Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
- #18,242
- Aug 7, 2008 12:22pm Aug 7, 2008 12:22pm
The RSI , the relative strength index for EURUSD is extremely oversold @ 24 (normal range 35 to 70), which occurred only 4 times last 12 months. We can expect heavy short squeeze/rally in EURUSD before the weekend. EURUSD has massive support just above 1.5315-30, which we expect to hold and trade towards 1.5410.
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- #18,243
- Aug 7, 2008 12:30pm Aug 7, 2008 12:30pm
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
58 ? 
That's overly greedy for me, I'll do with 395. Though like I was saying tommorow we could get to 450-55, retrace with profit taking for the week. But 395 would be anough for the meantime. Looks like we're slowly heading back up indeed.
That's overly greedy for me, I'll do with 395. Though like I was saying tommorow we could get to 450-55, retrace with profit taking for the week. But 395 would be anough for the meantime. Looks like we're slowly heading back up indeed.
On the path to Enrichment.
- #18,246
- Aug 7, 2008 12:40pm Aug 7, 2008 12:40pm
- Joined Apr 2008 | Status: Trader | 7,674 Posts
58 ?
- #18,249
- Aug 7, 2008 12:42pm Aug 7, 2008 12:42pm
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
there you go the trap is
Btw, if NY closes here watch out for the possibility of a stop hunting spike down aginst your longs during the low volume hours..Its not overly greedy.. It's just long-term trading plan. I'm rather keep a position for 1-2 weeks, instead of trying to think all the time. Where do you see it in a week? People that shorted from 1.6 to 1.535 are not overly greedy, just longer-term traders.
Everything has pros and cons.
On the path to Enrichment.
- #18,250
- Aug 7, 2008 12:43pm Aug 7, 2008 12:43pm
- | Joined Apr 2008 | Status: You never know | 1,306 Posts
Expected the unexpected
- #18,251
- Aug 7, 2008 12:44pm Aug 7, 2008 12:44pm
- Joined Apr 2008 | Status: Trader | 7,674 Posts
there you go the trap is
just wait wait for the bottom
- #18,252
- Aug 7, 2008 12:45pm Aug 7, 2008 12:45pm
- Joined Apr 2008 | Status: Trader | 7,674 Posts
Good thing most of us don't put our sl right below the price when trading such a setup.
True, but if it breaks down you could loose a week.
hi every1,
i am your loyal audience ..
as a nuwbie.. may i ask something..
first. a lot of people here keep talking about the bottom, and it need retrace ..like to +5400 (fib 50% ??)... but what happen if in 1-2 hour oil down another 3-4 dollar & DJIA up 200 points.. does e/u still need retrace..or just keep falling?
second, is there any1 in this thread who knows?how the big player make a trade? does they need meeting before do a trade? or just like me here, sit in front of computer, and when i see some opportunity just jump in? (i know they are long term trader..maybe based on weekly/monthly or even yearly TF, but just wonder, how they make a trade?)
please, enlight me..and pardon me for my bad english
thx
i am your loyal audience
.. as a nuwbie.. may i ask something..
first. a lot of people here keep talking about the bottom, and it need retrace ..like to +5400 (fib 50% ??)... but what happen if in 1-2 hour oil down another 3-4 dollar & DJIA up 200 points.. does e/u still need retrace..or just keep falling?
second, is there any1 in this thread who knows?how the big player make a trade? does they need meeting before do a trade? or just like me here, sit in front of computer, and when i see some opportunity just jump in? (i know they are long term trader..maybe based on weekly/monthly or even yearly TF, but just wonder, how they make a trade?)
please, enlight me..and pardon me for my bad english
thx
- #18,260
- Aug 7, 2008 1:24pm Aug 7, 2008 1:24pm
- Joined Apr 2008 | Status: Trader | 7,674 Posts
Clouds do you still think Euro will hit 1.62?