Posts by "daveo"

cad, stocks and DX been supporting crude, only ingredient lagging is gold. Do we get a year end rally in stocks ? you know who controls that one !

catnip, which strength meter are you running ?

Subway, Your EW analysis post very good. Just one thing I would want to clarify:-

The move up from the June low at 1.1875 to the Nov high at 1.4280 could also be an ABC corrective rather than a 5 wave sequence. For this alternate count the wave A is at 1.3333 and the wave B at 1.2587 with the completed wave C at the Nov high. Both waves A and C have 5 waves within to meet the criteria and the wave B was a corrective. The implications are bearish with new lows to follow well below the June low.

With EW I always look for alternate counts which need to be made very clear to avoid getting married to a single bias. Price action will dictate which count to follow in due course which was covered in your analysis by detailing the "longer" term patterns. The value in EWA is creating a map with some what ifs at specific levels and most of all having a pretty good idea of what to expect. Pattern recognision takes the "random" out of trading.

FXDave, nice to be appreciated, ty :-) The forum is an extraordinary mix of ummm, how should I say, wayward warriors ? :-)

AUDUSD broke the daily trend support line for 3 days each time bouncing back above, so I am still expecting my reaction levels to play. Nothing is ever certain of course as you well know. Would be far too easy and incredibly boring if anything was ever a certainty in trading. Mind you, if find you can ever prove me wrong on that do let me know :-)

AUDUSD, I'm still looking for 0.9495 or 0.9372 for meaningful support levels (trend line was breached)