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Help needed in OANDA + users from Malaysia 105 replies

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  • #12,521
  • May 9, 2008 4:46am May 9, 2008 4:46am
Quoting scyang
I see a reverse head and shoulder pattern for eurusd and it has also crossed over the 200 MA. Do you really think it's still in a general downtrend despite the strong upward move starting from yesterday? Many analysts are also saying euro has reversed the downtrend and is now starting to go up again. Look at http://www.bloomberg.com. There is an interview with a guy named Bennett who is saying that Dollar is near end of recovery against euro.

I am very new to forex trading, so I don't really have any experience. I would love to know your more experienced and detailed explanation as to why you went in short again. Besides, I am also in a short position, and very stuck.

Thank you.
My friend, one guy comment counts for nothing since the market player will decide to long or short....Trust your chart,thats the most important because the chart won't lie to you....For the reason of short on EU I think you can flip back sham's posting on the reason why....It's all there....Hope this will help you....
  • #12,522
  • May 9, 2008 4:59am May 9, 2008 4:59am
Short 154.80...SL 155

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  • #12,523
  • May 9, 2008 5:04am May 9, 2008 5:04am
Quoting scyang
I see a reverse head and shoulder pattern for eurusd and it has also crossed over the 200 MA. Do you really think it's still in a general downtrend despite the strong upward move starting from yesterday? Many analysts are also saying euro has reversed the downtrend and is now starting to go up again. Look at http://www.bloomberg.com. There is an interview with a guy named Bennett who is saying that Dollar is near end of recovery against euro.

I am very new to forex trading, so I don't really have any experience. I would love to know your more experienced and detailed explanation as to why you went in short again. Besides, I am also in a short position, and very stuck.

Thank you.
May I ask you one question? How many times you followed those analysts ... and how many times you profiting from it? If you are profiting from it... go on... stick with their opinion.

I am an INTRADAY trader. Those analyst mainly making analysis for Long Term or Medium Term basis. Many can happen within one day.

How many times you see PRICE shoot up non stop.. or Free Fall without RETRACING in one day? Happen sometimes. But not always. Hopefully not today.

I could be right or I could be wrong. I have my own system and I DON'T FOLLOW OTHERS. I have My SL in place.

Be responsible of your own trade and DON'T FOLLOW OTHERS BLINDLY.

These are my FINAL TRADE for this week. Too many SL been hit earlier on. Hit that SL... I am done for today.

Look at the CHART... and decide. You can also decide not to trade and stay aside. Be a THINKER... not FOLLOWER.


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  • #12,524
  • May 9, 2008 5:04am May 9, 2008 5:04am
A downclose H1 candle... looks like engulfing. Another downclose H1 candle would be a nice follow through...
  • #12,525
  • May 9, 2008 5:08am May 9, 2008 5:08am
Quoting winston
A downclose H1 candle... looks like engulfing. Another downclose H1 candle would be a nice follow through...

See you guys later... watch that candle turn red...
  • #12,526
  • May 9, 2008 5:11am May 9, 2008 5:11am
You are all very right. Thank you for setting me straight. When you are new to the business, and only know a little bit, you think you see from the chart that the price should go a certain way, and then everybody else and the hot shot analysts come out and say things that are opposite from what you thought, and the price action seems to follow it, you panic. Hope you all understand.

You are right that most of the time, these analysts are wrong! It's amazing that they continuously get invited to speak on these TV programs. If I listen to them every time, I would have no food on the table today.
Expected the unexpected
  • #12,527
  • May 9, 2008 5:30am May 9, 2008 5:30am
I think the bear is really roaring hard and loud!

Just a personal opinion, and NOT an advise. I am a newbie!
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  • #12,528
  • May 9, 2008 5:42am May 9, 2008 5:42am
What the %$#@ Got to hit my SHORT SL 1st then FREE FALL What a day!!!

Anyway... I can smell already my LONG TERM target

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  • #12,529
  • May 9, 2008 5:46am May 9, 2008 5:46am
Quoting rizk
I think the bear is really roaring hard and loud!

Just a personal opinion, and NOT an advise. I am a newbie!

Like I said earlier... As long as UJ don't Break the Downtrend line Resistance... don't border LONG on GEPPY.
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  • #12,530
  • May 9, 2008 5:51am May 9, 2008 5:51am
Changing my position 203.00 to swing as Geppy in very strong bearish. SL already in very secure profit TAYOR~
Yesterday is history. Tomorrow is a mystery. Today is a gift
  • #12,531
  • May 9, 2008 6:01am May 9, 2008 6:01am
Just my view...
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Yesterday is history. Tomorrow is a mystery. Today is a gift
  • #12,532
  • May 9, 2008 6:02am May 9, 2008 6:02am
Quoting Malaysia
Like I said earlier... As long as UJ don't Break the Downtrend line Resistance... don't border LONG on GEPPY.
Agreed.
Yesterday is history. Tomorrow is a mystery. Today is a gift
  • #12,533
  • May 9, 2008 6:09am May 9, 2008 6:09am
8:30pm USD http://www.forexfactory.com/images/m...mpact_high.gif Trade Balance Forecast -61.4B Previous -62.3B


Hmm.. if this news really impacts the US then I would be great to see Geppy free fall...
Yesterday is history. Tomorrow is a mystery. Today is a gift
  • #12,534
  • May 9, 2008 6:24am May 9, 2008 6:24am
Quoting himurasemi
8:30pm USD http://www.forexfactory.com/images/m...mpact_high.gif Trade Balance Forecast -61.4B Previous -62.3B


Hmm.. if this news really impacts the US then I would be great to see Geppy free fall...
That one being forecast to be GREEN Just be prepared for anything. Expect the UNEXPECTED. SL in place wisely. Not like my SHORT SL on Cable earlier... should have placed it above the Daily Pivot.. Duh!!! See... I make mistakes from time to time.
  • #12,535
  • May 9, 2008 6:25am May 9, 2008 6:25am
Hayya'alal Solah... Hayya'alal Falah!!!
  • #12,536
  • May 9, 2008 7:17am May 9, 2008 7:17am
Manual Fisnbury_V1

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  • #12,537
  • May 9, 2008 7:20am May 9, 2008 7:20am
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  • #12,538
  • May 9, 2008 7:28am May 9, 2008 7:28am
Papa_72 how's trading bro!!!
  • #12,539
  • May 9, 2008 7:56am May 9, 2008 7:56am
Quoting Malaysia
That one being forecast to be GREEN Just be prepared for anything. Expect the UNEXPECTED. SL in place wisely. Not like my SHORT SL on Cable earlier... should have placed it above the Daily Pivot.. Duh!!! See... I make mistakes from time to time.

8:30pm USD http://www.forexfactory.com/images/m...mpact_high.gif Trade Balance -58.2B -61.4B -61.7B

Very GREEN indeed

Quote
Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported over a given period. A rising trend has a positive effect on the nation's currency. When higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase the exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production, as domestic factories work to fill this demand.
  • #12,540
  • May 9, 2008 8:00am May 9, 2008 8:00am
Green number from the US doesn't seem to be sending eurusd straight down.
Expected the unexpected
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