The framework is there; we just have to work on our frame of mind.
- #35,367
- Sep 30, 2008 6:23am Sep 30, 2008 6:23am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
last update for a while...this time on an hourly chart
now that we broke 61.8% fib and no retest of the previous triangle was attempted...we should easily reach the area algirdas mentioned earlier 1.4175 or so with no real supports...we could drop much lower as well considering its the last day of the month and people gotta make their money(hedge funds and so on)
now that we broke 61.8% fib and no retest of the previous triangle was attempted...we should easily reach the area algirdas mentioned earlier 1.4175 or so with no real supports...we could drop much lower as well considering its the last day of the month and people gotta make their money(hedge funds and so on)
Different opinions highly valued, ignorant to slander.
- #35,371
- Sep 30, 2008 6:37am Sep 30, 2008 6:37am
- Joined Mar 2007 | Status: Trader | 3,709 Posts
Ok....everybody sing a little Tom Petty with me
Freeee fallinnnn
- #35,377
- Sep 30, 2008 6:48am Sep 30, 2008 6:48am
- Joined May 2006 | Status: Still here. | 2,602 Posts
The gap created by the last down move.
It will close.
You can also see the 61.8 of the last big down move. (Near .4258)
When it gives - the entire move will retrace and create a double bottom.
Mike
I still have a 75 pips sunday candle instead of your gap... but I get the point!
- #35,379
- Sep 30, 2008 6:50am Sep 30, 2008 6:50am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
i think were about to witness a great dollar rally here...heres why
Attachment
that lower wall gets broken...game over euro...
...with that said....i think its a good time to be flat now..at least until trichet talks...he could drive this pair to 1.4000...or back to where we started...patience is a virtue now...happy pippin all!
Different opinions highly valued, ignorant to slander.
- #35,380
- Sep 30, 2008 6:54am Sep 30, 2008 6:54am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
to all wondering why i think we have run out of steam for now...heres why...the falling wedge we were in until now just broke to the down side...a period of consolidation should come
Different opinions highly valued, ignorant to slander.