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  • #15,561
  • Jul 22, 2008 9:28am Jul 22, 2008 9:28am
i get out under 5830
  • #15,562
  • Jul 22, 2008 9:32am Jul 22, 2008 9:32am
Quoting Shadowfx
Just took some partial profits at 1.5845...sweet..

I don't expect to much of a retrace due to rate hike comments & DJI recovery after negative at open, still more shorts open for a possible break further below...

Just my 2 cents...
Extra Info:

For newbees...I'm not chasing price now...don't chase...shorts I still have open are above current price level...will be closed in case of a retrace..I will only open new short positions if I see Oil drop below 126$ with further signals of more downside price action for the EUR.
  • #15,563
  • Jul 22, 2008 9:37am Jul 22, 2008 9:37am
Quoting Clouds
Enough for today is 1.5750
You are right.

There is S3 on daily and S2 on weekly near that level.

It's just that I see that oil no longer falls and equities not having much energy and this makes me believe that we should have some sort of consolidation for now in eurusd. But everything is possible.

Anyway, if it's not enough for EURUSD than for sure it's enough for me I close the book for today.
  • #15,564
  • Jul 22, 2008 9:56am Jul 22, 2008 9:56am
And I close the book for today.

me too thanks for the help fxshadow and
all
  • #15,565
  • Jul 22, 2008 10:03am Jul 22, 2008 10:03am
i believe thats the trend will not change in one day move.
since the 50% mid swing is so strong (15824), i will put small long order.
my target is at today balance point (15925) and the stop is on my projected today equilibrium line (1.5800).
in chase the pricemarket make a lower low today and not hit my sl, i will switch my target to median line (1.5870).
wish me luck guys.
  • #15,566
  • Jul 22, 2008 10:09am Jul 22, 2008 10:09am
Quoting kirana
i believe thats the trend will not change in one day move.
since the 50% mid swing is so strong (15824), i will put small long order.
my target is at today balance point (15925) and the stop is on my projected today equilibrium line (1.5800).
in chase the pricemarket make a lower low today and not hit my sl, i will switch my target to median line (1.5870).
wish me luck guys.
Look at weekly?! The trend has been down since last week. Good luck though.
  • #15,567
  • Jul 22, 2008 10:12am Jul 22, 2008 10:12am
i am expecting to see the 1hr pin bar as a retracement at this time...
  • #15,568
  • Jul 22, 2008 10:15am Jul 22, 2008 10:15am
I admire the braveness of some to go long again currently, based upon (former) weekly & daily trends...

However if you look at the reversal of the Oil trend, DJI reversal and imo also a trend reversal on EUR / USD...I cant help having the feeling the odds at this point are...

"a bit like stepping in front of a train coming at you with 100mph..."

I'd rather stay aside and wave at this one....or better be in it...until the next one comes along when the dust is settled...

Just my 2 cents...
  • #15,569
  • Jul 22, 2008 10:19am Jul 22, 2008 10:19am
touching my 100 fibby at 5808 now
When you really think about it, it is all mental
  • #15,570
  • Jul 22, 2008 10:23am Jul 22, 2008 10:23am
Quoting Clouds
Look at weekly?! The trend has been down since last week. Good luck though.
you right,..
its hit my stop so fast.
i will learn from you.
  • #15,571
  • Jul 22, 2008 10:31am Jul 22, 2008 10:31am
Quoting Shadowfx
I admire the braveness of some to go long again currently, based upon (former) weekly & daily trends...

However if you look at the reversal of the Oil trend, DJI reversal and imo also a trend reversal on EUR / USD...I cant help having the feeling the odds at this point are...

"a bit like stepping in front of a train coming at you with 100mph..."

I'd rather stay aside and wave at this one....or better be in it...until the next one comes along when the dust is settled...

Just my 2 cents...
Yeah you are right.

However we have a rising trendline on H1, H4 and daily at 1.5800. I doubt it will close lower than this price.

My opinion.
  • #15,572
  • Jul 22, 2008 10:32am Jul 22, 2008 10:32am
125.7$ S3 for Oil...last stop...all aboard...

If it breaks that support and we get a cascade effect of SL's coming in like the 15th July....expect EUR to go K.O...

If it doesn't break S3..we might see some retrace or a hold of the current 1.580 level

Just my 2 cents....
  • #15,573
  • Jul 22, 2008 10:33am Jul 22, 2008 10:33am
If breach 1.5785-70 next stop could be even low 1.96xx....... just my 2 cents
BANDA333
  • #15,574
  • Jul 22, 2008 10:34am Jul 22, 2008 10:34am
As long as the weekly trendline holds I will remain bullish.(long term)
However if it breaks I will sell like a maniac all the way to 1.4350.(I'm a more of a swing, position trader) I think the next month or so will be crucial for the
direction of this pair.
Attached Image (click to enlarge)
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  • #15,575
  • Jul 22, 2008 10:39am Jul 22, 2008 10:39am
Quoting Russell
As long as the weekly trendline holds I will remain bullish.(long term)
However if it breaks I will sell like a maniac all the way to 1.4350.(I'm a more of a swing, position trader) I think the next month or so will be crucial for the
direction of this pair.
Exactly the same thing i see. Im holding all my longs until 1.5610 is broken and will add everytime i see a substantial retrace which this could possibly be.
  • #15,576
  • Jul 22, 2008 10:42am Jul 22, 2008 10:42am
Quoting donsleep
i am expecting to see the 1hr pin bar as a retracement at this time...
seems like every currency are trying to retrace now...
  • #15,577
  • Jul 22, 2008 10:46am Jul 22, 2008 10:46am
Quoting Russell
As long as the weekly trendline holds I will remain bullish.(long term)
However if it breaks I will sell like a maniac all the way to 1.4350.(I'm a more of a swing, position trader) I think the next month or so will be crucial for the
direction of this pair.
Sorry Russel, yes you are absolutely right...when I said (former) weekly trendline...I agree 100% that's still bullish (long term) and we have a long way to go in order to break and get a long term trend reversal.
  • #15,578
  • Jul 22, 2008 10:49am Jul 22, 2008 10:49am
Quoting sooperthug
Exactly the same thing i see. Im holding all my longs until 1.5610 is broken and will add everytime i see a substantial retrace which this could possibly be.
When I look at the fundamentals(I spend a couple of hours a day researching) I still see more upside potential for this pair.(here's an article that sums up my views pretty good.)http://www.moneyandmarkets.com/Issue...Nightmare-1994
However I take trades based on what I see technically.
  • #15,579
  • Jul 22, 2008 11:03am Jul 22, 2008 11:03am
OMG ......WTF......i just hope that 1.5800 holds....1.6200+ is looking bad right now....wow let me go read the news...c ya
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #15,580
  • Jul 22, 2008 11:11am Jul 22, 2008 11:11am
I hope it goes to 1.53 so I can go long, IMFO
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