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EURUSD

  • #37,581
  • Oct 7, 2008 12:51pm Oct 7, 2008 12:51pm
crap - $300 today
  • #37,582
  • Oct 7, 2008 12:52pm Oct 7, 2008 12:52pm
I entered Long
  • #37,583
  • Oct 7, 2008 12:53pm Oct 7, 2008 12:53pm
Quoting Polonaise
I entered Long
I'm personnaly avoid any long on this market... volatlity is high and... except we are Bearish long time now.. nobody can act for a clear direction...
  • #37,584
  • Oct 7, 2008 12:54pm Oct 7, 2008 12:54pm
seems it bounced from 30m TL
  • #37,585
  • Oct 7, 2008 1:03pm Oct 7, 2008 1:03pm
Quoting Polonaise
seems it bounced from 30m TL
I just got a reversal candle on the 15min chart. Hoping it works out for me, and you.
therealisttruest (FF wouldn't let me put my full ID because of length)
  • #37,586
  • Oct 7, 2008 1:04pm Oct 7, 2008 1:04pm
Quoting Polonaise
seems it bounced from 30m TL

Well if you are trading 5 minute chart you may have a good point, but it did penetrate a minor support and now using the former support as a resistance, I would sit sideline on any long until this is violated... again my opinion...
T.S.
  • #37,587
  • Oct 7, 2008 1:04pm Oct 7, 2008 1:04pm
today is working out to be a decent day for me. lets just hope I dont screw it up later.

in any case, i'm looking to get out of my shorts in a bit. then i'm going to stand flat until I see if we're in a reversal, or going back down.
  • #37,588
  • Oct 7, 2008 1:06pm Oct 7, 2008 1:06pm
Quoting T.s.
Well if you are trading 5 minute chart you may have a good point, but it did penetrate a minor support and now using the former support as a resistance, I would sit sideline on any long until this is violated... again my opinion...
minor support @ what level?

1.36??
  • #37,589
  • Oct 7, 2008 1:09pm Oct 7, 2008 1:09pm
Quoting therealist
I just got a reversal candle on the 15min chart. Hoping it works out for me, and you.
Nevermind, I'm trying not to overtrade, and it's countertrend so I took a couple of pips and walked. It still might work out, but I just don't have the time or patience this morning. I should be done, I'm already doing well in the last day. Good luck all!
therealisttruest (FF wouldn't let me put my full ID because of length)
  • #37,590
  • Oct 7, 2008 1:12pm Oct 7, 2008 1:12pm
Quoting kasper
minor support @ what level?

1.36??

yeah, sorry i guess it would have been a good thing to add....well blew back through it and testing 3625 (R)esistance let us see if Bulls can make a run or if we are eating Filet Mignon for dinner.
T.S.
  • #37,591
  • Edited 1:29pm Oct 7, 2008 1:28pm | Edited 1:29pm
Area around 3600 is still a long term support area on the weekly chart. Price has congested here several times going back to 2005 and 2007. Dangerous area that could spell either support or resistance.

For the short term (today) prices have been hard pressed to get too much below 3585 (price opening at midnight EST) once it broke that during the NY session after 6AM EST.

There is a strong upsloping trendline on the 15M and 4HR that started yesterday afternoon and has three strong reversals off of it since that time, and the previous 4HR channel is definitely broken and re-tested on my chart.

I think the short term correction continues up until this new lower trendline is broken decisively.
Attached Image (click to enlarge)
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  • #37,592
  • Oct 7, 2008 1:35pm Oct 7, 2008 1:35pm
I am currenctly short in eurusd....4 hour trade

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  • #37,593
  • Oct 7, 2008 1:37pm Oct 7, 2008 1:37pm
Quoting PipPilot
Area around 3600 is still a long term support area on the weekly chart. Price has congested here several times going back to 2005 and 2007. Dangerous area that could spell either support or resistance.

For the short term (today) prices have been hard pressed to get too much below 3585 (price opening at midnight EST) once it broke that during the NY session after 6AM EST.

There is a strong upsloping trendline on the 15M and 4HR that started yesterday afternoon and has three strong reversals off of it since that time, and the previous 4HR channel is definitely broken and re-tested on my chart.

I think the short term correction continues up until this new lower trendline is broken decisively.
agreed that line could be the lower wall of a new upwards channel and until it gets broken...bias is up?......crazy market
Different opinions highly valued, ignorant to slander.
  • #37,594
  • Oct 7, 2008 1:44pm Oct 7, 2008 1:44pm
doesnt know where it wants to go. 1.362 and 1.361. keeps spiking past both, but then immediately goes back.
  • #37,595
  • Oct 7, 2008 1:44pm Oct 7, 2008 1:44pm
reinstatement. Should be equity positive/global economy positive.
  • #37,596
  • Oct 7, 2008 1:49pm Oct 7, 2008 1:49pm
um ... explanation? why the spike?
  • #37,597
  • Oct 7, 2008 1:51pm Oct 7, 2008 1:51pm
good call on the short bull play... now testing resistance, will the bulls have enough intestinal fortitude to break through????
T.S.
  • #37,598
  • Oct 7, 2008 1:54pm Oct 7, 2008 1:54pm
Quoting T.s.
good call on the short bull play... now testing resistance, will the bulls have enough intestinal fortitude to break through????
sure as hell fighting for it. that's for sure. wiped out my shorts. errr.
  • #37,599
  • Oct 7, 2008 1:54pm Oct 7, 2008 1:54pm
well i think its safe to assume the previous downwards channel is officially done with. we now have the clear visible support line...and a possible resistance line connecting the two highest spikes for this week. i will be looking to short at the top or play a break up if that wall is reached...and shorting if the lower wall gets broken as bias is very much bearish still...to be seen...for now...flat as we are in crazy territory

Attached Image (click to enlarge)
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Sidenote: i do not know for sure if the upper wall is valid as ibfx opened one hour after market open..to be seen
Different opinions highly valued, ignorant to slander.
  • #37,600
  • Oct 7, 2008 1:56pm Oct 7, 2008 1:56pm
Look now at range 1,3550-1,3575 ..
This is the area on the hour basis to overcome
The best thing that can happen to you is to find out where you're wrong.
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