EURUSD

hi everybody,
good trading...new here but been following this forum over a year...learnt alot.tq

Just want to share my simple chart and what I think may happen soon.

From the 4H chart, we can see a double top peaking at the monthly R1 (1.4970).

Daily R1 on my chart is 1.4988 while yesterday's was 1.4973.

On the Daily chart, we can see a head&Shoulder forming if the market close lower today. I am not expecting it to materialize because it would mean an drop below 1.44 which I feel is not too possible.

The chart shows a bearish outlook although it is trending well within the long establish bull channel.

Currently, I still believe we would reach 1.5 (if PA breaks mthly R1) but it could be time to start building short positions from 1.496x and beyond. I will take my confirmation from my stoch next week to determine if bull strength is done or to wait for a better position.

Any comments are welcome.

EU's going down....

You are assuming too many things, there is nothing at this point that suggests a head & shoulders formation. It may very well crash if it does not break the upper channel, but there is no H&S at this point. A wave up, followed by a wave down, followed by a higher wave up, by themselfs, do not make up a shoulder, neck & head. If that were the case, you would have a head and shoulder continuously forming...prices wave up and down all the time. If you press to see things that are not there, you will be biased and miss good trades.

Here is a simple analysis for you guys:



This is just my opinion:
* Divergence resistance needs to be broken for uptrend to resume, i.e. QQE must continue above downward pointing green line.
* If big sellers are on the cards, you can be sure they will push the price above 1.5 to take out stops, driving the price higher, allowing them to sell at a discount.
* Otherwise, we can retrace to the previously daily high at 1.4843 to gain support before resuming uptrend.
* If we move up significantly tonight (more than 1% gain over NY session), I will view it as a blow off top and be extremely bearish.

Eyes on EURUSD 4921-19

Here we go...

Some food for thought.

This is a weekly chart. This time 1.4500 provided good support on its way up to 1.5000.

Hi wwwin,

Its on the second chart.

You are right that I am assuming a possible formation of the H&S on a longer term.

At this point, I am more inclined to the possibility of the double top if mthly R1 holds which I based my current trading plan on.

If the price does goes down to sub 1.44 then rebound, I will trade based on the possibility of a H&S. That's my trading plan for mid-term.

As I have mentioned, we are still in a bull channel and my lower channel band sit around 1.429x which is still within the channel.

I am not married to my trading plans and would change if required.

Cheers

OK mate, I was not critisizing you, it's just that if you are pressing to see things that are not there yet, you can be biased and miss good trades that develop the other way. There is already a double top on the hourly...but I don't know how predictive it is based on the whole picture...I would love to see a nice pin bar somewhere along the top to signal a reversal.

i think we are here to learn share and also laugh.. of course the main topic is e/u.. a little here and there at times.. no prob i guess..

but of course, strictly no vulgar, racial , religion, etc etc ( the usual nos )

this is my home thread since aug 08.. and i am loving it..

make a few great buddies here .. and i know a few folks hate me too..

but i am who i am..


NOW LETS GET THOSE PIPS KOALAs

No problem mate!

We are all here to learn, to share and to see things from a different prospective.

Any pointers/criticisms to become a better traders should always be taken in good light.

In fact, I truly appreciate RJ's post. A very good reminder I feel.

the weekly and monthly pivot resistance is proving to be a tough nut to crack.

And besides, if Boris & Kathy say there is no pattern...how can there be a pattern?
http://www.fx360.com/
That's a joke of course.

its go down after buyer fail to get up and euro lose his power

its sure that euro will try to broke the strong reistanse agin but with littile time
but that straggle make it weak and must recover let usd get control
and the most human how trade her and they see that no up more
we need down and from fundamental u see that
so if it break 1.4872 it will continue to down
that is clear view and hope to go 1.4800

I FORGET INDEX
IF IT CLOSE ABOVE 1.7081 IT WILL CONFIRMATION BIG DOWN

A table, a chair, a bowl of fruit and a violin- all is there .......... what else do we need to be happy?

Heads up heres to a happy Profitable pipin day to all ..

heads up of?

This current $hit$storm is why not only I but a number of others are no longer here on a regular basis. But if anyone wants to state that was a "Pro' thread I finally started last June in response to the elghoz's, alihalfazz's, and their kind on this one, you're entitled to your opinion but You Are Dead Wrong.

Read the opening post and show me one place where it EVER stated it was for anybody other than sincere traders with room to have some fun now and then when appropriate. You can't show me cuz it ain't there now, and it NEVER was. If other folks don't want to post there for whatever reason, that's their perogative. End of story.

But some of you might want to be be very sure of your Facts before you start echoing the sentiments of people who were blocked from posting there on Day One, or have picked up the 'Thread Police' mantra w/o knowing what the hell they're talking about.

Post #1 altho edited for briefness over the last 4 months still specifically states...

"The original “EURUSD” thread has of late steadily deteriorated into what many traders have often found to be counterproductive. Disruptive members seemingly Roam at will and any attempt to reign them in gets the restraining members flamed in response. Meanwhile we All have to deal with their silly issues and the resulting Disruption which can and on occasion has gone on for weeks or even months. Ignore lists get longer and longer, but it doesn't matter cuz they constantly get quoted anyway. New traders have to wade thru yards of Drivel and serious traders get fed up with the Drama while wondering why they’re still hanging a’rd. Several have decided it's not worth it and all but disappear.

So, can this or any other new thread survive in this environment? I hope so, cuz the old one is Broken imo. It may have a good day here and there, but one glitch and it shows its age pretty quick.

What will it take to make this one work then?
Steady Participation fromthose who Think they have Something to Offer, those who Actually Do have Something To Offer, those who have Nothing to offer but do have Questions, those who want a congenial place to Hang Out and finally those who mostly just need a Safe Place to get some assistance while they Cycle in and out of the Forex Blender trying to gain some Traction in their learning curve.

I Hope a new thread started AND supported by both established members and newer ones with a Consensus of what we’re all willing to Put Up With and what we’re not can find a Place here at FF. I’m pulling the trigger, You can decide to Long it or Short it...

Nothing has changed except ((speaking only for myself here)) that I'm closer than ever to being very scarce a'rd here for reasons that only partially have to do with the mess this thread and a couple others like it represents. But be careful what you wish for... you may get it.

If you don't have a year of seniority and over 100 posts on someone you can't instantly suspend them but have to wait for Twee to review the CR, and he can be a VERY busy guy these days. There's a few folks left here(fewer than before) who know either me or someone else will absolutely suspend there sorry a$$ in a heartbeat if they pull certain stunts and therefore they don't pull them... anymore.

Momentum is a factor in trading and it's a factor in the success of a so called 'competing' thread. This trainwreck of a thread has mountains of it and I quit trying to stand in front of it since the day I quit posting here regularly on June 18 '09.

Here's a little factoid that some of you might find interesting... the top 51 posters on this thread as of a couple hours ago since it was started over 5 years ago. Eyeballing this chart I'm seeing a'rd 20 of the top 50 posters are either GONE or else post so infrequently here it amounts to nearly the same thing. Elghoz, Hasnna and 'iii' (or me-me-me for those of you who were a'rd back then)) are in the 85-95ish bracket to give you an idea of what the next 50 look like.



Out of my 3020ish posts here, maybe 100 or so have been since mid June. You can draw your own conclusions from the list above according to time in FF and on this thread and the value of their posts, or in a couple cases the lack thereof. Many of you weren't even here then as registered members so if you want to talk about "the way it was or ought to be" or think you know what I'm about, remember you're maybe just a Little Late to this Party and there may be some things you just aren't aware of...

Tight assed thread police...
If someone spams or scams here or on any other thread and I see them first, I'll suspend their sorry a$$ with a Huge Grin on my face for Two reasons... I beat someone else to it, and I absolutely enjoy doing so. My personal best in one day so far is a'rd 14 Robin Hooders with every one of them confirmed and banned by Twee and I have the email replies to prove it.

If someone repeatedly and blatantly steal other peoples work w/o any attempt to credit it to the authors, I or someone else have and will report them to both the rightful owners of the work and FF Admin and hopefully get the ball rolling to have them ID'd accordingly, tracked, and dealt with appropriately and I have the reply emails to prove that as well. Btw... I'm FAR from being Alone in that endeavor and I could care less what anybody here thinks about it.

That's an embarrassment and a reproach on the entire FF community and anybody that thinks otherwise is entitled to their opinion but steal and improperly post other peoples work here as their own and it becomes the business of every legitimate member that invests their time here...

Empty next door? Whatever... Most of us that have been regular there don't need our hands held for every few pips we can scrounge up, and we tend to post accordingly... most of us have been Long euro for some time now, posted accordingly for anyone here or anywhere else to read or reply to ((they haven't)) and we'll wait for the trend to change... how complicated is that?

Noobs have ALWAYS been welcome there with any valid questions but we really don't need or want Teenybopper Fantasy Trade Chat all day long generating +50 pages a day of Crap, and I currently no longer have the interest or incentive to worry about them. They have my sympathy in this sharkpool but if they've never posted a single time there or asked an intelligent question, then why exactly should I or any of those guys care? It's alot Easier to take their pips and go to bed early.

But it's alot more Fun to help when possible. Or it was.

And I still have a'rd 100 serious pm's from newer traders inquiring about my pivot and fib style that I've personally replied to over the last 14 months since I started trading this pair again, from both this thread and also the Nights Around the Table thread (currently dormant) so any criticism otherwise is easier to just disregard than reply to...

This thread and others like the Auslanco thread have tremendous momentum and they'll probably maintain it for the simple reason there's no reason why they shouldn't. Any dimwit can register with FF and instantly start churning out crap posts by the bucket load and there's nothing you, me, or Twee can do about it for the simple reason there's no Rule against Crap Posts... Elghoz is/was proof of that.

And that brings up some other issues I'm not going to get into on this thread, but some of you will look back in 6-12 months and wish you'd done something different or else you'll have just faded away as well.

I'm thru here on this thread for all practical purposes for 4 months now and have Zero intention of coming back but that's a far cry from not Watching and acting when it's called for. Count on it.

If there were more of you that did the same this thread might have half the problems it currently has. But whatever... you'll have thread you're willing to put up with and it's really just that simple.

About the thread next door...? I said 4 months ago...
If this thread does Die, then so be it. The forum will have spoken, and Moving On remains an option for everyone. This thread will either accomplish its purpose or join the others in the Pile of Discarded and Forgotten Threads soon enough."

Like I said earlier, nothin' has changed... and this kind of crap only helps to focus and clarify some things.

Post wherever you want to.