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EURUSD

  • #38,181
  • Oct 8, 2008 3:06pm Oct 8, 2008 3:06pm
ruh roh. breaking 1.36 and the upward trendline from this morning. that cant be good. say bye bye to the chance of seeing 1.378
  • #38,182
  • Oct 8, 2008 3:10pm Oct 8, 2008 3:10pm
Quoting nedal26
bilhawa sawa...1.3545...
lol kifak
When life gives you lemons, make lemonade
  • #38,183
  • Oct 8, 2008 3:11pm Oct 8, 2008 3:11pm
ok, here's one of my favorite dusty old quotes from a bygone age...

We trained hard... but it seemed that every time we would begin to form up into teams we would be reorganized. I was to learn later in life that we tend to meet any new situation by reorganizing, and a wonderful method it can be for creating the illusion of progress while producing confusion, inefficiency and demoralization."
Petronius Arbiter 210 B.C.

2,218 years later... who knew?
FUBAR...
  • #38,184
  • Oct 8, 2008 3:14pm Oct 8, 2008 3:14pm
Looking at the Hr4 chart, the top of the range is void of all but wicks. On the Hr1 chart, we are trending solidly down now for 3 timeframes. But there is yet to be big volume to the downside, like there was upside volume at the end of the Asian and thru the Euro sessions. We are closing the US session just a handful of pips above midrange. The next session should be interesting. The price is high enough to allow the Asian session traders to smash it down 100 pips to the bottom of the previous Asian session.....so, they shouldn't feel like they have missed out on any good moves.
  • #38,185
  • Oct 8, 2008 3:17pm Oct 8, 2008 3:17pm
New Pivot:

EUR/USD now Short, Pivot 1.3611 and Long, Target 150 pips
GBP/USD now Long, Pivot 1.7427 and Short, Target 150 pips
NZD/USD Pivot 0.6107 and Short
AUD/USD 0.6827 Short until next Update

USD/CAD now Short, Pivot 1.1107 and Long 200 pips
USD/CHF Retrecmant near 1.1321 and Short
USD/JPY now Long Until 101.43 and Short

In a few words, pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.
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  • #38,186
  • Oct 8, 2008 3:21pm Oct 8, 2008 3:21pm
Quoting Algirdas
New Pivot:

EUR/USD now Short, Pivot 1.3611 and Long, Target 150 pips
GBP/USD now Long, Pivot 1.7427 and Short, Target 150 pips
NZD/USD Pivot 0.6107 and Short
AUD/USD 0.6827 Short until next Update

USD/CAD now Short, Pivot 1.1107 and Long 200 pips
USD/CHF Retrecmant near 1.1321 and Short
USD/JPY now Long Until 101.43 and Short

In a few words, pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.
Went short on EURUSD as well, looking for a good ride on that. Be careful with your USDJPY - I don't see that hitting 101.43 after the joint intervention. 103 was its grace price yesterday, looks downhill till 93 before another invention, then its downhill to 90 or below from there on.
  • #38,187
  • Oct 8, 2008 3:22pm Oct 8, 2008 3:22pm
Quoting Algirdas
New Pivot:

EUR/USD now Short, Pivot 1.3611 and Long, Target 150 pips
GBP/USD now Long, Pivot 1.7427 and Short, Target 150 pips
NZD/USD Pivot 0.6107 and Short
AUD/USD 0.6827 Short until next Update

USD/CAD now Short, Pivot 1.1107 and Long 200 pips
USD/CHF Retrecmant near 1.1321 and Short
USD/JPY now Long Until 101.43 and Short

In a few words, pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.

any chance to see 1.3545 or shoulsd close it at any near point?
  • #38,188
  • Oct 8, 2008 3:26pm Oct 8, 2008 3:26pm
Quoting nedal26
any chance to see 1.3545 or shoulsd close it at any near point?
Absolutely. it just broke the resistance line on the 15 min chart, next support price to be tested is 1.3545.
  • #38,189
  • Oct 8, 2008 3:27pm Oct 8, 2008 3:27pm
Quoting Kyen
Absolutely. it just broke the resistance line on the 15 min chart, next support price to be tested is 1.3545.
I dont see it as quite broken yet. it's sitting on it, yes. but not completely broken.
  • #38,190
  • Oct 8, 2008 3:29pm Oct 8, 2008 3:29pm
Quoting kasper
I dont see it as quite broken yet. it's sitting on it, yes. but not completely broken.
good point
  • #38,191
  • Oct 8, 2008 3:30pm Oct 8, 2008 3:30pm
this is the defining candle i think
  • #38,192
  • Oct 8, 2008 3:31pm Oct 8, 2008 3:31pm
Quoting kasper
I dont see it as quite broken yet. it's sitting on it, yes. but not completely broken.
I know what you mean Kasper - however you need to keep your eyes on EURJPY and USDJPY movements for they have similar correlations. EURJPY broke past its support, and as I type, so has EURUSD
  • #38,193
  • Oct 8, 2008 3:32pm Oct 8, 2008 3:32pm
Quoting Kyen
I know what you mean Kasper - however you need to keep your eyes on EURJPY and USDJPY movements for they have similar correlations. EURJPY broke past its support, and as I type, so has EURUSD
there it goes
  • #38,194
  • Oct 8, 2008 3:39pm Oct 8, 2008 3:39pm
still holding on to its support on the 30 min. and yes I see that USDJPY has crashed its support on the 15M


alrighty. been riding the line for the last 45 minutes or so. what say ye, crash? or bounce?
  • #38,195
  • Oct 8, 2008 3:57pm Oct 8, 2008 3:57pm
Quoting nedal26
any chance to see 1.3545 or shoulsd close it at any near point?
Depends on your time frame. We should see the 1.3600-10 area at least when we hit the bottom of the 15 min channel we are presently in. If it breaks that line, then we should retest the low. If not, back up to try 1.3750 again. I believe we will retest the low by the end of this week, but that is just a guess. If you are nervous abuot your position, look to close at the bottom of the channel for 60 pip loss.
  • #38,196
  • Oct 8, 2008 3:58pm Oct 8, 2008 3:58pm
Quoting Epipany
there it goes
okay, now it's done. let the freefall begin.
  • #38,197
  • Oct 8, 2008 4:01pm Oct 8, 2008 4:01pm
Quoting kasper
okay, now it's done. let the freefall begin.
Kasper, keep an close eye on it, its in a technical consolidation period right now and is a great time to scalp. Set tight stops and protect whatever profit you can get, lets enjoy some good short profits Cheers.
  • #38,198
  • Oct 8, 2008 4:02pm Oct 8, 2008 4:02pm
looking for yen in all the wrong places
Attached Image
FUBAR...
  • #38,199
  • Oct 8, 2008 4:04pm Oct 8, 2008 4:04pm
Quoting Kyen
Kasper, keep an close eye on it, its in a technical consolidation period right now and is a great time to scalp. Set tight stops and protect whatever profit you can get, lets enjoy some good short profits Cheers.
easier said than done. holding on to a couple of longs. going to close them out and call it a day. attempting to scalp now would just further deplete my account.
  • #38,200
  • Oct 8, 2008 4:04pm Oct 8, 2008 4:04pm
so if we are short now where would we get out of this and wow what about a good SL????
T.S.
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