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  • #2,501
  • Aug 28, 2007 10:48am Aug 28, 2007 10:48am
Quoting MackS10
Looking for a short at these levels, could take us down to the 1.3500 and lower by tomorrow.
I meant to say 1.3600 and lower by tomorrow.
  • #2,502
  • Aug 28, 2007 11:41am Aug 28, 2007 11:41am
Quoting owkenobi
I'm long EU @ 1,3650 looking for 1,39 - 1,40 (first target).

I think current "rest" of the uptrend is due to lack of confidence in the market after the turbolence of last weeks.
I agree with you, I am also long in this currency pair at 1.3650.. I am thinking of adding on another long to this pair, before the minutes come in if their is a dovish tone to the annonucements.
"Don't work for your money, but let money work for you."
  • #2,503
  • Aug 28, 2007 12:26pm Aug 28, 2007 12:26pm
Quoting chady250
I agree with you, I am also long in this currency pair at 1.3650.. I am thinking of adding on another long to this pair, before the minutes come in if their is a dovish tone to the annonucements.
Yes, FOMC minutes might resume the uptrend. I have a buy limit @ 1,3700, waiting for it.
  • #2,504
  • Aug 28, 2007 1:29pm Aug 28, 2007 1:29pm
The carry sell-off held us back once again today (as well as German CPI), and I liquidated my long at 1.3632 for a gain of 124 pips on a double position. Could have been better, but I'm happy as long as I don't lose on a trade. Will be looking to re-enter once we get back to trading by economic fundamentals rather than fear.
  • #2,505
  • Aug 28, 2007 3:04pm Aug 28, 2007 3:04pm
Woah. That downward movement in the past hour or two was brutal, especially for my long position that I created a few days ago. I am going to Short at 1.3600 if it reaches again with SL at 1.3650 and PT1: 1.3570 and PT2: at 1.3510 what do you guys think???
"Don't work for your money, but let money work for you."
  • #2,506
  • Aug 28, 2007 4:05pm Aug 28, 2007 4:05pm
Quoting chady250
Woah. That downward movement in the past hour or two was brutal, especially for my long position that I created a few days ago. I am going to Short at 1.3600 if it reaches again with SL at 1.3650 and PT1: 1.3570 and PT2: at 1.3510 what do you guys think???
I am personally staying away from EUR/USD for the moment because I think it may become less and less dependent on the carry trade sell-off, but I'm not sure when. However, if you want to short it, wait for a clear break of 1.3600 first because that is a very significant technical level. A break would most likely add to the downward momentum.

One more thing, your R:R is a bit weak (especially if you wait for a break of 1.3600)... which is not necesarily a bad thing, but it may require a bit more thought.

Hope it works out for you though.
  • #2,507
  • Aug 28, 2007 11:09pm Aug 28, 2007 11:09pm
Going long near an r/r level is a NO NO ! at least in my book ..


Quoting forex3e
The level is just one part of my pattern from low 13366. an r/r level. how good it is I dont know
  • #2,508
  • Aug 29, 2007 1:14am Aug 29, 2007 1:14am
Yea, My r/r was kinda off, but I wanted to try something different, especially with incorporating resistance and support levels. Hey check it out looks like EUR/USD wants to break through 1.3600 right now, lets see if it can go through 1.3630 at the beginning of the London open???
"Don't work for your money, but let money work for you."
  • #2,509
  • Aug 29, 2007 2:07am Aug 29, 2007 2:07am
Do you have anything at 1.3568 (support, trend) ?
  • #2,510
  • Edited 2:28am Aug 29, 2007 2:26am | Edited 2:28am
I think 1,3550 - 1,3520 levels will be a good support oncomings days.
I'm keeping my order @ 1,3650 opened.
  • #2,511
  • Aug 29, 2007 3:20am Aug 29, 2007 3:20am
I hate my self. I knew that at 1.3568 i should TP. I see clearly posible long long long position.
  • #2,512
  • Edited 4:10am Aug 29, 2007 3:52am | Edited 4:10am
Quoting MackS10
I meant to say 1.3600 and lower by tomorrow.
Your predictions were absolutely correct Congrets!

Besides, owkenobi you are also right about the support level at 1,3550 because of the uptrend line.
  • #2,513
  • Aug 29, 2007 6:02am Aug 29, 2007 6:02am
OK i just re-entered a long as price broke above the Pivot level at 1.3610 (long @ 1.3612). I had just placed the buy stop order and the next time I checked on it it had been filled with about 15 pips of profit . In any case, I am looking for a day trade here and not anything too long term... I would love to close this trade at some point during today's NY session.

In any case, I will be looking to book half-profit at 1.3680 and perhaps let the other half ride... Will decide if/when price approaches that level.

1.3585 will act as my stop loss for now.

Risk = 27 pips
Reward = 68 pips (possibly more)
Ratio = 2.5
  • #2,514
  • Aug 29, 2007 6:03am Aug 29, 2007 6:03am
shorting EUR/USD is a no no IMHO.

predictions are 1.43 - 1.45 for the eur/usd in the coming 3 - 6 months.


What do u guys think?
  • #2,515
  • Aug 29, 2007 7:00am Aug 29, 2007 7:00am
Quoting ashlee_17
shorting EUR/USD is a no no IMHO.

predictions are 1.43 - 1.45 for the eur/usd in the coming 3 - 6 months.


What do u guys think?
To see Euro at 1.43 - 1.45 in the period of 3-6 month... Well maybe... In my way of thinking 1.4 is the first farget.
  • #2,516
  • Aug 29, 2007 8:43am Aug 29, 2007 8:43am
Yes, I think EUR is heading higher in the longer term, that's why I favor going with that trend, but that doesn't mean there are no short-term opportunities to take advantage of trends within that larger trend.
  • #2,517
  • Aug 29, 2007 8:50am Aug 29, 2007 8:50am
Quoting ashlee_17
shorting EUR/USD is a no no IMHO.

predictions are 1.43 - 1.45 for the eur/usd in the coming 3 - 6 months.


What do u guys think?
I am looking for a short entry signal at this level on a 1h chart which will probably takes us down to 1.3500 by the end of the week or early next week. Make sure to cover any long positions you may have.
  • #2,518
  • Aug 29, 2007 8:52am Aug 29, 2007 8:52am
Quoting Mindaugas
Your predictions were absolutely correct Congrets!

Besides, owkenobi you are also right about the support level at 1,3550 because of the uptrend line.
Cheers, happy trading.
  • #2,519
  • Aug 29, 2007 9:03am Aug 29, 2007 9:03am
do u guys think that EU will pass the 1.3658 mark.....my 61.8% Fibo is at 1.3658 and currently its retracing down slowly....the 4hr chart shows an uptrend signal and also the 4hrMACD....any idea where it will move other than sideways??

happy trading!!
  • #2,520
  • Aug 29, 2007 10:48am Aug 29, 2007 10:48am
Quoting MackS10
I am looking for a short entry signal at this level on a 1h chart which will probably takes us down to 1.3500 by the end of the week or early next week. Make sure to cover any long positions you may have.
I will be going long at 1.37 (at the FOMC minutes) targetting 1.38. Will add more long positions at the 1.38ish level to target 1.40. Make sure you have a stop loss for your short positions.

good luck
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