MichaelSpangenberg

MichaelSpangenberg

My take on long term, I never go this long with a chart

MichaelSpangenberg

I'm adding to a to a theory from Stream on the possibility of EUR/USD due for a long hold on a short.

MichaelSpangenberg

It has come close to testing the support,there is a good possibility it will break the support line but then head up to the buy line. To me it looks like a head and shoulder forming to the down side. So my take is a quick short then long but look for the down trend.

MichaelSpangenberg

I know it is going to drop a little more but should retest for a double top. If it continues to drop then the target is just short of the .414f. This was a news driven spike that drove it out of structure.

MichaelSpangenberg

It seems to be having a hard time getting to the upside. As soon as it does it drops back into structure. Unless we break the .272 I think this will fallow through the way down to the 50% of the fork.

MichaelSpangenberg

My first set was correct and it broke structure to the downside. I still think it is on it's way down with little retracements back up.

MichaelSpangenberg

From What I have hear there is supposed to be a sale of an asset to pay off the debt in september. I think FXCM is going to start to pull out of the mud and get back up to par. It is going to get nailed by scalpers but the over all it's a good buy. I think the company's value is much more then the stock price right now....we shall see.

MichaelSpangenberg

I'm holding until it decides to move past some hard support lines.

MichaelSpangenberg

I don't like to trade anything that's on or near a 50% so I will do an OCO if I know one or two markets are moving strong like the US Market now that is sliding down. September should be interesting with the news with China and the Feds...

MichaelSpangenberg

New to the site and just practicing. However I am getting mixed signals from various people here so I did my own take on EURUSD. I think the EUR is due for a small pullback.