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  • #18,861
  • Aug 8, 2008 3:25pm Aug 8, 2008 3:25pm
Quoting seesaw
LOLOL, Acumen you have a great sense of humor
Laughter is good for the soul... something like that.
  • #18,862
  • Aug 8, 2008 3:29pm Aug 8, 2008 3:29pm
Quoting steelhead
Im not sure what you mean fresh money. I assume you are saying that you will be taking my money if im long? Maybe im wrong. I will say this though I have been at this game along time, and will be for a long time. I am a swing trader.

So again dont know what you mean but it sounds like you think you are taking my money. rest assured your not.
In no way way I mean you ! Sorry

With fresh money I mean those who whiped out their account and did not learn from.
Most of them will probably repeat the same mistakes over and over.
  • #18,863
  • Aug 8, 2008 3:31pm Aug 8, 2008 3:31pm
We may expect a retracement on monday @ london session..

I'll load my shorts again @ 1.5150 area and the target is 1.4750
  • #18,864
  • Aug 8, 2008 3:33pm Aug 8, 2008 3:33pm
Quoting Clouds
True, there's no map where this thing will go. It's gone mad.
We sure are due for a bounce but I wouldn't buy this dog.
  • #18,865
  • Edited 3:53pm Aug 8, 2008 3:41pm | Edited 3:53pm
Quoting acumen
We sure are due for a bounce but I wouldn't buy this dog.
My monthly TL for EU is around 1.44, or 1.26
  • #18,866
  • Aug 8, 2008 4:01pm Aug 8, 2008 4:01pm
Possibility..
Attached Image
  • #18,867
  • Aug 8, 2008 4:01pm Aug 8, 2008 4:01pm
Quoting Clouds
My monthly TL for EU is around 1.44, or 1.26
1.4400 sounds realistic - it's around the corner

only 2 more days like today
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 09_08_2007 - 08_08_2008 (Daily).jpg Size: 88 KB
  • #18,868
  • Aug 8, 2008 4:23pm Aug 8, 2008 4:23pm
Quoting mokonni
1.4400 sounds realistic - it's around the corner

only 2 more days like today
A good Daily FX read http://www.forexfactory.com/news.php?do=news&id=99787

Points to support of 4960 and retrace
  • #18,869
  • Aug 8, 2008 4:25pm Aug 8, 2008 4:25pm
will the euro retrace back up? What do you guys think? If it goes below this i don't know where it will go.
Attached Image (click to enlarge)
Click to Enlarge Name: euro chart 1 day.JPG Size: 179 KB
  • #18,870
  • Aug 8, 2008 4:25pm Aug 8, 2008 4:25pm
I traded this system only 6 weeks .

I stopped trading it when it made 3 losses in a row ( what never happened before )the day we made the double top.

It only takes " long "trades

It is my first " system" - entry tool - based on MA's and CCI with fixed TP and SL
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  • #18,871
  • Aug 8, 2008 4:38pm Aug 8, 2008 4:38pm
Quoting Jurrasic
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.
I am going have to disagree with you, Jurrasic, this time since I saw a chart somewhere in this forum that has a good indication that the market is gonna continue to slip down.
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  • #18,872
  • Aug 8, 2008 4:57pm Aug 8, 2008 4:57pm
Quoting sed34
will the euro retrace back up? What do you guys think? If it goes below this i don't know where it will go.
Read this http://www.dailyfx.com/story/bio2/Do...202251850.html

The big picture analysis has been spot on but our short term timing has been anything but spot on. The EURUSD coming under 1.5283 satisfies minimum expectations for wave C of IV but expect additional losses over the next few weeks to 1.4668 (roughly). This is the 38.2% of wave III (1.2482-1.6018), and intersects with trendline support next month. This is the ultimate objective and we’ll look to position for the rest of the decline over the next few weeks. 1.5175 and 1.5250 are resistance levels going forward. The pair has sliced through the 200 day SMA, which is currently at 1.5225 (also potential resistance).
  • #18,873
  • Aug 8, 2008 5:17pm Aug 8, 2008 5:17pm
Quoting seesaw
Read this http://www.dailyfx.com/story/bio2/Do...202251850.html

The big picture analysis has been spot on but our short term timing has been anything but spot on. The EURUSD coming under 1.5283 satisfies minimum expectations for wave C of IV but expect additional losses over the next few weeks to 1.4668 (roughly). This is the 38.2% of wave III (1.2482-1.6018), and intersects with trendline support next month. This is the ultimate objective and we’ll look to position for the rest of the decline over the next few weeks. 1.5175 and 1.5250 are resistance levels going forward. The pair has sliced through the 200 day SMA, which is currently at 1.5225 (also potential resistance).
Read this

How NOT To Catch The Euro Knife
http://forexfactory.com/news.php?do=news&id=99845
  • #18,874
  • Aug 8, 2008 5:21pm Aug 8, 2008 5:21pm
Quoting mokonni
I traded this system only 6 weeks .

I stopped trading it when it made 3 losses in a row ( what never happened before )the day we made the double top.

It only takes " long "trades

It is my first " system" - entry tool - based on MA's and CCI with fixed TP and SL
I would call how I trade systemic with an eye on discretion.

I trade using pivots, psyches and trendlines.
  • #18,875
  • Aug 8, 2008 5:24pm Aug 8, 2008 5:24pm
Quoting forexpert
I am going have to disagree with you, Jurrasic, this time since I saw a chart somewhere in this forum that has a good indication that the market is gonna continue to slip down.
Lol that quote of mine is a bit old, in terms of time but aspecialy in terms of pips from yesterday.. But what you're saying I do agree with, I don't see this thing correcting much before it tries for 1.49, the momentum is just crazy for that, it was Friday today and it hardly managed a 60 pip climb from near 1.5. But I'll be carefull and wait for things to develop on monday, hope not to miss the south train.

Have a great weekend all
On the path to Enrichment.
  • #18,876
  • Aug 8, 2008 5:27pm Aug 8, 2008 5:27pm
Quoting mokonni
Read this

How NOT To Catch The Euro Knife
http://forexfactory.com/news.php?do=news&id=99845
Definitely not catching a falling knife! No longs for me for a bit...
  • #18,877
  • Aug 8, 2008 5:44pm Aug 8, 2008 5:44pm
Quoting acumen
I would call how I trade systemic with an eye on discretion.

I trade using pivots, psyches and trendlines.
I was on your website 2 weeks ago and inhalated all the stuff.http://forexfactory.com/images/icons/icon7.gif Thank you for that. Nice work and I got an understanding of how you trade.

I got more discipline since following my system.

But systems do not know about NFP,Trichet etc. So I trade it manually

It's a lot of work finding an approach for a system
  • #18,878
  • Aug 8, 2008 5:45pm Aug 8, 2008 5:45pm
Quoting mokonni
Read this

How NOT To Catch The Euro Knife
http://forexfactory.com/news.php?do=news&id=99845
Morning guys/gals, or it is here anyway, just reading this article thought iwould post it....................


The dollar, whose long decline contributed to the boom in commodities prices over the past year, reached its highest point against the euro since February. Now that other world economies appear to be joining the U.S. economy in a slowdown, the dollar is clawing back and big institutional investors are unloading their commodities holdings.

Barring a physical disruption that may temporarily spike prices, we judge that oil prices have peaked for the next few years,"

"There's a money shift going on," . "You're seeing hedge funds move away from the commodities sector and toward the financial sector."

Good tradin to all
  • #18,879
  • Aug 8, 2008 8:23pm Aug 8, 2008 8:23pm
Quoting Xaron
Just to add: The fundamentals haven't changed yet. At these prices the EUR/USD is a very good buying opportunity (as well as the AUD/USD)!
AUD/USD a good buying opportunity? don't think so! RBA leaving rates on hold with talk of dropping them in the near term that would not do to well for long holders of aud/usd.

Our rates in Aust are set to drop can't see the fed dropping rates in the states any lower. I think the tied is turning. US rates up, here comes the USD.......

EUR/USD and AUD/USD could be in for a futher declines. (longer term out look IMO)

I am still banking on a rally from here holding my long into the new week. Wider stop as a final thrust down is not out of the question just hope not deep enough to catch my stop.

Cheers.

posted chart, check out the decline! what a great move!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 40 KB
  • #18,880
  • Aug 8, 2008 8:49pm Aug 8, 2008 8:49pm
We are still in an uptrend on the EUR/USD, there is a lot of room for correction and the RSI is only at 62 on the monthly charts
Attached Image (click to enlarge)
Click to Enlarge Name: monthly.gif Size: 16 KB
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