This thing is falling like a rock right now 
- #10,005
- May 27, 2008 1:31am May 27, 2008 1:31am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Why don't I stick my neck out and try an extrapolation.
Pulling my 1h chart out so we can see the recent all-time high, 'Buy' on my fib is the 0 level on the un-modified fib that comes with MT4, 'Sell' is the 100, drawing from bottom to top.
'Target 1' is the +.382, 'Target 2' is +.628 on the standard fib. A clean break through the Buy could see the price heading back towards its all-time high again, just past Target 1. After that, a break through Target 1 would set some records.
Hehe. As I was writing that this, the price has dropped about 40 pips. Any bets on the price ranging for a few days instead of breaking out?
Pulling my 1h chart out so we can see the recent all-time high, 'Buy' on my fib is the 0 level on the un-modified fib that comes with MT4, 'Sell' is the 100, drawing from bottom to top.
'Target 1' is the +.382, 'Target 2' is +.628 on the standard fib. A clean break through the Buy could see the price heading back towards its all-time high again, just past Target 1. After that, a break through Target 1 would set some records.
Hehe. As I was writing that this, the price has dropped about 40 pips. Any bets on the price ranging for a few days instead of breaking out?
- #10,007
- May 27, 2008 1:35am May 27, 2008 1:35am
Why don't I stick my neck out and try an extrapolation.
Pulling my 1h chart out so we can see the recent all-time high, 'Buy' on my fib is the 0 level on the un-modified fib that comes with MT4, 'Sell' is the 100, drawing from bottom to top.
'Target 1' is the +.382, 'Target 2' is +.628 on the standard fib. A clean break through the Buy could see the price heading back towards its all-time high again, just past Target 1. After that, a break through Target 1 would set some records.
Hehe. As I was writing that this, the price has dropped about 40 pips. Any bets on the price ranging for a few days instead of breaking out?
- #10,011
- May 27, 2008 1:46am May 27, 2008 1:46am
welcome 1.5350 then 1.5
- #10,012
- May 27, 2008 1:47am May 27, 2008 1:47am
- Joined Jan 2008 | Status: Only God Can Judge Me | 2,467 Posts
bearish harmonic pattern
- #10,018
- May 27, 2008 2:25am May 27, 2008 2:25am
that is not necessary, after the bad number there will not be much buyers and there will be some sellers so that is natural. also last week was not also excellent for euro. No reason for euro to go up more.
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10:00am USD http://forexfactory.com/images/misc/...act_medium.gif Consumer Confidence
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60.0 62.3
hmmm.. I think this is reason enough
- #10,019
- May 27, 2008 4:03am May 27, 2008 4:03am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
For the curious, here is another long trade I took after a bounce. nzdusd is trending upwards on the daily. This order triggered after the bounce up from the 0.7850 level.
This one is testing my patience. The pending order filled last Wednesday and has bumbled around going nowhere ever since.
Maybe I should cut it short with the swap as profit, but there is that enticing squeeze upwards on the price. I know which way the market would go the very second I closed the order
I shall stick with it. After all, if I have faith in a trading method then I should stick with it.
I wonder at which point faith becomes obstinate stupidity?
This one is testing my patience. The pending order filled last Wednesday and has bumbled around going nowhere ever since.
Maybe I should cut it short with the swap as profit, but there is that enticing squeeze upwards on the price. I know which way the market would go the very second I closed the order
I shall stick with it. After all, if I have faith in a trading method then I should stick with it.
I wonder at which point faith becomes obstinate stupidity?
- #10,020
- May 27, 2008 4:05am May 27, 2008 4:05am
- | Joined Apr 2008 | Status: You never know | 1,306 Posts
For the curious, here is another long trade I took after a bounce. nzdusd is trending upwards on the daily. This order triggered after the bounce up from the 0.7850 level.
This one is testing my patience. The pending order filled last Wednesday and has bumbled around going nowhere ever since.
Maybe I should cut it short with the swap as profit, but there is that enticing squeeze upwards on the price. I know which way the market would go the very second I closed the order
I shall stick with it. After all, if I have faith in a trading method then I should stick with it.
I wonder at which point faith becomes obstinate stupidity?
Do you still hold your eurusd long position?
Expected the unexpected