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  • #9,261
  • May 14, 2008 8:19pm May 14, 2008 8:19pm
Seems like an inverted head in shoulder formation on H4 and could develop a bullish trend.
  • #9,262
  • May 14, 2008 8:22pm May 14, 2008 8:22pm
Quoting MackS10
Seems like an inverted head in shoulder formation on H4 and could develop a bullish trend.
Don't see the inverted head and shoulder you are referring to. If there is, it's very fuzzy and questionable. Could you post chart?
Expected the unexpected
  • #9,263
  • May 14, 2008 8:26pm May 14, 2008 8:26pm
I guess is going to unglue to the upside...
with positive expectation of EUR news and bad USD news later... and the fact that it couldn't break the pivots... all indicates to be an upside day.
  • #9,264
  • May 14, 2008 8:29pm May 14, 2008 8:29pm
Quoting scyang
Don't see the inverted head and shoulder you are referring to. If there is, it's very fuzzy and questionable. Could you post chart?
yes it is a bit strange .. not a perfect one.. but it seems valid if it breaks 1.5550
and would give a target of about 1.5800 !
  • #9,265
  • May 14, 2008 8:30pm May 14, 2008 8:30pm
Quoting emda
I guess is going to unglue to the upside...
with positive expectation of EUR news and bad USD news later... and the fact that it couldn't break the pivots... all indicates to be an upside day.
How can anyone predict what kind of news we will get later! The news has been nothing but surprises for us lately. Besides with news coming out as expected, it doesn't seem to produce the effect desired. Latest example is the US consumer price being softer than expected. It was supposed to move euro up, but didn't do a thing other than a weak spike.
Expected the unexpected
  • #9,266
  • May 14, 2008 8:30pm May 14, 2008 8:30pm
Quoting scyang
Don't see the inverted head and shoulder you are referring to. If there is, it's very fuzzy and questionable. Could you post chart?
Sure have a look. Trade are your own discretion.
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  • #9,267
  • May 14, 2008 8:33pm May 14, 2008 8:33pm
Quoting scyang
How can anyone predict what kind of news we will get later! The news has been nothing but surprises for us lately. Besides with news coming out as expected, it doesn't seem to produce the effect desired. Latest example is the US consumer price being softer than expected. It was supposed to move euro up, but didn't do a thing other than a weak spike.
it is about playing the rumor or expectation some hours before the news... not trading at the news time... closing before news to be safe or with a stop loss at break even... many times it works.
  • #9,268
  • May 14, 2008 8:34pm May 14, 2008 8:34pm
Quoting emda
it is about playing the rumor or expectation some hours before the news... not trading at the news time... closing before news to be safe or with a stop loss at break even... many times it works.
Good suggestion. Thanks.
Expected the unexpected
  • #9,269
  • May 14, 2008 8:51pm May 14, 2008 8:51pm
nice pips to everyone.. and don't be greedy
  • #9,270
  • May 14, 2008 11:05pm May 14, 2008 11:05pm
long at 1.5510
  • #9,271
  • May 14, 2008 11:17pm May 14, 2008 11:17pm
closed at 1.5521 plus 11 pips
  • #9,272
  • May 14, 2008 11:26pm May 14, 2008 11:26pm
Hi to all,

At this point, without knowing with certainty whether the euro will climb much more, my strategy is very simple: I hope to climb up very high, and when given the signal to sell, I go in short. For now, this way of operating give me pips for me everytime,without the Stop loss jump . I have been reading that today or tomorrow the priceŽd touches 1,58.00.

What do you think about this?

Thank you.

Xavi
Take care! Bloo
  • #9,273
  • May 14, 2008 11:33pm May 14, 2008 11:33pm
Considering the recent flow of fundumentals which are again mostly better for EUR and worse for USD I'd guesstimate this thing is gonna get bent back up. But of course as long as it's below 56 and above 53 - it's just ranging...
On the path to Enrichment.
  • #9,274
  • May 14, 2008 11:36pm May 14, 2008 11:36pm
within today there is no way I can see it moving up to 1.58
Maybe next week judging by the two week consolidation this thing has undergone I can see it going up, but not immediately. As subtly as it fell will be how subtly it will rise. Very sideways trading after today's news.
  • #9,275
  • May 14, 2008 11:40pm May 14, 2008 11:40pm
Quoting Gandolf
you could open an account with another broker that allowed you to hedge. but if you didn't want to leave your current broker, you could open an account with another broker and use it only for hedging. Long in one account... short in the other.

Gandy
This is a nutso idea. hedging is the same as closeing your positoin. only the brokers get rich from your spreds. they get even richer if you are forced into a margin call on one leg
look at how jacko and mark sees it.
http://www.forexfactory.com/showpost...62&postcount=5
  • #9,276
  • May 14, 2008 11:40pm May 14, 2008 11:40pm
from my chart yesterday...the long position is opened..anyone go long?
no in profit +30pips...tp is 1.5560
  • #9,277
  • May 14, 2008 11:43pm May 14, 2008 11:43pm
Quoting B@by trader
from my chart yesterday...the long position is opened..anyone go long?
no in profit +30pips...tp is 1.5560
Yep ...

Still long from 1.54

Reason here: http://www.forexfactory.com/showpost.php?p=2000021&postcount=9227

Good luck to us!!!
Rob
  • #9,278
  • May 14, 2008 11:49pm May 14, 2008 11:49pm
Quoting B@by trader
from my chart yesterday...the long position is opened..anyone go long?
no in profit +30pips...tp is 1.5560
Im looking for a dip to reenter, if I dont find it by 3:30 I will wait until ECB report comes out and find the direction from there. but in my eyes it is looking bullish for the EUR
  • #9,279
  • May 14, 2008 11:59pm May 14, 2008 11:59pm
Anyone know the cause of the sudden surge in price??
  • #9,280
  • Edited 12:56am May 15, 2008 12:45am | Edited 12:56am
Long-term, we're looking at a retracement back to the 23.6% fib line on the monthly charts (1.4990).

Follow the current up trend with your fib on the monthly chart (from about Oct 2005), you'll see every single retracement went back to the 23.6 line. It even retraces to 23.6% each time from the up trend that started in early 2002. I think we'll see 1.50 in the near future, possibly even back to 1.42.

Fibbo rarely lies.

Daily chart shows we're going to break one way or the other very soon. I'm guesstimating short, but it could go either way. I'm inclined to be on the same side of the fence as Jacko. 1.52-1.50 is only just around the corner.

Short term, the 4hr chart still says the bear is control.

If it clearly breaks 1.5555 and continues to make higher highs and higher lows, we back in the bull market for the intraday'ers.
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