Just a quick note; the EUR/USD is declining in 5 wave suggesting the trend has turned down again. It's probably a little late to get short now, but I'll be watching the pair for rallies to try and get an opportunity to sell.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.
4 comments:
If there is any correlation left, its not to late to short equities with a tight stop, todays high plus 10 points on dow or 3 points on s&p - maybe.
jd in fl
Todd:
With this count we need three "corrective" movements up.
The dollar is dead, I don't see any good in another pairs.:-).
Waiting.
I like your thinking JD. I took a small position in the QID (double short Nasdaq 100) this morning with stop executing if the S&P makes a new high above yesterday's. So we're on the same page. If the decline accelerates impulsively, I'll add to the position and probably short the S&P as well.
What market(s) do you trade? futures, cash, options?
Todd
Yeah, I would like to see a nice corrective rally made up of overlapping choppy waves so I can pound the short side.
Todd
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