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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
June 4, 2011 00:13 ET
Member since Nov 2010 In Thread: EUR
expecting current Euro recovery to move much higher than most expect....
seeing a test of 4730/50 level.... very crucial level coz if it breaks and settles above that level... favor move to the uspside....
dave...
yes.... i think it will look very ugly and messy.... expecting a lot of false breaks up and down...
many bears thinking downside is a given.... but i think many could get trapped... :)
could range trade 4200/4700 level quite sometime...
my posts... earlier this week....
still believe the range trade will still be in play....
same story... if many will be convinced it's long already... will likely be heading south again...
4150/4200~4730/50 range will likely be in play.... unless we see clear weekly close above 4750 level...
expecting dip back to 4200 level after testing 4730/50 level.... a triangle formation b4 the real break happening....
gl/gt
chloe...
remember this post of mine 2 weeks ago?
i still think the triangle will be at play...
very short term... shorts are still in play... 4080 would be very crucial level for me... if can't hold... could see move south already.... it touched my very last crucial support line... need a bounce from here....it would be considered only a deadcat bounce if it only bounces to 4220/30level...
daily and more importantly if weekly closes below 4080.... wouldn't jump into longs... will wait out first.... need to see 8 hour to close positive... better if Euro settles above 4220/30 level.... good signal it may be taking steps for recovery toward 4550/4600 level....
above 4140... we may see Euro recovery to 4220/30 already..
i think people are getting tired of your negative outbursts... you made your point... if you have nothing positive to contribute... maybe better idea to go back to your thread where your insights are useful....
successful traders can show signs of overconfidence which can be reflected as arrogance in some people's eyes.... nobody has a problem with Ignore and his trading methodology... i've known him for sometime and he definitely has earned my respect... only 2 individual trader's has earned my respect so far and ASH(just for comparison purpose... definitely no disrespect) is not one of them...
hope to see some positive comments if you wish to hang around this thread... good day!
a positive close on 8 hour sitting on support line would be a good sign to go long on next 8 hour dip... using the 1 hour candle for entry...
or
on a downtrend... current 8 hour high breaks above previous 8 hour high... and that would be a signal to go long also.... you may not have the best entry.... but it will avoid big losses... much better winning percentage than trying to pick the top or bottom... but i do takes posi(pick bottom or high) without confirmation time to time... and that's when i usually get in trouble... :)
gl/gt
very hard to explain my lines....
i have different parallel lines running thru different time frames... usually on longer time frames...
one sloping upwards and the other one sloping downwards... from the main line drawn... you can draw several parallel lines almost equal in distance.. and all this lines amazingly represent support turned resistance lines or vice versa... if price clearly violates certain lines(clearly broken or settles below that line... my indicator usually 8 hour candles)... chances are it will test the next line... most of the time these lines coincide with a lot of the fib levels....
i usually use 8 hour candles for short term reversal or pause(4 hours gives false signals time to time) and the 1 hour for entry....
i'm generally a trend trader.... and try to take out assumptions as much as possible... 95% tech trading and and some attention to fundamentals