This report was sent to subscribers on 11/25/09 5:00 p.m. Chicago time to be used for trading on 11/26/09. Everything is done by Howard Tyllas, no program or black box.
December Euro
After the close on 11/26/09: My pivot acted as resistance and was 151.44, just .25 from the actual high, and my support was 149.54, .37 from the actual low.
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153.34 |
152.50 |
-------------151.44 Pivot |
150.38 |
149.54 |
|
Trend |
5 day chart ......... Up (last week same day) |
Daily chart ......... Up |
Weekly chart ........ Up |
Monthly chart... Up 139.79 is the 200 day MA |
ATR 143 Extremely Overbought 97% |
December Euro Chart

Steep uptrend line near 148.00 is key support and would be 3rd time at the trend line. Weekly chart gives resistance numbers and top uptrend channel line coincides with them.
In my daily numbers on Wednesday; my resistance was .82 from the actual high, my pivot acted as support and was .24 from the actual low.
December Euro for 11/26/09:
Three main drivers in the FX are economics, earnings, and politics; I will stick with the charts and my numbers.
I will leave the fundamentals to you and stick with the technical's when trading the currencies
Euro: The realities of irresponsible and poorly targeted fiscal policies and their actions seem to weaken the dollar even though they say they are in support of a stronger dollar.
Support number was strong, and my idea of selling at resistance with a buy stop finally did not work. If you look at how many times the trade worked in the last 2 weeks alone versus a minimum loss this one time when wrong, you are the casino and ready to build another hotel with those continued odds. Each time the market sold off from resistance produced much better gains than the limited loss using a buy stop not far above your entry when it did not work.
Breakout above the 150.62 level appears to be bullish and bodes well for higher prices; but I am reluctant to buy at this level and would wait for a pull back to a support and when at oversold levels.
A warning signal for exhaustion at this level is the fact that the market gapped lower in Wednesday night's session, is at extremely overbought condition posting a 289 point rally since Monday's low to Wednesday's close (settlement).
New subscribers should take note of what I have been trying to instill in your mind, fundamentals go only so far in trading since 2003 and the funds dominance, fundamentals do little in the way of price discovery, and technical levels, lines, and gaps on the chart present opportunities no matter the reason it got there. I do not take credit for your success or failure; I only take credit for providing you the best numbers I believe that are second to none. YOU are the trader, everyone with different tolerances for pain, timeframes, account size, approaches, money management, and that are the reasons I do not tell you what to do, I only tell you what I am doing or would do if I were to trade that market. That is why YOU take the credit if you are trading well and following your plan, executing when and what you are suppose to do, and you are also the one to recognize if you are not and must take control or make adjustments. I have no problem when I take trades that lose money, but I never let the loss get out of control and try to keep the amount insignificant. Yes, as you know I have had days when I made or lost $10,000 this year, but you also knew I had 50 spreads on. I did not lose that on a trade I originally allowed to lose $1,000. "All trades are not created equal" I have said many times, and contract size is one way to control money management.
Keep a daily journal and talk to yourself that way, and if you read a week or two later that you are doing something now that you said you would not do again, then you are self destructive, feel you are not worthy to succeed by doing the right things, and must take control of yourself. Do that and you have a much better chance to improve your trading and show some better results. If you are doing things right you can reinforce why you should continue to do that, including keeping track of what you are doing intuitively. As long as your intuitiveness is working, tell what and why you did that, and when your intuitiveness is not working, it will allow you to stop. Otherwise you will not keep it real and know EXACTLY what it cost or gained.
Trading really does not take that much brains, it takes discipline, patience, execution of your plan, and the proper strategy (approach, and timeframe) based upon your personal mindset.
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Howard Tyllas
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Disclaimer: No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.









