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EURUSD

  • #133,721
  • Aug 21, 2009 4:59am Aug 21, 2009 4:59am
Slowly crawling up to 1.44
  • #133,722
  • Aug 21, 2009 5:07am Aug 21, 2009 5:07am
I know it my be silly conclusion but I did some maths based on history shown on an image.
Please have a look and give some comments... or not.
Attached Image (click to enlarge)
Click to Enlarge Name: forecast1.gif Size: 39 KB
Do not follow the path trodden by human laziness.
  • #133,723
  • Aug 21, 2009 5:08am Aug 21, 2009 5:08am
After another attempt to break above yesterday's highs at $ 1.4270/80 Asian session fails, the euro once again turned lower, but as before, found support near the forty-second figure, and it is moving higher now, continuing the consolidation of a stable range. Support for the pair have had a surprisingly positive data on the PMI manufacturing and services sector in France, and now the single currency can be seen around $ 1.4249, where the bulls pressures Ofer, in up to $ 1.4255. Further Ofer, meanwhile, remained in the vicinity of $ 1.4270/80 with feet higher, and break above will open the way to $ 1.4320/30, but the loss of support around $ 1.4210/00 (below are also relatively large feet) will involve the deterioration of the prospects for a pair and reduce its risks to $1.4180/70 and $1.4140.
Trader
  • #133,724
  • Aug 21, 2009 5:08am Aug 21, 2009 5:08am
Its hard to see through the dust on my crystal ball to say for sure, but since it is really about 90% guessing...I'll guess that 1.4338 will be the reversal of the current move up (probably this is where news false spikes to after a slight pullback 'till then) and then a real drop after news to 1.4175> and then back up to settle at 1.4240 to end the week and leave us guessing again on Monday.
I do not use any indicators but only from trading the pair for several years and understanding its and the markets manipulative characteristics along with my crystal ball do I make these predictions. Threw away MAs and Stochs many years ago. Other than price on the chart, R/S might be the only thing worth looking at in trying to figure out where price might go next.
Of course my crystal ball also likes these numbers in the reverse order and that is why it is a crystal ball used as a tool and I am the trader who will deside weather or not to use the tool based on many other conditions at the time.
We will see...As later will come, will be the only for sure prediction.
Good day traders and have a great weekend no matter how your trades go today~
  • #133,725
  • Aug 21, 2009 5:08am Aug 21, 2009 5:08am
Just poked the weekly trendline...let's see if it wants to bust this. After that 4330 poses as some resistance. I might jump in on the test of it and see if I can ride it to 4400
  • #133,726
  • Aug 21, 2009 5:09am Aug 21, 2009 5:09am
Quoting perrier
My sell limit 4275 was hit earlier. my SL is above 4350.

if SL is not hit, will hold on till I TP for a good profit. May add more shorts if it goes much higher.

Will look out for housing sales figures as well as B.B speech to plan my next move.

If SL is not hit, there might just be a pot of gold at the other end. If SL is hit, it just a calculated loss.
same .. 427 and 4300....with S/L at 4350....right now im not lookin at the pot of gold... id take 20 pips and go to bed..

Look @ 1H stoch and RSI
  • #133,727
  • Aug 21, 2009 5:09am Aug 21, 2009 5:09am
4318-4323 is an area with a lot of confluence. We've got:

4319 1hr R2
4318 Daily R2
and

4323 Weekly R1 (big one)
  • #133,728
  • Aug 21, 2009 5:09am Aug 21, 2009 5:09am
Dude, you're fighting the trend, trend is your friend, close it quick and go with the 1.44 target.

Quoting $maker
im holding short at 1.43... and now i think its gonna bite me! ...getting cold feet perhaps
PM Me If You Need Help!
  • #133,729
  • Aug 21, 2009 5:11am Aug 21, 2009 5:11am
Quoting ashlee_17
Slowly crawling up to 1.44
See? My system is working.

P.S.

Lol. Why I always, after some few killer trades (with very nice profit I mean), indulging myself in a drunken scalping fest?
  • #133,730
  • Aug 21, 2009 5:12am Aug 21, 2009 5:12am
Hi all new to the factory but had to comment on E/U.

bearish divergence is showing up on 30 min and hour chart
I think it's going down. But when ???
  • #133,731
  • Aug 21, 2009 5:14am Aug 21, 2009 5:14am
Went up from 600$ to 1200$ and now i have margin level: 29,5%
I'm so f***ed up!
  • #133,732
  • Aug 21, 2009 5:14am Aug 21, 2009 5:14am
Quoting $maker
same .. 427 and 4300....with S/L at 4350....right now im not lookin at the pot of gold... id take 20 pips and go to bed..

Look @ 1H stoch and RSI
Good luck to us all!
  • #133,733
  • Aug 21, 2009 5:15am Aug 21, 2009 5:15am
Quoting BobHall
Dude, you're fighting the trend, trend is your friend, close it quick and go with the 1.44 target.
i guess you are right...in anycase... ive already got a loss... so i have my S/L at 1.4350... willl take it from there.. since its at a crucial 1.433
  • #133,734
  • Aug 21, 2009 5:17am Aug 21, 2009 5:17am
Smacked that upper BB on the 4hr chart and hesitating....Still have plenty of upside showing on the daily so we could just have to wait out some more bull flagging before a true break through it.
  • #133,735
  • Aug 21, 2009 5:18am Aug 21, 2009 5:18am
f*cking euro you hear us - go to down hell, it's an order
ROBOT FOREX
  • #133,736
  • Aug 21, 2009 5:19am Aug 21, 2009 5:19am
why not hedge the trade to 1.44, close the long there, and see how much it retraces, by rights it only needs to come down 50% of your gain to be in profit or close to break even.

Quoting $maker
i guess you are right...in anycase... ive already got a loss... so i have my S/L at 1.4350... willl take it from there.. since its at a crucial 1.433
PM Me If You Need Help!
  • #133,737
  • Aug 21, 2009 5:19am Aug 21, 2009 5:19am
looks like a bad friday so far...
My broker who does Gold and Oil for me (ive just been unlucky personally)
shorted gold at 941 ... and i have eu short at 1.43 ...

Only good thing is .. he is confident all will be down ..and he is pretty good at it..
  • #133,738
  • Aug 21, 2009 5:20am Aug 21, 2009 5:20am
Quoting BobHall
why not hedge the trade to 1.44, close the long there, and see how much it retraces, by rights it only needs to come down 50% of your gain to be in profit or close to break even.
my brain says ure right.... but stupid instincts wont let me!...i kinda rely on them
  • #133,739
  • Aug 21, 2009 5:21am Aug 21, 2009 5:21am
Quoting Forbes55
f*cking euro you hear us - go to down hell, it's an order
It might, but only after it hits 1.44
  • #133,740
  • Aug 21, 2009 5:22am Aug 21, 2009 5:22am
Quoting BobHall
why not hedge the trade to 1.44, close the long there, and see how much it retraces, by rights it only needs to come down 50% of your gain to be in profit or close to break even.
My main trading strategy is based on hedging with another high correlated pair, i.e: fiber hedged with cable. It works really well.
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