JayJay
Short

Major EURUSD reversal coming up..

FX:EURUSD   Euro Fx/U.S. Dollar
1672 41 18
EURUSD             approaching descending trendline from 1.6 high within an overall corrective EW pattern along with 0.618 retracement from 1.50 high / 1.20 low.. This count calls for another major leg down towards the 1.20 lows.. Current major leg from 1. 2750             is also overlapping and thus corrective in nature adding further weight that current leg is a "B" wave..

We will be looking for a catalyst over the next week or two, most likely coming from Bernanke or Draghi, to halt the recent EU advance.. Shorts from around 1.3850..

Follow up on this chart:
Major EURUSD reversal 2
Good video on this: http://www.youtube.com/watch?v=q1X43lcU7Ck
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alex.a JayJay
LOL
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JayJay alex.a
:D
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snapshot


Bearish Shark: A-C leg in this chart is not entirely in proportion but divergences add further weight to the bearish view..
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I'll have to do some research but, is it possible for a double zig zag to also be a triangle. I'm thinking that your analysis is actually more bullish than bearish. which case the triangle is complete abcde and headed higher from here ?
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JayJay dojitrader
Its a ZigZag in shape of a triangle.. dont see a problem there.. Major issue I have with ABCDE, however, is that the last leg "B" does not have a clear 5 wave structure to qualify as impulse wave after "E"
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99nines JayJay
1.395, pull back... 1.423 - major reversal.
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JayJay 99nines
lol.. you again? .. :p
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wow JayJay I have almost the same
EURUSD long-term idea
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Nice! ..
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JayJay JayJay
High might be forming.. short around current levels for initial take profit at around 1.3475..
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alex.a JayJay
It seems like it will go until 1.41662.
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alex.a JayJay
Because the US gov shutdown data will drive it there. Pre-GDP US has that NFP data. with this fact, 300 will go, not to mention tomorrow durable goods, if it comes out bad.
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JayJay ForexTools
thanx man! ..
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JayJay ForexTools
wow.. that one worked out quite nicely, didn't it?
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dont think it can go below 2976
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Along with this new publication..

Major EURUSD reversal 2
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JayJay JayJay
Major EURUSD reversal 2
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JayJay JayJay
Not too bad ejhh?.. Approaching good place to lock in / take some profits for those who are playing this short term..
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JayJay JayJay
Nice little shooting star here on the monthly chart right after our 0.618 retracement..
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JayJay JayJay
Looks like we've got our catalyst here too.. enter Super Mario.. :)

http://www.dailyfx.com/forex/fundamental/us_dollar_index/daily_dollar/2013/10/31/Forex_EURUSD_Searches_for_Support_Amid_Growing_Threat_for_Deflation.html
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alex.a JayJay
Whoa - "Our" catalyst ~ incredible collective knowledge and having togetherness - Not to mention - profit - Thanks -
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JayJay alex.a
yeah, sweet isn't it? .. was thinking the same thing.. np.. best of luck..
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Congrats JayJay. May I ask you how can I reach your level of technical analysis?
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JayJay Shadowbrokerltd
wow.. that's too much credit I'm sure.. but practice makes perfect as they say.. :) .. this one was relatively straight forward though.. 0.618 retracement with divergence on the daily, and later, the weekly time-frame as pointed out in this post.. a major point of interest and giveaway to me, though, was the overlapping, and thus, "weak" price action on the daily since April 2013.. which I think is a major area of importance in any market; that is; learning to identify impulsive vs. corrective price movements.. Look into some EW theory for this.. and of course we have Draghi emphasizing for over the last year now that "inflation expectations remain firmly anchored".. :) .. best of luck..
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This idea is now closed..
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JayJay JayJay
snapshot
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JayJay JayJay
crapp.. wouldn't post the updated version..
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JayJay JayJay
one more time..
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JayJay JayJay
snapshot
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