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  • #299,801
  • Oct 2, 2010 10:56am Oct 2, 2010 10:56am
Quoting Jhig
Couldn't have said it better myself.

I've been 'forecasting' 1.38 all week just by looking at the longer term chart. Traders seem to forget theres more going on in the market than the '5 min'. EU ran for 1000 strong bullish ticks, with no retrace, and no one saw it. Traders were too busy calling tops.

Now that price has reached 1.38, I'm still looking for a push upwards to reach 1.40. Don't think retrace will happen until price makes 1.40 or near.

One retrace has happened, I believe price will fall all the way down to 1.30.

Attachment

With...
you got it joseph! right around 1.40 is a big monthly resistance. It kind of looks as if that psych level is acting as a magnet. I'll definetly be short from 1.40.
  • #299,802
  • Oct 2, 2010 11:54am Oct 2, 2010 11:54am
Quoting realdestina
Mr Hatch.. can u give me the auto fibo indicator..tq
there is no such thing in use... it's just the common fib-tool everyone uses, when it comes to mt4. there is an indiciator called bobokus-something that automatically redraws fib-lines, but that was a bit confusing so i deleted it.
  • #299,803
  • Oct 2, 2010 12:14pm Oct 2, 2010 12:14pm
Quoting Jhig
Couldn't have said it better myself.

I've been 'forecasting' 1.38 all week just by looking at the longer term chart. Traders seem to forget theres more going on in the market than the '5 min'. EU ran for 1000 strong bullish ticks, with no retrace, and no one saw it. Traders were too busy calling tops.

Now that price has reached 1.38, I'm still looking for a push upwards to reach 1.40. Don't think retrace will happen until price makes 1.40 or near.

One retrace has happened, I believe price will fall all the way down to 1.30.

Attachment

With...
What are your reasons for thinking it will make 1.40 before putting in a significant retrace, other than it being a psych level.
1.38 is 161.8% extension of the Aug down move, it's also a clean channel high and prior strong resistance from Mar.
Attached Image (click to enlarge)
Click to Enlarge Name: EU Resistance.jpg Size: 169 KB
  • #299,804
  • Oct 2, 2010 12:27pm Oct 2, 2010 12:27pm
Quoting mfoste1
you got it joseph! right around 1.40 is a big monthly resistance. It kind of looks as if that psych level is acting as a magnet. I'll definetly be short from 1.40.

Agree with you all, here my view of this EU, 1.404xx is the good point to be going down .... enclosure the EU chart on the weekly tf

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: eurousd wk1 tf.gif Size: 29 KB
  • #299,805
  • Oct 2, 2010 12:31pm Oct 2, 2010 12:31pm
EU is going to blow right through 1.4xxx next week.
  • #299,806
  • Oct 2, 2010 12:35pm Oct 2, 2010 12:35pm
Quoting courtt5
EU is going to blow right through 1.4xxx next week.
How do you know that?
  • #299,807
  • Oct 2, 2010 12:42pm Oct 2, 2010 12:42pm
He's God, didnt you know that
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #299,808
  • Oct 2, 2010 12:44pm Oct 2, 2010 12:44pm
Quoting Bootleger
He's God, didnt you know that
  • #299,809
  • Oct 2, 2010 2:19pm Oct 2, 2010 2:19pm
1.4 is only a psych level correct? I do not see where on the weekly or monthly charts where 1.4 stopped and reversed any kind of big move up other than back in 1992 when price could not close above this level and started a move down over the next year. 1.4 somewhat kept a short move up contained and caused a reverse in the end of 2008 / early 2009. There is a monthly R1 level just before 1.4 but it has been some time since this price has really stopped an upmove other than back in 1992. If 1.4 does stop this move up the lowest I can see it going at this time is down to the 1.3300 - 1.3330 levels where the Mothly and weekly pivots currently reside. This level also provide strong resisance August of this year reversing the original upmove starting June of this year. Based on past currency patterns though barring some miraculous US economic recovery I can see the pair at least going to 1.4300 - 1.4350 or perhaps even retest the 1.5000 - 1.5030 levels before dropping back down below the 1.3 and 1.2 levels.

IMHO the pair will continue up further at least to 1.43 - 1.4530 before any significant move downs will commence. All of this could of course be way off base if something in the news is able to shift everyone's sentiment towards the USD or EUR.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 61 KB
Today's zone = Tomorrow's opportunity!
  • #299,810
  • Oct 2, 2010 2:28pm Oct 2, 2010 2:28pm
Quoting pres78
1.4 is only a psych level correct? I do not see where on the weekly or monthly charts where 1.4 stopped and reversed any kind of big move up other than back in 1992 when price could not close above this level and started a move down over the next year. 1.4 somewhat kept a short move up contained and caused a reverse in the end of 2008 / early 2009. There is a monthly R1 level just before 1.4 but it has been some time since this price has really stopped an upmove other than back in 1992. If 1.4 does stop this move up the lowest I can see it going...
major moves happen at these points------just above 1.60(6037), 1.50(1.5147) 1.40(?)

see a pattern?....there are huge resistances around these round numbers AFTER large run ups like weve just seen.
  • #299,811
  • Oct 2, 2010 2:36pm Oct 2, 2010 2:36pm
where, where, where...

backing to that post , this time I can add this picture.
Attached Image (click to enlarge)
Click to Enlarge Name: dxy.gif Size: 47 KB


if green line was valid, than may be we fall to red one, and if yes, than bulls will move price more higher on EU.
is nice to use $index as indi, only a question to pros, what of this two craps is more important (who drives who?) : DXY (USDX) or EU? this question is still open for me
No crystal ball. I read the cards.
  • #299,812
  • Oct 2, 2010 2:38pm Oct 2, 2010 2:38pm
Quoting mfoste1
major moves happen at these points------just above 1.60(6037), 1.50(1.5147) 1.40(?)

see a pattern?....there are huge resistances around these round numbers AFTER large run ups like weve just seen.
Agreed round number act as major psych's I just don't know if 1.4 will be enough to fully stop this up move. Based on the previous similar down up move I could see 1.4 stopping the move, a drop to 1.3 - 1.33 a bouce and a run up to 1.5 before commencing a full reverse back down below 1.3 towards 1.2.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 1.gif Size: 60 KB
Today's zone = Tomorrow's opportunity!
  • #299,813
  • Oct 2, 2010 2:39pm Oct 2, 2010 2:39pm
Quoting Jhig
Couldn't have said it better myself.

I've been 'forecasting' 1.38 all week just by looking at the longer term chart. Traders seem to forget theres more going on in the market than the '5 min'. EU ran for 1000 strong bullish ticks, with no retrace, and no one saw it. Traders were too busy calling tops.

Now that price has reached 1.38, I'm still looking for a push upwards to reach 1.40. Don't think retrace will happen until price makes 1.40 or near.

One retrace has happened, I believe price will fall all the way down to 1.30.

Attachment

With...
Guys, the chart I posted is how I see the market. My analytics isn't up for discussion.

I believe price will reach 1.40 and when it does, I'm expecting a very fast, strong upwards move. The signs are there.

Chart shows, price breaking through two minor level at 1.36 & 1.350. From there, the next major level is 1.40. At the moment, price is sitting in between levels.

For those of use that trade only price action, would have notice the Daily candle. A long candle with no wicks tells price action traders that Bulls are totally in control. There are no bears fighting that upwards move because if there were price would have closed lower and you'd see wicks at the top and bottom of that candle. Like in Spain, the Bulls are running.

For those of use that have been trading for a while will know, any price ending in triple digits (i.e. 1.5000) are super major level. The great thing about these super levels is, institutional players make it a game to reach that level. When the Banks starting playing their games, it usually a very fast, violent move to the nearest major level in sight.

Just saying, stop calling tops. Trade what you see as this is what I see. I will not be looking for shorts until that level is reached. With price so close to 1.4, I'll be looking to jump in after a small retrace at 1.38 and/or 1.39
  • #299,814
  • Oct 2, 2010 2:47pm Oct 2, 2010 2:47pm
http://news.yahoo.com/s/ap/us_europe_terror_threat

"Everything changes." - Heraclitus

The news that has not happened yet is not in your charts....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #299,815
  • Oct 2, 2010 2:49pm Oct 2, 2010 2:49pm
Quoting The Fool
http://news.yahoo.com/s/ap/us_europe_terror_threat

"Everything changes." - Heraclitus

The news that has not happened yet is not in your charts....
Interesting...
Today's zone = Tomorrow's opportunity!
  • #299,816
  • Oct 2, 2010 3:15pm Oct 2, 2010 3:15pm
while all looking at EU in standard view, I've got an idea to flip it vertically and watch nice eliot wave, almost classic, which mean - we are in correction. I completely agree with 1.4 or even 1.45 (if DXY will fall to the down TL)
Attached Image (click to enlarge)
Click to Enlarge Name: pic 2010-10-02 ? 21-47.png Size: 84 KB
No crystal ball. I read the cards.
  • #299,817
  • Oct 2, 2010 3:21pm Oct 2, 2010 3:21pm
USD is just going back to his normal trend... look at the 10 year DXY chart. I just see the USD continuing is downtrend

This is a 10 year weekly chart of the DXY
Attached Image
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #299,818
  • Oct 2, 2010 3:23pm Oct 2, 2010 3:23pm
honestly I would never believe anything over 3840 guy Once the market open ill start to short This euro
and On the break of 13500 Ill add more waiting the 12700
This is how i see it
see it with me and focus on this chart as the charts i posted before
Attached Image (click to enlarge)
Click to Enlarge Name: eur4h.gif Size: 26 KB
Senior Trader Multi-Account Manager
  • #299,819
  • Oct 2, 2010 3:24pm Oct 2, 2010 3:24pm
Quoting The Fool
http://news.yahoo.com/s/ap/us_europe_terror_threat

"Everything changes." - Heraclitus

The news that has not happened yet is not in your charts....
well, they're late. we had the news already in the course of the past week. it was stated that something "big" was planned with targets in Germany.
  • #299,820
  • Oct 2, 2010 3:24pm Oct 2, 2010 3:24pm
China's Wen offers to buy Greek debt

who can believe?
No crystal ball. I read the cards.
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