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  • #341
  • Apr 8, 2008 3:22am Apr 8, 2008 3:22am
Quoting zoopy
Well... that move came out of nowhere LOL. So much for that bearish view. Come to think of it, I think this spike moved more than on NFP and it's during Asian session?

I'm now switching over to a bullish view and will only take long trades. Even though my counter trend trade was profitable, for what it's worth, not only am I finding counter trend trading to be way more riskier but it's just making things more complicated than they have to be. Just find the trend and trade with it, no thinking involved. Judging by this move up, I would have made probably about 3 times more than the counter trend trade. Mind you... this is in a ranging period too and we're near the highs.

Woulda, coulda, shoulda... aRGhhHH
Hi Zoopy

I agree there with you that counter trend trading is much more riskier and it's just making trading more complicated. Best to stick to trading the main trend. Fewer trades and less stress ! I have cut right down on my trading and spending less time in front of the screen. Feeling better for it as I was starting to get "squared eyes" from constantly watching the screen !

Will catch up with you soon !

Bakuli
  • #342
  • Apr 8, 2008 8:21am Apr 8, 2008 8:21am
Quoting Bakuli
Hi Zoopy

I agree there with you that counter trend trading is much more riskier and it's just making trading more complicated. Best to stick to trading the main trend. Fewer trades and less stress ! I have cut right down on my trading and spending less time in front of the screen. Feeling better for it as I was starting to get "squared eyes" from constantly watching the screen !

Will catch up with you soon !

Bakuli
squared eyes

The best way for me, set orders and just let it play out.
  • #343
  • Apr 8, 2008 6:21pm Apr 8, 2008 6:21pm
Ok... this should be interesting once again. Bernanke is speaking tomorrow and Thursday. Will we make this hmmm 7 of 8 I think it was? This is going to be a tough one... two days in a row!
  • #344
  • Apr 8, 2008 7:08pm Apr 8, 2008 7:08pm
Quoting zoopy
Well... that move came out of nowhere LOL. So much for that bearish view. Come to think of it, I think this spike moved more than on NFP and it's during Asian session?

I'm now switching over to a bullish view and will only take long trades. Even though my counter trend trade was profitable, for what it's worth, not only am I finding counter trend trading to be way more riskier but it's just making things more complicated than they have to be. Just find the trend and trade with it, no thinking involved. Judging by this move up, I would have made probably about 3 times more than the counter trend trade. Mind you... this is in a ranging period too and we're near the highs.

Woulda, coulda, shoulda... aRGhhHH
Ther are time when I can't resist the opportunity that the counter trend trade is presenting. I just use stops when doing so.
  • #345
  • Apr 9, 2008 4:10am Apr 9, 2008 4:10am
Quoting zoopy
Ok... this should be interesting once again. Bernanke is speaking tomorrow and Thursday. Will we make this hmmm 7 of 8 I think it was? This is going to be a tough one... two days in a row!
I hope it does. Am currently long from 1.5700. Very frustrating market with price not really wanting to go one way or another.

K8
  • #346
  • Apr 9, 2008 7:25am Apr 9, 2008 7:25am
Quoting zoopy
Ok... this should be interesting once again. Bernanke is speaking tomorrow and Thursday. Will we make this hmmm 7 of 8 I think it was? This is going to be a tough one... two days in a row!
lol 7 of 8. Maybe I should start trading this. I wonder what's going to happen tomorrow.
  • #347
  • Apr 9, 2008 5:51pm Apr 9, 2008 5:51pm
This is going to be a post more on my thoughts on the Euro and current conditions.

Today's move up seemed very strong. Having Bernanke talk also didn't help since he just adds fuel to the fire. It's very possible the move up may continue through to tomorrow since he's talking again (will we make it 8 of 9?). We also have interest rate statements and a calendar full of red flags.

So... where do I think the Euro is headed next? In a previous post I stated I was bearish in the short term then changed that to bullish. I still remain bullish and have a feeling we may break 1.5900. When and if this happens, 1.6000 will most likely be taken out. The last area I see of importance is 1.5900. If price eases through that level, I think momentum will pick up very fast.
  • #348
  • Apr 10, 2008 4:22am Apr 10, 2008 4:22am
He's talking again today isn't he??? You really need to patent this concept of trading his announcements. Price just went to 1.5915. New all time high.....

Still in the trade. locked in profit at 115pips and still running.

Hope you're in on this one too.

K8
  • #349
  • Apr 10, 2008 6:11am Apr 10, 2008 6:11am
Quoting Khornate8
He's talking again today isn't he??? You really need to patent this concept of trading his announcements. Price just went to 1.5915. New all time high.....

Still in the trade. locked in profit at 115pips and still running.

Hope you're in on this one too.

K8
We made 8 of 9 haha.
  • #350
  • Apr 10, 2008 6:56am Apr 10, 2008 6:56am
Quoting zoopy
We made 8 of 9 haha.
Ah and I like your new avatar he looks like a zoopy should....
Never say never.
  • #351
  • Apr 10, 2008 7:00am Apr 10, 2008 7:00am
Quoting razldazl
Ah and I like your new avatar he looks like a zoopy should....
haha. That's how I look when I take a loss
  • #352
  • Apr 13, 2008 1:10pm Apr 13, 2008 1:10pm
I've posted two charts with areas that are of interest to me right now.

The first chart shows a lower trendline (4 hour) with two reference points. This also coincides with the 50.0% fib retracement. The price range that I will be monitoring carefully will be 1.5700-1.5650. If price dips below that, I will be updating my analysis but I'll do that when and if we get there.

The second chart shows an upper trendline. I believe that if we break strongly and hit around 1.5950, we could break the 1.6000 barrier easily.

So... areas to watch out for:
upside: 1.5950
downside: 1.5700/1.5650
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd_4hour_trendline50.gif Size: 15 KB
Click to Enlarge Name: eurusd_4hour_uppertrendline.gif Size: 13 KB
  • #353
  • Apr 13, 2008 2:17pm Apr 13, 2008 2:17pm
lol, had to post this chart from Oanda because this has got to be the BIGGEST spike I have ever seen and the markets aren't even open yet.

The last time I checked this morning when I was preparing for trading this week my chart showed 1.5802. We then shot up to 1.5932 and down to 1.5654 within 2 hours?!

So... up 130 pips, down 278. Hmmm intervention?
Attached Image (click to enlarge)
Click to Enlarge Name: eurospike.JPG Size: 69 KB
  • #354
  • Edited 6:13pm Apr 13, 2008 4:03pm | Edited 6:13pm
Quoting zoopy
lol, had to post this chart from Oanda because this has got to be the BIGGEST spike I have ever seen and the markets aren't even open yet.

The last time I checked this morning when I was preparing for trading this week my chart showed 1.5802. We then shot up to 1.5932 and down to 1.5654 within 2 hours?!

So... up 130 pips, down 278. Hmmm intervention?
.... and loving it...
no intervention... yet. just panic of few weak longs...
  • #355
  • Apr 13, 2008 4:14pm Apr 13, 2008 4:14pm
Quoting raczekfx
.... and loving it...
I'm buying lol. Sorry but these prices are good and a good deal for me. If i'm wrong I'm wrong but at least I'm with the major trend.
  • #356
  • Apr 13, 2008 4:37pm Apr 13, 2008 4:37pm
Quoting zoopy
lol, had to post this chart from Oanda because this has got to be the BIGGEST spike I have ever seen and the markets aren't even open yet.

The last time I checked this morning when I was preparing for trading this week my chart showed 1.5802. We then shot up to 1.5932 and down to 1.5654 within 2 hours?!

So... up 130 pips, down 278. Hmmm intervention?
Hey Zoopy,

on my platform there was no upward spike only the one down to the 1.5660ish level and now around 1.5700. I am using an Aussie platform, being CMC markets. So I am not sure if it is your platform or mine that is correct. Anyone with 1.59 TPs would be happy with yours...

K8

Sorry, I have no idea how to post the chart from this platform.
  • #357
  • Edited 4:55pm Apr 13, 2008 4:42pm | Edited 4:55pm
Quoting zoopy
I'm buying lol. Sorry but these prices are good and a good deal for me. If i'm wrong I'm wrong but at least I'm with the major trend.
lol... of course it is up.. .kind of wonder who's silently selling....
.
Attached Image
  • #358
  • Apr 13, 2008 4:55pm Apr 13, 2008 4:55pm
Quoting zoopy
I'm buying lol. Sorry but these prices are good and a good deal for me. If i'm wrong I'm wrong but at least I'm with the major trend.
Yeah Zoop! My long executed at 1.5669. I hope that it pans out for some pips over the next couple of days.
  • #359
  • Apr 13, 2008 5:36pm Apr 13, 2008 5:36pm
Quoting raczekfx
lol... of course it is up.. .kind of wonder who's silently selling....
.
What's interesting about your chart is it's similar to what I posted on page 1 of my journal but it was the eurgbp. I thought there was going to be an extreme pullback or a sideways movement. Instead it shot up even more.

If we do go down though I hope we go far down so I can buy at a much better price. Just not sure about this move down. Something similar I remember happened with eurjpy when everyone was saying it's too high. Then there was talk of intervention and it went down very fast, only to come back just as fast and continue up for another 1000 pips.
  • #360
  • Apr 13, 2008 5:37pm Apr 13, 2008 5:37pm
Quoting KissFan
Yeah Zoop! My long executed at 1.5669. I hope that it pans out for some pips over the next couple of days.
Nice entry Kiss. I entered at 1.5700.
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