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  • #1,081
  • Feb 17, 2007 1:32pm Feb 17, 2007 1:32pm
Hi DownRiver,

I wish to understand how do u read these horizontal chart,I've seen it advertised but never knew what to read.

I'm using the traditional Candlesticks.

Regards,
  • #1,082
  • Feb 17, 2007 2:06pm Feb 17, 2007 2:06pm
Quoting DownRiverTrader
A possible scenario?? Anybody else long EURUSD? Looks like a tough onhttp://home.comcast.net/~downrivertr...D_02052007.PNG
I'm thinking a possible double top @1.3173 maybe it makes to 1.3200 looking to short from there ,let's see. by the way I read your earlier thread great stuff Maynerd!
  • #1,083
  • Feb 17, 2007 9:17pm Feb 17, 2007 9:17pm
Try reading through this post and see if it helps

Quoting blackielawless
Hi DownRiver,

I wish to understand how do u read these horizontal chart,I've seen it advertised but never knew what to read.

I'm using the traditional Candlesticks.

Regards,
  • #1,084
  • Feb 18, 2007 12:32pm Feb 18, 2007 12:32pm
There are free charts available at barchart.com for daily, weekly, and monthly for equity and deritive markets.

Specific to the ^eurusd the 2-14-07 channel breakout @3050 ran up to trendline resistance at 3175ish which is fib 50 to 61%; 3350 to 2850 mid term levels. My take this week will be long 3150-75 breaking TL to tgt 3275-3300; or repspect TL resistance holds for short 3100 to tgt 3050 and then 13000 to 2900 tgts. Weekly charts have past weeks respecting uptrend line from back to November 2005. This week should be interesting.
  • #1,085
  • Feb 18, 2007 1:07pm Feb 18, 2007 1:07pm
in my opinion Eu will break 1.31 tomorrow and will close down to 1.30 on friday due to retail sales and core cpi news from us
  • #1,086
  • Feb 18, 2007 1:35pm Feb 18, 2007 1:35pm
Quoting DownRiverTrader
When I look at a monthly and weekly chart I see an uptrend in place. Nothing fancy. Some may see something different on this pair, but an uptrend is what I see and I always remind myself of that on longer term trades.
I agree with you but, with a limit upside from here to around 1.34 level
  • #1,087
  • Feb 19, 2007 6:53am Feb 19, 2007 6:53am
Here are today's levels. Any move above 3156 I would be long into 3262. If you are short, use a break above this area as a possible spot to cover. Moving down, I would be long on a push below 3063 and looking for higher levels. If you are short into this level, then I would consider covering here. Building value and settling below 3063 area would cancel my bullish view and suggest we are heading down.


http://home.comcast.net/~downrivertr..._2-19-2007.PNG
  • #1,088
  • Feb 19, 2007 7:01am Feb 19, 2007 7:01am
Quoting DownRiverTrader
Here are today's levels. Any move above 3156 I would be long into 3262. If you are short, use a break above this area as a possible spot to cover. Moving down, I would be long on a push below 3063 and looking for higher levels. If you are short into this level, then I would consider covering here. Building value and settling below 3063 area would cancel my bullish view and suggest we are heading down.


http://home.comcast.net/~downrivertr..._2-19-2007.PNG
I very much like those old resistance new support trades. I would like to see this opportunity myself.
Profit is where readiness meets Opportunity
  • #1,089
  • Feb 19, 2007 7:36am Feb 19, 2007 7:36am
The Euro will be strong and bullish until ECB next meeting, and it should trade
above 1.337 and below 1.347.

there are 10 Bullish days for the Euro, if we will not get a signal for a new ECB rate hike the Euro could fall to 1.25 level.

I expect this week a more than 1% gain for the Euro vs USD.
  • #1,090
  • Feb 19, 2007 7:51am Feb 19, 2007 7:51am
...surely, EUR/USD will fall to below 1.3000....soon...
TheBe$t
  • #1,091
  • Feb 19, 2007 7:53am Feb 19, 2007 7:53am
Dont look at the fibo lines.
Attached Image
  • #1,092
  • Feb 19, 2007 8:05am Feb 19, 2007 8:05am
I hope you are right!!!

Quoting newforextrader
The Euro will be strong and bullish until ECB next meeting, and it should trade
above 1.337 and below 1.347.

there are 10 Bullish days for the Euro, if we will not get a signal for a new ECB rate hike the Euro could fall to 1.25 level.

I expect this week a more than 1% gain for the Euro vs USD.
  • #1,093
  • Feb 19, 2007 8:06am Feb 19, 2007 8:06am
I hope you are wrong!!!! Since I am long.

Quoting TheBest
...surely, EUR/USD will fall to below 1.3000....soon...
  • #1,094
  • Feb 19, 2007 9:40am Feb 19, 2007 9:40am
I'll be very surprised if that last leg (or even the current one) will repeat the pattern. Market geometry like that is actually quite rare.
  • #1,095
  • Feb 19, 2007 9:52am Feb 19, 2007 9:52am
Nice chart Cezary!

Carl Futia uses something similar, he calls it Box Theory and he said it was derived from Darvas Boxes. Here's the link to his blog's post on theory http://carlfutia.blogspot.com/2005/05/box-theory.html. And a link to one of his simple charts http://carlfutia.blogspot.com/2005/0...lar-boxes.html
-soso
  • #1,096
  • Feb 19, 2007 10:00am Feb 19, 2007 10:00am
Info only:
For those that look at the chart posted by soso, eurodollar is an entirely different market from EUR/USD so trying to compare prices will make you go "Huh?"

For others that don't ignore the fibs, there seems to be some correlation between Darvas/DiNapoli Cop op Xop? Yes? No?
  • #1,097
  • Feb 19, 2007 6:32pm Feb 19, 2007 6:32pm
Hi,
I have put 4 scenarios there:

1-Abandoning the current uptrend and falls, to 1.3117-1.3095 and even 78 to re-evaluate the trend. (40%)

2-A sudden boost goes up breaking barriers @ 70s,80s,and settle 200+ (12-50),and close there. (30%)

3-Slow clearence of orders @ 65-85 and probing from there for a breakout. (30%)


After all the 1.31052/78 I guess is a no or risky dealing area where no clues of direction I can see.

What do u think?

Trade Ur own mind,I'm just a beginner

  • #1,098
  • Feb 19, 2007 8:13pm Feb 19, 2007 8:13pm
Quoting TheBest
...surely, EUR/USD will fall to below 1.3000....soon...
The best...I know so far you are the best. If you just simply justify a bit, then it will give a better picture.
Shah For every action there is an equal and opposite reaction.....
  • #1,099
  • Feb 19, 2007 8:20pm Feb 19, 2007 8:20pm
...well...now, my short at 1.3175....the best price....
TheBe$t
  • #1,100
  • Feb 19, 2007 9:16pm Feb 19, 2007 9:16pm
...shorters will be happy on EUR/USD...

...now...if you are a beautiful girl and want my trading secrets, first I want a from you...
TheBe$t
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