EURUSD

one final post...magic time....shoulderline tapped...ding ding ding...ring in those shorts...tight stop loss of course just in case this is not h&s

You can (and I can too) find the facts to back up whatever opinions we have. But you do know that yesterday (Wednesday) the US dollar had one of the biggest drops in its history. Was that manipulation?

But the biggest factor in this whole credit crunch affecting the dollar is the carry trades being unwound. Yen strengthening like the proverbial 800-pound gorilla, which they are not happy with - kills exports. Hedge funds closing out trades. Money flows going every which way. The dollar is benefiting in the end. With all the money the fed is printing and giving out these days there is no way the could hold up this house of cards if it wasn't for the fact the market in the form of all this unwinding wasn't driven funds to be converted into dollars.

Once this process is complete the dollar will revert to its old form and most likely depreciate.

Ok, but you left out the who and the why, not to mention where the "devious" comes into play...

I just heard a blurb that says as of today, the entire stock markets of India and China could be bought by the market cap of Volkswagen... Maybe the ghost of old Ferdinand (Porsche) himself is behind all this from beyond the grave...

Seriously, if you honestly believe it's genuine manipulation, according to the standard and accepted definitions of the word, unless one has an "in" with the manipulators, then that would make one the manipulatee. Why would one rage against THAT machine...?

If nations, CB's and other big players really are coming together to collectively save their a$$es, and by inference, any part of the markets and financial infrastructure that make it possible for all the current regional, national, and global economies to function, then how's that devious? The alternative is what... we're all somehow better off?

I'm just saying that one's outlook and perspective tend to drive one's decisions. Manipulation by any BIG DOG = "Probably bad for me." Me understanding the nature of and likely drivers behind the Volatility = "I have a chance" and that's all I can expect...

Like I said, trade what you see...

If you're just wanting to redefine the word, then of course it's hard to have certain kinds of conversations... I'll leave it at that.

PS. Short from the 1hr Gann taps on GY/EJ... a'rd 120 pips atm...

you are one of the major reasons why i love this thread. non violent debate and conversation about what is affecting currencies and their movement is what this thread is all about. you are correct in your interpretation. i feel i am correct in mine. maybe someday in the distant future when the world looks back on today we will find out what this whole period really was. save their asses...global economies to function...i fully agree with this...its necessary to keep the world alive as you so clearly say through the who and why. the part that im reffering to is the HOW this is all being done..thats what i interpret as manipulation. i mean lets think about this logically....eur/usd went up 1000 pips this week. chances are we will give them all back by friday close with current pa and possibly more. this is extremely volatility yes as you say...great way to make money if you know what your doing. but if this was a nonmanipulated market for the who and the why reasons you gave...dont you think these extreme swings up and down would be more in the range of possibly 200-300pips max per day?

regarding the h&s mentioned...im 65% sure now this is what it is....extreme resistance at the neckline(shoulderline oops)...a tap of the upper wall of the current downtrend and no break...resistance1 is right there as well....3 bull candles as close as it gets to 3white soldiers (1hr chart) if you forget about the spikes which is usually followed by one big bear candle down....this fits the profile allright...if you want to be safe though consider entry when neckline is broken as that serves as double confirmation and there still will be hundreds of pips from that point down

Aside from all the simple old fashioned greedy capitalist motivated people lile all of us here, I'd say try thinking of it in terms of "musical chairs"... Very simple goal... make sure you have a seat when the music stops.

In a panic you just want to be the one out the door first. Thinking and planning need not apply. Get behind the 800 pound gorilla and follow him.

Gotta take off.

DOW might drop again during the last 10 min before closing therefore might help the H&S

EUR/USD came exactly to our Entry Short, no one pip lower no one pip higher. It's nice when market listen to you what you talking about.
Take 1/4 profit for 80 pips and move Stops for 25 pips profit.

Put Stops to all other pair ENTRIES, and let it go.
Do not loose no one pip, when money flows like water.

http://www.forextradersdaily.com/for...c/progress.gif

Guys long time no hear and I hope you are having fun with the pair this week as I am, because this week is one of the easiest weeks to trade in my recent memory, especially yesterday and today.

Here is the chart I used to trade and still will untill we see break out on either of sides.

http://img151.imageshack.us/img151/8753/chartzt9.th.jpg

I guess I'm old... 41.

Yeah... I'm old.

"wicked smart" came from one of Matt Damon's best films. GWH

The Bourne series was the best... and the last one was wicked cool.

Interestingly enough, that 2992 number was the 38.2 Fib on run back up to today's high from recent downspot, 2805. Other fibs, relevant to the 3297 drop back to 2329 are: 1.2927 (38.2%), 1.2813 (50%), and 1.2699 (61.8%).

gwh was the best

in my opinion as long as this hourly trend is not broken ,i wont go any short position .. one must fear a trend that yielded 930 pips.. price currently above 200 sma and supported at 55 sma.. the trend is friend until is broken

Been short all day and will be short until this trendline is broken. +275 as this is written.

J

entered 3213 and was stopped out with trail at 2960. Re-entered at 2926 with stop just above the triple 000 at 1.3000. Will remain until breaks DTL long.

Good Evening All! Scalper's heaven today. Couldn't ask for a better environment to trade in. Hope everyone's is keeping on the plus side of their blotter. I've been reading quite a bit of this forum in between placing trades and a few things have struck me as being kind of peculiar.

There seems to be an awful lot of theorizing and speculating about what this, that or the other implies for the direction of the market. What's the point? Other than as an intellectual exercise (which is all well and good, especially if one is bored), what really is the point? No amount of theorizing about what Trichet's last sneeze or Bernanke's last cough means is going to do anything for you as far as placing your next trade. I'm sure you all have heard the term "paralysis by analysis". In my opinion this is one of the greatest dangers a trader can allow him or herself to fall into. Put up a chart with the timeframe you are most comfortable trading. Put on that chart whatever tools you have determined to be the best ones for you to help you make a trading decision, and trade the bloody thing. The chart will tell you everything you need to know (unless of course you are a very long term trader, in which case fundamentals may come into play in your decision making process). And this brings me to my second point.

I've noticed some of you are posting charts (say 1 minute or 5 minute), but showing on those charts 15, 30, 60 or even daily based indicators. Why for heaven's sake are you doing that? What's the point. Get it clear in your own mind what kind of trader you are going to be and use the appropriate timeframe to make that happen. If you are going to scalp 1 minute charts, don't put longer time frame indicators on that chart. They will do NOTHING for you except confuse the heck out of you and put you right in that "paralysis by analysis" mode. If you're a scalper, scalp. If you're a medium term trader, trade the medium term, etc. Don't mix thing up, because all that'll happen is YOU will get mixed up.

Third point. I've noticed many charts contain an overabunadance of indicators. Now, I'm not going to preach the pros/cons about indicators. Everyone uses the tools they feel are most appropriate for them in making trading decisions. Nothing wrong with that. But what is the point of having a zillion indicators on a chart all of which are telling you the same thing? Case in point - I saw a chart with Stochastics (and not just one, but three different ones), a RSI, a Williams %R, and an MACD. Good lord, there were so many indicators, one could barely see the price bars. What in heaven's name is the point? IF you are going to use an indicator, pick one, learn it inside out, and use only that one. Otherwise, guess what -- more "paralysis by analysis."

Yes, I am bored. Its 1700, and the market has slowed, and I need to practice my typing skills, so blather on I go. But seriously, think about these things, especially those of you who are new to this. Trading is NOT complicated. Why make it so? Simplify your charts, clear your head of extraneous things that have absolutely NOTHING to do with the success of your next trade, and you'll be much better off -- I guarantee it.

Good trading...

Huh??

if it get broken ... well i'll ride it.. its better soon .. i'm sideline

This pin can not be ignored.

I like your attitude. I guess it is because I like to keep things simple also. I am also of the camp that says fundamentals are not quite so important. To show this, a couple of weeks ago I decided to try a few days with no distractions - no news, no Bloomberg channel, no forum, etc. and just trade the charts. I did about the same as usual, which tells me I didn't really need all that other stuff. I still refer to the "other stuff" but now it isn't drawing away as much of my attention.

It is interesting to hear your comments on multiple timeframes for trading. Heck, I've been taught you MUST have a couple of longer timeframes beyond the one you are trading so you can see the "big picture". I thought they have helped but have they? Maybe it's time for another experiment, where I only trade one chart for a couple days.

I am still settling on indicators but eliminated a few a couple weeks ago when I figured out that there was no way I could effectively use all the ones I had. So I'm still going through a period of refinement, seeking that all-elusive simplicity while still learning the ropes at the same time.

I appreciate you sharing your thoughts.