EURUSD

is the pivot 1.4768 ?

What indicators do you guys use for Pivot points?

EURUSD

The Euro could not break the resistance at 1.4900 on Friday and declined, testing bids at 1.4700 on today's Asian session. Bias remains on the downside while resistance into the 1.4800 region holds, and extended losses towards recent lows into the 1.4630/50 zone are possible. Intraday studies are bearish at the time of this writing. Current quote is 1.4718 @06:30 GMT
Support levels: 1.4700, 1.4630/50 and 1.4600.
Resistance levels: 1.4800, 1.4850 and 1.4900.
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bearish

Traders...some feedback please. My S/R levels seem to be way off. I was just looking at the chart links that Warren Forex provided us here and my figures are not even close.

I just checked my indicators and I have them set to GMT: as I understood it, most of the institutionals base their levels using GMT as the start of the trading day?

Thoughts and views please

i am long

Here They Are !!!

Aug 25, 2008 4:55am (2 min ago)
mikegonzalez http://www.forexfactory.com/images/s...ser_online.gif
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Member Since Jun 2008
Posts: 47


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is the pivot 1.4768 ?

What indicators do you guys use for Pivot points?

That's s1 around that area, I use pps that Oanda gives me and the link above that Warren posted from actionforex. I'm at GMT+3 and I think they do it from an hour earlier which is Asian open (or maybe two hours which is NY close), anyway they're almost the same ussualy. 770 area is s1, mine is at 771 and action forex's at 768.

I'm not sure but I'm pretty sure a lot of people use the begining of the Asian open to be the starting point of the day. Others are free to correct me if I'm wrong but based on books and websites that I've read. I'm inclined to think that the day should begin when the Aussie opens. (which is 7am Aussie time)

I think its GMT +4

Interesting day. Oil looks like it's forming bottom at the charts and this news came out weekend.

http://uk.reuters.com/article/oilRpt...33019020080823

I have pointed this out many times in the past.

First and Foremost Forex is a business market place.

When New York and Chicago starts around 7:00 AM to 8:30 AM there might be an order to BUY 10 Billion Euro's ?

Guess What the market will move as the order is filled. Then the charts might change so now Black Mindless Boxes from Japan which is now closed execute some trades. Then the momentum folks like some of you pile in. Then Existing Home Sales come in WAY ABOVE or Below Consensus and The Dow Goes Up or Down and Then Maybe The Dow Goes Down So USD/JPY goes Down and then Oil Goes Up so EUR/USD goes Up BUT Carry Trade in EUR/JPY comes back on...

Do you get the Point ?

Things are changing by the second and there are many reasons. If you understand the reasons then you can be aware when it might change again.


Any Questions or Comments ?


Bruce

hey guys wanted to know what time does the US session time end in GMT time pls???

7pm GMT.
Heh.. an irony of fate, the biggest oil reserves are found mostly in the most degenerate countries..

You might find this site useful.

http://www.2008.worldmarkethours.com/Stock/index.htm

It lists the opening time / closing time of every single money market based on your computer clock (and it even counts down to opens and closes automatically). I don't remember how I found it, but I've been using it for like 2 years now.

Just my 2 cents. EU, long term=short
next temporary support 1.41, will break down till strongest hold = 1.36
will share the method when EU reach 1.36
good luck

All of that is pretty simple and straightforward and I think most everybody is aware of that.

The flip side of your scenario can also be true, i.e. somebody with a 10 million sell order for euro waiting for the US open. As it is filled, oil plummets, usdjpy goes up, Dow goes up. All of these activities are not because of some mindless investor. It is a very carefully planned and executed business move by some very shrewed entity. Then the rest of the little traders pile in.

I suspect the drop in eurusd and gbpusd earlier shortly after asia markets opened is due to their reactions to Bernanke's speech Friday. They hadn't had a chance to react because by the time Bernanke took the podium, they had retired for the weekend.

i remember bacvk at 65usd, opec was cutting as shit,..then they stop cutting, and let the market do its job,..it was at 55s when it actually make a bottom,...and markets usually reacts to cutting,...as a lower demand,...so when they will be raising not cutting, the oil will be in uptrend..till then...hm

well...

basically to me.. the fundamentals and medium term trends are short.. and it has touched 1.4750 for a few times now... more prob to go short..

besides it tested 1.4715 a few times too.. perhaps its time to move down and break thru.. and home sales forcast suppose to be better..

well who knows though...

sorry for late reply altrader

http://bellaciao.org/en/spip.php?article16728

The Democratic Convention opens in Denver today. Long Live The Memory of John Fitzgerald Kennedy ...

Snippet:

NOV. 22, 1963 (FRIDAY): John Fitzgerald Kennedy is shot at 12:30 p.m. while riding in an open-top limousine in a motorcade through downtown Dallas. He is pronounced dead at 1 p.m. at Parkland Memorial Hospital. Eighty minutes after the assassination, Lee Harvey Oswald is arrested. Later Oswald is charged with murder.
At this point LBJ his VICE president takes the oath of office and even before the Warren commission is assembled LBJ took the following action:
Within two hours of JFK death - LBJ rescinded Executive Order 111110 and destroyed all the U.S. Notes, JFK had just printed (to replace Federal Reserve Notes). Wow! That’s so interesting only 120 minutes into his tenure he REVERSES almost everything JFK/LBJ ran for under their democratic platform. So LBJ would rather have common hard working US citizens pay for their own soldiers death in the illegal Vietnam war and in debt themselves with billions of dollars of potential future death, debt, and political turmoil generated by the MICs(Mil.Indus.Complex)/Feds controlling war oriented policies.
Flash forward today - we have a repeat under the current administration that is putting the american homeowner into massive debt using the illegal Fed system. Money that is supposed to support job creation, economic growth, and community stability is being drained by the illegal unconstitutional MIC/Fed policies.
Thus is we as earth citizens that seek peace and a stable society devoid of idiotic monetary policies we need to reorganize and place true regulatory control with the people under and system which will serve all of us in a sane and stable say and left the Fed and the privatized banking concerns Rest in Peace . The FED + IMF + world private banks let them rest in peace and lets get on with a global effective system that is not a military schemed society based on created oppositions and policies, and governments to keep the working and honest enslaved and beholden to insanity.

And if they crash the system to dominate us further then invoke the Constitution. Don’t abide by the lunatic$.

NEVER NEVER NEVER Forget !!!


Maybe today the FED announces how many Billions of New US Dollars will be printed to SAVE Their Banker Friends at the Expense of US Dollar Holders.

The More Things Change The More They Stay The Same.

WAKE UP AMERICA !!!

EUR/USD is bouncing Up ...

I told my people to pick UP 100 Euro's For Me (SMILE)




Bruce

Hope so .otherwise it will be very dull day without any trades . wastage of the time .
fontu

Oil touched dayly ltl and bounced hard, around 600 points. If this ltl and support @ ~108.20/50 is taken out then we have only one weekly ltl left @ ~90$. Im waiting now to see aither we get a retrace or it will continue its journey south. If anyone interested i can post my chart.

cheers!