EURUSD nears lots of stops and it is clear that hitting them would open
the door to 1.4037.
At around 1.3930 some big action took place (stops and fresh aggressive buying). Longs need to be tested and we need to see their strength at 1.3930
to trust this direction.
A cluster of stops all the way to 1.6218 on GBPUSD
Moderator: moderators
EURUSD nears loads of sell stops
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- eurusd6.gif (64.41 KiB) Viewed 3264 times
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first stops hit on EURUSD
first stops hit on EURUSD
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- eurusd7.gif (22.25 KiB) Viewed 3262 times
SHORT GBPJPY @ 154.57 closed on TP 154.12 (+45pips)
SHORT GBPJPY @ 154.57 closed on TP 154.12 (+45pips)
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- gbpjpy1.gif (46.52 KiB) Viewed 3250 times
A test of 1.3930 on EURUSD is underway
At around 1.3930 some big action took place (stops and fresh aggressive buying). Longs needed to be tested and we need to see their strength at 1.3930 to trust this direction. We are just seeing a test of this line level.
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- eurusd8.gif (57.72 KiB) Viewed 3248 times
Limit Entry Buy Orders hit on EURUSD @ 1.3930 and below
Limit Entry Buy Orders hit on EURUSD @ 1.3930 and below. Their stops below 1.3017. USDCHF suggests a bounce on EURUSD is possible.
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- eurusd9.gif (42.24 KiB) Viewed 3244 times
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Last buys stops have been hit on EURUSD
Last buys stops have been hit on EURUSD.
dax30 slump helped eurusd dip below 1.3930
dax30 slump helped eurusd dip below 1.3930
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- dax301.gif (48.2 KiB) Viewed 3234 times
Typical EURUSD price action
Typical EURUSD price action:
Tested traders guts below 1.3930, hit stops of fresh buys, and then professional money came in. USDCHF supported this bounce off the lows. Perfect alignment with dax30. That's the beauty of FX.
Is it possible to know this sort of action before it really takes place?
Definitely yes.
As you can see some price levels are more important than the others. Some price levels are crucial. They are like marks of urine left by predators.
Chasing the market is the worst thing one can do.
Tested traders guts below 1.3930, hit stops of fresh buys, and then professional money came in. USDCHF supported this bounce off the lows. Perfect alignment with dax30. That's the beauty of FX.
Is it possible to know this sort of action before it really takes place?
Definitely yes.
As you can see some price levels are more important than the others. Some price levels are crucial. They are like marks of urine left by predators.
Chasing the market is the worst thing one can do.
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- dax302.gif (48.28 KiB) Viewed 3226 times
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- eurusd10.gif (58.08 KiB) Viewed 3227 times
Last edited by Paul on Tue Jul 07, 2009 9:26 am, edited 1 time in total.
Re: dax30 slump helped eurusd dip below 1.3930
Paul wrote:dax30 slump helped eurusd dip below 1.3930
To tell the truth, I don't understand, why and how
DAX is correlated with Forex prices,
whoever from the prophets will predict this.
to noone22
Study the dax30 H1 chart attached to see the correlation of price action with FX. A correlation is not a permanent phenomenon, however. Detailed studies are shown in Russian forex journals (free access).
,
Study dax30, cac40 and other European bourses(I do not recommend sp500) to observe similarities. The whole thing goes without saying. Study the price actions, not levels. Feel it.
,
Study dax30, cac40 and other European bourses(I do not recommend sp500) to observe similarities. The whole thing goes without saying. Study the price actions, not levels. Feel it.
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