agree i take the monthly chart of EU , current it reaching on a 50% retracement.however the strongest support is @ 61.8 retracement @ 1.3299.

it very easy just go to the monthly chart, draw the fib level 01/11/2005 ( low ) to high point 1/4/2008.

1) @ 50% , it resistance (1/12/2004) ----- > turn support ( last candle ).
2) @ 61% , you see a lot of support candle holding this level

anyway it better hear from his trader

www.win-at-trading.com/fx-analysis-9-7.html

This post has been edited by r326196: Sep 11 2008, 08:22 PM

hi kelvin, i hope u didnt miss my reply b cos i edited my reply

www.win-at-trading.com/fx-analysis-9-7.html

i prefer to trade the Main currency , cross currency to volatile for my liking. unless you are really good at trading , then touch cross currency

me waiting to short the EU , on 15min chart ABC patten has form and it already broke the support trendline.waiting for it to test the resistance level before shorting

not going for big profit. looking for abt 20pip target

short EU NO @ 13922 SL 13939

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Added on September 11, 2008, 10:36 pmkana stop out.

This post has been edited by r326196: Sep 11 2008, 11:43 PM

normeck have you trade mini first before you trade std lot .

big loss , i hope his post is a demo acct only .

previously i also trade quite harzard manner. this is a traing program recommended by other trader which i feel is quite good esp if you are new in trading . http://www.win-at-trading.com

frm the monthly chart , i still think EU will still go lower. if you take the lowest swing low to highest swing high. EU already broken the 23.6% retracement. the first support will be @ 13664 , i see a resistance turn support at that level

at what level you short,i have not see my trigger point yet. what time frame you trading. i am on hourly

i find that USDJPY is a safer short option b cos it hit 61% retracement level

This post has been edited by r326196: Sep 12 2008, 08:49 PM

i shorted USDJPY 106.94 will exit at 10670 hit.closed

This post has been edited by r326196: Sep 12 2008, 09:32 PM

agree price action is stalling. by the way it have not break the support trendline.c

r ur getting wider spread today

pending to short EU @ 14284 ( 50% retrace )or 14331 ( 61%)

This post has been edited by r326196: Sep 16 2008, 08:47 PM

i think i will stop all trading first , market now going up and down.can get stop out easily

looking now spread are bigger and price going whip saw, unless trading are trading on longer time frame, if not better to be safe. start trading mayb after 9.30 when US open to have a judge the direction

This post has been edited by r326196: Sep 16 2008, 09:15 PM

reminder dun force a trade when there it not safe to do so

this offer gold

http://www.odlsecurities.com/usa/index.html

now it better to look at higher timeframe e.g 4 hourly for direction , then trade on hourly chart.

if you look at 15min for EU , there a head and shoulder formation