EUR/USD Longer Term Trading

Hi Guys, I started this thread because I believe the wrong message is getting out in another thread. I understand that everyone has their own views and I respect that. But someone is going to get hurt. So I have created an alternative for more expierienced traders that we can control what is said and who stays and goes. And the young traders can learn from them. Just try to deal with traditional direction off the Daily and the 4 hr. Anyone is welcome, especially expierienced traders.

Guys, this is not my system and I will be glad to give you the website where you can talk to the owner and possibly join up. He is a very good person and can each you a lot.

Trade at your own risk

Jim

Look forward to learning here Jim.

good luck!

I would like to learn longer term trading because this scalping and short term moves is too stressfull and I fear for my account if I've gone against the trend. Look forward to reading and learning.

always read n learn from ur posts... looking forward to learn more...

no more scalping...can't handle my emotion...

for me this pair is already doomed (i see from weekly chart)...think now just a retrace (but still not enough yet)...but who knows???...that just my opinion...CMIIW

Bought the E/J last night after a Daily inside bar formed on the chart. I made 85 pips before it hit the 4 Hr 89 Smooth MA. I drew a trend line on the 15 Min and rebought after the retrace and hit the trendline. But my design was off the 4 Hr and the Daily. now I am just waiting for the 156.83 level to be taken out.

Guys and Gals,

I trade this pair aong with the E/U because sometimes like now, it will move while E/U is consolidating.

Notice how E/U is tied up around the 15 Min 89..... I stay out of crap like this.

If you are wondering whos system I am using, I will point you toward his direction if you email me, but I will not Spam.

I can not be here much during the day, so if there is someone with at least 2 years on a live account and wants to moderate with me please let me know.

Jim

If this breaks the 4 Hr 89, we will see a substantial move up.

Hi Jim,

One of the pairs I trade. Like all of them, only from the 4H TF.
At present I see price consolidating after the steep move up. Looks like a wait is in order until it decides whether to go higher or if this is just a correction of the bigger move down. Probably needs big news to shift market sentiment. Still long but with raised stop. Sitting on my hands.

Thanx for the t thread...

Keep those regular update coming..

Sonic

Bro I am around all day fulltime trader. I will help you if you want with longer term trading ideas. I must say though I have a hard time reading your charts mine are a bit more simple.

Im willing to help though. If naysayers of mine can keep it down

Looks like some room to the upside here. Don't like the way the pair is acting though. If we break that 4 Hr DTL.

Hey all, personally I wouldn't trade anything until they decide about Bush's 700 Billion miracle is decided.

when it will be decided?

Maybe someone else can help us out with that.

Speaking to the American public Wednesday night, President Bush indicated he's willing to work with members of Congress on a bailout plan, but he also put them in a tough spot.
In a televised address, Bush called on Congress to pass the administration's rescue plan for Wall Street, which would leave taxpayers on the hook for up to $700 billion--just before Election Day.
"I know that an economic rescue package will present a tough vote for many members of Congress," Bush said. But he noted "our entire economy is in danger" and added that a bailout "will help send a signal to markets around the world that America's financial system is back on track."
Bush himself has been under pressure to acknowledge the severity of the problem and to send that very same signal to markets--while showing that he still cares about taxpayers.
In a way, he's the best pitchman the administration's got. The credit crunch is an extraordinarily complicated issue, and Bush's most popular trait is his homespun way of connecting with people. His two point men on the bailout, Treasury Secretary Henry Paulson, a former Wall Streeter, and Federal Reserve Chairman Ben Bernanke, a former academic, have had a tough time convincing Congress why a $700 billion plan is the only way out of the current crisis.
Bush said Americans deserve "clear answers" as to how the country reached this point.
The president told the public that the "rescue effort is not aimed at preserving any individual company or industry." He said the government is the only entity that is capable of buying financial firms' troubled assets at their current low prices and holding them until their value returns to normal. He argued that if a bailout is not approved, foreclosures would rise, millions of people could lose their jobs and reminded them that "ultimately our country could experience a long and painful recession."
Lawmakers may have found some comfort in the fact that the president pledged that a bailout would include an oversight provision and that it should preclude executives from receiving a windfall--a sticking point among many members of Congress.
But undoubtedly, lawmakers--who are nearly united in saying that quick action is necessary--are now trying to figure out how they can approve a plan that saddles taxpayers with cleaning up a financial mess that has been years in the making.
Members of Congress seem willing to work with the administration to come up with some type of rescue plan in the next few days. Just before Bush's remarks, Sen. John McCain, R-Ariz., and Sen. Barack Obama, D-Ill., issued a rare joint statement, pledging to put aside their political differences and focus on the economy--but they're not endorsing the president's plan.
"Now is our chance to come together to prove that Washington is once again capable of leading this country," the candidates said, calling the Bush proposal "flawed." Both men, along with other lawmakers, will meet with the president at the White House on Thursday to work out the details of a bailout.
In taking the public stage, Bush was an unpopular president pushing an unpopular plan. His approval rating is just 31.5%, according to RealClearPolitics. Several members of Congress say that constituents who've called them this week overwhelmingly oppose the administration's plan. (Congress' approval rating is even worse, finds RCP: just 21.3%.)
As negotiations have evolved on Capitol Hill during the last several days, it has become evident that the final bailout bill will include an oversight provision for the Treasury secretary. It will probably contain some type of equity stake for the government in the companies that sell their bad debt to Uncle Sam. It's also increasingly likely that it will limit excessive executive compensation for firms that ask for a bailout.

Markets have been stalled, looking for direction from Capitol Hill. The Dow Jones industrial average closed down 29 points Wednesday. Moves by the private sector have yet to ignite confidence. Warren Buffett taking a $5 billion stake in Goldman Sachs Tuesday did little to get markets moving.


Buffett thinks a deal will get done. "If I didn't think the government was going to act, I would not be doing anything this week," he told CNBC Wednesday.
Yet lawmakers on both sides of the aisle have not been in a rush to act. Sen. Richard Shelby, R-Ala., the top GOP member on the Senate Banking Committee, has expressed doubt that the plan will work, and Democrats are backing away from it because they don't want to be on record--particularly this close to Election Day--as putting taxpayers on the hook to bail out what is being described as the excesses of Wall Street.
The entire drama of the past several days has many Democrats, normally in favor of government intervention, voicing skepticism of the need for a government rescue; it's also made a Republican administration claim government action is necessary.
"My natural instinct is to oppose government intervention," Bush said. But, "these are not normal circumstances. The market is not functioning properly."

I have unconfirmed reports that it will be done by Friday.

There is a small channel you can trade on EJ right now, but don't know how long it'll last.