EURUSD | Page 1861 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #37,201
  • Oct 6, 2008 10:25am Oct 6, 2008 10:25am
Quoting emda
shit.. I said it but now it is really happening... I should read my posts more.. lol
According to my dollar chart it is making higher highs and just broke up hard through resistance today. Not sure what chart you are looking at?
  • #37,202
  • Oct 6, 2008 10:26am Oct 6, 2008 10:26am
Quoting Donyouth4eva
http://halturnershow.blogspot.com/20...mero-from.html
That guy is a nutcase.

http://en.wikipedia.org/wiki/Amero#R...Amero_coins.22

and

http://www.dc-coin.com/index.asp?Pag...ATS&Category=8
  • #37,203
  • Oct 6, 2008 10:26am Oct 6, 2008 10:26am
this is the craziest market i have ever seen. i dont think its as much fundamentals as it is a panic sell off. this pretty much was what traders think are the "safe" currencies...the yen and the dollar are those right now. i laugh at the australian dollar considering gold is up and vix at all time high.

anyways...the descending triangle we saw last week now seems to be a descending channel. the upper wall extended when we broke out last friday asian session. today we tapped the lower wall again and it seems to be solid. now...a return to the upper wall is possible and 23.6% fib retracement also sounds good IF we reached a bottom.

i strongly recommend sitting on the sideline as this is the craziest volatility most of us have seen...currency markets...stock market...everything..INSANE

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 30 KB
Different opinions highly valued, ignorant to slander.
  • #37,204
  • Oct 6, 2008 10:27am Oct 6, 2008 10:27am
My wife has no interst in the financial markets, nor any concept about how they work. She does not even know what we have in our checking account. She is a 3rd grade teacher. She just emailed me and said all of the teachers at her school are talking about going and taking their money out of the bank today...and she wondered if we should do the same. This scares the bejezel out of me. We need to bounce and find a bottom, or else we truly do stand on the edge of the abyss. If average people start pulling their money out en mass, it is over...FDIC cannot stand up to that tidal wave.
  • #37,205
  • Oct 6, 2008 10:28am Oct 6, 2008 10:28am
Quoting Sikula
looks like The Rescue Package works wery well
Aren't too many things in life that work overnight.

Rescued the dollar on this pair.

m
  • #37,206
  • Oct 6, 2008 10:29am Oct 6, 2008 10:29am
....Never expected to see what is going on.
I continue to see some support to Euro, everyone is seeing what is going on and USD are with very difficult to add more gains today.

After Euro reached 1.3540 earlier, and then went to 1.3640 area, I have opened a long at 1.3588 after retesting, It is open with a short at 1.3539.
So my position is now protected with some pip losses.
It is simple or I assume that pips lost or will try to pick the next right move.
I am tempting to close my positions, but......
  • #37,207
  • Oct 6, 2008 10:31am Oct 6, 2008 10:31am
Wonder if its gonna test 38.2% = 1.3535, might get a bit short.... and then plummet down again
They think they are smarter than I am.
  • #37,208
  • Oct 6, 2008 10:32am Oct 6, 2008 10:32am
Quoting psiholog
this is the craziest market i have ever seen. i dont think its as much fundamentals as it is a panic sell off. this pretty much was what traders think are the "safe" currencies...the yen and the dollar are those right now. i laugh at the australian dollar considering gold is up and vix at all time high.

anyways...the descending triangle we saw last week now seems to be a descending channel. the upper wall extended when we broke out last friday asian session. today we tapped the lower wall again and it seems to be solid. now...a return to the upper wall is possible and 23.6% fib retracement also sounds good IF we reached a bottom.

i strongly recommend sitting on the sideline as this is the craziest volatility most of us have seen...currency markets...stock market...everything..INSANE

Attachment
great advice.

Do you think we'll see much more action today or have to wait until the asian open?
  • #37,209
  • Oct 6, 2008 10:33am Oct 6, 2008 10:33am
Quoting homestudy
According to my dollar chart it is making higher highs and just broke up hard through resistance today. Not sure what chart you are looking at?
you are right... I was looking at USDJPY... but USD is still strong agains all the others... but look at the DOW.. falling like a sword...
  • #37,210
  • Oct 6, 2008 10:33am Oct 6, 2008 10:33am
i cant think at the moment i dont even know what im looking at lol, im going crazy.....i have 2 positions open one on EU and one on EJ both short....
  • #37,211
  • Oct 6, 2008 10:35am Oct 6, 2008 10:35am
Quoting altrader
great advice.

Do you think we'll see much more action today or have to wait until the asian open?
I'm sorry for your loss today altrader.... but don't panic... you are still alive.. and I'm sure that what you have learned today is worth a lot of $$$ in the future... you will see
  • #37,212
  • Oct 6, 2008 10:37am Oct 6, 2008 10:37am
Quoting FX-Petra
My wife has no interst in the financial markets, nor any concept about how they work. She does not even know what we have in our checking account. She is a 3rd grade teacher. She just emailed me and said all of the teachers at her school are talking about going and taking their money out of the bank today...and she wondered if we should do the same. This scares the bejezel out of me. We need to bounce and find a bottom, or else we truly do stand on the edge of the abyss. If average people start pulling their money out en mass, it is over...FDIC cannot stand up to that tidal wave.
This is exactly why it's so important that government guarantees personal bank savings as many european countries have done - without that when the panic hits, all the banks will fall.

Because the fractional reserve banking works as it works, when X% (depends what the ratio is in your country, for example in united states it's 10) of saving account holders panic and widthraw their money, the bank is in de facto bankrupt immediatly.

That's why I also think the united states style bailout is not what will save the markets. European style bailout where the banks will be nationalized (as is already done in couple of cases) and savings will be guaranteed is the way to go. And the taxpayers will also get something out of this mess when the dust settles.
  • #37,213
  • Oct 6, 2008 10:38am Oct 6, 2008 10:38am
LOL.. yeah that AUDUSD chart is completely OFF CHART... WOW... 170 pips from pivot to S3 for example... and price went 600 pips more of the S3 !!! I'm sure many traders have losses today. I didn't trade today.
AUDUSD needed S4 and S5 and S6 pivots today... lol
  • #37,214
  • Oct 6, 2008 10:38am Oct 6, 2008 10:38am
Quoting altrader
yeah good advice. I'm kinda shell shocked. I'm going to take a break as well. Man, what the hell happend just now? The yen just got really really strong lol.
lol makes no sense. everyone wants dollars but the yen appreciates.

bloomberg tried to describe it here: http://bloomberg.com/apps/news?pid=2...Y2M&refer=home
  • #37,215
  • Oct 6, 2008 10:38am Oct 6, 2008 10:38am
Quoting altrader
great advice.

Do you think we'll see much more action today or have to wait until the asian open?
considering the volatility today...anything is possible....honestly...what mikkom posted scares the bejeezus out of me... i hope its a nut case but what he says is very logical...
Different opinions highly valued, ignorant to slander.
  • #37,216
  • Oct 6, 2008 10:39am Oct 6, 2008 10:39am
Anybody can guess wath will happen if ECB and the FED cuts rate at the same time?
  • #37,217
  • Oct 6, 2008 10:40am Oct 6, 2008 10:40am
Quoting emda
I'm sorry for your loss today altrader.... but don't panic... you are still alive.. and I'm sure that what you have learned today is worth a lot of $$$ in the future... you will see
Thanks for the encouragement dude, I really appreciate it.

It hurts but something tells me you're right. I contemplated putting in $5000 into my account at first but refrained and put in $1973 instead. I'm glad I didn't put 5000k in or i would have lost a lot more than $708

Now i'm going to go back to my older methods and try to just gain 40pips per day and risk no more than 2% per trade.

I thought i could get 100-150pips per day in the current volatility like some people in this thread but I don't think I should bother. It's like the greed of seeing so much action made me think that I could trade all the time instead of waiting for select moments and being patient.

But yeah I have learned.
  • #37,218
  • Oct 6, 2008 10:43am Oct 6, 2008 10:43am
Quoting acumen
Great job.

m

Thanks Acumen. I will be curious to see how the long term pattern of EU holds up now that the long uptrend since 2002 has been broken. Wave 5 of uptrend completed now perhaps it will go down to 50% support at 1.17.

This is long term, of course.
  • #37,219
  • Oct 6, 2008 10:43am Oct 6, 2008 10:43am
Quoting mikkom
This is exactly why it's so important that government guarantees personal bank savings as many european countries have done - without that when the panic hits, all the banks will fall.

Because the fractional reserve banking works as it works, when X% (depends what the ratio is in your country, for example in united states it's 10) of saving account holders panic and widthraw their money, the bank is in de facto bankrupt immediatly.

That's why I also think the united states style bailout is not what will save the markets. European style bailout where the banks will be nationalized (as is already done in couple of cases) and savings will be guaranteed is the way to go. And the taxpayers will also get something out of this mess when the dust settles.
So what if the govornment "guarantees" our deposits. We are the govornment! If everyone wants their money at the same time, it would take months to even print that much...regardless of what it would be worth.
  • #37,220
  • Oct 6, 2008 10:46am Oct 6, 2008 10:46am
Quoting altrader
Thanks for the encouragement dude, I really appreciate it.

It hurts but something tells me you're right. I contemplated putting in $5000 into my account at first but refrained and put in $1973 instead. I'm glad I didn't put 5000k in or i would have lost a lot more than $708

Now i'm going to go back to my older methods and try to just gain 40pips per day and risk no more than 2% per trade.

I thought i could get 100-150pips per day in the current volatility like some people in this thread but I don't think I should bother. It's like the greed of seeing so much action made me think that I could trade all the time instead of waiting for select moments and being patient.

But yeah I have learned.
yes.. indeed...
also now don't think ohhh if I would have waited a little more I would have recovered 300.. or 400.. or all... no... just start again without looking at the previous trade.... don't suffer... because.. You did it great.. because you still have an account.. many today have destroyed the 100% of the account.. for sure.. you did it very well... I would not trade more for today.. and start tomorrow again.
1,895 traders viewing now