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EURUSD

  • #2,321
  • Aug 14, 2007 8:49am Aug 14, 2007 8:49am
went long on Eur/usd 1.3595. I'm thinking it'll revisit 1.3650 before heading lower.
  • #2,322
  • Aug 14, 2007 8:54am Aug 14, 2007 8:54am
Quoting monikroc
I am with you on that I also use felicias method along with bagovino,and the guppy,south it is!!!!!!!!1
HI Monikroc--try using Fibonnacci numbers with cornflower (8 13 21 55 89). You will be impressed. The further extension fibs 144 233 377 are also useful.
  • #2,323
  • Aug 14, 2007 1:07pm Aug 14, 2007 1:07pm
Quoting dramapips
I would look if 1.3560-1.3570 holds as support, if it holds I am loading up my longs. I still believe the major uptrend is intact as long as 1.3560 holds and what we are seeing is just a retracement. From fundamentals nothing really changed to cause a change in the trend.

But what do I know? Everything is possible.
Wow EUR/USD just sliced right through the support zone. Currently trading at 1.3540, lets see if it holds up, and if the downtrend will continue. next support levels I believe is:

15 min chart: 1.3525
1 hour chart: 1.3525
4 hour chart: 1.3520
Daily chart: 1.3335
"Don't work for your money, but let money work for you."
  • #2,324
  • Aug 14, 2007 1:24pm Aug 14, 2007 1:24pm
Quoting chady250
Wow EUR/USD just sliced right through the support zone. Currently trading at 1.3540, lets see if it holds up, and if the downtrend will continue. next support levels I believe is:

15 min chart: 1.3525
1 hour chart: 1.3525
4 hour chart: 1.3520
Daily chart: 1.3335

I closed my long at 1.3560. Now i do not know what to do. I will wait and see. I am not sure in general uptrend anymore.
  • #2,325
  • Aug 14, 2007 1:38pm Aug 14, 2007 1:38pm
OK, here's what I just did.

From the low on June 16 at 1.3263 to the high on July 24 at 1.3852, the 50% point is at 1.3558. I liked two other things about this 50% point: 1) It was resistance on June 5-6. 2) It's near a round number of 1.3550.

So I just got filled on a small buy order at 1.3550. I have another buy order above for an anti-hedging entry (where I was last stopped out from my previous 1.3650 entry) at 1.3613.
You are in a maze of twisty little passages, all alike.
  • #2,326
  • Aug 14, 2007 1:49pm Aug 14, 2007 1:49pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting dramapips
I closed my long at 1.3560. Now i do not know what to do. I will wait and see. I am not sure in general uptrend anymore.
Daily weekly and monthy trend is still up, we need to see a break of 1.3350 to break the channel bottom.

IMHO i think this is still a reset and will be looking for a bottom of 1.33ish from where i will be going long at 1.3400 and so on.

just my 2 pips worth

regards

MPP
  • #2,327
  • Aug 14, 2007 1:59pm Aug 14, 2007 1:59pm
Quoting MPP
Daily weekly and monthy trend is still up, we need to see a break of 1.3350 to break the channel bottom.

IMHO i think this is still a reset and will be looking for a bottom of 1.33ish from where i will be going long at 1.3400 and so on.

just my 2 pips worth

regards

MPP
How did you calculate that it should go 1.33xx?
  • #2,328
  • Aug 14, 2007 2:04pm Aug 14, 2007 2:04pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 21 KB


the trend lines look better placed on the 1H but somewhere in the 1.33 is my target, basically past 1.34 by 50pips would be good and then pick up the longs an the way back. also gives it a chance to decide if it will go lower at which point a deeper reset would still be ok for the wk and monthly uptrend

hope this helps. still learning so could be wrong.

we wait and see

regards

MPP
  • #2,329
  • Aug 14, 2007 2:11pm Aug 14, 2007 2:11pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
should have added, wk and Monthly can handle a drop to 1.31ish, that would be even better, as the next top is around 1000pips above.
  • #2,330
  • Aug 14, 2007 2:13pm Aug 14, 2007 2:13pm
It really depends on your time horizon, but mine is relatively short. I tend to look at 240min charts. So this is more intermediate term.
  • #2,331
  • Aug 14, 2007 2:58pm Aug 14, 2007 2:58pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting ygvbnm
It really depends on your time horizon, but mine is relatively short. I tend to look at 240min charts. So this is more intermediate term.
I'm not very good with time shorter than 4H, been hit hard on the lower time frames. thought i would work on my high times, set some longer trades and then learn to trade the smaller time frames as I miss out on so many pips.
  • #2,332
  • Edited 3:25pm Aug 14, 2007 2:58pm | Edited 3:25pm
  •  tazmet
  • | Joined Jun 2007 | Status: Gold Member - Solid Gold Baby! | 47 Posts
Looks like I went against the grain here. My reading of the charts led me south. I played the breakout of the range and have been short since 3585. Holding my short currently at 50 pips. Will hold til about 3500 but think this could fall to the 3480s.
My business model Get pips => Keep Pips => Repeat
  • #2,333
  • Aug 14, 2007 3:09pm Aug 14, 2007 3:09pm
I'm short from .3625 Tazmet. daily ichimoku showed bearish signs the past couple of days.
  • #2,334
  • Aug 14, 2007 3:19pm Aug 14, 2007 3:19pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting tazmet
Looks like I went against the grain here. My reading of the charts led me south. I played the breakout of the range and have been short since 3585. Holding my short currently at 50 pips. Will hold til about 3500 but think this could fall to the 3480s.

Mod - go ahead and delete if not in line w/ Jacko's method.
you should post this on Jacko's thread, definatly goes against the grain.

happy trading
  • #2,335
  • Aug 14, 2007 3:26pm Aug 14, 2007 3:26pm
I moved here, because it is a EU discussion as is this thread..

Thanks

He has a slightly different take on the price action, nothing wrong with that.
  • #2,336
  • Aug 14, 2007 3:44pm Aug 14, 2007 3:44pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting smjones
I moved here, because it is a EU discussion as is this thread..

Thanks

He has a slightly different take on the price action, nothing wrong with that.
Hi smjones
it's seems you have more post to your name than most of us put together, i would appreciate you views on EU. I have posted what i am expecting, am I a long way of?

kind regards

MPP
  • #2,337
  • Aug 14, 2007 3:55pm Aug 14, 2007 3:55pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting smjones
I moved here, because it is a EU discussion as is this thread..

Thanks

He has a slightly different take on the price action, nothing wrong with that.
Ok penny dropped, I now see that it was moved from Jacko's thread.

my appoligies for not seeing that quicker

regards

MPP
  • #2,338
  • Aug 14, 2007 4:31pm Aug 14, 2007 4:31pm
Considering how crappy the US economy is, how low can this crazy price drop to ??? http://www.forexfactory.com/images/icons/icon8.gif
  • #2,339
  • Aug 14, 2007 5:02pm Aug 14, 2007 5:02pm
Fundamental forecasts held true for Euro and US markets today,
triggering the continued downtrend.

However, if tomorrow's forecasts for the GBP and US dollar
hold, it could be that we shall see a reversal. GBP forecasts
are positive. Since the Euro has been faithfully following the
pound in recent days, it could be that we shall also see
a Euro reversal. This is especially true if the negative
dollar forecasts become a reality.

Hold tight!
  • #2,340
  • Aug 14, 2007 5:27pm Aug 14, 2007 5:27pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting winterwhite
Fundamental forecasts held true for Euro and US markets today,
triggering the continued downtrend.

However, if tomorrow's forecasts for the GBP and US dollar
hold, it could be that we shall see a reversal. GBP forecasts
are positive. Since the Euro has been faithfully following the
pound in recent days, it could be that we shall also see
a Euro reversal. This is especially true if the negative
dollar forecasts become a reality.

Hold tight!
Don't you mean load up the long's after all, this is jacko's thread and it's about trading with the trend. Long EU
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