Monday, February 08, 2010 7:31:36 PM
Re: $USD Pullback Per Fibonacci; Relative strength charts: $XEU vs. $USD:
Hi, 3x!
Still trading off of oanda.com platform here.
High = 1.37114
Low = 1.36438
Positions at 100,000 units each for Fibonacci retracement levels:
- 21.4% = 1.36596 target - Reached, still in position with 300,000 units; moved stop loss to 7%
- 38.2% = 1.36695 target - Reached right now; position unchanged; moved stop loss to 15%
- 50.0% = 1.36776 target - Pending; expecting selling 1/3 of position
- 61.8% = 1.36854 - Pending; expecting to sell 1/3 position
- 100% - High = 1.37114; speculative interest in keeping this position based on favorable longer timeframes (i.e.: 15-minute and 60-minute charts still favor a higher retracement; secondary indicators are getting taut and demand some unwinding.
Long-term outlook remains favorable for the USD in this major pair.
Current support = 1.26607 = 55-EMA on 5-minute chart (actually just got validated as of this typing).
$XEU:$USD (RS) - 12-Mo., Daily:
$XEU:$USD (RS) - 3-Yr., Weekly Chart:
Hi, 3x!
Still trading off of oanda.com platform here.
High = 1.37114
Low = 1.36438
Positions at 100,000 units each for Fibonacci retracement levels:
- 21.4% = 1.36596 target - Reached, still in position with 300,000 units; moved stop loss to 7%
- 38.2% = 1.36695 target - Reached right now; position unchanged; moved stop loss to 15%
- 50.0% = 1.36776 target - Pending; expecting selling 1/3 of position
- 61.8% = 1.36854 - Pending; expecting to sell 1/3 position
- 100% - High = 1.37114; speculative interest in keeping this position based on favorable longer timeframes (i.e.: 15-minute and 60-minute charts still favor a higher retracement; secondary indicators are getting taut and demand some unwinding.
Long-term outlook remains favorable for the USD in this major pair.
Current support = 1.26607 = 55-EMA on 5-minute chart (actually just got validated as of this typing).
$XEU:$USD (RS) - 12-Mo., Daily:
$XEU:$USD (RS) - 3-Yr., Weekly Chart:
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