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  • #8,901
  • May 8, 2008 12:09pm May 8, 2008 12:09pm
Quoting scyang
It's been bobbing right around 54 for a few hours now. Even when it gets pushed around when news came out, it seems like it always goes back to that number. Where in the chart do you see that euro still has the potential to go down?
Where in the chart do you see that it has the potential to go up ?
All I see is the trend and a move below 53 recently with a massive rebound before that suggesting probably that the big boys are getting ready for this downtrend to continue for quite a while and got some good floor seats..
On the path to Enrichment.
  • #8,902
  • May 8, 2008 12:10pm May 8, 2008 12:10pm
  •  BoHan
  • | Joined Nov 2007 | Status: Retracements are my forte! | 73 Posts
Quoting BoredToLoose
Next days will decide if price goes for 1.50 or 1.60.
If 1.5530 Breaks we will see more up moves.
If 1.5250 Breaks so 1.50 next stop.

I was bearish until 1.5350, now my sentiment is Bullish, but we could see only this up move to 1.5520 and down he goes again.
sorry , did u mean 5420 or 5530 ? haha. currently i'm still not going to try to expect anything, just thinking of trading it as it is. I just added to my positions @ 5415, with s/l at 5350. Very small lot though, bout 1% risk in this trade only.
Start Young. Think Big. Stick to It.
  • #8,903
  • May 8, 2008 12:14pm May 8, 2008 12:14pm
Quoting BoHan
bout 1% risk in this trade only.
Only 1% ? I hope you don't have your last savings in your account..
On the path to Enrichment.
  • #8,904
  • May 8, 2008 12:25pm May 8, 2008 12:25pm
Quoting BoredToLoose
Open Long at 1.5417 to TP 1.5430.

If the current H1 close above 1.5430 we go for 1.5475
If will drop, will add longs around 1.5380.
  • #8,905
  • May 8, 2008 12:28pm May 8, 2008 12:28pm
Do you technical indicators to place your trade ? Long term future for EUR/USD is still bearish.
  • #8,906
  • May 8, 2008 12:40pm May 8, 2008 12:40pm
  •  BoHan
  • | Joined Nov 2007 | Status: Retracements are my forte! | 73 Posts
Quoting Jurrasic
Only 1% ? I hope you don't have your last savings in your account..
yea man no worries haha. only 1%, so I can make another 99 mistakes if this one goes wrong at the same amount of risk haha. anw i'm just trading a mini so 1% of my account is really, little. lol. but still of course i'm taking this trade seriously.
Start Young. Think Big. Stick to It.
  • #8,907
  • May 8, 2008 12:51pm May 8, 2008 12:51pm
Quoting BoHan
yea man no worries haha. only 1%, so I can make another 99 mistakes if this one goes wrong at the same amount of risk haha. anw i'm just trading a mini so 1% of my account is really, little. lol. but still of course i'm taking this trade seriously.
That trade was for a fast pips.
Didn't work only top 1.5425.
Bulls tired for today, need a drop again, if goes today below 1.5370, I will close my long trade, I will assume the risk of a new long trade at 1.5370.
SL very tigh, I usually lost this kind of trades, because I draw a number and if drops 5 or 6 pips below I close the trade, but usually the price then rebounds!
  • #8,908
  • May 8, 2008 12:52pm May 8, 2008 12:52pm
long 5399

and fingers crossed
  • #8,909
  • May 8, 2008 12:54pm May 8, 2008 12:54pm
Quoting my2pips
long 5399

and fingers crossed


lONG WHY??
  • #8,910
  • May 8, 2008 12:54pm May 8, 2008 12:54pm
Short for 15pips.
  • #8,911
  • May 8, 2008 12:58pm May 8, 2008 12:58pm
  •  BoHan
  • | Joined Nov 2007 | Status: Retracements are my forte! | 73 Posts
haha so none of the guys now are in favour of long ? anw it's late for me here, going to bed, waking up for a better day tomorrow!

good luck guys!
Start Young. Think Big. Stick to It.
  • #8,912
  • May 8, 2008 12:59pm May 8, 2008 12:59pm
Quoting leo9
lONG WHY??
e$ will test 21 day EMA at 5584 now, I believe
  • #8,913
  • May 8, 2008 1:03pm May 8, 2008 1:03pm
Quoting my2pips
long 5399

and fingers crossed
I agree with Leo9 because 1 HR momentum, 4 HR momentum and Daily moementum is still showing down and I think it is failed to cross 1.5425 so I guess it would end up in the downward direction by at least before Friday London Session as a short term.

I think at this point it doesn't make sense to even enter into any E/U trade, instead any one can enter into G/U trade with short around 1.9546 to down to at least 1.9500 but again if someone loves to do scalping then that person can do in G/U and E/U for 20 pips - 30 pips by doing short for both as I speak.
  • #8,914
  • May 8, 2008 1:19pm May 8, 2008 1:19pm
It's not that complicated really at least in theory, because to trade it you need to be patient and I'm certainly not, which is why my main system is on 30s chart and the more I try other stuff the more I get convinced they don't work nearly as well for me (and maybe not just me...). We had us a channel between 1.6 and 1.53. The lower border has been crossed though not broken fully yet, the same did happen at 1.6 also but the momentu, there was poor while here it's quite strong plus fundumentals support the move down and it makes sense at least as a rebound before resuming the big uptrend. Now with the channel broken it's reasonable to expect it to go about those same 600-700 pips down as on such a scale these things ussualy work more or less according to technicals and that coincides with the main congestion below 1.5 at about 475. As far as GU it's almost down to it's main congestion area as well so if EU goes down GU probably goes down several hundred pips as well.

EDIT: Oh yeah, daily candle though does like a big doji so far (though it depends on time zone), so if it stays around 54 loger and closes around 54 for most people that could be a rather bullish sign.
On the path to Enrichment.
  • #8,915
  • May 8, 2008 1:28pm May 8, 2008 1:28pm
Apart from technical, if we think about fundamentals, there are many factors which will drag EUR/USD down. EUR has gained over USD substaintially and now its due to go down. I think it will consolidate for now till asian session starts.
  • #8,916
  • May 8, 2008 1:30pm May 8, 2008 1:30pm
Jurassic, I completely agree. Both EUR and GBP are poised to go down in sync. EUR should retest the 1.4850 level, and consolidate between 1.48 and 1.50 before returning to 1.60. (Don't be fooled by a probable intra-day spike below 1.48 ). As for the pound, I expect it to reach 1.90 in the coming weeks - see my technical analysis post

http://forexfactory.com/news.php?do=news&id=85637

Perfect timing to work out strategy on EUR/GBP
"Luxury is one of the basic needs", (c), Don Corleone
  • #8,917
  • May 8, 2008 1:46pm May 8, 2008 1:46pm
Quoting Jurrasic
It's not that complicated really at least in theory, because to trade it you need to be patient and I'm certainly not, which is why my main system is on 30s chart and the more I try other stuff the more I get convinced they don't work nearly as well for me (and maybe not just me...). We had us a channel between 1.6 and 1.53. The lower border has been crossed though not broken fully yet, the same did happen at 1.6 also but the momentu, there was poor while here it's quite strong plus fundumentals support the move down and it makes sense at least as a rebound before resuming the big uptrend. Now with the channel broken it's reasonable to expect it to go about those same 600-700 pips down as on such a scale these things ussualy work more or less according to technicals and that coincides with the main congestion below 1.5 at about 475. As far as GU it's almost down to it's main congestion area as well so if EU goes down GU probably goes down several hundred pips as well.

EDIT: Oh yeah, daily candle though does like a big doji so far (though it depends on time zone), so if it stays around 54 loger and closes around 54 for most people that could be a rather bullish sign.

yes...
every trader has to find the timeframe for their personality...
I also find useful the 30s chart to scalp.

but with less leverage trades I think the daily is a good one... because a day is a day... and it is a very significant cycle in our lives

I'll post some 30 seconds charts later to share some scalps
  • #8,918
  • May 8, 2008 2:11pm May 8, 2008 2:11pm
Quoting leo9
Apart from technical, if we think about fundamentals, there are many factors which will drag EUR/USD down. EUR has gained over USD substaintially and now its due to go down. I think it will consolidate for now till asian session starts.
would you eleborate on these fundis you mentioned please?
Don't chase the market, Let the market come to you
  • #8,919
  • May 8, 2008 3:32pm May 8, 2008 3:32pm
Hey guys,

On March 15th, I made this statement:

Quote
Posted by kharvell at 3/15/2008


I love my country, America. The world loves America, too. Cheaper dollars means cheaper vacations to our beloved Disney World, Grand Canyon, NYC, etc, etc.http://blog.journeyof100.com/emoticons/wink.png We are an import heavy country that will not like the higher prices we pay for our goods. Neither will other countries when we stop buying foreign and start buying more domestic. The world is comfortable with our deficit because they know that America is good for it. Why is America's deficit increasing more recently? Because we are funding a ridiculous war that none of us support. There are no economic benefits from war other than for the military sector. Maybe the outlook is not so good right now, but America has existed for a lot longer than you and I, and been in much worse situations.

America is a resilient country... Anyone who says we are going to fail is pretty funny really. So we picked a bad president twice. SORRY WORLDhttp://blog.journeyof100.com/emoticons/smile.png

It's still pretty true to me. Summer will probably be a good time for the US. 1.5000 is getting a lot closer now, and the bulls seem to be a little tired.

Of course we all know I could be wrong, but things just look too good in USA for me to think otherwise.
  • #8,920
  • May 8, 2008 4:23pm May 8, 2008 4:23pm
Time to Bed!
Price will range very tight around 1.5416/1.5390.
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