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  • #921
  • Nov 8, 2006 8:48am Nov 8, 2006 8:48am
Quoting tremon333
Are any of ya'll in on the EUR/USD? If so where is your stance and what do you predict for the currency? I think I went short on the EUR/USD too late at 1.2750 with a target of 1.2690. Do ya'll think this can happen or should I exit now because I am down currently 27 pips?
As of the now the us dollar index is steadily falling which means the euro will continue to gain on the dollar but that is always subject to change as we all know. I hope this helps. Valerie.
  • #922
  • Nov 8, 2006 9:01am Nov 8, 2006 9:01am
Quoting Money Talks
At the risk of leaving myself open to derisory comments and peals of laughter from all the techies here, on the two day chart would the two 'spikes' not constitute an inverse head & shoulders and if not, why not? I can see the head and shoulders you refer to (but not the ears or nose...)
Here is a longer look at the Head and shoulders on the weekly 3 year.

NP
Attached Image
  • #923
  • Nov 8, 2006 9:28am Nov 8, 2006 9:28am
I would stay in if you have a short. There is massive resistance at 1.2800 which the price has met twice this week and failed to break, the averages on the 30 minute and 1 hour charts are consoladating, and osmas are heading below 0 on both 30 minute and 1 hour charts. These are all indicating the begining of a downward trend. The final push downward to get this stone rolling should be tomorrow's usd trade balance, which is projected usd positive. Itme is shorting the eur/usd also and I always use her as an extra confirmation. I don't know elliot waves but I just have to look to see if she's calling for the same trade as I am and if she is, then I know the elliot waves are agreeing with me.
  • #924
  • Nov 8, 2006 9:31am Nov 8, 2006 9:31am
Quoting aicccia
I would stay in if you have a short. There is massive resistance at 1.2800 which the price has met twice this week and failed to break, the averages on the 30 minute and 1 hour charts are consoladating, and osmas are heading below 0 on both 30 minute and 1 hour charts. These are all indicating the begining of a downward trend. The final push downward to get this stone rolling should be tomorrow's usd trade balance, which is projected usd positive. Itme is shorting the eur/usd also and I always use her as an extra confirmation. I don't know elliot waves but I just have to look to see if she's calling for the same trade as I am and if she is, then I know the elliot waves are agreeing with me.
Cool...I got out of my trade in order to short at a better price...I think 1.2780-1.2790 is a good time to short the pair...I'm gonna target 1.2690 first but if it stalls around 1.2720 then I'ma take my profit and move on...I'ma get in after 4:15 so that interest does not get taken out of my account. Where are you gonna short at if you haven't already?
  • #925
  • Nov 8, 2006 9:32am Nov 8, 2006 9:32am
Cheers North Pro. So basically if it breaks 1.25 you'd be looking for a substantial down trend?
  • #926
  • Nov 8, 2006 9:40am Nov 8, 2006 9:40am
Quoting tremon333
Cool...I got out of my trade in order to short at a better price...I think 1.2780-1.2790 is a good time to short the pair...I'm gonna target 1.2690 first but if it stalls around 1.2720 then I'ma take my profit and move on...I'ma get in after 4:15 so that interest does not get taken out of my account. Where are you gonna short at if you haven't already?
I've been short since tuesday morning at 1.2770.
  • #927
  • Nov 8, 2006 9:44am Nov 8, 2006 9:44am
the shoulder is getting longer and wider as we go. A buy signal had just be triggered on bago? method. I'm looking at it right now at 9:50 PST.

edit: nevermind .. the candle's not close yet ... rsi drop below 50 again.
  • #928
  • Nov 8, 2006 9:53am Nov 8, 2006 9:53am
well well we seem to now be stuck in a channel between 1.2755 and 1.2775. If it breaks below 1.2755 then it's going to fall.
  • #929
  • Nov 8, 2006 10:19am Nov 8, 2006 10:19am
Quoting aicccia
well well we seem to now be stuck in a channel between 1.2755 and 1.2775. If it breaks below 1.2755 then it's going to fall.
And if it doesn't then it goes up. This is the problem with acting on a formation before it is complete. I wouldn't even call this trade shorting a head and shoulders because in order for it to be a head and shoulders it has to break the neck line.
  • #930
  • Nov 8, 2006 10:34am Nov 8, 2006 10:34am
All it needs is to form to form a blalck candle today, it should close in red today.. ie clsing price lower than opening price.. that is it.. if its a red candle today.. price will fall tomorrrow
fxtrada.com
  • #931
  • Nov 8, 2006 12:05pm Nov 8, 2006 12:05pm
It's nothing but consolidating..and making lower highs same for GBPUSD..early signs of a good reversal? Maybe not...maybe yes..but I am not very comfortable with the closing price.
Forex is not easy!
  • #932
  • Nov 8, 2006 12:08pm Nov 8, 2006 12:08pm
guys be patient on this will time and price will confirm our thoughts, dont jump on this too soon for the short, short squeezes might be in play above 9150... anythings possible we could even see a one day reversal on a new high, personally im sidelined sitting in cash stress free waiting like a hunter for the perfect moment... observing SR levels.
  • #933
  • Nov 8, 2006 12:14pm Nov 8, 2006 12:14pm
from a technical price action level im also seeing a 123 top forming on the 4hr chart need to see a break of the number 2 point for further weakness...
Attached Image
  • #934
  • Nov 8, 2006 3:51pm Nov 8, 2006 3:51pm
Wow...slow movement down on the EUR/USD and now its hovering around support at 1.2750...Now to me it looks like its gonna bounce back up and try to test 1.2800 again pretty soon...The downward movement has been lacking so they will try to push it up...On FXCMTR.com, they recommend that you go long above 1.2753 with a target of 1.2810...That's short term...Now in the long term, I see the pair edging down trying to test 1.2500 because if you look at the daily chart for the year...You can see that from Jun - present...It has been registering lower highs...What do you guys think about the pair direction tonight?
  • #935
  • Nov 8, 2006 4:00pm Nov 8, 2006 4:00pm
Indeed the lower highs pattern is very clear, and the monthly negative stochastic cross suggest market could be eager to retest 1,2450 pivotal soon, but that just does not have to be today or tomorrow. perhaps a new lower high is in place next to us.
Forex is not easy!
  • #936
  • Nov 9, 2006 9:58am Nov 9, 2006 9:58am
What you guys say now?
fxtrada.com
  • #937
  • Nov 9, 2006 10:24am Nov 9, 2006 10:24am
What goes up has to go down and after news there is often a retracement, particularly when the movement with the news was only marginally justifiable logically. What puzzles me is why the retracement is as delayed as it is. K would have expected it to have started by now, instead I see little to no evidence of an impending retracement. Any thoughts out there?
  • #938
  • Nov 9, 2006 10:25am Nov 9, 2006 10:25am
I just read this on FXCMTR.com...

EURUSD - The ratio of longs to shorts is -2.88 as 74.2% of the currently open orders are short. Long orders are 26.5% lower than yesterday and 24.2% weaker since last week. Short orders are 34.5% higher than yesterday and 8.2% stronger since last week. Open interest is 10.8% stronger than yesterday and 2.2% below its monthly average. Looking ahead, the SSI signals EURUSD strength.
  • #939
  • Nov 9, 2006 10:42am Nov 9, 2006 10:42am
Quoting tremon333
I just read this on FXCMTR.com...

EURUSD - The ratio of longs to shorts is -2.88 as 74.2% of the currently open orders are short. Long orders are 26.5% lower than yesterday and 24.2% weaker since last week. Short orders are 34.5% higher than yesterday and 8.2% stronger since last week. Open interest is 10.8% stronger than yesterday and 2.2% below its monthly average. Looking ahead, the SSI signals EURUSD strength.
I take note of what you say. What I do not understand is that if the majority of traders feel that this pair is going to go down, and are therefore short (the way I am also), this does not coincide with the pair being strong. Somehow either I am confused or the majority of traders are.

I guess it is comforting in some way to know that I am with the majority--I just have never been a herd beast.
  • #940
  • Edited 5:16pm Nov 15, 2006 3:36pm | Edited 5:16pm
Okay I for one am tired of waiting for the eur/usd to go down and since it's not my personality to just sit around waiting for it to happen, I'm being proactive about it.

Here's my plan.

We need to spread the word all through this site and through any other forex forums on the web for EVERYONE to max their accounts out and sell sell sell the eur/usd all at the exact same time. I know we can't start the plunge all by ourselves BUT, we can be the feather that breaks the camels back. All we have to do is make it fall a little bit and then everyone else in the world watching their charts will see the begining of the big plunge, and sell hard too.

So what should the Sell Time be? What about thursday 8am GMT?


Okay and here's my second idea.
Someone who's got a really large vocabulary and knows how to sound very offical, call one of the big banks up and tell them you're from Bank of America and you're selling...uh...lol..help me out here guys, how would they word that? Do they even deal in lots?

But thats the idea, pretend you're from another large marketmaker and convince them to start selling too.











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