Long the Euro at 1643

Quote from MountainTrader:

That is an interesting site, Tactica. According to them the GBP/USD is already below it's reversal point.

I haven't quite figured out what all that information is about but it seems like there is something useful there.
More...

...thanks;))
Pound has entered into a zone reversal...
 
how about that? placed a position trade last night right about the time i posted that. I am up (actually short,lol) with a 60+pip gain for $1200 and its still falling.


Kastro, i don't try to predict tops and bottoms, just catch a middle piece of a trend, hopefully a huge piece.

Montaintrader, thanks for the agreement. Nice to see anotehr person not following the little dogs. I try to trade with the big dogs. Makes staying with the trend much eaasier
 
I bought out of the hole again this morning. Should be another cardiac day.

BTW - I was not implying that this was any major bottom. I do not pick bottoms. Much too dangerous for me. There is certainly alot of bidding going on down here. Might not be enough though
 
Although I do not make decision using Fib stuff, I certainly pay attention when it coincides with other support and resistance levels, especially the big ones.

If your charting software has a "Fib Fan" tool. Stretch it from the all time low to the all time high. You should see that we are right at the 50% retrace level.

This helps explain at least some of the buying interest here.
 
I am long on Eur/Usd and just opened a long on USD/CAN at 1.1914

I got stuck with the eur/usd in a bad spot, so i am in the hole a little. I put a buy at 1.6900
 
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