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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
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chloethebull
halifax, Canada
Posts: 1183
13 years ago
Jun 15, 2011 19:31
do you have the option the load different parameters for the extention&expansion tool?ya it was funny cause last night i had the eur breaching the 161.8% with 3-5 candles trading above it so i asked mark how to trade it 1)do i look towards the 261.8% or2)start looking @higher time frames?he said yes look for the 161.8 but chk with higher time frames first..thats when i noticed the possible acb pattern and thought it was more important so i went long:( ohh well didnt workout onto the next set up..:)ok gl:)
givemethebill
Japan
Posts: 316
13 years ago
Jun 15, 2011 19:24
@tomb: sorry i am still amateurish and continuing learning FX. I don't think I was able to draw 89, 144, 233, etc FIB. I have got to play around more with my toy. If you could give me a screenshot wud be helpful for me to visualise what u say.

@chole: I dont know why my software can't display 261.6 FIB..never tried using it I think bcoz it's BEYOND the drawn line. cud u show me a picture of the 261.6 at 1.4100. that wud be gd!!
TomB
The Rock, UK
Posts: 17
13 years ago
Jun 15, 2011 19:06
Chloe, I use 6 fibs from 34 onwards. Those were just examples as the most frequently hit ones.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Jun 15, 2011 19:03
hey tom, are those the fib levels u use?can i ask you why u use those levels?ok thank gl:)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Jun 15, 2011 19:01
hey bill the 60min looks veri sickly lol..its droped through 161.8% support like it was butter:) looks very confident to take a run @ 261.6%=14100-10=to my 78.6% pretty significant overlap+cci is well into over sold territory...im willing to try a long with a tight stop..ok gl:)
TomB
The Rock, UK
Posts: 17
13 years ago
Jun 15, 2011 19:00
Bill, once you have the tunnel, wait until price gets away from the tunnel at fib levels: 89, 144, 233, etc. Then you can play a mean reversion play. Two things will happen, tunnel will get closer to price, and price will get back into the tunnel. Simple as that.

The preferred scenario is however wait until price is stuck, ie ranging in the tunnel, then you can have a breakout play with a very tight sl (the other side of the tunnel). Take profit at fib levels, let the last one run or hit trailing stop.

H4 is different though.
givemethebill
Japan
Posts: 316
13 years ago
Jun 15, 2011 18:57
http://givemethebill.files.wordpress.com/2011/06/2011-06-14-w.jpg
forgot to include the 4th support line..but u know what im talking abt.
givemethebill
Japan
Posts: 316
13 years ago
Jun 15, 2011 18:56
i wish i know the question to ur answer chloe lol ! i'm short EUR long term until next yr :D
BUT i think it's good to take @ 1.35-39 level till end of this mth ...may see a BOUNCE in JULY rate hike.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Jun 15, 2011 18:37
any1 thinkn the 14110=78.6% from 13965-14700 going to hold?? if not i think we have to look @13775=127.2% as potential t/p..ok gl:)
cat0nip
Frankfurt, Germany
Posts: 1632
13 years ago
Jun 15, 2011 17:28
No EURx doesn't loose as much as USD gains ... expect EURx will begin to drop later...
a big big flight to the safety of US treasuries that is what happens... not difficult to predict imho
and entirely without charts
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