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  • #26,501
  • Sep 3, 2008 1:13am Sep 3, 2008 1:13am
Quoting trading801
All good times must come to an end.

Mr Margin called on me.

He was heartless.

He took everything away.
i am so sorry about that.hope your account is not closed.i am still long and hedged and i am really scared.hope you bounce back soon.cheerio
  • #26,502
  • Sep 3, 2008 1:14am Sep 3, 2008 1:14am
Quoting traderathome
It formed a Double Top on the Weekly. And it ran down the predictable amount. Now, however, the ranging may end up constructing the right shoulder of what may later appear as an obvious large Head & Shoulders formation. If his happens and we get a further break down at the neckline, this will drop a lot more.

This is all long term thinking, of course. Meanwhile, the trend is down, interrupted by ranging periods. No, I would not be surprised to see pullbacks, either. The more this whipsaws up and down, the more the central banks and hedge funds get to make, without it really going anywhere far enough to upset either country!
H&S is also a big possibility and if that occur, we're heading down big time on the 1.43xx area
  • #26,503
  • Sep 3, 2008 1:15am Sep 3, 2008 1:15am
Quoting trading801
All good times must come to an end.

Mr Margin called on me.

He was heartless.

He took everything away.
Don't fret about it. I know you won't see much sense in this now but "It's only money".

Just take a break and put your nose back on the grindstone. You'll do well, all you need to do is give yourself a chance
Not all sins are created equal
  • #26,504
  • Sep 3, 2008 1:20am Sep 3, 2008 1:20am
Quoting trading801
All good times must come to an end.

Mr Margin called on me.

He was heartless.

He took everything away.
See it with other eyes, no are coming the good times, you will open a demo account and study untill you will have profit all the month long. Than is time to have a new try on live, and will never here from Mr. Margen again.
I really would like to see you here in one year as a Forex trader and you can do it, be shure.
  • #26,505
  • Sep 3, 2008 1:20am Sep 3, 2008 1:20am
Quoting psiholog
in my opinion if 65 gets broken...this is the reversal we have all been waiting for...well the 80% who get it wrong
I really see no reason why this would happen. This is a bear market.
  • #26,506
  • Sep 3, 2008 1:22am Sep 3, 2008 1:22am
this is starting to look like one of the most beautiful reversals ive ever seen on the hourly charts. one last hurdle to go..that dreaded 61.8 mark and its bulls bulls bulls

until then...anything goes still (break below 1.4425 means it will go lower)
i am long at the moment
Different opinions highly valued, ignorant to slander.
  • #26,507
  • Sep 3, 2008 1:23am Sep 3, 2008 1:23am
Quoting mikkom
I really see no reason why this would happen. This is a bear market.
to each his own right


Edit:correction...1.4429 or lower means it will go lower now
Different opinions highly valued, ignorant to slander.
  • #26,508
  • Sep 3, 2008 1:25am Sep 3, 2008 1:25am
Quoting mikkom
I really see no reason why this would happen. This is a bear market.
for now.... I think that the next TP is 1.4360.... fibo 38.... from there a bounce is possible... in this moment we just have a flag on a downside trend on short term.... so.... in my opinion.... we go south... for now
  • #26,509
  • Sep 3, 2008 1:35am Sep 3, 2008 1:35am
just got a mouteki signal on the 4hr for a 1500 pip drop to 1.2857 if we close below 1.4433....

lets see how that works out
  • #26,510
  • Sep 3, 2008 1:36am Sep 3, 2008 1:36am
I'd love to think that this is a reversal but what if all of the sudden "bam" it comes right back snatching your pips just like yesterday. But if u look at it differently this might be a chance to get a good price by selling from the top.
  • #26,511
  • Sep 3, 2008 1:38am Sep 3, 2008 1:38am
Quoting Sole
for now.... I think that the next TP is 1.4360.... fibo 38.... from there a bounce is possible... in this moment we just have a flag on a downside trend on short term.... so.... in my opinion.... we go south... for now
IF the turn comes for me the strongest points are (long time past supports)

1.4411
1.4366 (not been there yet)
1.4313 (not been there yet)

Fundamentals lead now. This will only turn if there are bad news from the US (which will eventually come, IMHO this is a correction period in a very big crash - look 1929 charts to see how really big crashes work http://mutualfunds.about.com/cs/hist...l1929graph.htm )

But before the next wave of news about bank collapses come this is a bear market
  • #26,512
  • Sep 3, 2008 1:39am Sep 3, 2008 1:39am
Quoting akirax
just got a mouteki signal on the 4hr for a 1500 pip drop to 1.2857 if we close below 1.4433....

lets see how that works out
Wow, de javu of 8/8. I can't see it go down that far but if it does, you're going to be my mentor
  • #26,513
  • Sep 3, 2008 1:39am Sep 3, 2008 1:39am
Quoting akirax
just got a mouteki signal on the 4hr for a 1500 pip drop to 1.2857 if we close below 1.4433....

lets see how that works out
LOL
Quoting mikkom
Fundamentals lead now. This will only turn if there are bad news from the US (which will eventually come, IMHO this is a correction period in a very big crash - look 1929 charts to see how really big crashes work http://mutualfunds.about.com/cs/hist...l1929graph.htm )
Except that that was the stock market, and this is EU. Stock markets can crash like that, currency pairs - maybe just if there's a nuclear holocaust or something on one side..
On the path to Enrichment.
  • #26,514
  • Sep 3, 2008 1:39am Sep 3, 2008 1:39am
Quoting HarshFX
I'd love to think that this is a reversal but what if all of the sudden "bam" it comes right back snatching your pips just like yesterday. But if u look at it differently this might be a good chance to get a good price by selling from the top.
how this hourly candlestick closes determines all...be patient if you want more confirmation

Edit: if i listened to my own advice id be rich by now...hmmm

Double Edit: i should have taken profit at 464, this is truly the most dangerous time at 61.8 fib...hmmm
Different opinions highly valued, ignorant to slander.
  • #26,515
  • Sep 3, 2008 1:44am Sep 3, 2008 1:44am
i can only trade 10 cent per pip now..

and left with $5 USD. shorted at 1.4452.


i cannot give up.

my boat is full of up and downs.. i should start a blog on my FX encounter man ... sigh.. but its heart pain for the $ loss..

as of now, -$780 USD
  • #26,516
  • Sep 3, 2008 1:46am Sep 3, 2008 1:46am
Quoting akirax
just got a mouteki signal on the 4hr for a 1500 pip drop to 1.2857 if we close below 1.4433....

lets see how that works out

14 day ATR is 143 and that of today is 120, with a low of 1.4411. So, this could bo below 1.4400 today. More importantly, this could be below 1.4300 tomorrow....say around 1.4270. This would be the 400% fibonacci extension level on the 4 Hour chart squeeze breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 240 minute breakout.gif Size: 39 KB
  • #26,517
  • Sep 3, 2008 1:47am Sep 3, 2008 1:47am
Quoting trading801
i can only trade 10 cent per pip now..

and left with $5 USD. shorted at 1.4452.


i cannot give up.

my boat is full of up and downs.. i should start a blog on my FX encounter man ... sigh.. but its heart pain for the $ loss..

as of now, -$780 USD
in the past year i have lost over $3000. no regrets, i consider it my tuition for my education. on another note....why short now?
Different opinions highly valued, ignorant to slander.
  • #26,518
  • Sep 3, 2008 1:49am Sep 3, 2008 1:49am
Quoting Jurrasic
LOL

Except that that was the stock market, and this is EU. Stock markets can crash like that, currency pairs - maybe just if there's a nuclear holocaust or something on one side..
I was refering to stock markets. I always forget that this forum is just for forex, I'm trading stock indices too (I'm short on all continents now)

What I meant was US bank stocks will collapse and lead other stocks dow too, there will be depression. My hypothesis is that euro zone will survive this much better than US in medium term (2-10 years).
  • #26,519
  • Sep 3, 2008 1:50am Sep 3, 2008 1:50am
I think it's time to go long @ EUR.with TP 1.4550
  • #26,520
  • Sep 3, 2008 1:51am Sep 3, 2008 1:51am
I know a lot of you are saying it will go up for a reversal soon but let me ask you guys a question.

Why would you enter a long position now given that we got big news at Final Services PMI, Revised GDP q/q,Challenger Job Cuts y/y??

Well at the very least the first two would be pretty important to wait and see what happens right?
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