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  • #35,341
  • Sep 30, 2008 6:40am Sep 30, 2008 6:40am
Quoting PipGal
These are great shorting prices before Thursday. If you look at 4H chart, trend still very much down.
but if you look on monthly...

hehe
Gravity always wins
  • #35,342
  • Sep 30, 2008 6:48am Sep 30, 2008 6:48am
Quoting sol
but if you look on monthly...

hehe
I don't quite see how monthly is bullish-- at least, not yet. There will be point at which it will be, but not until it's made lower lows on the daily chart. The problem we are facing is that ECB will drop rates soon, but so will the Fed it seems. Which is the lesser of two evils....
  • #35,343
  • Sep 30, 2008 7:04am Sep 30, 2008 7:04am
Quoting emda
I'm more inclined to think game over dollar...

remember that we are in a risky moment to play forex... big spreads.. big surprises... and many people would not trade the current price action... but place orders at levels that would attract price to that level to bounce heavily then... just a thought...
an example of the above... in minor scale... bounce of 1.4300 keylevel.. support... seemed as a break down just before bouncing... doesn't mean that euro is dropping.. it only means that euro is going to be launched from 1.4300 and it has to reach that level to bounce.
  • #35,344
  • Sep 30, 2008 7:15am Sep 30, 2008 7:15am
Quoting emda
an example of the above... in minor scale... bounce of 1.4300 keylevel.. support... seemed as a break down just before bouncing... doesn't mean that euro is dropping.. it only means that euro is going to be launched from 1.4300 and it has to reach that level to bounce.
I don't know Emda. The Daily RSI is pointing straight down. It will be interesting to see how the markets react today. Maybe you are right, the Euro will bounce from 43, but the indicators are pointing south still.
  • #35,345
  • Edited 7:26am Sep 30, 2008 7:22am | Edited 7:26am
4250(fib38.2lvl from 38 low) or 4200 should hold the bear... today's low is around that number
Money often costs too much...
  • #35,346
  • Sep 30, 2008 7:24am Sep 30, 2008 7:24am
Surely there's more than one trader around here making a killing these days ...
  • #35,347
  • Sep 30, 2008 7:27am Sep 30, 2008 7:27am
Quoting PipGal
I don't know Emda. The Daily RSI is pointing straight down. It will be interesting to see how the markets react today. Maybe you are right, the Euro will bounce from 43, but the indicators are pointing south still.
I agree... the example was valid only in the 5 sec charts... as a bounce.. what I can say is that if the trend is still down.. this may be the last down move before starting the first wave of a new up trend.
  • #35,348
  • Sep 30, 2008 7:27am Sep 30, 2008 7:27am
that word is WAY to kind...
  • #35,349
  • Sep 30, 2008 7:31am Sep 30, 2008 7:31am
here is an update of my previous chart. assuming 1.315 was previous strong support it is now acting as resistance. better yet...the lower wall of that massive descending triangle is acting as resistance as well. the question now is whether this is a false breakout or will be followed by a greater move...i still hold short bias

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well that move answered my questions...haha easy 80pips...closed trade and waiting reaction at 1.4250
Different opinions highly valued, ignorant to slander.
  • #35,350
  • Sep 30, 2008 7:38am Sep 30, 2008 7:38am
nice drop through 1.43
  • #35,351
  • Sep 30, 2008 7:39am Sep 30, 2008 7:39am
if Im right.. should bounce again from here.. and perhaps continue to around 4200.. or continue up to certain MAs resistance
Money often costs too much...
  • #35,352
  • Sep 30, 2008 7:41am Sep 30, 2008 7:41am
or will it bounce from 1.4204
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  • #35,353
  • Sep 30, 2008 7:44am Sep 30, 2008 7:44am
We just touched 61.8 Fib of the last up wave on D1, a break or bounce from here should give us a direction for the next hours.
  • #35,354
  • Sep 30, 2008 7:46am Sep 30, 2008 7:46am
Quoting indotrader
if Im right.. should bounce again from here.. and perhaps continue to around 4200.. or continue up to certain MAs resistance
dude i think electronic trading was a forecast of what will happen this week...i truly believe well see 1.400 sometime during the week...at least get very close today considering its the last day of the month
Different opinions highly valued, ignorant to slander.
  • #35,355
  • Sep 30, 2008 7:51am Sep 30, 2008 7:51am
Next Target:

EUR/USD .... 1.4177
GBP/USD .... 1.7931
AUD/USD .... 0.7931
NZD/USD .... 0.6651

USD/CHF .... 1.1063 retest 1.0981
USD/CAD .... 1.0600 retest 1.0433
USD/JPY .... 106.00 retest 104.57
__________________
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  • #35,356
  • Sep 30, 2008 7:53am Sep 30, 2008 7:53am
Quoting psiholog
dude i think electronic trading was a forecast of what will happen this week...i truly believe well see 1.400 sometime during the week...at least get very close today considering its the last day of the month
agreed ! go bear ! ahhh... nowadays is such a scalping paradise as for me
Money often costs too much...
  • #35,357
  • Sep 30, 2008 7:57am Sep 30, 2008 7:57am
Quoting Algirdas
Next Target:

EUR/USD .... 1.4177
GBP/USD .... 1.7931
AUD/USD .... 0.7931
NZD/USD .... 0.6651

USD/CHF .... 1.1063 retest 1.0981
USD/CAD .... 1.0600 retest 1.0433
USD/JPY .... 106.00 retest 104.57
__________________
hey Al, Im still shorting NZD, will move TP to 0.6651, thanks m8!
Money often costs too much...
  • #35,358
  • Sep 30, 2008 7:59am Sep 30, 2008 7:59am
one more update of my chart..this time fibs included
note that we are right on the 61.8% retracement line from 1.38 to 1.48....we could see a retest of the triangle we broke out of here(wiping out my current trade) or crash through it like no other...to be seen

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Different opinions highly valued, ignorant to slander.
  • #35,359
  • Sep 30, 2008 8:09am Sep 30, 2008 8:09am
Good article to read from The Telegraph today:

http://www.telegraph.co.uk/finance/f...-traction.html

Banking crash hits Europe as ECB loses traction
  • #35,360
  • Sep 30, 2008 8:09am Sep 30, 2008 8:09am
9:00am USDhttp://www.forexfactory.com/images/m...mpact_high.gifCB Consumer Confidence
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