{Promotion Removed}
- #19,747
- Aug 12, 2008 3:58am Aug 12, 2008 3:58am
- Joined Jul 2008 | Status: Trader | 1,722 Posts
Good morning all,
Looks like EUR / USD claimed more victims...even here in FF..70 instead of around 140 traders here this morning...
It only made first bull target yesterday, after slicing 1.5 what seemed to be start of reversal...turned out a bull trap...and dropped towards today's low of 1.483, I was over optimistic myself about this one...
Market has become to choppy and unpredictable, on one side I expect a reversal to come, on the other 1.48 might not be the bottom yet.
I'm looking to see if 1.49 holds or if we see another drop in today's Europe & USA sessions
My forecast in current situation:
Ranging between 1.482 - 1.492 to scalp, if we see further movement north above 1.492 only trade long with extreme caution...
As always...Just my (cautious) 2 Cents...
Forgive such a newbie question, but that's me. Gotta ask to learn.
Thanks.
Ed
Up or down, gimme a ticket
- #19,750
- Aug 12, 2008 4:07am Aug 12, 2008 4:07am
- | Joined Jun 2008 | Status: Forex Warrior | 36 Posts
Good morning, Shadow. I've seen several of you say that if it goes above 1.492, look for a big down/short. Why do you say that? Why would it not continue up?
Forgive such a newbie question, but that's me. Gotta ask to learn.
Thanks.
Ed
To answer to your question. The movement of the currency determined by the demand and supply. HUMAN plays an important roles in this saga. So for today, there's no BIG IMPACT news for the EURO side to push the price to the north like rocket. And neither on the US side. So the technical point of view, you can see the S&R have been breached many times and we're expecting new low. As far as FA concern.. there's no big deal for today. The market will be very choppy today.
Just my 2 cents.
- #19,753
- Aug 12, 2008 4:10am Aug 12, 2008 4:10am
Holding Shorts since 1.5500 (no Stops),and yesterday we did add at 1.4925 (stops to Entry) Daily Target 1.4711
- #19,755
- Aug 12, 2008 4:15am Aug 12, 2008 4:15am
- Joined Jul 2008 | Status: Trader | 1,722 Posts
Hi,
To answer to your question. The movement of the currency determined by the demand and supply. HUMAN plays an important roles in this saga. So for today, there's no BIG IMPACT news for the EURO side to push the price to the north like rocket. And neither on the US side. So the technical point of view, you can see the S&R have been breached many times and we're expecting new low. As far as FA concern.. there's no big deal for today. The market will be very choppy today.
Just my 2 cents.
Up or down, gimme a ticket
- #19,756
- Edited 4:27am Aug 12, 2008 4:17am | Edited 4:27am
Could you please post your trades immediately after you take 'em so that it will useful to members on this thread But stop posting about trades which you have taken long back.
Some people think very global, but trade very local.
{Promotion Removed}
- #19,757
- Aug 12, 2008 4:17am Aug 12, 2008 4:17am
Good morning, Shadow. I've seen several of you say that if it goes above 1.492, look for a big down/short. Why do you say that? Why would it not continue up?
Forgive such a newbie question, but that's me. Gotta ask to learn.
Thanks.
Ed
Your question been already partly answered. just to complete the picture:
We need to find a solid bottom / base first which could be a daily or weekly pivot supported by fundamentals & economic outlook indicators to give the EUR the strength to start a solid reversal, market sentiment is still bearish, stop hunting still continues and more important every move up from the EUR sees a "counter attack" in Gold or Oil dropping.
Big question is, where is the bottom, where is the base...it's all guesstimate IMO currently, hence trade with extreme caution in a very choppy & volatile market
As always...Just my 2 Cents...
(Patent pending)
- #19,758
- Aug 12, 2008 4:26am Aug 12, 2008 4:26am
- Joined Jul 2008 | Status: Trader | 1,722 Posts
Hi Ed,
Your question been already partly answered. just to complete the picture:
We need to find a solid bottom / base first which could be a daily or weekly pivot supported by fundamentals & economic outlook indicators to give the EUR the strength to start a solid reversal, market sentiment is still bearish, stop hunting still continues and more important every move up from the EUR sees a "counter attack" in Gold or Oil dropping.
Big question is, where is the bottom, where is the base...it's all guesstimate IMO currently, hence trade with extreme caution in a very choppy & volatile market
As always...Just my 2 Cents...
(Patent pending)
Ed
Up or down, gimme a ticket
- #19,759
- Aug 12, 2008 4:27am Aug 12, 2008 4:27am
0911 GMT [Dow Jones] EUR/USD spikes back above 1.49 on wire headlines that Russian president Medvedev has ordered an end to military operations in Georgia. EUR/USD now trades at 1.4920 from around 1.4870 before the news. (GST)
"Spike" is keyword here, no change of market sentiment...
"Spike" is keyword here, no change of market sentiment...