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EURUSD

  • #57,061
  • Jan 18, 2009 2:12pm Jan 18, 2009 2:12pm
iam new trader i just want to ask u what u mean that
there are too many strong resistence in that area
how i can know by myself that there is to many strong
  • #57,062
  • Jan 18, 2009 2:17pm Jan 18, 2009 2:17pm
Something is developing, my 4h and D1 charts are close to strong resistance, monthly and weekly are pointing down, already broke their support. Will wait to get clearer picture.

plz someone tell me for me how i can know that 4h and d1 are close to strong resistance
ok monthly and weekly go down i know from chart
but broke their support ? what that mean
  • #57,063
  • Jan 18, 2009 2:23pm Jan 18, 2009 2:23pm
Please tell me you are not trading with real money.
  • #57,064
  • Jan 18, 2009 2:27pm Jan 18, 2009 2:27pm
Quoting Elghoz
Something is developing, my 4h and D1 charts are close to strong resistance, monthly and weekly are pointing down, already broke their support. Will wait to get clearer picture.

plz someone tell me for me how i can know that 4h and d1 are close to strong resistance
ok monthly and weekly go down i know from chart
but broke their support ? what that mean
If you go to following link you will be able to understand what people are talking about and be able to do your own analysis.

http://www.babypips.com/school/

If not you will begin to irritate the senior traders and end up on an ignore list.

Good trading to you!
  • #57,065
  • Jan 18, 2009 2:27pm Jan 18, 2009 2:27pm
i did stop loose so i loose 200 $ i did stop loose friday at 1.3310
  • #57,066
  • Jan 18, 2009 2:36pm Jan 18, 2009 2:36pm
My Advice:
-Go to your brokers homepage
-Look for something called withdrawal form
-Fill it out. Check your account balance and write that number
in the "Sum:_________" Field
- Sign it
- Send it to your broker.

After that.

Read babypips.com until you can repeat everything in reverse.
  • #57,067
  • Jan 18, 2009 2:37pm Jan 18, 2009 2:37pm
Quoting tamster
Fundamentally, however, I believe the dollar can only depreciate.
Well don't make the mistake of only looking for EU bullish patterns to confirm this bias. Because just when you think it can only go higher guess what....
  • #57,068
  • Jan 18, 2009 2:52pm Jan 18, 2009 2:52pm
First file attached is my daily chart with fibonacci. Basically, I use those levels 0, 38.2 for support and 1, 61.8 for resistance.

Okey, so we have a major down move (red fibo levels), and intermediate swing (aqua levels). Please note, that retrace move have almost perfectly hit 61.8 level (yellow circle). We can say that this is a resistance level, because the price didn't go higher and after hitting ceiling it went down.

Now lets look at daily fibonacci 0.191 level (price 1.3030) was working as resistance for a while, but when it was broken, it became a support => And last swing down amazingly confirmed that by not breaking it, just touched and went up (blue circle)

To sum up, resistance is like a ceiling, which mission is not to let price go higher and support is like a hot griddle

In fact my english isn't so good (and I'm still a newbie) I hope you understood what is support and resistance levels, and how R/S change itselfs.

Now i would like to hear more experienced traders opinion about new swing and can it touch 1.4072 (61.8 intermediate?) BTW, I know that in forex everything is possible
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd.jpg Size: 145 KB
  • #57,069
  • Jan 18, 2009 3:00pm Jan 18, 2009 3:00pm
Quoting SunTrader
Well don't make the mistake of only looking for EU bullish patterns to confirm this bias. Because just when you think it can only go higher guess what....
That is very true and I have learnt hard lessons in that respect. Despite what I think may happen, I will still use the charts to check the reality.
  • #57,070
  • Jan 18, 2009 3:09pm Jan 18, 2009 3:09pm
at this moment EU us 3342.My broker open in 1 hr.i have longs .If this holds will be nice for me.I mean Tenfore say it is 3342.I hope it is true
  • #57,071
  • Jan 18, 2009 3:11pm Jan 18, 2009 3:11pm
Quoting 01donatas
there is very strong support on 1.3034, and the downtrend is loosing its weight
My predicition is SHORT until area 1.3215
  • #57,072
  • Jan 18, 2009 3:12pm Jan 18, 2009 3:12pm
Quoting "expert"
at this moment EU us 3342.My broker open in 1 hr.i have longs .If this holds will be nice for me.I mean Tenfore say it is 3342.I hope it is true
www.xe.com shows the same, it was a nice bounce
  • #57,073
  • Jan 18, 2009 3:17pm Jan 18, 2009 3:17pm
Quoting 01donatas
First file attached is my daily chart with fibonacci. Basically, I use those levels 0, 38.2 for support and 1, 61.8 for resistance.

Okey, so we have a major down move (red fibo levels), and intermediate swing (aqua levels). Please note, that retrace move have almost perfectly hit 61.8 level (yellow circle). We can say that this is a resistance level, because the price didn't go higher and after hitting ceiling it went down.

Now lets look at daily fibonacci 0.191 level (price 1.3030) was working as resistance for a while, but when it was broken,...
I was sthinking the same think few days ago when was writing about that.Blue area looks nice for my long but long way to that area if we ever go theare.Will see maybe i add more longs later.
Attached Image (click to enlarge)
Click to Enlarge Name: eurodaily.gif Size: 14 KB
  • #57,074
  • Jan 18, 2009 3:19pm Jan 18, 2009 3:19pm
Quoting conti
My predicition is SHORT until area 1.3215
yeah, i agree that it can fall about 100 pips and then go up again, but from what price it will fall, no one knows. May I ask you what are your prediction is based on ?
  • #57,075
  • Jan 18, 2009 3:27pm Jan 18, 2009 3:27pm
This is my Long account!!
I think one image is better than a thousand wordsl!!

Shorts, shorts all the way!!
Attached Image
  • #57,076
  • Jan 18, 2009 3:40pm Jan 18, 2009 3:40pm
Quoting tamster
That is very true and I have learnt hard lessons in that respect. Despite what I think may happen, I will still use the charts to check the reality.


But that is why it is best not to have a bias and just watch what the market does, not what the "talking heads" say it should.
  • #57,077
  • Jan 18, 2009 3:43pm Jan 18, 2009 3:43pm
Quoting conti
go Short:
there are too many strong resistence in that area,
the trendline is also down.
For what its worth, I agree with you after looking at the charts. The price tends to trend quite nicely on Sundays.
Not long to wait now..
  • #57,078
  • Jan 18, 2009 3:49pm Jan 18, 2009 3:49pm
it will go yto resistance r2 1.3381 all indicator show will go up 4h cross up and not that big down will do it so right now it seeem going up if u r in sell my opinion to stop
  • #57,079
  • Jan 18, 2009 3:55pm Jan 18, 2009 3:55pm
This is what I see on the daily. Possible end of the bull flag but no signal to go long yet. The W formation is something what could develop, reality will be different and a surprise.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009.01.18 22.45.gif Size: 31 KB
/ ... clarifying decisions ... /
  • #57,080
  • Jan 18, 2009 4:29pm Jan 18, 2009 4:29pm
for the morning is up trend until 1.3460
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