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  • #10,621
  • Jun 3, 2008 8:31am Jun 3, 2008 8:31am
Quoting HarshFX
Anybody trying to catch this rollercoaster ride down?
I'd wait now if I were you so as not to get hit by the train of it lol If you wait for the daily close now and it closes as a bearish outside vertical bar, that would be indication to go short if you weren't already. THEN I would plan on shorting with a stop above the bar.
I dream, therefore I become.
  • #10,622
  • Jun 3, 2008 8:33am Jun 3, 2008 8:33am
we are at the level where it bounced up last week, and it seems to show some support again.

I will have to see a clear break of the 5450 to think about short.
  • #10,623
  • Jun 3, 2008 8:33am Jun 3, 2008 8:33am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting mike w
Get off the hourly charts or lower and that'll never affect you. Yesterday showed a reversal bar to the downside and now it's coming into play. Simple technicals on a higher timeframe showing the form are what's coming into play now. News is just the driver though because, in reality, fundamentals always play out in longer term technical analysis.
Hey there - I'd like to see the reversal candle/bar you're referring to please. Is it possible for you to post a quick screen shot?
"Wishful thinking dies hard." Igor T.
  • #10,624
  • Jun 3, 2008 8:36am Jun 3, 2008 8:36am
Quoting FxChi
Hey there - I'd like to see the reversal candle/bar you're referring to please. Is it possible for you to post a quick screen shot?
Yeah give me just a sec to get MT4 up for the shot. I cant take pics of my other charts...don't really know why.

BTW, FXchi, What is the pic in your avatar from? I've seen it before and can't remember now.
I dream, therefore I become.
  • #10,625
  • Jun 3, 2008 8:36am Jun 3, 2008 8:36am
gotta tell u guys not liking it.. i hope it bounces back cuz 70more pips and i'd liquidate
  • #10,626
  • Jun 3, 2008 8:38am Jun 3, 2008 8:38am
Throughout my experience, I've known this bar to lead to reversals a lot more often than not.
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I dream, therefore I become.
  • #10,627
  • Jun 3, 2008 8:39am Jun 3, 2008 8:39am
any one have any idea how much more it will drop?
  • #10,628
  • Jun 3, 2008 8:45am Jun 3, 2008 8:45am
on my 23.6 fib daily near support will be at 5405
  • #10,629
  • Jun 3, 2008 8:45am Jun 3, 2008 8:45am
Quoting zxr
gotta tell u guys not liking it.. i hope it bounces back cuz 70more pips and i'd liquidate
That sucks man.. That's why im staying away right now.
  • #10,630
  • Jun 3, 2008 8:47am Jun 3, 2008 8:47am
Quoting zxr
Ok i got it @ 1.5548 gonna hold it long, expecting euro to hit 5700 this week gl all trader long or short
ouch
Don't chase the market, Let the market come to you
  • #10,631
  • Jun 3, 2008 8:48am Jun 3, 2008 8:48am
Quoting greywolf238
That sucks man.. That's why im staying away right now.
Hope in trading will kill your account guys. I hate to say that because I know how it feels as I've been there before but you are going to have to realize it sooner or later. Try this- Do you see reason for taking a trade long or short RIGHT NOW at this moment? If not, then why keep your previous trade open? It would be much better for you to wait and put your money where you have more profit potential.
I dream, therefore I become.
  • #10,632
  • Jun 3, 2008 8:49am Jun 3, 2008 8:49am
I am short from 5624, god i love Trichet, i owe him a beer today
  • #10,633
  • Jun 3, 2008 8:50am Jun 3, 2008 8:50am
Do you think we'll see a head & shoulders pattern on Daily ?
  • #10,634
  • Jun 3, 2008 8:57am Jun 3, 2008 8:57am
Closed all my shorts!
Now Long @1.5434.
SL BE.

See my RANGE, hope 1.5430 holds!
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  • #10,635
  • Jun 3, 2008 8:57am Jun 3, 2008 8:57am
bought up on the way down and am expecting a rebound then ranging around 1.55
  • #10,636
  • Jun 3, 2008 9:00am Jun 3, 2008 9:00am
damn, what happened with USD? its rocketing...
  • #10,637
  • Jun 3, 2008 9:03am Jun 3, 2008 9:03am
Quoting mike w
Get off the hourly charts or lower and that'll never affect you. Yesterday showed a reversal bar to the downside and now it's coming into play. Simple technicals on a higher timeframe showing the form are what's coming into play now. News is just the driver though because, in reality, fundamentals always play out in longer term technical analysis.
You have got to be kidding me ! if it had went north i'm sure you could find a technical reason for it.

Interest rates drive the market , not a funny pattern or overbought area. Play the price action and drop the clutter.
  • #10,638
  • Jun 3, 2008 9:05am Jun 3, 2008 9:05am
Last time Bennie spoke (on a Wednesday don't know the date) & it went down like this, I blew out my account...only takes once to learn that lesson. Congrats on the short orders!! I closed my short at +17 from 5552, but I'm ok with that, considering.
  • #10,639
  • Edited 9:22am Jun 3, 2008 9:07am | Edited 9:22am
Quoting jameesnior1
You have got to be kidding me ! if it had went north i'm sure you could find a technical reason for it.

Interest rates drive the market , not a funny pattern or overbought area. Play the price action and drop the clutter.
Check out the 4 hour chart then, it was a clear bearish pin bar. Kidding now? Every sign this week is bearish so far. Double high lower close on the weekly close, yesterday's bearish bar, that 4 hour pin, and most likely the bearish outside vertical bar that could possibly close today. If it would have went north, I would have lost money but that's a could have, would have scenario that didn't happen.

P.S. the clutter makes me money so I think I'll keep it.
I dream, therefore I become.
  • #10,640
  • Jun 3, 2008 9:09am Jun 3, 2008 9:09am
Quoting jameesnior1
Interest rates drive the market , not a funny pattern or overbought area. Play the price action and drop the clutter.
That's exactly what I was saying. Interest rates are a large factor, but they do show out in the candles. Correct me if I'm wrong on that.
I dream, therefore I become.
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