Sep 1 - EURUSD, 2-day run is threatening the resistance zone.

Discussion in 'Technical Analysis' started by roclerman, Sep 2, 2005.

  1. Sep 1 - EURUSD, 2-day run is threatening the resistance zone.

    The huge run we are watching right now on EUR-USD (started yesterday on the american morning) is really threatening the prior resistance zone on 1.2475/85/90 and opening the possibility of a new bull trend.

    Like im talking on the charts the run was so impulsive that we must think about a III or C wave taking place here. In case of a major break-up on the 1.25 zone we could be heading to levels near the prior break zone (on the way down on may) near the 1.275/28. If we are in a C corrective wave (is hard to believe now but, of course we have to think in that as a chance) we could see the run end near this zone or .5 pips above this zone.

    In all the cases i prefer to trade long (with the inmediate trend) in a correction (may be the 1.242/30 area) than a contrarian short here (even with the intraday charts showing some correction as possible). Anyway, reckless traders could short here with stops above 1.2475 or 1.249, with the 1.2505 as key level to end any short biases.

    A major break of the 1.249 zone, i think, will set the euro in a new range in shor-term, i think a break of this zone will place the euro in a 1.235/275 new range in mid-term parameters.

    Diego M Rolando, Sep-1-2005, half-session comment
    anlysis with charts at
  2. thats great. but take a position and post it here, otherwise you'll be like all those analysts who talk both ways.
  3. But sunny.....then he could be wrong?

  4. Ya know, sometimes people just post to stir conversation. Can't we all be a little less pissy when someone posts a decent conversational thread?
  5. come on, Ivan. just because you been losing your @$$ doesn't mean you need to start bitchin at everyone.

    you're still a good trader. It's just that, better traders take your money!

    got to learn how to take your losses along with those wins, bro! :D
  6. I'll go long a 1.242/30 and with .2 stop for 1 to 1.5 point target.

    But, what can i do if the product didn't reach my price, im not going to take a position in the market because im boring and i need some action, or that's the way your trading??

  7. ok he took a position. good man :)