eur usd going/gone parabolic

[PaulRon]

hmmm

 

[TraderGreg]

Yeah I've noticed. How did you draw the arc in Oanda? Paint?

 

[Ivanovich]

Blow off top, from the looks of it.

 

[stevegee58]

Too far too fast = fading opportunity.

 

[PaulRon]

wish u could draw it in oanda - ya just put a spline in paint - been shorting this mother and getting burned id suggest waiting for confirmation of a pullback before entering

 

[stevegee58]

It'll eventually stop going up and throw a 1-2-3 reversal. (i.e. a lower high)

 

[ForexPro]

I shorted at 1.4684. Could be early. But agree too far too fast. Its up nearly 20% in dec.

 

[stevegee58]

If you look at the daily chart, you can see a major resistance level coming up at around 1.4866.

Next major bump on the daily is around 1.6000.

All you price-action hatahs, watch and learn.

 

[Cutten]

It does look overdone. EURGBP is even more extreme.

I'm putting out the fade-trade now. Looking for a move back to 1.40, and probably lower.

IMO for this trade you need to be ready to take some heat if it goes 1 or 2 days more. I would say that puts look *very* appealing here.

 

[Ivanovich]

And there we go.

I have some nice EUR/TRY shorts doing lovely.