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Rsi Breakout

bizWiz
Feb 17 2010 at 17:10
397 posts
biz0101 posted:
    similar channel in eurusd which suggests a bullish movement in the usd:

<a href='' target='_blank'><img src=''/></a>


the eurusd has reached a cross road:

<a href='' target='_blank'><img src=''/></a>

however, judging by the rapid down move (with practically no retraces), i would say the minor support won't hold it and it would continue down to break the low of 1.3533.

Attachments:


Sleep is for the weak.
bizWiz
Feb 18 2010 at 09:42
397 posts
biz0101 posted:
    sold gbpusd again:

<a href='' target='_blank'><img src=''/></a>


price has completed the channel - i've got out with about +240 pips (+180, +60) with this move. i've also closed the usdcad position for +5 since it doesn't look good.

not sure at the moment how will the gbpusd continue - if it goes down, i'll wait for a retrace - might try a long one but need to see first the usd weakening on other pairs.

Sleep is for the weak.
bizWiz
Feb 18 2010 at 10:10
397 posts
ok, entered a long in the gbbusd:

<a href='' target='_blank'><img src=''/></a>

we have a double support - one of the new uptrend channel and another of the large downward channel (resistance becomes support).

also it does look like the usd is weakening in the other pairs.

i've placed a tight sl at 1.55 just in case i'm wrong..

Attachments:


Sleep is for the weak.
bizWiz
Feb 18 2010 at 11:40
397 posts
closed the recent gbpusd for +1 pip. after some more observation, it looks i haven't drawn the support/resistance levels well, so the setup is just too risky, also looks like the eurusd isn't going to stop dropping so i prefer the short side - will wait for an entry.

Sleep is for the weak.
bizWiz
Feb 24 2010 at 16:06
397 posts
not much to update here - managed to get another 100 pips on the eur drop in friday, although haven't had the time to post the setup..

price is currently in a tight range with no clear direction as usually happens after strong moves.

waiting for price to resume its movement each way..

Sleep is for the weak.
bizWiz
Mar 03 2010 at 12:39
397 posts
been busy for the past few days, which resulted in missed opportunities...

i think the euro is slowly reversing, and the usd strength around other pairs confirms it - looking to enter long on eurusd.

Sleep is for the weak.
bizWiz
Mar 05 2010 at 09:58
397 posts
ok, here's an opportunity - just entered long eurusd:

<a href='' target='_blank'><img src=''/></a>

not too happy entering before the nfp, but from my experience, the price movement due to fundamental releases are just a catalyst for technical analysis.

target is the major resistance of the daily downward channel.

Attachments:


Sleep is for the weak.
bizWiz
Mar 05 2010 at 10:04
397 posts
by the way, the stop loss is around 100 pips, i think it's wide enough to contain the nfp release.

Sleep is for the weak.
bizWiz
Mar 05 2010 at 13:50
397 posts
as i've mentioned previously, i'm biased short usd. there's another setup - just sold usdjpy:

<a href='' target='_blank'><img src=''/></a>

the price has retraced to a previous support (support becomes resistance) so, it should go straight down.

as a rule of thumb, i won't open more then 2 positions having a correlated symbol (usd in this case).

Attachments:


Sleep is for the weak.
milanpaukovics
Mar 08 2010 at 15:04
10 posts
awesome posts here!!! i learned a lot... thnx biz0101. need to hang on these live posts, really looking forward

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