So how new are you to this? That chart you posted is not a "Eurodollar" chart. But yeah, good luck anyway, you might want to know what it is you're actually trading, though... I don't know of any other way to explain myself. I don't have the time or energy to reply again to your non-sense replies. The chart is certainly the Euro versus the Dollar for the entire history of its existance. I am an expert at what I am trading. Next insult please....
two thoughts: one: it's obvious you never traded before in your life two: you need pscyhological help With a reply like that, I am surprised you received a right to post here. Please write something intelligent or not at all. There are many other threads here you can abuse people on. By the way...may I ask how old you are?
2009? 2017? Who are you, Nostradamus? Trying to forecast so many years into the future by technical analysis? Please don't be offended, but you don't have a clue. Some top pros like Warren Buffett and George Soros have been able to forecast a couple years into the future, but by using fundamental, macroeconomic, perhaps even political analysis. But using technical analysis? My god! Yes. Those are the years. What is the matter? You don't believe me yet? I didn't provide you with all the info I have yet. Ah... Listen very closely as I will only write this once to you...... The price of the Euro-Dollar obeys the boss as the boss is stronger than any other mechanism for determining market prices. This is in nature. There is nothing you or I can do to change it. One can take any market vehicle and draw two basic lines encompassing all known historical prices. Whenever the price rises to the top of the basic channel it is time to sell. On the other hand, when the price moves to the bottom of the channel of all known historical prices, it is time to buy. When intervals of ecstacy and depression occur, this is the time to move contrarily with the smart money and the assets cuzz the price always stays in the channel.
The longer one's time frame, the less reliable technical analysis becomes. TA works great in the short term because supply and demand--which is what technical analysis purports to meaure--is the most dominant force in establishing short-term trends. Fundamental analysis is a more appropriate tool in (trying to) gauge long-term trends. But the markets (all markets) tend to be efficient over the long term, so even with fundamental analysis it is difficult to succeed. I think the longer a series of prices, the more accurate the trendlines of the channel are. In other words, the Euro-Dollar channel is less reliable than the Dow Jones, for example. TA works better in the long run as it is more reliable. Enter the big money. Chump change for the short timed intervals. I don't believe in funamental analysis. For example, in the market basket of goods which is used to measure the CPI index which is used for most US government financial operations....it ain't accurate. If it were accurate and truly measured the cost of inflation, the US government would go belly.
That's odd, I usually hear the opposite.. With regard to the OP's plan, all I'll say is buying that last trendline touch in August '07 at 1.3350 stands out as one of my best FX trades to date. Additionally, I've had a similar theory, that simply trading the multi-year trendline touches (in any instrument) offers the highest risk:reward scenarios of nearly all trades. The only downside is the frequency of trade signals, they usually only come up once every few years per instrument. With regards to the euro itself, given the underlying upward trend, I don't think shorting the overheard channel line offers the same risk:reward as buying the lower channel support. Not only are you fighting the LT trend, but the interest rate differential is now against you as well (1% might not seem like much, but leverage that 50:1 over the course of months and it'll add up quickly). Also, where do you place your stop? If you use the channel line itself, you're constantly increasing your stop as it ascends. All in all, this trade is not nearly as lucrative as buying the lower channel and having your stop rise with your trade direction, but that trade of the decade has already passed by... Finally, someone that is intelligent. I knew I would get lucky! Excellent reply as the channel is increasing with time and a short position would not entail any many pips change as a long position. However, the total amount of time to move down is allot faster than the move up. The move down will be violent and all of Europe will be crying war. I just don't know who the war will be with.
Nonsense reply? LOL I don't know about you pal, maybe its all semantics to you. Whatever... But, the Eurodollar is not the EUR/USD. Look it up. You might learn something...
Your chart is not up to date. Since december the Euro has plateaued, oscillating in a range, without getting past 1.50 This doesn't appear at all in your chart.
Who are you, Nostradamus? Trying to forecast so many years into the future by technical analysis? Please don't be offended, but you don't have a clue. Technical analysis can predict long term gauges, like fibonacci retracements used to mark the dow since the beginning.
I have bee making money recently shorting the EUR/USD. The daily charts suggest that it is at a short term top. Every top starts by being a short term top. This forum is bearish on the dollar. It is is time to go long the dollar. Because of the carry cost, I will play it another way where I will earn the carry cost (or at least not pay it). Do not ask me to reveal how to do it here in a public forum, but it is doable!
Hilarious. Did he actually post the wrong chart? This guy is our good friend southamerica, that friend of Kings and predictor of every world event and macro financial event since 1976. day7793 jreynolds TheKin2 increasenow and now featuring....