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mfoste1 replied Dec 8, 2009I believe its gonna double top very similar to 2008 double top....
EURUSD
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mfoste1 replied Dec 8, 2009exactly...thats what i was saying with that chart i posted with the ovals identifying the W pattern. They keep getting bigger and bigger and I believe this is the final one since 5/12/2002 #169143
EURUSD
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mfoste1 replied Dec 8, 2009Wow,right now from the looks of PA there are a lot of banks using the dollar for carry trade....nobodys unloading shorts
EURUSD
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mfoste1 replied Dec 8, 2009banks are targeting 1.47, theyll try to take out stops below that....
EURUSD
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mfoste1 replied Dec 8, 2009Im not saying its a free fall at all....Dude just dont stand on the tracks waiting for a train to hit you....All the sellers are just waiting to take out long stops....theyll laugh all the way to the bank, wait, they ARE THE BANK.
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mfoste1 replied Dec 8, 2009I had a great nap....Here are the my next two major supports on this chart where I believe buyers will be,any buying before these levels will most likely be a scalp, however I will not be long....we just breached the 75sma....look at the support it ...
EURUSD
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mfoste1 replied Dec 8, 2009Gator do you think this is likely? I remember you saying that you went long ucad, and I was just wondering what kinda stop you had, if it was < 0460 or something around there?
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mfoste1 replied Dec 7, 2009yea pal thats true...But look at the first wave of every decline...it gets stronger and deeper in the trend; it attempted the top trendline twice and was rejected and is now stepping out of that channel-bearish movements....its only a matter of time ...
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mfoste1 replied Dec 7, 2009I have sell orders at 71-73....should provide decent resistance at the 75sma....
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mfoste1 replied Dec 7, 2009Does this give you a hint on how big this pattern is going to be? — Same pattern in this trend as identified by ovals....this time its just going to be much larger than the first 3. My target is somewhere around 1.4551, maybe even lower to ...
EURUSD
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mfoste1 replied Dec 7, 2009same pattern....It seems like there are less bulllish movements than the previous pattern, this could spell a larger W imho.
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mfoste1 replied Dec 7, 2009Not trying to start shit either, i hate that, but my post is pretty clear I think....
EURUSD