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  • #22,441
  • Aug 21, 2008 4:49pm Aug 21, 2008 4:49pm
There is also some bearish harmonic pattern, I'm going short when this H1 candle close with SL=25 and TP=60.
  • #22,442
  • Aug 21, 2008 4:49pm Aug 21, 2008 4:49pm
I have been playing the majors a lot lately along with the gj. I dont trade the futures but it is a goal for the new year. I do watch them and chart them just as I do the currencies. Seems like the daily gann around 4898 is holding eu back a bit now but Im with you...I think there are plenty of long pips on the long side yet. Fannie and freddy problems are weakening the US dollar also so the eur may suprise us more to the upside.

Quoting malcolmb14
Hi Pipchick

Been lurking in here as have been trading eu with oil on the move.

I think we see higher ....

we may get a little retracement into 1.4890 zone , but unless oil drops ( unlikely till things settle down in Russia) we will see 1.4975 / 1.5000 / 1.5350 ( last target would tie in nicely with the support zone that we dropped through without re-testing yet)

I am playing this one for day trades in the US session as that seems to be the time that oil starts to move. I missed the big move up this morning .. made a few pips but was not focused enough as I was messing around with some new volume spread analysis software ( by the way that gave an awesome buy signal on GJ three bars off the low this morning but i did not know what I was looking at so did not trade it ...lol). I only scored 25 , 20 and 30 today in EU.

Not sure if you trade futures but I see 124 and up oil. I have been long since mid 113. ....almost 800 pips overnight.
  • #22,443
  • Aug 21, 2008 4:58pm Aug 21, 2008 4:58pm
any one here trade with oil
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  • #22,444
  • Aug 21, 2008 5:05pm Aug 21, 2008 5:05pm
Quoting artsameer
any one here trade with oil

I trade oil ... CL contract

looking to stay long till 124 .....then see what happens from there. At this rate we could see a break out of 150 if things in Russia are not resolved soon.
Blogging daily now at www.volume.zone
  • #22,445
  • Aug 21, 2008 5:08pm Aug 21, 2008 5:08pm
Quoting malcolmb14
I trade oil ... CL contract

looking to stay long till 124 .....then see what happens from there. At this rate we could see a break out of 150 if things in Russia are not resolved soon.
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  • #22,446
  • Aug 21, 2008 5:10pm Aug 21, 2008 5:10pm
Quoting malcolmb14
I trade oil ... CL contract

looking to stay long till 124 .....then see what happens from there. At this rate we could see a break out of 150 if things in Russia are not resolved soon.
do you think we can see 124 tomorrow
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  • #22,447
  • Aug 21, 2008 5:12pm Aug 21, 2008 5:12pm
Quoting malcolmb14
I trade oil ... CL contract

looking to stay long till 124 .....then see what happens from there. At this rate we could see a break out of 150 if things in Russia are not resolved soon.
Because you're fearful of a new cold war?
  • #22,448
  • Aug 21, 2008 5:14pm Aug 21, 2008 5:14pm
Oil's headed up again, we've had the necessary correction if you look at the charts.
Patience + Humility + Study = Success
  • #22,449
  • Aug 21, 2008 5:20pm Aug 21, 2008 5:20pm
oil cant influence on eu move during asian session

but gold yes and usd index also.
simply correction to trendline very very easy money tonite (in Poland ofc) .
Attached Image
  • #22,450
  • Aug 21, 2008 5:25pm Aug 21, 2008 5:25pm
Quoting acumen
Because you're fearful of a new cold war?
well I am fearful as war is a waste of time and lives.

But this is not the forum to discuss that

From a technical stand point i saw the start of a rounded bottom formation on the daily , which I considered bullish. That made me go long yesterday on the rebound ... the fact that is just took off and i was able to move stop to +50 points quickly enabled me to stay in the trade.
Blogging daily now at www.volume.zone
  • #22,451
  • Aug 21, 2008 5:26pm Aug 21, 2008 5:26pm
Oil will come off this level for sure - down, that is. Perhaps not tomorrow, but next week oil will be down to $118 conservatively. Then depending on how the hurricane season progresses, possible slow uptrend.

Not sure how much lower EU will be taken down along with it but I do believe we're going to see a fall from here.
  • #22,452
  • Aug 21, 2008 5:26pm Aug 21, 2008 5:26pm
Quoting 5ysfx
oil cant influence on eu move during asian session

but gold yes and usd index also.
simply correction to trendline very very easy money tonite (in Poland ofc) .
Twoim zdaniem do ilu edek dzisiaj w nocy zjedzie?

Pozdrawiam
  • #22,453
  • Aug 21, 2008 5:26pm Aug 21, 2008 5:26pm
Quoting 5ysfx
oil cant influence on eu move during asian session

but gold yes and usd index also.
simply correction to trendline very very easy money tonite (in Poland ofc) .

There is a lot of resistance between here and 1.4800 ... just not sure she is going to get there
Blogging daily now at www.volume.zone
  • #22,454
  • Aug 21, 2008 5:28pm Aug 21, 2008 5:28pm
Quoting Subdude
Oil will come off this level for sure - down, that is. Perhaps not tomorrow, but next week oil will be down to $118 conservatively. Then depending on how the hurricane season progresses, possible slow uptrend.

Not sure how much lower EU will be taken down along with it but I do believe we're going to see a fall from here.

Oil has nothing to do with hurricanes riht now. 90% of Europes oil is supplied by Russia. If things kick off over there the supply will be cut off and economic sanctions imposed on the EU by the USA. Forget 150 oil .... think closer to 200
Blogging daily now at www.volume.zone
  • #22,455
  • Aug 21, 2008 5:32pm Aug 21, 2008 5:32pm
Quoting toze30
Twoim zdaniem do ilu edek dzisiaj w nocy zjedzie?

Pozdrawiam
wlacz priv na chwile to moze sie jakos dogadamy.
i dodaj mnie do buddy list



sorry for this friends.
  • #22,456
  • Aug 21, 2008 5:35pm Aug 21, 2008 5:35pm
Make same Charts and you will know level of retresmant.


http://4.bp.blogspot.com/_nmIuQsC9b-...erver++eur.png
http://3.bp.blogspot.com/_nmIuQsC9b-...Server++e1.png

I removed levels of retresmant, becouse I'm still not assured about exactly levels........Daily pivot it's important level ,,,,,,,,if it breaks goe's North, if rebounds will go South for some retreasment,,,,,,,,,,for now all FOREX WORLD it's waiting wich way to go,,,,,,,,I waiting to (I'm toalking Intraday, but Daily no question it's Long)


I post 2 Charts. One it's made in mornig other one now. I want to show how moves chanal line North fallow time. It expains "Why I'm not sure about retreasment levels.
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  • #22,457
  • Aug 21, 2008 5:35pm Aug 21, 2008 5:35pm
retrace/pullback in effect...not sure for how much.

1.4850 would be nice entry..
  • #22,458
  • Aug 21, 2008 5:36pm Aug 21, 2008 5:36pm
Also H&S formation, after pull back we can go higher to fill the formation. But now I'm trading short because of H1 candle and harmonic formation.
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  • #22,459
  • Aug 21, 2008 5:39pm Aug 21, 2008 5:39pm
Quoting malcolmb14
Oil has nothing to do with hurricanes riht now. 90% of Europes oil is supplied by Russia. If things kick off over there the supply will be cut off and economic sanctions imposed on the EU by the USA. Forget 150 oil .... think closer to 200
As it happens, oil is already down half a buck in the time we've exchanged these posts. Can you provide the source of the 90% estimate you're giving? Europe is not the largest oil consumer (not even close), and Russia is not the largest world oil supplier. I completely understand your bullish bias given that you have a long position but it seems you have some wishful thinking to exorcise at the moment.
  • #22,460
  • Aug 21, 2008 5:42pm Aug 21, 2008 5:42pm
Saudi Arabia is the first but Russia is second supplier, and of course USA is the largest consumer.
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