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  • #6,561
  • Apr 13, 2008 4:25pm Apr 13, 2008 4:25pm
Quoting emadanton
and what's the reason of that Gap???

Can anyone answer me !!!
G7 met over the weekend and expressed concerns over the strength of the euro, many finance ministers expressed concerns.

also when trichet was asked he said something: the poem is as it reads, or somethingh like that
  • #6,562
  • Apr 13, 2008 4:31pm Apr 13, 2008 4:31pm
@ sertio

and do u think these "Concerns" can lead to a trend reversal???

or just a correction?


everyone what's your opinion?
  • #6,563
  • Apr 13, 2008 4:31pm Apr 13, 2008 4:31pm
Dont know if it will be filled, my majic wand is broken


Quoting koltri
It is just frank, which keeps it's gained position against dollar firmly
  • #6,564
  • Apr 13, 2008 4:32pm Apr 13, 2008 4:32pm
Quoting emadanton
and what's the reason of that Gap???

Can anyone answer me !!!
I was once told, that central banks prefere the time on Friday night shortly
before the markets close as well as sundays, shortly after it opened to do
any major transactions.
  • #6,565
  • Apr 13, 2008 4:35pm Apr 13, 2008 4:35pm
@ tojoko

thanks for ur reply man, but this means it's a temporary thing and has nothing to do with a trend reversal is that right?
  • #6,566
  • Apr 13, 2008 4:38pm Apr 13, 2008 4:38pm
Quoting emadanton
@ tojoko

thanks for ur reply man, but this means it's a temporary thing and has nothing to do with a trend reversal is that right?
"It's like a poem: it speaks by itself."

But what do you think why should the dollar now rally?
  • #6,567
  • Apr 13, 2008 4:47pm Apr 13, 2008 4:47pm
i don't think the dollar should rally now , as I've read from different sources,
the cuts made by the fed in the last period haven't got into the system yet
and there is still a lot of problems in the US
but since i read that article about the effect of G7 on the Currency market Historically
i was concerned that a trend reversal may happen

but still who am i to think anything , i just have 5 months of experience under the hood !!!
  • #6,568
  • Apr 13, 2008 4:47pm Apr 13, 2008 4:47pm
Quoting Hhrp
I'm like wth. It closed 5804 and even before forex.com open trading it opened 5698?! What kind of scam is this? Did they trade earlier that broker opens? I see their chart and trading interface is so slow, like something going on. What happening?
market moves all the time but us being retail traders cannot trade until market hours.....no scam just market reality, this is why there are gaps on sunday night
Don't chase the market, Let the market come to you
  • #6,569
  • Apr 13, 2008 4:48pm Apr 13, 2008 4:48pm
Quoting Hhrp
I'm like wth. It closed 5804 and even before forex.com open trading it opened 5698?! What kind of scam is this? Did they trade earlier that broker opens? I see their chart and trading interface is so slow, like something going on. What happening?
My ODL chart opened close to yours, it opened at 1.5695...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4-13-08.gif Size: 24 KB
  • #6,570
  • Apr 13, 2008 5:53pm Apr 13, 2008 5:53pm
Quoting Mr Smith
shorted 5838 stop 5860 target 5000

Moving stops to b/e 1.5838

Market gapped down, we should see some good retraces, then continue on
down.
  • #6,571
  • Apr 13, 2008 5:55pm Apr 13, 2008 5:55pm
Well.... A gap like that has to be traded. And if it bombs, o'well. Because when have you seen a gap like that not get filled?

Long 1.5705 and 50 pip s/l trailing 55 pips. More conservative s/l would be placed about 100 pips. But 50 gets you past the bottom wedge trend line more than adequate.
  • #6,572
  • Apr 13, 2008 6:01pm Apr 13, 2008 6:01pm
Quoting xxDavidxSxx
Well.... A gap like that has to be traded. And if it bombs, o'well. Because when have you seen a gap like that not get filled?

Long 1.5705 and 50 pip s/l trailing 55 pips. More conservative s/l would be placed about 100 pips. But 50 gets you past the bottom wedge trend line more than adequate.
Chart

http://img234.imageshack.us/img234/2...ybounceny7.gif
  • #6,573
  • Apr 13, 2008 6:04pm Apr 13, 2008 6:04pm
Quoting xxDavidxSxx
Well.... A gap like that has to be traded. And if it bombs, o'well. Because when have you seen a gap like that not get filled?

Long 1.5705 and 50 pip s/l trailing 55 pips. More conservative s/l would be placed about 100 pips. But 50 gets you past the bottom wedge trend line more than adequate.
and what's ur take profit limit ?
  • #6,574
  • Apr 13, 2008 6:08pm Apr 13, 2008 6:08pm
Now all I want to know: Discover where is the best short entry.

Aggressive: 1.5725
Moderate : 1.5775
Conservative : 1.5815

We may well see in a couple of hours a very fast down move to 1.55 to start a equal fast up move to 1.57 again.

MONDAY WILL BE MONDAY!
  • #6,575
  • Apr 13, 2008 6:13pm Apr 13, 2008 6:13pm
Quoting emadanton
and what's ur take profit limit ?
trailing s/l hits or where ever I feel is good.
  • #6,576
  • Apr 13, 2008 6:18pm Apr 13, 2008 6:18pm
Quoting xxDavidxSxx
trailing s/l hits or where ever I feel is good.
got it . thanks
  • #6,577
  • Apr 13, 2008 6:51pm Apr 13, 2008 6:51pm
Quoting emadanton
got it . thanks
I never use tp's because I want the big moves. You never know when it will be a 500 pip week long move.
  • #6,578
  • Apr 13, 2008 6:52pm Apr 13, 2008 6:52pm
Quoting BoredToLoose
Now all I want to know: Discover where is the best short entry.

Aggressive: 1.5725
Moderate : 1.5775
Conservative : 1.5815

We may well see in a couple of hours a very fast down move to 1.55 to start a equal fast up move to 1.57 again.

MONDAY WILL BE MONDAY!
As close to 1.59 as possible
  • #6,579
  • Apr 13, 2008 7:16pm Apr 13, 2008 7:16pm
Quoting xxDavidxSxx
Well.... A gap like that has to be traded. And if it bombs, o'well. Because when have you seen a gap like that not get filled?

Long 1.5705 and 50 pip s/l trailing 55 pips. More conservative s/l would be placed about 100 pips. But 50 gets you past the bottom wedge trend line more than adequate.
Too risky that 50 pips SL at this point!
GL
  • #6,580
  • Apr 13, 2008 7:27pm Apr 13, 2008 7:27pm
im not familiar with this pattern....what does it mean?
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