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  • #14,061
  • Jul 11, 2008 6:05am Jul 11, 2008 6:05am
Cloud The direction will be set in exactly 1:30 and the news exepcted from the Trade balance is exepcted negative for the dollar lets see....what else can really hold the dollar up.....
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  • #14,062
  • Jul 11, 2008 6:09am Jul 11, 2008 6:09am
Quoting assamusic
And you )))
My friend I dont mean to throw anyone of course...Just telling you what I see...The euro will be at the 1.161 level max by the end of august.....
  • #14,063
  • Jul 11, 2008 6:11am Jul 11, 2008 6:11am
Quoting rav700
Cloud The direction will be set in exactly 1:30 and the news exepcted from the Trade balance is exepcted negative for the dollar lets see....what else can really hold the dollar up.....
but isn't 5800 too high to go long? btw, when (what level) would you go short?
  • #14,064
  • Jul 11, 2008 6:15am Jul 11, 2008 6:15am
Quoting Clouds
but isn't 5800 too high to go long? btw, when would you go short?
I have 5 levels of long already...This is just a scalp trade...
I am long at
790
749
725
688

I am not a master trader like all you guys here but dont like some of the newbies to get stuck in trades without thinking hence I give me 2 cents here and there...I quite like the way you think clouds good luck with your trades my friend..
And 800 is definately not the right place to go long
you would wait till Trade balnce and then take a position..
Short @ 28 for scalp not short term just a scalp would have been good
  • #14,065
  • Jul 11, 2008 6:16am Jul 11, 2008 6:16am
Hey Clouds , What is your stop loss ?
  • #14,066
  • Jul 11, 2008 6:19am Jul 11, 2008 6:19am
The next hourly bar is my focus point which should go hand in hand with the news...and give us the direction for the rest of the day imho..Also if today we close below 759 then we could see a major move to test 300 zone again...time will tell.
The only thing that is negative to my trade at present is The euro according to seasonal patterns tends to drop....in july ..Good luck all
  • #14,067
  • Jul 11, 2008 6:21am Jul 11, 2008 6:21am
Quoting onlinefx
The Euro has been in a bull market for the past 7 years or so but there is a storm brewing on the fundamental side that is not being talked about much and i think it is a very important thing to discuss in the future. Also, the monthly chart is pointing to a potential long term top in not all too long. Remember, each currency has a country backing its currency, the euro has no such thing. It was imposed on the people in anticipation of imposing on them a political union as well. Those plans seem more and more unlikely. Without a political union there will not be a single currency in the medium term. All national central banks have their national currencies in their vaults. So i think a discussion about a potential change of trend might be quiet appropriate in the near future as i think that future fundamentals that will be driving the Euro will not be that much on the economical but the political side.
I agree to that.
I just think we are not yet there and not yet seen the bottom of the USA crisis.
  • #14,068
  • Jul 11, 2008 6:27am Jul 11, 2008 6:27am
Quoting rav700
My friend I dont mean to throw anyone of course...Just telling you what I see...The euro will be at the 1.161 level max by the end of august.....
Thanks friend! I've understood you clearly as I think ))) And I simply would wish you Good Luck too )))
  • #14,069
  • Jul 11, 2008 6:28am Jul 11, 2008 6:28am
Quoting hemal011
Hey Clouds , What is your stop loss ?
5822
  • #14,070
  • Jul 11, 2008 6:30am Jul 11, 2008 6:30am
Quoting cesare76fx
I've been reading comments about Euro turning down since the 1.3 level

The Euro zone bear market will follow one day, but for the time being this is an uptrend, a strong currency against a weak currency,as simple as that.
yes, since this correction, I've been long since 1.5655, and I've built up positions since, but all the time someone would just come on the forum and give comments like the euro will fall to this, fall to that, without reasons backing, while clearly the trend is up, there's plenty of support down there, I'm always keeping an open mind, but right now above 1.5760, it's clearly well supported until it's breached..
  • #14,071
  • Jul 11, 2008 6:32am Jul 11, 2008 6:32am
Quoting Clouds
5822
clouds with news out at 1:30 there could be a spike mate even if it does decide to drop...I would not rule out a spike matey...I would move the stop 3 pips above daily R1 which is 830.... just a thought...

Happy Trading
Rav
  • #14,072
  • Jul 11, 2008 6:33am Jul 11, 2008 6:33am
LONG EUR until election but its friday.. I may go short
Money often costs too much...
  • #14,073
  • Jul 11, 2008 6:33am Jul 11, 2008 6:33am
Quoting Clouds
it's been 5800-5300 range for 3 months, it's near high, not the all time high, but close enough. ill short cause it's friday, maybe go long if i get stopped out
I read your post with attention, and you are probably right about a due correction soon, in fact I'm taking it easy (size-wise) with my actual long and waiting patiently about a better price to jump back in heavier.
As you pointed out in previous posts, this pair has been gaining an average of 4pips per day for a while with his pops, corrections and ranges.
Ideally, looking back, it would have been great if I just bought 10lots at the 1.3000 level ( just last year) and waited for my yearly salary .

That is also why I think it is better build up with the trend then catching every move. I certainly have to improve as I do have losses, but it makes me feel more comfortable when I am on the strongest side in the longer TF.
  • #14,074
  • Jul 11, 2008 6:46am Jul 11, 2008 6:46am
Why sudden up in EUR ? is this just stop hunt ?
  • #14,075
  • Jul 11, 2008 6:48am Jul 11, 2008 6:48am
I hope you moved your stop clouds...
  • #14,076
  • Jul 11, 2008 6:48am Jul 11, 2008 6:48am
the spike from 1.5690 ish from yesterday should have given the bears some ideas that we're going to go much higher, that built up to clear the 1.5750 wasn't just any spike, it was built up over a long period of time, and in this situation, it's just not going to give back so easily until the momentum is exhausted... look at the overall weakness of USD across all board... CHF, GBP & JPY
  • #14,077
  • Jul 11, 2008 6:49am Jul 11, 2008 6:49am
i exit my eu short, now i short ej, ill short eu later. : )
  • #14,078
  • Jul 11, 2008 6:52am Jul 11, 2008 6:52am
Fridays make me nervous, I took 6 shy pips on E/U and I'll wait for a retrace, if it happpens...
I know is not the right thread but I took 20pips on g/u in a 3minutes long trade, the speed of it made me decide to shut down for the week.
Have a great week end traders!
  • #14,079
  • Jul 11, 2008 6:53am Jul 11, 2008 6:53am
ok so time to book losses in EU then . I will exit my position with losses
  • #14,080
  • Jul 11, 2008 6:54am Jul 11, 2008 6:54am
its friday and its on 61.8 level.. short on AJ meanwhile
Money often costs too much...
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