I see the next support at 1.3787 and then at yesterday's bottom 1.3732. I think that this level would be reflected until the publication of data from the U.S..
Thank you for replay. Yesterday I was unable to replay. So thanks we went from the tops. It is to early to say that we reversed. But my 2 cents results today news will be better than expected. I do not know the methodology, but seems that weak dollar will ad some decimals for gdp
No probs.........
well shorts turned out well and i had decent lots and covered all but a loner now and if we can break lower to 3810 we could see it testing 3760-65..
GL...
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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And Bounce it Did..for now - A relief rally as GDP did not print negative. A victory for the bulls.
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Today's call that price would fall down to 1,3810 was spot on. The correction up to circa 1,3900 has also been in line with today's analysis. We are now expecting EUR/USD to create a lower or double top in the heights of 1,3950. Yet the EUR/USD is quite strong right now and RSI has not reached overbought levels in the 30 min chart. We can also see in the 5 min chart that price is creating higher lows and higher tops. Its first when we see a change of trend in the 5 min chart i.e. price creating at least a lower low before we can say with higher certainty that price will reach 1,38 once again. See 5 min chart for example.
EUR/USD 30 min
EUR/USD 5 min
Last edited by Alejandro Zambrano; 10-29-2010 at 09:08 AM.
Net gain of 88 pips scalping it. (I think thats what you'd call it.)
For me I have to be working the chart, I can't just sit back and hope for the best. Like I did yesterday when I got stopped out with needle like precision to the decimal place of a pip!
Good luck to all for the remainder of the day and a nice weekend.
and btw. thanks to all contributors esp. Alejandro, good calls!
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