key support level broken, what are odds to retest?

Discussion in 'Technical Analysis' started by Poole, Nov 25, 2007.

  1. Poole


    in my example, the USD index has broken through a multi decade floor of 80

    what are the odds if it say going back to 79 at some stage soon to retest the old floor of 80?

    Call me blindly optimistic, but I just think the chance is high, where is where I would ideally like to enter short USD
  2. Just be careful, there are so many issues the US faces right now
    M3 is screaming, we need and want rate cuts in the future and
    no fiscal responsibility right now.

    Put tight stops in and ask your self why are you taking this trade

    take a min to read "Catching Bottoms and Tops"

    Trading with the wind at your back is better than shoveling shit against the tide.

    Good Luck,

    Joe Baker

  3. Price movement is either penetration OR re-test (to varying degrees).

    We need and want rate cuts????????????????????????????

    Rates (a spectrum) are STILL at a generational low. As for cuts, IF you're referring to Fed Funds, that's moral suasion.

    As for M-3 screaming. I wanna know WHERE you're getting for figure. REALLY wanna know.

    I do concur with trading with the wind at your back.
  4. Just one more thing

    Rate cut .25 is going to do nothing for Economy
    however it gives people the feeling that the Fed is taking notice

    I also own a finance Co. so I do speak to many people every day
    and when the fed cuts rates, they have a better feeling about the future however, that is just what they tell me.

    One last thing YES we need cuts for the bond market to keep in an upward pace to keep rates at least where they are, we are in for the MOTHER of all Housing recessions, at least till 2010 I know we will not have a real recession because most cant remember 1988-1992 That was a doozie, I will never forget it.

    So cheer up, we can all trade better so we will not feel it as much as the rest of our peers

    Take Care,

    Joe Baker
  5. bighog

    bighog Guest


    Do not confuse TA with fundies. :D