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EURUSD

  • #42,781
  • Oct 30, 2008 11:57pm Oct 30, 2008 11:57pm
All my MA's came together on my 5m EJ chart, and now I can't see my candles...
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FUBAR...
  • #42,782
  • Oct 31, 2008 12:00am Oct 31, 2008 12:00am
am i seeing this right? the rate went UP from estimate to .30???

throw me a lifesaver... i'm drowning in pips
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FUBAR...
  • #42,783
  • Oct 31, 2008 12:01am Oct 31, 2008 12:01am
wtf just happened? 80 pips in 2 minutes in off peak hours?
  • #42,784
  • Oct 31, 2008 12:05am Oct 31, 2008 12:05am
yep the h&s i saw is intact and just now the big move down is getting underway with the rate cut news out. not as much as they expected yet another classic example of buy the rumor sell the news. on top of that...my neckline (orange line) did act as resistance once broken..quite amusing...now once we get through this right after the news volatility (30pip spread..jeez)...here comes 61.8% or lower...

Note that i am merely speculating as thats the best anyone can do in times of news...i am not trading and my opinion should only be glanced at not taken for granted
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Different opinions highly valued, ignorant to slander.
  • #42,785
  • Oct 31, 2008 12:07am Oct 31, 2008 12:07am
Quoting ak4x
Hey, I just saw someone called chicky called you \"Dear Jay...\" What's that about??

I'd like to have his (cramer) sound effect machine tho. Be a lot more fun that these ridiculous smiley things. I hate smiley things, Cuz I use 'em doesn't mean I like 'em.

Couple of years ago, old felix \"banned from everywhere\" homogratis (what kind of name has homo in it anyway?) had a chat style trading room setup with sound effects. honest. it was hilarious. bunch of semi-grownups sittin a'rd honkin cyber horns, bomb explosions, and fart noises at each other all night. noone could trade for the racket.

ahhh... those were the days
We call my boss "Dear Leader" so I don't see the love thing the way Americans do.

The only soudbite Cramer is worthy of http://www.freesound.org/samplesViewSingle.php?id=20736

Felix Homo Gratis AKA forexbastard AKA forexpeacearmy AKA forex "goatse" (OK, I made the last one up)? It must have been a hoot back then but too bad he's a douchebag.

Can we talk Twee into having soudbites here?
Not all sins are created equal
  • #42,786
  • Oct 31, 2008 12:12am Oct 31, 2008 12:12am
I love to trade news on micro lots, those lessons could not be found in any book... Such a crazy spread and volatility in these after (or preopen) hours. If there was no rate announcment, this chart would look to me as one ordinary stop loss hunt...I am out with 60 pips tonight, exit at 1,2841 at start of this volatility mess. Well, good night friends!
  • #42,787
  • Oct 31, 2008 12:13am Oct 31, 2008 12:13am
How do you guys feel about EUR movement after news?
  • #42,788
  • Oct 31, 2008 12:13am Oct 31, 2008 12:13am
Quoting permanentjaun
wtf just happened? 80 pips in 2 minutes in off peak hours?
i thought it is my laptop

that's totally crazy
  • #42,789
  • Oct 31, 2008 12:17am Oct 31, 2008 12:17am
Quoting Kyen
How do you guys feel about EUR movement after news?
well it didnt go higher...rate cut is "supposed" to weaken a currency in this case the yen which means usd/jpy goes up which correlates to eur/usd going up so if you take away the last 20minutes its like nothing happened yet...its still anyones guess...im still saying down down there is gravity...
Different opinions highly valued, ignorant to slander.
  • #42,790
  • Oct 31, 2008 12:17am Oct 31, 2008 12:17am
Quoting StefanoProdi
I love to trade news on micro lots, those lessons could not be found in any book... Such a crazy spread and volatility in these after (or preopen) hours. If there was no rate announcment, this chart would look to me as one ordinary stop loss hunt...I am out with 60 pips tonight, exit at 1,2841 at start of this volatility mess. Well, good night friends!
You're doing exactly what I have been and still am doing. It happens so don't worry about the loss. Keep it up.
Not all sins are created equal
  • #42,791
  • Oct 31, 2008 12:19am Oct 31, 2008 12:19am
Quoting Jay Walker
We call my boss \\"Dear Leader\\"...

The only soudbite Cramer is worthy of http://www.freesound.org/samplesViewSingle.php?id=20736
I know that, and you'll probably get all insufferable on us now that somone called Chicky has got you mixed up with the boss.

The soundbite was great. I think i'll stick it into my alerts for when my SL gets hit...

Meanwhile back at the ranch, I found my candles..
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FUBAR...
  • #42,792
  • Oct 31, 2008 12:19am Oct 31, 2008 12:19am
Quoting psiholog
well it didnt go higher...rate cut is \"supposed\" to weaken a currency in this case the yen which means usd/jpy goes up which correlates to eur/usd going up so if you take away the last 20minutes its like nothing happened yet...its still anyones guess...im still saying down down there is gravity...
But Psi - like your post before, the EUR shot up on expectation of USD rate cut. After cut, EUR shot up some more which further weakened the dollar. I can see carry trade pairs shoot up because they'll be getting more rollovers, but i just cant get a grasp on a reason why eurusd woudl shoot down if japan does cut rates. can you explain this?
  • #42,793
  • Oct 31, 2008 12:20am Oct 31, 2008 12:20am
Quoting permanentjaun
wtf just happened? 80 pips in 2 minutes in off peak hours?
Something very strange going on since 19:00 hours ET Oct 30, 2008. It is not just EUR/USD alone, but seems like the whole market, rather, all markets are upto something - that may not be good for many of us.
The Thief of Wall Street
  • #42,794
  • Oct 31, 2008 12:23am Oct 31, 2008 12:23am
Quoting Kyen
How do you guys feel about EUR movement after news?
every good movement should be followed by one of jays soundbites...

http://www.freesound.org/samplesViewSingle.php?id=20736

this is a weird night. i'm going to look for a guiiness somewhere. join me jay?
FUBAR...
  • #42,795
  • Oct 31, 2008 12:25am Oct 31, 2008 12:25am
thank god the news let me get out of my ealier shot.

planing to re-enter my shot near the red line with tight stop loss. will close my shot if the price break the red line..
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  • #42,796
  • Oct 31, 2008 12:27am Oct 31, 2008 12:27am
my chart
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  • #42,797
  • Oct 31, 2008 12:36am Oct 31, 2008 12:36am
Quoting Kyen
But Psi - like your post before, the EUR shot up on expectation of USD rate cut. After cut, EUR shot up some more which further weakened the dollar. I can see carry trade pairs shoot up because they'll be getting more rollovers, but i just cant get a grasp on a reason why eurusd woudl shoot down if japan does cut rates. can you explain this?
the immediate effect after news comes out is random at best...when it fully meets expectations in a calm normal market the impact is seen by a strong move in the direction of the news. as i was saying this whole week usd/jpy went up in expectation of us rate cut and todays japan rate cut..we saw no retracement. now that the news is out its hard to say what will happen in the next few hours or even by market close (friday is always best to stay away from especially when new to forex trading). i do expect eur/usd to shoot down some more not because of anything that happened this week...but because of the possibility of the next to cut rates...england and the ecb
Different opinions highly valued, ignorant to slander.
  • #42,798
  • Oct 31, 2008 12:39am Oct 31, 2008 12:39am
My opinion only, but there is no sense in wasting time trying to rationalize how a price moves before, during, and after announcements (of ANY kind). The fact as I see it is, announcements are only rarely a reason for a price to change.....more often then not, announcements are simply an excuse to change the price! And with your own eyes, you can see the truth of this, as following so many "releases" the price returns to the pre-announcement area within just a few days, or a few hours, or even A FEW MINUTES....!!!!!!!

It is just one of the PRIZE WAYS the big money concerns (traders for Central Banks and hedge funds) get to manipulate the price to make money IN BOTH DIRECTIONS in a short span of time. Remember, these people need to make money daily/weekly. So they need EXCUSES to move the price up and down continuously thru the week to facilitate feeding their greed. Releases and announcements (the contents of which really do not matter) are PRIME events for them to capitialize on by manipulating prices around these events.
  • #42,799
  • Oct 31, 2008 12:40am Oct 31, 2008 12:40am
Wow I cant believe there really wasn't a huge spike after the news.. I guess it wasn't what the market expected but its still a cut though.. any ideas?
  • #42,800
  • Oct 31, 2008 12:42am Oct 31, 2008 12:42am
Quoting psiholog
the immediate effect after news comes out is random at best...when it fully meets expectations in a calm normal market the impact is seen by a strong move in the direction of the news. as i was saying this whole week usd/jpy went up in expectation of us rate cut and todays japan rate cut..we saw no retracement. now that the news is out its hard to say what will happen in the next few hours or even by market close (friday is always best to stay away from especially when new to forex trading). i do expect eur/usd to shoot down some more not because of anything that happened this week...but because of the possibility of the next to cut rates...england and the ecb
Great outlook - i see what you mean.
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