I still need to see the top side of the ICH D1 cloud tagged at ~1.3257 and then move south. Got a SL/DL ICH crossover on the H1 2 hours a go, but will it hold?
I still need to see the top side of the ICH D1 cloud tagged at ~1.3257 and then move south. Got a SL/DL ICH crossover on the H1 2 hours a go, but will it hold?
to me if we break 1.3251 and closes above 1.3251 on weekly candle then "no south" till 1.3474
this is only the matter of time; the weekly down trend lines are delaying the prices to go higher, i need a close above 1.3251 on weekly candle and i suspect this might be the week!
Whack both upper and lower bands to confuse the issue, then sneak in the rally.
That was 5 waves down from the day's high which makes it an impulsive - either a wave 1 of something or perhaps a C wave in an expanded flat correction - perhaps the 4th out of 5 in the Z wave. Doesn't really help us conclude much in such a tight daily range other than this wave is using up time going no-where slowly. Until the high is taken out, I have to conclude we have turned down but I, like the other side of the fence, could do with some proper proof! What a day.
That was 5 waves down from the day's high which makes it an impulsive - either a wave 1 of something or perhaps a C wave in an expanded flat correction - perhaps the 4th out of 5 in the Z wave. Doesn't really help us conclude much in such a tight daily range other than this wave is using up time going no-where slowly. Until the high is taken out, I have to conclude we have turned down but I, like the other side of the fence, could do with some proper proof! What a day.
hi again Clive!
the traders who are bullish are getting excited here, the 1.3183 number needed to be tested once again at least for sure if its going up, tomorrow i speculate that prices will come down to 1.3183 and test this number if found support then bulls are taking the ground for sure, just keep in mind this number 1.3183
Hi Robert - you're sooo knowledgeable about the situation in Europe. It's great that I know you through this forum. I think that I will definitely be able to learn from so many super traders here. Best regards and many thanks. Eric
Unfortunately this knowledge has not translated into accurate market forecasts! On March 14 when it went down to about 1.30 I shorted hard, just before it zoomed. I kept the shorts in for a week and a half hoping it would turn the right way, never did (still hasn't). When I started trying this (friends told me I might be good at it) I said I could afford to throw away $500 as "tuition" money (understanding of course that newbies always get burned before they get the hang of it). I lost $400 on the EUR/USD in March before I understood where all the mystery buyers were, but made about $75 on other pairs. For April I am down $90 so far, an improvement but it remains to be seen whether I will learn to make profits before I hit the net negative $500 where my resolve is to call it a bad deal and give it up.
I have often said on this board that the EUR/USD is acting more like a "tulip mania" than a rational market. I do see that large institutional buyers are propping it up, and traders have to react to what the market is actually doing rather than what it "should" do, but it still makes little sense to me why those big players are sinking money into what looks like a long-term loser. The purchase price parity (PPP) of the euro is $1.11; major currencies tend to be overvalued as overseas investors park money in "reserve" in safer currencies than their own (the dollar is always overvalued too), but this overvaluation seems very excessive, and keeps dragging down all the weaker European economies. If it keeps going, the possibilities that the stronger economies will get dragged down too, that the weaker economies will start to have political upheavals, and/or that the eurozone will have to suddenly break up in a messy fashion all look serious to me, and to a lot of people. Yet-- it keeps going. Next week, my gut feeling is that there will finally be a sharp break down, but I have been very wrong before.
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Originally Posted by turmaz 
