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  • #1
  • First Post: Oct 13, 2007 5:37pm Oct 13, 2007 5:37pm
any thoughts on this graph.. looks like def a double top with a good correction pending of 200-300 pips..
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  • #2
  • Oct 13, 2007 5:50pm Oct 13, 2007 5:50pm
Based on my analysis of my weekly charts, I would think that we've just seen the retracement to the 38.2 level from the last bull move up. With this, I think we could very possibly see a continuation of the uptrend that has been prevalent. What are your thoughts?
I dream, therefore I become.
  • #3
  • Oct 13, 2007 6:53pm Oct 13, 2007 6:53pm
Quoting mike w
Based on my analysis of my weekly charts, I would think that we've just seen the retracement to the 38.2 level from the last bull move up. With this, I think we could very possibly see a continuation of the uptrend that has been prevalent. What are your thoughts?
I like my fibs better... and maybe EUR still needs to come down a bit... and using Rob Bookers Indicators ( Funny guy, no sleep ) on daily, also suggest downward if price comes out of overbought...
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  • #4
  • Oct 13, 2007 7:26pm Oct 13, 2007 7:26pm
Quoting Tiki Trader
I like my fibs better... and maybe EUR still needs to come down a bit... and using Rob Bookers Indicators ( Funny guy, no sleep ) on daily, also suggest downward if price comes out of overbought...
Excellent! Thanks Tiki, battle of the fibs! jk. This is true that perhaps it has some more room to come down, but I doubt very much before a continuation upwards. What are the indicators that Booker made? I'm asking so as to create a little better knowledge of why this could look like its coming down more. Thanks again.
I dream, therefore I become.
  • #5
  • Oct 13, 2007 7:31pm Oct 13, 2007 7:31pm
Yeah, we definitely plotted our fibs differently...Im looking over them now. I think I jsut plotted mine forthe shorter term, whereas you put yours based on the entire move upwards, on the daily chart. Both could be right in this case, once you think about it.
I dream, therefore I become.
  • #6
  • Oct 14, 2007 5:50pm Oct 14, 2007 5:50pm
Daily Chart
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  • #7
  • Oct 14, 2007 5:58pm Oct 14, 2007 5:58pm
Quoting Tiki Trader
Daily Chart
Hey tiki, thats a great chart. The only difference with mine is thaqt I made the trendline with a shorter amount of time on it. I started mine on the low of August the 15th and dragged it to the low of September the 3rd. Im still trying to get my chart to save, so until then this is what I got...sorry about that.
I dream, therefore I become.
  • #8
  • Oct 14, 2007 6:02pm Oct 14, 2007 6:02pm
The way that I made mine will set the trendline right around the 1.4000 area.
I dream, therefore I become.
  • #9
  • Oct 14, 2007 6:40pm Oct 14, 2007 6:40pm
I expect a retracement all the way back to 1.3860
The greatest risk in life, is not taking one!
  • #10
  • Last Post: Oct 14, 2007 6:45pm Oct 14, 2007 6:45pm
I hope so !!! I see why you pick that point... and also where my target is around the 62 daily ema

Quoting attrium
I expect a retracement all the way back to 1.3860
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