EurUsd - God's instrument

deadbroke

Established member
798 15
Several people here have mentioned the EurUsd 1.30 support level.
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This support is none other than the 38.2% Fib on monthly (Oct 2000- July 2008 grid)
Have the grid show on Weekly, Daily and 4H for further momentum insight as to whether it will hold or fail.
 

Doomberg

Established member
960 75
But if 13000 is such strong support which it is, why are you short already?

Wouldn't it be safer to just wait until 13000 is breached properly?

D
 

deadbroke

Established member
798 15
But if 13000 is such strong support which it is, why are you short already?

Wouldn't it be safer to just wait until 13000 is breached properly?

D

(1) Because a developed TREND hammers supports like Tyson hammered opponents in his prime. The more mature the trend is the less significance supports have. Their only use is really to ADD to SHORT at or close to the rebound top.

(2) No. Would you wait to make your move ONLY IF she said, "mount me now? ..... the laffing, the crossing of the legs, the touching during drinks/dinner or coffee, etc., are all supports being busted as she leans into the trend that is already in your favor. (Hunting 101)

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Both answers to be viewed within the context of ....

The TREND tends to continue
The TREND can end without notice or warning at any time
 
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deadbroke

Established member
798 15
EurUsd pend add to SHORT @ 1.30132 STOP not set.

(if the 1H rally tries to go higher and does, will attempt to add to Short from there too)
 

deadbroke

Established member
798 15
EurUsd: see the most recent formation on 4H? Looks like a Head and Shoulders, right?

Now look at the previous 2 formations on 4H?

Obvious, ain't it?

When one thinks its obvious, one gots to watch out for Murphy. So in this case waiting for the neckline break to add to Short is a good idea.

But here's the thing, really - the trend on 4H is down down down anyway, so an addition to short whenever is acceptable.

Trend caveat - the trend can reverse without notice at any time, hehehehe.
 

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petedeluiz

Member
65 5
No formation at all :)

It's a downtrend, it've been for 2 months, so short until the trend bends.

I wish it always that simple.

The market is so simple.

But I and most traders always beat ourselves in this game.
 

deadbroke

Established member
798 15
EurUsd 4H ....

Euro confirmed the 4H downtrendline in spades. This line is now the profit taking line on 4H leveraged SHORTS.

On DAILY all SHORT (UNleveraged) positions are so fast asleep and snoring that even a freight train won't wake 'em up.
 

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deadbroke

Established member
798 15
EurUsd just took profit @ 1.29575 on all open leveraged positions .

Only core DAILY positions remain SHORT.
 

deadbroke

Established member
798 15
Next decent 4H rally will be when I re-enter some leveraged shorts.

Daily shorts continue as-is in snoring mode.
 

deadbroke

Established member
798 15
If the thick black horizontal line on extreme right is taken out, we might have that rally that will be shorted at its top. If the trendline breaks for a 3rd time to the upside that could be the early signal of rally aborning.
 

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