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  • #40,141
  • Oct 20, 2008 6:42am Oct 20, 2008 6:42am
Quoting emda
I'm with you... still have my SL intact at BE at 1.3381 since Thursday but I'm suffering LOL
currency market is just as volatile as stock market...futures in the plus this morning...lets see how it plays out...so far my guts have been right haha about the nonsense bull rally..this expected bear rally...now lets see if the real bull rally occurs
Different opinions highly valued, ignorant to slander.
  • #40,142
  • Oct 20, 2008 6:52am Oct 20, 2008 6:52am
Quoting psiholog
..alarms did their job...took that nice 100pipper profit....gap filling complete...retest of the triangle complete...now i am long looking for 1.36...its time

maybe shouldnt talk before cofee...or enter position haha...too late for both!
Looking for 1.36 to go short SL will be 1.3770...
  • #40,143
  • Oct 20, 2008 7:00am Oct 20, 2008 7:00am
Quoting nedal26
Looking for 1.36 to go short SL will be 1.3770...
if we reach 1.36 i think 1.38 is well within range..even 1.4000...just check out price action for the past 3 weeks...im not saying dont do what you intend to do i think its great you have a plan...all im saying is make sure all the right reasons are there

i am actually curious..what are your reasons?
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  • #40,144
  • Oct 20, 2008 7:01am Oct 20, 2008 7:01am
Still Range Trade. I do not trade for now.
I would Buy EUR/USD near 1.3353, and Sell USD/CHF near 1.1487
{Promotion Removed}
  • #40,145
  • Oct 20, 2008 7:11am Oct 20, 2008 7:11am
Quoting psiholog
if we reach 1.36 i think 1.38 is well within range..even 1.4000...just check out price action for the past 3 weeks...im not saying dont do what you intend to do i think its great you have a plan...all im saying is make sure all the right reasons are there

i am actually curious..what are your reasons?

i still believe that all what we see is retrac and last three week tell us the same ... and we should retest YTD low again...
  • #40,146
  • Oct 20, 2008 7:15am Oct 20, 2008 7:15am
Quoting nedal26
i still believe that all what we see is retrac and last three week tell us the same ... and we should retest YTD low again...
i agree 100% all were seeying is a retrace...i am on board with the idea that many have pointed out...dollar strength for years to come...what im curious about though is how do you figure retrace now will be to 1.36 and not 1.38 or 1.4000 or even different values...thats what im curious about
Different opinions highly valued, ignorant to slander.
  • #40,147
  • Oct 20, 2008 7:25am Oct 20, 2008 7:25am
someon had mentioned about the futures market and I wanted to do some researching on this....based on this bloomberg data on futures what can we conclude from the positives numbers

http://www.bloomberg.com/markets/stocks/futures.html
DM if you have any questions
  • #40,148
  • Oct 20, 2008 7:33am Oct 20, 2008 7:33am
Quoting jkrick33
someon had mentioned about the futures market and I wanted to do some researching on this....based on this bloomberg data on futures what can we conclude from the positives numbers

http://www.bloomberg.com/markets/stocks/futures.html
ill tell you what happened last week...best way to represent the correlation. last monday stock market was up ...dow almost 1000points(dead cat bounce) if i remember correctly. that day is represented in eur/usd by the bull candlestick with the big spike down. the following 2 days the stock market gave alot of it back...tuesday and wednesday as you can see on daily candlesticks were the strongest dollar rally days last week...wednesday massive...after which...there wasnt much change in either stock market or currencies...even though the volatility was there as we saw so well on friday..up down up down in a tight range with no breakout until today (futures up..not too surprising) . so in theory if the dow goes up alot today...so should eur/usd. bernanke talks in an hour and a half...all is up in the air right now...donno too much about fundies but like ak4x mentioned libor is getting better...we should read that post by him
hope this helps
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  • #40,149
  • Oct 20, 2008 7:38am Oct 20, 2008 7:38am
Quoting psiholog
i agree 100% all were seeying is a retrace...i am on board with the idea that many have pointed out...dollar strength for years to come...what im curious about though is how do you figure retrace now will be to 1.36 and not 1.38 or 1.4000 or even different values...thats what im curious about

not figure it... just make comment on ur target that if we move up there it`s would good chance for me to short it..

there is good strong resistance line around 1.3540/1.3550.. here is M15 chart looking to hear ur comment?
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  • #40,150
  • Oct 20, 2008 7:42am Oct 20, 2008 7:42am
I went long @ .3423 I'm looking for TP above .3520 What do you think. WIll it hit 1.3500 today?
Mike
  • #40,151
  • Oct 20, 2008 7:58am Oct 20, 2008 7:58am
Quoting nedal26
not figure it... just make comment on ur target that if we move up there it`s would good chance for me to short it..

there is good strong resistance line around 1.3540/1.3550.. here is M15 chart looking to hear ur comment?
i hope everyone understands when i say my targets its only to meet my daily 150 pip goal...that does not mean the end of the road is there.

the way i see things is as represented by this hourly chart which shows most of the action since we dropped below 1.38. i agree there is strong resistance in the 1.3520/50 area as shown by action on thursday/friday. if that area is broken we move to next resistance which i think is represented by connecting the spikes below the almost (double top)...the reason i do this is because at the time i thought this pattern weve seen the past 3 weeks would turn into an inverted h&s(was not the case....but still looks like a strong temporary resistance). after that....connecting the 2 highest spikes which is almost like a double top represents resistance. if we break that...who knows how high we go.

conclusion: in general for my trading decisions i try to plan just one or two steps ahead...trying to do more...well too much action for one day (unless its last wednesday) and i leave that to the long term traders haha...i am a liberal scalper

and we can always break to the downside as the chart shows...with no real retrace
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Different opinions highly valued, ignorant to slander.
  • #40,152
  • Oct 20, 2008 8:11am Oct 20, 2008 8:11am
At this time I am only Follow my H4 chart.
Actual H4 will close next hour, and next one will be the most important to follow.
Today is the day to break that boring channel.
I will be more happy if I see actual H4 close above 1.3437, then next one may only do a low of 1.3408 and if close above 1.3467 I will be bullish for next two days.
I hope so, I have long trades open.
If price close the actual H4 below 1.3425, and next one start to drop below 1.3390.
But all this can will be messed up, because Mr.Bernanke will open his mouth!
  • #40,153
  • Oct 20, 2008 8:20am Oct 20, 2008 8:20am
I've LONG since 1.3430 ))) I hope EURUSD 'll go UP!
  • #40,154
  • Oct 20, 2008 8:28am Oct 20, 2008 8:28am
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Money often costs too much...
  • #40,155
  • Oct 20, 2008 8:30am Oct 20, 2008 8:30am
It seems anything is possible going forward.

I am focusing on earned wages today
  • #40,156
  • Oct 20, 2008 8:33am Oct 20, 2008 8:33am
Too bad!
I am hedging now, I am going to pray right now!
  • #40,157
  • Oct 20, 2008 8:35am Oct 20, 2008 8:35am
Difficult situation...
  • #40,158
  • Oct 20, 2008 8:39am Oct 20, 2008 8:39am
don't worry it will go up now because it's already near bottom
ROBOT FOREX
  • #40,159
  • Oct 20, 2008 8:40am Oct 20, 2008 8:40am
Quoting BoredToLoose
Too bad!
I am hedging now, I am going to pray right now!
this felt like a manipulated move to take in profits...still long that is after getting stopped out and reentering at 1.3348...still 1.3600 in sight....if im wrong this time...boo hah
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  • #40,160
  • Oct 20, 2008 8:42am Oct 20, 2008 8:42am
But i also reduced my loss with one short ...total loss -17 pips

Lets see if we can make 50 pips when it reach 3300 ....its hanging on 3350...but not not too long...major resistance is broken...we are down ..and we know it from the begining...but we just keep fooling our self its going up

Hope all benifit from this drop
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