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  • #36,521
  • Oct 3, 2008 6:57am Oct 3, 2008 6:57am
Quoting egkid
I'm in profit with [email protected],Here my 4h chart it say Down
Why u think it Bad idea to go short ?
If you are a 30/50 pips SL Trader it is Bad Idea.
Shorts are the only thing to do, but today it is very danger to enter shorts below 1.3888, as I said price can test 1.3950 or even higher.

Strategy is Shorting Euro at all rises, but better wait to see a nice up moves.
I am going to put here possible short entries:
After NFP release:
short 1.3941 SL 1.4009 25% of winning
short 1.4041 75% of winning
short 1.4127 100% of winning
After release data Price can drop fast, this is very hard to enter short if price go below 1.3800 promptly.
I do not advice any longs on drops!
If NFP data is very, very bad I might consider enter a tiny long at 1.3900.
BUT BETTER TO STAT OUT TODAY, we have a lot of opportunities to trade.
  • #36,522
  • Oct 3, 2008 7:15am Oct 3, 2008 7:15am
looks like the bears are pushing it down in readyness for the bad NFP report.
  • #36,523
  • Oct 3, 2008 7:21am Oct 3, 2008 7:21am
If we all are expecting a bad Non-Farm Employment, why we should go short? Isn't that a bad sign for the dollar?

Newbie question
  • #36,524
  • Oct 3, 2008 7:23am Oct 3, 2008 7:23am
Quoting altrader
looks like the bears are pushing it down in readyness for the bad NFP report.
The expected number is quite poor and worse than the bad surprise of last time as I recall, wouldn't be surprised if it will actually be better and push eu lower.

Nobody knows when the vote is ?
On the path to Enrichment.
  • #36,525
  • Oct 3, 2008 7:27am Oct 3, 2008 7:27am
taking breath before the news, I bet down, with tight stop
  • #36,526
  • Oct 3, 2008 7:29am Oct 3, 2008 7:29am
protect you pips. best advice
  • #36,527
  • Oct 3, 2008 7:29am Oct 3, 2008 7:29am
Quoting Jurrasic
The expected number is quite poor and worse than the bad surprise of last time as I recall, wouldn't be surprised if it will actually be better and push eu lower.

Nobody knows when the vote is ?
haha, yeah could be.

And i also can't find when this vote is to take place
  • #36,528
  • Oct 3, 2008 7:33am Oct 3, 2008 7:33am
NFP: -159k when they were expecting -100k ouch
  • #36,529
  • Oct 3, 2008 7:33am Oct 3, 2008 7:33am
I don't see any logic last days on EUR/USD. Big bad change on Non-farm and move in wrong direction as effect?
  • #36,530
  • Oct 3, 2008 7:35am Oct 3, 2008 7:35am
Quoting Jurrasic
What time (GMT) is the Congress vote ?
Thanks
According to Saxobank: in the 1600-1630 GMT time frame
..
  • #36,531
  • Oct 3, 2008 7:37am Oct 3, 2008 7:37am
Quoting Slicktick
According to Saxobank: in the 1600-1630 GMT time frame
Thanks!

There's nothing to understand here I believe, it's all a big retrace/bear trap/market setup as I see it. Longer term we're more likely to reach 1.8+ than parity I believe.
On the path to Enrichment.
  • #36,532
  • Oct 3, 2008 7:38am Oct 3, 2008 7:38am
When the NFP was announced, pip spreads went to 10-12 for about a minute.
  • #36,533
  • Oct 3, 2008 7:39am Oct 3, 2008 7:39am
1.3777/1.3888 will be the range to watch!
But very careful, put SL.
  • #36,534
  • Oct 3, 2008 7:39am Oct 3, 2008 7:39am
A number like that should have sent the euro at least 100 pips morth.....man this is very strange


Quoting Jurrasic
Thanks!

There's nothing to understand here I believe, it's all a big retrace/bear trap/market setup as I see it. Longer term we're more likely to reach 1.8+ than parity I believe.
It's All About Attitude ...
  • #36,535
  • Oct 3, 2008 7:40am Oct 3, 2008 7:40am
Quoting MoamarKadafi
Hey guys, I would like to learn everything about Moving averages, candle sticks and chart patterns. can anyone guide me to some good online resources?
Kadafi, go to this thread for some good live-trade info on candlesticks. EyeVoltage (an English fellow) is a real student of that game.

http://www.forexfactory.com/showthread.php?t=98028
Up or down, gimme a ticket
  • #36,536
  • Oct 3, 2008 7:40am Oct 3, 2008 7:40am
Quoting kandarv
If we all are expecting a bad Non-Farm Employment, why we should go short? Isn't that a bad sign for the dollar?

Newbie question
Bad signs for dollar did little to lift EU in recent weeks. I do not expect any serious raise in EUR purely on those news. It may spike up for a moment, just to fall lower a short while later.
  • #36,537
  • Oct 3, 2008 7:40am Oct 3, 2008 7:40am
the best way yo trade NFP is not to trade at all
  • #36,538
  • Oct 3, 2008 7:41am Oct 3, 2008 7:41am
Quoting Jurrasic
Thanks!

There's nothing to understand here I believe, it's all a big retrace/bear trap/market setup as I see it. Longer term we're more likely to reach 1.8+ than parity I believe.
So then you're pretty confident about the prospects for EU zone recovering before the US then.

But the thing is...if the credit market---libor is not fixed soon...then wouldn't a lot of banks in EU zone also run the risk of crashing like in the US? I'm not sure I could call a winner between two bad areas.

Although having said that Trichet seems pretty confident that EU Zone will start growing at some stage during 2010 and he has always said that. Something tells me he knows something that we don't.
  • #36,539
  • Oct 3, 2008 7:43am Oct 3, 2008 7:43am
Take a look @ EJ in 5M TF,,,when NFP out...

it is like double bladed doji to whip LONG/and SHort out...

Well..I was the t lucky one..for this...

Earn 20 pips fr SHORT and
EArn 30 pips fr LONG..


Sonic
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  • #36,540
  • Oct 3, 2008 7:45am Oct 3, 2008 7:45am
This big number looks me like a negative Q3 GDP indicator...

I am certain that Congress will change mind tonight. If there is a bookie offering the bet, I would take it with out hesitation. But how will market react? Will there be any additions and news besides the bill itself that could cause the market react? What are your calls?
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