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  • #14,221
  • Jul 12, 2008 3:18pm Jul 12, 2008 3:18pm
EURUSd right now is at a major level. It is the 78.6% fib expansion of the 1-2-3 monthly buy set up

Typically if the 78.6 is broken we go to the 127 % level , which in the case of the eur is 1.8670 on the monthly chart.
Blogging daily now at www.volume.zone
  • #14,222
  • Jul 12, 2008 3:20pm Jul 12, 2008 3:20pm
Quoting malcolmb14
EURUSd right now is at a major level. It is the 78.6% fib expansion of the 1-2-3 monthly buy set up

Typically if the 78.6 is broken we go to the 127 % level , which in the case of the eur is 1.8670 on the monthly chart.
how far do u think it will go?
  • #14,223
  • Jul 12, 2008 3:27pm Jul 12, 2008 3:27pm
Quote
If I want to pay the 10 pip spread I can enter an order right now. Brokers close, the forex market never closes. It just rarely moves over the weekend

I make a good living from playing gaps sunday from markets moves on the weekends. Please do not post things that you do not know for a fact as there are many newbies here that take everything posted as gospel

the market moves every weeknd, sometimes more much more than others but it does move every weekend
Don't chase the market, Let the market come to you
  • #14,224
  • Jul 12, 2008 3:28pm Jul 12, 2008 3:28pm
Quoting mikegonzalez
how far do u think it will go?
Once it test 1.1.6014 then we will have to see if we get a break out of that level. Right now the daily is looking very bullish.
Blogging daily now at www.volume.zone
  • #14,225
  • Jul 12, 2008 3:37pm Jul 12, 2008 3:37pm
Hi everyone

I am new to this thread but not completely new to forex trading.

I like to trade the USD pairs (and indices) as part of a correlated strategy using oil and gold to help give direction. Does anyone else trade EURUSD like this?

I find it filters out many bad trades and you can cash in on the strongest moves when they happen. It is proving to be quite successful for me.

I would love to hear the views of anyone else on this approach.
  • #14,226
  • Jul 12, 2008 3:39pm Jul 12, 2008 3:39pm
Quoting Tmac
I make a good living from playing gaps sunday from markets moves on the weekends. Please do not post things that you do not know for a fact as there are many newbies here that take everything posted as gospel

the market moves every weeknd, sometimes more much more than others but it does move every weekend
Correct the market moves over the weekend since the banks are still trading.
  • #14,227
  • Jul 12, 2008 3:53pm Jul 12, 2008 3:53pm
Quoting Tmac
I make a good living from playing gaps sunday from markets moves on the weekends. Please do not post things that you do not know for a fact as there are many newbies here that take everything posted as gospel

the market moves every weeknd, sometimes more much more than others but it does move every weekend
If will help I can open and close and order and post the transaction if you want? Today.
  • #14,228
  • Edited 6:05pm Jul 12, 2008 5:42pm | Edited 6:05pm
The monthly chart looks like it will cap the EU at 1.62 or so, The weekly chart looks like the TL will limit the downside to 1.55-ish. I'm looking at a target of 1.55 for my trading plan. WHEN the monthly and weekly TL's meet up, (which will be in a few months) I think the monthly TL will win, and we'll see 1.35.
Monthly...
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 2.png Size: 17 KB


Weekly...The upper line is showing the TL I drew on Monthly
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 4.png Size: 19 KB
  • #14,229
  • Jul 12, 2008 6:01pm Jul 12, 2008 6:01pm
Quoting Clouds
The monthly chart looks like it will cap the EU at 1.62 or so, The weekly chart looks like the TL will limit the downside to 1.55-ish. I'm looking at a target of 1.55 for my trading plan. WHEN the monthly and weekly TL's meet up, (which will be in a few months) I think the monthly TL will win, and we'll see 1.35.
Monthly...
Attachment

Weekly...The upper line is showing the TL I drew on Monthly
Attachment
Clouds do you use any messenger? I would like to talk with you further.

Thanks
  • #14,230
  • Jul 12, 2008 6:08pm Jul 12, 2008 6:08pm
Quoting mikegonzalez
Clouds do you use any messenger? I would like to talk with you further.

Thanks
yeah, i sent you an email
  • #14,231
  • Jul 12, 2008 8:07pm Jul 12, 2008 8:07pm
scalping is sure easier but anyone see a double top at 6019with reversal to 1.4967 ?

now this is playing the monthly chart, so were not talking about tomorrow here !

enjoy and trade well,

mp

(hmmmm --- theres a 6312 showing up there in the sky thats just winking and blinking ! Worth watching methinks.
  • #14,232
  • Jul 12, 2008 9:05pm Jul 12, 2008 9:05pm
I agree that markets are influenced 7 days a week 24 hours a day. But the interbank is the exchange, well so to speak. It closes guy's I have a demo account with Hotspot FX looking at it now no quotes from the interbank. there are no quotes from US close Friday 6am to New Zealand open Melbourne time 6:30am in the morning.

So I don't agree markets a quoted 7 days a week on the forex. All my brokers are not quoting. GFT Alpari and Hotspot (demo) and Oanda.

Yes FX does gap seen it many time come Monday morning open.

Hey If I am wrong let me know. But I know right now I can't make a trade on the EUR/USD cross.

Cheers
  • #14,233
  • Jul 12, 2008 9:16pm Jul 12, 2008 9:16pm
same here 2 with real account..
  • #14,234
  • Jul 12, 2008 9:28pm Jul 12, 2008 9:28pm
Quoting >Apocalypto<
I agree that markets are influenced 7 days a week 24 hours a day. But the interbank is the exchange, well so to speak. It closes guy's I have a demo account with Hotspot FX looking at it now no quotes from the interbank. there are no quotes from US close Friday 6am to New Zealand open Melbourne time 6:30am in the morning.

So I don't agree markets a quoted 7 days a week on the forex. All my brokers are not quoting. GFT Alpari and Hotspot (demo) and Oanda.

Yes FX does gap seen it many time come Monday morning open.

Hey If I am wrong let me know. But I know right now I can't make a trade on the EUR/USD cross.

Cheers
Quoting Fx_Genius
If will help I can open and close and order and post the transaction if you want? Today.
Ticket # 372301681
Date/Time Jul 12, 21:15 CDT (Saturday, July 12th 2008 at 9:15 PM)
Buy 1 EUR/USD.
The black smudges are personal/acct info.
I hope this ends the "Closed Weekend" conflict.
PS. I left it open, maybe I can make a few more pennys!
Attached Image
  • #14,235
  • Jul 12, 2008 9:37pm Jul 12, 2008 9:37pm
Quoting Fx_Genius
Ticket # 372301681
Date/Time Jul 12, 21:15 CDT (Saturday, July 12th 2008 at 9:15 PM)
Buy 1 EUR/USD.
The black smudges are personal/acct info.
I hope this ends the "Closed Weekend" conflict.
PS. I left it open, maybe I can make a few more pennys!
I still don't agree mate the interbank is closed.

final quote on Apari is 1.5937

HotSpot FX has no quotes nor can even open a ticket they're a direct ECN.
  • #14,236
  • Jul 12, 2008 9:47pm Jul 12, 2008 9:47pm
Quoting >Apocalypto<
I still don't agree mate the interbank is closed.

final quote on Apari is 1.5937

HotSpot FX has no quotes nor can even open a ticket they're a direct ECN.
We can agree to disagree.
What I know is I can trade 24/7. That is one of the reasons I selected my broker. No gaps.

From IFBX FAQ
When is the FX Market open for trading?
A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center; first to Tokyo, then London, and finally New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night. Most Forex brokerages allow clients to begin trading late in the day Sunday afternoon (US Sunday afternoon is Japan Monday market open) until late in the day Friday afternoon. Retail trading is typically suspended from the time of Friday close until Sunday open, creating a two day weekend. Each broker’s dealing hours may vary slightly. IBFX is open for trading from 6 PM EST on Sunday until 4 PM EST on Friday.

From Oanda
The first and only platform to provide true 24/7 trading, even on weekends.

I am not promoting any broker just trying to end this madness.
  • #14,237
  • Jul 12, 2008 9:51pm Jul 12, 2008 9:51pm
Quoting >Apocalypto<
I still don't agree mate the interbank is closed.

final quote on Apari is 1.5937

HotSpot FX has no quotes nor can even open a ticket they're a direct ECN.
It's ok, the order doesn't hit the interbank market until Monday, if it does at all. His broker takes the other side of the trade. The spread is just bigger that's all.
Take a report.
  • #14,238
  • Jul 12, 2008 9:57pm Jul 12, 2008 9:57pm
Quoting Fx_Genius
We can agree to disagree.
What I know is I can trade 24/7. That is one of the reasons I selected my broker. No gaps.

From IFBX FAQ
When is the FX Market open for trading?
A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center; first to Tokyo, then London, and finally New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night. Most Forex brokerages allow clients to begin trading late in the day Sunday afternoon (US Sunday afternoon is Japan Monday market open) until late in the day Friday afternoon. Retail trading is typically suspended from the time of Friday close until Sunday open, creating a two day weekend. Each broker’s dealing hours may vary slightly. IBFX is open for trading from 6 PM EST on Sunday until 4 PM EST on Friday.

From Oanda
The first and only platform to provide true 24/7 trading, even on weekends.

I am not promoting any broker just trying to end this madness.

I am all good mate not trying to fight as well. this is healthy. I think with Oanda you are trading the pool, with fair value applied. I would think with the size of Oanda they would have a massive pool. Hence they can weekend quote. No gaps is good for u. I have a live account with but as u can see I don't really use it.

On top of that the first interbank to open is New Zealand then Sydney then Tokyo Paris Frankfurt London then USA they're the mayors lot of others in there to.

Cheers
  • #14,239
  • Jul 12, 2008 11:02pm Jul 12, 2008 11:02pm
Quoting PandoraBox
Just little information for you. Europen bank would not allow EU blow up above 1.6 BECAUSE if EU blow up above 1.6, european product will become more expensive then US product. When their product become more expensive...who want to buy??? and if their business turn down ...the second impact is the bank who give the soft loan, major loan to the manufacturer, business man and traders.

Just info not reco.

But anything can happen.
So now ECB can control the Euro? Great just great.

Who cares about european product being expensive.

I don't care.

The big speculaters don't for sure.

It's a cruel world out there.
  • #14,240
  • Jul 13, 2008 2:50am Jul 13, 2008 2:50am
Quoting uncleforex
So now ECB can control the Euro? Great just great.

Who cares about european product being expensive.

I don't care.

The big speculaters don't for sure.

It's a cruel world out there.
I agree 100% People just don't understand! In short term, speculators always wins, and this is enough to blow anyone's account who is trying to trade with a rational mind, you've heard this enough, a market can stay irrational longer than you can stay solvent
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