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  • #25,841
  • Aug 31, 2008 4:27pm Aug 31, 2008 4:27pm
Quoting psiholog
i too will be shorting this week if theres a break down, all this gustav talk is leading to assumptions that a push up is going to happen. most likely thats the case but do not abandon your strategies or you will get burned
We all will, but actually looks very bullish to me.
  • #25,842
  • Aug 31, 2008 4:29pm Aug 31, 2008 4:29pm
Quoting malcolmb14
There are massive bullish signals on 4 hour


head and shoulders and bullish div on 2 indicators
If the H&S goes well, it may reach 1.4905 before it consolidates.
Am i right there malcolm?
  • #25,843
  • Aug 31, 2008 4:32pm Aug 31, 2008 4:32pm
Quoting malcolmb14
there is also news item that gustav is downgraded to cat 3
I posted yesterday that the forecast was for it to drop down to Cat 3 which it did but it has good chance it will strengthen again before hitting land.
  • #25,844
  • Aug 31, 2008 4:32pm Aug 31, 2008 4:32pm
Quoting FXObserver
If the H&S goes well, it may reach 1.4905 before it consolidates.
Am i right there malcolm?

If being the operative word ..... lol

1.4730, 1.4785 , 1.4875 , 1.5 are upside targets
Blogging daily now at www.volume.zone
  • #25,845
  • Aug 31, 2008 4:37pm Aug 31, 2008 4:37pm
1st scalp closed +14 ....

now waiting for little retrace to 1.4695 for reload of long
Blogging daily now at www.volume.zone
  • #25,846
  • Aug 31, 2008 4:39pm Aug 31, 2008 4:39pm
Quoting malcolmb14
1st scalp closed +14 ....

now waiting for little retrace to 1.4695 for reload of long
what platform you use...mine doesnt open until 21min from now
Different opinions highly valued, ignorant to slander.
  • #25,847
  • Aug 31, 2008 4:41pm Aug 31, 2008 4:41pm
Think the gap from Friday will close before it goes higher.

If it was a lot greater than I would think no, not for a while. But it can drop the approx 20 pips in no time.
  • #25,848
  • Aug 31, 2008 4:42pm Aug 31, 2008 4:42pm
Quoting psiholog
what platform you use...mine doesnt open until 21min from now

fxcm with tradestaion /

spreads are +5 right now ... not the best
Blogging daily now at www.volume.zone
  • #25,849
  • Aug 31, 2008 4:43pm Aug 31, 2008 4:43pm
cannot wait till asia comes online ... should be a fun one today ....

gbpjpy -200 pip gap !!! looking for gap fill
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  • #25,850
  • Aug 31, 2008 4:48pm Aug 31, 2008 4:48pm
Quoting malcolmb14
gbpjpy -200 pip gap !!! looking for gap fill
Still high pressure on sales, that doesn't let the EUR rise.
  • #25,851
  • Aug 31, 2008 4:49pm Aug 31, 2008 4:49pm
Quoting malcolmb14
fxcm with tradestaion /

spreads are +5 right now ... not the best
thanks, i use ibfx, one hour later open sundays
Different opinions highly valued, ignorant to slander.
  • #25,852
  • Aug 31, 2008 4:56pm Aug 31, 2008 4:56pm
Quoting malcolmb14
and Acumen .... do not forget him ....(sorry Acumen have to get my digs in when I can)

25736 <-- Post

  • #25,853
  • Aug 31, 2008 4:56pm Aug 31, 2008 4:56pm
Quoting malcolmb14
1st scalp closed +14 ....

now waiting for little retrace to 1.4695 for reload of long
Dear malcolmb14,

how u know it will retrace to 1.4695...what method u use?

thank you in advance.
  • #25,854
  • Aug 31, 2008 4:57pm Aug 31, 2008 4:57pm
695 has been a great point of resistance/support recently, just as pivotal as 805
Different opinions highly valued, ignorant to slander.
  • #25,855
  • Aug 31, 2008 5:00pm Aug 31, 2008 5:00pm
Quoting redland
Dear malcolmb14,

how u know it will retrace to 1.4695...what method u use?

thank you in advance.
Gaps are filled to the tune of 80% or higher.

I'm guessing he knows the probability of this trade.
  • #25,856
  • Aug 31, 2008 5:04pm Aug 31, 2008 5:04pm
Quoting acumen
We know historically liquidity and activity increase significantly after the Labor Day Holiday and next week won't disappoint.

Next week we have some key data for the dollar.

ISM and Service Sector reports will give us a better read on the economy than GDP.

ISM has been holding around the 50 mark and I doubt it moves much next week... however... a contraction... or number below 50 might add to the reasons to sell dollars.

The housing market is bottoming but that does not mean we've hit the bottom.

Let's not forget NFP, Oil and Fred and Fannie.

I believe NFP disappoints.

I believe Oil moves north. (Hurricane season is just starting and I don't believe it's get better)

I believe we (US citizens) foot the bill for the inept management at Fred and Fannie. (This should move the EURO north quite significantly when bailout happens) I guess I should say if but I'm a pessimist.

Smell a retrace?

This does not change my long term bias but next week has the potential for some EURO strength.

How do you play it?

A day at time.

If you're a long term player you might want to take next week off.

Mike

PS - What about the zone? I'm more bearish on them than I am on the US - and that takes a large bear but the dollar needs a break and you get the feeling traders are tired of buying.
This one i agree esp after the Labor Day at least historically.
  • #25,857
  • Aug 31, 2008 5:14pm Aug 31, 2008 5:14pm
Quoting acumen
Gaps are filled to the tune of 80% or higher.

I'm guessing he knows the probability of this trade.
aha, but maybe not in this time!
just look at EUR/GBP - it's climbing higher like devil in hell
  • #25,858
  • Aug 31, 2008 5:16pm Aug 31, 2008 5:16pm
Quoting videoman555
aha, but maybe not in this time!
just look at EUR/GBP - it's climbing higher like devil in hell
take a look at gbp/usd as well....
Different opinions highly valued, ignorant to slander.
  • #25,859
  • Aug 31, 2008 5:18pm Aug 31, 2008 5:18pm
Pound is getting pounded.
The worse performing currency in the last few weeks.
  • #25,860
  • Aug 31, 2008 5:21pm Aug 31, 2008 5:21pm
i think its safe to say watching eur/usd best trade to make at this time is no trade at all...market is searching for direction
Different opinions highly valued, ignorant to slander.
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