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  • #9,061
  • May 11, 2008 6:24pm May 11, 2008 6:24pm
Quoting itechdev
Looks like it's going to head north to at least the 1.5460-1.5470 zone.

News hour soon, not going to enter until it's out
Looks like it may continue its run south below 1.5250. Resistance is looking pretty hard to break.

Volume is still a bit low, will be waiting a bit longer for this one. Could still break up yet...
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  • #9,062
  • May 11, 2008 6:36pm May 11, 2008 6:36pm
The market never closes, it's only brokers/retailers that close.

OANDA is one broker that allows trading on weekends. Just have to deal with the 10 pip spread on EUR/USD.

Have seen it occasionally move throughout the weekend, not very often though.
  • #9,063
  • May 11, 2008 8:11pm May 11, 2008 8:11pm
how many of you here are shorting or will short this pair?
  • #9,064
  • May 11, 2008 8:28pm May 11, 2008 8:28pm
shorting right now.Entered at 1.567
  • #9,065
  • May 11, 2008 8:28pm May 11, 2008 8:28pm
Quoting FxApasionado
how many of you here are shorting or will short this pair?
Not yet, price is still testing the swing high 1.5489 on the 30 minute chart and has failed three times. This is a good indication that the price may be about to change its up trend. Could also bust through, too early to tell for sure...

Looking for a run of LH (lower highs) and LL (lower lows) which indicates the change of trend.
Attached Image
  • #9,066
  • May 11, 2008 8:30pm May 11, 2008 8:30pm
Quoting itechdev
Not yet, price is still testing the swing high 1.5489 on the 30 minute chart and has failed three times. This is a good indication that the price may be about to change its up trend. Could also bust through, too early to tell for sure...

Looking for a run of LH (lower highs) and LL (lower lows) which indicates the change of trend.
Im in the same boat as you, I will be getting back on for the London session,

happy pips to all until then
  • #9,067
  • May 11, 2008 8:36pm May 11, 2008 8:36pm
Made quick 16 pips and it hit my limit. Looking for next entry now.
  • #9,068
  • May 11, 2008 8:49pm May 11, 2008 8:49pm
Quoting itechdev
Not yet, price is still testing the swing high 1.5489 on the 30 minute chart and has failed three times. This is a good indication that the price may be about to change its up trend. Could also bust through, too early to tell for sure...

Looking for a run of LH (lower highs) and LL (lower lows) which indicates the change of trend.

Good to know i'm not alone thinking of shorting this pair...
Thanks every one...
  • #9,069
  • May 11, 2008 9:40pm May 11, 2008 9:40pm
Good evening all,

am I spotting a horizontal range 1.5420-1.5482 ? Possible short breakout
could retest 1.5400 and plummet. I am expecting a London breakout to the
downside. Current daily range is 50.4 and average daily is 106. we could see
1.5400 to surrender.

Your thoughts guys ?

-Georgi
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #9,070
  • May 11, 2008 9:47pm May 11, 2008 9:47pm
Hello everyone,

Just letting you guys know I'm going on a backpacking expedition for a month, so will not be commenting or trading during this time. See you all mid-June! For fun, I put in a trade short, because I believe the dollar will strengthen throughout the next month. No S/L because I think I'm right, and it is money I can afford to lose(thus "for fun"). If you're curious, my entry price was 1.5458.

Best of luck to all,

Kevin
  • #9,071
  • May 11, 2008 10:15pm May 11, 2008 10:15pm
It smells like today price will go down once again.
I have closed my long, BE.
1.5420 Broken, H1 went to negative side, let's see if London will send this pair to 1.52 Today.
If 1.5360 is broken we go down like a rocket!
  • #9,072
  • May 11, 2008 11:46pm May 11, 2008 11:46pm
Quoting BoredToLoose
It smells like today price will go down once again.
I have closed my long, BE.
1.5420 Broken, H1 went to negative side, let's see if London will send this pair to 1.52 Today.
If 1.5360 is broken we go down like a rocket!
Agreed, hovering around 1.5400 handle is not a good thing..
Now USD goes to better bid, it's contagious..
"Building Wealth By Confidence, Consistency, & Compounding"
  • #9,073
  • May 12, 2008 12:05am May 12, 2008 12:05am
Quoting djambazov84
Good evening all,

am I spotting a horizontal range 1.5420-1.5482 ? Possible short breakout
could retest 1.5400 and plummet. I am expecting a London breakout to the
downside. Current daily range is 50.4 and average daily is 106. we could see
1.5400 to surrender.

Your thoughts guys ?

-Georgi
I don't hold any position right now so I am hoping for the pair to go one way or another. I am just wondering why ranging necessariy will lead to a short breakout. Couldn't it be that euro is gathering strength and making a strong upward move? Just at the end of last week, everybody was saying euro was making a comeback after losing for 3 weeks. That has changed all of a sudden? Could London session send it up instead?
Expected the unexpected
  • #9,074
  • Edited 12:52am May 12, 2008 12:20am | Edited 12:52am
Quoting scyang
I don't hold any position right now so I am hoping for the pair to go one way or another. I am just wondering why ranging necessariy will lead to a short breakout. Couldn't it be that euro is gathering strength and making a strong upward move? Just at the end of last week, everybody was saying euro was making a comeback after losing for 3 weeks. That has changed all of a sudden? Could London session send it up instead?
Wall Street Journal came out with an artical over the weekend stating that the Bush administration has told other governments that it will now actively support a stronger $. Asia is obviously see this as bullish for the $. It will be interesting to see how London interprets this news though.
I still personally think the E/U will rise as there is an inverted H&S forming on the 4hr and price is still staying above .5360-.5370 which is a crucial support area.
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  • #9,075
  • May 12, 2008 12:26am May 12, 2008 12:26am
Quoting scyang
I don't hold any position right now so I am hoping for the pair to go one way or another. I am just wondering why ranging necessariy will lead to a short breakout. Couldn't it be that euro is gathering strength and making a strong upward move? Just at the end of last week, everybody was saying euro was making a comeback after losing for 3 weeks. That has changed all of a sudden? Could London session send it up instead?

From a technical point of view market is taking a breather from the last swing low at 1.5285 and is in the decision area and could easily retest that low on the 8th. I am currently sitting on 5 pips profit so far my sell stop has been triggered around 12 pm NY time. Also I am liking that big M formation where 1.5484 was assaulted 3 times and now looks like bears are regaining momentum. I try to trade swings so anything above the triple top and then above 1.55 is a day off with this pair.

-Georgi
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #9,076
  • May 12, 2008 12:56am May 12, 2008 12:56am
Looks like things goin according to plan, bye bye EU EJ and Cable, see you in 600 pips.
On the path to Enrichment.
  • #9,077
  • May 12, 2008 12:59am May 12, 2008 12:59am
Quoting Tmac
I am done with this thread, ya'll dont wish to learn only argue and guess so many happy pips to you.

I make a very good livin off this market
Tmac please ignore their BS and stay. I traded the gap on Oanda for a tiny profit as well this time, despite the 10 pip spread Didn't like the r:r though..
On the path to Enrichment.
  • #9,078
  • May 12, 2008 1:04am May 12, 2008 1:04am
Quoting Jurrasic
Looks like things goin according to plan, bye bye EU EJ and Cable, see you in 600 pips.
Do you think it's broken out enough to say that euro is going down?
Expected the unexpected
  • #9,079
  • Edited 1:10am May 12, 2008 1:09am | Edited 1:10am
Oh my, this thing is falling like a rock. Somebody predicted that on the thread. Do people still believe what Bush says? Just because he says he supports a strong dollar policy, the market will go that direction? lol
Expected the unexpected
  • #9,080
  • May 12, 2008 1:12am May 12, 2008 1:12am
Quoting scyang
Do you think it's broken out enough to say that euro is going down?
If you want to play it safe (like we all should, at least in theory) I believe that at 245 would be a safe ride for 200 pips. Then possibly some rebound on 1.5 then short the retrace for another ride to near 48-475.
On the path to Enrichment.
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