New think comming up - shorting Nasdaq in couple of days. We can see the down channel that the index "crashed".

However we will give it, some more time, till the conditions are set, util the index go to upper boundary line. There are one other possible target - orange line.

Shorting is not as easy as it seems, even lot of people crying market crashing... Indexes crashing indeed, but may be crash will occure little bit later, in a week, and not right now.

So better strategie for now - watching and waiting.

Because of high volatility, last week I decided to stay away of EUR/USD for the moment,
because EUR/USD "touch" my stops 3 times, and then resume the thrend I expected, but of cource I was out of the game with some loses.

EUR/USD showing some very interesting figures, which I will post here later, or may be tomorrow, but for sure I will NOT trade for at least 4-5 days.

there are probl with file upload.

you may see the last chart here -

http://honestmoneyreport.com/forum/index.php?action=dlattach;topic=2087.0;id=617;image

EUR / USD is complete mess right now.

Interesting idea what may be happening, you may see here - http://biiwii.blogspot.com/ (July 26, 2006)

Small channel was broken in early trade, soon after reached 1.27.
In Deutsche bank analisys, they say is because lot of traders set short positions... We will see...
We were NOT set correct stop so now we "repairing" our position.
Since we are still bullish for EUR, we believe that the channel is as following, and we will hold 1-2 days more.

So far trend is up.
Here is a chart for it.
Hope will get some small money out it :)
After stock market close, and we have hopefully movement of EUR/USD up,
we will need to evaluate the target, and to move the stop where it should be
(currently my stop is related to how much I am willing to lose)

EUR/USD channel...


It looks that USD go up via the channel (image1).

No matter how you will draw upper trend boundary, the channel is broken now.


The image2 is same, but for more time. It shows what I think there is support at about 1.25, and resistance at 1.27. the resistance at 1.27 was also support one month ago.

Interesting are fibonachi levels (not on attached file) between top on 06/05/06 and bottom yesterday. We are on exactly 38%, and from recent top on 07/07/06, we are at 50%.

Im buying some EUR now...