I added another long here as well, tight stop. TP 1.0400 SL 1.0280 image

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I guess it depends on which big orange trendline you're looking at Mine has a big bag of money sitting above it image

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Or maybe it is the commodities such as gold and silver that is out of sync...maybe gold should be trading much higher than it currently it is, and aussie is trading right where it should be.....I don't know, just a different perspective.

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But what if it breaks above that top range of 1.06? Ranges do get broken. Would you exit the entire position then?

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I don't know, its been compressing for quite some time now, I think it is ready. I agree the breakout here is a VERY nice trade setup, too bad I can't trade gold

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Gold has now retraced over 50% of that big drop. This could be huge. image

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Too early to be shorting, IMO. Where did he say no need for QE3? All I heard was this pretty noncommital: The Fed is “prepared to take further action as appropriate to promote a stronger economic recovery,”

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I'm looking for PA to stay within/above the confluence of the the major and minor 38.2 fib lines, for an eventual move up to the 1.0370-1.0400 area, we have a pretty solid break of the previous days range so it looks promising. Breaks of the zone ...

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First target hit. image

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For the record DB, I have no problem with your views. Whether your methods involve Elliot Waves, ADX, or moving average envelopes, I actually would be interested in seeing your analysis. I never criticized your methods.

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nice little 30 pip gap up image

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I like fib fans when projecting potential targets. If 1.0280 is breached early next week, which seems likely given the current momentum, then I see a possible continuation to the 1.0400 level. The thickest blue line in the middle is the 38.2 fan ...

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It takes guts to buy high and sell higher, but I think thats the case here.

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Hey, nothing wrong with being greedy at the right times, if you feel strongly enough about the PA I say PILE ON

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Agree, added a few longs around 1.0210. My average position is now at 1.0150, set stop to breakeven and letting it run. image

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Yes, DB was right on the money today, give credit where it is due....and just ADMIT that you were wrong about the days action and move on, its really no big deal.

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I like your analysis. Both technically and fundamentally, your called short that you outlined yesterday was right on the money. I guess I'll think twice about trading against you again (although I am currently long again). I think 1.0190 is a ...

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Sounds like something one of the guys from 'Market Wizards' would say, I think its damn good advice.

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Yes you did mention that, I apologize I wasn't really trying to single you and your comment out, but referring to it as what the general sentiment here seems to be, but its starting to look bullish. Imo it has to come down right here(170ish) for ...

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Alien invasions would have been SO much cooler than global warming.

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