approaching the monthly pivot at 1.5715 as I said 
- #9,581
- May 20, 2008 3:34pm May 20, 2008 3:34pm
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- #9,584
- May 20, 2008 3:59pm May 20, 2008 3:59pm
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
Don't chase the market, Let the market come to you
- #9,585
- May 20, 2008 4:13pm May 20, 2008 4:13pm
- Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
I think that eur/usd could test 1,5540 level.
http://www.forexfactory.com/showthread.php?t=87088
On Sunday I posted the chart below and since then we have seen yet more confirmation that the long term trend for the Euro looks as if it has recommenced.
- 1.56 has been well and truly broken
- New May high reached today
- Doji on weekly chart
- Weekly seeing higher lows and higher highs
- Daily seeing higher lows and higher highs
- Even negative ZEW sentiment today was only enough to cause a short blip down for the Euro before the lost ground was re-captured against the USD and a new May high was chalked on the board.
All this gives me more reason to believe that the longer term market sentiment is still bullish and trending up, as it has done for over two years.
I'm not smart enough to use the mass of fundamentals out there to forecast the future as I'm not an economist who has been successful in market forecasts. So my best bet is to let price show me the way.
Of course there will be retracements, but I won't fret and think the market has changed direction when they occur. That would be like thinking a tsunami has arrived every time a wave breaks on the beach. I shall be careful but relax and ride the waves when I catch them.
So far I am riding waves up since 1.54 using Jacko’s method including his AH strategy and I'm optimistic of a good journey from the recent dip in the long term upward trend.
Rob
- #9,588
- May 21, 2008 12:52am May 21, 2008 12:52am
- | Commercial User | Joined Nov 2007 | 1,079 Posts
In @ 1.54 using Jacko's method = Big profits. Are you still holding?
Now in a 1.55 long and up 170 with 85 locked in by a 100 TSL.
I don't know anyone on FF who has made anywhere near the money that Jacko has from trading so he's the guy to be emulating.
Rob
- #9,589
- May 21, 2008 1:10am May 21, 2008 1:10am
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- #9,590
- May 21, 2008 1:16am May 21, 2008 1:16am
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Expected the unexpected
- #9,592
- May 21, 2008 1:31am May 21, 2008 1:31am
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- #9,594
- May 21, 2008 1:59am May 21, 2008 1:59am
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- #9,597
- May 21, 2008 2:47am May 21, 2008 2:47am
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- #9,599
- May 21, 2008 2:53am May 21, 2008 2:53am
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less thand 15 min until IFO from Germany, we'll see where this will go.
- #9,600
- May 21, 2008 3:01am May 21, 2008 3:01am
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