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EURUSD

  • #5,701
  • Mar 21, 2008 5:06pm Mar 21, 2008 5:06pm
Quoting PhorPhunn
Very Nice! However, I risk my entire account for every trade I make.
The definition itself of financial suicide.
Not all sins are created equal
  • #5,702
  • Mar 21, 2008 5:22pm Mar 21, 2008 5:22pm
Not if your %win is more then 99,99%
  • #5,703
  • Mar 21, 2008 6:56pm Mar 21, 2008 6:56pm
Risking the entire account is a great idea if all the money in you know what you do and all the money is money you want to lose at some point.

Moving dollars from commodities to stocks.... can this help the dollar against the euro in the longer term? I don't think so...
  • #5,704
  • Mar 22, 2008 5:12am Mar 22, 2008 5:12am
Quoting Jay Walker
The definition itself of financial suicide.
PP already mentioned he only trades one of his accounts this way and makes sure to withdraw the money relatively quickly. Besides, from his posts - he's really good.
On the path to Enrichment.
  • #5,705
  • Mar 22, 2008 7:25am Mar 22, 2008 7:25am
Hi
My personal wiev on EURUSD is that the selling that started from 1,5780's lost its momentum, at least on 1Hr chart.Technically,bullish Gartley pattern developed on 1 hr chart, I am expecting bounce from these levels:

http://img530.imageshack.us/img530/2306/adszzm7.png
  • #5,706
  • Mar 22, 2008 1:14pm Mar 22, 2008 1:14pm
Quoting PhorPhunn
Very Nice! However, I risk my entire account for every trade I make, that way 5-10 pips = 5-10%. K+ on your nice trades, though.
Same here, it's all or nothing ....
  • #5,707
  • Mar 22, 2008 4:56pm Mar 22, 2008 4:56pm
Technical analysis's models looks wonderfull, but i think, that the most important- to know fundamental data.
TA is usefull for such tools as stocks or commoditives. Forex too global for TA. But this is my opinion, if u you are pro and making real money with your tactic that's great.
About EUR/usd: today i've watched report about usd in EU. To change usd into eur really hard now. Dollar lost some of authoriy points.
But, as i said before, investors will save US. Especially investor from Oil Imperias, like Emirates or Quatar.
Fundamental >> tachnical My ICQ# 318501111
  • #5,708
  • Mar 22, 2008 5:06pm Mar 22, 2008 5:06pm
ABout USD.
This is elect year in USA. And if democracy coalition will win elections i think it's good reason to expect some changes in economy structure. Now war-budget is too high and making some troublses for economy. So it could be positive for dollar, and in summary with FED actions it would have good effect.
Fundamental >> tachnical My ICQ# 318501111
  • #5,709
  • Mar 23, 2008 10:38am Mar 23, 2008 10:38am
Just got back from Vegas, and gambling is not as easy as forex

It is in my opinion that the medium-term trend is currently bearish, the long-term trend is bullish. During the 20th and 21st we found tough support at 1.5400, which coincides with former resistance of 1.5400 between March 6th-11th. Assuming this price level is broken, I see that there could be some bearish potential, but if 1.5400 holds true, I think we're going back up.

Best of luck
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  • #5,710
  • Mar 24, 2008 2:25am Mar 24, 2008 2:25am
Euro is standing on 38.2. A strong level of support , but much depends from news on USA.
  • #5,711
  • Mar 24, 2008 2:40am Mar 24, 2008 2:40am
Quoting kharvell
Just got back from Vegas, and gambling is not as easy as forex
you're saying there is a difference between the two?
  • #5,712
  • Mar 24, 2008 2:49am Mar 24, 2008 2:49am
Quoting kharvell
former resistance of 1.5400 between March 6th-11th. Assuming this price level is broken, I see that there could be some bearish potential, but if 1.5400 holds true, I think we're going back up.
Agree... sticking to my 53-ish resistance thought from last week, and think that it may eventually go all the way back up to 1.60 and possibly beyond - come hell or high water. In fact, both will come

Making no predictions about WHEN this might occur, of course
  • #5,713
  • Edited 5:15am Mar 24, 2008 3:23am | Edited 5:15am
Quoting kharvell
Just got back from Vegas, and gambling is not as easy as forex

It is in my opinion that the medium-term trend is currently bearish, the long-term trend is bullish. During the 20th and 21st we found tough support at 1.5400, which coincides with former resistance of 1.5400 between March 6th-11th. Assuming this price level is broken, I see that there could be some bearish potential, but if 1.5400 holds true, I think we're going back up.

Best of luck
I have added on long with smal lot from 1.5350 already in profit right now..might Tped it soon..
I have done MM. If market will go down i will keep adding more positions from dips.
i am expecting EU to visit back 1.60 area and then 1.63-4 possible.

Okay just tped my EU long.. 85 pips In my pocket now done for the day
  • #5,714
  • Mar 24, 2008 5:52am Mar 24, 2008 5:52am
Quoting Hammad
I have added on long with smal lot from 1.5350 already in profit right now..might Tped it soon..
I have done MM. If market will go down i will keep adding more positions from dips.
i am expecting EU to visit back 1.60 area and then 1.63-4 possible.

Okay just tped my EU long.. 85 pips In my pocket now done for the day

I done the same trade as you. in at 5350. I am long for 1.6
  • #5,715
  • Mar 24, 2008 6:33am Mar 24, 2008 6:33am
Hi!

What's the Existing Home Sales going to mean for EUR/USD? If it's higher than expected, will the USD appreciate, if it's lower than expected, will USD depreciate?

I'm pretty new to fundamentals - please bare with me.
  • #5,716
  • Mar 24, 2008 6:53am Mar 24, 2008 6:53am
Quoting newbietrader101
I done the same trade as you. in at 5350. I am long for 1.6
1.5478-98 is a good cluster.. that's why i steeped out,I will keep re-joining it..it can do another try to break it. If that Cluster borken then confirm previous highs 1.60 or 1.63-4
  • #5,717
  • Mar 24, 2008 8:21am Mar 24, 2008 8:21am
Quoting hendrix
Hi!

What's the Existing Home Sales going to mean for EUR/USD? If it's higher than expected, will the USD appreciate, if it's lower than expected, will USD depreciate?

I'm pretty new to fundamentals - please bare with me.
Taken from Calendar section underneath Existing Home Sales:

"Measures the annualized number of existing residential buildings that were sold during the previous month. A rising trend has a positive effect on the nation's currency because large purchases tend to be made by consumers that are optimistic and confident in their financial position. The sale of a home also triggers commissions for real estate agents, and often home owners will purchase goods such as appliances and furniture shortly after purchasing a home. Traders watch this report closely as it's the month's first demand-side housing indicator to be released."
  • #5,718
  • Mar 24, 2008 9:34am Mar 24, 2008 9:34am
Quoting xxDavidxSxx

The whole market knows the $ is too low and the others are too high and just begging for a reason to bring the $ back up. News this morn wasn't neg either.

This could be the start of a top. People won't be able to resist the great interest rates long, before they refinance everything they have and start buying homes again.

America needs to go shopping and spend a bunch of money this month.

^^
I knew what was going to happen. How? I was in construction for 15 years before trading. I know the business. Feb is the slowest month and things will improve the next month. It happens every year. The interest rate statement came just before new home sales showed increase. Now the "heard" mentality will kick in and others will go buy homes now that they see improvements in the market.
And so the snow ball continues
  • #5,719
  • Mar 24, 2008 9:44am Mar 24, 2008 9:44am
Quoting kharvell
Taken from Calendar section underneath Existing Home Sales:

"Measures the annualized number of existing residential buildings that were sold during the previous month. A rising trend has a positive effect on the nation's currency because large purchases tend to be made by consumers that are optimistic and confident in their financial position. The sale of a home also triggers commissions for real estate agents, and often home owners will purchase goods such as appliances and furniture shortly after purchasing a home. Traders watch this report closely as it's the month's first demand-side housing indicator to be released."

Ups, didn't notice that. Thank you!
  • #5,720
  • Mar 24, 2008 1:57pm Mar 24, 2008 1:57pm
1.5579 is weekly pivot.

I pulled out with small profits on eur/aud and eur$.

price needs to visit the weekly pivot before continuing down.

But that would be only a single top on daily. There is usually some kind of double top. So a retest of the highest highs are not unreasonable. Some kind of last rally, followed by a sharp drop.
Just don't know when. Like I always say, keep an eye on the weekly pivot.
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