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  • #37,501
  • Oct 7, 2008 10:20am Oct 7, 2008 10:20am
Quoting Driver55
In recent times it is difficult to maintain a position. I think in a reversal .. and we will try in area 1.3580
On my 1 hour chart, I see support at 1.3591 and 1.3555.
Is anyone close to my numbers or am I drawing the Fibonacci retracements incorrectly
KT
  • #37,502
  • Oct 7, 2008 10:21am Oct 7, 2008 10:21am
Sarcasm or tongue in cheek statements are oftentimes missed in writing... I"m one of those evil short side traders... and i love harassing the bulls during times like these
  • #37,503
  • Oct 7, 2008 10:22am Oct 7, 2008 10:22am
Quoting Beartrade
If the bull move was rejected, isn't it time to get short?

Or is that to negative in this era of political correctness
Lots of euro bashing in the news, speculation on it's demise.

I still can not get behind the USD, though...nothing political.
  • #37,504
  • Oct 7, 2008 10:23am Oct 7, 2008 10:23am
Quoting kentashiburo
On my 1 hour chart, I see support at 1.3591 and 1.3555.
Is anyone close to my numbers or am I drawing the Fibonacci retracements incorrectly
KT
currently we've bounced off 1.3591 twice. so ... right now it appears as support, but i'm not sure if it will hold.
  • #37,505
  • Oct 7, 2008 10:23am Oct 7, 2008 10:23am
Will wait some lines to see if can be broken.
1.3500/1.3700 may be very interesting to follow at short term!
Longs around 1.3500 shorts around 1.3700.
Keeping positions now...WOW. Only the lucky ones with shorts above 1.4200.
  • #37,506
  • Oct 7, 2008 10:24am Oct 7, 2008 10:24am
Its kind of a choice of death by hanging or death by firing squad...
Better the devil that you know, than the devil that you don't in my opinion.

I'm just enjoying watching the herd get slaughtered these days
  • #37,507
  • Oct 7, 2008 10:24am Oct 7, 2008 10:24am
I know there are some good traders here who have the timing and expertise to go long for a few pips. To the less experienced, may I suggest simply shorting rallies? There seems to be a collision of circumstances whose net result are going to drive the Euro lower---possibly much lower. I have been shorting every rally since we broke LT resitance at 1.3980, and it has been very successful. Unless we break back above 1.3980, shorts with proper MM are safe.
  • #37,508
  • Oct 7, 2008 10:24am Oct 7, 2008 10:24am
Quoting kentashiburo
On my 1 hour chart, I see support at 1.3591 and 1.3555.
Is anyone close to my numbers or am I drawing the Fibonacci retracements incorrectly
KT
your fibs are correct but do keep this in mind....when using fibs....master the trade of overlapping fibs as those become strong supports and resistances and are good indication for where the pair will go next...good example was just now after the high of the week was reached where we tapped the 23.6% fib line from 1.4585 to current low and bounced off it


sidenote=i say bounce because when analyzing longer term fibs you do not look at 5m or 15m chart...you look at 1h chart or 4h chart
Different opinions highly valued, ignorant to slander.
  • #37,509
  • Oct 7, 2008 10:25am Oct 7, 2008 10:25am
Quoting kasper
currently we've bounced off 1.3591 twice. so ... right now it appears as support, but i'm not sure if it will hold.
Thanks Kasper,

Just wanted to validate my numbers.
  • #37,510
  • Oct 7, 2008 10:26am Oct 7, 2008 10:26am
Quoting BoredToLoose
Will wait some lines to see if can be broken.
1.3500/1.3700 may be very interesting to follow at short term!
Longs around 1.3500 shorts around 1.3700.
Keeping positions now...WOW. Only the lucky ones with shorts above 1.4200.
I'm short from around 1.4700
  • #37,511
  • Oct 7, 2008 10:28am Oct 7, 2008 10:28am
Quoting psiholog
you sir are very good!
i look forward to your future opinions

here is my current analysis. we have been in a descending channel since last week. we just broke out of it. doing so we tapped the 23.6% fib retracement from 1.4585 to current low. as most breakouts do...a retest of the breakout wall has just occured. the question now is whether this is a false breakout or a true one. if it is a falsie...61.8% at 1.3555 (current low to high fibs) is a possible target. if we break that....a new low is in sight
doesnt look like a falsie at the moment. seems to be bouncing off.
  • #37,512
  • Oct 7, 2008 10:28am Oct 7, 2008 10:28am
Countertrending is a bit on the insane side right now...
  • #37,513
  • Oct 7, 2008 10:28am Oct 7, 2008 10:28am
Currently repelled back up from the downtrend utl we broke. I'd say above 750 we're in uptrend, a break of previous 15m channel ltl at 560 now and we're going down further.
On the path to Enrichment.
  • #37,514
  • Oct 7, 2008 10:30am Oct 7, 2008 10:30am
crash baby crash!!!!!
  • #37,515
  • Oct 7, 2008 10:30am Oct 7, 2008 10:30am
[quote=psiholog;2264853]you sir are very good!
i look forward to your future opinions[quote]


If you wanted to be ironic, I tell you that this is a place to exchange views. For example, I try to learn from all others.
The best thing that can happen to you is to find out where you're wrong.
  • #37,516
  • Oct 7, 2008 10:31am Oct 7, 2008 10:31am
Keep preaching the good word!

Cheap steaks all around
  • #37,517
  • Oct 7, 2008 10:33am Oct 7, 2008 10:33am
[quote=Driver55;2264903][quote=psiholog;2264853]you sir are very good!
i look forward to your future opinions
Quote


If you wanted to be ironic, I tell you that this is a place to exchange views. For example, I try to learn from all others.
i was being sincere. we are all learning here. 20 years from now i will still be learning. dont misunderstand me...
Different opinions highly valued, ignorant to slander.
  • #37,518
  • Oct 7, 2008 10:37am Oct 7, 2008 10:37am
Quoting kasper
doesnt look like a falsie at the moment. seems to be bouncing off.
considering this channel is over a week long....lets wait for the 4h candlestick close before determining that. if we reenter the current channel before that candlestick closes...it just means the upper wall was made a bit bigger...if we end above....the channel is broken!...at least for now


currently i am still short
Different opinions highly valued, ignorant to slander.
  • #37,519
  • Oct 7, 2008 10:40am Oct 7, 2008 10:40am
Quoting psiholog
considering this channel is over a week long....lets wait for the 4h candlestick close before determining that. if we reenter the current channel before that candlestick closes...it just means the upper wall was made a bit bigger...if we end above....the channel is broken!...at least for now


currently i am still short
the figure is not valid yet but on the five min chart, head shoulder head is forming...

what do you think?
  • #37,520
  • Oct 7, 2008 10:42am Oct 7, 2008 10:42am
Has the upward momentum losing steam and swing to downward ??
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