S&P has finally hit the 3 year highs for the first time in the rally since bouncing off the lows in March 09.
I have a major turning point coming up in mid to late october, if price rallies from here into that timeframe then the downmove could be quite devastating. If however price moves down into that timeframe then it should be a buying opportunity.
Please would you mind updating your view on euro dollar?
It opened below this week's 3-week midpoint of 2924 and has now traded to 5-day range low. For this new quarter, the 3-qarter midpoint is at 2795 and looks like the line in the sand for euro to resume up trend. For this month, the 3-monthly midpoint is at 2690. The worrying part for up trend is the yearly levels. I did some calculation and this year's 3-year midpoint is 3327 and it's the 2nd year that euro stays below 3-year midpoint. But I am new to Franks' method and don't know which timeframe should be considered as the main timeframe. On weekly(3-week) levels it's starting to look a bit bearish.
Joined Jun 2009
|
Status: Psalm 84: 10-12
|842 Posts
I expect higher prices in October.
..................................................
Thanks for posting Amy and Dan. I have been checking on EU some more. hope fully with my entry today PA continues in the correct direction.
I entered long at 1.2812. trade is doing fine thus far.
Please would you mind updating your view on euro dollar?
It opened below this week's 3-week midpoint of 2924 and has now traded to 5-day range low. For this new quarter, the 3-qarter midpoint is at 2795 and looks like the line in the sand for euro to resume up trend. For this month, the 3-monthly midpoint is at 2690. The worrying part for up trend is the yearly levels. I did some calculation and this year's 3-year midpoint is 3327 and it's the 2nd year that euro stays below 3-year midpoint. But I am new to Franks'...
Ignored
Hi Ss7225
I think that the uptrend is intact for eu at the moment, last quarter price bounced at the single period yearly lows (blue) and 3 quarter lows (yellow). I am confident in price continuing up in October and maybe early November.
But for now I am with you on the 3 week levels. I think price should hit the 3 week lows before it continues up, that could happen this week or next week, or maybe not at all.
As far as the overall trend goes, i think that once resistance is hit, price will continue down to make new lows.
I think that the uptrend is intact for eu at the moment, last quarter price bounced at the single period yearly lows (blue) and 3 quarter lows (yellow). I am confident in price continuing up in October and maybe early November.
But for now I am with you on the 3 week levels. I think price should hit the 3 week lows before it continues up, that could happen this week or next week, or maybe not at all.
As far as the overall trend goes, i think that once resistance is hit, price will continue down to make new lows.
Ignored
EU is coming down towards the 3 week lows, I'll be looking for reasons to long around 1.2785 area, if it gets that low this week. 1.35 is the target.
EU is coming down towards the 3 week lows, I'll be looking for reasons to long around 1.2785 area, if it gets that low this week. 1.35 is the target.
Ignored
Oh.. U trade this AMY..?? I thought u only use as lead for Aussie.. One shouldnt assume thou Shld they.. I did notice that big move up came off mthly and a couple of others base..I got somthing out of it.. not what i should have thou
Oh.. U trade this AMY..?? I thought u only use as lead for Aussie.. One shouldnt assume thou Shld they.. I did notice that big move up came off mthly and a couple of others base..I got somthing out of it.. not what i should have thou
Ignored
Do you mean euraud? I trade eurusd, but not usually euraud.
Here is a 4 hr shot.... notice u have 2571 and 2520ish.. both fit in blue squares i marked..50% and ext 161.8 and 618 and 200.. %MMM this thing sure trends.. got 50+ out of it oer nite
