Recent content by Ganndude2004

I have no idea how the FOMC report is going to turn out...but my gut is saying we are going south for a protracted run. We are back at the tops of the last two Major tops on the monthly chart.

I should add - I have no experience in this...its just the first thought that came to mind :)

Ah...gotcha. I'd suggest rather than buying currencies, to buy commodities. I am not speaking of futures. I am thinking you would want to take ownership of gold/oil, pay to have it stored somewhere, and forget about it for a few years.

I'm not sure I understand what you are trying to do then.....assuming I am correct, and all of us benefit from an extended dollar rally, would it not make sense to 'ride the wave ' back up when it was time? No sense in locking yourself into any currency when you BLASH your way into...

I would think any bank will let you store it in a safety deposit box....but that also means 0% interest.

At this point I am flat....I have a sell order at 1.3456.....have a great day everyone.

We printed 1.3462 - at 15:10 and again at 15:15 on the 5 min chart. Close enough for me.

I was trading the USD/JPY until I finally recognized that the EUR/USD was in a downtrend. I am not sure why , but I prefer being short over being long in anything I trade.

Yeah, I realized that once Bjohn needed the clarification :) I'll have to make it a point to start posting a chart along with any commentary I make...

Aye...your right...this downtrend has been going on for a long time hasn't it :cool: I meant from 08:30 - 14:15 on the 15 min chart.

I should have also added "From the low of 1.3450 at 14:16

assuming I am correct - this reaction to the downtrend, will reach $1.3464 ish.

I'm thinking the longer term uptrend is over. I am enclosing the monthly chart - as you can see we failed to proceed north , creating a double top from 2005

I think the answer to your question depends on the time frame your trading. For me - the most significant resistance is 1.29 and change ( < .50). But that is quite a few weeks out yet , IMO.

I have to agree. if not this week, definately by next week.