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16 Jan 2011 18:56:12 -0000 Sender: Divergence@yahoogroups.com MIME-Version: 1.0 Mailing-List: list Divergence@yahoogroups.com; contact Divergence-owner@yahoogroups.com Delivered-To: mailing list Divergence@yahoogroups.com List-Id: Precedence: bulk List-Unsubscribe: Date: Sun, 16 Jan 2011 13:06:43 -0500 Subject: [Divergence] 1/16/11, Report of trade condition of select pairs [2 Attachments] Reply-To: Divergence@yahoogroups.com X-Yahoo-Newman-Property: groups-email-ff-m Content-Type: multipart/alternative; boundary="----=_NextPart_001_0002_01CBB57E.39AE6BB0" X-Antivirus: AVG for E-mail 10.0.1191 [1435/3384] X-AVG-ID: ID167C4303-173970F6 ------=_NextPart_001_0002_01CBB57E.39AE6BB0 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: 7bit EUR/GBP; monthly in a long term up cycle presently, all shorts are higher risk. Price currently tracing Wave 5 higher. 12/08, was the high of Wave 3; 6/10, was the low of corrective Wave 4; monthly bullish Gartley price pattern appears at the low of Wave 4; 10/10 was Wave 1 high; 1/11, low was the probable low of corrective wave 2 which was a Fib 85.4 Retracement from Wave 1 high; 4 hour; MACD cross down for a retrace of the most recent up cycle. Retrace between 38.2 to 85.4; When MACD cross traces up arrow/green signals a long condition consistent with longer up cycle EUR/USD; MONTHLY, in a longer term up cycle; price currently tracing Wave 5 higher 4/08, was Wave 3 high; 6/10, low was the low of Wave 4 after which new Wave 1 of longer term Wave 5 commenced 10/10, was high of new wave 1; 1/11, low was the probable low of corrective wave 2; 4 hour; 1/10/11 green MACD cross arrow up signal the beginning of Wave 3; 1/14/11 red MACD cross signal down introduces retracement of the prior up cycle which will retrace to some Fibonacci level after which a MACD cross green arrow will re-introduce a long condition consistent with the longer term Wave 5 up cycle. RSI traces a complex "M" fully above the overbought 70 line suggesting exhaustion in the 4 hour and thus lower price. 1 hour; RSI traces a complex "M" fully above the grossly overbought 80 line and traces multiple CNDs Comments; It is essential to determine longer term where price is located within the EW cycle. Once that determination is correctly made it behooves the analyst to trade in the direction of the longer term trend. In the above examples price is tracing Wave 5 higher. Using smaller time frames and retracements which will be seen in those periods a correct long entry is identified. Attached 4 and 1 hour charts, EUR/USD identify exhaustion "M" and "W" RSI patterns either above or below 70/80 or 30 RSI lines. Loren ------=_NextPart_001_0002_01CBB57E.39AE6BB0 Content-Type: text/html; charset=US-ASCII Content-Transfer-Encoding: 7bit  
[Attachment(s) from Loren Morlan included below]

EUR/GBP; monthly in a long term up cycle presently, all shorts are higher risk.  Price currently tracing Wave 5 higher.

 

12/08, was the high of Wave 3;

6/10,  was the low of corrective Wave 4; monthly bullish Gartley price pattern appears at the low of Wave 4;  

10/10 was Wave 1 high;

1/11,  low was the probable low of corrective wave 2 which was a Fib 85.4 Retracement from Wave 1 high;

4 hour;

MACD cross down for a retrace of the most recent up cycle.  Retrace between 38.2 to 85.4;

When MACD cross traces up arrow/green signals a long condition consistent with longer up cycle

 

EUR/USD; MONTHLY, in a longer term up cycle; price currently tracing Wave 5 higher

4/08, was Wave 3 high;

6/10,  low was the low of Wave 4 after which new Wave 1 of longer term Wave 5 commenced

10/10, was high of new wave 1;

1/11, low was the probable low of corrective wave 2;

4 hour;

1/10/11 green MACD cross arrow up signal the beginning of Wave 3;

1/14/11 red MACD cross signal down introduces retracement of the prior up cycle which will retrace to some  Fibonacci level after which a MACD cross green arrow will re-introduce a long condition consistent with the longer term Wave 5 up cycle.

RSI traces a complex “M” fully above the overbought 70 line suggesting exhaustion in the 4 hour and thus lower price.

1 hour;

RSI traces a complex “M” fully above the grossly overbought 80 line and traces multiple CNDs

 

Comments;

It is essential to determine longer term where price is located within the EW cycle.  Once that determination is correctly made it behooves the analyst to trade in the direction of the longer term trend.  In the above examples price is tracing Wave 5 higher.  Using smaller time frames and retracements which will be seen in those periods a correct long entry is  identified.

 Attached 4 and 1 hour charts, EUR/USD identify exhaustion “M” and “W” RSI patterns either above or below 70/80 or 30 RSI lines.

 

Loren

 

 

 

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Attachment(s) from Loren Morlan

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