Thanks! That is why I wrote a possibility. It looked to me at the time that the head was forming as it fell, but now the head looks like it has decided to put the ears on
I posted chart earlier this morning and have, on the downside a target1 of .3580, target2 .3529, and on the upside if .3747 breaks we may go to at least .3840 area.
As far as tomorrow, alot of the unemployment expectations are probably already baked in, and may even be over-ripe....we'll see.
- #54,822
- Jan 7, 2009 4:31pm Jan 7, 2009 4:31pm
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
8-1-09
I have just entered a long position on the EUR/USD at 1.3660
at 9am Australian Eastern time.
with a stop of 250 points
first profit target at 1.3860
im basing my trade on The close of the prior daily candle taking the
form of a hammer, and the current daily candle which has just closed has formed a bullish engulfing candle, im anticipating the price to rise from here.
Im also basing my trade on the anticpation of the price
completeing a classic formation, the inverted head and shoulders.
The inverted head and shoulders on the daily...
If the pattern holds true...head to neckline is about 2400 pips and price should continue north past the neckline for about 2400 pips.This animal is going to take awhile to move 4800 pips(3-6 months maybe).
The hammer candle looks like the real body may be a tad too large but whatever. The engulfing candle will need to be verified with tomorrow's candle as many in the past have failed.
It is great to see someone explain their analysis in depth. Good job
- #54,831
- Jan 7, 2009 5:42pm Jan 7, 2009 5:42pm
- | Additional Username | Joined Sep 2009 | 8,623 Posts
My EA is not just a simple lawn mower but it is a certified heavy duty Combine Harvester 
Its picking up pips on eurusd like mad.
Its picking up pips on eurusd like mad.
Holy Crap......this isnt a lawnmower, its a Combine Harvester
I had a bad morning, traded like an idiot and didnt make the pips I know that I should have done......so I decided to re read this thread and give JungleLion's latest EA a run......[size=3][color=darkorchid]WOW[size=2][color=black]......in the past two hours its closed for -14, +100 and -14 and currently has open +176, +83 & +183 trading on GBPUSD, EURUSD & GBPCHF...
- #54,832
- Jan 7, 2009 5:49pm Jan 7, 2009 5:49pm
My EA is not just a simple lawn mower but it is a certified heavy duty Combine Harvester
Its picking up pips on eurusd like mad.
thanks in advance
