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EURUSD

  • #18,381
  • Aug 7, 2008 8:15pm Aug 7, 2008 8:15pm
http://www.forexfactory.com/showpost...59&postcount=7

Have a lookon this. I guess it helps.
  • #18,382
  • Aug 7, 2008 8:15pm Aug 7, 2008 8:15pm
Quoting Warren Forex
It Looks Like Bottom Is Solid at 1.5225

Further Update !!!



After stalling at 1.5500 the pairing collapsed through 1.5285 in Asia and we sold the break for 1.5000. The stop is tight due to the fact that the daily RSI at its lowest level since June 2005 and the slow stochastic since Jan 97, so a period of consolidation is due. Weekly charts suggest a massive double-top at 1.6020/35.
There is now 2 support levels. One is 1.5225 and the other is 1.5200

Here is the update from my information source off my FXCM platform.

01:03 EUR/USD: Backs Away from 200-DA MA But Still Pressured Sydney, August 8: The EUR/USD traded down to 1.5233 within 10 pips of the key 200-day MA at 1.5225, as US funds who were long EUR/USD since the days when the "decoupling" theory was popular are capitulating. The USD/CHF has broken above the 200-day MA at 1.0640 and the US dollar index broke above the 200-day MA at 74.21 two days ago. Traders feel that a EUR/USD break below the 200-day MA is just a matter of time. The US dollar index has traded up to the 61.8 fibo of the year"s 77.35/0.7070 low/high around 74.80 and a clear break above that level targets the year"s high around 77.35. The next support for EUR/USD below 1.5225 is the 50% retracement of the year"s 1.4365/1.6038 move at 1.5200. The EUR/USD trades 1.5245/50. [email protected]
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  • #18,383
  • Aug 7, 2008 8:18pm Aug 7, 2008 8:18pm
This is NOT a good time to buy.

This is a good time to watch.

This kind of price action makes everyone jittery.

The sidelines is the place to be.

Take tomorrow off and see what Monday brings.
  • #18,384
  • Aug 7, 2008 8:18pm Aug 7, 2008 8:18pm
Quoting mphpopular
http://www.forexfactory.com/showpost...59&postcount=7

Have a lookon this. I guess it helps.
"6" Stage of Loss

1) Denial
- Ego
- Market going against you, and you only rationalizing why I was long, why i should stay long, why the market was wrong.
- It wasn't our action wrong, the market just correcting, digesting pieces of small news

2) Anger
- We run out reason to deny that we are wrong, we get angry, blame our broker, charts, software, errand kept us from placing a stop loss, telephone that broke our concentration.

3) Bargaining
- Bargain with ourselves, God, anyone who will listen and promise that we'll do right next time.
Most common example :-
If my position come back to where I go in, I promise I will get out. ( I often made this, and i nvr get out at breakeven)

4) Depression
- insomia, fatigue, lack of focus
- not talking with friends and family
- refuses any help from anyone who wants to help or advice us to exit the position

5) Acceptance
- get out as soon as posible
- exiting position either broker force or finally accepted the fact
- outcome still same with usual trading "exit"
- acceptance is easier and quicker to accomplish if we can recognize the first 4 steps and come to terms with the losing trades.

6) Market reverses back to your entry.
  • #18,385
  • Aug 7, 2008 8:18pm Aug 7, 2008 8:18pm
Quoting videoman555
Find out who did it (better find out their web site)
And just WHAT are you going to do...? LOL... ROFL

Warm regards,

Bristol.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #18,386
  • Aug 7, 2008 8:24pm Aug 7, 2008 8:24pm
its already hitting 1.52 now holy crap.. its christmas in august
Skype: heliosphan187
  • #18,387
  • Aug 7, 2008 8:26pm Aug 7, 2008 8:26pm
I have been buying and selling everytime it gets below 1.5250 with the bottom for me being 1.5225 with the next bottom being 1.5200

We Are Going to break 152.25 and 1.5200 as all the Black box Hedge Funds are getting sold out.

The low on my FXCM platform is 1.51934

I picked up 5 more positions at 1.5200 to 1.5207 to hold 15 now.

Bouncing Up now. Shold be FUn when Europe opens !!!
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  • #18,388
  • Aug 7, 2008 8:27pm Aug 7, 2008 8:27pm
Quoting Algirdas
This morrning we took Short since 1.5500 and now took 1/2 profit at 1.5240,,,,,,,,,same time we bouth same 1/2 with stops at 1.5190. Now in headging our 1/2. No stops for Shorts.See you tommorow.Thank you for cooperation.
Just want to remind Stops for this night 1.5190
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  • #18,389
  • Aug 7, 2008 8:32pm Aug 7, 2008 8:32pm
wasnt ready for that drop and my longs werent either will average down here at 1.52 and see if I can get out at 1.5250.....

newbs, never leave your position un-monitored or without a stop-loss...

I thought it was going to bounce from 1.5330 before heading down, it didnt. no sure things in 4x...
  • #18,390
  • Aug 7, 2008 8:33pm Aug 7, 2008 8:33pm
Quoting Dirtybrown
its already hitting 1.52 now holy crap.. its christmas in august
My thoughts exactly. +250 pips today
  • #18,391
  • Aug 7, 2008 8:34pm Aug 7, 2008 8:34pm
Alright who is propping up the US Dollar...fishy
  • #18,392
  • Aug 7, 2008 8:36pm Aug 7, 2008 8:36pm
Algirdas. Thanks for your input. You were right all along.
  • #18,393
  • Aug 7, 2008 8:39pm Aug 7, 2008 8:39pm
01:30 EUR/USD Breaks Below 200-day MA For First time Since 2006 Sydney, August 8: The EUR/USD has fallen to 1.5195 after stops below the 200-day MA at 1.5225 were triggered in another wave of USD buying by funds of every description. The next level of support for the EUR/USD is found at a series of lows made in early march around 1.5145. The EUR/USD trades 1.5215/20. -- [email protected]
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  • #18,394
  • Aug 7, 2008 8:40pm Aug 7, 2008 8:40pm
Quoting akirax
possible?
yes and then some....

http://www.forexfactory.com/showpost...ostcount=17183
  • #18,395
  • Aug 7, 2008 8:42pm Aug 7, 2008 8:42pm
Quoting Warren Forex
I have been buying and selling everytime it gets below 1.5250 with the bottom for me being 1.5225 with the next bottom being 1.5200

We Are Going to break 152.25 and 1.5200 as all the Black box Hedge Funds are getting sold out.

The low on my FXCM platform is 1.51934

I picked up 5 more positions at 1.5200 to 1.5207 to hold 15 now.

Bouncing Up now. Shold be FUn when Europe opens !!!
Profit for day is now + $1700 US
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  • #18,396
  • Aug 7, 2008 8:42pm Aug 7, 2008 8:42pm
This price action is presenting great opportunities to trade in the volatility. We are hitting extreme over/under valuation conditions. If you have a position sizing algorithm now is the time to trim your position size delta and adjust the attitude on your stops. Its dangerous out there, and being prudent will give you the option to trade another day. I want to see everyone trading tomorrow and the next. Institutional buyers are stepping in for exporters and the sellers are overheating. Remember a time when something confused you, if you are feeling confused by the price action step to the sideline and wait for your understanding to kick in; people blow up in high volatility. Chasing the market at this point will teach you an expensive lesson. Let the dust settle. If you are feeling like this sell-off was out of control you are over emotional. The sell off is behaving orderly. The price consolidation will be unnerving for those with high leverage or overexposure. BE SAFE OUT THERE!

FreeTrader
  • #18,397
  • Aug 7, 2008 8:42pm Aug 7, 2008 8:42pm
Quoting videoman555
you silly, me not
I am ANGRY, always angry like devil, especially when I smell Forex brokers' presence!
Videoman, why brokers??? Market-makers make moves like this one. Brokers simply charge you comission to enter a loosing trade
"Luxury is one of the basic needs", (c), Don Corleone
  • #18,398
  • Aug 7, 2008 8:47pm Aug 7, 2008 8:47pm
Once Europe Comes On Board I Would Imagine That The Price at 1.5200 or more will look quite attractive.

Those traders stopped out in the middle of the night by those robotic black boxes will go back in if the price is around 1.5200 or not higher than 1.5250

I am going to stay up through the night to play the Ups and Downs awaiting the Europe Open. Actually 2:00 AM ot 6:00 GMT is when the REAL FUN should Start !!!


Good Trading All !!!
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  • #18,399
  • Aug 7, 2008 8:49pm Aug 7, 2008 8:49pm
Quoting videoman555
you are mistaken! that's not christmas, that's just fucking robbery of people' s accounts! maybe planned?!
Exactly.
  • #18,400
  • Aug 7, 2008 8:50pm Aug 7, 2008 8:50pm
Quoting freetrader
This price action is presenting great opportunities to trade in the volatility. We are hitting extreme over/under valuation conditions. If you have a position sizing algorithm now is the time to trim your position size delta and adjust the attitude on your stops. Its dangerous out there, and being prudent will give you the option to trade another day. I want to see everyone trading tomorrow and the next. Institutional buyers are stepping in for exporters and the sellers are overheating. Remember a time when something confused you, if you are feeling confused by the price action step to the sideline and wait for your understanding to kick in; people blow up in high volatility. Chasing the market at this point will teach you an expensive lesson. Let the dust settle. If you are feeling like this sell-off was out of control you are over emotional. The sell off is behaving orderly. The price consolidation will be unnerving for those with high leverage or overexposure. BE SAFE OUT THERE!

FreeTrader
I am a professional FX trader so I love conditions like this with my FX trading style. For newbies or less sophisticated FX traders your advice is right on.

Be Careful Out There !!!
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