Jacko's Forex House of Pleasure and Pain | Page 245 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #4,881
  • Aug 7, 2008 8:06pm Aug 7, 2008 8:06pm
Quoting User Name
"Euro Pummeled as ECB Turns Attention to Downside Economic Risks
Despite an initial surge higher, the Euro tanked following the release of the European Central Bank?s rate decision"
But this is over 12 hours later and oil on the up
Has it any thing to do with the games
  • #4,882
  • Aug 7, 2008 8:07pm Aug 7, 2008 8:07pm
I had this feeling that this was going to happen. Watch out eurusd support dip buyers... I think we started a new trend. DOWN DOWN DOWN!!! Stop buying until you have a viable reason to buy it and if you look at the Daily there is no reason whatsoever to buy it. Sitting on your hands is best.
  • #4,883
  • Aug 7, 2008 8:25pm Aug 7, 2008 8:25pm
Thats me stoped out for big money
  • #4,884
  • Aug 7, 2008 8:38pm Aug 7, 2008 8:38pm
This has to be the bottom
  • #4,885
  • Aug 7, 2008 8:42pm Aug 7, 2008 8:42pm
Quoting xgxg
well, here goes my 100pip-loss from the nose dive of euro; waiting for AH now...
Same here. Money management is the name of the game these days...
  • #4,886
  • Aug 7, 2008 8:47pm Aug 7, 2008 8:47pm
What is your a/h
mine is 1.5240 but cant see it going much lower may be put in order for 1.5300
  • #4,887
  • Aug 7, 2008 8:54pm Aug 7, 2008 8:54pm
Quoting soeasy69
I had this feeling that this was going to happen. Watch out eurusd support dip buyers... I think we started a new trend. DOWN DOWN DOWN!!! Stop buying until you have a viable reason to buy it and if you look at the Daily there is no reason whatsoever to buy it. Sitting on your hands is best.

I still see this has some way to go to become an actual trend change, I would not start changing my mind on the uptrend unless support around 1.4996 gets killed. Until then there should be no running for the hills, LOL!...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd d1 8-7-2008 2....gif Size: 25 KB
  • #4,888
  • Aug 7, 2008 8:55pm Aug 7, 2008 8:55pm
my AH is at 5250 & looks like it's just been triggered... fingers crossed...
  • #4,889
  • Aug 7, 2008 8:59pm Aug 7, 2008 8:59pm
Quoting doberman
This has to be the bottom
Famous last words
  • #4,890
  • Aug 7, 2008 9:25pm Aug 7, 2008 9:25pm
Quoting tommyd
Here is my daily with a simple 200 day ma of close. my chart does intersect with the ma by 4 pips much like jharveys. Maybe you have something amiss on your chart??? Are you looking at a daily or weekly chart?

My broker is GFT. which is one of the better brokers, I think. And yes I was on the Daily chart. Well thanks anyway, Just never seen that happen before.
  • #4,891
  • Aug 7, 2008 9:26pm Aug 7, 2008 9:26pm
Quoting xgxg
my AH is at 5250 & looks like it's just been triggered... fingers crossed...
Think you need a 100pip stop loss
  • #4,892
  • Aug 7, 2008 10:02pm Aug 7, 2008 10:02pm
The U.S. economy is living on borrowed time and money. The dollar printing presses are running at top speed to fund bail out after bail out. The dollar is getting diluted as I write this. Yet it continues to strengthen. There will be a day of reckoning. I just hope it is tomorrow. I am long at the 50%fib on the weekly chart. 1.5227. If it legs down to stop me out then I will have to consider the fact that the EUR may have been over priced for the last 6 months. But, mark my words the dollar is in some deep S..T. Maybe not today. But we will see!

Archer
  • #4,893
  • Aug 7, 2008 10:09pm Aug 7, 2008 10:09pm
What will be your stoploss
  • #4,894
  • Aug 7, 2008 10:11pm Aug 7, 2008 10:11pm
The after trade result:

Bought at 1.5300....Stopped out at 1.5200

And I can't put AH in cause the market didn't continue to 1.5150.....

Oh well, that's why we have MM, this is a business that has losses every once in a while, gotta "take it on the chin" as our master says and look towards the next entry.......

After trade analysis: While 1.5300 did have strong support I should have let the market come to me....sacrificed 50pips or so in order to confirm that the upward trend had returned. Instead I picked the bottom and turned the trade into a loser.

The next entry: I'm gonna sit on my hands for a while and practice patience. Assuming the pattern continues we've got approximately 900 pips up to the top of the range there's plenty there to take some home.....Until we return to the pattern or a downward trend on the daily I'm out of the market and practicing my patience.....
  • #4,895
  • Aug 7, 2008 10:39pm Aug 7, 2008 10:39pm
Stay around (blue@heart) i think your going to see 1.5150 soon this is on a down but dont you think if 1.5150 is hit it will be a long long time till you order is filled and we could all be bears till dec
  • #4,896
  • Aug 7, 2008 11:01pm Aug 7, 2008 11:01pm
Quoting doberman
Think you need a 100pip stop loss
yep. another 100pip SL attached to the AH...
the drop's so swift & i kind of wondered maybe i should wait a bit longer to see where it's heading before kicking in the AH order...
well, gotta be a bit mechanic here by following the rule and see if i got lucky again...

the euro's only 20pips away from its 50% fib (5170 according to my chart) so looks like 5150 is not that far away...

let's see if i'll have to take it on the chin again soon
  • #4,897
  • Aug 8, 2008 12:57am Aug 8, 2008 12:57am
How long can the oil producers ( oil for the timebeing is traded in $) and the ECB allow the $ to go into freefall without them trying to protect their own interests.


Regards,


BabeFX.
  • #4,898
  • Aug 8, 2008 1:35am Aug 8, 2008 1:35am
[quote=BabeFX;2154237]How long can the oil producers ( oil for the timebeing is traded in $) and the ECB allow the $ to go into freefall without them trying to protect their own interests.


What makes you think the dollar is in freefall
It is doing well at 109.50s
  • #4,899
  • Aug 8, 2008 1:37am Aug 8, 2008 1:37am
Quoting doberman

    1. Does anyone know why this movement at this time of the day?

My guess, a lot of buyers filled @1.5300-1.5350 because of a major support and the SL around 50-100pips. Then both US and UK markets closed - thin volume. When Tokyo market opens, they push prices to trigger all SL - sackers!!!

Regards,
Toyogo
  • #4,900
  • Aug 8, 2008 2:48am Aug 8, 2008 2:48am
[quote=doberman;2154287]
Quoting BabeFX
How long can the oil producers ( oil for the timebeing is traded in $) and the ECB allow the $ to go into freefall without them trying to protect their own interests.


What makes you think the dollar is in freefall
It is doing well at 109.50s


doberman,

Please click on the link below for a pictorial definition of the $ value.




http://stockcharts.com/h-sc/ui?s=$USD&p=W&b=5&g=0&id=p74127213924 (http://stockcharts.com/h-sc/ui?s=$USD&p=W&b=5&g=0&id=p74127213924)



Regards,

BabeFX.
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