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07-08-2008, 05:56 PM
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euro support
At this time, there is no evidence that 15620 will go any time soon. In fact, the euro/dollar is respecting a longer term Gann angle currently residing at 15640, which is why it was supported earlier. Could be a spike down to that level or bit of to-and-fro and then up and away to 15820 - just a possibility.
update: definitely needs to come down to 15640 to be a good buy
Last edited by terton; 07-08-2008 at 09:34 PM..
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07-08-2008, 10:51 PM
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Join Date: Apr 2008
Posts: 1,654
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Preparing my regular lot limit buy @1.5555, SL tight at 1.552. 61.8% fibo is actually at 1.554, but sometimes price already bounce at 0.5 or 1.
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07-09-2008, 01:31 AM
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Join Date: Jul 2008
Posts: 28
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Hi.
Iran launch rocket. After this launch dollar fall.
What do you think about eurodollar today?
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07-09-2008, 03:20 AM
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Join Date: May 2008
Posts: 120
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Quote:
Originally Posted by fxaprendiz
Greetings, forex people!
"Be careful waiting for a big crab that may never materialize, you're risking to miss the real patterns already formed.
"There's a small crab-butterfly in the 5min charts. I call him that because the last D leg has the 3.618BC measurement characteristic of a crab; however, the point B has the 0.786XA fib. Technically speaking, a crab can not have a point B higher than 0.618XA, that's why the figure is labeled only as butterfly on the drawing.
"That butterfly is the right wing of a bigger Gartley in the 15min chart. You can see that for the points X and A of that figure I chose the extremes of yesterday's session. I recommend you to try to pick the highest high and the lowest low for those points whenever possible. That will increase your chances of drawing a valid pattern. While intermediate spikes can be used to adjust sometimes, it is always prudent to start with the extremes and then go down your way to the intermediate ones if you're not satisfied.
"Trade what you already see, not what you want to see. Be sure of what you see before trading. Listen to others, but maintain your resolution firm once you're sure you are right. Don't change outlook until proven positively wrong.
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Hey dude, thx for the advice and your kind thoughts. I haven't got much material on those harmonic patterns, so it proved REALLY helpful. I didn't know that a 0.5XA AB would actually qualify for a gartley for instance. Only trade what you see.. Yup got it 
The two patterns you drawed proved to be valid and brought the fiber all the way back to 1.5726. When looking at a chart without all the scetches a trendline with the recent two tops at 1.5752 and 1.5738 has formed which further explains the resistance.
Changed my perspective yesterday after your post, and went long at 1.5665 after i drawed the lines by myself. Unfortunately i was sleeping when another valid pattern completed its formation, a bearish bat with CD leg reaching exactly 0.886XA at 1.5726 from where it went down 45 pips. Got stopped out from my trailing stop on the long. Oh well 30 pip profit when sleeping. Thats ok.. 
Last edited by Salsaprince; 07-09-2008 at 03:35 AM..
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07-09-2008, 03:26 AM
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Join Date: Feb 2008
Posts: 522
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Duh
Lower higs, higher lows. Still not much going on. But the initial reaction to Iran's rocket launch proved that the USD will be under pressure in case of higher M/E tensions.
I am long here, again. For another try.
Stop loss at 1,5640 or so, we'll see. Upside: anything like 1,5730 looks just fine. But you never know.
Nice day, good luck.
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07-09-2008, 03:32 AM
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Technical Trader
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Join Date: Apr 2004
Posts: 1,942
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Quote:
Originally Posted by stryker
stops for my shorts now in gains at 5692.. GL ALL......
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well they got triggered as joining now and to be serious dont like this price action at the moment. will wait a while b4 jumping guns.........
GL ALL.........
__________________
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
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07-09-2008, 04:16 AM
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Join Date: Jun 2008
Posts: 9
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new to forex
Hi everyone, I am new to forex trading and I read about automatic forex traders or bots. Does this really work and if so can you recommend a good one to try? Any help would be greatly appreciated. Thanks and good luck
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07-09-2008, 04:26 AM
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Join Date: Mar 2008
Posts: 1,559
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Sofar the most boring European session I've seen for ages. Ever narrowing ranges so I wonder if a breakout is imminent?
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07-09-2008, 05:39 AM
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Join Date: May 2008
Posts: 120
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Bearish Bat formed in 1min chart. Be careful, as it might go a little further for resistance TL from earlier. Around 1.5721.
Also, bigger bullish pattern forming. But nothing out before i know for certain ;o)
/Salsa
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07-09-2008, 05:41 AM
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Join Date: Feb 2008
Posts: 522
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Silence of the FX
Quote:
Originally Posted by Guilder
Lower higs, higher lows. Still not much going on. But the initial reaction to Iran's rocket launch proved that the USD will be under pressure in case of higher M/E tensions.
I am long here, again. For another try.
Stop loss at 1,5640 or so, we'll see. Upside: anything like 1,5730 looks just fine. But you never know.
Nice day, good luck.
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I am out for a massive 35 pip gain. Some T/L resistance at 1,5720 so why not take the money and run. I have to go. Lunch has arrived. |
07-09-2008, 07:09 AM
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Join Date: Oct 2007
Posts: 153
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Back from vacation. No surprises from Euro since 2nd July...everything according to expectations..
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07-09-2008, 08:52 AM
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Join Date: Apr 2008
Posts: 1,654
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Just put a short at 1.5743, will hedge if price reaches 1.576
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07-09-2008, 08:52 AM
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Join Date: Feb 2008
Posts: 522
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Next resistance right here at 1,5743. After that 1,5765. Its alive! More or less.....
GL.
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07-09-2008, 09:39 AM
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Join Date: Jun 2008
Posts: 60
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200hour SMA resistance coming in at 1.5745..
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07-09-2008, 09:41 AM
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Join Date: Jun 2008
Posts: 20
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south
I think we are headed straight south, please see the attach classical bearish divergence.docment.
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