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EURUSD

  • #41,981
  • Oct 27, 2008 1:01pm Oct 27, 2008 1:01pm
Quoting SunTrader
omg, omg. Step away from the open window and put down the toe-nail clipper. Everything will be okay.
loooooooooooooooooool
I have not failed. I've just found 10,000 ways that won't work -
  • #41,982
  • Oct 27, 2008 1:05pm Oct 27, 2008 1:05pm
EURUSD holding up in light of the tankage of equities. Not sure I have the balls to stick this out much longer.

WTF to do...
  • #41,983
  • Oct 27, 2008 1:08pm Oct 27, 2008 1:08pm
Quoting TIckerShuffl
EURUSD holding up in light of the tankage of equities. Not sure I have the balls to stick this out much longer.

WTF to do...

not sure what to do either. am suspecting a false breakout. its the last hour of the western trade , there is no way, there would be a breakout that fast. it should shoot back up in no time.
I have not failed. I've just found 10,000 ways that won't work -
  • #41,984
  • Oct 27, 2008 1:17pm Oct 27, 2008 1:17pm
Quoting PrisonPlanet
not sure what to do either. am suspecting a false breakout. its the last hour of the western trade , there is no way, there would be a breakout that fast. it should shoot back up in no time.

WTF?? guys any idea
I have not failed. I've just found 10,000 ways that won't work -
  • #41,985
  • Oct 27, 2008 1:19pm Oct 27, 2008 1:19pm
Quoting PrisonPlanet
I will by reading your posts.
That was the only trade I took today 2.5 hours ago, I missed the buttom earlier.
Why the trade? PA almost hit the 60EMA line, a small divergence seen as well and a bounce back from the 80 level. TP as seen in the pic.
Happy trading
Attached Image
  • #41,986
  • Oct 27, 2008 1:19pm Oct 27, 2008 1:19pm
I closed short for -40 but made it back on GBPUSD
  • #41,987
  • Oct 27, 2008 1:20pm Oct 27, 2008 1:20pm
What is going on to start this?

So, by all accounts it will "bounce back", but how does anyone trade in this environment?
Attached Image (click to enlarge)
Click to Enlarge Name: 27102008_2019.gif Size: 15 KB
  • #41,988
  • Oct 27, 2008 1:21pm Oct 27, 2008 1:21pm
Quoting PrisonPlanet
WTF?? guys any idea
Even Algirdas is at a loss for how to trade today.
  • #41,989
  • Oct 27, 2008 1:21pm Oct 27, 2008 1:21pm
I dont think its possible to have a breakout in this hour of time! the bg player are selling to breach the s/l point and then boost this pair up.. am crossing fingers
I have not failed. I've just found 10,000 ways that won't work -
  • #41,990
  • Oct 27, 2008 1:26pm Oct 27, 2008 1:26pm
I dont trade against trend, there are plenty of shorting possibilities. I guess that Asia session will take this pair down.
They think they are smarter than I am.
  • #41,991
  • Oct 27, 2008 1:28pm Oct 27, 2008 1:28pm
its 5:30 am in japan. this is merely a false breakout
I have not failed. I've just found 10,000 ways that won't work -
  • #41,992
  • Oct 27, 2008 1:28pm Oct 27, 2008 1:28pm
Quoting Z3iz3i
I dont trade against trend, there are plenty of shorting possibilities. I guess that Asia session will take this pair down.
Lower than the 1.2491 it just bounced off?
  • #41,993
  • Oct 27, 2008 1:34pm Oct 27, 2008 1:34pm
Quoting eddiemiller
Lower than the 1.2491 it just bounced off?
Sure. My lowest short is at 1.2455 but i am used to see some swings so i dont close my trades if i am down 100-150 pips when its obvious where this pair is trending.
They think they are smarter than I am.
  • #41,994
  • Oct 27, 2008 1:42pm Oct 27, 2008 1:42pm
Until FED rate cut.

TP 1.2860 for now...
  • #41,995
  • Oct 27, 2008 1:43pm Oct 27, 2008 1:43pm
Quoting Z3iz3i
I dont trade against trend, there are plenty of shorting possibilities. I guess that Asia session will take this pair down.
I think the eur/usd is oversold but the pressure is to big so Asia session will breake it down to because they don`t want to lose...
  • #41,996
  • Oct 27, 2008 1:48pm Oct 27, 2008 1:48pm
Quoting scuturici
I think the eur/usd is oversold but the pressure is to big so Asia session will breake it down to because they don`t want to lose...
They don't want to lose?

who?

Japan is likely to offer up some policies to address currency situation if there is not some change in the action. And most EURUSD selling is a result of liquidation of carry trades then being piled into US treasuries, per recent articles posted and general consensus.
  • #41,997
  • Oct 27, 2008 2:01pm Oct 27, 2008 2:01pm
Here is an interesting article about euro bank exposure to the emerging markets. This might have a big effect on euro if the risks realize.

Just read the article if you are into fundies, it's a very important part of the puzzle.

http://www.telegraph.co.uk/finance/c...-meltdown.html
  • #41,998
  • Oct 27, 2008 2:04pm Oct 27, 2008 2:04pm
Quoting PrisonPlanet
this is merely a false breakout...
When you say breakout... are you referring to the drop or waiting for a climb back up?? The drop looked like typical "end of day" action to me, which is why I shorted it from the MA hits on the way down, along with the mom turning down and the 5m QQE crossed down. The Eu trade doesn't have a chart, but i usually mirror my EJ trades on EU, just for less pips, in this case the figure at 1.2500.

The 2 charts below show the entries and TP's. The purple line is the entry just above the 5m MA's. The TP in this case was the 89sma (pink) and 133ema (cyan). Not knowing how much power would be in the drop, I chose those targets vs, the 200sma (black) which would have yielded MANY more pips, but that's a different style for me as I just posted previously, and I'm in scalp mode right now until clearer direction emerges.
Attached Image
FUBAR...
  • #41,999
  • Oct 27, 2008 2:08pm Oct 27, 2008 2:08pm
Quoting TradeWell
Even Algirdas is at a loss for how to trade today.
That's what scalp mode is for.
FUBAR...
  • #42,000
  • Oct 27, 2008 2:16pm Oct 27, 2008 2:16pm
Already going down.....
They think they are smarter than I am.
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