,60 minute, daily and weekly chart. while I am at it, I will also be analyzing JPY,GPD,CAD,CHF,AUD and NZD currencies as well. Sothat'll be all 8 major currencies I'll be analyzing on 4 different time frames ... I'll get back with you on my findings.
I am analyzing both euro and the dollar index on my 5 minute,60 minute, daily and weekly chart. while I am at it, I will also be analyzing JPY, GPD, CAD, CHF, AUD and NZD currencies as well. So that'll be all 8 major currencies I'll be analyzing on 4 different time frames ... I'll get back with you on my findings.
I'll give it a try. It does make sense. I'm out the first hint that you start to become an idiot or moron. (kidding, of course - although I will bail if it looks like you are wrong). You are a smart guy Doc more often than not. I would like to see some posts that don't agree, with reasons why they don't agree it may be a likely possibility here. Trade plans make more money with less effort and less error than daytrading, IMO.
BA . . . don't trade my trade or anyone else's. NEVER trade on information from a message board. Make up your own mind . . . I just put an idea out there for discussion.