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EURUSD

  • #38,681
  • Oct 10, 2008 3:40am Oct 10, 2008 3:40am
Again euro downwards has gone, and promised 1.3800 ((
  • #38,682
  • Oct 10, 2008 3:48am Oct 10, 2008 3:48am
the forex gods favor me tonight. this retest of the upwards channel we just broke out of created the perfect sell opportunity again. this should be another easy 50pips....


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Different opinions highly valued, ignorant to slander.
  • #38,683
  • Oct 10, 2008 4:13am Oct 10, 2008 4:13am
This new age napoleon is biting off more than he can chew, he wants his Euro to be better than the Dollar, he caused the raise in Crude by devaluating the USD, not giving a crap what he was doing to the world economy,
This Megalomaniac should satisfy his ego somewhere he will not do any harm.

USD should raise Eur and GBP should lower
the problem is the balance between Europe and the USA, this is a Econ Cold War
  • #38,684
  • Oct 10, 2008 4:29am Oct 10, 2008 4:29am
Quoting samsamsam
This new age napoleon is biting off more than he can chew, he wants his Euro to be better than the Dollar, he caused the raise in Crude by devaluating the USD, not giving a crap what he was doing to the world economy,
This Megalomaniac should satisfy his ego somewhere he will not do any harm.

USD should raise Eur and GBP should lower
the problem is the balance between Europe and the USA, this is a Econ Cold War
interesting opinion..... care to develop ? is trichet's fault? this huge crisis ?
  • #38,685
  • Oct 10, 2008 4:30am Oct 10, 2008 4:30am
Quoting psiholog
the forex gods favor me tonight. this retest of the upwards channel we just broke out of created the perfect sell opportunity again. this should be another easy 50pips....


Attachment
Mr.psiholog

Thanks for your postings. It seems that you trade every movementam/ candle. I am learning a lot from your postings. KEEP IT UP. Thanks.
  • #38,686
  • Oct 10, 2008 4:48am Oct 10, 2008 4:48am
Quoting psiholog
the forex gods favor me tonight. this retest of the upwards channel we just broke out of created the perfect sell opportunity again. this should be another easy 50pips....


Attachment
240pips-50=190 left
i have changed entry point to 1.3555 as that has acted as strong support for the whole week when it was reached. if it does not get tapped i will enter on breakout
profit taking i have two options
1)let the position run until 1.3800 is reached as that would satisfy my pip need
2)exit based on how the new channel(uptrend) will develop and when it looks like it will break back down

if i get stopped out...no worries...it just means we will make a new low today which creates plenty of other opportunities

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  • #38,687
  • Oct 10, 2008 4:52am Oct 10, 2008 4:52am
Quoting qwe
I am thinking not to be greedy and put TP @ 565 or smth...
COngrat .. you got your pips
  • #38,688
  • Oct 10, 2008 4:55am Oct 10, 2008 4:55am
Quoting werlincorp
COngrat .. you got your pips
Thnks mate! I hope You will soon reach yours too.

Atm thinking about bouncing up as psiholog said....
  • #38,689
  • Oct 10, 2008 5:04am Oct 10, 2008 5:04am
Quoting Jay Walker
The man in charge? What the...?
i am 22 years old. i am a young adult and act like one. this is visible in my normal trades as i am careless many times. tonight however anger has led to waking up the man within me with high expectations of me. that means no losing week. i was 380 pips down. he will not be satisfied until mission is accomplished at which point the young adult comes back to life. losing weeks is a thing of the past and this will not be one of them. even if it means just 1 pip above even.
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  • #38,690
  • Oct 10, 2008 5:16am Oct 10, 2008 5:16am
Quoting Venu fx
Mr.psiholog

Thanks for your postings. It seems that you trade every movementam/ candle. I am learning a lot from your postings. KEEP IT UP. Thanks.
i dont normally do that. my usual goal is 150 pips per day. this week is special circumstances

my anger has made me conceited.

still i am glad to be of help...just make sure you do not follow my decisions blindly and only use what i do as a second opinion
Different opinions highly valued, ignorant to slander.
  • #38,691
  • Oct 10, 2008 5:23am Oct 10, 2008 5:23am
Quoting psiholog
i am 22 years old. i am a young adult and act like one. this is visible in my normal trades as i am careless many times. tonight however anger has led to waking up the man within me with high expectations of me. that means no losing week. i was 380 pips down. he will not be satisfied until mission is accomplished at which point the young adult comes back to life. losing weeks is a thing of the past and this will not be one of them. even if it means just 1 pip above even.
As long as your anger develops into tightening and straightening your discipline and sticking closely to your trading plan, as long as dissatisfaction makes you care more about the details of each entry and exit, you should be ok.

Be careful of "revenge trading", though.
http://ezinearticles.com/?Stock-Pick...ding&id=513441
  • #38,692
  • Edited 5:47am Oct 10, 2008 5:33am | Edited 5:47am
Just want to remind that this is something you want to follow during today and monday

Today: Auction to settle Lehmans credit default swaps
Monday: Auction to settle swaps on Fannie Mae and Freddie Mac

http://www.reuters.com/article/rbssF...41811720081008

Total cost: Lehman might be as high as $350 billion, I don't find any estimate on fannie and freddie

http://www.fool.com/investing/divide...lion-hole.aspx
  • #38,693
  • Oct 10, 2008 5:37am Oct 10, 2008 5:37am
http://2.bp.blogspot.com/_nmIuQsC9b-...USD%2BSpot.png

Now take 1/2 profit for 100 pips and move Stops to ENTRY or for some Profit
{Promotion Removed}
  • #38,694
  • Oct 10, 2008 5:39am Oct 10, 2008 5:39am
As I was saying earlier this morning:
http://www.forexfactory.com/showpost...ostcount=38677
A final solid confirmation should be an hourly close below 35 I guess (could still turn out as a double bottom here), target should be below 33.
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  • #38,695
  • Oct 10, 2008 6:03am Oct 10, 2008 6:03am
Quoting psiholog
290-50= 240 still needed
now a retest of the wall is my entry point at 1.3565 as that value is also 61.8% fib retracement for this entire move up.i may enter on break of current downtrend as well if limit order not reached. profit taking will be at current high as that marks full retracement of the continuation with target range 1.3645/95 depending on how the new channel develops at which point i will short with possible target of 1.3615

Attachment

duplicate your black trendline that hit 1.3650 and bring it down below current price.
  • #38,696
  • Oct 10, 2008 6:16am Oct 10, 2008 6:16am
Quoting schandi
duplicate your black trendline that hit 1.3650 and bring it down below current price.
interesting observation...i missed that..thanks. in other words that area is a congestion point of 3 separate strong support lines intersecting.


there is one other thing i would like to mention. my analysis was not wrong...yet

in a strong downtrend channel...it is common to see the last spike push out of the channel before reversal occurs. call it loading up long positions or stop hunting or whatever....it does occur especially at congestion points such as this particular case. what i should have done is wait and see how that 15min candlestick close instead of rely on fibs(they aren't always useful)

thankfully the forex gods favor me tonight and my stop loss was not reached (both of them)...now it should be a smooth ride to much higher levels if that upper wall is broken...or possibly just stick between the wall you mentioned and the wall you saw on my chart
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  • #38,697
  • Oct 10, 2008 6:16am Oct 10, 2008 6:16am
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oops heres chart
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  • #38,698
  • Oct 10, 2008 7:02am Oct 10, 2008 7:02am
there is one other chart worth taking into consideration in my opinion.
the weekly chart has shown the clear downtrend channel we have been in since the highs at 1.6. while i cannot correctly say what doji value is (ibfx opened one hour after market open at 1.3649)....a doji or small bear/bull volume seems very possible...even 1.38 still. but for it to go much lower now even make a new low...that would mean breaking this weekly trend which i highly doubt will happen

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  • #38,699
  • Oct 10, 2008 7:06am Oct 10, 2008 7:06am
Quoting samsamsam
It's Trichets fault
This new age napoleon is biting off more than he can chew, he wants his Euro to be better than the Dollar, he caused the raise in Crude by devaluating the USD, not giving a crap what he was doing to the world economy,
This Megalomaniac should satisfy his ego somewhere he will not do any harm.

USD should raise Eur and GBP should lower
the problem is the balance between Europe and the USA, this is a Econ Cold War
All this is Trichet’s fault?

Man, are you completely blind? Didn’t you notice that about 70% of the economic news from the zone are good ones ( look only the today news for an example) but doesn’t matter the EUR went down?

He was one of the reasons that brought the EUR where it’s now because he didn’t want a strong EUR.
Do you really think that there is fundamental base that the USD should raise with all that economic mess without solution, the country with the highest depths around the world?
I am German and hope that the $ goes up a lot more, a stronger $ makes the EU zone economy stronger, every day. We don’t have gold, oil, copper and that stuff, what we sell is technology and tourism.


Easy to give the fault of the US mess to someone else, isn’t it?
  • #38,700
  • Oct 10, 2008 7:09am Oct 10, 2008 7:09am
Quoting cobraforex
All this is Trichet’s fault?

Man, are you completely blind? Didn’t you notice that about 70% of the economic news from the zone are good ones ( look only the today news for an example) but doesn’t matter the EUR went down?

He was one of the reasons that brought the EUR where it’s now because he didn’t want a strong EUR.
Do you really think that there is fundamental base that the USD should raise with all that economic mess without solution, the country with the highest depths around the world?
I am German and hope that the $ goes up a lot more, a stronger $ makes the EU zone economy stronger, every day. We don’t have gold, oil, copper and that stuff, what we sell is technology and tourism.


Easy to give the fault of the US mess to someone else, isn’t it?
you can put me on the waiting list for some really nice car someday
Different opinions highly valued, ignorant to slander.
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