- #680,883
- Aug 16, 2012 9:00am Aug 16, 2012 9:00am
- | Joined Jun 2012 | Status: Cogito ergo $um | 1,519 Posts
- #680,884
- Aug 16, 2012 9:02am Aug 16, 2012 9:02am
- | Joined Apr 2012 | Status: Trader | 1,823 Posts
Sometimes it's better to be wrong,to learn..
- #680,885
- Aug 16, 2012 9:02am Aug 16, 2012 9:02am
- | Membership Revoked | Joined Jul 2011 | 3,291 Posts
- #680,887
- Aug 16, 2012 9:06am Aug 16, 2012 9:06am
- | Joined Aug 2012 | Status: Trader, baker, candlestick maker! | 728 Posts
For what its worth....about 2 days back I posted a similar chart. Where your bottom circles are, is approximately the 50% line of all time Top to Bottom.
The problem is in the details...what was the environment like the previous times we reached these points? Its certainly different today, as now we have all the Fundies about Greece, Spain, Italy, etc...
Just the same - we also see US not really improving at all. The data suggests that things are in the US, but the employment #'s (both what is reported and what isn't (the real numbers)...
.With that said, if anyone has some strong points of view here, by all means please bring them to the table so I can have a better comprehension.
- #680,889
- Aug 16, 2012 9:12am Aug 16, 2012 9:12am
- Joined Dec 2011 | Status: Part-time Trader | 1,519 Posts
Work smarter,not harder
- #680,891
- Aug 16, 2012 9:18am Aug 16, 2012 9:18am
- | Membership Revoked | Joined Jul 2012 | 4,197 Posts
"It's the Margin, Stupid."
- #680,892
- Aug 16, 2012 9:22am Aug 16, 2012 9:22am
- Joined Dec 2011 | Status: Part-time Trader | 1,519 Posts
It's not a silly question and i understand your point of view. I have a wolfwave bullish pattern on monthly chart. But i think that only next year euro may get there.
Guys, maybe this is a silly question, but on monthly chart does anyone see the pattern, from 2008 August to 2010 August to 2012 August on EURUSD ?
I mean August 2008, first QE, August 2010 2nd QE and now the Euro is low for the last 2 years and again is August.
I don't want to mislead anyone or to say that it should go up. AGAIN i'm n0bish to forex so I don't want to do any harm.
P.S : Sorry for the awful chart is my 1st on this forum
Work smarter,not harder
- #680,893
- Aug 16, 2012 9:26am Aug 16, 2012 9:26am
- | Joined Feb 2008 | Status: Suffering from Casandra syndrome | 1,384 Posts
- #680,894
- Aug 16, 2012 9:26am Aug 16, 2012 9:26am
- | Membership Revoked | Joined Mar 2009 | 16,693 Posts
- #680,897
- Aug 16, 2012 9:31am Aug 16, 2012 9:31am
- | Membership Revoked | Joined Jul 2012 | 4,197 Posts
I really don't know how to read the market these days, I mean in one side we have the charts that you also posted but + the deep EU problems and on the other side I really don't know because in the same pattern I can add that the BRIC countries have made forex combo's from just dollars to dollars + EU a while ago AND also Venezuela who is a big OPEC country, so....
With that said, if anyone has some strong points of view here, by all means please bring them to the table so I can have a better comprehension.
Today , the range got narrowed a little bit between 1.22590 and 1.22850.
So, if you can't read the charts anymore or you have no idea what to do , take Comrade Attile advice :
"Draw three Lines at 1.22590 , 1.23550 and 1.23950 and you have got yourself a range. "
Resistance and supports should be : 1.22407 , 1.22590 , 1.22650 , 1.22850 , 1.22950 , 1.23007 , 1.23170 , 1.23250 , 1.23410 , 1.23550 , 1.23650, 1.23850 , 1.24007
The stuff in red you don't buy or sell at them, unless of course you know what you are doing. And the resistance and support numbers are mine not his - because we disagree on some numbers.
"It's the Margin, Stupid."
- #680,899
- Aug 16, 2012 9:36am Aug 16, 2012 9:36am
- | Joined Jun 2012 | Status: Cogito ergo $um | 1,519 Posts
