Here is the view.
Be aware of false break of trendlines, specially at the 3280 level
Be aware of false break of trendlines, specially at the 3280 level
Attached Image (click to enlarge)
- #1,083
- Oct 4, 2011 1:36pm Oct 4, 2011 1:36pm
- Joined Dec 2009 | Status: Trader | 2,319 Posts
Right now I am waiting on confirmation on how the 3220 level will react. If it acts as a support, then that is another plus for going long. But dont hold your shorts beyond 3220 at the moment.
So far I am flat and waiting for either a second low or see how 3220 will go for now before going on a buy.
So far I am flat and waiting for either a second low or see how 3220 will go for now before going on a buy.
My brother Kambooj thanks...thanks...
- #1,084
- Oct 4, 2011 2:07pm Oct 4, 2011 2:07pm
- | Commercial User | Joined Nov 2006 | 1,013 Posts
"One Grows Tall After Walking Through A Forest Of Tall Trees."
- #1,091
- Oct 5, 2011 1:21pm Oct 5, 2011 1:21pm
- Joined Apr 2008 | Status: Trader | 9,414 Posts
Be carefull with going long at 3380 zone. Its around multiple resistance spots.
Wait a bit to see what the market will do, instead of going long at that level.
There will b pull back no rush
PS:IF 30 MIN Close above 3375 NO pull back it became support
- #1,092
- Oct 5, 2011 1:29pm Oct 5, 2011 1:29pm
- Joined Dec 2009 | Status: Trader | 2,319 Posts
The way I see it, is that because of the speed of ascend to 3370 region, it will have a hard time becoming support.
Would have said otherwise if it would have stuck to the inside perimeter of the circles I drew earlier:
http://www.forexfactory.com/showthre...24#post5015124
But lets see
Would have said otherwise if it would have stuck to the inside perimeter of the circles I drew earlier:
http://www.forexfactory.com/showthre...24#post5015124
But lets see
3370 here , 30 MIN TF
There will b pull back no rush
PS:IF 30 MIN Close above 3375 NO pull back it became support
- #1,093
- Oct 5, 2011 1:30pm Oct 5, 2011 1:30pm
- Joined Dec 2009 | Status: Trader | 2,319 Posts
The pole break of the top circle is not easy either, thats another dilema that price action will face.
The way I see it, is that because of the speed of ascend to 3370 region, it will have a hard time becoming support.
Would have said otherwise if it would have stuck to the inside perimeter of the circles I drew earlier:
http://www.forexfactory.com/showthre...24#post5015124
But lets see
- #1,094
- Oct 5, 2011 1:31pm Oct 5, 2011 1:31pm
- Joined Apr 2008 | Status: Trader | 9,414 Posts
3370 here , 30 MIN TF
There will b pull back no rush
PS:IF 30 MIN Close above 3375 NO pull back it became support
- #1,099
- Edited 3:09am Oct 6, 2011 2:51am | Edited 3:09am
- Joined Sep 2008 | Status: hardcore chartist | 2,173 Posts
Waiting for a breakout of 3310 for a sell or a rise to 3420 for a sell is the best strategy right now. its a bit risky to go for a buy or a sell at current market price before the openning of the EUR session in few hours time.
your chart's lowest circle looks nicely-formed, so I thought I'd figure for myself why you chose a possible down move. (And it resembles an earlier chart of mine here.)
I'm not sure if A1 needs to be an ellipse; maybe a circle would be better -- oh wait, I see posts 1087,9. Okay, it's close; point is, I just am seeing pivots for A1 that are about as good as your circle at A2.
I don't really see a lot of large, trendline (pivot-touching) circles on the 1'TF, just so it is good practice to study your charts. And, I'm not as sure about circles, at least in this chart, so I chose this simpler definition of a circle and added non-circle stuff.
