DislikedI am with you. still holding my long from 1.4219 at $5 with a stop loss at 1.4275 to give it plenty of room.. I believe will go up with Hurricane news, Gas prices, oil will go up, Lehman like chum in the water for the sharks. I think 1.4400 in sights easily. Thinking fundamentally, but have been wrong on that before. Let's go Euro!Ignored
- #30,022
- Sep 14, 2008 8:13pm Sep 14, 2008 8:13pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #30,024
- Sep 14, 2008 8:16pm Sep 14, 2008 8:16pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
Different opinions highly valued, ignorant to slander.
- #30,025
- Edited 9:17pm Sep 14, 2008 8:17pm | Edited 9:17pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
Something I wouldn't normally do on this thread, but it may give some insight into the short to mid term EU moves, as they are usually but not always correlated.
UJ has squeezed itself into an interesting place right now, especially as it's playing with some very long term support levels at 106.00 (Aqua) and 105.50 (Pink) on my charts. The first is the big picture, and the second is zoomed in some.
These are LONG term TL's and altho it's just your basic bold line on the chart, mentally I think of them as 10 to 30 pips wide as they range over such a long time. They get less exact as time goes by, but still represent S/R zones that price seems to respect over the months and years.
Hopefully the two charts together will give you the picture you need to expand these on your own charts to smaller TF's such as daily or weekly, if you find anything useful there, and if you find correlation between currencies such as the UJ/EU pairs to be of any use.
The caveat tho... a month is a long time these days, and things are a little screwed up right now...
UJ has squeezed itself into an interesting place right now, especially as it's playing with some very long term support levels at 106.00 (Aqua) and 105.50 (Pink) on my charts. The first is the big picture, and the second is zoomed in some.
These are LONG term TL's and altho it's just your basic bold line on the chart, mentally I think of them as 10 to 30 pips wide as they range over such a long time. They get less exact as time goes by, but still represent S/R zones that price seems to respect over the months and years.
Hopefully the two charts together will give you the picture you need to expand these on your own charts to smaller TF's such as daily or weekly, if you find anything useful there, and if you find correlation between currencies such as the UJ/EU pairs to be of any use.
The caveat tho... a month is a long time these days, and things are a little screwed up right now...
FUBAR...
- #30,026
- Sep 14, 2008 8:43pm Sep 14, 2008 8:43pm
- Joined Mar 2007 | Status: Trader | 3,709 Posts
I am expecting a retrace of the E/U to the 1.50.. level The E/U gap to the 1.38.. area was filled. Now it is time to go back up. U/J might fall to 104... level, but than expecting it to go up to 114...
On the other hand there is nothing to back the USD now. The reason that has strenghten so much is because all the hedge funds and banks and other types of companies are facing serious financial damages. So they pulled their money out of the other countries to save their asses back home. Now anyone can see who was boosting up the EUR so much.
Regards,
1.5 level.
- #30,027
- Sep 14, 2008 8:43pm Sep 14, 2008 8:43pm
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
well I'm back from a week off due to the flu. I still am not totally well but can't resist getting back into some trading & analysis, so I'm going to have a go today 
Wow, what a week in news and events. It will be interesting to see what happens today.
Hope that everyone had a good time trading last week and ready for this week.
Wow, what a week in news and events. It will be interesting to see what happens today.
Hope that everyone had a good time trading last week and ready for this week.
- #30,028
- Sep 14, 2008 8:54pm Sep 14, 2008 8:54pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #30,030
- Sep 14, 2008 9:01pm Sep 14, 2008 9:01pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
1.4303 is the high of the low bar on 5m chart. The low of the low bar is 1.4286 - at least on my chart it is.
the first fibs that matter for the day are the one from the low to the high. but then there was another movement from the high to the low made after portrayed as 0% on the green line. notice where the values are close to overlapping. This is important to me because it suggests the daily 23.6% combined with more then 61.8% in this picture suggests that area has just become support...if the high of the day gets broken and becomes support too...we may see a break up...a bull run
Different opinions highly valued, ignorant to slander.
- #30,031
- Sep 14, 2008 9:05pm Sep 14, 2008 9:05pm
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
- #30,032
- Sep 14, 2008 9:12pm Sep 14, 2008 9:12pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #30,033
- Sep 14, 2008 9:14pm Sep 14, 2008 9:14pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
damn missed my chance to enter...its all good ill wait for the retracement to see if the high of the day has become support...if not..oh well
...its all good ill wait for the retracement to see if the high of the day has become support...if not..oh well
Different opinions highly valued, ignorant to slander.
- #30,035
- Sep 14, 2008 9:21pm Sep 14, 2008 9:21pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
It's now approaching another res lvl @1.4387.
Edit:also to those using fibs...notice 1.4379 is 161.8% for today....and thats exactly where it hit a stop for now
Different opinions highly valued, ignorant to slander.
- #30,037
- Sep 14, 2008 9:26pm Sep 14, 2008 9:26pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
Nice trade
It's hesitating to break it but we will see how the price react later.
Different opinions highly valued, ignorant to slander.
Classic ascending triangle breakout.... guess this was one of those 20%ers. 
http://i37.tinypic.com/jrpjqd.gif
http://i37.tinypic.com/jrpjqd.gif