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EURUSD

  • #8,461
  • May 6, 2008 12:23am May 6, 2008 12:23am
Quoting Ultraman
i'm still holding long USDCHF which is +450pips
dun worry dude
Wow 450 pips!! At what price did you get in?
Expected the unexpected
  • #8,462
  • May 6, 2008 12:24am May 6, 2008 12:24am
Quoting scyang
Thanks for the advice. It's very tricky to put sl. I have done it many times before and what happens is that the price will get to my sl and take me out and go the direction I wanted it to go after all. Very frustrating indeed. Somebody said they don't put a sl because they don't want their broker to see it and take it out. Does anybody know how it really works?
Sometimes I put S/L 10 pips away, and it works sometimes. I don't want 100% success rate on my trades, but I want lose very little when I make a trade that goes against me. It depends on having good entry. Then I move my S/L to Break Even, then to keep profit. Brokers don't look at your stops. They may look at 'All stops as a whole" but not yours!
  • #8,463
  • May 6, 2008 12:26am May 6, 2008 12:26am
Quoting Clouds
Sometimes I put S/L 10 pips away, and it works sometimes. I don't want 100% success rate on my trades, but I want lose very little when I make a trade that goes against me. It depends on having good entry. Then I move my S/L to Break Even, then to keep profit. Brokers don't look at your stops. They may look at 'All stops as a whole" but not yours!
That makes sense. The broker with its millions of dollars really shouldn't care about little me with my couple of thousand.
Expected the unexpected
  • #8,464
  • May 6, 2008 12:49am May 6, 2008 12:49am
Quoting scyang
That makes sense. The broker with its millions of dollars really shouldn't care about little me with my couple of thousand.
Look your Swissy now.
  • #8,465
  • May 6, 2008 12:56am May 6, 2008 12:56am
Quoting Clouds
Look your Swissy now.
Doesn't look like it's going anywhere. Just hanging.
Expected the unexpected
  • #8,466
  • May 6, 2008 12:59am May 6, 2008 12:59am
Quoting scyang
Doesn't look like it's going anywhere. Just hanging.
Wait 4 Minutes.
  • #8,467
  • May 6, 2008 1:06am May 6, 2008 1:06am
News:
EUR/USD (1.5516)
European & US sessions forecast levels: 1.5455/1.5585
Trend Sessions: European: Neutral/Upward
US: Neutral/Upward
Market Focus: 3:30 AM ECB President Trichet Speaks, 4:00 AM Services PMI, 5:00 AM EU PPI.
Daily Strategy: The dollar not succeeds to keep the gains by the prior week. The euro continues to gain slowly against the dollar. The forecast remain that EUR/USD will be trading again close to 1.60 in near-term. The speculations that European Central Bank will hold the interest rates unchanged continue. The new oil record yesterday also pushes the dollar to lose again. The trading strategy is to open long positions, as buy on dips. In spite the last positive fundamental news for the US economy the dollar will remain under pressure.


we will see at 3.00AM, another 1 hour from now,
i'm just close my short at +12PIpS
  • #8,468
  • May 6, 2008 1:07am May 6, 2008 1:07am
Well, it's morning for me I see I'm still in my shorts as planned, price came to my original sl at 5536 but not 5540 where I moved it a tiny bit (Thank you Andy ! ), Price is back to hourly 100 ema and seemingly right below it, on 4H it all looks like a big bearish arc preparing to collapse. I'm still in short and believe that direction
On the path to Enrichment.
  • #8,469
  • May 6, 2008 1:10am May 6, 2008 1:10am
Quoting Jurrasic
Well, it's morning for me I see I'm still in my shorts as planned, price came to my original sl at 5536 but not 5540 where I moved it a tiny bit (Thank you Andy ! ), Price is back to hourly 100 ema and seemingly right below it, on 4H it all looks like a big bearish arc preparing to collapse. I'm still in short and believe that direction
You are one brave dude, going against what all the big name analysts are saying. I hope you are right.
Expected the unexpected
  • #8,470
  • May 6, 2008 1:14am May 6, 2008 1:14am
Quoting scyang
Doesn't look like it's going anywhere. Just hanging.
Do you have SMA on your charts? Look at 4 HR, see how it bounces up off it? It's just now touching it again.
  • #8,471
  • May 6, 2008 1:15am May 6, 2008 1:15am
Quoting Jurrasic
Well, it's morning for me I see I'm still in my shorts as planned, price came to my original sl at 5536 but not 5540 where I moved it a tiny bit (Thank you Andy ! ), Price is back to hourly 100 ema and seemingly right below it, on 4H it all looks like a big bearish arc preparing to collapse. I'm still in short and believe that direction
dude, are sure u still holding ur short
u ar brave man dude
  • #8,472
  • May 6, 2008 1:23am May 6, 2008 1:23am
Quoting scyang
You are one brave dude, going against what all the big name analysts are saying. I hope you are right.
Well the strenght of my faith is a relative thing of course, at this time if I had to open a mid-term position like that - I definetly wouldn't because the bearish bias exists as I see it but very weak now. A day and a half ago it seemed to me like a much better choice to short considering the trend and all the different resistances around 55 area. Still, no reason to quit a pre-planned trade you're ok with (r:r wise) just because it's in the red for a while.
On the path to Enrichment.
  • #8,473
  • May 6, 2008 1:42am May 6, 2008 1:42am
Quoting Jurrasic
Well the strenght of my faith is a relative thing of course, at this time if I had to open a mid-term position like that - I definetly wouldn't because the bearish bias exists as I see it but very weak now. A day and a half ago it seemed to me like a much better choice to short considering the trend and all the different resistances around 55 area. Still, no reason to quit a pre-planned trade you're ok with (r:r wise) just because it's in the red for a while.
Euro hovering at 1.55. Are you breakeven yet? What euro's next move when London comes on in a few minutes? Anybody got an expectation?
Expected the unexpected
  • #8,474
  • Edited 2:13am May 6, 2008 2:01am | Edited 2:13am
Quoting scyang
Euro hovering at 1.55. Are you breakeven yet?
Nah, my shorts are way lower. But then so is the tp.

About the bull, IF it actually goes long, I'll personally wait for current high to be broken, then for 550 broken, then for 570 with the hourly 200 ema (4H ema50) then 5580 and then I'd still not long (mid-term) then I'll wait for 56 and take a long at 5610 till 5695 with sl at 5545. That I believe would be a good and safe high probability long with 65 to 85 pips r:r (or better if there's a move above 57 and I manage to catch it..). That's all IF it goes long...

EDIT: btw, looks like the Daily 50ema is right at 55 now and price failed to close above it, looks like the longer term charts don't lie - this downtrend could last for a while..
On the path to Enrichment.
  • #8,475
  • May 6, 2008 2:16am May 6, 2008 2:16am
What just happened to euro? I stepped away for 20 minutes and it dropped 30 pips. Any news came out?
Expected the unexpected
  • #8,476
  • May 6, 2008 2:23am May 6, 2008 2:23am
Quoting scyang
What just happened to euro? I stepped away for 20 minutes and it dropped 30 pips. Any news came out?
Yeah sorry, I just placed my big order...
  • #8,477
  • May 6, 2008 2:23am May 6, 2008 2:23am
Quoting scyang
What just happened to euro? I stepped away for 20 minutes and it dropped 30 pips. Any news came out?
London opened.
  • #8,478
  • May 6, 2008 2:25am May 6, 2008 2:25am
Quoting fxr
London opened.
London doesn't always beat down euro and push up usd. Doesn't make sense.
Expected the unexpected
  • #8,479
  • May 6, 2008 2:26am May 6, 2008 2:26am
Quoting scyang
London doesn't always beat down euro and push up usd. Doesn't make sense.

In this case it did.
  • #8,480
  • May 6, 2008 2:27am May 6, 2008 2:27am
Quoting scyang
London doesn't always beat down euro and push up usd. Doesn't make sense.

Well they injected some much needed liquidity back into the market.
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