What may we expect for the rest of the year?
Expert: Adam Rosen, CEO and Co-Founder at 4xLounge
Moderator: Maud Gilson, Conference Manager
Summary:
A look back at the 3rd quarter, chart developments, and what the rest of the year may look like...
Webinar presented by 4xLounge.com and FXstreet.com
Good evening. How are you?
I'm having hard time with timeframes in charts. My question is : the eur/usd chart in a weekly timeframe I can see a Head and shoulders clearly. seems to me that is forming a huge downtrend. But in a daily chart i can not see this pattern. should I wait to go short, or is it the right time ? If you could answer me I will be very grateful. Thanks a lot. By the way, great video of yours. thanks again.
Posted by: Eliamar | 10/05/2008 at 07:54
It's a great question, I agree that to sell short is a good decision, as the current trend to the downside is so evident. However with that said, I would like to wait for a better price, in other words; higher up on the charts. From the (daily charts), Fibonacci and Resistance lines intersect around the 1.4500 level. This could be an interesting long term entry, with the assumption the current trend (to the downside) will persist...
Hope it's helpful,
Adam.
adam@4xlounge.com
Posted by: Adam | 10/12/2008 at 18:08