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Drawing correct resistance and support-lines

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  • #421
  • Mar 7, 2008 8:49am Mar 7, 2008 8:49am
Quoting yuna
No, i avoided. it's strange, UJ is rising.. anyone care to explain??

Attachment

Yuna
101.50-102 is MONTHLY support
Trade what you see, not what you think.
  • #422
  • Mar 7, 2008 9:02am Mar 7, 2008 9:02am
Quoting karmostaji
101.50-102 is MONTHLY support
Thanks! Seems like NFP doesn't have enough power to break it. Anyway looks like ur "Bear Trap" on GJ is right!

Attached Image (click to enlarge)
Click to Enlarge Name: 1.9950.gif Size: 23 KB


Yuna
  • #423
  • Mar 7, 2008 9:07am Mar 7, 2008 9:07am
Quoting yuna
Thanks! Seems like NFP doesn't have enough power to break it. Anyway looks like ur "Bear Trap" on GJ is right!

Attachment

Yuna
If GJ can't break 207.30, which is 38.2 fib on 4h chart and of course previous high , I doubt we will see 208.48 today. Let's see what happen next
Measure twice, cut once
  • #424
  • Mar 7, 2008 9:20am Mar 7, 2008 9:20am
Quoting aediaz1
If GJ can't break 207.30, which is 38.2 fib on 4h chart and of course previous high , I doubt we will see 208.48 today. Let's see what happen next
Yea, let's wait and see. today there's a lot of fakeout on the news. EU,UJ,GJ, and Gold also.
  • #425
  • Mar 7, 2008 9:38am Mar 7, 2008 9:38am
Quoting yuna
Yea, let's wait and see. today there's a lot of fakeout on the news. EU,UJ,GJ, and Gold also.
aediaz1,GJ broke ur 4hr fibo 38.2 at 207.30 which is also Daily R1 already
  • #426
  • Mar 7, 2008 9:41am Mar 7, 2008 9:41am
Quoting yuna
aediaz1,GJ broke ur 4hr fibo 38.2 at 207.30 which is also Daily R1 already
it has also formed a new high currently since wednesday(previous high)
  • #427
  • Mar 7, 2008 9:44am Mar 7, 2008 9:44am
Quoting yuna
aediaz1,GJ broke ur 4hr fibo 38.2 at 207.30 which is also Daily R1 already

About time if you ask me !


50% fibo correlate with 1h trendline. Let's see how price reacts to that lvl.
Attached Image (click to enlarge)
Click to Enlarge Name: 1hgj.gif Size: 16 KB
Measure twice, cut once
  • #428
  • Mar 7, 2008 9:53am Mar 7, 2008 9:53am
Quoting aediaz1
About time if you ask me !


50% fibo correlate with 1h trendline. Let's see how price reacts to that lvl.


Btw u mean fib 50 208.45 correlate with ur 2nd uptrendline?
  • #429
  • Mar 7, 2008 9:58am Mar 7, 2008 9:58am
Quoting aediaz1
About time if you ask me !


50% fibo correlate with 1h trendline. Let's see how price reacts to that lvl.
Quote
POSSIBLE pull-back lvl ; 208.47 area looking at 1h chart. Hm.. 208.47 sounds familiar Karmo can you help me out ?

AH! i understand now.
  • #430
  • Mar 7, 2008 2:52pm Mar 7, 2008 2:52pm
Looks how fibonacci works perfectÍ bought at1.9884.I think that i bought very later but i made profite at least.Next target at 2.0232.
Attached Image (click to enlarge)
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Sorry about my english...
  • #431
  • Mar 7, 2008 11:50pm Mar 7, 2008 11:50pm
Quoting CIORIMAU--
Looks how fibonacci works perfectÍ bought at1.9884.I think that i bought very later but i made profite at least.Next target at 2.0232.
Hello CIORIMAU, a nice run u had on cable there! but be aware that trading solely on fibo is risky, it's better to combine with trendlines and SR lines.

Yuna
  • #432
  • Mar 9, 2008 6:35am Mar 9, 2008 6:35am
It's One Of My Favourate Thread As related to my style of trading... I'll Glad to post my Analysis also...
  • #433
  • Mar 9, 2008 8:36am Mar 9, 2008 8:36am
Quoting Umairs2004
It's One Of My Favourate Thread As related to my style of trading... I'll Glad to post my Analysis also...
Glad to hear Umairs, and we would love your analyzes in here !
Measure twice, cut once
  • #434
  • Mar 9, 2008 4:05pm Mar 9, 2008 4:05pm
Hi fellow traders, its been sometime since I last posted.

Overall I am seeing more weakening of the US dollar, favoring CHF YUAN YEN at the moment from a longer term perspective. Probably more US FED rate cuts to come too. Oil prices dont seem to be slowing down either.

A recap on EU and UJ weekly chart below.

As for EUR/JPY they are caught between a strengthing Yen and even stronger Euro, it would be interesting to see how things develope for this pair, overall I am bullish.

Attached Image (click to enlarge)
Click to Enlarge Name: wkly eu.JPG Size: 84 KB


Attached Image (click to enlarge)
Click to Enlarge Name: wkly uj.JPG Size: 89 KB


Attached Image (click to enlarge)
Click to Enlarge Name: wkly ej.JPG Size: 83 KB


All the best for this week, I will be hanging around to learn and share any insights you wonderful people so generously provided. Till then...


Regards

mARK
  • #435
  • Mar 9, 2008 4:46pm Mar 9, 2008 4:46pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting aiyahmarklah
testing signature
Means what - if you don't mind sharing the details?
  • #436
  • Mar 9, 2008 5:29pm Mar 9, 2008 5:29pm
Quoting MPP
Means what - if you don't mind sharing the details?

My apologies it meant nothing, needed try the signature thing at the end of every posting.
  • #437
  • Mar 9, 2008 6:44pm Mar 9, 2008 6:44pm
Good Sunday!

Gbp/jpy short-term: As long as support-line hold on 1h and price is channeling upward I'm still bullish. If lower TL fails, a drop down to 205 area (previous low) and after that 203.50 area, IMO. But, as stated, I'm still expecting upward movement targeting 208.47 (50 fibo) and 209 (trendline) as possible resistances.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4h.jpg Size: 84 KB
Measure twice, cut once
  • #438
  • Mar 9, 2008 6:56pm Mar 9, 2008 6:56pm
Cable; Ascending triangle on 30m, so a establish above .0200 is the setup I'm looking for. We have been in a bullish trend for last (soon) 2 weeks, looking at daily chart, so I don't see why this should end today. That's why I'm looking for long setups.
Attached Image (click to enlarge)
Click to Enlarge Name: 30mcable.jpg Size: 74 KB
Measure twice, cut once
  • #439
  • Mar 9, 2008 8:12pm Mar 9, 2008 8:12pm
Quoting yuna
Hello CIORIMAU, a nice run u had on cable there! but be aware that trading solely on fibo is risky, it's better to combine with trendlines and SR lines.

Yuna
why you think this???i think that you could trade only using fibos.
Sorry about my english...
  • #440
  • Mar 10, 2008 2:42am Mar 10, 2008 2:42am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting aiyahmarklah
My apologies it meant nothing, needed try the signature thing at the end of every posting.
No apology needed, i just find such symbols interesting, so was making an inquirey about it's meaning, you know the stuff - peace love, family name etc.

best of pips

MPP
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