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  • #10,821
  • Jun 5, 2008 2:17pm Jun 5, 2008 2:17pm
Quoting Cdawg
I trade only two currencies, primarily the Euro/USD and the cable.

The reason i trade both the Euro and the cable is that i find i trade the E/U more frequently for an average of 40-70 pips, where as when i do trade the Cable it tends to be for 150-200+ pips. Probably a trade ratio of 4:1.

So basically I find i can get pretty consistent gains outa the E/U but the "big" scores come off the cable.



I have several long positions open some in profit some not but i believe they will be soon - 1.5400, 1.5430, 1.5450, 1.5550, 1.5600 (been holding this for a bit now) - I was getting a bit concerned looking at my screen a few hours ago.. lol - TP set for 1.5700 but i'll exit when i feel i should
kool bro. hope to join ur league.lol
  • #10,822
  • Jun 5, 2008 2:36pm Jun 5, 2008 2:36pm
Quoting Firstboss
Weekly pivot point @1.5610 should offer very strong resistance.
If the price stays here after the nonfarm tomorrow this week's candle will suggest a bullish week ahead.
ok. lets c wat 2moro will bring then. I see it breaking it anyway. Daily chart seem to have build up alot of momentum to d upside.
  • #10,823
  • Jun 5, 2008 4:24pm Jun 5, 2008 4:24pm
A smart man would set a buy limit at 1.5500 and let her rip......


LOL
  • #10,824
  • Jun 5, 2008 4:25pm Jun 5, 2008 4:25pm
However, NFP changes everything.
  • #10,825
  • Edited Jun 6, 2008 12:41am Jun 5, 2008 4:53pm | Edited Jun 6, 2008 12:41am
Quoting hard1head1
However, NFP changes everything.
Yep, it sure does.

My eu long is currently +197 - not bad for a trade I was genuinely doubtful about. 140 of those are locked in by a +140 sl, so I am leaving it in place.

If the trade happens to survive until NFP tomorrow, I shall set a sl within 20 pips of the market price and hope that NFP sends the market skyrocketing, happy in the knowledge that the opposite will cost just a few pips from an already enormous profit.



  • #10,826
  • Jun 5, 2008 4:53pm Jun 5, 2008 4:53pm
Euro started to correct without touching the weekly pivot (1.9610).
This suggests that until the Nonfarm payroll data tomorrow morning the pair will be stuck between that weekly pivot and the new daily pivot (1.5518).
Halfway between the pivots is the nearest support level (yes, close to that magic x.xx65 number that always slows any EUR movement)

Most likely , right before the announcement the price will return to 1.5580-1.5590 zone
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,827
  • Jun 5, 2008 5:09pm Jun 5, 2008 5:09pm
Quoting norrismp
I got the pair in a bearish channel unless 1.5630 is broken. 60M RSI is also overbought.

My charts and analysis here:
http://piphut.com/2008/06/technical-...-the-downside/
Nice site
  • #10,828
  • Jun 5, 2008 5:31pm Jun 5, 2008 5:31pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Euro looking awesome for the long tomorrow, BUT NFP is a b**ch. Looks like an awesome Morning Star forming off the 1.5366 support/.382 fib level, and I like the upmove much better than the downmove earlier in the week. My interpretation on PA is you can tell there were buyers pushing it up as opposed to earlier in the week where someone with a lot of cash dropped it very quickly. Then I look at Gold with a daily pin bar at support so it looks like it's forming a double bottom which should help Euro. The only thing is the ADP numbers came out much better than expected earlier in the week, so I'd expect NFP to come out dollar +. I hate NFP!! Good luck guys I'm staying away till next week.

Gandolf - hope you kept to your plan b/c I think you probably banked today buddy!!
"Wishful thinking dies hard." Igor T.
  • #10,829
  • Jun 5, 2008 5:57pm Jun 5, 2008 5:57pm
Look for a pull back tonight.
  • #10,830
  • Jun 5, 2008 5:59pm Jun 5, 2008 5:59pm
Quoting hard1head1
Look for a pull back tonight.

hey hard sup bro
how was ur trade ?

whats ur view in euro for tomorrrow
  • #10,831
  • Jun 5, 2008 6:03pm Jun 5, 2008 6:03pm
I need to an expert trader who can tell me what's the Friday trend of EUR/USD. In my opinion, the trading shall moveup. Please correct me.
  • #10,832
  • Jun 5, 2008 6:05pm Jun 5, 2008 6:05pm
US always gets beat up on fridays.
  • #10,833
  • Jun 5, 2008 6:08pm Jun 5, 2008 6:08pm
Quoting derarb
I need to an expert trader who can tell me what's the Friday trend of EUR/USD. In my opinion, the trading shall moveup. Please correct me.
hi bro hows u
well usualy we r on the bottom and we have news for tomorrow it can correct the real direction for this pair
but we are still in the short channel as far as we nevber broke the 640 area

for me an not gona take any position today but waiting london period and the news in the morning
am analysing my chart if there is anything interresting will post it soon
cheers
  • #10,834
  • Jun 5, 2008 6:08pm Jun 5, 2008 6:08pm
Quoting Donyouth4eva
US always gets beat up on fridays.
Maybe this time it will fight back .....
  • #10,835
  • Jun 5, 2008 6:25pm Jun 5, 2008 6:25pm
weekly we r on the way to form a nice reversal patterns ( pin bar ) may be compited @ the end of this week
daily we r on a support level so we may see a small retrace and the continue up
4 h chart show clearly the 2 possibles to swing up if not tomorrow the next week for sure

weekly
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daily
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4 h
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  • #10,836
  • Jun 5, 2008 7:24pm Jun 5, 2008 7:24pm
Quoting Fx_Genius
I think we will be testing 1.5250 this week.
Good run for me so far..
Short stack from 1.565 to 1.54 in 50 pip steps.
At 1.54 thats 750 pips over 6 entries.

Also long on $J.
Wound up getting sl'd for +235 pips E$ but I got +113 $J with it.
Thought about doing a reverse this morning when it was around 1.5380 but didn't because $J was still climbing.

Quoting derarb
I need to an expert trader who can tell me what's the Friday trend of EUR/USD. In my opinion, the trading shall moveup. Please correct me.
1.5650 entry looks good for long, 50% fib, above weekly & daily pivots.
105.5 looks good for short $J, last time it was this high was in February.
I think I'm gonna sit out this weekend.
  • #10,837
  • Jun 5, 2008 8:10pm Jun 5, 2008 8:10pm
Interesting few days Euro. No movement for nearly two days, then 200 pips up in a fly fart.

If it stays below 1.5627, hidden divergence shows we could still be in for another downward run.
Attached Image (click to enlarge)
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  • #10,838
  • Jun 5, 2008 9:19pm Jun 5, 2008 9:19pm
Quoting FxChi
...
Gandolf - hope you kept to your plan b/c I think you probably banked today buddy!!
You are quite right. Your encouragement helped. Fended off Greer! Many thanks.
  • #10,839
  • Jun 5, 2008 11:08pm Jun 5, 2008 11:08pm
Staying long still!
  • #10,840
  • Jun 6, 2008 12:08am Jun 6, 2008 12:08am
The 4 hours and 1 hour range are stalled.

Been long since 1.5458, still in for now.

My bias is my prediction.

I also predict that it will go down at some point in the future. I'll come back later to point to this post when it happens sometime in 2010 to look like a genius.
Not all sins are created equal
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