To all the bears out there, watch out for the break of this support trendline,
in other news, I'm long baby... 1.6 coming
in other news, I'm long baby... 1.6 coming
Attached Image (click to enlarge)
- #17,185
- Jul 31, 2008 2:02pm Jul 31, 2008 2:02pm
- Joined Apr 2008 | Status: Trader | 7,674 Posts
Does this seem like bank intervention to you?
Everytime it hits 1.4700 it's like a STONE WALL. All BUY orders go into the abyss...
Clues?
- #17,188
- Jul 31, 2008 3:35pm Jul 31, 2008 3:35pm
Some news this morning that several large US investments banks dumped their EURO longs.
CTA's continue to sell on rallies.
Sellers continue to dominate the flow today with only a few brave bulls making feeble attempts at a retrace.
I'll repeat what I said several days ago.
It doesn't matter what NFP paints... could be the worst on record... smart money will be looking for opportunities to sell.
Just kidding of course
- #17,189
- Jul 31, 2008 5:23pm Jul 31, 2008 5:23pm
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
Price seems to respect the lower trendline of a new uptrend channel. Parallel upper line is of highs from 24-25 of July. Yet another resistance to play against the shorts. I've got longs in place and will expect nothing but up tommorow and then probably the next week and then the next...
And like I was saying, there's hardly any downside cause if it still by some miracle breaks down the move will be BIG as well and will more than make up for losing current longs. Anyway, good luck to all tommorow and good night folks.
And like I was saying, there's hardly any downside cause if it still by some miracle breaks down the move will be BIG as well and will more than make up for losing current longs. Anyway, good luck to all tommorow and good night folks.
On the path to Enrichment.
- #17,190
- Jul 31, 2008 5:41pm Jul 31, 2008 5:41pm
- Joined Jul 2008 | Status: Trader | 1,722 Posts
Price seems to respect the lower trendline of a new uptrend channel. Parallel upper line is of highs from 24-25 of July. Yet another resistance to play against the shorts. I've got longs in place and will expect nothing but up tommorow and then probably the next week and then the next...
And like I was saying, there's hardly any downside cause if it still by some miracle breaks down the move will be BIG as well and will more than make up for losing current longs. Anyway, good luck to all tommorow and good night folks.
Up or down, gimme a ticket
- #17,191
- Jul 31, 2008 6:14pm Jul 31, 2008 6:14pm
- Joined Mar 2007 | Status: Trader | 3,709 Posts
They dumped their longs because they know they are going belly up within a couple of weeks like all the other banks in the U.S.
Just kidding of course
There will be more bank failures in the US.
I'm just hoping it's not mine.
- #17,192
- Jul 31, 2008 6:22pm Jul 31, 2008 6:22pm
- Joined Jul 2008 | Status: Invincible | 3,619 Posts
Price seems to respect the lower trendline of a new uptrend channel. Parallel upper line is of highs from 24-25 of July. Yet another resistance to play against the shorts. I've got longs in place and will expect nothing but up tommorow and then probably the next week and then the next...
And like I was saying, there's hardly any downside cause if it still by some miracle breaks down the move will be BIG as well and will more than make up for losing current longs. Anyway, good luck to all tommorow and good night folks.
He stop charting and start to believe.
This is worst day in his carrier.
No hard feelings I saw such behavior many times, next stage is panic.
Anyway sidemoves has been refused.555 is coming
- #17,193
- Jul 31, 2008 6:37pm Jul 31, 2008 6:37pm
Sometimes has to happen that day to all trader.
He stop charting and start to believe.
This is worst day in his carrier.
No hard feelings I saw such behavior many times, next stage is panic.
Anyway sidemoves has been refused.555 is coming
At this particular moment I'm eyeing to buy if the price reaches down to 1.5563, not any sooner, with first target around 1.5527, then (probably quite easily) to 1.5479, and considering the past week and the break of TL, we may even go down to 1.5401. Again, subject to change in the following hours.
- #17,198
- Jul 31, 2008 6:56pm Jul 31, 2008 6:56pm
- Joined Jul 2008 | Status: Invincible | 3,619 Posts
My chart is showing transitioning from the big move today to a setup for a plunge. Price action really feels and looks bearish, unless of course the news will be extraordinary, but I'll adjust to that. I don't jump on the news moves right away (although depends, of course)
At this particular moment I'm eyeing to buy if the price reaches down to 1.5563, not any sooner, with first target around 1.5527, then (probably quite easily) to 1.5479, and considering the past week and the break of TL, we may even go down to 1.5401. Again, subject to change in the following hours.
Price accelerated right away before daily trendline.
This mean shes going to crack trendline with huge momentum.
No one can stop it in the following ours. check out chart
White is normal trendline but today price accelerate making a wedge (red)
Now have look at green and white circles. Do you see diff ?
Who is so crazy enough trying lift the price when stochastic is near 10 ?
If i am wrong i will reconsider stop trading forex.
Anyway goodluck to you all.
- #17,199
- Jul 31, 2008 7:01pm Jul 31, 2008 7:01pm
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
I have a close friend that got me into this bloody game.
Last week he said...
You want to play this game like Cal Ripken.
He rarely missed a game but also rarely hit home runs.
Concentrate on hitting singles and doubles and a homer every now and then.
A single every day will make you a legend in the end.
He trades his own capital, pulls down 7 figures every year and never ever talks about it.
That's the only advice he's every given me and I see the guy almost every weekend.
Not all sins are created equal
- #17,200
- Jul 31, 2008 7:06pm Jul 31, 2008 7:06pm
Thats right my friend
Price accelerated right away before daily trendline.
This mean shes going to crack trendline with huge momentum.
No one can stop it in the following ours. check out chart
White is normal trendline but today price accelerate making a wedge (red)
Now have look at green and white circles. Do you see diff ?
Who is so crazy enough trying lift the price when stochastic is near 10 ?
If i am wrong i will reconsider stop trading forex.
Anyway goodluck to you all.
and the euro goes down....could be the continuation of today's....slowing turning into a new down wave.