hmmm u mean before market close it may go to 1.47?
interesting! why so? it seem so dead now
- #25,741
- Aug 29, 2008 2:32pm Aug 29, 2008 2:32pm
- #25,742
- Aug 29, 2008 2:38pm Aug 29, 2008 2:38pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
finally approved for posting. been reading this thread for a while, just wanted to chime in and say hello. new to forex,ran a demo account for a while, but still need to work on reading the technical charts correctly. Apologize in advance for the potential "stupid" questions, but hey, only way to learn
Around here there are no stupid questions.
Only stupid prognostications.
Read through the B.S. and you will do fine.
- #25,744
- Aug 29, 2008 2:40pm Aug 29, 2008 2:40pm
- | Joined Apr 2008 | Status: cold steel and sunshine | 443 Posts
finally approved for posting. been reading this thread for a while, just wanted to chime in and say hello. new to forex,ran a demo account for a while, but still need to work on reading the technical charts correctly. Apologize in advance for the potential "stupid" questions, but hey, only way to learn
- #25,746
- Aug 29, 2008 3:06pm Aug 29, 2008 3:06pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Wait til you see the answers you get....just kidding guys. Have a good weekend everyone.
Like the avatar.
C Ya good weekend all.
- #25,747
- Aug 29, 2008 3:21pm Aug 29, 2008 3:21pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
Different opinions highly valued, ignorant to slander.
- #25,749
- Aug 29, 2008 4:13pm Aug 29, 2008 4:13pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
The power of fib expansions .. that bear flag stopped almost at 61.8 ( just squeaked above it , but kept getting pulled back to it )
Now the bulls MAY be in trouble as todays price action shows as a descending wedge , which in a down trend in a bearish continuation pattern
I am neither bull nor bear as there are way easier pairs to swing trade out there right now ( like gbpjpy )
Have a great weekend everyone
Now the bulls MAY be in trouble as todays price action shows as a descending wedge , which in a down trend in a bearish continuation pattern
I am neither bull nor bear as there are way easier pairs to swing trade out there right now ( like gbpjpy )
Have a great weekend everyone
Blogging daily now at www.volume.zone
- #25,751
- Aug 29, 2008 9:33pm Aug 29, 2008 9:33pm
- Joined Mar 2007 | Status: Trader | 3,709 Posts
Below we have a weekly view of our favorite pair.
From a purely technical perspective we are bottoming.
We've got a long term trend line acting as support.
A move to the .4580 area would give us a nice double bottom.
If we assume for a minute that a bottom is in place let's look at possible retraces.
I've drawn a fib from our latest move down. (Again - I'm making the assumption a bottom is in place)
I don't believe we move higher than a 38.2 before the next leg down.
The last double top on this pair saw a 38.2 prior to moving south.
That puts us near .5100.
Once the next move down resumes the next support level based on S/R theory puts us near .3850.
Keep in mind these are just random scribbles on my part.
I don't trade long term and could care less about the direction as long as there is one.
I'm on vacation with one of my hedge fund buddies and he walked by an noticed my chart and said, "we are great at finding patterns in historical data," and continued to bed.
He's correct... but I was bored.
From a purely technical perspective we are bottoming.
We've got a long term trend line acting as support.
A move to the .4580 area would give us a nice double bottom.
If we assume for a minute that a bottom is in place let's look at possible retraces.
I've drawn a fib from our latest move down. (Again - I'm making the assumption a bottom is in place)
I don't believe we move higher than a 38.2 before the next leg down.
The last double top on this pair saw a 38.2 prior to moving south.
That puts us near .5100.
Once the next move down resumes the next support level based on S/R theory puts us near .3850.
Keep in mind these are just random scribbles on my part.
I don't trade long term and could care less about the direction as long as there is one.
I'm on vacation with one of my hedge fund buddies and he walked by an noticed my chart and said, "we are great at finding patterns in historical data," and continued to bed.
He's correct... but I was bored.
- #25,758
- Aug 30, 2008 3:01am Aug 30, 2008 3:01am
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #25,760
- Aug 30, 2008 5:05am Aug 30, 2008 5:05am
- Joined Sep 2007 | Status: gone fishing | 5,782 Posts
