EURUSD

Blue Lines = S/R Levels
White Line = Quarter Point Level (QP Level is the point between s/r levels)

Hi I hope you doing good

what indicator you trust?

not good for bears if this gets out.

[NYT ON BANK NATIONALIZATION] Today's New York Times reports on US officials' efforts to think through the possibility of nationalizing banks, while avoiding any use of the word "nationalize". The Times quotes Adam Posen of the Peterson Institute comparing a policy of half measures to the failed approach to banking reform taken in Japan in the 1990s, but also notes that two top Obama advisors, Summers and Geithner, advised against government ownership of banks during Japan's banking crisis.

oops its out... wonder if anyone reads the ny times

It is too long to explain here but I like fibos and pivots and candels and cristal ball LOL

Yes thank you for the info.

then what should happen. it a strong judgment? I just asking

Thanks

Well what I see is more going up to 1.3280-1.3270 area and from there will see I don't jump in a trade until I see conformation

Gator, didn't realize at the time ((a few years ago)) this was you at the Cracker Barrel when I shot this in the parking lot, or I'd have left the bill at the cash register for you to pick up....

Maybe next time.

Anyway, this is my new chart for where all the major pairs are going... They've all got each other by what matters, and they're both chained together to a stout anchor...

nice picture

seem to be downtrend. but still waiting it bounce or not.

Really cool picture

yes now sell strength is already right away.

hey.. goes anybody have the upper t/l from way back on h1 being broken now? I don't like t/l plays... but just noticed it...

you were smart to wait.. *L*50

Hello all. For those of you who remember me, you know my methods well. For those of you who don't, note that I do not use indicators, just channels/horizontal support and resistance/patterns (triangles, W's, M's, h&s, double and triple tops and bottoms, cup and handles).

To understand the current situation we must look back in time to december. For those of you who remember, we were stuck in a triangle for over a month that could have went either way. When it broke up (and what a break up it was), the break out level was around the 1.2850 level (give or take a few pips on a 2000 pip scale..lol). Since the monster bull rally ended and the downtrend began...a nice channel developed which finally hit a stop at the same level that the bull rally began...around the 1.27xx-1.28xx level (note that this chart is on the 4h timeline). What was strong resistance is now strong support. It was rejected twice (for the time being) forming in the process a W at the bottom(note that my candlesticks may look different then yours since i use InterbankFx). The neckline of this W is at 1.3045 or so. This morning we got close to tapping the upper wall of the downtrend we have been in for so long. So where do we stand now?

I see a few possiblities:
1)A retest of the neckline of this W around the 1.3045 level followed by another bull run to the previous strong horizontal resistance which is around 1.3375(which is also about the equal distance of the W from the low to neckline)
2)The upper wall of this massive downtrend since 1.47 holds and we we will continue downwards possibly to new lows.

This analysis is based on the 4h chart looking at the longer term picture...my next post will show what i am currently watching for when it comes to trading decisions at the moment

might be one of those days when the bears and bulls were both right..a little..then it comes down to timing to be profitable..50 pip drop in 10 min..

Thanks, I will look out for your signal.