A Very Interesting Chart Nearing a Few Year High.

Discussion in 'Technical Analysis' started by Bullz n Bearz, Aug 31, 2007.

  1. Check out the Euro guys..

    This could be an amazing oppurtunity to make money I just need your opinions on the level price that the Euro is at currently. It seems to be at resistance. Could this be a good chance in your eyes that we will see a bounceoff from resistance? Or a breakthrough?

    Chart of the EUR/USD:
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  2. Euro chart that goes beyond time that it actually came to existence important enough....interesting....
  3. Lucrum


    Shouldn't you be telling us?
  4. Excuse me? Could you please speak in a language I understand :)
  5. I do not forsee into the future. I have a hunch we will see a bounce off resistance but I want to see what other people's views are to see if mine stacks up.
  6. This is the most amazing thing I have ever seen! I predict that it will go sideway to infinity.
  7. RL8093


    Playing breakouts is a trading skill, like many others, that is honed through study and practice. Unprepared players often get left behind or whipsawed.

    Asking for opinions on which way it will go is akin to asking whether you should bet on red or black in roulette. I suspect that you'll have a similar degree of success in both endeavors with this methodology....

  8. He's saying that there was no such thing as the Euro currency back in the 1990's, so how could there be a chart showing Euro prices back then?

    The answer: I think they calculated the price by combining data from all the different extinct European currencies that went on to form the Euro.
  9. Is it a "cup and handle formation"?

    If so.... edge for up move
  10. Brandonf

    Brandonf ET Sponsor

    Generally speaking I think that the third time is the charm. If you look at many many many charts you will see that the third time a stock, commodity or whatever hits a certain price point it almost always breaks that level, and can often do so strongly. I think you are correct long term about the Euro for the fundamental reasons I mentioned in your other thread, but at this point the technicals point to a move higher. You should wait until both line up, and also market tone..so you want to have three things in your favor to put on a big long term position. Technicals, Fundamentals and Tone. This has been, at least for me, the ticket to success.
    #10     Aug 31, 2007