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EURUSD

  • #38,061
  • Oct 8, 2008 10:35am Oct 8, 2008 10:35am
Oil at 86.85
  • #38,062
  • Oct 8, 2008 10:39am Oct 8, 2008 10:39am
my opinion...we have a gap that needs to be closed for this week its just too ugly the way it is...1.3882 felt good...it just doesnt feel right for this pair to go any lower without retapping that level again...just tap and bounce....in any case 1.3605/15 is my entry point now as the next hourly candlestick feels oh so bearish and may retap a breakout wall

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 34 KB


sidenote:...my daily goal is 150pips. i need 25 more to reach that goal today ...is it greed or stupidity for me to enter now at this highly volatile and risky time?
Different opinions highly valued, ignorant to slander.
  • #38,063
  • Oct 8, 2008 10:50am Oct 8, 2008 10:50am
Quoting psiholog
my opinion...we have a gap that needs to be closed for this week its just too ugly the way it is...1.3882 felt good...it just doesnt feel right for this pair to go any lower without retapping that level again...just tap and bounce....in any case 1.3605/15 is my entry point now as the next hourly candlestick feels oh so bearish and may retap a breakout wall

Attachment

sidenote:...my daily goal is 150pips. i need 25 more to reach that goal today ...is it greed or stupidity for me to enter now at this highly volatile and risky time?
if you have to enter then maybe do it with a really small position size?
  • #38,064
  • Oct 8, 2008 10:51am Oct 8, 2008 10:51am
Quoting T.s.
is the overall bias of the room now bullish???
If you are new,,No Trade, No Trade,,,.. do not trade at all thees days. Just keep eye on BLOG and I let you know when it's good trade for all of us. by ALGIRDAS This man is a great teacher and great trader. One of the best.
  • #38,065
  • Oct 8, 2008 10:53am Oct 8, 2008 10:53am
Quoting altrader
if you have to enter then maybe do it with a really small position size?
hmmm....interesting...will consider it...i may just stay out as i do recommend all non scalpers to sit out of this insane market...we have clear breakout points...1.3740 to the upside and 1.3600 to the downside...still...the risk doesnt feel like its worth it...really a gamble at this point
Different opinions highly valued, ignorant to slander.
  • #38,066
  • Oct 8, 2008 10:59am Oct 8, 2008 10:59am
Richard McGuire, fixed income strategist from RBC Capital Markets, said after today's global co-ordinated rate cuts he is expecting further aggressive easing from central banks especially from the Bank of England and the European Central Bank. McGuire said he is expecting BOE to cut rates to 3.00% by the end of 2009. "Cuts from the Fed will be limited because rates are already low but we think there will be further aggressive action from the BOE and ECB. The path of least resistance is a steeper curve here," he said. "It is a trade we have on our books and continue to let it run." NC
  • #38,067
  • Oct 8, 2008 10:59am Oct 8, 2008 10:59am
seems like 45 min ago a bull ran through the pasture should i short now???
T.S.
  • #38,068
  • Oct 8, 2008 11:04am Oct 8, 2008 11:04am
man im so depressed these last 2 days have been my worst ever...record losses for me

hate ranging market
  • #38,069
  • Oct 8, 2008 11:05am Oct 8, 2008 11:05am
Quoting acumen
Richard McGuire, fixed income strategist from RBC Capital Markets, said after today's global co-ordinated rate cuts he is expecting further aggressive easing from central banks especially from the Bank of England and the European Central Bank. McGuire said he is expecting BOE to cut rates to 3.00% by the end of 2009. "Cuts from the Fed will be limited because rates are already low but we think there will be further aggressive action from the BOE and ECB. The path of least resistance is a steeper curve here," he said. "It is a trade we have on our books and continue to let it run." NC
I have to agree, Euro i slikely to wane...cuts are likely, and the run in EURAUD is screaming top, so a cut would be nice.. *gulp*
  • #38,070
  • Oct 8, 2008 11:06am Oct 8, 2008 11:06am
Lost €4000 today
I feel so bad
  • #38,071
  • Oct 8, 2008 11:06am Oct 8, 2008 11:06am
I know what you mean. I have been in the same boat.

Quoting ShadowPrince
man im so depressed these last 2 days have been my worst ever...record losses for me

hate ranging market
  • #38,072
  • Oct 8, 2008 11:08am Oct 8, 2008 11:08am
OPEC considering emergency November meeting
  • #38,073
  • Oct 8, 2008 11:09am Oct 8, 2008 11:09am
Quoting ShadowPrince
man im so depressed these last 2 days have been my worst ever...record losses for me

hate ranging market
Take it easy dude. I lost 35% of my account two days ago ($708). It hurts a bit at first but you'll recover. One thing I've been learning is to scale into trades and to use much much smaller position size than you normally would.

Try to build what you lost back up over a longer period of time and don't rush the markets.

You'll be ok
  • #38,074
  • Oct 8, 2008 11:09am Oct 8, 2008 11:09am
Consider this b4 enetring a trade -

1. Trade setup is for a medium term ( 4H )

2. Pair is siginificantly volatile

3. And the this trading setup has a high percentage of accuracy

4. Do some home work b4 excute a trade

5. I don't trade eur/usd till next week

peace ..
Attached Image (click to enlarge)
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Fools Rushing
  • #38,075
  • Oct 8, 2008 11:09am Oct 8, 2008 11:09am
Nice shot buffalo bill, that bull is dead... 1.3666 become a suport looking at 5 min.
T.S.
  • #38,076
  • Oct 8, 2008 11:11am Oct 8, 2008 11:11am
Quoting T.s.
seems like 45 min ago a bull ran through the pasture should i short now???
it was earlier mentioned fibs are great psychological supports resistances. this case is no different with the 23.6% and the 61.8% from the low at 1.4550 to current high acting as strong boundaries before further breakout. now i dont suggest playing and even less so to follow my methods but to answer your question...this is a ranging market until a clear breakout so shorting at 23.6% is not a bad idea

now keep this in mind....this market has more upwards momentum at this time...meaning bulls control 51% of the time so we could see a break to the upside at any time...personally i buy at the 61.8% as i feel there is less risk involved

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 40 KB
Different opinions highly valued, ignorant to slander.
  • #38,077
  • Oct 8, 2008 11:14am Oct 8, 2008 11:14am
Quoting psiholog
it was earlier mentioned fibs are great psychological supports resistances. this case is no different with the 23.6% and the 61.8% from the low at 1.4550 to current high acting as strong boundaries before further breakout. now i dont suggest playing and even less so to follow my methods but to answer your question...this is a ranging market until a clear breakout so shorting at 23.6% is not a bad idea

now keep this in mind....this market has more upwards momentum at this time...meaning bulls control 51% of the time so we could see a break to the upside at any time...personally i buy at the 61.8% as i feel there is less risk involved

Attachment

Got it, thanks.... You should write a commentary, I hear you could make a livin' at it...Do you trade full time??? I love to get 15 20 pip bites... this thing is like pin ball...
T.S.
  • #38,078
  • Oct 8, 2008 11:16am Oct 8, 2008 11:16am
Quoting TIckerShuffl
I have to agree, Euro i slikely to wane...cuts are likely, and the run in EURAUD is screaming top, so a cut would be nice.. *gulp*
Intrest rates around the world are going to be comming down over the next couple of months (except US and Japan)---US is ahead of the cut curve--and will almost certainly strenghten (vs. yen..not so much). I will say it one more time (Expert scalpers excluded)... Why would anyone be long E/U right now? Wait for rallys and sell.
  • #38,079
  • Oct 8, 2008 11:17am Oct 8, 2008 11:17am
Quoting psiholog
it was earlier mentioned fibs are great psychological supports resistances. this case is no different with the 23.6% and the 61.8% from the low at 1.4550 to current high acting as strong boundaries before further breakout. now i dont suggest playing and even less so to follow my methods but to answer your question...this is a ranging market until a clear breakout so shorting at 23.6% is not a bad idea

now keep this in mind....this market has more upwards momentum at this time...meaning bulls control 51% of the time so we could see a break to the upside at any time...personally i buy at the 61.8% as i feel there is less risk involved

Attachment
... impressive...

it's quite interesting analytic skills you have..keep it up...

peace...
Fools Rushing
  • #38,080
  • Oct 8, 2008 11:20am Oct 8, 2008 11:20am
Quoting T.s.
Got it, thanks.... You should write a commentary, I hear you could make a livin' at it...Do you trade full time??? I love to get 15 20 pip bites
i understand people in the trading world make alot of money just "sharing" their methods, they probably dont even trade and just take the money they get off their system. i have no such intent...to me knowledge is free so i fully share it in this thread at no cost
Different opinions highly valued, ignorant to slander.
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