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Circular Trendlines

  • #2,401
  • Mar 17, 2013 4:12pm Mar 17, 2013 4:12pm
EUR Update

A very strong 200 pip drop on the openning of the EUR session has prevented the pursuit of this pair towards 3150. The current sentiment is bearish and towards the lows of 2600 where the region in red is shown. The center of the blue circle where resistance was being witnessed has not held its ground for more upward movement since Friday of last week and the size of this drop is not something that can be mistaken for a double bottom. This is the start of a new series of drops towards the lows of 2600
Attached Image (click to enlarge)
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  • #2,402
  • Mar 18, 2013 8:35am Mar 18, 2013 8:35am
EUR/USD Outlook

This pair is not at a major turning zone to switch directions for higher up. 2 Long term primary targets of 2175 and 1700 are very likely possibilities if movement cannot sustain itself above 3000, which at this point has not and 2970 has been the resistance so far.

Looking for a interim support of 2600 (According to the previous post) to materialize within the next few weeks.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Monthly.jpg Size: 156 KB
  • #2,403
  • Mar 18, 2013 11:16am Mar 18, 2013 11:16am
Kambooj, do you have any current setups using the "Star of David" drawing?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #2,404
  • Mar 18, 2013 12:02pm Mar 18, 2013 12:02pm
Havent used it for a while, but thanks for reminding and I will do a post sometime within the next 24 hours using it.


Quoting kapital
Kambooj, do you have any current setups using the "Star of David" drawing?
  • #2,405
  • Mar 25, 2013 6:29am Mar 25, 2013 6:29am
EUR/USD Outlook

The RSI on the daily chart needs to break through the T1 trendline to establish a uptrend. Last weeks surge to 3050 had established the initial momentum that was needed to start a retracement. Unfortunately with this pair not being able to sustain itself above 3000, it will be very likely that a alternate support will be found from which a movement upwards will start to happen. This brings us back to the territory of the lows of 2600, which the only way that it can be reached is throuhg a strong surge downwards. We are at the point of a strong move on this pair. Many attempts were made last week to push this pair from the vicinity of 2880-2900 towards the 3000 level, and these attempts did succeed. As long as this pair maintains itself below 3000, chances of another surge downwards is strong.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD_H8.jpg Size: 171 KB
Click to Enlarge Name: EURUSD_Daily.jpg Size: 170 KB
  • #2,406
  • Mar 25, 2013 6:43am Mar 25, 2013 6:43am
EUR Update

Strong spike downwards and a breach of the 2850 low is the most probable outcome at this moment, despite the oversold condition that is shown by the daily RSI.
Attached Image (click to enlarge)
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  • #2,407
  • Mar 25, 2013 6:53am Mar 25, 2013 6:53am
EUR Alternate View from a different Start of David, using the Fibonacci Line Analyzer tool
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_H8.jpg Size: 171 KB
  • #2,408
  • Mar 25, 2013 9:35am Mar 25, 2013 9:35am
Quoting Kambooj
EUR Alternate View from a different Start of David, using the Fibonacci Line Analyzer tool
  • #2,409
  • Mar 25, 2013 10:31am Mar 25, 2013 10:31am
Thanks,
Will try to post more timelines using different tools
Quoting egkid
  • #2,410
  • Mar 25, 2013 10:32am Mar 25, 2013 10:32am
EUR Update

Avoid shorting at 2850 till the end of day. Here is why:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Daily.jpg Size: 154 KB
  • #2,411
  • Apr 2, 2013 7:25am Apr 2, 2013 7:25am
EUR/USD Outlook

Since the requirement for a turnaround is a spike down and after numerous attempts of this pair to make its headway above 2900 without much success, the path of least resistance would be to make a new low and see whether at the new low there is enough buying power to move upwards. Most probably we are looking towards the lows of 2700 for another attempt upwards
Attached Image (click to enlarge)
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  • #2,412
  • Edited 9:06am Apr 4, 2013 6:32am | Edited 9:06am
EUR/USD Outlook

It was mentioned before in the following post:

http://www.forexfactory.com/showthre...35#post6565835

that as long as a spike downwards is not seen, no reversal in direction should be expected. This morning spike towards 2743 and the rebound following it is a strong sign of what we expected. The pair is at the grey zone of the dotted black circle and from the spike, the grey zone is offering some support. We should be seeing a break through the pole of the blue circle coming our way within the next 24 hour. Most probable resistance at this point is 2950.

The spike has not gone to 2700 region, but the rebound off 2743 is strong enough to be considered as a sign of shifting of a trend
Attached Image (click to enlarge)
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  • #2,413
  • Apr 4, 2013 9:24am Apr 4, 2013 9:24am
Quoting Kambooj
It was mentioned before in the following post: http://www.forexfactory.com/showthre...35#post6565835 that as long as a spike downwards is not seen, no reversal in direction should be expected. This morning spike towards 2743 and the rebound following it is a strong sign of what we expected. The pair is at the grey zone of the dotted black circle and from the spike, the grey zone is offering some support. We should be seeing a break through the pole of the blue circle coming our way within the next 24 hour. Most probable resistance at...

was waiting it since yesterday close but going under 28 made me close one of my long
very tricky and 50% 50% no strong signal for weeks make me sick from the market
  • #2,414
  • Apr 4, 2013 11:15am Apr 4, 2013 11:15am
Usually when a market stalls, which in this case it was stalling since march 27th we get mixed emotions. Full moon was march 27th, and in a downtrend, the full moon marks a relative high, nothing really happened on the full moon, and I was wondering whether we might get anything around the first quarter of the moon which was april 3rd, yesterday.

I had kept my eyes on the daily RSI, and usually on the second or third dip after a low has been hit, a new trend starts, but in this case nothing was happening, so this morning I thought that what I thought was the second dip, was not really a second dip and a lower low was in effect. A lower low was in effect, but didnt affect the daily RSI that much and after the rebound to 2790 from 2743 I thought thats it, and I posted my forecast.

I was waiting myself on this bounce too, and had few buy orders at 2830 with a target of 2920 hanging for about 10 days now. It finally made it to the target today.

Quoting egkid
was waiting it since yesterday close but going under 28 made me close one of my long very tricky and 50% 50% no strong signal for weeks make me sick from the market
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Daily_RSI.jpg Size: 148 KB
  • #2,415
  • Apr 8, 2013 6:18am Apr 8, 2013 6:18am
EUR/USD Outlook

A bullish trend is still in play till the highs of 3090. Low risk buy level is around 2980-2990 zones. 3020 levels are also good buy positions but with smaller lot sizes.

Here is the graphical view:
Attached Image (click to enlarge)
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  • #2,416
  • Apr 10, 2013 6:20am Apr 10, 2013 6:20am
EUR Update

Today is the new moon. Statistically its 80% chance of a strong sell happening within the next 24 hours. Will post charts later in an hour or so.
  • #2,417
  • Apr 10, 2013 9:40am Apr 10, 2013 9:40am
Quoting Kambooj
EUR Update Today is the new moon. Statistically its 80% chance of a strong sell happening within the next 24 hours. Will post charts later in an hour or so.
why u say strong sell not buy?

i think 50% 50% buy sell
  • #2,418
  • Apr 10, 2013 11:54am Apr 10, 2013 11:54am
EUR/USD Outlook

H2
On this chart we have hit a temporary resistance at the 3123 level. Current rebound is not strong enough to create a shift in direction on the daily chart. A come back to the 2970 level where the first sustainable support was felt is a high possibility given the fact that we are overbought on the RSI on the H4 chart.

M30
On this time frame the primary line of motion, being the red line is broken and price action is aiming for the lower blue trendline. This area is roughly around the 3000 level. Although we can have a false break of this line and have price action go to the double lows of 2966 that occured between April 5-8
Attached Image (click to enlarge)
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Attached Image
  • #2,419
  • Apr 10, 2013 11:57am Apr 10, 2013 11:57am
Yes, a dip to the 3000 level on a temporary basis, the pair has not had a strong spike up for a change in direction on the daily time frame, but will have a retracement till 2970 level. That is as far as I can see.

Although on the daily time frame the way that this movement has gone up has left a third leg missing. I am hesitant to say that for sure we will dip again below 2730 right now, but a third leg is missing. Its too early to say anything or make any claims but we have to wait to see what happens after 2970

I had to wait a bit till this afternoon to post my charts, since not much was happening in the morning after 10:30, but I see continuation of a down trend for now.

Quoting egkid
why u say strong sell not buy? i think 50% 50% buy sell
  • #2,420
  • Apr 11, 2013 6:34am Apr 11, 2013 6:34am
EUR/USD Outlook

The selloff to the 3000 level talked about yesterday is in its beginning stages of happening at the moment.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD_M15.jpg Size: 95 KB
Click to Enlarge Name: EURUSD_M30.jpg Size: 133 KB
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