2-23 ASIAN/EURO SESSION I am still long at 1.1930. I had a 50 point profit in the trade until the bottom (or top) fell out. I will let things unwind a bit here this evening and take a look a little later. EC FUTURES Current Price = 1.1928 T2 - 1.1992-1.1996 [Strong Resistance] T1 - 1961 EBB TIDE = 1.1929 Long Above/Short Below T1 - 1.1898 - 1.1902 T2 - 1.1867 __________________________________________ EURUSD Current Price = 1.1916 T2 - 1.1976 - 1.1979 [VERY STRONG RESISTANCE!!] T1 - 1.1947 EBB Tide = 1.1912 T1 - 1.1883-90 T2 - 1.1864 [Strong Support]
2-23 ASIAN/EURO Session USDJPY Current Price 117.06 I think price will move down to 116.89. This is strong and could hold. It is a good decision point to go long on the bounce or short on the break thru and pullback. T1 = 117.57-64 [Very Strong Resistance] Ebb Tide = 116.89 Long Above / Short Below T1 = 116.18 [Very Strong] Take Care (Sinanora) DRT
USDJPY USD headed down here?? This regression channel connects the 1995 low and the 2005 low. 11 years of longs and shorts, not to mention BOJ crisis somewhere.
here we are ... i've just changed my stop: @1952 for the first half and @1982 for the second one. still it hasn't closed below the 1920-15 level on hourly basis ... tomorrow i'll get a very busy day, so i hope that tonight will clarify the short term trend. ciao ps: just a positive note on my downside-sideway view: yet again it hasn't been able to close above the SMA100.
EURUSD Regression Channels connecting the 1998 high and the Dec 2004 high. A few years of longs and shorts. Where were you when the EURO launched? Hopefully not long. I think I see the 110 level to the downside, but when you look at this one...you can sort of see a bounce on the regression line and maybe a little bump upward. Stay tuned for another chart in five years or so.
That chart I posted look like a double bottom on the yen and if we can break up .8595 and hold, I think there is some upside potenital. I locked in 10 pips on one of my YEN short today and the other one is still short from .8533. It is not looking good however. Regards, Steve
First let me say I thoroughly enjoy this thread and the many excellent contributions. Personally, I have never had any success looking at indicators and trying to predict what price will do 5 minutes from now forget about tomorrow or next week. Trying to predict price has cost me dearly in the past. Thanks to a superb mentor and teacher, I have learned to analyze price, react to it, and enter trades in low risk situations such as the one that presented itself on this morning's chart (attached). Price made a higher high at 1.1980 and on the next cycle could only manage a lower high of 1.1978. To my way of thinking, a short below 1.1978 made perfect sense. The big boys and girls, regardless of their inclination, could not move price to the previous high of 1.1980. The stop from my entry was 5 ticks i.e. if the gremlins decided to surpass the old high, I would be out with a small loss and awaiting the next setup. No panic if the trade didn't work out - but it did for a nice profit as you can see. Just my way of looking at the EURO and I hope some may find it useful. Congratulations on a great thread.
Nice looking chart here and a well thought out entry and profitable trade also. Congrats on it. Can you 'splain it a little more Lucy? What do the "P's" statnd for or is this your secret sauce.
Excellent example When the euro made that lower high at 1.1978 when did you get in? The next bar, after 1.1978 high? Thanks Steve
Concerning the EURO FX (EC) I know everyone is focused on obvious highs and lows and they are very important, but in my opinion...... The level that is sending us back down right now, the 1.1945 level, is probably the single most important level for me in a good many days. Really since February. If this level gets taken out to the topside again, and then holds on any move back (this is really important)...then I feel we will move on up. Likely erratically, but up. If this level continues to fail, I think we are in for a ride South for a while. Just some thoughts. Maybe we will see one of those rare 100 point ASIAN sessions. Then again, maybe not. Take care and hope you all make some money. Watch that 1945 level tonight instead of the Olympics.