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Tuesday, February 2, 2010

SPX -FOREX

First off I have been playing FOREX EUR/USD reason why I haven't posted much about the SPX... So I would like to give a quick update on the SPX and then an introduction into forex.

SPX - It appears that we are doing a classic ABC from the low last week.. Looks like 1113 then back to 1092 then up to 1020 to 1025? Then back down. So all of the charts are bearish, which makes me believe that we are on our way to 900 to 960.... However if we don't do an ABC or close above 1130, I think the bulls are back in control and we make new highs. So we need to watch the movement closely. What do I think? I think bears are in control.. until proven otherwise.

Daily - shows support line broke - and bearish indicators... tell me we are in bearish trend until proven otherwise....

60 min SPX - red line shows my ABC prediction... If we close above 1130 i think we become bullish again...
FOREX - Below is why I have been focusing mainly on FOREX.. I start with $40 and have made $600 and some change since Jan 18th..... Look below this is all my trade and transactions.... Yep, it is worth while, but I warn RISKY. Key is 60 min and daily.. Don't look at any other charts....


FOREX 60 min eur-usd - This shows that we are currently overbought and the 60 min is about to turn over... I shorted at 1.3970 with a target of the pink line tonight sometime... Once we get to the pink line I would switch and go long again..... The current trend is bullish on the eur-usd 60 min.

FOREX daily eur-usd - this shows the trend as being overall bearish, however we are in a correction from the lows. Target for me is up in the area of the green dotted line. Notice indicators are turning bullish temporarly.

5 comments:

  1. Loser,
    I have been studing 1, 2, 4 hr charts. I found 4 hr chart the strongest and most predictable of all.I think now is the time to go long on eur/usd.....plz take a look at slow stock of period 14,3,5 and you can clearly see what I am talking about.....let me know what you think
    GL

    Gibbs

    ReplyDelete
  2. L-II,

    It is really too bad you ceased posting on Spy. You were very valuable asset.

    -Take care and good luck.

    ReplyDelete
  3. Loser what happened to you. I was checking on your updates daily for quite a while. Will you be continuing your posts on the Yahoo message boards?

    ReplyDelete
  4. This is a wonderful website!! ありがとう。 Thank you!!
    I'd be pleased if you exchange reciprocal link with me.
    お互い頑張りましょう。
    この記事の中でリンクしています。(2010/02/19)
    http://easy-happy-invest.blogspot.com/2010/02/day-chart-technical-analysis.html
    よかったらご覧になってください。

    ReplyDelete
  5. Good analysis!
    Your blog is very studied.


    ...my blog:
    forex chart analysis and a cat

    ReplyDelete