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  • #5,341
  • Mar 10, 2008 9:07am Mar 10, 2008 9:07am
Quoting sarasxxx
Does anyone also see a downtrend forming ?

Sarasxxx it all depends on what timeframe you're referring to, but longterm there isn't any downtrend for many weeks to come. Possibly in the shortterm we could see a corrective retracement before the next surge because we've had a continuous run for the last 700-800 pips or so and the market will at some point cool down to re-access the validity of prices. But as they say the trend is your friend and I do not believe in picking tops or bottoms, but rather being patient till market conditions have confirmed any changes from previous prevailing trend.

Good luck with your trading!!
  • #5,342
  • Mar 10, 2008 9:11am Mar 10, 2008 9:11am
In my opinion we will see a correction lasting the next week or 2. Today may see 5265.

http://www.bloomberg.com/apps/news?p...VoM&refer=home
USD Est Non Mortuus
  • #5,343
  • Mar 10, 2008 9:21am Mar 10, 2008 9:21am
in my opinion, dont buy the all time high no matter what, trade with the trend or trade against the trend, but make sure u use stop loss, pick tops and pick bottoms, as much as possible in any time frame, scalp when the time is right, trend only small,...:
its just money
  • #5,344
  • Mar 10, 2008 10:01am Mar 10, 2008 10:01am
unless they are 100 or so. Also it is much better to use an alarm/alert to where the stop loss should be and that way the Brokers can't kick out your stops. Shure they also make money on spreads but unless they kick out your stops, u will not need to re-enter the market. And when u lose the broker wins, as he holds the opposite side of your trade. And the Brokers are so happy to get a free lunch at your expense. So no tight stops, just alerts and alarms to alert you if the trade goes against you. Oh yes it takes more effort ... but it works. I just don't like being a sitting duck for the brokers. IMO



With this Multi Alert you can set upper and lower price alerts etc.,
Attached File(s)
File Type: mq4 MultiLevelPriceAlerts.mq4   7 KB | 493 downloads
  • #5,345
  • Mar 10, 2008 10:12am Mar 10, 2008 10:12am
I'm starting to believe there should be some retracement soon too (start in up to several hours maybe).. Based on daily, 4H and a bit on 1H. But probably not below 520.
On the path to Enrichment.
  • #5,346
  • Mar 10, 2008 10:29am Mar 10, 2008 10:29am
Quoting de123
in my opinion, dont buy the all time high no matter what, trade with the trend or trade against the trend, but make sure u use stop loss, pick tops and pick bottoms, as much as possible in any time frame, scalp when the time is right, trend only small,...:
101% agree with you.. market is to ranging now.. Only scalp is possible.
we have rumors also that Fed can announce emergency cut any time..
trade safe..
  • #5,347
  • Edited 12:36pm Mar 10, 2008 10:48am | Edited 12:36pm
I'm gonna sit on the sidelines for a while with this pair. Went with a more predictable pair USD/TRY and up 100+ pips at the moment.

Got 77 out of it.
  • #5,348
  • Mar 10, 2008 1:07pm Mar 10, 2008 1:07pm
Looking bearish on Daily here. Seems as if it closes near the lows, Asia might try to take it lower.
  • #5,349
  • Mar 10, 2008 4:54pm Mar 10, 2008 4:54pm
weekly pivot 1.5318
  • #5,350
  • Mar 10, 2008 8:24pm Mar 10, 2008 8:24pm
This pair seems confused? Or im confused....in over bought territory but I wouldnt be shocked it it keeps going up.....Where next?
  • #5,351
  • Mar 10, 2008 9:12pm Mar 10, 2008 9:12pm
Quoting slappy
This pair seems confused? Or im confused....in over bought territory but I wouldnt be shocked it it keeps going up.....Where next?
Confusion abounds!
This pair has been oversold for quite a while and it seems a lot of traders keep shorting based on the over bought (I did just to watch it go up instead of down). Monthly has been over bought since Aug-Sept and the daily has been over bought since Feb 21st - 24th (See attached). What to look for to make your trade (Do this at your own risk).
1) Follow the trend.
UP at the moment, use larger time frame.
2) Follow the oil.
Usually runs about +2% to 1.6%, this month 1.43%, Oil $108 (Today) E/U High for month so far $1.5455. Is the E/U below value or is this exchange difference?
3) Follow the world markets, oil and the news (See attached - google trading tab).
4) Follow the trend.

As for me, until I can see something other than sideways movement I will be trading other pairs with clear indicators.

Be careful out there, it's a jungle! Trade smart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR-USD_Month.JPG Size: 64 KB
Click to Enlarge Name: EUR-USD_Daily.JPG Size: 64 KB
Click to Enlarge Name: google.JPG Size: 52 KB
  • #5,352
  • Mar 10, 2008 9:59pm Mar 10, 2008 9:59pm
Hello everyone,

Just got back from beautiful Florida! The break was nice, but I'm back for more.

It seems between Sunday and today we've had some consolidation. Need I remind us all of what the 3-hour chart looks like? Allow me, below. The trend is still up. I would suspect that a CLEAR BREAK SOUTH of 1.5330 would change my bias, but until then it's anyone's guess whether it makes new highs, consolidates, or heads down. I had left a trade long since Friday that was good for 50 pips, and am still holding on to my first position entered Friday that is currently -47 pips.

Best of luck,

Kevin
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot_5.png Size: 31 KB
  • #5,353
  • Mar 10, 2008 11:24pm Mar 10, 2008 11:24pm
Quoting kharvell
Hello everyone,

Just got back from beautiful Florida! The break was nice, but I'm back for more.

It seems between Sunday and today we've had some consolidation. Need I remind us all of what the 3-hour chart looks like? Allow me, below. The trend is still up. I would suspect that a CLEAR BREAK SOUTH of 1.5330 would change my bias, but until then it's anyone's guess whether it makes new highs, consolidates, or heads down. I had left a trade long since Friday that was good for 50 pips, and am still holding on to my first position entered Friday that is currently -47 pips.

Best of luck,

Kevin
I will eat steak Tar Tar if it goes north.. I'm a veggy so I'm 99% sure it's going to break through 5300 to at least 5260 in the next 36 hours. Ill enter at 5298 short if I see it. Where were you in Fl? I live in Orlando.
USD Est Non Mortuus
  • #5,354
  • Mar 11, 2008 1:35am Mar 11, 2008 1:35am
Yaa we launch spaceships.. dollar str! flew over my house. Love night launches.
USD Est Non Mortuus
  • #5,355
  • Mar 11, 2008 2:58am Mar 11, 2008 2:58am
Since it consolidated so slong, I know believe it's only going to continue up against 530. Following the trend...
On the path to Enrichment.
  • #5,356
  • Mar 11, 2008 6:21am Mar 11, 2008 6:21am
he did it again..
  • #5,357
  • Mar 11, 2008 7:27am Mar 11, 2008 7:27am
Quoting LuckyLurker
I will eat steak Tar Tar if it goes north.. I'm a veggy so I'm 99% sure it's going to break through 5300 to at least 5260 in the next 36 hours. Ill enter at 5298 short if I see it. Where were you in Fl? I live in Orlando.

I got a big porterhouse T-bone waiting for you
  • #5,358
  • Mar 11, 2008 7:49am Mar 11, 2008 7:49am
wow.. what a rejection from 1.5500... to 1.5365 in about 20 minutes..
i guess noone believed 1.5500 for today.
  • #5,359
  • Mar 11, 2008 8:06am Mar 11, 2008 8:06am
Quoting LuckyLurker
I will eat steak Tar Tar if it goes north.. I'm a veggy so I'm 99% sure it's going to break through 5300 to at least 5260 in the next 36 hours. Ill enter at 5298 short if I see it. Where were you in Fl? I live in Orlando.
Looking forward to lunch with you. There are a lot of great steakhouses in Texas...

I went to West Palm Beach and came back with a wicked sunburn


As far as what's going on now, I'm probably going to be staying out of EUR/USD now. Looks a little crazy at the moment. I got my 50 pips for my 12th win in a row, and a quick 5 pips just by playing the volatility.
Attached Image (click to enlarge)
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  • #5,360
  • Mar 11, 2008 8:52am Mar 11, 2008 8:52am
Hmm.. what's the scare ? To me this looks like the PERFECT time to buy.
Ride this baby back to 549..
On the path to Enrichment.
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