EURUSD

Ten lots entered at 1.5010, stop loss moved to BE, let´s ride....

lol..

It's not the time to buy..

anything can happen on weekend.. who knows where the price will open?

Be smart..just go with the flow

Looks like profit taking may've started from the bottom of the channel and near 1.5. Right on cue Took out my long with 30 pips and stacking shorts.

I have never seen a fall like this. Made some tonight shorting.

this is a amazing spectacle!

No bottom picking here! Me thinks a decent counter rally will come out of this

Cheers.

any idea where is eur going

Crude oil falls $4.11

to hell if it doesnt change its way

1.4950/4750/4200 or 1.5280/5450

Sorry to hear about your loss videoman555. Earlier today I had significant amount of money invested in Euro and Sterling because I thought these were due for a bit of correction. Thankfully my stops were triggered in time and I ended up making only a minor loss. If I did not have an effective money management in place I probably would have lost a lot more than you. The key to this business is keep your losses minimum and let your profits run. Also NEVER risk anything that you can't afford to lose.

One of the key aspects of understanding market movements is to determine whether it is trending or ranging. Until yesterday Eur/Usd was stuck in a range and today it has started a significant new trend down. I believe that now there are two options for traders. First is to follow the trend. This requires you to know how far the current trend will go before consolidation takes place. Personally I find this tricky because it is nearly impossible to predict the market that accurately. Besides, the market always hits a temporary bottom/top before continuing the larger trend. The second option is to wait for consolidation to take place and then enter the market at the upper resistance of consolidation pattern and target the range lows. I favour the second technique since you are opening your position in the direction of the trend and is more likely to succeed.

The best part of this business is that there are plenty of opportunities to make money and the challenge for us is to be around long enough to take advantage of these opportunities when they arise. Good luck to all and remember winners are those people who constantly learn from their mistakes and constantly strive for success even in the direst of times.

Been watching this forum for quite some time now... thanks to all for sharing the ideas and wisdom... Anyhow, I'm also long - from 1.5029. We'll see what happens, but I'm also willing to hold it for a while - I don't see this lasting very long.

At least 4750 according to the double top, on this scale patterns tend to work better.. plus this unbelievable fall.. Hope to ride it heavy till then.

As a fairly new trader I've had some pretty bad weeks, but this one's been good. I took a small short at 1.5070, tp at 1.5010. I've learned to take small profits and limit my losses as well. Its been a good week for me increasing my account 13.5%. I've just had a hard time having back to back weeks at a high success rate, which is my next goal.

I hope everyone has a great weekend, see you all next week.

Happy trading.

82.4 Degree Drop. Look for a small correction and another drop down.

Looks something like a flagpole / upcoming flag/pennant/.


gratiae.

Did you book the long profits yet?

I did.

Thanks.

Channel UTL currently at 5125 and dropping at 15 pips per hour.

Acumen, I really messed up today with my 53 longs, stupid :S But made it all back and then some now. Hoping for many more drops to profit from next week.

sounds good to me. I will LONG at 1.4955

I'm about to "bite the bullet"....

1.505 -06 Support acting as resistance now...a break above 1.506 will trigger my longs..

Lets see...

As always... Just my 2 Cents...

I think Oil will settle down @ 108/109 i.e, E/U should settle around 1.4750 area

good stuff. It's trying. ECB will cut rates in 2009. Boris Schlossberg is on Bloomberg right now.