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EURUSD

  • #34,621
  • Sep 26, 2008 12:39pm Sep 26, 2008 12:39pm
Quoting Jurrasic
When you need to scalp - scalp, don't talk.
Hey J... wondered where you'd got off to. Sound advice there btw, my sentiments exactly.
FUBAR...
  • #34,622
  • Sep 26, 2008 12:42pm Sep 26, 2008 12:42pm
I'm thinking of leaving a small (1 mini lot) position short open over the weekend, incase the bailout becomes official....
  • #34,623
  • Sep 26, 2008 12:47pm Sep 26, 2008 12:47pm
as the bands get tighter and tighter, i smell a breakout coming.
  • #34,624
  • Sep 26, 2008 12:49pm Sep 26, 2008 12:49pm
any opinions?

am thinking of leaving shorts of 5 days @1.48 open over the weekend..

same for my gbp/jpy @ 197.00
  • #34,625
  • Sep 26, 2008 12:50pm Sep 26, 2008 12:50pm
Quoting kasper
as the bands get tighter and tighter, i smell a breakout coming.

I know...I know...which way. which way lol
  • #34,626
  • Sep 26, 2008 12:51pm Sep 26, 2008 12:51pm
The attached M5 chart shows continuation of higher lows and the Bollinger band has developed a well defined pinch. A breakout to the upside will continue the higher highs and lows trend. Perhaps we could get a run up into the close.
Attached Image (click to enlarge)
Click to Enlarge Name: eurodollar m5 -c.gif Size: 49 KB
  • #34,627
  • Sep 26, 2008 12:56pm Sep 26, 2008 12:56pm
No breakout today with so little time left before weekend. Naturally I could be wrong, but 3 hours and counting. Why would it happen?

Although crude has been rising back from LOD.
  • #34,628
  • Sep 26, 2008 1:02pm Sep 26, 2008 1:02pm
Quoting seesaw
I'm thinking of leaving a small (1 mini lot) position short open over the weekend, incase the bailout becomes official....
bailout becomes official does what to the dollar?
bailout does not become official does what to the dollar?

ask yourself this before you do it and if you got the right answer go ahead
Different opinions highly valued, ignorant to slander.
  • #34,629
  • Sep 26, 2008 1:04pm Sep 26, 2008 1:04pm
Quoting psiholog
bailout becomes official does what to the dollar?
bailout does not become official does what to the dollar?

ask yourself this before you do it and if you got the right answer go ahead

Bailout becomes official = stronger dollar (or weaker Euro)
  • #34,630
  • Sep 26, 2008 1:06pm Sep 26, 2008 1:06pm
Quoting SunTrader
No breakout today with so little time left before weekend. Naturally I could be wrong, but 3 hours and counting. Why would it happen?
I agree, closes for the last 4 days have all been in a 40 pip range and so far today looks to be on track as well., Efforts to the upside all stalled, and no genuine attempt to go much lower.

Looks like a lot of indecision and watching the madness continue to unfold. Friday PM (especially this one!) is no time to be analyzing the market. There just isn't one, and settling the weeks books doesn't count imo. Makes you crazy and you usually wind up donating back your gains.

Here's to an interesting next week. Have a nice weekend Sun.
Attached Image
FUBAR...
  • #34,631
  • Sep 26, 2008 1:11pm Sep 26, 2008 1:11pm
Quoting seesaw
Bailout becomes official = stronger dollar (or weaker Euro)
in theory i agree but do you think that will be the initial reaction of the markets?...isnt it possible it gaps up and drops big time from there?...its so neutral right now it could go both ways and having an open position is nothing more then a gamble...thats just my honest opinion

in the end...you are the master of your account
Different opinions highly valued, ignorant to slander.
  • #34,632
  • Sep 26, 2008 1:12pm Sep 26, 2008 1:12pm
Quoting psiholog
in theory i agree but do you think that will be the initial reaction of the markets?...isnt it possible it gaps up and drops big time from there?...its so neutral right now it could go both ways and having an open position is nothing more then a gamble...thats just my honest opinion

in the end...you are the master of your account

You are correct, it definitely is a gamble. I'm a little chicken about weekends so I'll probably not go through with that bold move
  • #34,633
  • Sep 26, 2008 1:15pm Sep 26, 2008 1:15pm
Quoting seesaw
You are correct, it definitely is a gamble. I'm a little chicken about weekends so I'll probably not go through with that bold move
that is the smartest move a true intraday trader would make
Different opinions highly valued, ignorant to slander.
  • #34,634
  • Sep 26, 2008 1:18pm Sep 26, 2008 1:18pm
this is going to be interesting. according to my charts and the trendlines I drew ... the EUR/USD pair will hit the end of the wedge right around 5pm EST. talk about uncertainty going into the weekend if the pair doesnt move before then.
  • #34,635
  • Sep 26, 2008 1:20pm Sep 26, 2008 1:20pm
Quoting ak4x
Here's to an interesting next week. Have a nice weekend Sun.
You too Ak, but I won't be around (probably) for the next 2 weeks. I won't be near a pc especially with broadband.
  • #34,636
  • Sep 26, 2008 1:23pm Sep 26, 2008 1:23pm
Attached M5 chart shows price breakout from a well defined Bollinger band pinch, with the Fibonacci extention levels applied to the breadth of the pinch.

Holding entry until after the 62% extension level may reduce your entries on head fakes. And entry beyond the 62% level, based on ATR, still leaves room for a nicely profitable trade.

If this runs, there is no way of predicting how much, or how little, it will go in time remaining in the session. Let's see what happens.........
Attached Image (click to enlarge)
Click to Enlarge Name: eurodollar m5 -d.gif Size: 52 KB
  • #34,637
  • Sep 26, 2008 1:25pm Sep 26, 2008 1:25pm
Quoting seesaw
Bailout becomes official = stronger dollar (or weaker Euro)
How do you figure that?

More US debt = weaker dollar.

Stock market relief = Global stability = Stronger Euro

IMO
  • #34,638
  • Sep 26, 2008 1:27pm Sep 26, 2008 1:27pm
Quoting TIckerShuffl
How do you figure that?

More US debt = weaker dollar.

Stock market relief = Global stability = Stronger Euro

IMO

The EUR price action whenever the deal was "finalized" over the past two days should have given you some indication of how the markets will act.
  • #34,639
  • Sep 26, 2008 1:33pm Sep 26, 2008 1:33pm
Quoting SunTrader
You too Ak, but I won't be around (probably) for the next 2 weeks. I won't be near a pc especially with broadband.
cue the dualing banjos
  • #34,640
  • Edited 2:09pm Sep 26, 2008 1:37pm | Edited 2:09pm
Quoting TIckerShuffl
How do you figure that?

More US debt = weaker dollar.

Stock market relief = Global stability = Stronger Euro

IMO
my opinion is if it does pass....it could be the means to the beggining of the end of the recession we have been in over the last year...that is if the plan is strictly on target with what needs to be done....that in itself causes a bullish sentiment not only in the stock market but the economy and the overal sentiment which impacts the dollar as well


the common taxpayer who will be affected the most...they say 2200 per person is the price tag of this plan do not realize that it will do more good then harm if done properly or the magnitude of this economic/credit crisis...the worst in history

its not going to be the taxpayer that dictates market sentiment though...it is big money...and where is the money?...definetely not a 9-5 job worker...definetely not us

Edit:wow i just realized why this will definetely help the dollar...you said creates more us debts...thats not true...were not adding anything more to what we already owe....its just that instead of the government paying for the plan..the taxpayer is....this will come in the form of "small increases" on taxes lmao...which further inflates the dollar
Different opinions highly valued, ignorant to slander.
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