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  • #26,881
  • Sep 3, 2008 8:47pm Sep 3, 2008 8:47pm
hey trading801 u got the link? and did u download any book?
  • #26,882
  • Sep 3, 2008 8:49pm Sep 3, 2008 8:49pm
http://www.financialsense.com/Market/wrapup.htm
  • #26,883
  • Sep 3, 2008 9:53pm Sep 3, 2008 9:53pm
this last push down was merely just 61.8 retracement from the last real move up, it does not determine direction yet, higher then 1.4530 is bullish confirmation and lower than 1.4465 is bearish
just my 2 cents

on another note...we are at 61.8% from the last downwards move...interesting scenario here
Different opinions highly valued, ignorant to slander.
  • #26,884
  • Sep 3, 2008 10:00pm Sep 3, 2008 10:00pm
Quoting nakamura
http://www.financialsense.com/Market/wrapup.htm
And with Mcain and Palin in the white house, it will bring a even stronger dollar....Go USA
  • #26,885
  • Sep 3, 2008 10:01pm Sep 3, 2008 10:01pm
Quoting alsup1955
And with Mcain and Palin in the white house, it will bring a even stronger dollar....Go USA
let me guess...your republican

Edit:dont mean to be political but heres how it would apply to eur/usd.
they have every intent to drill for oil in alaska in places which are currently protected...
Different opinions highly valued, ignorant to slander.
  • #26,886
  • Sep 3, 2008 10:07pm Sep 3, 2008 10:07pm
My 15 chart squeeze breakout trade (long) is about where it was hours ago. Price is oscillating about the 89 sma. Up & down breakouts are not making it past initial fib. ext. levels.

H4 chart is biased to upside. Down on M5 chart, also biased to upside....right at 89 sma with seemingly no strength to move much away from it.

In a sense, this lazy oscillation is just what I am looking for...low volatility preceding inevitable breakout. It has gone on long enough now, that only larger timeframe charts show any trend, or change thereof. That is why I look now to the H4 for indications. It is a mixed bag. Trend is clearly down and candles are below 89 sma. Yet it looks like a double pinch may be in the works, and the candles are biased to the upside within this pinching.

So, I will remain long for now, and continue to look on the lower timeframe charts for yet another squeeze breakout....thinking for now that it will be upside.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd m5 squeeze .gif Size: 38 KB
Click to Enlarge Name: eurusd h4 squeeze .gif Size: 36 KB
  • #26,887
  • Sep 3, 2008 10:08pm Sep 3, 2008 10:08pm
Quoting psiholog
let me guess...your republican

Edit:dont mean to be political but heres how it would apply to eur/usd.
they have every intent to drill for oil in alaska in places which are currently protected...
Not Republican. An independent wanting indepdence in our energy needs. We have the technology. It will happen
  • #26,888
  • Sep 3, 2008 10:11pm Sep 3, 2008 10:11pm
Quoting psiholog
this last push down was merely just 61.8 retracement from the last real move up, it does not determine direction yet, higher then 1.4530 is bullish confirmation and lower than 1.4465 is bearish
just my 2 cents

on another note...we are at 61.8% from the last downwards move...interesting scenario here
If BOE will drop interest rate with another .5%, the GBP will be sold and USD bought, driving the USD higher, driving the EUR/USD into bear trend again.

Does it make sense?

KT
  • #26,889
  • Sep 3, 2008 10:17pm Sep 3, 2008 10:17pm
Quoting psiholog
this last push down was merely just 61.8 retracement from the last real move up, it does not determine direction yet, higher then 1.4530 is bullish confirmation and lower than 1.4465 is bearish
just my 2 cents

on another note...we are at 61.8% from the last downwards move...interesting scenario here
fully agree with these levels will short hard below 70
Price is siting at 61.8% of previous wave - wave 1 i believe

short here with 10 pips SL seems reasonable for lateones
  • #26,890
  • Sep 3, 2008 10:24pm Sep 3, 2008 10:24pm
Quoting kentashiburo
If BOE will drop interest rate with another .5%, the GBP will be sold and USD bought, driving the USD higher, driving the EUR/USD into bear trend again.

Does it make sense?

KT

The ECB also has a rate announcement today. Trichet will give his normal dialogue post announcement with a Q & A session. eur/usd moves today will have very little to do with BOE decision. eur/gbp is the best buy on dips. I'm long since it broke out at 8100.
"Timing Is Everything. Really I Swear It Is"
  • #26,891
  • Sep 3, 2008 10:25pm Sep 3, 2008 10:25pm
Quoting traderathome
My 15 chart squeeze breakout trade (long) is about where it was hours ago. Price is oscillating about the 89 sma. Up & down breakouts are not making it past initial fib. ext. levels.

H4 chart is biased to upside. Down on M5 chart, also biased to upside....right at 89 sma with seemingly no strength to move much away from it.

In a sense, this lazy oscillation is just what I am looking for...low volatility preceding inevitable breakout. It has gone on long enough now, that only larger timeframe charts show any trend, or change thereof. That is why I look now to the H4 for indications. It is a mixed bag. Trend is clearly down and candles are below 89 sma. Yet it looks like a double pinch may be in the works, and the candles are biased to the upside within this pinching.

So, I will remain long for now, and continue to look on the lower timeframe charts for yet another squeeze breakout....thinking for now that it will be upside.
That's about when it all started last night - downward. Thanks for your insight
Up or down, gimme a ticket
  • #26,892
  • Sep 3, 2008 10:28pm Sep 3, 2008 10:28pm
Quoting alsup1955
And with Mcain and Palin in the white house, it will bring a even stronger dollar....Go USA
Sure... she did not write it but she sure delivered it.
  • #26,893
  • Sep 3, 2008 10:31pm Sep 3, 2008 10:31pm
Quoting acumen
Sure... she did not write but she sure delivered it.
Yep, you're right. She delivered. I admit to surprise. Gonna get me a bumper sticker tomorrow.
Up or down, gimme a ticket
  • #26,894
  • Edited 10:35pm Sep 3, 2008 10:32pm | Edited 10:35pm
Quoting TexasforEX
The ECB also has a rate announcement today. Trichet will give his normal dialogue post announcement with a Q & A session. eur/usd moves today will have very little to do with BOE decision. eur/gbp is the best buy on dips. I'm long since it broke out at 8100.
I noticed that big players love to buy the currency that has unchanged or higher interest rate vs the currency that has a lower interest%.

It should be a early sign for the ECB Press Conference
  • #26,895
  • Sep 3, 2008 10:35pm Sep 3, 2008 10:35pm
Quoting TexasforEX
The ECB also has a rate announcement today. Trichet will give his normal dialogue post announcement with a Q & A session. eur/usd moves today will have very little to do with BOE decision. eur/gbp is the best buy on dips. I'm long since it broke out at 8100.
This thread is the EURUSD thread.

Secondly - Trichet's comments will be watched very closely. More dovish comments will send this pair south.
  • #26,896
  • Sep 3, 2008 10:35pm Sep 3, 2008 10:35pm
Quoting acumen
Sure... she did not write but she sure delivered it.
What you expect from an Eskimo that does not understand what it is really about? It has already been decided who will win and what will happen. Try reading the publications about the Secret Societies, you would be surprised.

At least one man was putting fundamental stuff with value here, but everybody seems to have more "fun" with a guy that does not understand what demo accounts are for and ends up getting MCs one after another.

Oh well, let's make some pips.
  • #26,897
  • Sep 3, 2008 10:38pm Sep 3, 2008 10:38pm
Quoting acumen
This thread is the EURUSD thread.

Secondly - Trichet's comments will be watched very closely. More dovish comments will send this pair south.
Sorry acumen, don't take it on texas. I was just trying to put some sense into relations between majors.

My bad,
KT
  • #26,898
  • Sep 3, 2008 10:41pm Sep 3, 2008 10:41pm
Quoting traderathome
My 15 chart squeeze breakout trade (long) is about where it was hours ago. Price is oscillating about the 89 sma. Up & down breakouts are not making it past initial fib. ext. levels.

H4 chart is biased to upside. Down on M5 chart, also biased to upside....right at 89 sma with seemingly no strength to move much away from it.

In a sense, this lazy oscillation is just what I am looking for...low volatility preceding inevitable breakout. It has gone on long enough now, that only larger timeframe charts show any trend, or change thereof. That is why I look now to the H4 for indications. It is a mixed bag. Trend is clearly down and candles are below 89 sma. Yet it looks like a double pinch may be in the works, and the candles are biased to the upside within this pinching.

So, I will remain long for now, and continue to look on the lower timeframe charts for yet another squeeze breakout....thinking for now that it will be upside.
Good afternoon ladies and gents.

Well it is afternoon in my part of the world.

I notice a mixed bag of suggestions here about direction and over different time frames you will all be right. Having said that, I can't buy into idea that oil will drop before the weekend. We have IKE with gaining strength heading in and if the oil price is due to go lower, I feel the market will leave that decision till after the weekend. For this reason I don't see the dollar strengthening. At least not before the weekend.

Does that made sense?
  • #26,899
  • Sep 3, 2008 10:45pm Sep 3, 2008 10:45pm
Quoting traderathome
My 15 chart squeeze breakout trade (long) is about where it was hours ago. Price is oscillating about the 89 sma. Up & down breakouts are not making it past initial fib. ext. levels.

H4 chart is biased to upside. Down on M5 chart, also biased to upside....right at 89 sma with seemingly no strength to move much away from it.

In a sense, this lazy oscillation is just what I am looking for...low volatility preceding inevitable breakout. It has gone on long enough now, that only larger timeframe charts show any trend, or change thereof. That is why I look now to the H4 for indications. It is a mixed bag. Trend is clearly down and candles are below 89 sma. Yet it looks like a double pinch may be in the works, and the candles are biased to the upside within this pinching.

So, I will remain long for now, and continue to look on the lower timeframe charts for yet another squeeze breakout....thinking for now that it will be upside.
I've attached a 4H chart.

Please explain how it's biased to the upside?

I'm going to have to call bullsh#t here.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hEURO.GIF Size: 15 KB
  • #26,900
  • Sep 3, 2008 10:47pm Sep 3, 2008 10:47pm
Quoting kentashiburo
Sorry acumen, don't take it on texas. I was just trying to put some sense into relations between majors.

My bad,
KT
I was not paying attention.

I missed the pair correlation aspect.

Mouth shut.

My fault.
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