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Measure twice, cut once
Drawing correct resistance and support-lines
- #701
- Mar 17, 2008 9:53am Mar 17, 2008 9:53am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #702
- Mar 17, 2008 9:54am Mar 17, 2008 9:54am
- | Joined Oct 2007 | Status: Technical Trader | 765 Posts
Hmm no, my apologies as I am looking at EU and CHF today....EJ is one of my favourite plays though but today EJ is taking a back seat
I was Just observing the market as I did already Lock +30 Pip's today...
- #703
- Mar 17, 2008 10:06am Mar 17, 2008 10:06am
- Joined Jan 2008 | Status: Trader | 1,043 Posts
Great trade aiyahmarklah. Looking for price to establish above .5814 or hit down to .5645 area to go long.
With reference to your chart I am looking to buy early if it crosses .5800, then wait two bars to see how it developes, if it fails to close above .5814 then hopefully can get out with minimal damage or break even. If it closes above, I let it run or +50 pips whichever comes first.
Heres the view from 15m.
- #704
- Mar 17, 2008 10:15am Mar 17, 2008 10:15am
- Joined Jan 2008 | Status: Trader | 1,043 Posts
aediaz1,
Did those Fib levels of yours fall in the same place as the previous day high as my analysis ? If it does....LOL
Did those Fib levels of yours fall in the same place as the previous day high as my analysis ? If it does....LOL
- #705
- Mar 17, 2008 10:28am Mar 17, 2008 10:28am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
LOL u can call me Mark, lesser to type.
With reference to your chart I am looking to buy early if it crosses .5800, then wait two bars to see how it developes, if it fails to close above .5814 then hopefully can get out with minimal damage or break even. If it closes above, I let it run or +50 pips whichever comes first.
Heres the view from 15m.
Attachment
Hm thats like take a breakout-trade before it happens ? Unless I misunderstood something.About those fibs, I just draw them from previous bull run, which also happen to be previous day low/high
: Didn't notice before you said it !
Measure twice, cut once
- #706
- Mar 17, 2008 10:39am Mar 17, 2008 10:39am
- Joined Jan 2008 | Status: Trader | 1,043 Posts
Ok you're Mark from now on
About those fibs, I just draw them from previous bull run, which also happen to be previous day low/high
THANKS ! Well breakout trade yes, the reason I dare enter early is that it is a round number, even if the BO fails, it should not have any problem staying around that area of .5800 for me to escape. Risky ? Somewhat....I will risk the pips made earlier on
- #708
- Edited 3:19pm Mar 17, 2008 2:51pm | Edited 3:19pm
- Joined Jan 2008 | Status: Trader | 1,043 Posts
Pairs traded within slightly extended range.
- #709
- Mar 18, 2008 2:59am Mar 18, 2008 2:59am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #711
- Edited 4:26am Mar 18, 2008 4:06am | Edited 4:26am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Probably price action will discount the news unless the cut is too far away from consensus. I think what Bernake has to say will impact the market more. Well all we can do now is wait. Do you think the FED rate will mute the upcoming UK data announcements ?
Well, over to something I can better than playing wise
:Euro seems very strong these day, I think we can see eurusd @ 1.7 sooner than expected, here's eur/cad;
Measure twice, cut once
- #712
- Mar 18, 2008 5:24am Mar 18, 2008 5:24am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #713
- Mar 18, 2008 6:46am Mar 18, 2008 6:46am
- Joined Jan 2008 | Status: Trader | 1,043 Posts
I think the dollar will plump no matter what he says. How could investors risk having their funds in dollar anymore? Even a small fish like me have removed my tiny fx amount away from dollar. Big investors know whats happening and I don't believe feds can convince them; "no worries, this mess is over". Far from it. I'm no expert in this field, this is pure logical assumptions obtained from reading with a critical point of view over the past.
Well, over to something I can better than playing wise
Euro seems very strong these day, I think we can see eurusd @ 1.7 sooner than expected, here's eur/cad;
How are u aediaz1 ? Doing well this week ?
- #714
- Mar 18, 2008 7:22am Mar 18, 2008 7:22am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #716
- Mar 18, 2008 8:02am Mar 18, 2008 8:02am
- Joined Jan 2008 | Status: Trader | 1,043 Posts
Bullish wedge, evidently if this breaks out, it will cross the asia high as well. Double confirmation.
- #717
- Mar 18, 2008 9:40am Mar 18, 2008 9:40am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #718
- Mar 18, 2008 10:11am Mar 18, 2008 10:11am
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
hye guys.. after rallying since morning for long in GU, we might expecting a short position later on..
lets see this chart, tf1hour and tf4hour, do comment this as well.. cheers!
TF 1Hour
TF 4Hour
lets see this chart, tf1hour and tf4hour, do comment this as well.. cheers!
TF 1Hour
TF 4Hour
- #719
- Mar 18, 2008 10:32am Mar 18, 2008 10:32am
- Joined Jan 2008 | Status: Trader | 1,043 Posts
I do agree with you, my reason is that GU failed to break previous day high, thus a down side might be probable since it has already formed a range of about 200 pips, so even any break of yesterday range is rather limited as this pair is kinda strecthed already. Unless FED do something drastic I guess.
All the best
U from KL ?
Caveat Emptor
All the best
U from KL ?
Caveat Emptor
- #720
- Mar 18, 2008 11:28am Mar 18, 2008 11:28am
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
All the best
U from KL ?
bdw, it might be later trow before we can see something happened whether its still in the uptrend position or capable to go further downside..