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EURUSD

  • #2,541
  • Aug 31, 2007 1:14pm Aug 31, 2007 1:14pm
Did you all have fun this week just like the week before? Well, the battle is still on I believe. Another fun week coming. Short or Long? Any comments? Anyways, happy Labor Day to all of you who live in the US.
  • #2,542
  • Sep 1, 2007 1:21am Sep 1, 2007 1:21am
clearly shows that the market is still trading and no major trends are building..the thing is at some point a major trend will develop and we need to ride it..
  • #2,543
  • Sep 1, 2007 10:55am Sep 1, 2007 10:55am
May experience a move up from here to the .61fib from daily Pin bar. 1,3700 level has proven as strong resistance. I will be looking for a short entry this week with s/l above 1,3720.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.JPG Size: 95 KB
  • #2,544
  • Sep 1, 2007 5:44pm Sep 1, 2007 5:44pm
Quoting MackS10
May experience a move up from here to the .61fib from daily Pin bar. 1,3700 level has proven as strong resistance. I will be looking for a short entry this week with s/l above 1,3720.
That is definitly a good idea. I too will also do the same however I think 1.3700 with a SL of 1.37500 should be good, PT will be 1.3575. What do you guys think about this trade???
"Don't work for your money, but let money work for you."
  • #2,545
  • Sep 2, 2007 1:55am Sep 2, 2007 1:55am
EURUSD is topping at 1.3719, key support is now at 1.3560, a break below this level will confirm the cycle top and pullback below 1.3360 is expected to follow. Near term resistance is at 1.3719, only break above this level will delay the resumption of the down trend. For long term analysis, EURUSD is in sideways consolidation to the long term up trend and will move without trend in a range between 1.3262 and 1.3851. Up trend will resume after consolidation and rise towards 1.4500 to reach the next cycle top on weekly chart is still possible.
If I Go Broke Trying Then I Will die happy.
  • #2,546
  • Edited 2:20pm Sep 2, 2007 2:07pm | Edited 2:20pm
Quoting chady250
That is definitly a good idea. I too will also do the same however I think 1.3700 with a SL of 1.37500 should be good, PT will be 1.3575. What do you guys think about this trade???
I never trade against the main trend (too hazardous), and the main trend, at the moment, is still pointing north.

I think EU could fall briefly to 1,3500 (max) due to the end of D1 timeframe small cycle (20 days=1 month) but then it will resume its uptrend toward 1,40 and... beyond.

If it will fall under 1,3450 then I'll start to consider a main trend change.

Furthermore I think friday's brief break of 1,3680 level was only the first "warning" for a following big-long-term-break of that level.

Please take the above informations from a swing/long term trader point of view, like I am.
  • #2,547
  • Sep 2, 2007 2:41pm Sep 2, 2007 2:41pm
Quoting owkenobi
I never trade against the main trend (too hazardous), and the main trend, at the moment, is still pointing north.

I think EU could fall briefly to 1,3500 (max) due to the end of D1 timeframe small cycle (20 days=1 month) but then it will resume its uptrend toward 1,40 and... beyond.

If it will fall under 1,3450 then I'll start to consider a main trend change.

Furthermore I think friday's brief break of 1,3680 level was only the first "warning" for a following big-long-term-break of that level.

Please take the above informations from a swing/long term trader point of view, like I am.
Hmm is it just me, or is their a dragonfly doji occuring on the daily charts???
"Don't work for your money, but let money work for you."
  • #2,548
  • Sep 2, 2007 5:15pm Sep 2, 2007 5:15pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting chady250
Hmm is it just me, or is their a dragonfly doji occuring on the daily charts???
it might be you, but i have no clue. could you please enlighten me.

whats a Dragonfly look like?
  • #2,549
  • Sep 2, 2007 5:32pm Sep 2, 2007 5:32pm
Quoting MPP
it might be you, but i have no clue. could you please enlighten me.

whats a Dragonfly look like?
lol, well according to this book Technical Analysis for Dummies, a dragonfly doji occurs when the their is an attempt to make higher highs, however due to a large number of sellers it closes near the open. This type of doji may also be calles a Shooting Star.
"Don't work for your money, but let money work for you."
  • #2,550
  • Sep 2, 2007 5:34pm Sep 2, 2007 5:34pm
Quoting chady250
Hmm is it just me, or is their a dragonfly doji occuring on the daily charts???
No I do not see any doji on my EU D1 chart .

http://www.babypips.com/school/images/doji-examples.gif


Image taken from here:

http://www.babypips.com/school/basic_patterns.html
  • #2,551
  • Sep 2, 2007 5:43pm Sep 2, 2007 5:43pm
Quoting owkenobi
No I do not see any doji on my EU D1 chart .

http://www.babypips.com/school/images/doji-examples.gif


Image taken from here:

http://www.babypips.com/school/basic_patterns.html
lol oops gravestone doji, i am sorry about that.
"Don't work for your money, but let money work for you."
  • #2,552
  • Sep 3, 2007 3:13am Sep 3, 2007 3:13am
i am long with target 1.3669 for intra-day
Twitter: @forexpokerpro
  • #2,553
  • Sep 3, 2007 3:21am Sep 3, 2007 3:21am
anyone planned shorts?

im short since 631...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 55 KB
  • #2,554
  • Sep 3, 2007 3:48am Sep 3, 2007 3:48am
Pretty similar setup on EURUSD and GBPUSD, a flat top triangle. Question is: will 1.3700 be broken to the upside or will the uptrend be breached? Best to wait until either one of those scenarios confirm before taking a position.
Attached Image
  • #2,555
  • Sep 3, 2007 4:01am Sep 3, 2007 4:01am
Quoting jest1081
anyone planned shorts?

im short since 631...
me 2
T1 1.3540
If you count on hope in any trade ……. Get out of it
  • #2,556
  • Sep 3, 2007 8:46am Sep 3, 2007 8:46am
made a mistake earlier on.

short @ 1.3628 target 1.3600 for now, but i don't think it will be reached today
Twitter: @forexpokerpro
  • #2,557
  • Sep 3, 2007 10:13am Sep 3, 2007 10:13am
Quoting jest1081
anyone planned shorts?

im short since 631...
I am waiting for a retracement of the pin bar to short from 1.3660-1.3670.
  • #2,558
  • Sep 3, 2007 11:03am Sep 3, 2007 11:03am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
I'm back to work now so here's my 2pips worth.

The bearish drop from 1.3830 to 1.3358 mid August had occured at the right time only it dropped way to fast, since then we have seen a rise to a point were a more expected short TL could be seen, the pair is now ranging until it hits this TL once more when a drop to around the 1.3550 - 1.3525 should be seen. this will correct the rappid fall and set us on our way long from there.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 21 KB


sorry about the image couldn't get it to move over. but hope you get my point.

this is only my opinion and have not been trading that long, currently i wait for better signals to trade from.
  • #2,559
  • Sep 3, 2007 12:06pm Sep 3, 2007 12:06pm
My short trade has not been triggered yet. Rather play safe than sorry. The trigger would be 1.3586 (10 pips below 50% fib of the downtrend from Aug 5~Aug 16 or the H4 EMA 365 on my chart, GMT time). Target would be 1.3550 (10 pips above the the uptrend from Aug. 16 to Aug. 31). 36 pips is good enough for me. Initial S/L would be 25 pips that is 1.3615.
  • #2,560
  • Sep 3, 2007 7:50pm Sep 3, 2007 7:50pm
I wonder if EUR/USD will break to the 1.3650 or will it sink below 1.3600. It seems like right now 1.3630 will be considered as minor resistance.
"Don't work for your money, but let money work for you."
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