Comments on: Euro-Pound. http://fxmadness.com/2009/10/14/general/euro-pound/ This blog goes where few traders dare - the exciting world of Forex outside the dollar! Tue, 31 Jan 2012 13:20:56 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: admin http://fxmadness.com/2009/10/14/general/euro-pound/comment-page-1/#comment-3637 admin Fri, 16 Oct 2009 04:33:25 +0000 http://fxmadness.com/2009/10/14/general/euro-pound/#comment-3637 I don't recall saying that, but I like using that level, because my stop is smaller than 50%, which is reached more often. Also, I generally don't use fixed number, but rather look for reversal pattern in that area. I don’t recall saying that, but I like using that level, because my stop is smaller than 50%, which is reached more often. Also, I generally don’t use fixed number, but rather look for reversal pattern in that area.

]]> By: Prudence http://fxmadness.com/2009/10/14/general/euro-pound/comment-page-1/#comment-3567 Prudence Thu, 15 Oct 2009 17:59:56 +0000 http://fxmadness.com/2009/10/14/general/euro-pound/#comment-3567 Okay, thanks. I found your Nov 2nd post about the beast: "...Previous low (A) is remarkably close to current high (B). Very often support point act as resistance levels when the trends are trying to revers. It is called “change of polarity’ and happens very often. Another interesting development is proximity of 100 simple moving average, which also acts as a resistance here...." You also say somewhere that if the 61.something % retracement isn't reached it's not done going down. Okay, thanks. I found your Nov 2nd post about the beast: “…Previous low (A) is remarkably close to current high (B). Very often support point act as resistance levels when the trends are trying to revers. It is called “change of polarity’ and happens very often. Another interesting development is proximity of 100 simple moving average, which also acts as a resistance here….”
You also say somewhere that if the 61.something % retracement isn’t reached it’s not done going down.

]]> By: admin http://fxmadness.com/2009/10/14/general/euro-pound/comment-page-1/#comment-3564 admin Thu, 15 Oct 2009 17:21:23 +0000 http://fxmadness.com/2009/10/14/general/euro-pound/#comment-3564 Assumed extreme- in a previous post I'm assuming low was established at about 0.9325 after falling from 0.9410. The low would be confirmed once price starts to reach soem of the retracement levels. It didn't happen untill this post, when the confirmed low, as measured this way was at 0.9295. Change from 0.9325 of last post. On daily charts I don't see a reason to either buy or sell, the way I look at charts, so its hard for me to say anything about it. FIB levels are not a tool to be used by itself. All they do is to put mathematical divider on a price swing, and have nothing to do with the direction of your trade. You decide based on other means to go long or short. Fibs only indicate possible points at which to enter or exit. Assumed extreme- in a previous post I’m assuming low was established at about 0.9325 after falling from 0.9410. The low would be confirmed once price starts to reach soem of the retracement levels. It didn’t happen untill this post, when the confirmed low, as measured this way was at 0.9295. Change from 0.9325 of last post.
On daily charts I don’t see a reason to either buy or sell, the way I look at charts, so its hard for me to say anything about it.

FIB levels are not a tool to be used by itself. All they do is to put mathematical divider on a price swing, and have nothing to do with the direction of your trade. You decide based on other means to go long or short. Fibs only indicate possible points at which to enter or exit.

]]> By: Prudence http://fxmadness.com/2009/10/14/general/euro-pound/comment-page-1/#comment-3560 Prudence Thu, 15 Oct 2009 16:58:21 +0000 http://fxmadness.com/2009/10/14/general/euro-pound/#comment-3560 "Assumed extreme" could you elaborate. I thought the whole purpose of the FIB lines was to show you the middle. I thought you went to the last low before the spike up and the top of the spike when you're pretty sure, as you were, that it's been set and the middle shows you where it will land. No? “Assumed extreme” could you elaborate. I thought the whole purpose of the FIB lines was to show you the middle. I thought you went to the last low before the spike up and the top of the spike when you’re pretty sure, as you were, that it’s been set and the middle shows you where it will land. No?

]]> By: Prudence http://fxmadness.com/2009/10/14/general/euro-pound/comment-page-1/#comment-3556 Prudence Thu, 15 Oct 2009 16:47:23 +0000 http://fxmadness.com/2009/10/14/general/euro-pound/#comment-3556 When I saw the June low I sold it and set a new buy for .8899. When I saw the June low I sold it and set a new buy for .8899.

]]> By: Pound on a move. | fxmadness.com http://fxmadness.com/2009/10/14/general/euro-pound/comment-page-1/#comment-3550 Pound on a move. | fxmadness.com Thu, 15 Oct 2009 16:02:33 +0000 http://fxmadness.com/2009/10/14/general/euro-pound/#comment-3550 [...] had a huge day, with EUR-GBP   finally falling by a significant margin. I mean 200 pips move in a day is a lot for this pair. [...] [...] had a huge day, with EUR-GBP   finally falling by a significant margin. I mean 200 pips move in a day is a lot for this pair. [...]

]]> By: admin http://fxmadness.com/2009/10/14/general/euro-pound/comment-page-1/#comment-3538 admin Thu, 15 Oct 2009 14:21:43 +0000 http://fxmadness.com/2009/10/14/general/euro-pound/#comment-3538 I normally focus on most recent swings. If you are looking for a top/bottom which is currently forming, it is an ASSUMMED extreme. Compare what I used for bottom on 1H chart in last 2 posts. This gets adjusted as price develops. You bought EUR-GBP? Hope you had a small stop in place... I normally focus on most recent swings. If you are looking for a top/bottom which is currently forming, it is an ASSUMMED extreme. Compare what I used for bottom on 1H chart in last 2 posts. This gets adjusted as price develops. You bought EUR-GBP? Hope you had a small stop in place…

]]> By: Prudence http://fxmadness.com/2009/10/14/general/euro-pound/comment-page-1/#comment-3515 Prudence Thu, 15 Oct 2009 08:31:44 +0000 http://fxmadness.com/2009/10/14/general/euro-pound/#comment-3515 Because now I went to the daily chart, which I've never used, and think the June 17th low is the proper one to use which would put the buy at pretty close to .8899, which also happens to be close to the 100SMA, right? Because now I went to the daily chart, which I’ve never used, and think the June 17th low is the proper one to use which would put the buy at pretty close to .8899, which also happens to be close to the 100SMA, right?

]]> By: Prudence http://fxmadness.com/2009/10/14/general/euro-pound/comment-page-1/#comment-3514 Prudence Thu, 15 Oct 2009 08:04:36 +0000 http://fxmadness.com/2009/10/14/general/euro-pound/#comment-3514 I just bought:) it after reading about FIB lines and deciding it had reached it's turning point. That's if you use the Oct 1 low. How do you determine which low to use? I just bought:) it after reading about FIB lines and deciding it had reached it’s turning point. That’s if you use the Oct 1 low. How do you determine which low to use?

]]> By: admin http://fxmadness.com/2009/10/14/general/euro-pound/comment-page-1/#comment-3511 admin Thu, 15 Oct 2009 04:10:51 +0000 http://fxmadness.com/2009/10/14/general/euro-pound/#comment-3511 Wilson, yeah, no reason for them to disclose trades, but I also doubt Barclays would be "leaking" false info on purpose. Its probably rumor on top of second hand rumor and so on. Wilson, yeah, no reason for them to disclose trades, but I also doubt Barclays would be “leaking” false info on purpose. Its probably rumor on top of second hand rumor and so on.

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