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EURUSD

  • #27,561
  • Sep 5, 2008 8:12am Sep 5, 2008 8:12am
Quoting piptechnician
I'm not sure how to calculate stops for my new 801 trading system?
???

i dont think its funny
  • #27,562
  • Sep 5, 2008 8:13am Sep 5, 2008 8:13am
wow the market is crazy!!

Make 50green pips and the end scalping the wrong side at the end loss 80 pips

regards
  • #27,563
  • Sep 5, 2008 8:13am Sep 5, 2008 8:13am
i am going to keep my position open. i went long at 1.4250....my take profit is 1.4400 and stop loss where i entered...i am going to sleep at this wonderful hour of 6:13 am....i may wake up after market is closed.....either way i win....good night all....good day to you all in different time zones
Different opinions highly valued, ignorant to slander.
  • #27,564
  • Sep 5, 2008 8:13am Sep 5, 2008 8:13am
thats quite a strategy
simple....
  • #27,565
  • Sep 5, 2008 8:14am Sep 5, 2008 8:14am
Quoting oolides
this market is rigged.all my stops have been taken out with these fluctuations.i hate trading the news.it kills me.anyone has an idea why this is not shooting up as expected
So why do you do it?

Trading the news is and always will be gambling.
  • #27,566
  • Sep 5, 2008 8:14am Sep 5, 2008 8:14am
Quoting trading801
???
Trading801,

If this keeps going up my new system is going to get thrown out.

Where did you get in and where do you plan to get out?
Redefining Reality
  • #27,567
  • Sep 5, 2008 8:16am Sep 5, 2008 8:16am
Wow, shorting this will be like Christmass ! Go baby go !

And lay off trading801, com'on that's not nice.
On the path to Enrichment.
  • #27,568
  • Sep 5, 2008 8:16am Sep 5, 2008 8:16am
Quoting piptechnician
Trading801,

If this keeps going up my new system is going to get thrown out.

Where did you get in and where do you plan to get out?
i am sorry.. i dont understand.. are you being sarcastic or something? i'm sorry if i upset you.
  • #27,569
  • Sep 5, 2008 8:18am Sep 5, 2008 8:18am
Quoting trading801
i am sorry.. i dont understand.. are you being sarcastic or something? i'm sorry if i upset you.

You know I enjoy your posts, we have all been there.

Seriously, have you calculated where and why you are going to take profit? Just seeing if you are thinking about your trades.
Redefining Reality
  • #27,570
  • Sep 5, 2008 8:19am Sep 5, 2008 8:19am
Quoting trading801
???

i dont think its funny
This is a very tough business.

Mike
  • #27,571
  • Sep 5, 2008 8:19am Sep 5, 2008 8:19am
Personally I think we've seen the lows so far. Will go up to 1.46 in the next weeks.

Fundamentally there is no reason for such a strong dollar (which is, btw, bad for the us economy again, for their debts, etc...). The eurozone is weak but not that way as the US...

About 2000 pips down without a real retracement isn't reasonable. It all started with a market intervention and just did "overshoot".

Regards - Xaron
  • #27,572
  • Sep 5, 2008 8:19am Sep 5, 2008 8:19am
Quoting Jurrasic
Wow, shorting this will be like Christmass ! Go baby go !

And lay off trading801, com'on that's not nice.
Dow will get crushed today.
USD Est Non Mortuus
  • #27,573
  • Sep 5, 2008 8:21am Sep 5, 2008 8:21am
Quoting Xaron
Personally I think we've seen the lows so far. Will go up to 1.46 in the next weeks.

Fundamentally there is no reason for such a strong dollar (which is, btw, bad for the us economy again, for their debts, etc...). The eurozone is weak but not that way as the US...

About 2000 pips down without a real retracement isn't reasonable. It all started with a market intervention and just did "overshoot".

Regards - Xaron

This brings up an interesting thought, if "they" intervened once why wouldn't they do it again?
Redefining Reality
  • #27,574
  • Sep 5, 2008 8:24am Sep 5, 2008 8:24am
Quoting piptechnician
This brings up an interesting thought, if "they" intervened once why wouldn't they do it again?
They don't have to. And they don't want to have a stronger dollar, that kills just the growth (exports) and makes the debts more worse. I even think they did not want to bring it such a far way down...

Almost evey big player is now on the short train. But I might be wrong of course.

I think we won't see any rate hikes by the FED but another rate CUT!

The most probable thing for me will be a new trading range between 1.42/43-1.47/48... We'll see...
  • #27,575
  • Sep 5, 2008 8:29am Sep 5, 2008 8:29am
Quoting Xaron
The most probable thing for me will be a new trading range between 1.42/43-1.47/48... We'll see...
With such insane momentum and clear break of 1.43 it should in all probability hit the support line for the whole uptrend around 1.39. After that I agree it's likely to return to this range.

And you're probably right about the big players. Otherwise 1.43 would be a reversal point.
On the path to Enrichment.
  • #27,576
  • Sep 5, 2008 8:30am Sep 5, 2008 8:30am
Interesting read (Barron's article from Stephanie Pomboy):

Aug. 27: Within moments of the [Federal Open Market Committee] release, headlines were blaring the revelation contained within the minutes of the last FOMC meeting -- of the committee's broad agreement that the next move in rates would be higher. Demonstrating indefatigable optimism, markets checked their initial disappointment that further liquidity would not be forthcoming against the Fed's implicit endorsement of the view that the economy is (or soon will be) [in] ship-shape....

The likelihood that the next move on the fed-funds rate is higher in no way indicates that the Fed is done easing... not even close! All the committee has [done is] acknowledge the inadequacy of its conventional monetary-policy tools. Meanwhile, it continues to extend and expand its new security-lending facilities. As it does, the amount of "quality" paper on its books is dwindling fast and the likelihood that Congress will soon grant it the authority to pay interest on reserves [is] growing increasingly high. [Then] the Fed would be able to expand its balance sheet and its debaucherous endeavors to its heart's content.

So those greeting the revelation in [the recently-released] minutes as indicative of a hawkish Fed are making the grave error of emphasizing words over action. Far from providing support for the buck, the Fed's comments suggest they're packing away their conventional tools and that the real debasement is about to begin!

-- Stephanie Pomboy
  • #27,577
  • Sep 5, 2008 8:33am Sep 5, 2008 8:33am
Quoting Xaron
They don't have to. And they don't want to have a stronger dollar, that kills just the growth (exports) and makes the debts more worse. I even think they did not want to bring it such a far way down...

Almost evey big player is now on the short train. But I might be wrong of course.

I think we won't see any rate hikes by the FED but another rate CUT!

The most probable thing for me will be a new trading range between 1.42/43-1.47/48... We'll see...

I can't argue with your fundamental points I agree with you there. Really I can't argue with your conclusions as far as the numbers because I do not see nor understand any formulative ways of putting fundamental factors into numbers.

The rate cut thing? These fellows aren't into surprises, we will know with plenty of warning if they start thinking that way.
Redefining Reality
  • #27,578
  • Sep 5, 2008 8:36am Sep 5, 2008 8:36am
Sparked to the 1,4348 and down after unsustainable gain. That is the top for today I think. Any strength or another unsustainable test of 30s will be nice shorting opportunity
  • #27,579
  • Sep 5, 2008 8:52am Sep 5, 2008 8:52am
On the hourly charts, against the high on Aug 28, seeing EURUSD testing the first fibo resistance at 1.4343. Breakout aiming for 1.4433 / 1.4506.

Any thoughts?
  • #27,580
  • Sep 5, 2008 8:58am Sep 5, 2008 8:58am
Quoting CafeTrader
On the hourly charts, against the high on Aug 28, seeing EURUSD testing the first fibo resistance at 1.4343. Breakout aiming for 1.4433 / 1.4506.

Any thoughts?
More inclined to the stalling in the 1.4348, not much upward pressure here, I'm waiting for a breakdown, but if it breaks the upper area with force, I'm game for that as well.
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