Quote of the day: I’ve learned that everyone wants to live on top of the mountain, but all the happiness and growth occurs while you’re climbing it. – Andy Rooney
EURUSD
Trading strategy: long at 1.4025, stop at 1.3955(0.5% risk), 1st objective at 1.4075, 2nd objective at 1.4165
The euro found support near 1.3900 and breached the $1.400 barrier, as expected, reaching a 9-month high against the dollar. Current break above $1.40 extends the bullish objectives to 1.4300 which is this year’s open, followed by December’s 1.50-1.51. Short-term sentiment remains bullish as last attempts to the downside were short-lived and intra-day pullbacks may be limited – as 1.400 will probably provide a stable support in the coming days. Buying dips and when price breaks higher remain the best things to do for now, since there are no signs of trend exhaustion. Today’s important events in the economic calendar are the ECB monthly report, followed by U.S. trade balance and initial jobless claims later today. Current exchange rate is 1.4077 @05:50 GMT
Support: 1.400, 1.3900/30, 1.3850/80, 1.3800 and 1.3680/00
Resistance: 1.4100, 1.4200 and 1.4300
Market sentiment: long term – mixed, medium term – bullish, short term – bullish, intra-day – bullish
- EURUSD hourly chart 10-14-2010
More trading setups
GBPUSD
- GBPUSD 4hrs chart 10-14-2010
EURCHF
- EURCHF 4hrs chart 10-14-2010
AUDUSD
- AUDUSD 4hrs chart 10-14-2010
USDJPY
- USDJPY 4hrs chart 10-14-2010
Gold
- XAUUSD 4hrs chart 10-14-2010
Have a great day and good luck trading!
could you please explain to a simple rookie like me the following:
take H4 chart put 150 and 300 EMA (with 3140 and -3140 levels for each one)
why are these levels so much respected? it's really strange how accurate it is
what do you mean by "with 3140 and -3140 levels for each one"? is that shift?
no, when u are in the moving average menu u have 3 folders : parameters, levels, visualization
=>take levels and put values 3140 and -3140
that "level" settings should be applied only to oscillators and such since they are only drawing a horizontal line at the level specified. I see no reason why someone would add any level to a MA. Or we are looking at different charts? show me yours