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EURUSD

  • #26,761
  • Sep 3, 2008 11:01am Sep 3, 2008 11:01am
beige book...heres the catalyst we waited for
Different opinions highly valued, ignorant to slander.
  • #26,762
  • Edited 11:10am Sep 3, 2008 11:03am | Edited 11:10am
The EUR is definitely looking for a retracement, looking at the 4H chart we have a Morningstar candle, a strong reversal pattern, a breakout of trendline and RSI broke out, a technical retracement could be target 1: 38.2 %Fib = 1.4530 and 2 68.2% = 1.4620. Hopefully it doesn’t get interrupted by news.
I’m looking for a good long entrance closed to S1.

BTW: on the Warren thing, acumen mentioned yesterday that this thread needs an enemy, so why looking for a new one if we have a bullet prooved one (Brucie). For me let him coming back but with less copy and paste, just links. Who wants to see them click and who not just ignore. He brought some pepper in this soup, isn't it?

Ah, another thing, if Bruce will be acepted by the moderator again, should be good not to mention anymore anything about the past to let that personal stuff out of the thread.
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  • #26,763
  • Sep 3, 2008 11:07am Sep 3, 2008 11:07am
I never asked why he is in his current situation, and other popular posters have been barred from posting and always for very good reason.

Fred, it is so hard not to offend sometimes when making a suggestion, that is not my intention.

My suggestion, Bruce is a dynamic fellow with a lot to offer to some, but some threads don't suit certain personalities well. With all that Bruce has to offer why would he want to be in this thread, seems he should start his own so those that want to follow his lead find it easier to keep track of his posts. Bruce seems to strongly use fundamentals to trade on short time frames, I’m sure I have that wrong, but that has been my impression. For some reason he also brings the fight out of people that if you follow their posts are rather passive. How he manages to do this I don’t understand myself, I know it is personality and not intentional.

Bring Bruce back and put him in his own thread (with a lot of storage space, lol) so we can follow him without the drama that is strangely created when he is in this thread.

Redefining Reality
  • #26,764
  • Sep 3, 2008 11:08am Sep 3, 2008 11:08am
beige book news was super bad....this should bring the bulls back right?
am i all alone still?
Different opinions highly valued, ignorant to slander.
  • #26,765
  • Sep 3, 2008 11:08am Sep 3, 2008 11:08am
DOWN DOWN EURO
thanks!
  • #26,766
  • Sep 3, 2008 11:12am Sep 3, 2008 11:12am
Quoting SpecialEd
I notice in both fibs though, that you used today's low. Didn't I understand you to say you don't typically use them until completed? Ed
You did, and I did. But that was specifically referring to the "daily low" which for me does not take place until 5pm EST (4pm CST for me here).

But you'll notice the price cycle for that 4hr TF has completed as it's been broken by subsequent highs or lows depending on the case. For example, I've backed the orange long term fib up to the previous 4hr swing low, and now the new low at 4383 still works, but as an extension. The same could be done with even shorter TF's but this is a longer TF.

Daily refers to completed daily levels only which is why I referred to that low previously as the "current session low" and "probable" daily low, but won't know till 5pm. Mostly I was trying to show you where the 4600 level could be coming from.

You don't want to get too nuts over these things, as the 2nd chart shows on the 3m chart from a very very slow day... (I did hit that target btw... )
Attached Images
FUBAR...
  • #26,767
  • Sep 3, 2008 11:14am Sep 3, 2008 11:14am
Quoting ak4x
You did, and I did. But that was specifically referring to the "daily low" which for me does not take place until 5pm EST (4pm CST for me here).

But you'll notice the price cycle for that 4hr TF has completed as it's been broken by subsequent highs or lows depending on the case. For example, I've backed the orange long term fib up to the previous 4hr swing low, and now the new low at 4383 still works, but as an extension. The same could be done with even shorter TF's but this is a longer TF.

Daily refers to completed daily levels only which is why I referred to that low previously as the "current session low" and "probable" daily low, but won't know till 5pm. Mostly I was trying to show you where the 4600 level could be coming from.

You don't want to get too nuts over these things, as the 2nd chart shows on the 3m chart from a very very slow day... (I did hit that target btw... )
Thanks again ak4x. That is a serious morningstar on H4, as someone recently pointed out. Wonder why it's not bursting up?
Up or down, gimme a ticket
  • #26,768
  • Sep 3, 2008 11:25am Sep 3, 2008 11:25am
Quoting SpecialEd
Thanks again ak4x. That is a serious morningstar on H4, as someone recently pointed out. Wonder why it's not bursting up?
i mentioned it and the reason its not shooting up yet is because the big players out there want to make things as confusing as possible. theres alot more ppl going short now then long...the market makers want to squeeze squeeze until theres nothing left then bam...up
Different opinions highly valued, ignorant to slander.
  • #26,769
  • Sep 3, 2008 11:25am Sep 3, 2008 11:25am
All you bull chartist need to go long to push it up.
It's moving slowly.
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  • #26,770
  • Sep 3, 2008 11:28am Sep 3, 2008 11:28am
Quoting SpecialEd
Hello TraderatHome,

I tried to send you a personal e-mail, but see you're not taking them. Hey, I read with great interest about your system today. It looks to be very effective. Thanks for sharing.

As you probably realize, this EUR/USD thread is pretty congested; very informative but congested. With respect, I think your system is significant enough that you should break out into a separate under the "Trading Systems" portion of Forex Factory. That way, your system description would be compactly posted and all comments specific to your system would appear in close proximity, without those of us trying to learn having to look through hours or even days to read your updates.

Just a beneficial suggestion. Again, thanks for the ideas and for sharing with others.

Ed

Thank you for your suggestion, Ed. I started the thread here because many posts seemed to indicate mass confusion as to SLs, entries, exits...etc, and also for to participate in the comraderie. And I did enter with something of substance, which I then demonstrated. But I do not wish to clutter or be a source of annoyance. So, I will likely follow your suggestion. If it better helps others by being under a new thread, and takes hold, then fine. If it falls on deaf ears elsewhere, well that is ok too....no skin off my nose.

In parting, on the M15 chart we are pinching. The breakout direction is not yet revealed, but longer timeframe charts still show bias to the downside. The 89 sma is just below. A break down thru it could yield a nice downside run. I have drawn preliminary fig. ext. (down) even though the pinch is not fully confirmed. It is something that may have to be redone, or abandoned until a later time if the pinch gets "postponed". I may follow-thru on this one before ceasing posts here under this thread.
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  • #26,771
  • Sep 3, 2008 11:29am Sep 3, 2008 11:29am
Quoting piptechnician
Bring Bruce back and put him in his own thread (with a lot of storage space, lol) so we can follow him without the drama that is strangely created when he is in this thread.
That is an excellent idea as well
I’m seeing this whole Warren theme a little from the human part as well. If he had a bad time in the past, who cares if didn’t got spammed or whatever from him. As this moment I didn’t find any evidence on what he was blaimed here and I’m not interested to see it as well. We are here to learn from each other no to judge anyone for his past.
I can setup a website and say that XXXX is an idiot, but as long as there isn’t an evidence it’s just my opinion.
He is a 65 years old man with good fundamental knowledge that may help some guys here.
I only hope that he will never come up with a paid FX training or managing funds in this thread, that should be a real reason to ban again. But I think that isn’t his attention.
  • #26,772
  • Sep 3, 2008 11:36am Sep 3, 2008 11:36am
How did the Beige Book come out like?
The Calendar on FF is not updating. Do you have another news source that updates it faster?
Thanks,
KT
  • #26,773
  • Sep 3, 2008 11:42am Sep 3, 2008 11:42am
Quoting kentashiburo
How did the Beige Book come out like?
The Calendar on FF is not updating. Do you have another news source that updates it faster?
Thanks,
KT
check bloomberg.com....i saw it as it came on bloomberg tv
Different opinions highly valued, ignorant to slander.
  • #26,774
  • Sep 3, 2008 11:42am Sep 3, 2008 11:42am
Quoting traderathome
Thank you for your suggestion, Ed. I started the thread here because many posts seemed to indicate mass confusion as to SLs, entries, exits...etc, and also for to participate in the comraderie. And I did enter with something of substance, which I then demonstrated. But I do not wish to clutter or be a source of annoyance. So, I will likely follow your suggestion. If it better helps others by being under a new thread, and takes hold, then fine. If it falls on deaf ears elsewhere, well that is ok too....no skin off my nose.
Traderathome, I'm not very good at stating what I mean (I'm a nerd). What I was trying to get across to you was that I think you have something very significant and beneficial to say. Easier to read, understand, practice and refine on a dedicated thread. Please don't let a newbie like me run you out of EUR/USD. I meant it only as constructive. Believe me, I'll go read whatever you post on that subject until I can understand and make my own decision on the method, so either post here or tell me where you go.

Sorry if I offended - surely did not mean to.
Up or down, gimme a ticket
  • #26,775
  • Sep 3, 2008 11:45am Sep 3, 2008 11:45am
Traderathome, please pm me. I just tried to reach you via pm or e-mail but not available.

Thanks,
Ed
Up or down, gimme a ticket
  • #26,776
  • Sep 3, 2008 11:52am Sep 3, 2008 11:52am
yes....neckline established as support and fibs didnt fail me

shorts beware
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  • #26,777
  • Sep 3, 2008 11:54am Sep 3, 2008 11:54am
hey guys,

new to actually posting something here but have been reading the stuff here for few months. some good some not so good. whats going on now. I have been going along with trend (down, south, USD strength) but now it is climbing, are we to assume that down trend may be at an end? although H4 and D1 showing trend still exists. I have read some of you guys thinking this may be indicative of a direction change. Are we forgetting election year, other economies just now getting into their recession stages? Don't believe this will go up but could be wrong. Why would I be wrong. Educate me concerning the EURO/USD
  • #26,778
  • Sep 3, 2008 11:55am Sep 3, 2008 11:55am
Quoting psiholog
yes....neckline established as support and fibs didnt fail me

shorts beware
Nothing to worry.
We shorts closed our end of the day position and that moved the market.
Nothing unusual.
We will go short again after the close for tomorrow.
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  • #26,779
  • Sep 3, 2008 11:57am Sep 3, 2008 11:57am
Quoting sdapastor
hey guys,

new to actually posting something here but have been reading the stuff here for few months. some good some not so good. whats going on now. I have been going along with trend (down, south, USD strength) but now it is climbing, are we to assume that down trend may be at an end? although H4 and D1 showing trend still exists. I have read some of you guys thinking this may be indicative of a direction change. Are we forgetting election year, other economies just now getting into their recession stages? Don't believe this will go up but could be wrong. Why would I be wrong. Educate me concerning the EURO/USD
longer term outlook is still bearish however a pair cant go in a direction forever, only the crazy aussies do it like that

Edit: 1.4500 has to establish itself as support before any real bull run can begin
Different opinions highly valued, ignorant to slander.
  • #26,780
  • Sep 3, 2008 12:01pm Sep 3, 2008 12:01pm
Quoting psiholog
longer term outlook is still bearish however a pair cant go in a direction forever, only the crazy aussies do it like that
Bro I agree with you that it can't go same direction forever but after seeing dollar rally all professional chartist and experts failed with their prediction.
Look at GBP is still falling after dropping 1600 pts. in August.
Euro is still over valued according to some currency expert.
My bias still bearish atleast for this week and until the NFP report.
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