Goldmine!

[FX4Newbies]

Good Morning EU Traders,

Price made a higher high again. Likely areas of resistance IF it is going to turn soon:

1. The the red SH, which price is close to now.

2. The teal U-MLH, which isn't that far either.

3. The dark green L-MLH.

Of course it can blow through all three on its way to 1.5004. It has already crossed the ML on the monthly chart. Just follow price...read what it is saying.

All the best,

FX4Newbies

P.S. Planning to post the weekly wrap-ups on the blog by Saturday night. A blessed Resurrection (Easter) Weekend to those who celebrate the life of Christ.

 

[FX4Newbies]

Good Monday Morning,

The UK banks are closed today, but the US banks are open. Let's see if we get some action. "Lines in the sand" are in place. Price is still officially in an uptrend.

Trade well,

FX4

 

[FX4Newbies]

Here we are again. No major moves yet. This chart is H4. Found support at WL but has not cleared previous highs. Time-frames seem mixed in the messages they are sending...bullish here; bearish there....makes for chop.

Trade well,

FX4

 

[JahDave]

Here we are again. No major moves yet. This chart is H4. Found support at WL but has not cleared previous highs. Time-frames seem mixed in the messages they are sending...bullish here; bearish there....makes for chop.

Trade well,

FX4

This is because we have a topping process going now for several weeks............The trend has been up for 2 years now and because it is in the process of running out of steam and reversing soon, then it will be choppy..........

Good Trading,
JahDave

 

[FX4Newbies]

This is because we have a topping process going now for several weeks............The trend has been up for 2 years now and because it is in the process of running out of steam and reversing soon, then it will be choppy..........

Good Trading,
JahDave

You are correct. I'm curious about when the market will turn. Will "they" use a volatile event so that fewer traders are in the market and then when they see the move jump in and push price? We'll see.

Thanks for sharing,

FX4

 

[FX4Newbies]

Well price went a little higher...to the ML on the Daily. Here are two charts. Now price action can get quite interesting as traders step up their efforts to get price to go their way from here. Posted the H1 first, then the Daily.

All the best,

FX4

 

[JahDave]

You are correct. I'm curious about when the market will turn. Will "they" use a volatile event so that fewer traders are in the market and then when they see the move jump in and push price? We'll see.

Thanks for sharing,

FX4

Hi Newbies,

My personal opinion is that "they" will want the most people in the market the wrong way before it reverses........My case in point is that if you look at any news in the U.S. then you will notice they are saying that there is a new bull market and that the commodities will never go down and that the Muni bond market is great............and last but not least, the U.S. is in a "recovery"............I don't buy any of it........I think the Euro could go up, but not above the 1.5132,,,,,,at least a dip there...........70% chance of a total reversal............and the chances above 1.60 are less than 1%.........

Good Trading,
Dave

 

[JahDave]

Elliott Wave theory is showing a major reversal point on the minors next week and major reversals a week after that......... The sad part of this whole thing is that most personal investors have sat out almost all of this 2 year reversal...........and about the time they get in, then the markets will reverse and take almost all of the remaining money they have.............This really sucks for the working class

 

[FX4Newbies]

Well, here we are. Price still in an uptrend but at resistance on H4 (second chart) and a little room to the WL on H1. Could get a pop. If no sellers then price could keep going. A Doji on H4 now...indecision. Tell needed.

Take care,

FX4

 

[FX4Newbies]

Just letting newer readers know that the weekly wrap up of the 10 pairs and metals I follow on the blog are now posted.

Enjoy the rest of your weekend,

FX4

 

[FX4Newbies]

Good Monday Morning traders,

EU still trying to push higher. Approaching a potential area of resistance: Blue HL. If it can clear it, then the WL could be the next target. Let's see what the morning would bring.

Take care,

FX4

 

[FX4Newbies]

Good Morning traders,

I think these charts say it all. The last chart is H4.

Take care,

FX4

 

[JahDave]

Chop, chop, and more chop Newbies...........This is a typical topping process...........I can't say at the moment if the top is today, in a week, or in a month, but keep those pitchforks coming because there is a major reversal coming soon........

 

[FX4Newbies]

The saga continues...

FX4

 

[FX4Newbies]

Good Morning all...

NFP has hit the market and EU is holding on...Trichet's comments yesterday knocked price from the red U-MLH to the second WL. Buyers trying to hold it in that area...look left. At a critical point. Let's see if the bears will whack this one some more.

Enjoy your weekend.

Take care,

FX4

 

[FX4Newbies]

Weekly wrap ups of the 10 pairs I follow on the blog and metals are now posted on the blog.

Take care,

FX4

 

[FX4Newbies]

Hello traders,

Here are the charts for EU this morning. Hanging at a critical place...decisions, decisions.

Take care,

FX4

 

[FX4Newbies]

Hello EU traders,

Below are continuation charts. Let's see what we get. Assume nothing.

Take care,

FX4

 

[FX4Newbies]

Hello again,

Here is the H4 chart for Eur-Usd. Price still holding....

Back to trading mode I go

FX4

 

[FX4Newbies]

Good Morning all,

EU looks like it may drop a little then head back up. It needs to go to the "spot" where it will give the tell for the next move. So, it is now a cat and mouse game .

H1 and H4 charts included.

Take care,

FX4