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  • #2,821
  • Oct 5, 2007 8:56am Oct 5, 2007 8:56am
Evening / Morning

Looks like the retrace on the daily eurusd has finished though I won't know for sure until Monday. Meanwhile I'm long intraday from 1.4078, should be good for 150 pips I hope.


  • #2,822
  • Oct 5, 2007 8:57am Oct 5, 2007 8:57am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting DutchTrader
So much for that thought, let[s see what happens through 1.4160

stalling at the moment, i still see more drops, but overall my position is long.
  • #2,823
  • Oct 8, 2007 6:28am Oct 8, 2007 6:28am
The forgotten thread LOL...

Let's go...

Signs that European officials are growing increasingly worried about the euro's elevated levels also kept the single European currency from making further gains.

European Central Bank Executive Board member Lorenzo Bini Smaghi said in an interview published on Sunday that if policymakers want to take action on the euro they are not tied to upcoming Group of Seven meetings.
On Monday German Economy Minister Michael Glos added to the rhetoric on the euro saying he was concerned about the weak dollar, particularly if it continued to decline..

Their comments put the spotlight on Europe's finance and economy ministers meeting in Luxembourg on Monday and Tuesday, ahead of the G7 sessions at the end of next week.


"People are nervous about the upcoming European economic finance ministers' meeting and what they may say about the strength of the euro," Stretch said.

Full story
  • #2,824
  • Oct 8, 2007 6:37am Oct 8, 2007 6:37am
Sorry for this mess... I still don't know which fib is running the show here, well, possibly both.

The yellow starts at 3358 and the magenta at 3551.

IBFX has a top at 4300 but I guess this is wrong, by the comments I've seen that toppish was 4280 or something...

Right now we have 23% magenta fib well traded and breached, 23% yellow traded on NFP but not yet breached.

This 23% yellow at 4062 matches with the weekly trendline (white) that was broken on the way up. So easily that I am not convinced that it will play too hard a support now. We got to wait and see around this level.

3900 or anything in the mid 38s are prices to start building long positions imo.
Attached Image
  • #2,825
  • Oct 8, 2007 7:51am Oct 8, 2007 7:51am
Trendlines, techs and indicators(ewww!) in a cesarnc post.

I never thought I'd see the day

Maybe it's the wrong FF...
Trust price. Know yourself.
  • #2,826
  • Oct 8, 2007 7:56am Oct 8, 2007 7:56am
Quoting SeekingLight
Trendlines, techs and indicators(ewww!) in a cesarnc post.

I never thought I'd see the day

Maybe it's the wrong FF...
Euro is a pair that goes pretty well through fib levels in corrections.

There are market's sentiment backing this view, too. But I didn't comment.
  • #2,827
  • Oct 8, 2007 7:36pm Oct 8, 2007 7:36pm
FYI... European Central bank is worried about the rise in this pair (don't ask me why, but they are)... they actually want it to devaluate... pair's been going down since... i actually placed a sell order 1.4110... still thinking about the t/p but i'm betting it's gonna be a considerable dip.
  • #2,828
  • Oct 8, 2007 8:07pm Oct 8, 2007 8:07pm
Wonder if a picture liike this might happen off daily chart?

http://img166.imageshack.us/img166/4...tthrustby0.png
Check Mate GAME OVER
  • #2,829
  • Oct 8, 2007 8:47pm Oct 8, 2007 8:47pm
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting invicta79
FYI... European Central bank is worried about the rise in this pair (don't ask me why, but they are)... they actually want it to devaluate... pair's been going down since... i actually placed a sell order 1.4110... still thinking about the t/p but i'm betting it's gonna be a considerable dip.
Me too, I bet it could be 1.36XX the least..

"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #2,830
  • Oct 9, 2007 2:06am Oct 9, 2007 2:06am
Quoting CWH
Me too, I bet it could be 1.36XX the least..

i think 1.37** is possible
  • #2,831
  • Oct 9, 2007 2:49am Oct 9, 2007 2:49am
bounces right off the trendlind
back up we go??
Just Trade It
  • #2,832
  • Oct 9, 2007 2:50am Oct 9, 2007 2:50am
chart
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 20 KB
Just Trade It
  • #2,833
  • Oct 9, 2007 4:25am Oct 9, 2007 4:25am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
good bounce of the TL as shown in BWR charts, however i still think this has a deeper retracement left in it to around 1.3920 give or take a few pips.

just my view, will go long again from 1.4000.
  • #2,834
  • Oct 9, 2007 7:31am Oct 9, 2007 7:31am
I think 90% of traders here are trend traders
  • #2,835
  • Oct 9, 2007 8:05am Oct 9, 2007 8:05am
Quoting MPP
good bounce of the TL as shown in BWR charts, however i still think this has a deeper retracement left in it to around 1.3920 give or take a few pips.

just my view, will go long again from 1.4000.

I will go either direction but here is a bullish view,
Euro has stoped right on that upper channel trend line
and even flirted with it once more meaning they really like each other
actually as you can see they have been dating for awhile now
This could be a spring board for it to head up into a new price channel.

But as soon as I hit the submit reply button it will drop like a rock
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 20 KB
Just Trade It
  • #2,836
  • Oct 9, 2007 8:26am Oct 9, 2007 8:26am
Can anyone help me how to draw a trendline? I am completely newbie in that trading style!
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  • #2,837
  • Oct 9, 2007 8:46am Oct 9, 2007 8:46am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting vinnie99
Can anyone help me how to draw a trendline? I am completely newbie in that trading style!

HI Vinne

start off in the high time frames (daily/weekly), look for three points that to the eyes line up, or if you have a point (either the highest or lowest) start there and draw a line from it to the next hi/low point.

in my view three points should be lined up, once you have grasped the consept and have a better idea you can use 2 points on lower time frames to help with entry and exits.

so as an example
open the eur/usd chart in weekly
start a line from the lowest point around march 2006 (there is one point lower but is not part of the current TL)
extend it to touch 2 other points Oct2006 and Jul 2007.

hope this helps, i'm sure there are books and web sites for this, i just did it this way and compared to other posted charts.

MPP
  • #2,838
  • Oct 9, 2007 8:54am Oct 9, 2007 8:54am
Quoting MPP
HI Vinne

start off in the high time frames (daily/weekly), look for three points that to the eyes line up, or if you have a point (either the highest or lowest) start there and draw a line from it to the next hi/low point.

in my view three points should be lined up, once you have grasped the consept and have a better idea you can use 2 points on lower time frames to help with entry and exits.

so as an example
open the eur/usd chart in weekly
start a line from the lowest point around march 2006 (there is one point lower but is not part of the current TL)
extend it to touch 2 other points Oct2006 and Jul 2007.

hope this helps, i'm sure there are books and web sites for this, i just did it this way and compared to other posted charts.

MPP




I think he was being sarcastic
Just Trade It
  • #2,839
  • Oct 9, 2007 8:59am Oct 9, 2007 8:59am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
I think he was being sarcastic


probably, but he asked and i felt someone might want to know. i'm bored you see. nothing to do for an hour, so killing time.

almost started scalpping. on GJ, how bored am i.
  • #2,840
  • Oct 9, 2007 9:02am Oct 9, 2007 9:02am
Quoting MPP
probably, but he asked and i felt someone might want to know. i'm bored you see. nothing to do for an hour, so killing time.

almost started scalpping. on GJ, how bored am i.

Never start scalping GJ because of boredom

Watching euro waiting for a decent long signal or a short one.
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