slick60

Holy Smoke, Great balls of fire today. I was watching crude oil while this baby fell 207 pips. I was not surprised - just pissed that I missed it. The daily chart is going to show that we are moving quickly down to a confluence level in the euro at 1.3359 and a further level is at 1.3314. The latter is the balance mode from Jan 13-25 and I feel has a good chance of being re-visited. The way I am counting waves at present says we need one more down to fulfill 5 waves in this retrace. The market makers never let it finish it seems like at the high.Tomorrow may be a good day to turn this market with astrological signs. Be sharp and ready with signals. We are finally getting a deep 2nd wave type of correction that we will watch to see how this story unfolds. Generally when a point is due and there is violent price action that point will come in early. The 4 hr chart shows the same washout in price and the next point, the 9 may be in at this time. I am looking for a shallow retrace and then culmination to this move. 4hr http://content.screencast.com/users/slick60/folders/Jing/media/9963a4cd-19ee-4a73-b872-1c0ff459a702/2013-02-07_1535.png daily http://content.screencast.com/users/slick60/folders/Jing/media/4b4dfaa7-3650-4aeb-a8ce-22651ea7aed5/2013-02-07_1536.png Watch your butts traders and catch the next move! slick60

Chart here is a composite market profile of the March 2013 CL back to Aug 2011. My thoughts on what may be happening at present. Appears a balance in progress between 95.00 and the highs at 98.00. With a break we may see the lower end of the longer term profile tested below 95.00 once again. weekly composite http://content.screencast.com/users/slick60/folders/Jing/media/2520a527-b11f-4c47-b1c1-498e1c75b1f9/2013-02-07_1341.png See if we have any interest in this discussion thread. Hope so. Good trading folks slick60

HOLY SMOKE there's fortune waiting in the oil patch. These guys really move this sucker when they are in accumulation mode. Let's go get em! RTH session as of 12:45pmEST for today http://content.screencast.com/users/slick60/folders/Jing/media/ea796051-dac1-4b4b-b8c8-4d15b7956b16/2013-02-07_1242.png slick

Is anyone trading crude oil futures in TL? I would love to exchange signals and knowledge with any active traders and learn more about the instrument myself. If interested respond here or PM me. Signal chart http://content.screencast.com/users/slick60/folders/Jing/media/727c6b6d-c22c-472a-86af-3515212921f5/2013-02-07_1001.png Thanks slick60

Thought I would update the last DX chart that I posted with regard to the delta points. The chart is self explanatory. Remember that this is the 2nd pair of the EUR USD basically. daily http://content.screencast.com/users/slick60/folders/Jing/media/e2b419b0-3071-4def-a3b4-bddf921af400/2013-02-05_0656.png slick60

It appears to me we have run out of steam for a short while with the euro. The depth of this correction/retrace should help to define where we may be headed. Short term on the 4 hr chart I am looking for a 50% retrace of the move down from the high. A resistance zone appears to reside there. It does not have to stop there but monitor price with volume at that level. Daily you can see we have put in the ITD 4 high when it was due on average suggesting a retrace. The ITD 5 low is due on Monday Feb 11. It may come early or late since we are between red MTD points 8 & 9 as shown. This last wave appears to me to have had a 5th wave extension and may allow for a correction down to the 1.3400 support level and if broken further down to the 1.3250 area. 4 hr http://content.screencast.com/users/slick60/folders/Jing/media/f8b6dbca-677b-490f-9ddb-a3cd9be10e73/2013-02-05_0551.png daily http://content.screencast.com/users/slick60/folders/Jing/media/983c0bbb-526d-4800-8c16-6f7044ca9958/2013-02-05_0554.png Grab some pips guys and gals. slick60

I wanted to show a "possible" EW count on a monthly chart that I am monitoring at present. It really is 'crystal ball' sugar plums in your dreams stuff. No one really knows into the future where price is going except the LARGE market makers-the banks, funds, etc who are in collusion with the governments of the world. They can change the direction of any pattern at any time and do so as we are all aware. When one starts looking at EW patterns on a monthly time frame they can morph into several alternate counts as this one shown is able to do. I monitor fibonacci retrace/extension/alternate price projections for confluence areas and see what price does at those levels. Do the market makers show their foot prints at these levels? I weigh the possibilities and try to assess the probabilities for a trade. I do not have the money that a long term market maker has in his wheel barrow or vault or printing press. So why do I even look at the monthly charts? To try and gather a larger sense of direction. I, like probably most of you reading this thread, look for shorter term action/trades on an intraday or swing time frame trying not to expose our risk to the sharks and pigs who manipulate prices in the financial markets. That is one of the reasons why I focus a lot on the futures market-bang for your buck right now on 5 pips for less margin. Here are a few charts 4 hr http://content.screencast.com/users/slick60/folders/Jing/media/4322484e-c362-4504-a9e5-6a6742b3ae87/2013-02-02_0913.png daily http://content.screencast.com/users/slick60/folders/Jing/media/362a0bb8-1c8c-4d75-8a77-115ac2d25592/2013-02-02_0913.png weekly http://content.screencast.com/users/slick60/folders/Jing/media/465e4dcb-b083-4b0b-9d12-bb220b9c9393/2013-02-02_0912.png monthly http://content.screencast.com/users/slick60/folders/Jing/media/542a9ce4-36c5-4a7f-ab0a-492ace3b6fdd/2013-02-02_0910.png And that takes up my Saturday morning time slick60 P.S. I am thinking about doing a futures trading room that crosses over into forex also. If you have any interest please P.M. me. I would enjoy the company.

Applying the same delta solution to the DX is shown below. It is the opposite side basically of the euro and moves the opposite way unless manipulated. Note the confluence area of retrace at the ITD and MTD points coming due. Blue ITD 4 and red MTD 8. We are very very close to a turn and I will say again news at 8:30am EST and Friday profit taking will probably take place. We have a trend day at present in the euro - I am sure that will change. DX daily http://content.screencast.com/users/slick60/folders/Jing/media/00aa534c-824d-45d3-8533-84a29b7a1e88/2013-02-01_0514.png slick60

There is not much doubt this baby is a runaway wall of worry bull market. It is moving quicker than I can post right now. I will show a 4 hr chart that appears to have a potential confluence area at the 1.3725 level that may cause a rest. This is obviously an extended wave and is the third wave overall. I will show a monthly chart later with an Elliott count that I am following at present. We have the potential as I have said for some time now to get up into the 1.40's and perhaps 1.50 area before this is done. Note there is non farm payroll this morning at 8:30am - a market mover most times. It is Friday and who wants to be long over the weekend. Inventory has been gathering on the long side all week and a correction of imbalance is due. That means the market makers should be taking profits. NFP may be a great opportunity today with good news for the euro to shoot this sucker south for profit taking. 4 hr http://content.screencast.com/users/slick60/folders/Jing/media/0d5daefb-9b06-45e9-8cc4-6db653197d0c/2013-02-01_0445.png Note the negative divergence with higher prices and the macd at the bottom be careful traders and good trading to you. slick60

Ups and downs and twirls, what a crazy currency. Here is a url that may help Como se dança o merengue... Enjoy compadres slick60

The last post I made I mentioned a possibility that the wave structure that we are presently building may be done. That possibility is now greatly enhanced. We are on the verge of a retrace / correction about to take place in the very near future. On the 4 hour chart from the Jan 4 low I can now count 13 waves which creates an extended wave. We will know what degree of wave this is (another 1st wave or perhaps now a 3rd wave). The depth of correction will be our first clue. This wave the way I see it has a 5th wave extended wave. From Jan 4 it counts 1-2-3-4; 1-2-3-4; 1-2-3-4-5 to the high today. 13 waves. Elliott tells me this move will be retraced twice, 3 waves down and a retrace higher than the high today. The up move will become an irregular correction if we are to go waaaaaaaaaay down OR will become the start of the next impulse structure north. I will monitor the retrace closely. Short term it appears we have a 4 hr high in place #4. It has occurred at this time or earlier 73% of the time in 37 cycles that I have charted. On the daily chart you can see that we are due today the 31st for an ITD 4 high. Is it now in? Time will tell. This is a strong move north but will not go in a straight line. We need to take a breather. 4hr http://content.screencast.com/users/slick60/folders/Jing/media/768139b2-98d6-4339-98c3-2abc60e2b5c8/2013-01-30_1905.png daily http://content.screencast.com/users/slick60/folders/Jing/media/c81a9d47-966b-429c-bbdc-66b4a18b303b/2013-01-30_1907.png Take care folks and many happy trades to ya'll slick60

Now that M.A. (above) has pointed out the "good news" in the euro community that has caused this move north we should be away to the races. That is perception, and now we may be ready to make a more substantial correction to this five wave retrace. I see completion of a wave pattern that may be done or very soon. Of course as we all know any wave can get extend so be wary. The 1.3490 level appears inviting for a pause at this time. A large quarter resides at 1.3500 and it is also the major midpoint between 1.3000 and 1.4000. We are inside the overshoot area within 25 pips of the L.Q. thus it has been satisfied at this time and may be ripe for correction. Two charts today show a parallel channel which is now in play at the high. Do you think we will push up through it with the "good news"? Be careful! There is a lot of information on the daily chart. Study it to get a handle on where we "MAY" be in this market. 4 hr http://content.screencast.com/users/slick60/folders/Jing/media/585b74dd-b1dc-4be2-9f60-949088dc5b55/2013-01-26_0911.png daily http://content.screencast.com/users/slick60/folders/Jing/media/2117cd89-b9da-4e39-9205-b7525feae5be/2013-01-26_0903.png Good trading folks slick60

Looking at the euro today it has retraced .886 of the move down from the recent high. The .941 has been popular lately for retraces and it may go to there on the upside before down. I feel the ITD 2 high is in and we are working on the ITD 3 as seen on the daily chart. I feel it is far too early for a Medium Term Delta red point to have come in and we will correct lower before continuing higher. I also feel at this time the high will not be taken out at this time unless we have a rather late ITD 2 high which is possible as anything goes in these markets. I have to go with the probabilities and the Elliott wave pattern that I feel is in progress. To me we are making a 2nd wave in the start to the middle of this wave structure north. In other words the middle third wave will follow this correction if I am correct. It should have a lot of poo in it as third waves are generally the strongest. Watch for this move to still go down. BUT remember anything can happen. 4 hr http://content.screencast.com/users/slick60/folders/Jing/media/ff5da704-5ad4-447f-82d4-1638d88e5d0f/2013-01-17_1545.png daily http://content.screencast.com/users/slick60/folders/Jing/media/db87ffbb-a948-4fd2-aaec-02434431ecd8/2013-01-17_1546.png Take care traders slick60

Euro keeps messing about correcting what appears to be a third wave and has retraced to the .382 level of that wave. An ITD high is due which will be the third ITD high in a row and generally that point will come on time or early. Because of the holidays and the inversion time area that we are in this point can come a day late and thus leaves room for another high perhaps to that 1.3425 level I mentioned above. This is also the hesitation zone beneath the large quarter of 1.3500 and would be a reasonable level to pause. BUT it may go higher You can see on the 4 hour chart that the 8 low point appears to be in with the developing hammer. To see how high this retrace goes now is the question. Watch for signs of reverse within this next 24 hour period for a correction of the move up from 1.2997. 4hr chart http://content.screencast.com/users/slick60/folders/Jing/media/f15aef03-7a69-4304-a335-21e80c1593e8/2013-01-15_1531.png daily Delta chart http://content.screencast.com/users/slick60/folders/Jing/media/71c1c7ae-828a-498d-85fd-2706823dd1d0/2013-01-15_1531.png slick60

Spent a bit of time looking at this currency pair again this morning and thought I would share some thoughts and a couple charts. My main interest these days is in the futures market and don't get into here too often. It does help with the 6E for sure so time well spent creating a belief. Using Delta cycle points we are due for a third ITD high at this time. The red MTD 9 high will accompany the ITD 2 which is due on average Jan 14 or 15. Since the MTD is arriving late it indicates to me that we are still moving higher within a larger cycle due near the end of March. Near term there is a lot of fibonacci confluence at the 1.3427 area that may be a stopping point for now. Delta count http://content.screencast.com/users/slick60/folders/Jing/media/a65d0127-5c5d-4aa7-89c6-4e1e056f15c4/2013-01-12_0828.png I have shown a 2nd chart with an Elliott wave count on it that I feel comfortable with. The first wave up from the massive volume reverse back on July 24, 2012 has a very nice fibonacci break down which to me somewhat validates the count. I am following a monthly Elliott pattern that began in April 2008 at the 1.60's high and is in the 2nd leg of the correction from that point. To me the euro has the potential to move back to the 1.50's level and it appears at this time we are in the process of building an extended third wave. We shall monitor as it goes along. http://content.screencast.com/users/slick60/folders/Jing/media/a04a19fe-fdd7-4d74-b819-f4d3c5cf51c9/2013-01-12_0828.png Take care traders and study the clues as they unfold from day to day. slick60 P.S. Always remember that once the market makers have caused you to create a belief, that is when the market is often ready to go the opposite way!

The euro appears to me to be making a 5 wave structure up from the July 24 low. We have done 3 waves to the 1.3308 high and are correcting with a 4th wave at this time. Are we done? Not sure. It appears that with the Delta cycle points a red MTD low looms out there a few weeks from now. The exact ITD count shown is not for certain at this time as we are in an inversion time frame area. Exactly how we will get down there I am not sure and where we will go. Probably look for some fibonacci retrace from the 1.3308 high. Daily points http://content.screencast.com/users/slick60/folders/Jing/media/a3082b50-635e-48aa-8480-d4caedafa86c/2013-01-09_1723.png Watch carefully at this time. We may go to a new high before lower as the MTD 9 is not yet for certain either. slick60

Hi tamag I am not certain what you are referring to here. Could you post a chart showing your levels that you mention here? Thanks slick60

Happy New Year to everyone out there in trader's land. May 2013 be the year that turns your profits higher! Waiting for the "fiscal cliff" decision appears to be what is on tap for the markets at present. Will it take place during today's trading or sneak in a BIG gap to start 2013. A profile chart below shows a hole in development that I feel will get some attention before the market moves on. A balancing is taking place in my eyes. The delta daily chart shows that we are still in limbo where inversion may take place at any time. The ITD 1 low is due on average on January 2nd. That may become a gap down opening for the year. Only time will tell. Hold onto your money and your dreams while this fiascal completes. Profile 2012-12-31_0724 - slick60's library Delta http://screencast.com/t/dHTOEWA8r6ed Hope to see ya'all next year slick60

An interesting weekly chart below shows some significant symmetry in the euro market movement from the high to the low of 2012. Note the fiobnacci bar counts with the colored lines marked in magenta numbers. See the triangular symmetry of the moves within a larger "green" triangle. All sides are part of the fibonacci sequence of numbers. Some sides are 'twins' of a fibo such as 2 x 8 = 16 twin and 42 etc. Elliott discovered that similar market moves will alternate in shape etc. I have found that alternation is in the market steady. Note the patterns in this chart with alternation inside and outside the green triangle. The longest and shortest waves where they are in either up or down in the move. Whether the alternating lines of similar color and length are ups or downs. To me this is kind of compelling with the longer term 'green' and shorter patterns coming together in what appears perfect harmony with last week's Dec 21 bar. Do we end with this high of last week and are now due for a healthy correction at this time. OR will they break the pattern and continue north. One has to be hanging on the edge of the cliff at present. I hope this may be of some help to market timers who peruse this thread. weekly 2012-12-22_1006 - slick60's library The red and black numbers on the chart are of Delta MTD red time frame. Take a holiday break and enjoy............ slick60

Hi traders. As I mentioned in my last post anything can happen and does happen. The market makers gave slick an "ouch". The wave pattern is at an either or stage of alternate scenarios as is quite often the case. Shown on the daily chart below is a possibly completed a-b-c corrective pattern into the November 13 low as a second wave of five that is heading north to the mid 1.40's. Mario Draghi is saying his euro is irreversible and Ben Bernanke is saying interest rates on his side of the Atlantic will remain at next to nothing until the unemployment rate comes down to a much lower level. So we can make a case for a much higher euro. Getting close to the scary sounding "fiscal cliff" the market makers can dump any number of rumors upon us to create opportunities to remove your account from your pocket to theirs. Lord knows what they will do. To add to the mix the delta points that I follow are also at an inversion time when they can invert top to bottom. The Elliott Wave pattern can be making a large 2nd wave from the Sept 17 high with the "b" leg completing a 1.272 retrace of the "a" leg down. On an hourly chart you can see a fractal of the daily pattern into the low on Friday. Are we done to the downside?? Need to watch and wait for clues. I am looking for higher prices into January but am ready to take what they hand me. daily chart 2012-12-22_1235 - slick60's library I would like to wish everyone who reads this thread happy holidays and a very Merry Christmas. slick60

Market is going along pretty much as expected. One slight up phase did not come to pass but overall we are on track. At present I am looking at 2 levels in euro. As I type we are building sideways at the .618 retrace of the move down from the 1.3126 high that ended 5 waves up from the Nov 13 low. The .618 at 1.3031 to me is a resting point for the market and a level from which the market maker is accumulating short for the downside move to come. A retrace to the .786 as shown on the chart below makes a great level to reverse to a possible destination of 1.2825 hesitation zone below. At that level we would create a zig zag retrace of the 466 pip move up from Nov 13 wherein each down move would be 250 pips. I am looking for the high within the next 24 hours and a sharp move lower. Using delta cycles are a very good means for me to determine market direction. On each time frame there is an inversion period where the cycle points can invert and it is confusing quite often beginning a new cycle as shown on this chart. Anything can happen and does happen in the markets to throw a screw into the soothsayer and I do take it up the butt from time to time. Ouch! 4hr chart 2012-12-12_0631 - slick60's library Good luck and good trading people slick60

The market makers do not make it easy and they continually throw out a smoke screen. If everyone knew how to read their moves it would be easy and there would be no market. Once again I have to post an alternate view from my last post with the bigger picture still in tact. We may have completed a 5 wave move at the highs this morning and are making a "b" wave of a three wave correction. A reasonable target on the downside is the area of the Major Quarter 1.3000. To get our intermediate delta high due Friday which may drift over into Mon or Tues next week we will do an irregular correction of this current move down. Back to new highs. This move stopped at the mid point between large quarters and may retrace from the 1.3000 level to 1.3175-1.3227. I like the 1.3175 Hesitation zone. Then down to the 1.2875 midpoint below. 4 hr chart http://screencast.com/t/y58k2T2CasU slick60

This has been a very dragged out affair for the euro going north in a corrective mode in my opinion. We are nearing an end to a three wave count from the Nov 13 low. In the 4 hour snap below you will see colored boxes around price. Each box represents a 5 wave count from left to right. The red box is the center of the move. If I am correct we have one more wave to complete to the upside which I feel will come in at the area of the .786 shown at 1.3153 with the market makers opportunity tomorrow with the euro rate setting and press conference; OR Draghi speaking Friday morning and then the NFP.. As I type we are close to a final 4th wave correction before this last shot up. 1.3172 should hold in here now. Friday is also an intermediate term delta high 'due on average' day which could bring in the reversal to a 300 pip correction at this time very quickly in 4 to 5 days. 2012-12-05_0657 - slick60's library Watch for the high and reverse slick60

I have hesitated to show this chart marked up as it is here but it really is worth sharing I feel. I don't know if anyone here looks at the moon phases to try to get a handle on the moves of the market - I will let you be the judge as you view this chart. Please excuse the messy appearance of the chart - it is very clear to me. Couple things to understand here. When the moon is at "PERIGEE" it is closest to the Earth. When it is at "APOGEE" it is furthest away from the Earth in its' orbit. Note especially the dojis at the NEW MOON phase. Something else on this chart are a couple of red boxes during the last euro move from its' low on July 24 till now. That is the time the planet Mercury is in retrograde. Please Google these terms if you are interested-too much to write here. Also on this chart are the delta cycles when they are due. Now couple the delta up with the phases in the moon and something happens at those times. Nothing written in stone. Is there a high probability something will happen - to me YES without a doubt. At present we should correct here near term and then head higher. I am looking at the 1.3175 level at least on this present move. You can see to the right side of the chart where important delta points are due on average. There is so much more to the market and its' movement than we understand. Thanks to Dharmik who posted in this thread, but would not respond to me, for steering me once again to the astrological approach to trading. I hope this may help you folks in some way. 2012-11-27_0645 - slick60's library Good trading guys! slick60