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EURUSD

  • #24,261
  • Aug 26, 2008 10:30pm Aug 26, 2008 10:30pm
It just might go north from here...
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 34 KB
  • #24,262
  • Aug 26, 2008 10:33pm Aug 26, 2008 10:33pm
Quoting oolides
short at 1.4692.stop loss 30 pips.didn't want to lose a dime today.jumped in too early
The Asian session is known for it's bizarre price action.

The jump isn't sustainable.
  • #24,263
  • Aug 26, 2008 10:35pm Aug 26, 2008 10:35pm
Quoting akirax
hourly may end with tweezer tops...

which would indicate sell..
EU has been reminding me of when i was trading GY alot... slightly psychotic and unstable at times. one of the first things I learned with the beast, is that it never read the candlestick books. I've seen it eat tweezer tops cuz they looked good...

If price is gonna go up, but just not right now, and it keeps making forays into the "just above the figure" area, or any other classic S/R level, and eating up all those juicy stops just over the line, like EU is doing the last couple hours, but without falling or collapsing, I always pay very close attention...

FWIW, EJ is at the 160.50 level and doing the same thing for over 3 hrs now.

The conspiracy side of my brain says it's a potential bull trap, w/o much EU or UK news to speak of tonite, prior to the US news in the morning. The other side of my brain is telling the first side to shut up and watch the charts.

I know, that didn't help much. But if it turns out I'm right, you'll remember that the next time you see them treezers and you were wrong on the shorts... I'm hanging on to my shorts either way.
FUBAR...
  • #24,264
  • Aug 26, 2008 10:38pm Aug 26, 2008 10:38pm
That is a nice jump 25 pips and counting.
  • #24,265
  • Aug 26, 2008 10:39pm Aug 26, 2008 10:39pm
crazy spike up..

yeah 30 SL is too tight..
  • #24,266
  • Aug 26, 2008 10:41pm Aug 26, 2008 10:41pm
GM guys,

I believe you short guys should be carefull, under the circumstances. I'm holding short too but the sl is 4815 - if it reaches there then really we should go waaay higher to at least first fib level of the fall from 1.6 as it seems. Less safer but tighter would be behind the weekly pivot at 777. I'll be adding yet another short if we get close below it, sl 815 too. Good luck
Quoting ak4x
EU has been reminding me of when i was trading GY alot... slightly psychotic and unstable at times. one of the first things I learned with the beast, is that it never read the candlestick books. I've seen it eat tweezer tops cuz they looked good...
To every chaos there's order I believe. There just has to be anough chaos to make most people loose..
On the path to Enrichment.
  • #24,267
  • Aug 26, 2008 10:41pm Aug 26, 2008 10:41pm
Quoting akirax
tweezer tops being tested as accerlation occurred soon after the close.

tweezer tops look to be negated...
my tp was at 1.4735... going to enjoy a good soak now
good luck and good trades
  • #24,268
  • Aug 26, 2008 10:41pm Aug 26, 2008 10:41pm
Hey suntrader, here we go with the shongs and lorts again...

btw, moe still in exile?
FUBAR...
  • #24,269
  • Aug 26, 2008 10:46pm Aug 26, 2008 10:46pm
Quoting ak4x
Hey suntrader, here we go with the shongs and lorts again...

btw, moe still in exile?
I sure hope so. Not a fan is an understatement. And will leave it at that.
  • #24,270
  • Aug 26, 2008 10:48pm Aug 26, 2008 10:48pm
can someone explain why will we see such spilkes in market?

actually what happens?

for example prices shot UP...

someone placed a large order of LONG>?
  • #24,271
  • Aug 26, 2008 10:50pm Aug 26, 2008 10:50pm
Daily r1 at 753.
On the path to Enrichment.
  • #24,272
  • Aug 26, 2008 10:50pm Aug 26, 2008 10:50pm
Quoting trading801
can someone explain why will we see such spilkes in market?

actually what happens?

for example prices shot UP...

someone placed a large order of LONG>?
Ya that was me about 5 hours ago

http://www.forexfactory.com/showpost...ostcount=24138
  • #24,273
  • Aug 26, 2008 10:50pm Aug 26, 2008 10:50pm
A 60m chart without comments. Leave it to y'all to decide since most won't listen anyway.

Attached Image (click to enlarge)
Click to Enlarge Name: EU60min.PNG Size: 32 KB
  • #24,274
  • Aug 26, 2008 10:51pm Aug 26, 2008 10:51pm
Quoting z astronaut
my tp was at 1.4735... going to enjoy a good soak now
good luck and good trades
dont know if it will or not but good trade nonetheless...

I think there's enough time to hit the 4779 b4 the expected drop...maybe take half here and let the rest ride...
  • #24,275
  • Aug 26, 2008 10:53pm Aug 26, 2008 10:53pm
Quoting trading801
can someone explain why will we see such spilkes in market?

actually what happens?

for example prices shot UP...

someone placed a large order of LONG>?
Please refer to post #24150:

Many central banks have already stated their "fair value" price for this pair at 1.45~ by year end. Knowing that we are already in this zone, I believe this pair will consolidate between 1.4500 - 1.5000 for the coming months. We may see a brief blip to 1.4350-1.4400, but expect a sharp bounce from those levels.

Understand that the market has been pricing in the easing of the ECB over the past month+. Interest rate differentials are still the same and will be for quite some time. I don't think we see this pair move from this range until either the US hikes rates OR the ECB lowers rates. Until then, expect choppy sideways trading until someone makes the rate move!

Enjoy!
Pippin ain't easy, but it sho is fun!
  • #24,276
  • Aug 26, 2008 10:53pm Aug 26, 2008 10:53pm
Quoting SunTrader
A 60m chart without comments. Leave it to y'all to decide since most won't listen anyway.

please elaborate, Im interested in your analysis, mine is that it could reach 4779 before time to go down(as most are expecting).
  • #24,277
  • Aug 26, 2008 10:54pm Aug 26, 2008 10:54pm
Quoting trading801
can someone explain why will we see such spilkes in market?

actually what happens?

for example prices shot UP...

someone placed a large order of LONG>?
Many factors.
1. Could be a large player trying to trigger stops
2. Could be a large buy order.
3. A Cross play being executed.
4. News (but on this occasion unlikely)
5. Thin market (lunchtime square up)
  • #24,278
  • Aug 26, 2008 10:57pm Aug 26, 2008 10:57pm
How about this it was a buy setup like I have been saying not a sell setup. that is why it is going up. Why dont people listen.

More buyers than sellers is the reason it went up. Thanks all the shorts though you made us bulls money
  • #24,279
  • Aug 26, 2008 10:58pm Aug 26, 2008 10:58pm
Placed long few times for few pips with good lots at a time and all cashed , though now-a-days not doing any long , just test as I sit before computer early morning.
It seem still UP now
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #24,280
  • Aug 26, 2008 10:58pm Aug 26, 2008 10:58pm
Quoting lasty
Many factors.
1. Could be a large player trying to trigger stops
2. Could be a large buy order.
3. A Cross play being executed.
4. News (but on this occasion unlikely)
5. Thin market (lunchtime square up)
Also what I think happened this time (guessing though) is an order error in one market triggered reactions elsewhere. Since the SP futures had some weird gyrations in after hours electronic session too.
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