Who's know. But i think next week any retracement. Look at daily, price at resistance trendline confluence with fibo 50 (from high at 15 july 08)
We're at a pretty key spot right now. I'm attaching a weekly showing a strong resistance zone from 1.4167 to 1.4263; it's basically a Gartley res pattern centered on the 1.4234 .786 resistance from a larger high to low swing. If this can clear, it targets 1.5334, which is a pretty major commitment. So if this market isn't ready for that sort of upside we should see a struggle right around here. If you're not into Fibonacci, no need to open the chart just to criticize the concepts. They've served us well Mark
Nice one, agreed, my point just a bit higher too, but, it is HOW it's going to get there that makes things interesting... short 4140 futures, atm
No shorts there for me at the moment, it's just a danger spot in the way of additional longs. Heck I don't even see a break of any 60 minute support yet. Good luck with the trade though.
none of you play the short TF intraday ? like 1 min charts? that short was over 5 hours ago, what makes you think i meant i'm in for the long term? i've had several trades since then.
Oh, nothing wrong with shorter term at all. The original poster was talking about longer term targets, so the tone of the thread started off with a longer term perspective in mind. It was a logical assumption that other posts would be working along those lines unless otherwise stated. Glad it worked out for you. I used to do a heck of a lot of short term currency trading. Now I'm doing some other things short term during my regular trading hours, so my currency focus is longer term. Life changes make it more difficult for me to pull all nighters at this point. Happy trading!