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  • #164,461
  • Nov 23, 2009 6:28am Nov 23, 2009 6:28am
I can see the start of a retrace possibly to the MA150 at 4915, or even as far down as the Pivot. It all depends on how the buyers react to Trichet in 40 mins. They may drive it back up again above 1.5. It will need a strong impetus to get there though. That was a steep bull move from 4830 with a fairly strong resistance forming on the H1 at 4989. The last H1 closed bearish below support of 4969, lets see where this one closes, if it closes below 4969 we have confirmation of a retrace especially if the move down goes beyond 50fib, Trichet may give the bulls more confidence though. Form your own opinions, this is my reading of the prices.

Lovely action for a Monday, eyes on 4915.

Then again what do I know...
  • #164,462
  • Nov 23, 2009 6:32am Nov 23, 2009 6:32am
Quoting cloggie
I can see the start of a retrace possibly to the MA150 at 4915, or even as far down as the Pivot. It all depends on how the buyers react to Trichet in 40 mins. They may drive it back up again above 1.5. It will need a strong impetus to get there though. That was a steep bull move from 4830 with a fairly strong resistance forming on the H1 at 4989. The last H1 closed bearish below support of 4969, lets see where this one closes, if it closes below 4969 we have confirmation of a retrace especially if the move down goes beyond 50fib, Trichet may give...
do you know if the speach from trichet can be heard live if so where??

cheers
NOTHING VENTURED, NOTHING GAINED
  • #164,463
  • Nov 23, 2009 6:35am Nov 23, 2009 6:35am
Quoting franco73
thanks so much for taking the time to explain that to me much appreciated

cheers
I hope this helps you.
I do not play off any form of Indicator, only Price. Having said that, I know traders who play off Fibs and are very successful. But as I said earlier. Some things work some of the time, but not all of the time, I find Pure Price Action to be the way.

Good luck to you.
Good Trading. (keep it simple).
  • #164,464
  • Nov 23, 2009 6:35am Nov 23, 2009 6:35am
Quoting franco73
do you know if the speach from trichet can be heard live if so where??

cheers

I monitor it on Bloomberg, not sure where to get it on free service? Anyone?
  • #164,465
  • Nov 23, 2009 6:38am Nov 23, 2009 6:38am
Quoting Jasper
I hope this helps you.
I do not play off any form of Indicator, only Price. Having said that, I know traders who play off Fibs and are very successful. But as I said earlier. Some things work some of the time, but not all of the time, I find Pure Price Action to be the way.

Good luck to you.
i dont particularly like indicators either and would love to learn to trade off price, is there anywhere you can direct me, to read and learn how to do this?
NOTHING VENTURED, NOTHING GAINED
  • #164,466
  • Nov 23, 2009 6:44am Nov 23, 2009 6:44am
Quoting franco73
i dont particularly like indicators either and would love to learn to trade off price, is there anywhere you can direct me, to read and learn how to do this?
Google, Natalie Bryant. look for the Natalie Bryant related to Forex. I probably can't say anymore here as it may be regarded as advertising, which it is not, just help.
You need to spend a lot of screen time, watching what bars do inside one another, From the Daily Chart, 4 or 3 hourly charts, Hourly chart, 15 min chart, 5min chart.
Good luck in your quest.
Good Trading. (keep it simple).
  • #164,467
  • Nov 23, 2009 6:48am Nov 23, 2009 6:48am
Quoting cloggie
I monitor it on Bloomberg, not sure where to get it on free service? Anyone?
marketwatch.com
  • #164,468
  • Nov 23, 2009 6:51am Nov 23, 2009 6:51am
Quoting Jasper
Google, Natalie Bryant. look for the Natalie Bryant related to Forex. I probably can't say anymore here as it may be regarded as advertising, which it is not, just help.
You need to spend a lot of screen time, watching what bars do inside one another, From the Daily Chart, 4 or 3 hourly charts, Hourly chart, 15 min chart, 5min chart.
Good luck in your quest.
its all good, i appreciate all your insight

cheers
NOTHING VENTURED, NOTHING GAINED
  • #164,469
  • Nov 23, 2009 6:56am Nov 23, 2009 6:56am
4982 being tested on M15 (formed at 1145GMT), still no confirmation of a retace. If it breaks the key is still 4989
  • #164,470
  • Nov 23, 2009 7:03am Nov 23, 2009 7:03am
4982 held, 5th lower high on H1; still looking good for a retrace.
  • #164,471
  • Nov 23, 2009 7:04am Nov 23, 2009 7:04am
Where can we see mister trichet ?
  • #164,472
  • Nov 23, 2009 7:04am Nov 23, 2009 7:04am
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 166 KB
Quoting franco73
its all good, i appreciate all your insight

cheers
Look at a chart, particularly a 1 hour or 4, look for the areas of price that have the most action aroun them, that will signal where most of your buyers and sellers are gathered at. That will also help in identifying your support and resistance areas. The more activity, the stronger the support and resistance areas. i
ll post a chart to show you.

Damn my writing sucks!http://cdn.forexfactory.com/images/icons/icon9.gif
All that is left in FF is just plain garbage. "Cloggie"
  • #164,473
  • Nov 23, 2009 7:06am Nov 23, 2009 7:06am
Mr Trichet may just speak on how he feels the Eurozone is weatheing the storm nicely, and shoot this sucker through the roof!
All that is left in FF is just plain garbage. "Cloggie"
  • #164,474
  • Nov 23, 2009 7:06am Nov 23, 2009 7:06am
Here is the line i am watching as we head into new york


Attached Image (click to enlarge)
Click to Enlarge Name: eu.GIF Size: 53 KB
Some drink at the fountain of knowledge. Others just gargle !
  • #164,475
  • Nov 23, 2009 7:06am Nov 23, 2009 7:06am
Negative News from Trichet on Euro..
In Charts We Trust!
  • #164,476
  • Nov 23, 2009 7:09am Nov 23, 2009 7:09am
Quoting geocatalinfx
Where can we see mister trichet ?
IMHO,we dont need 2c him.whatever he says,market wil react temporarily then moves according to tech unless the speech concerns of interest rate or watever rates....????
  • #164,477
  • Nov 23, 2009 7:13am Nov 23, 2009 7:13am
Heavy resistance on EURO at 1.4990...momentum weakening...
In Charts We Trust!
  • #164,478
  • Nov 23, 2009 7:13am Nov 23, 2009 7:13am
Quoting tonyo524
Attachment

Look at a chart, particularly a 1 hour or 4, look for the areas of price that have the most action aroun them, that will signal where most of your buyers and sellers are gathered at. That will also help in identifying your support and resistance areas. The more activity, the stronger the support and resistance areas. i
ll post a chart to show you.

Damn my writing sucks!http://cdn.forexfactory.com/images/icons/icon9.gif
so looking at the h1 now it seems there is congregation, and by the looking at the currrent candle we could be looking at a break going south?
NOTHING VENTURED, NOTHING GAINED
  • #164,479
  • Nov 23, 2009 7:14am Nov 23, 2009 7:14am
Quoting X.Oden
Heavy resistance on EURO at 1.4990
Yes, I got 4989, and holding nicely
  • #164,480
  • Nov 23, 2009 7:18am Nov 23, 2009 7:18am
Quoting tonyo524
Damn my writing sucks!http://cdn.forexfactory.com/images/icons/icon9.gif
Ever tried the "text" tool in Paint?
forget about tomorrow, just steal away into the night
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