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  • #17,101
  • Jul 31, 2008 8:43am Jul 31, 2008 8:43am
Chicago Business Barometer due in 3

we can get a nice ramp response trade off the event impulse
  • #17,102
  • Jul 31, 2008 8:44am Jul 31, 2008 8:44am
despite of the good or bad news
bigboys decided to crack a daily uptrend
dont trust news anymore only charting
took another short from 57 near ema 14 at 1m chart
playin my scenario
  • #17,103
  • Jul 31, 2008 8:48am Jul 31, 2008 8:48am
I am with you on not trading into news. I like the fuel when lighting my fire; but I would prefer a fair coin toss over 'betting' on the news.
  • #17,104
  • Jul 31, 2008 8:48am Jul 31, 2008 8:48am
You're better off playing roulette than betting on the news. Best way to lose your shirt
  • #17,105
  • Jul 31, 2008 8:49am Jul 31, 2008 8:49am
Quoting freetrader
I am with you on not trading into news. I like the fuel when lighting my fire; but I would prefer a fair coin toss over 'betting' on the news.

I say something like that at least once a month, because I have to re-learn that lesson at least once a month. Every month of every year.
Redefining Reality
  • #17,106
  • Jul 31, 2008 8:50am Jul 31, 2008 8:50am
Quoting Jurrasic
Look at tommorow's news. It might not go much higher but for it to go much lower this week like again below 56 seems unlikely.

Been scalping stuff a bit on the moves, longed EJ, shorted GU and EU and took some pips. Now long from 658 - hourly 100 sma, should come back up some.
It's a pleasure to share opinions with you Jurrasic...

Today's news based upon ADP yesterday and forecasts was expected to be in favor of USD....like we seen before...it was not..
Tomorrow...expectations are bad news for the USD...will it...who knows..?

Looking at current situation...retraced already 50%...Oil the same...DJI dropped but is recovering...

Hence the above..I still believe in my first post...the double top scenario...maybe not a break today or even tomorrow..but I'm overall still bearish and enjoying the bullish breakouts for extra profit...

As always...Just my 2 Cents...
  • #17,107
  • Jul 31, 2008 8:50am Jul 31, 2008 8:50am
Quoting 20pips
When are you going short?

Daily chart shows that we need to dip to about 5300 before going up again.
pls when do you think it is nice for us to take a short position?
  • #17,108
  • Jul 31, 2008 8:50am Jul 31, 2008 8:50am
i think u dont catch my point
  • #17,109
  • Jul 31, 2008 8:51am Jul 31, 2008 8:51am
when I was a market maker at Allston making the euro we moved 50 wide at release
  • #17,110
  • Jul 31, 2008 8:54am Jul 31, 2008 8:54am
Profit-takers are cashing in.
"People sometimes mistake luck with skill"
  • #17,111
  • Jul 31, 2008 8:58am Jul 31, 2008 8:58am
Quoting indotrader
the reason why is my confident is on EURO is the stability

Well, you can say that. But Euro data is very poor also these days.

It's just a matter of who has the worse data, which for now is US.
"People sometimes mistake luck with skill"
  • #17,112
  • Jul 31, 2008 9:05am Jul 31, 2008 9:05am
Quoting Shadowfx
It's a pleasure to share opinions with you Jurrasic...

Today's news based upon ADP yesterday and forecasts was expected to be in favor of USD....like we seen before...it was not..
Tomorrow...expectations are bad news for the USD...will it...who knows..?

Looking at current situation...retraced already 50%...Oil the same...DJI dropped but is recovering...

Hence the above..I still believe in my first post...the double top scenario...maybe not a break today or even tomorrow..but I'm overall still bearish and enjoying the bullish breakouts for extra profit...

As always...Just my 2 Cents...
pls share your opinion should we hold a long or short position? or hold the both but in smaller lot sizes.
  • #17,113
  • Jul 31, 2008 9:06am Jul 31, 2008 9:06am
Eurusd momentum is correlated with LL thats good for bears


eur index is falling like stone.
no one buy euro ?

eurjpy will drop soon
  • #17,114
  • Jul 31, 2008 9:12am Jul 31, 2008 9:12am
Quoting finian204rea
pls share your opinion should we hold a long or short position? or hold the both but in smaller lot sizes.
Finian...I think I share my opinions more then often here...

Read back mine and other experienced traders posts..and there is your answer...the decision in the end is yours and always should be...train yourself to learn what moves the market and do due diligence...if you not sure about a direction...don't enter a trade or enter it on a demo account..

Just my 2 cents..
  • #17,115
  • Jul 31, 2008 9:37am Jul 31, 2008 9:37am
Signal is short while the price is below 5700; support is strong at 5626.
"People sometimes mistake luck with skill"
  • #17,116
  • Jul 31, 2008 9:39am Jul 31, 2008 9:39am
Dust settling a bit...still 2 shorts open...looks like the EUR will eventually settle around the Monthly Pivot (1.5633) for now..how appropriate on the 31st of July...

I cant tell myself enough how valuable these pivot levels have been over and over...

Time to relax, dip in the pool & re-energize..

Later all..
  • #17,117
  • Jul 31, 2008 9:49am Jul 31, 2008 9:49am
shouldnt go higher than 5644imo
we are ready for 555 again imho to test a uptrend lower trendline
notice that we move 80 pips but 5M chart rsi is just below 40
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  • #17,118
  • Jul 31, 2008 10:07am Jul 31, 2008 10:07am
Quoting Shadowfx
Finian...I think I share my opinions more then often here...

Read back mine and other experienced traders posts..and there is your answer...the decision in the end is yours and always should be...train yourself to learn what moves the market and do due diligence...if you not sure about a direction...don't enter a trade or enter it on a demo account..

Just my 2 cents..
thanks you realy know how to make someone understand a situation
  • #17,119
  • Jul 31, 2008 10:10am Jul 31, 2008 10:10am
added another long at 5600, and tightened my stop to 5560
  • #17,120
  • Jul 31, 2008 10:12am Jul 31, 2008 10:12am
Whoa.. this thing is on a mission. Didn't expect it to go that low. Profit taking I guess. I believe though that where it makes a low now will be the lowest it'll get, at least this week.. Let's see.
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