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  • #88,721
  • Apr 23, 2009 2:48am Apr 23, 2009 2:48am
Well it tried to cross 1.3050 but failed so now as per the indicators we might see a big move down soon
  • #88,722
  • Apr 23, 2009 2:52am Apr 23, 2009 2:52am
2 templates/charts for you to enjoy hope this helps. i accept pip donations lol
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Click to Enlarge Name: eurusd042309-v05.gif Size: 34 KB
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File Type: tpl eurusd042309-v05.tpl   18 KB | 248 downloads
File Type: tpl eurusd042309-2.tpl   7 KB | 238 downloads
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #88,723
  • Apr 23, 2009 2:55am Apr 23, 2009 2:55am
Today's options expiration day! Ahhh......
"The markets are the greatest chess match ever played."
  • #88,724
  • Apr 23, 2009 2:57am Apr 23, 2009 2:57am
Do we have conflicting stories and dramas here? Or a build up for some sledding? I know what I'm thinking and my bias hasn't changed much, though, as always; I'm not married to my bias, it could always change in a heartbeat!
Attached Image
Pip what you see; See what you pip!
  • #88,725
  • Apr 23, 2009 2:58am Apr 23, 2009 2:58am
Quoting eaglestar
2 templates/charts for you to enjoy hope this helps. i accept pip donations lol
The second chart looks like Star Trek to me.
Manage your risk accordingly and you're half done your home work.
  • #88,726
  • Apr 23, 2009 3:16am Apr 23, 2009 3:16am
How can any trader not benefit with the fantastic(fantasy)amount of charts that are posted here ? Every one of them shows winners all the way and I am yet to see one loser. Amazing stuffs.....
  • #88,727
  • Apr 23, 2009 3:22am Apr 23, 2009 3:22am
This is what i hate about fundamental, every news release is good for eu but i still not to sure where the price will go...
The trend is your friend and you is your enemy - MJ
  • #88,728
  • Edited 3:46am Apr 23, 2009 3:28am | Edited 3:46am
For the short term longs out there.

Attached Image (click to enlarge)
Click to Enlarge Name: eurchf ddc.gif Size: 51 KB

Yesterday saw the resis at 1.2980 break to the upside creating a support which has already been tested in Asia trade hours. If that breaks today look at area around last daily low - S1 for support, if that breaks the shorts are winners.

However, there are trends in play, the bearish channel since 06 Apr, which is still intatct and a begining of a short term upward channel reaching for the 61.8 fib at 1.3190. However, on the upside, look for resis at R1/38.2 fib (1.3060 area) and R2/50% fib/weekly and monthly pivot (1.3140 - 50 area). If today's highs are broken to the upside R2 will be a tough nut to break. But, R's and S's are there to be broken, including the upward short term channel to the downside.

I have a nimble long at 1.3010 to hold one maybe two days depending on PA and key levels that break. Edit: My SL is the lower short term trendline. Tight yes, but till todays highs break it could go either way.

Let's watch todays high for a start.

JC
  • #88,729
  • Apr 23, 2009 3:28am Apr 23, 2009 3:28am
Opinions are like a$$holes - mine says we are going up to test 3050 again and maybe 3080. The Fast moving stoch crossed the slow on the 1H and the RSI stayed above 40, so the trip up isn't over yet. However, the strength isn't there. I'm looking for shorts at 3050 - 3080 with a target of 2950.

That's my story and I'm sticking to it.
Attached Image (click to enlarge)
Click to Enlarge Name: stoch_rsi_h1.gif Size: 28 KB
  • #88,730
  • Apr 23, 2009 3:29am Apr 23, 2009 3:29am
Quoting Arslan
Well it tried to cross 1.3050 but failed so now as per the indicators we might see a big move down soon
Assuming I am with you, where to sell/tp/sl ?

Thx...
  • #88,731
  • Apr 23, 2009 3:51am Apr 23, 2009 3:51am
We may not see 1.37 again this year so corrections between here and say 1.34 should be sold.
The eventual bear leg might go all the way to PARITY by end 2009 or early
2010....
usa(and maybe uk) will recover way before trichet and co grasps the magnitude of this crisis.
Some drink at the fountain of knowledge. Others just gargle !
  • #88,732
  • Apr 23, 2009 4:00am Apr 23, 2009 4:00am
Quoting plan-b
We may not see 1.37 again this year so corrections between here and say 1.34 should be sold.
The eventual bear leg might go all the way to PARITY by end 2009 or early
2010....
usa(and maybe uk) will recover way before trichet and co grasps the magnitude of this crisis.
I would be wary of such bold predictions based only on "reasonable" macroeconomic fundamentals. Forex is a beast with a mind of its own and will often defy conventional economic wisdom for no apparent reason at all (there is always some reason actually, but with trillions of dollars entering and leaving the market everyday, buying or selling based on indicators, news, price action, etc. it is virtually impossible to explain "why" price does what it does).

Just my two cents.
  • #88,733
  • Apr 23, 2009 4:02am Apr 23, 2009 4:02am
hi all

wave analysis
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Click to Enlarge Name: eh1.gif Size: 43 KB
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  • #88,734
  • Apr 23, 2009 4:05am Apr 23, 2009 4:05am
Quoting 99vt66
Assuming I am with you, where to sell/tp/sl ?

Thx...
Its more of a waiting game if you wana trade big one, the good news from european markets also failed to push eur/usd up.

Getting into any trade at this time will be very risky. Lets wait or two big news from US which are unemployment claims and home sales. They may help set new course for eur/usd.

The rumors of recession ending up in US are also makin dollar stronger against other currencies.

Regards
  • #88,735
  • Apr 23, 2009 4:07am Apr 23, 2009 4:07am
Good News 4
Industrial New Orders m/m
  • #88,736
  • Apr 23, 2009 4:13am Apr 23, 2009 4:13am
morning just woke and read post.. cell phone alarm did not wake me.. overslept.. had some possitive pmi for e-zone .. or was it..i got my foot against the door tyring to hold back ue ... its pretty strong. euro index is off the floor.. it may not hold.. .. but it still seems weak... after dust settles and the realization pmi is only replacing stock.. maybe things will look different..

good luck...
those who can, do. those who cant, talk about those who can
  • #88,737
  • Apr 23, 2009 4:14am Apr 23, 2009 4:14am
So today's high broken. Expect a little pullback from R1. But R2 should be a reasonable expectation in the near term. However, watch for a downward break of 1.3030 - 40. This should now be a fairly strong intraday supp, not to mention the short term LTL.

JC

Quoting Waka
For the short term longs out there.

Attachment
Yesterday saw the resis at 1.2980 break to the upside creating a support which has already been tested in Asia trade hours. If that breaks today look at area around last daily low - S1 for support, if that breaks the shorts are winners.

However, there are trends in play, the bearish channel since 06 Apr, which is still intatct and a begining of a short term upward channel reaching for the 61.8 fib at 1.3190....
  • #88,738
  • Apr 23, 2009 4:14am Apr 23, 2009 4:14am
Quoting derek
hi all

wave analysis
HI Derek, would you mind explaining, how do u determine choosing the first wave?
  • #88,739
  • Apr 23, 2009 4:15am Apr 23, 2009 4:15am
Quoting Waka
For the short term longs out there.

Attachment
Yesterday saw the resis at 1.2980 break to the upside creating a support which has already been tested in Asia trade hours. If that breaks today look at area around last daily low - S1 for support, if that breaks the shorts are winners.

However, there are trends in play, the bearish channel since 06 Apr, which is still intatct and a begining of a short term upward channel reaching for the 61.8 fib at 1.3190....
is that an imran simple system chart? an imran refugee cool i thought i was the only one
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #88,740
  • Apr 23, 2009 4:17am Apr 23, 2009 4:17am
Quoting dannies
HI Derek, would you mind explaining, how do u determine choosing the first wave?
simple, or wedge find or wait correction 2 wave max. untill 95%
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