Euro/$---GBP/$ Where now?

[User]

darrenf, I mainly use daily bars to look at trades.

Jpwone your post made me laugh! :cheesy:
Don't kick yourself, you'll be alright.

Hang on in there everyone, interestingly, 127 is the 38% retracement of the 1.2382-1.2926 rise.

Its holding for now, hope it don't decline further past it.

If it holds just as it did on Fridays panick sell-of, then 130-here we come!

 

[Buk]

this move has shaken out a few stops on the trip south. looks as though the med term positional guy's have banked more profits from the Nov 6600 & Feb 7800 moves....if this 'resting' point holds (with further short term supp at 8815 & 8730), then we head back for a re - test.....longs with a tight entry stop at this juncture, could see a nice pop up providing no 'surprise news' spooks the bulls!..........

 

[Buk]

the 'resting point' appears to have contained the pullback from yesterday's high's. Attempting to keep it simple, the action area on the upside should spark from the breach of the 8940 trendline channel.....a kick up away from the 38% Fib from yesterday's range at 8953 shouls confirm a move higher imo.....a break down thru 8870 may put a cap on the upside, lets see if the bulls can crank it back for test!!.......

good luck today!

ps: apologies to all for the manic "squinting" on the attachment, I've received assistance regards the posting of charts (he exhales)....so hopefully they won't send you dashing for the headache pills/opticians!!!......

 

[darrenf]

Double top on eur/usd?

 

[DaxTrader]

bit early to be calling a double top

went home at 5pm, can't beleive how much it dropped after that

 

[Buk]

tester!!......just playin with uploading lark....

chart update on the mornings action so far.....the 8940 topside channel is still containing any moves back up, and thus far downward momentum is supported by the 8870 line. I guess we're in for some consolidation/range trading until direction is dictated once more.

 

[darrenf]

looking good but try reducing the window size before capturing the image. This will avoid having to scroll left and right to view it (and all the other posts on the same page). Did you save as .png?

 

[Buk]

yup....saved as png. Sorry guy's for the page disruption!!.... ......is reducing window size executed before I copy it into paint??.....if so how??

eweeee, where's that damned College course brochure disappeared to....I'm sure I spotted an 'idiots comp basics' class in there.........

 

[darrenf]

No prob about chart size. We'll be onto another page before you know it anyway!

Yes- reduce window size on screen before capturing the image.
Just click the reduce window icon in the top right of the window (between minimize and close).

Then, just place the cursor on the edge of the window and you should be able to adjust width, height to your hearts content.

Then do alt and print screen to capture the window image (using alt and print screen together will cut out whatever is behind the reduced sized window and just capture the chart window itself)

 

[Buk]

doh!!!....... .....tenners on it's way D!!

 

[darrenf]

just one other thing which I've just realised I've not done myself

In paint, before you paste your image, select image from the top bar, then attributes and alter the resolution to something like 700 x 400 pixels. This will avoid getting the white square to the right (and widening the image) as per my previous post.

 

[nickerson334]

Looks liek a double bottom to me from 01/05.

Target 1.3450

 

[darrenf]

eur/usd just took out yesterdays low.

sign of more downside to come imo

 

[Buk]

2650 needs to hold up that's for sure....as does 8850, or we could be in for a cracker or two!

 

[User]

Hiya Nickerson, how’s your trading going? A few VoLaTiLe days! It needs to hold on to 12670 then further key support at 12650! It went down yesterday with exaggeration due to bulk stop-losses being triggered and Chirac nonsense. Today started of well it was holding at 127 but the American job figures were better which is pulling it down currently.

I’m holding my positions although they're running into losses. Don't panic people, we're just relaxing. Although my currency positions are not settled, I've managed to more then balance the books by good gains in Nasdaq100, S&P, Dow, FTSE100, Nikkei and stocks.

Note: If you want to succeed in the forex markets you need b***s of STEEL and we're still holding onto ours. 130+ here we come.

What’s your target plans suggesting Nickerson? Which way are you going?

As I write we see the euro climbing above 127, what strength shown, we stick with all our previous views and targets posted on this thread. Don’t panic hold on to your guns and lets fire this b***h above 130 then lets see what ECB says.

 

[Buk]

anyone take that short thru the btm of the 15 min channel??....toying with short term support at 8840, needs to crank up otherwise next kick down looks like 8735!....Fomc chiefs speaking later on & CPI numbers out at 1.30.....interestin day ahead.....

 

[nickerson334]

Hi User

Been away for a few days. Bought the USDCAD up 125 points earlier in the week with OCO orders but apart from that I havn't had a good look yet.

E/$, Could be a pullback to 1.2350 but at the moment I'm mroe inclined to think it's a double bottom targetting 1.3500.

Bought this morning on a bounce off support at 640 targetting 700. Very tight stop though!

 

[DaxTrader]

EUR USD

on the hourlies chart the 3 lower lows of the last 3 days ,particulary with the move through the line of the lows before bouncing a little this morning, make a bullish looking wolf wave pattern providing it doesn't go much lower here, retest of highs possible target.

 

[nickerson334]

"Markets can be beaten, but not all the time"

Yeah, I think people tend to forget sometimes that the market is a group of individual traders like you and I doing business to the best of our abilities.

There is no THE MARKET or "The Markets a shark that goes which ever way it wants".

It goes the way the majority of individual traders investments want it to go.

I always try to look at it like that as there's a lot of intimidating bs about the nature of THE MARKET!

p.s. certainly not including you in that category DT!

 

[Buk]

hmmmm, 30 odd pips away from a 38% Fib (8637) from from Jan up move!....maybe a resting stop for a direction assessment??