rodrigosmarts

EURUSD 1.3200 Resistance

FX:EURUSD   Euro Fx/U.S. Dollar
942 33 8
EUR is overbought due to the American QE3 news, rising for more than 1000 pips with no decent retraction.
We should stay alert to the 1.3200 resistance area, which could lead EUR to a retracement towards 1.3000 or the rising channel bordar that was broken.

Follow this trade:
http://www.twitter.com/rodrigosmarts
http://tradingsmarts.tumblr.com
Razvan
4 years ago
Hey rodrigo, this setup goes perfect with the overbought zone on the RSI in which the EURUSD entered. Let's see if it will be rejected from there.
Reply
rodrigosmarts Razvan
4 years ago
Nice bro. EURAUD has also reached for an important weekly resistance trendline, ractifying the signal.
Reply
alexp
4 years ago
Although I do believe that EURUSD is overbought, I do not see any signs of reversal as yet. They might come or they might not, but going against strong trend is not an option for now. At least for me ;)
Reply
rodrigosmarts alexp
4 years ago
You've got a point. I'm also keeping my lots to buy the retracement, shorting realy small at the resistance.
Reply
Razvan rodrigosmarts
4 years ago
A price pattern on a smaller time frame might signal the retracement.
Reply
rodrigosmarts Razvan
4 years ago
snapshot

Like this ;)
Reply
Razvan rodrigosmarts
4 years ago
yes :))) nice triangle, but be careful, it happened to me that this triangle became a flag...a break under the lower line could give a new confirmation :D
Reply
rodrigosmarts Razvan
4 years ago
stops already on BE
Reply
vintageus
4 years ago
Hits 3283 then Drops for a Retrace.
Reply
Razvan
4 years ago
1.3 hit by the EUR...:D
Reply
rodrigosmarts Razvan
4 years ago
I'm long already :)
Reply
Comment removed
rodrigosmarts 4mm4
4 years ago
it seems that your fib is upside down...
Reply
4mm4 rodrigosmarts
4 years ago
its measured from the top down because it is a downtrend. After making a new low, it retraces back up and thats where the 0.618 fib level comes into play. then it bounces off of that and heads back down.......
Reply
rodrigosmarts 4mm4
4 years ago
yeah, that's why it's inverted! 100 should be on the top... think for a while and it'll make sense
Reply
4mm4 rodrigosmarts
4 years ago
but if the 100 were at the top, then there would be no fib targets for lower lows
Reply
rodrigosmarts 4mm4
4 years ago
100 is on top, because we are talking about retracement, a percentual of the previous deviation. If the price retraces all the movement back to the top, it has retraced 100%, so that's why 100 is on top..
.belive me :D
Reply
4mm4 rodrigosmarts
4 years ago
its the same if price moves down as well. If the price retraces all the movement back to the bottom, it has retraced 100%

Fib retracements can be used both ways, to see retracements for both and upward and downward move
Reply
rodrigosmarts 4mm4
4 years ago
ok
Reply
darcy kincaid PRO rodrigosmarts
4 years ago
Você é brasileiro? Se voce e, onde você mora no Brasil?
Reply
rodrigosmarts darcy kincaid
4 years ago
yeah, Maringa PR
skype: rodrigosmarts
Reply
Razvan
4 years ago
perfect :)
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out