EURUSD

I couldn't agree more to this comment..

Thanks Shadowfx

Anyone longing with me?

Already +15

See that big fat red candle....that's me..shorting your +15 away...

Just kidding...

what do you see to be the top

Let me explain why I'm long.

Price stopped at the rising trendline since early July. Okay maybe it could spike down 30pips or 50pips max. But I believe it will slowly creep back up.

And by the time you know it. It's above 1.6 again.

However I could be so wrong. So that's what SL is for.

Good luck everyone.

i don't think long at this stage is a wise descion...

http://i81.photobucket.com/albums/j2...slvghwoign.gif

that resistance line was the only thing stopping me from longing Eu this morning, it turns out that so far i was on the correct thinking path, on my broker the daily closes in abt 4 hours that should leave this candle more or les in a Pb stage if the next daily cadnle bothers to form the right eye, to me Eu wants to restest 1.58 region to see if it can break it, if it fails 1.6 will then be a nice target it may look for...

again anticipation is good but actions resulting from it are not. i am only anticipating this and i by no means am entering the market on these thoughts of mine no matter how strong they appear to me...i might short Eu if i can get to see a nice PA setup tomotow maybe a Pb setup for a quick 30-50 pip scalp because obviosuly i am not betting on a huge down move when this strong uptrend is in place...

Happy trading and best of luck to all the longs and shorts.

Today EUR reached the highest price it has ever been against the USD. It went up to 1.6035. and it is forming a very nice pin for those with strategies on D1 TF's.

I have lost 50pips on e/u long today, thankfully made up with 120pips from g/u long since yesterday
My mistake was to jump in the trade at a breakout with no confirmation of price action and a due correction. My risk on e/u was limited because of that so I'm not worry, I'm watching this retrace loaded with buylimit orders in the 700-800 area.

Me but unfortunately I took it @15978

Up Up Up bb

This time your stop loss may hit..

let's hope that does'nt happen but i am still searching for any signs of long along the lines on which uncleforex took the trade...

Im not ruling that out.

Just looking for e/u to range a bit within this 1.59 to 1.61 areas.

which MA on the daily?

What a day, huh? Still holding my longs. I would like to see price hold above
1.5800.

Added more longs here @ 1.58820 for 1.59700

All positions SLs moved to 1.58300 from 1.58500

1.59 is about to be clearly broken now..which imo leaves a retrace scenario only open if 1.585 holds...if not we heading south

Just my 2 cents...

Edit: Looking at 1 & 4H..this downtrend is much stronger then the previous one we saw before retracing to a new high...I'm doubting this will retrace back to 1.6 short term to be honest...just my opinion...please follow your own conclusions

I rarely use this forum now, and today I can see why, the best piece of advice I ever got from here was "dont listen to anyone else, just read your own charts" That advice I took some months ago and touchwood since then I have had nothing but profits, Im not boasting I swear just stating the bleeding obvious.
My take on the e/u is as follows to date today we had the massive speculative rise up to the psychological (A VERY IMPORTANT WORD) of 1.6 and like previous it was kicked so far back that its balls ache now, we are at this minute intime -36 pips from the days open, I do not call that a up trend, bullish or whatsoever, I call that a range, and is still falling, whether it be fundamentals, technicals, central banks, Bernanke, Trichet or santa claus, I dont know and I dont really care and the reason I dont really care is because I dont understand and I dont believe that there is anyone on this forum that understands it either, I have watched the so called experts on Bloomberg, cnn and abcd and they all contradict each other and are in the feather there own nest business.
but wait for it....The thing I do understand is my charts and at the minute it is telling me that 1.6 was hit didnt like it and irrelevant of the state of the US economy and the fact that it should have carried on up up up, it didnt and will probably settle back into its comfort range of 1.53-1.58.
But just a footnote, The central banks, brokers and yes government coffers via taxes made a shit load today on the backs of 1 little rally. makes you think?
Respect to all
Tom

Weekly divergence still evident. 1.5600 still doable in medium term.