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  • #22,961
  • Aug 22, 2008 12:13pm Aug 22, 2008 12:13pm
Almost time to go long?

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  • #22,962
  • Aug 22, 2008 12:16pm Aug 22, 2008 12:16pm
Quoting Maarten999
Almost time to go long?

Attachment
But for how long? Looks like a continuation flag pattern to me.
  • #22,963
  • Aug 22, 2008 12:19pm Aug 22, 2008 12:19pm
Quoting Maarten999
Almost time to go long?

Attachment
u might miss the train
waitin for 73
  • #22,964
  • Aug 22, 2008 12:21pm Aug 22, 2008 12:21pm
Got part in at 790, hope it won't end up like this morning..
On the path to Enrichment.
  • #22,965
  • Aug 22, 2008 12:23pm Aug 22, 2008 12:23pm
Quoting fxterrapin
But for how long? Looks like a continuation flag pattern to me.
Now that you mention it........

Maarten
  • #22,966
  • Aug 22, 2008 12:24pm Aug 22, 2008 12:24pm
Quoting SunTrader
I agree. I was referring to others looking for an new entry. Or someone who might want to add to their position.

Sorry - it wasn't aimed at you.

I read your posts.
  • #22,967
  • Aug 22, 2008 12:29pm Aug 22, 2008 12:29pm
My 60min chart shows channel is already broke???
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  • #22,968
  • Aug 22, 2008 12:30pm Aug 22, 2008 12:30pm
Quoting FX-Petra
I will repeat myself from a few days ago... There has not been a 100% retrace of a major up leg for Eur/Usd since Nov. of '02. There cannot be a 100% retrace of the latest leg up until we breach 1.43. Right now we are in a countertrend that may or may not breach 1.43 and change the direction of the long term up trend we have been in for several years. Until then, the LONG TERM trend is still very much up. We well have to see where this countertrend takes us. Many, many traders have gone broke predicting trend reversal in E/U. Even the 100% + retrace in '02 was a fake out and the up trend resumed several weeks later.
No it's not... but as I always recommend.... you keep buying.
  • #22,969
  • Aug 22, 2008 12:33pm Aug 22, 2008 12:33pm
Quoting SunTrader
My 60min chart shows channel is already broke???
What are you looking at?
  • #22,970
  • Aug 22, 2008 12:37pm Aug 22, 2008 12:37pm
Been busy trading all day ... just taking a breather

eurusd has been unkind to me today ...lol .. I kept on thikning bounce off 1.4800 for sure but we are getting lower highs on 10 min chart and the 50 sma is forming resistance .. so now i have it .. short off 50 sma,

The daily chart of eurusd is interesting ... we have not cracked yesterdays low yet .... so there fore with higher lows on the daily the trend is still up and there ius a bullish bias in my opinion.

Oil has retraced to 50 % fib of the move up .. I have been playing the long / short side for most of the day , catching some nice long bounces off the 38 % fib at 118.2 , till the bottom of the bear flag and the bullish divergence broke on the rsi.

If oil break 117 next week then we may well see more downward bias in the eurusd.

The interesting thing about today .. oil dropped $4 on US session .... and eurusd only moved 70 pips ..... I do not think the currency traders are biting.
Blogging daily now at www.volume.zone
  • #22,971
  • Aug 22, 2008 12:37pm Aug 22, 2008 12:37pm
Quoting SunTrader
My 60min chart shows channel is already broke???
Hmm.. Your weekly and daily pivots are way off mark I believe... I got weekly at 809, today's pp is at 840 and s1 is at about 770-780..

http://www.actionforex.com/technical...603205734/#top
On the path to Enrichment.
  • #22,972
  • Aug 22, 2008 12:38pm Aug 22, 2008 12:38pm
Quoting Maarten999
What are you looking at?
It says across the top of my chart EURUSD 60min. And the channel is drawn from yesterday morning's low. And I am on EST.

What are you looking at?
  • #22,973
  • Aug 22, 2008 12:40pm Aug 22, 2008 12:40pm
I see now, your channel goes back further.
  • #22,974
  • Aug 22, 2008 12:40pm Aug 22, 2008 12:40pm
Quoting SunTrader
It says across the top of my chart EURUSD 60min. And the channel is drawn from yesterday morning's low. And I am on EST.

What are you looking at?
It says at the top of my chart euro/usd 60min
  • #22,975
  • Aug 22, 2008 12:49pm Aug 22, 2008 12:49pm
since the touch of 1.49, my timeframes all indicate lower highs and lower lows...at least until this 1.4790-80 area which seems to be holding up...so far. But it seems the bounce off this level is getting lower each time. Just my observations, good luck to all.
  • #22,976
  • Aug 22, 2008 1:02pm Aug 22, 2008 1:02pm
Quoting bigandrich
since the touch of 1.49, my timeframes all indicate lower highs and lower lows...at least until this 1.4790-80 area which seems to be holding up...so far. But it seems the bounce off this level is getting lower each time. Just my observations, good luck to all.
I might screw this up. It's my first post. I've been short since 1.4812, headed to 1.4775. Friday afternoon volume will not permit that, I don't think, but open to a pleasant surprise. Sitting at +17 presently. Slim pickings Friday.

Ed
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Up or down, gimme a ticket
  • #22,977
  • Aug 22, 2008 1:09pm Aug 22, 2008 1:09pm
New Intraday update
http://3.bp.blogspot.com/_nmIuQsC9b-...erver+8888.png
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  • #22,978
  • Aug 22, 2008 1:15pm Aug 22, 2008 1:15pm
Exactly Ed
  • #22,979
  • Aug 22, 2008 1:17pm Aug 22, 2008 1:17pm
Quoting SpecialEd
I might screw this up. It's my first post. I've been short since 1.4812, headed to 1.4775. Friday afternoon volume will not permit that, I don't think, but open to a pleasant surprise. Sitting at +17 presently. Slim pickings Friday.

Ed
I did the same thing on the way down earlier and scalped 24 pips. Might end up as low as 4750 by the end of NY. Strong support there over the past several days/weeks. I grew my live account by 23% this week and I am up 44.5% for the month of August, mostly shorting this pair. Gotta love it!!
Time for a icy cold brew!!
  • #22,980
  • Aug 22, 2008 1:17pm Aug 22, 2008 1:17pm
I don't know if most just have time based charts, but here is what an 89 tick bar looks like today. It ain't pretty for the bulls. There is always next week.
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