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EURUSD

  • #17,501
  • Aug 4, 2008 6:39am Aug 4, 2008 6:39am
Quoting Gar
well i'm off for now, I'll let things pan out, best of luck all
be safe out there
  • #17,502
  • Aug 4, 2008 6:40am Aug 4, 2008 6:40am
does everyone have their shorts locked
  • #17,503
  • Aug 4, 2008 6:43am Aug 4, 2008 6:43am
So whats the chance of an FOMC rate hike tomorrow? And is there fed speak following the decision? If so what time?
  • #17,504
  • Aug 4, 2008 6:44am Aug 4, 2008 6:44am
Quoting oztrader1
So whats the chance of an FOMC rate hike tomorrow? And is there fed speak following the decision? If so what time?

http://www.bloomberg.com/apps/news?p...6zQ&refer=home
  • #17,505
  • Aug 4, 2008 6:45am Aug 4, 2008 6:45am
Quoting freetrader
does everyone have their shorts locked
I'm long at the moment still. I'll wait until I'm stopped out at -20pips before I reconsider getting back into a trade.
  • #17,506
  • Edited 6:57am Aug 4, 2008 6:46am | Edited 6:57am
My perspective is that EURUSD will rise. Draw a long term trend line 2007.8.16 to 2008.2.7 and see where the current price is compared to that line. You might notice something very interesting :-)

If however the price breaks downside of that trendline then It's going to be very interesting few weeks ahead.

I'm personally long stop at 1.56000 at the moment and I'm waiting the price to break it during today. This is going to be interesting and volatile week beacuse of fed and ecb announcements.

edit: pic (from demo that I use for TA)
Attached Image (click to enlarge)
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  • #17,507
  • Aug 4, 2008 6:48am Aug 4, 2008 6:48am
Quoting freetrader
http://www.bloomberg.com/apps/news?p...6zQ&refer=home
cheers
  • #17,508
  • Aug 4, 2008 6:48am Aug 4, 2008 6:48am
I will add 50 lots short at a break of 5570
  • #17,509
  • Aug 4, 2008 6:51am Aug 4, 2008 6:51am
Quoting mikkom
My perspective is that EURUSD will rise. Draw a long term trend line 2007.8.16 to 2008.2.7 and see where the current price is compared to that line. You might notice something very interesting :-)

If however the price breaks downside of that trendline then I'm going to be all short but at the moment the price is bouncing up from that exact very long term line on intraday basis..

Very interesting moments.

I'm long stop at 1.56000 at the moment so I'm waiting the price to break it during today. This is going to be interesting and volatile week beacuse of fed and ecb announcements.
I'm leaning long too, We're caught in a tight range between 1.5600 and the the bottom of the range for the long term daily trend.....

If it breaks 1.55 though I'm gonna be looking at the 1.5300 area....
  • #17,510
  • Aug 4, 2008 7:04am Aug 4, 2008 7:04am
I'm a short term trader on 30minute time frame. Based on my Candle Stick method, I've now exited my long position at -15pip loss and gone short.

It took some profit and loss from EUR/USD today. So far they have cancelled themselves out.
  • #17,511
  • Aug 4, 2008 7:08am Aug 4, 2008 7:08am
Quoting altrader
I'm a short term trader on 30minute time frame. Based on my Candle Stick method, I've now exited my long position at -15pip loss and gone short.

It took some profit and loss from EUR/USD today. So far they have cancelled themselves out.
with a sl of .0015 in this range .0030 do you get death from 1000 cuts
  • #17,512
  • Aug 4, 2008 7:12am Aug 4, 2008 7:12am
Quoting freetrader
with a sl of .0015 in this range .0030 do you get death from 1000 cuts
Yeah, my stop loss is not fixed though. I vary it depending on support and resistance levels and volatlity.

I could see from the 30min candles that I was barking up the wrong tree by staying with my long position so I closed it but only after the 30minute candle had closed fully at the end of its duration. So yeah I was basically waiting for that candle to close or waiting for my 20pip stop loss to be hit.

Having said all of that you are right. I need to re-think my reward to risk ratio.
  • #17,513
  • Aug 4, 2008 7:16am Aug 4, 2008 7:16am
Aaah.. this is all wrong, euro and cable.. what did they find oil in NY or something ? where is this thing goin ?
On the path to Enrichment.
  • #17,514
  • Aug 4, 2008 7:19am Aug 4, 2008 7:19am
It looks like it is going to retest 55 what are your thoughts?
  • #17,515
  • Aug 4, 2008 7:20am Aug 4, 2008 7:20am
Quoting freetrader
It looks like it is going to retest 55 what are your thoughts?
So it seems...
On the path to Enrichment.
  • #17,516
  • Aug 4, 2008 7:20am Aug 4, 2008 7:20am
Quoting Jurrasic
Aaah.. this is all wrong, euro and cable.. what did they find oil in NY or something ? where is this thing goin ?
Its called "US Market Opens"...and its giving you a "hint"...where market sentiment is....
  • #17,517
  • Aug 4, 2008 7:21am Aug 4, 2008 7:21am
Quoting Shadowfx
Its called "US Market Opens"...and its giving you a "hint"...where market sentiment is....
its also vacation month...
  • #17,518
  • Aug 4, 2008 7:22am Aug 4, 2008 7:22am
Losing my mind with EUR/USD! Aarrrrgh!!!!
  • #17,519
  • Aug 4, 2008 7:22am Aug 4, 2008 7:22am
Quoting Shadowfx
Its called "US Market Opens"...and its giving you a "hint"...where market sentiment is....
There's still the possibility we're being toyed with before the news pulls us right back up.. Or at least I certainly hope so.

Edit: Nice pullback, rescued my long from the bottom of the channel. Now let's see what'em news bring..
On the path to Enrichment.
  • #17,520
  • Aug 4, 2008 7:26am Aug 4, 2008 7:26am
Wait for personal income reports...let us see
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