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EURUSD

  • #13,601
  • Jul 8, 2008 2:27pm Jul 8, 2008 2:27pm
To me, EU looks like a really tight range, it should break out tonight/tomorrow.
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  • #13,602
  • Jul 8, 2008 2:53pm Jul 8, 2008 2:53pm
Quoting pipmac
It's beginning to like a South paw. But liquidity is kinda low right now i'll be careful about shorting for now.
@1.5651
@1.5672

Will close soon!

That Doji H4 Candle, I do not like it!

I will wait then a better short entry!
  • #13,603
  • Jul 8, 2008 3:18pm Jul 8, 2008 3:18pm
EU should have no problem breaking out up, and joining her bullish partners, GU, NU, and AU.
  • #13,604
  • Jul 8, 2008 3:33pm Jul 8, 2008 3:33pm
Quoting Clouds
EU should have no problem breaking out up, and joining her bullish partners, GU, NU, and AU.
Do you continue trying long 1,5650, tp 5800?
My English is Bad... Sorry Mi Espaņol es Bueno
  • #13,605
  • Jul 8, 2008 3:36pm Jul 8, 2008 3:36pm
Quoting SpanishPip
Do you continue trying long 1,5650, tp 5800?
yes, or 5780 maybe
  • #13,606
  • Jul 8, 2008 3:37pm Jul 8, 2008 3:37pm
I think tomorrow the correction is over and we will be back long
Money often costs too much...
  • #13,607
  • Jul 8, 2008 3:37pm Jul 8, 2008 3:37pm
Quoting Clouds
yes, or 5780 maybe
ok. I will try with you
My English is Bad... Sorry Mi Espaņol es Bueno
  • #13,608
  • Jul 8, 2008 3:47pm Jul 8, 2008 3:47pm
I am short right now - just can't resist that daily range.

By the by, I know some of you are using my multi-purpose trade manager. I have made a couple of bug fixes - nothing major unless anybody wants to use the instant trailing stop routine, but I have also fixed a bug that affected the on-screen user-feedback.


Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 20 KB
  • #13,609
  • Jul 8, 2008 3:52pm Jul 8, 2008 3:52pm
Quoting SteveHopwood
I am short right now - just can't resist that daily range.

By the by, I know some of you are using my multi-purpose trade manager. I have made a couple of bug fixes - nothing major unless anybody wants to use the instant trailing stop routine, but I have also fixed a bug that affected the on-screen user-feedback.


i can't trade that daily range anymore because EU is too close to the SMA for me to feel comfortable about trading it, and the fact that GU broke it's daily range to 2.0. Too many factors out weight that range for me. But anything is possible, Im long at the moment for a short-term target, let's see what happens.
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  • #13,610
  • Jul 8, 2008 4:27pm Jul 8, 2008 4:27pm
TL's of interest
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  • #13,611
  • Jul 8, 2008 4:28pm Jul 8, 2008 4:28pm
Quoting Clouds
i can't trade that daily range anymore because EU is too close to the SMA for me to feel comfortable about trading it, and the fact that GU broke it's daily range to 2.0. Too many factors out weight that range for me. But anything is possible, Im long at the moment for a short-term target, let's see what happens.
Attachment
Fascinating how we use the same charts and yet come to completely different conclusions. Hopefully, we all make money form those conclusions, too.

My short has been as high as +50 - I know this because my ea was set to move the sl to breakeven +2 at +50 and this has happened. I took a similar trade with gu this afternoon and the same has happened.

So, at one point today I could have banked 100 pips, but I left them on the table in the hope of banking more, based on my reading of the daily charts.

I have changed the ea parameters to move the sl every 30 pips. Maybe I will wake up tomorrow (it is 10.25 pm here in the UK) to some more locked in pips. Maybe I will wake up to a couple of closed out trades at +2 each. We shall see.

Should I have banked those two +50's? I am new to making profits from manual trades and am not used to success. In my case, greed is definitely overcoming fear for the time being.


  • #13,612
  • Jul 8, 2008 4:35pm Jul 8, 2008 4:35pm
Quoting SteveHopwood
Fascinating how we use the same charts and yet come to completely different conclusions. Hopefully, we all make money form those conclusions, too.

My short has been as high as +50 - I know this because my ea was set to move the sl to breakeven +2 at +50 and this has happened. I took a similar trade with gu this afternoon and the same has happened.

So, at one point today I could have banked 100 pips, but I left them on the table in the hope of banking more, based on my reading of the daily charts.

I have changed the ea parameters to move the sl every 30 pips. Maybe I will wake up tomorrow (it is 10.25 pm here in the UK) to some more locked in pips. Maybe I will wake up to a couple of closed out trades at +2 each. We shall see.

R/R is the best thing a trader has. Sounds not greedy, but a good system.

Should I have banked those two +50's? I am new to making profits from manual trades and am not used to success. In my case, greed is definitely overcoming fear for the time being.


R/R is best thing to me, sounds not greedy, but that you have good system, whether you make +2 or +400 pips.
  • #13,613
  • Jul 8, 2008 4:39pm Jul 8, 2008 4:39pm
I agree with DRT about next rally. According to McRae's model we should see a steady rise for several days torque EURUSD. Price target 1.6230 Stop Loss 1.5600
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  • #13,614
  • Jul 8, 2008 5:30pm Jul 8, 2008 5:30pm
Quoting waleff
HEY PEOPLE,
Im new in Forex Trading i need your help
I want to know when to know how to predict future market price when is selling or buying and at what price.
i use metatrader4 platform.
This is what I use for the future...
Works every time.

http://www.imagi-nation.com/moonstruck/question.html

OK. Look at the chart.
Is it lower on the left and higher on the right?
It's going up.
If it's higher on the left and lower on the right it's going down.
Follow the trend and the white rabbit. If you want to. The choice is yours.
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  • #13,615
  • Jul 8, 2008 5:38pm Jul 8, 2008 5:38pm
Quoting jeremiasgordillo
I agree with DRT about next rally. According to McRae's model we should see a steady rise for several days torque EURUSD. Price target 1.6230 Stop Loss 1.5600
do you honestly think we are headed to a new high????

please

explain the thinking behind this

this I want to hear
Don't chase the market, Let the market come to you
  • #13,616
  • Jul 8, 2008 5:43pm Jul 8, 2008 5:43pm
Quoting Tmac
do you honestly think we are headed to a new high????

please

explain the thinking behind this

this I want to hear
Dont know, if the average move for EU per day is 4 pip gain for the past 7 years, and the average pip gain for the past 3 months is 0, then it could be that 1000+ pip move up is in order, however, if the past 1 year the gain was too much, and going down +1000 pips is in order then. I honestly do not care about new highs or new lows, i just want the best for my trades.
  • #13,617
  • Jul 8, 2008 5:47pm Jul 8, 2008 5:47pm
Quoting Fx_Genius
This is what I use for the future...
Works every time.

http://www.imagi-nation.com/moonstruck/question.html

OK. Look at the chart.
Is it lower on the left and higher on the right?
It's going up.
If it's higher on the left and lower on the right it's going down.
Follow the trend and the white rabbit. If you want to. The choice is yours.
crude oil fell 10$ like i said it would, o0ps i meant from it's high 144, to 134
  • #13,618
  • Jul 8, 2008 6:02pm Jul 8, 2008 6:02pm
Ok Euro is not going up to the 1.62 right now.

ECB just said it is not interested in raising interest rate.

The dollar will probably raise interest rates in sept. or Aug.

Think about it where does money flow, countries w/stable economies and higher interest rates (I know other countries have higher interest rate but they are not safe havens for holding your money).

From the fundimental standpoint the dollar still looks to have some more gains on the Euro.

Techincal standpoint it still has to make through 89 200 365 Moving averages.

Look for these currencies to continue trade in a range.
  • #13,619
  • Jul 8, 2008 6:03pm Jul 8, 2008 6:03pm
I might be getting a diamond formation from crossing channels.

Well I definetly have a "hold" area for that descending channel.

I see three possible outcomes in a near future.

1. It indeed is a diamond it could reverse at soonest.
2. It's a flag (same as above).
3. It will bounce from that LTL.

Cheers to all and happy trading.
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  • #13,620
  • Jul 8, 2008 6:04pm Jul 8, 2008 6:04pm
Quoting Seepiprun

Look for these currencies to continue trade in a range.
i trade range whether it's 1.44 or 1.62.
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