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  • #20,721
  • Aug 15, 2008 7:04am Aug 15, 2008 7:04am
Quoting seesaw
We have been oversold technically for a week now and the pair still continues to go down. Hmmm...maybe Warren you should revise your strategy a tad bit and go short, you might be happier
My strategy is to WIN ! I never marry to one view. When factors change, I change. I am trading USd/JPY short now. Not in EUR/USD until it reverses.

Good Trading !!!


Bruce
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  • #20,722
  • Aug 15, 2008 7:08am Aug 15, 2008 7:08am
For what it's worth, Euro at 1.4700 is 50% retracement of Swing Low at 1.3359 to Swing High of 1.6037. This is a a major support point and price have bounce of it, and currently Cable is holding at Weekly Support of 1.8510 area. Just some technical views for everyone.




Cheers
Stanley
  • #20,723
  • Aug 15, 2008 7:14am Aug 15, 2008 7:14am
Is it an irrational thought to think that the big guys who support the Euro deliberately pushed hard upwards at the Euro to make it 'look' like it was going to go up to the Americans just begining their trading day?--so it tricks them into buying instead of shorting?

Is this a paranoid thought from me?
  • #20,724
  • Aug 15, 2008 7:16am Aug 15, 2008 7:16am
plese whose shorting please buzzzzzzzzzzzzzzzzzzzzzz.
  • #20,725
  • Aug 15, 2008 7:17am Aug 15, 2008 7:17am
Quoting altrader
Is it an irrational thought to think that the big guys who support the Euro deliberately pushed hard upwards at the Euro to make it 'look' like it was going to go up to the Americans just begining their trading day?--so it tricks them into buying instead of shorting?

Is this a paranoid thought from me?
In that the volume was light I do not think so. Anything is possible in Forex !

Great Trading !!!


Bruce
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  • #20,726
  • Aug 15, 2008 7:19am Aug 15, 2008 7:19am
8:30 US Empire Manufacturing August Exp: -4.2 Prior: -4.9
9:00 US Net Long-term TIC Flows June Exp: $60.0 Prior: $67.0B
9:00 US Total Net TIC Flows June Prior: -$2.5B
9:15 US Industrial Production July Exp: 0.0% Prior: +0.5%
9:15 US Capacity Utilization July Exp: +79.8% Prior: +79.9%
10:00 US U. of Michigan Confidence August Preliminary Exp: 62.0 Prior: 61.2
12:30 US Chicago Fed's Evans to Speak on Economic Outlook in Illinois
By Neils Christensen, [color=#0253b7][email protected][/color]
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  • #20,727
  • Aug 15, 2008 7:24am Aug 15, 2008 7:24am
Quoting Warren Forex
In that the volume was light I do not think so. Anything is possible in Forex !

Great Trading !!!


Bruce
So you mean that when it shoots up really quickly like that, it means that there would be quite a lot of volume traded during that period?

Or in other words....when ever price action jumps up a lot in a short period of time, does that suggest that a lot of volume was traded during that period?
  • #20,728
  • Aug 15, 2008 7:24am Aug 15, 2008 7:24am
Quoting TradeCell
For what it's worth, Euro at 1.4700 is 50% retracement of Swing Low at 1.3359 to Swing High of 1.6037. This is a a major support point and price have bounce of it, and currently Cable is holding at Weekly Support of 1.8510 area. Just some technical views for everyone.




Cheers
Stanley
Just a gut feeling that after today we are at the bottom in Gold, Oil, Euro and British Pound. US Dollar Index at the Top and Dow at the Top...

We Shall See !!!


Bruce
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  • #20,729
  • Aug 15, 2008 7:27am Aug 15, 2008 7:27am
Quoting altrader
So you mean that when it shoots up really quickly like that, it means that there would be quite a lot of volume traded during that period?

Or in other words....when ever price action jumps up a lot in a short period of time, does that suggest that a lot of volume was traded during that period?
I trade 24/24 and I see the patterns overnight. When the market is quiet. I think there is holiday in Europe so the volume has been light. It takes less volume in quiet markets to move things. If I had $50,000,000 to use I probably could paint the tape.


Bruce
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  • #20,730
  • Aug 15, 2008 7:30am Aug 15, 2008 7:30am
Important Point To Think About !

There is news coming out in seconds and until 10:00 AM

Watch how EUR/USD reacts to News GOOD or BAD and there is where you get a real feel for things ...

Later Folks !!!


Bruce
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  • #20,731
  • Edited 7:37am Aug 15, 2008 7:36am | Edited 7:37am
US data very green. Expecting it to go wayyyyy down south. The rest of the news is expected to green as well since US news has been given very low expectations lately so very easy to beat.
Expected the unexpected
  • #20,732
  • Aug 15, 2008 7:37am Aug 15, 2008 7:37am
Quoting Warren Forex
8:30 US Empire Manufacturing August Exp: -4.2 Prior: -4.9
9:00 US Net Long-term TIC Flows June Exp: $60.0 Prior: $67.0B
9:00 US Total Net TIC Flows June Prior: -$2.5B
9:15 US Industrial Production July Exp: 0.0% Prior: +0.5%
9:15 US Capacity Utilization July Exp: +79.8% Prior: +79.9%
10:00 US U. of Michigan Confidence August Preliminary Exp: 62.0 Prior: 61.2
12:30 US Chicago Fed's Evans to Speak on Economic Outlook in Illinois
By Neils Christensen, [color=#0253b7][email protected][/color]
Thanks for posting this.

Don't take a position until the news has been released and digested.

Most won't listen... ahhhh.... Fridays... the day you give back all the gains you made Monday through Thursday.
  • #20,733
  • Aug 15, 2008 7:41am Aug 15, 2008 7:41am
Quoting indotrader
my first TP 4750, long term 4450
my first TP yesterday reached.. closed my long term short just now.. and Im looking to sell again around 4790 area with tight SL 1st TP same 4750 not looking to buy neither scalp as warren forex also say Im also watching commodities and DOW price and I just dont have a good enough reason to enter the market until I see 4790.. if 4790 breached then I might sell again at 4840 area.. thats my trading plan for now
Money often costs too much...
  • #20,734
  • Aug 15, 2008 7:43am Aug 15, 2008 7:43am
Quoting Warren Forex
Important Point To Think About !

There is news coming out in seconds and until 10:00 AM

Watch how EUR/USD reacts to News GOOD or BAD and there is where you get a real feel for things ...

Later Folks !!!


Bruce
cool thanks, I'll watch out for that
  • #20,735
  • Aug 15, 2008 7:44am Aug 15, 2008 7:44am
Quoting Warren Forex
I trade 24/24 and I see the patterns overnight. When the market is quiet. I think there is holiday in Europe so the volume has been light. It takes less volume in quiet markets to move things. If I had $50,000,000 to use I probably could paint the tape.


Bruce
ohh, I understand what you mean now. Thanks for the explanation
  • #20,736
  • Aug 15, 2008 7:46am Aug 15, 2008 7:46am
Which you think? 4500, or 3500 area?
  • #20,737
  • Aug 15, 2008 7:54am Aug 15, 2008 7:54am
This number can move the market if it is BAD ! This represents money flowing into the USA to finance the debt. When it drops below 65 Billion it is not good.

Again watch reaction to news as well. It comes out in 5 minutes or so at 9:00 AM


Bruce
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  • #20,738
  • Aug 15, 2008 7:57am Aug 15, 2008 7:57am
i dont think it can get to 4500
  • #20,739
  • Aug 15, 2008 7:58am Aug 15, 2008 7:58am
Quoting finian204rea
i dont think it can get to 4500
what do you mean? Like never? or today? time frame?
  • #20,740
  • Aug 15, 2008 8:04am Aug 15, 2008 8:04am
Quoting Warren Forex
I only posted the information without opinion ! Let us both watch and see if "NO WAY" comes out of this your way hopefully !

Peace Out ... Good Trading ... When Common Sense TRUMPS Ego, You have learned how to be a winner in Forex if you also have the other needed tools.

EUR/USD Bid 1.47437


Bruce
No Way Always Loses In Forex !

I hope WE all remember that. There is no disrespect meant or directed here. I just want to share lessons here so we all can improve and make money !

Peace Out Folks !!!


Bruce
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