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EURUSD

  • #491,481
  • Jul 17, 2011 9:13am Jul 17, 2011 9:13am
Im intrigued to know which direction EURUSD would take on asian open...
We live in a finite world with infinite possibilities.
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  • #491,482
  • Edited 9:50am Jul 17, 2011 9:24am | Edited 9:50am
fun way of learning some Forex concept.

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Mohan
  • #491,483
  • Edited 9:51am Jul 17, 2011 9:28am | Edited 9:51am
Quoting Raza
My Trade plan.

Risking on a buy with stop loss the size of potential gain from selling.

After $22 I may take the loss...or a little above the PREVIOUS high
Good chart but 4th retracement may have done already & if so 33.29 may take hard stop close price or 32.32 lowest limit . may not even that lows . continue more or less direct possible towards the top again.It is playing enough low after sudden fall & till then there long time .

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #491,484
  • Jul 17, 2011 9:52am Jul 17, 2011 9:52am
Hi! Fontu!

What your preview about euro next week?!!
when do you think euro will broke this bull flag!
  • #491,485
  • Jul 17, 2011 9:59am Jul 17, 2011 9:59am
letīs c
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  • #491,486
  • Jul 17, 2011 10:08am Jul 17, 2011 10:08am
Quoting Zink
Hi! Fontu!

What your preview about euro next week?!!
when do you think euro will broke this bull flag!
posted earlier , yesterday , possible . expecting 4374 test & breaks towards tl 4432 before a good fall & retest tl again & breaks 4470 , some bear may take place initially though Monday , perhaps limited.
No idea what fundies cooking any .
anyway anything can happen for currencies but bothl falling in a great race.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #491,487
  • Jul 17, 2011 11:31am Jul 17, 2011 11:31am
Quoting bguguen
Im intrigued to know which direction EURUSD would take on asian open...
UP... so says my crystal ball matey...

~f4e~
  • #491,488
  • Jul 17, 2011 11:40am Jul 17, 2011 11:40am
Quoting free4ever-sk
UP... so says my crystal ball matey...

~f4e~

Based on fridays sideways day it really is impossible to even guess!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #491,489
  • Jul 17, 2011 11:42am Jul 17, 2011 11:42am
Quoting Turveyd
Based on fridays sideways day it really is impossible to even guess!!
Not really...there are only 2 directions, so even a tossed coin could guess...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #491,490
  • Jul 17, 2011 11:43am Jul 17, 2011 11:43am
Quoting Turveyd
Based on fridays sideways day it really is impossible to even guess!!
skip when things are not clear.
  • #491,491
  • Jul 17, 2011 11:49am Jul 17, 2011 11:49am
im pretty sure that it will be 1.4200 or sum like that if not..take my hand
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #491,492
  • Jul 17, 2011 11:53am Jul 17, 2011 11:53am
Quoting Magix
Not really...there are only 2 directions, so even a tossed coin could guess...
i go with the third... edge ... or the 4th "edge leaning on wall"
those who can, do. those who cant, talk about those who can
  • #491,493
  • Jul 17, 2011 12:00pm Jul 17, 2011 12:00pm
[Please refer to the pictures which are attached]

There are two ways in which EURUSD could go: Either the first way or the second way as indicated on the chart. Fundamentally, with the EUROZONE debt troubles, EURO should be going down but on the chart, it looks like it might actually go up for a short while.

As far as I am concerned, the price movement seems to suggest that EURUSD might be going up rather than going down. Tomorrow we will have see whether or not EURUSD can break the downtrend resistance line.

A potential trade idea will look something like this. With the bias that EURUSD will go up, stop loss should be set under the red highlighted level and profit taking should occur at around the green highlighted level.

How I came up with the take profit level: in Gartley, there is something which is known as AB=CD. Simply, the length of AB should usually be equals to the length of CD. EURUSD retraced to the fibo 38.2% level and thus, according to this AB=CD pattern, it should be able to move upwards to the 138.2% Fibo Extension level.
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Click to Enlarge Name: 7-18-2011 12-37-11 AM eurusd d1 dont know up or down.png Size: 18 KB
  • #491,494
  • Jul 17, 2011 12:04pm Jul 17, 2011 12:04pm
Hello all my lovely little song birds... how was everyone's weekend?
  • #491,495
  • Jul 17, 2011 12:06pm Jul 17, 2011 12:06pm
Quoting Turveyd
Based on fridays sideways day it really is impossible to even guess!!
Hardly. Signs are in place to tell exactly where we are headed. The better question is... is the market following the road signs correctly? That has yet to be decided... but I believe it's turn signals are on and it's ready to move where it needs to go.

Did we all already forget about the massive bull candle last week? The retrace thus far has been pretty much text book, and I know where I am risking my pips this week.

  • #491,496
  • Jul 17, 2011 12:09pm Jul 17, 2011 12:09pm
Quoting Venice
Hardly. Signs are in place to tell exactly where we are headed. The better question is... is the market following the road signs correctly? That has yet to be decided... but I believe it's turn signals are on and it's ready to move where it needs to go.

Did we all already forget about the massive bull candle last week? The retrace thus far has been pretty much text book, and I know where I am risking my pips this week.

i don't have that candle. could you post a chart?
those who can, do. those who cant, talk about those who can
  • #491,497
  • Jul 17, 2011 12:11pm Jul 17, 2011 12:11pm
Quoting Venice
Hardly. Signs are in place to tell exactly where we are headed. The better question is... is the market following the road signs correctly? That has yet to be decided... but I believe it's turn signals are on and it's ready to move where it needs to go.

Did we all already forget about the massive bull candle last week? The retrace thus far has been pretty much text book, and I know where I am risking my pips this week.


Friday closed 1/2 way ish between it's range after bouncing around nicely right on my trend ma which is flat pretty much to. M15 based.

If you go out to M30, same, H1 then down and down after that.


Hmmmm upto near 4200 then down would be my call!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #491,498
  • Jul 17, 2011 12:14pm Jul 17, 2011 12:14pm
Quoting Venice
The retrace thus far has been pretty much text book, and I know where I am risking my pips this week.
About the only thing clear and text book is that the breakout has been retraced back to demand...from here, all we really know that as current support is holding, what will happen on the retest of supply?

The start of the week if plays off continuation from Friday should run with the bulls, from there...cripes who knows...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #491,499
  • Jul 17, 2011 12:15pm Jul 17, 2011 12:15pm
Quoting Venice
Hardly. Signs are in place to tell exactly where we are headed. The better question is... is the market following the road signs correctly? That has yet to be decided... but I believe it's turn signals are on and it's ready to move where it needs to go.

Did we all already forget about the massive bull candle last week? The retrace thus far has been pretty much text book, and I know where I am risking my pips this week.


And no candle historically has any influence on future events, any success with this method is entirely coincidental and therefore pointless to base a real trade on.

Just proves at that time and at that time only, there where buyers and no sellers or vice versa.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #491,500
  • Jul 17, 2011 12:18pm Jul 17, 2011 12:18pm
Quoting Magix
About the only thing clear and text book is that the breakout has been retraced back to demand...from here, all we really know that as current support is holding, what will happen on the retest of supply?

The start of the week if plays off continuation from Friday should run with the bulls, from there...cripes who knows...
Also, 50% retrace of up move. euro loves it's 50%'s.

But yes, only thing that could keep us from shoving higher is demand turned supply, which we are smack dab in the middle of, and I will just say coincidently to avoid me going on another conspiracy tangent, that this is what caused us to consolidate rather then crap news.

So I guess the question becomes. Have we pushed high enough to turn this Demand turned supply back into demand or does supply still hold the powa?
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