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  • #54,141
  • Jan 6, 2009 7:35am Jan 6, 2009 7:35am
from where I stand there's massive support around the 13300 level...dunno...
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #54,142
  • Jan 6, 2009 7:36am Jan 6, 2009 7:36am
Okay, I give up, the resistance has been broken.

Its bull time for 150 pips.
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  • #54,143
  • Jan 6, 2009 7:37am Jan 6, 2009 7:37am
GUYS,get patient!It's in down trend.
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What goes up must come down.
  • #54,144
  • Jan 6, 2009 7:39am Jan 6, 2009 7:39am
Quoting smartlee
GUYS,get patient!It's in down trend.
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It's all too risky at this moment.
  • #54,145
  • Jan 6, 2009 7:40am Jan 6, 2009 7:40am
15 min 20SMA getting rejected here?
  • #54,146
  • Jan 6, 2009 7:41am Jan 6, 2009 7:41am
My analysis of current trend:

On daily chart a bullish flag pattern formed from October to December.

This flag broke to upside on 11th December - the breakout was at 1.3067.

There was one spike which occured early in flag pattern and that spike ended at 1.3296.

The trendline on the breakout was not tested on the daily chart.

Therefore I think the pull back will test this trendline and then resume upward movement which should be the length of the flag.

On the test, and move back up, I will load the boat!!!
  • #54,147
  • Jan 6, 2009 7:42am Jan 6, 2009 7:42am
.... I hope now we can see some rationality in Forex Market, if that exists!

In this 1.2750 /1.4720 bull run I lost some money, I hedge in the wrong place and I could close my long sooner than my 1.3600 close.
Now I have a 1.4370 short open but less money in my account.
I will not open more trades, for me Forex now it is only for tiny trades and for Long Term.

Next Level to watch 1.28/1.27.
  • #54,148
  • Jan 6, 2009 7:44am Jan 6, 2009 7:44am
Both hedge marks hit. Now I hope it goes up to the projected 1.344 level before a decisive move down.

1.30 is yet to be seen in the next 12 hours
Riding the Dragon....
  • #54,149
  • Jan 6, 2009 7:44am Jan 6, 2009 7:44am
Quoting coscorp
from where I stand there's massive support around the 13300 level...dunno...
I also think that 1.3300 is going to stand firm, but spikes are possible when the the ISM data, over an hour from now.
  • #54,150
  • Jan 6, 2009 7:45am Jan 6, 2009 7:45am
Quoting deedeed
I see 1.3525 on this retracement. Does anybody also see it the way I see it :-) Long

I wouldn't touch it. Target 1.23-1.30.

In order to go long, at least the selling sentiment needs to fade away
  • #54,151
  • Jan 6, 2009 7:45am Jan 6, 2009 7:45am
Quoting kris
I m thinking bear still. This is retracement. 1.3350 is a strong resistance. As alot of traders have placed short orders there.
I also look to 61.8 fibo of last movement down. good luck
  • #54,152
  • Jan 6, 2009 7:49am Jan 6, 2009 7:49am
seems it liked the 3310 level....if it breaks 3400 I dont think it'll be coming back very soon...but with ISM coming out I prefer to sit by the sidelines for now..
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #54,153
  • Jan 6, 2009 7:49am Jan 6, 2009 7:49am
Its definitely bull until pass 1.3450 level.

The NY open will breakout to the top.
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  • #54,154
  • Jan 6, 2009 7:55am Jan 6, 2009 7:55am
Quoting kris
Its definitely bull until pass 1.3450 level.

The NY open will breakout to the top.
I think that I smell bull......... Wait until NY session and then we will see, there is no point in contradicting yourself every few minutes.
The way I see it at the moment (I covered half my shorts at 1.3324) I am looking to add to my short position, meaning I am still short biased and it is possible to see lower lows during the NY session.
  • #54,155
  • Jan 6, 2009 7:56am Jan 6, 2009 7:56am
Kris, care to explain HOW do you know that???? Is there actual data you based this on or just your guess??????


Quoting kris
I m thinking bear still. This is retracement. 1.3350 is a strong resistance. As alot of traders have placed short orders there.
  • #54,156
  • Jan 6, 2009 8:00am Jan 6, 2009 8:00am
a shortlived reversal.
  • #54,157
  • Jan 6, 2009 8:01am Jan 6, 2009 8:01am
Quoting Bemac
Sage Trading advice indeed. Meanwhile... I have a Short Limit Entry @ 1.3576 looking for ~1.3325. Hard Stop @ 1.3640.
Wenn der Meister spricht dann höhr ich zu.

Bingo

Excellent call
  • #54,158
  • Jan 6, 2009 8:02am Jan 6, 2009 8:02am
Quoting cobraforex
Wenn der Meister spricht dann höhr ich zu.

Bingo

Excellent call
Cobra, that's a lot of German words just to say Bingo.
Up or down, gimme a ticket
  • #54,159
  • Jan 6, 2009 8:06am Jan 6, 2009 8:06am
Quoting SpecialEd
Cobra, that's a lot of German words just to say Bingo.
Was a very big bingo

Sorry

It said: When Bemac talks, I'm listening
  • #54,160
  • Jan 6, 2009 8:07am Jan 6, 2009 8:07am
Quoting cobraforex
Was a very big bingo

Sorry
No apology needed. I was only teasing, my friend.
Up or down, gimme a ticket
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