EURUSD

You can find tons of brokers in yahoo search for future trading.
Any future broker will allow you to trade oil and other commodities.
You can try Global Futures: http://www.globalfutures.com/

usually H&S is a reversal pattern but i dunno if in this case its going to be continuation

lets watch what will happened to them

not to put you off trading oil .... but it is the beast of all beasts .... even mini oil is $5 per 1 cent

If you have not been very successful in forex trading ... trust me it is much easier and more forgiving than trading oil , I would not go live trading oil.

Just speaking from experince.

Nothing wrong with having a go at a demo ..... www.fxpro.com offers cl ( crude $10 per cent)

Thank you for your view up, I was wondering what timeframe to trade (just demo actually in oil) but as you said: the bulls and bears are fighting and you suggested 5 min, I will take that advice.
Hope we don't mess up the thread with oil talks but it is very related to EUR/USD.
Thanks again

I don't follow EURJPY but when I took a look at it like you suggested I see that this bar was a PinBar. Not sure that a 5min PinBar holds much sway but in this case it did point to a move lower.

So you're saying we likely see 124 more than 100

From the tecnical view I would say that we are on a critical point that needs to be followed up. I trade Fibs and have a lot of respect to this 61.8 level.
I'm not an expert on oil but I think that the OPEC is able to regulate prices just lowering production.

Update On EUR/USD ...


19:31 EUR/USD: Lingers near NY Lows Despite Stock Slide New York, August 25. With the DJIA down 237 with less than an hour before the close, the ability of EUR/USD to linger near the NY session lows at 1.4745 suggest the skeleton crews in the market today are doing their level best not to chase too many low liquidity shadows. The battle between those who think the Fed remains too loose and those who think they are correctly ahead of the other central bankers in the need to ease persists. It is not often US see this pairing lower with stocks and US Trsy yields down as much as they are today. Technically, the intraday rebound attempts were beaten back by the 10-day MA line near 1.4805, but that MA was already cleared the preceding two days. Despite today's slide, a close below Thursday's 1.4732 low is needed to put the bears back in the driver's seat. [email protected]

You have to be a genius to figure out that playing with supply can change prices

Depends on the time frame you trade, I trade 5 min / 10 min charts confirmed by 60 min charts . so for me that doji was of large significance as it signaled the end of the bear flag. It was a high volume up bar , closing in the lower half.

I much prefer this set up on 10 min charts , but sometimes the set ups come on lower time frames. I was looking at the 60 min chart to see the bear flag set up and watching for some sign on a smaller time frame of weakness for a short.

Thanks for your comment, is very helpful.
Prices are made by offer and demand, the OPEC will not offer oil at any price that will not be competitive, there are other producers that don’t belong to the OPEC.
Have a good trading

There are instruments that you can use if you don't want to trade full contracts. Few of them are USO and OIL etfs, they are available from any broker that offers ETFs.

seems everything is calm right now.....

I really not post much, been a few years and I "DO NOT" explain as well as others.
I did make a post for fun and now tell what I do with my 8 Ball trade.
I have watched and learned here and really enjoy how people do. It is exciting to read of other people's trades, I am sad when we lose.
I never have to "Degrade" a person for what they say or how they trade. We "ALL" have our ways!
Losers will naturally degrade others to build self-esteem.
What I do is up to me, I "Never" blame or hold someone responsible for what "I" do, this is my opinion and "my" choice! I am in control of my life.
I do enjoy when someone can help, but never think they give me a "Cure/Fix All".

(Very seldom/less, I "never" go more/above than .25 cents per pip (I speak in USD, convert for your curency). I have gone as much as $1 USD).
OK, on my 8 Ball trade (Opened for fun because of another post!); I decided to T/P @ 1.4752 for +$19.50 @ .50 cents per pip USD profit, because the forward Ichimuko is showing consolidation on H4. H1 is on Senko Span A testing. Always enjoyed playing with the Ichimoku, but, it "may be" more complicated than we need (Think Pivots).
I take "only" profit from my trade and re-enter when the position leaves the Komu Cloud @ +/- which is Bearish at this time. Most likely, after I finish this "soap box speech" the world come to an end and I not get to re-enter.
Looking to be Bearish on the Ichimoku (maybe I should have held my earlier position?).
NO! (a dollar is better than no dolIar, I will explain later) take when appropiate.
Price is below both; "My weekly pivot and my daily pivot"! It is in the "Kumo Cloud". I look for it to test "my" weekly pivot of 1.4776 (Most Important) and daily pivot of 1.4816!
Now! All said;
"My most important indicator is 'Pivots (calcualted manually) and Time (patience)' ."
At .10 (cents/pennies 0r 10% whatever) a pip over time! It adds up.
I use a 20:1 "0r" 30:1 leverage and a 2:1 Profit/Loss (Profit/Loss "MAY" be adjusted for most gain, this for a quick entry and I in on the game and protected until I have time to "THINK").
(Leverage is for those who not have money and "possibly" wish to lose more {****My Opinion****} ).
For a speculated example; The +19.50 over time (patience) @ 3 days a week (Losses calculated into the equation); this about 1/2 of the trading period (Maybe I wrong {Really not care} just try to make an example to put all this into a prospective [To help people] ).
200 days per year +/- (Actually more around 120 days!) , I "MAY" profit $3,900 USD per year!
True, I not get rich, but, when I retire? I be able to spend it! (Also, it is a little more, remember, I "HAVE traded Forex way before Internet {1994} ). I try to put this into a realistic example and expectation!
Example; We just say, $3,000 per year (Have to consider costs of trading {Internet, Computers, and the Blah- Blah's} )
True the "Great Gurus" of Forex, double their money every day from what I read, but, us simple people (Like me) who still have time for, music, drugs (Alcohol) and women, well, we just make a few extra bucks.
3,000 X 10 = 30,000
3,000 X 20 = 60,000
I not have to be greedy, I just want some money to spend when I get old.
My dad died @ 70 and "his" mother (My Grandmother) lived to be 103.
I am in fair health and have good medical care.
I will split the difference @ 15 years and say I live to be 85.
I retire 65 ? with an extra $60,000 with my retirement income. @ 85 - 65 = 20 years.
60,000 / 20 = 3,000. I would have an extra $3,000 per year to spend thanks to Forex, Time and Patience!
All said; Time and Patience are the best indicators. "NOT" how much you make (Greed). With time and patience it builds for you and not against you. When we become greedy, we become desperate!
Then we lose!!!!
"IF" You ever played Poker when you were young ........ then you will understand ...... you never win ..... until you learn and understand the game! I "can/will" share this story if people want to listen!
I not say this for no reason! I wish "EVERYONE" here would make a Million/Billion/Zillon of whatever your "Cash"; Rubble, Dollar, Yen? What ever your currency?
It all the same; we make money or we lose money.
Just like playing poker, we learn when we have the odds in our favor and we know when it a lost bet. I have "Never" won 10 poker hands in a row. Maybe 2-3 of the 10 and very seldom. Even if ... I only win 1 hand ........... I left the table with more money than I came with! (AFTER! I learned!).
WHY????? Look back at the first of what I write! "A dollar is better than no dollar", *and*, the dollars add up over time!
Greed will kill your dollars, yen, rubbles, what-evers!!!!!!!
I really doubt many here have turned $1,000 USD into $100,000 USD in less than a year ****and**** if you have, then you should be more than willing to invite the rest of us over to your home to party! I know I would, just part of being a winner! I buy the rounds at the "horse track" if/when I win big ......... as most everyone does! Are the "Big" winners here "CHICKEN"! If you such a big winner, spend a little as I am sure you can make more!
Why?
Because; "IF" I could do that, I would not be here! I be on my 78 foot/feet boat (Which I do have and own!!!!!!! The Bank not own and I say I own when I buying and say I own!!!!!!!). I CAN post a picture, it is old!
I am "NOT" rich, probably make less per year than most here. "BUT" over time and patience ............... I OWN EVERYTHING I HAVE!!!!!!!!!! I have NO Debt, but, I guess I have no credit. Ask the USA banks now who the better credit risk? Those that deposit money or those that not repay??????? Ha!
This comes from "patience, time and **** money management ****. I work my ass off to get where I am. It did "NOT" come in 2-3 trades from Forex!!!!!!
Well, my mother need to go to the store, hope this help!

I use dxd and ddm to trade the dj-30 in my pension plan . I only trade these two in that account.

dig and dug are what you can use for oil.

http://www.financialsense.com/fsu/ed...2008/0825.html


Bruce

http://www.forexfactory.com/images/s...n/post_new.gif Aug 25, 2008 5:36pm (26 min ago)
http://www.forexfactory.com/customav...tar15409_1.gifItLikePoker
What's really going on?
Member Since Aug 2006
Posts: 30


http://www.forexfactory.com/images/icons/icon1.gif From an earlier post.
I speak in English and hope people understand.
I really not post much, been a few years and I "DO NOT" explain as well as others.
I did make a post for fun and now tell what I do with my 8 Ball trade.
I have watched and learned here and really enjoy how people do. It is exciting to read of other people's trades, I am sad when we lose.
I never have to "Degrade" a person for what they say or how they trade. We "ALL" have our ways!
Losers will naturally degrade others to build self-esteem.
What I do is up to me, I "Never" blame or hold someone responsible for what "I" do, this is my opinion and "my" choice! I am in control of my life.
I do enjoy when someone can help, but never think they give me a "Cure/Fix All".




Thank You For Sharing Your Story...

You said it all. Thank You...


Bruce

http://www.financialsense.com/Market/wrapup.htm

Snippet:


http://www.financialsense.com/Market...rby_banner.gif

Today's Market WrapUp 08.25.2008 Mon Tue Wed Thu Fri Kirby Archive

Wake-Up CallBY ROB KIRBY
Last week, widely regarded silver analyst Ted Butler, reported on recent developments during the July 1 – August 5, 2008 time period in the precious metals complex [specifically, open-interest data in COMEX futures].
Butler’s work shows, as of July 1, 2008, two U.S. banks were short 6,199 contracts of COMEX silver (30,995,000 ounces). As of August 5, 2008, two U.S. banks were short 33,805 contracts of COMEX silver (169,025,000 ounces), an increase of more than five-fold. This is the largest such position by U.S. banks I can find in the data, ever. Between July 14 and August 15th, the price of COMEX silver declined from a peak high of $19.55 (basis September) to a low of $12.22 for a decline of 38%.
For gold, 3 U.S. banks held a short position of 7,787 contracts (778,700 ounces) in July, and 3 U.S. banks held a short position of 86,398 contracts (8,639,800 ounces) in August, an eleven-fold increase and coinciding with a gold price decline of more than $150 per ounce. As was the case with silver, this is the largest short position ever by US banks in the data listed on the CFTC’s site. This position was put on and resulted in massive market price collapse as our GLD gold-price proxy shows:

http://www.financialsense.com/Market...ges/0825.1.jpg

Are you protected?

http://www.financialsense.com/Market...ges/0825.6.jpg

Today’s Market
Overseas equity markets began the week on a positive note with Japan’s Nikkei Index gaining 212 points to 12,878. North American markets went the opposite way with the DOW off 241.80 to 11,386.30, the NASDAQ giving up 49.12 to 2,365.59 and the S & P losing 25.35 to 1,266.85. NYMEX crude oil futures gained .62 to close at 115.21 per barrel.
On foreign exchange markets the U.S. Dollar Index gained .05 to 76.81.
Interest rates eased slightly across the curve with the benchmark 5 yr. bond ending the day at 3.03% and the 10 yr. bond finished the day at 3.79%.
Precious metals ended the day mixed with COMEX gold futures off 1.30 to 822.50 per ounce while COMEX silver futures added .10 to 13.49 per ounce. The XAU Index dropped 1.87 to 146.96 and the HUI Index fell 1.75 to 341.05.
On tap for tomorrow, at 10:00 a.m. August Consumer Confidence data is due to be released – expected 53.0 vs. prior 51.9. Also at 10:00 a.m. July New Home Sales data is due – expected 535K vs. prior 530K. Then at 2:00 p.m. the FOMC is due to release the minutes of their Aug. 5 meeting.
Wishing you all a pleasant evening and a happy tomorrow!

Liquidity was extremely thin, IMM volumes extremely low, and IMM positioning close to flat by the end of the day after being modestly long at one stage (E100mn). All eyes are on tomorrow's slew of German data which will be a litmus test for where we go next; GDP expected -
0.5%.

Be very careful out there.

This means the larger players are sitting around drinking coffee or tea.

Keep in mind Germany is the zone's largest Economy.

I believe they are in a recession and it will get worse.

I remain bullish on the dollar but realistic.

This consolidation we're in probably won't be resolved before summers end.

The dollar bull will likely continue but the market's going to need more confirmation that the US can weather it's plethora of problems.

Additionally - it wants to see what Trichet and company will do next. His last move helped push the Zone over the edge - what will his next move do?

Mike

Brilliant. London was closed and its high season for vacationers so volume being low is just as expected. Too bad the Olympics are over and there are no medals left to award.