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  • #19,301
  • Aug 11, 2008 3:32am Aug 11, 2008 3:32am
Try it I find it very useful.

Download to your Expert Indicators.

cwave
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File Type: mq4 Support_and_Resistance_(Barry).mq4   2 KB | 393 downloads
File Type: ex4 Support_and_Resistance_(Barry).ex4   2 KB | 301 downloads
  • #19,302
  • Aug 11, 2008 3:36am Aug 11, 2008 3:36am
Quoting Warren Forex
Insanity Rules and Fools Follow along at the cost of Billions of loss.
That's why it's always important to be nonbiased about some currency. I have thought all the way that US will crash and euro will survive. However when price follows technical analysis, it's better to stick to that and ignore fundamentals, I have been burned too many times trying to follow my gut feeling and reason about where the price is going and ignoring the price action which is still IMHO the most important indicator of them all - including fundamentals because the price action already includes fundamentals.

When the price action is not in sync with fundamentals then the market might know something you don't or there is a psychological move going on. Both of them are great ways to make money, psychological move even more because you are on different side than most other traders because the fundamentals tell different story.

Also I don't hesitate to get out if the price says so because I have no bias on the market.

By the way at the moment, the price action is very very bullish. It's interesting to see if there are any sudden drops today.

just my 2 (euro) cents.

cheers!
  • #19,303
  • Aug 11, 2008 3:51am Aug 11, 2008 3:51am
Quoting Shadowfx
Good morning all,

Plain & simple for me today

EUR seen 1.5045 over the weekend. which most brokers wont show you on your broker software, think Clouds also mentioned it in an earlier post.

Georgia "mini war" doesn't influence the pair that much IMO, cause it's not the EU part that's been invaded, only Oil might get a boost if pipelines will be destroyed. (No disrespect & don't get me wrong using word "mini war", I hope it all ends soon and feel for the loss of families involved, just consider this not large enough to have heavy impact on EUR)

Way overdue technical correction starting today as a response on IMO "Boosted Central Bank Intervention" drop.

I'm 90% bullish, 1.5 been sliced as butter, my targets for today are:

T1 Daily Pivot at 1.5111
T2 Weekly Pivot at 1.516
R1 Resistance at 1.5226

The 10% bearish will only come into play in case we see a drop below 1.50 again

As always...Just my 2 Cents...
Cool, thanks Shadowfx
  • #19,304
  • Aug 11, 2008 3:52am Aug 11, 2008 3:52am
you're really cool man, superb bottom picker

Quoting Clouds
i hope some people picked up longs at 4930
  • #19,305
  • Aug 11, 2008 3:52am Aug 11, 2008 3:52am
i use the barry supp and resistant. It's a good indicator to use with the 1min time frame with the gj. Havent tried it much with the eu,but i think it will be cool with the 1 hour chat, at least give u an insight on to if price will break the supp or rez line
  • #19,306
  • Aug 11, 2008 3:56am Aug 11, 2008 3:56am
Quoting tundy88
i use the barry supp and resistant. It's a good indicator to use with the 1min time frame with the gj. Havent tried it much with the eu,but i think it will be cool with the 1 hour chat, at least give u an insight on to if price will break the supp or rez line
Are you using it with Metatrader 4? I put it in my Experts/Indicators folder and could not get it to show up in my "Insert" list.
Up or down, gimme a ticket
  • #19,307
  • Aug 11, 2008 3:57am Aug 11, 2008 3:57am
WOW - Nice move out of the sudden

VERY DANGEROUS

your stops will NOT be executet the point you set them.

At least I don't know a broker who could handle that
  • #19,308
  • Aug 11, 2008 3:57am Aug 11, 2008 3:57am
Correct use it with Meta Trader 4.

Good Luck
cwave
  • #19,309
  • Aug 11, 2008 3:57am Aug 11, 2008 3:57am
Quoting cwave
Try it I find it very useful.

Download to your Expert Indicators.

cwave
Please axplain what is the blue dot and red dot ?
Thanks dude...
  • #19,310
  • Aug 11, 2008 4:00am Aug 11, 2008 4:00am
Red for resistance and blue for support.

Place your cursor on the dots and the information on the dots will appear.

cwave
  • #19,311
  • Aug 11, 2008 4:02am Aug 11, 2008 4:02am
Don't F' with Canada.
Attached Image
  • #19,312
  • Aug 11, 2008 4:10am Aug 11, 2008 4:10am
Quoting cwave
Red for resistance and blue for support.

Place your cursor on the dots and the information on the dots will appear.

cwave
thanks...
  • #19,313
  • Edited 4:15am Aug 11, 2008 4:10am | Edited 4:15am
the blue lines are supp line, if price breaks above it, it means it might go up for a while,the red line are rez line, if price breaks below it, it means it might go down. The whole idea of barry is that it's like a normal rez line that goes with prices. Prices doesnt break barry 6 out of 10 times..
PS:As you can see on the 15min chart, price didnt break barry up, and ended up going back down again...it's a bounce anyway,but this will at least give you an insight on when a bounce will come up
  • #19,314
  • Aug 11, 2008 4:10am Aug 11, 2008 4:10am
Price went below my forecast at 1.4950, so now I am long.
There are too many factors now and longs seems at this point the right thing to do, but this war at Europe doors can mess all this.
Let's see what will happen this week.

I will close my longs at 1.4944. Add longs at 1.5091.
Shorts only below 1.4940.

GL
  • #19,315
  • Aug 11, 2008 4:11am Aug 11, 2008 4:11am
hi guys...lokks like eu is heading towards 1510..hopeully it will get there today
  • #19,316
  • Aug 11, 2008 4:12am Aug 11, 2008 4:12am
Quoting Clouds
Does anybody know the highs/lows over the weekend?
well, speaking for myself I was high on alcohol and sodium, and low on carbs...
  • #19,317
  • Aug 11, 2008 4:13am Aug 11, 2008 4:13am
Quoting BoredToLoose
There are too many factors now and longs seems at this point the right thing to do, but this war at Europe doors can mess all this.
I'm from europe and I can assure that the war has nothing to do with europe.

From US perspective the war would be about the same thing as war in Venezuela.

One thing it will probably affect however is oil price and that will have effect on many things.
  • #19,318
  • Aug 11, 2008 4:14am Aug 11, 2008 4:14am
Quoting mrmunir
hi guys...lokks like eu is heading towards 1510..hopeully it will get there today
or tomorrow. Im seeing some Resistance at 5080 , the 20 EmA on 2HR
  • #19,319
  • Aug 11, 2008 4:16am Aug 11, 2008 4:16am
Just curious. Anyone here thinks (or hope) that the bias will change to the downside once New York opens?
  • #19,320
  • Aug 11, 2008 4:16am Aug 11, 2008 4:16am
Quoting akirax
all gone?

cleaning their gunbarrels after shooting it down. then lock and load, and back on the parcourse to annihilate those who think we'll see 1.45 anytime soon.
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