Happy New Year and a prosperous 2009, guys!
- #18,312
- Jan 2, 2009 6:54pm Jan 2, 2009 6:54pm
- Joined Apr 2007 | Status: Trader | 1,021 Posts
HAPYY NEW YEAR!!!!!!!
Mike
Mike
Failure, is a wonderful teacher!
Hey Phillip. Good stuff on the stocks, I did just over 37% writing covered calls starting this past July. I'm sure you blew us all away in the FX markets though. Hope the email addresses continue
I was looking at the EURUSD and had to go back to a monthly/weekly chart for a long term uptrend line that actually showed a real bottom at some point and see something interesting. You can see that at the break of the trendline price has now come back to it. And what is the old rule that we have heard/read many times..."Previous support once broken...
Dear Friends.
As you all know USA is in more serious probs than EU. Especially, ECB is handling probs more effectively by means of its monetarism policies. I am in favor of buying EU in long term. We can handle declines as buying chances rather than trying to find selling changes. You can see Gann lines on the pic. The trend is obviously upward in long term as you can see on weekly and monthly graphs. In my point of view the former big retrace down was a correction. Now it’s in its own path up again. But as you can see the top was rejected just above both the 1x1 Gann line emerging from the extreme down and the blue Gann line coming from the 0 price point of the extreme top of 1995. As you can see it is resting and consolidating on the 2x1 line. If you look at the 4 hour graph you can see the shoulder head shoulder like MACD signal with a double bottom formation on the 2x1 line. This point is really interesting in the Gann point of view. There is also an intersection of two lines one of which is coming from up the other one of which is coming from down. Intersecting lines or points commonly reverse the price movement. So the next target is 8x1 blue line coming from up.
You can see a second scenario of the upward movement. I think the scenario above is relatively more considerable. We can all take Gann studies as supportive of the MACD 4 Hour strategy.
I have been studying Gann theory and applications. If there are people also interested in Gann, I will be highly glad when we can get a contact with each other via e-mailing option of the FXfactory.
Sincerely …Serkan DALDAL
- #18,316
- Edited Jan 5, 2009 3:09am Jan 4, 2009 5:46am | Edited Jan 5, 2009 3:09am
- Joined Oct 2007 | Status: follow momentum. | 1,202 Posts
You will see a touch more of me in here this year as I am coming back to trade the 4 hour with my interpretation of this method on the 15min.
there is something setting up atm but due to the trend and the first real day back this year i will sit it out or look at a short if the price gets to the 21 and bounces off it.
we do have a line up of support and support on the 89 but the price is in a down trend fast and overall, it's also in a descending triangle so it makes it a tricky one. the round bottom on the macd is not the best shape either.
watching the price tune into 09
hope you all had a happy new year!
there is something setting up atm but due to the trend and the first real day back this year i will sit it out or look at a short if the price gets to the 21 and bounces off it.
we do have a line up of support and support on the 89 but the price is in a down trend fast and overall, it's also in a descending triangle so it makes it a tricky one. the round bottom on the macd is not the best shape either.
watching the price tune into 09
hope you all had a happy new year!
- #18,317
- Jan 4, 2009 5:55am Jan 4, 2009 5:55am
- Joined Oct 2007 | Status: follow momentum. | 1,202 Posts
- #18,318
- Jan 4, 2009 3:39pm Jan 4, 2009 3:39pm
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
- #18,319
- Jan 5, 2009 12:04am Jan 5, 2009 12:04am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
Hello guys,
Looks like maybe there will be downside breakout here soon. Have a look
if I'm right/wrong.
Note: This is just demo account. Haven't test it live yet.
Looks like maybe there will be downside breakout here soon. Have a look
if I'm right/wrong.Note: This is just demo account. Haven't test it live yet.
- #18,320
- Jan 5, 2009 3:09am Jan 5, 2009 3:09am
- Joined Oct 2007 | Status: follow momentum. | 1,202 Posts