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  • #2,521
  • Aug 7, 2008 11:37am Aug 7, 2008 11:37am
Quoting aerio
My contrarian part says that euro might not have a big retracement from here because everybody was waiting for this area to load up on longs. First under 1.5280 to take out stops...
I would not be suprised if you are right. I've seen that happen lots of times. I'll be watching that long very carefully
  • #2,522
  • Aug 7, 2008 11:41am Aug 7, 2008 11:41am
Quoting BANDA
went short USD/CHF @1.0624 reasons ---- 50% Fib of daily 1.0615 and 200SMA in daily 1.0644...... and S&R in daily chart
200SMA was breached at 1.0532, but S&R and 50% fib is correct. This might be a good trade, but watch it carefuly.... and have your STOP in place!
  • #2,523
  • Aug 7, 2008 11:47am Aug 7, 2008 11:47am
Quoting len979
200SMA was breached at 1.0532, but S&R and 50% fib is correct. This might be a good trade, but watch it carefuly.... and have your STOP in place!
Been trying to short USDCHF in the last couple of days and each time escaped out with a small profit. This thing just keeps on going up, breaching resistence levels one after another. BRV said that USDCHF is in low term downtrend, but I am starting to wonder about that watching the dollar strength for no fundamental reasons.
Expected the unexpected
  • #2,524
  • Aug 7, 2008 11:56am Aug 7, 2008 11:56am
EUR/USD long from 1.5301
Time hides Nothing
  • #2,525
  • Aug 7, 2008 11:58am Aug 7, 2008 11:58am
Hey guys i'm beginning to wish that i had gone short instead of long EU ha ha
  • #2,526
  • Aug 7, 2008 11:59am Aug 7, 2008 11:59am
damn dropping oil...nicely against our euro, pushing dow back higher!

except the horizontal trendline i can't see any other thing supporting the trade on the higher timeframes. even tough it held three times, it might have become glass now
  • #2,527
  • Aug 7, 2008 11:59am Aug 7, 2008 11:59am
BRV,
I think remember you saying that when EU moves 200 in one day it will almost always reverse. Todays high is around 1.5500, and 200 pips away is 1.5300. Besides this is a round number and the low of 13/June. The next low is around 1.5282. So what do you think of a buy from 1.5305 - 1.5280?
  • #2,528
  • Aug 7, 2008 12:01pm Aug 7, 2008 12:01pm
Quoting BillyRayValentine
Just bought euro here at 1.5340....just thought I would share.
Dont think there's much to thank me about! I just got back to my desk and saw this nonsense.

Ok so theres 190 pip range for the day (pretty much cooked out) and 1.5300 right there, Im not closing it for any loss with these kind of levels down here. If anything I'll probably add. Me and my big mouth.
  • #2,529
  • Edited 12:12pm Aug 7, 2008 12:02pm | Edited 12:12pm
Quoting NowAndLater
BRV,
I think remember you saying that when EU moves 200 in one day it will almost always reverse. Todays high is around 1.5500, and 200 pips away is 1.5300. Besides this is a round number and the low of 13/June. The next low is around 1.5282. So what do you think of a buy from 1.5305 - 1.5280?
Exactly right. I'm all about it. Reversal is very imminent. Also, someone else pointed out that the dollar index nailed resistance with this all going on.
  • #2,530
  • Aug 7, 2008 12:03pm Aug 7, 2008 12:03pm
Quoting kimmy
Hey guys i'm beginning to wish that i had gone short instead of long EU ha ha
Patience is key in this game. Hope you had a wide stop as resistance range is 1.5337 - 1.5280
  • #2,531
  • Aug 7, 2008 12:04pm Aug 7, 2008 12:04pm
Quoting len979
Patience is key in this game. Hope you had a wide stop as resistance range is 1.5337 - 1.5280
correct again. love this thread.

by the way side note I have trades to update and new stuff to share getting around to it now.
  • #2,532
  • Aug 7, 2008 12:05pm Aug 7, 2008 12:05pm
Quoting len979
Patience is key in this game. Hope you had a wide stop as resistance range is 1.5337 - 1.5280

  • #2,533
  • Aug 7, 2008 12:08pm Aug 7, 2008 12:08pm
Quoting BillyRayValentine
Dont think there's much to thank me about! I just got back to my desk and saw this nonsense.

Ok so theres 190 pip range for the day (pretty much cooked out) and 1.5300 right there, Im not closing it for any loss with these kind of levels down here. If anything I'll probably add. Me and my big mouth.

hey no worries billyray.....i was already long when you posted and i think that most of the others were looking to get long too........it was good ( and a relief ) to hear that you were thinking along the same lines !
  • #2,534
  • Aug 7, 2008 12:09pm Aug 7, 2008 12:09pm
regarding the charts, there is a possible chance of crude closing extremely low today and eventually going on. this won't be in our eurusd long favor. take care. a close below 118.52 and the probability increases.
  • #2,535
  • Aug 7, 2008 12:10pm Aug 7, 2008 12:10pm
Thank you len...........


quote=len979;2152811]200SMA was breached at 1.0532, but S&R and 50% fib is correct. This might be a good trade, but watch it carefuly.... and have your STOP in place! [/quote]
BANDA333
  • #2,536
  • Aug 7, 2008 12:13pm Aug 7, 2008 12:13pm
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  • #2,537
  • Aug 7, 2008 12:16pm Aug 7, 2008 12:16pm
Quoting BillyRayValentine
...

did not check that out! very good support for eur.
at least my crude scalp a few minutes ago, lasting 90 sec, made some decent profit to keep the eurusd long backed up.
  • #2,538
  • Aug 7, 2008 12:17pm Aug 7, 2008 12:17pm
Quoting CindyXXXX
EUR/USD long from 1.5301
i have a low of .5314? when did it hit .5301?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #2,539
  • Aug 7, 2008 12:19pm Aug 7, 2008 12:19pm
Quoting moneymagnet
i have a low of .5314? when did it hit .5301?
It didnt we were just talking about that level as a reversal point. We post trades in this thread before they happen based on s/r.
  • #2,540
  • Aug 7, 2008 12:23pm Aug 7, 2008 12:23pm
Attached Fileshttp://www.forexfactory.com/images/attach/pdf.gifBRV_S+R_Trading.pdf (651.8 KB, 586 views)
I couldn't open the file - it's damaged or corrupted. Could someone please repost the trading method with an updated pdf ile? Thanks.
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