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EURUSD

  • #61,041
  • Feb 3, 2009 8:14am Feb 3, 2009 8:14am
I See 1.3000 By The End Off The Week

South Only If Us News Are Positive
  • #61,042
  • Feb 3, 2009 8:18am Feb 3, 2009 8:18am
Interesting PA just as I was leaving... The shaded circle is a long term primary TL a'rd 2934-40ish on my Ugly charts for weeks now, converges with R1 more or less...

More drawdown than I would have wanted for this trade but that's why it was a wide one in the first place... Who knew?
Attached Image
FUBAR...
  • #61,043
  • Feb 3, 2009 8:20am Feb 3, 2009 8:20am
Price just got rejected off the 38.2 Fib line.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 48 KB
  • #61,044
  • Feb 3, 2009 8:21am Feb 3, 2009 8:21am
I think shorts around 1.30/3050 seem reasonable
  • #61,045
  • Feb 3, 2009 8:31am Feb 3, 2009 8:31am
Quoting kentashiburo
Price just got rejected off the 38.2 Fib line.
It broke it.
  • #61,046
  • Feb 3, 2009 8:33am Feb 3, 2009 8:33am
Price will probably test 1.30 now, that is one resistance level, coupled with 1.3008 and 1.3014(Fib). There is a high possibility of a bounce off this area, at least once. Possible trading opportunity for a short (with a smart stop in place).
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 40 KB
Probability Professor
  • #61,047
  • Feb 3, 2009 8:34am Feb 3, 2009 8:34am
Quoting Galation
Price will probably test 1.30 now, that is one resistance level, coupled with 1.3008 and 1.3014(Fib). There is a high possibility of a bounce off this area, at least once. Possible trading opportunity for a short (with a smart stop in place).
One would also be wise to keep in mind the weekly pivot point of 1.2970: Potential possibility of a turning point.
Probability Professor
  • #61,048
  • Feb 3, 2009 8:35am Feb 3, 2009 8:35am
Quoting Galation
Long from 1.2763.
Stop Loss: 1.2600
Take Profit: 1.2950
My take profit level was hit from Sunday trade.
Probability Professor
  • #61,049
  • Feb 3, 2009 8:36am Feb 3, 2009 8:36am
Crazy chart...daily bullish divergence has me scared to short, while market overhang has be afraid to long.

Taking the day off...sometimes it's better to step back and clear the mental bias.
  • #61,050
  • Feb 3, 2009 8:36am Feb 3, 2009 8:36am
Quoting Galation
My take profit level was hit from Sunday trade.
Nice trade!
  • #61,051
  • Feb 3, 2009 8:38am Feb 3, 2009 8:38am
Quoting Galation
Price will probably test 1.30 now, that is one resistance level, coupled with 1.3008 and 1.3014(Fib). There is a high possibility of a bounce off this area, at least once. Possible trading opportunity for a short (with a smart stop in place).
Would you mind sharing the pivot indi please? Thanks
  • #61,052
  • Feb 3, 2009 8:43am Feb 3, 2009 8:43am
I noticed the retracement from 38.2 fibo on H4...it is the one which stopped EURUSD from rise continuation...and if you give a close look at the H4 chart,,,started the formation of HEAD&SHOULDER.....the right shoulder actually....so take care...i think this was last breath to take before sinking deep in the ocean....!!!!! this is my point of view from something i noticed...

accept my regards,

Ahmed
  • #61,053
  • Feb 3, 2009 8:48am Feb 3, 2009 8:48am
Quoting kentashiburo
Would you mind sharing the pivot indi please? Thanks
There ya go mate.
Attached File(s)
File Type: mq4 ###Auto Pivot.mq4   15 KB | 322 downloads
Probability Professor
  • #61,054
  • Edited 9:07am Feb 3, 2009 8:51am | Edited 9:07am
got 3 of my pair entries eu 29453 gu 4320035 chf 1523 but hit sl and was kicked out -35 pips re-entered at 1475... all and all on this one 10 pips better then original entry...still got 3 pairs entrys pending...
those who can, do. those who cant, talk about those who can
  • #61,055
  • Feb 3, 2009 8:54am Feb 3, 2009 8:54am
Once again I am sorry that I have not kept to my initial vision. This has cost me some money, fortunately I made up for it with the last move.
I will stick now to my initial plan. Long till 1.3018 and reverse heavy at this point. I actually see te price going to the upper wall of the major down channel on H4. The intersection with this level is next evenig, so either we will go up and down quite a few times or it is going higher. I am sticking with the first one, so closed my longs and wait for a dip to load again
Riding the Dragon....
  • #61,056
  • Feb 3, 2009 8:58am Feb 3, 2009 8:58am
home sale 3 min
those who can, do. those who cant, talk about those who can
  • #61,057
  • Feb 3, 2009 9:01am Feb 3, 2009 9:01am
Quoting SmoothTrader
It's almost perfect if the EUR were to sink to the 12800 neckline in the next 3 or 4 hours.
The right shoulder may go to 1,2959-1,2998.
I see this on a 4H chart
The best thing that can happen to you is to find out where you're wrong.
  • #61,058
  • Feb 3, 2009 9:03am Feb 3, 2009 9:03am
Quoting ahmedfouad77
I noticed the retracement from 38.2 fibo on H4...it is the one which stopped EURUSD from rise continuation...and if you give a close look at the H4 chart,,,started the formation of HEAD&SHOULDER.....the right shoulder actually....so take care...i think this was last breath to take before sinking deep in the ocean....!!!!! this is my point of view from something i noticed...

accept my regards,

Ahmed
Hi Ahmed,

Based on the 4H chart, considering the neck line @2764 & head @3328. That a whopping 564 pips potential or EURUSD dropping to 1.22xx zone.

I am thinking to log in a short position near 50% Fibo if 38.2 is convincingly broken.

Btw, does H&S work as well in a 1 min chart? I see a right shoulder forming as well with the neckline @2912.

Anyone?
  • #61,059
  • Feb 3, 2009 9:06am Feb 3, 2009 9:06am
do $ will become stronger after good news or it will not leave any impact and eur will go up???
  • #61,060
  • Feb 3, 2009 9:08am Feb 3, 2009 9:08am
It's tickling the weekly pivot of 1.2970. Tickly tickly.
Probability Professor
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