all right, now we drop. a break of the pivot point should send us straight to 1.4700. if we bounce from here i will be looking for another entry to sell again.....cant go long yet.
- #21,762
- Edited 11:48pm Aug 19, 2008 11:47pm | Edited 11:48pm
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- #21,764
- Aug 19, 2008 11:52pm Aug 19, 2008 11:52pm
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- #21,765
- Aug 19, 2008 11:57pm Aug 19, 2008 11:57pm
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- #21,768
- Aug 20, 2008 12:10am Aug 20, 2008 12:10am
06:51 EUR/USD: Dip Below 1.4750 Attracts Fresh Buying London, August 20. EUR/USD toyed with the 1.48"s in Asia but spot only managed to trade to 1.4805 before fresh offers emerged to depress the price back into the 1.47"s. The failure to sustain the break into the 1.48"s will transfer some risk back onto the downside in the short-term and as a result, EUR/USD is looking to edge lower as European traders return.
Trading has dipped below 1.4750 to hit 1.4738 but bids are seen trailing into the 1.4720"s to limit further weakness. On the topside, supply is still touted into the 1.48"s to help cap.
Looking ahead, there is little key data from either leg due intraday so underlying themes will drive short-run volatility. Elsewhere, the clear out of so-called "weaker" positions yesterday should open the risk of fresh medium-term sales but while spot remains in the 1.47"s the risk is seen as slightly more evenly balanced.
Technically, EUR/USD rallied yesterday and intraday candles have already seen a higher high posted. However, EUR/USD will need to witness a higher close on the day to confirm the reversal potential presented by the move higher. [email protected]
thank... i have a short going toward 1.4700 from 1.4770 SL now at 1.4765 /// if it bounces off it will probably touch 1.4800 where im looking to short again. ...but todays pivot looks weak....
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
- #21,769
- Aug 20, 2008 12:14am Aug 20, 2008 12:14am
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- #21,771
- Aug 20, 2008 12:21am Aug 20, 2008 12:21am
Markets quiet now. Are you going short ? What Time Frame ? Are You Going Long ? Why are you going Long ?
Can you answer these questions ? If not stop trading until you can...
Bruce
let me take a shot at this ?
when you short on a quiet market you should used the most common chart time frame like the 5 min chart is a good one. if you are going long you should use the 1H or higher time frames....
never forget to follow your system`s signals or you will loose your pants...fast and painfully...
trust me i had to learn the hard way....i think...
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
- #21,772
- Aug 20, 2008 12:25am Aug 20, 2008 12:25am
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
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- #21,774
- Aug 20, 2008 12:31am Aug 20, 2008 12:31am
- | Membership Revoked | Joined Sep 2006 | 1,802 Posts
let me take a shot at this ?
when you short on a quiet market you should used the most common chart time frame like the 5 min chart is a good one. if you are going long you should use the 1H or higher time frames....
never forget to follow your system`s signals or you will loose your pants...fast and painfully...
i think...
Would you like to improve your FX trading Results ? If So post here and I will enroll you in my FX Trading Course. The Cost is your time to learn. There are no hidden fees or costs. The course will be given online in real time on this currency pair EUR/USD
In order to qualify watch the Video on my signature link and sign in for my course. I teach Fundamentals and Money Management.
Anyone Interested ... Tell me !!!
Bruce
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- #21,777
- Aug 20, 2008 12:37am Aug 20, 2008 12:37am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
Morning 
Looks like we're sitting above the central pivot at 736. Not anough energy to cross or bounce up towards 48 yet. Maybe after GBP news in an hour. Hope you guys caught the small break down to the pivot. Good luck today.
Looks like we're sitting above the central pivot at 736. Not anough energy to cross or bounce up towards 48 yet. Maybe after GBP news in an hour. Hope you guys caught the small break down to the pivot.
Good luck today.
On the path to Enrichment.
- #21,780
- Edited 12:51am Aug 20, 2008 12:45am | Edited 12:51am
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