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  • #5,281
  • Nov 6, 2008 7:56am Nov 6, 2008 7:56am
if the next 15 min candle eur/usd close below 1.2840, Im going to enter short
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  • #5,282
  • Nov 6, 2008 8:01am Nov 6, 2008 8:01am
Im going to enter short eur/usd, in case the price retest 1.2840
  • #5,283
  • Nov 6, 2008 8:01am Nov 6, 2008 8:01am
Quoting multipips
AUDUSD has hit around the resistance level of 0.6890 a total of 3 times in the last couple of hours only to drop below 0.6800. It is approaching that level again (currently at 0.6853). Is it a no-brainer to short (at 0.6890)?
Its typically a decent level to watch. However, AUD apppears out of alignment with the other markets. I would be cautious
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  • #5,284
  • Nov 6, 2008 8:02am Nov 6, 2008 8:02am
Quoting copi88
Possibly the BOE is buying up the pound to protect it from a very large fall due to the larger than expected cut.
was there any statement that they will do so ?

in another matter - look how that 61.8 level turned arround the market in 100 pips ... I guess that in some cases the fib levels are stronger then the s&r?

if it is , how do you know when?
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  • #5,285
  • Nov 6, 2008 8:03am Nov 6, 2008 8:03am
Quoting lafedgar
if the next 15 min candle eur/usd close below 1.2840, Im going to enter short


A far more sensible level than where I got in. Am I just too impatient. I am still in my short because I was happy with my decision and my target, but as usual I come from behind. a dangerous way to go and something I must fix.
  • #5,286
  • Nov 6, 2008 8:32am Nov 6, 2008 8:32am
Quoting lafedgar
Im going to enter short eur/usd, in case the price retest 1.2840
I would be careful with that trade. However, your analysis is correct. My opinion is that the break you are refering to was false. And that there is a bullish bias in eur/usd from the 1.2780 level.
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  • #5,287
  • Nov 6, 2008 8:43am Nov 6, 2008 8:43am
Whats your guys take on usd/chf. I think I just made a big mistake taking profits to soon. I shorted at 1.1736 and covered at 1.1695. Probably 1.1600 level is going to be touched.
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  • #5,288
  • Nov 6, 2008 8:47am Nov 6, 2008 8:47am
whats your guys take. Has 1.2830 in eur/usd become new pivot support
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  • #5,289
  • Nov 6, 2008 8:49am Nov 6, 2008 8:49am
Quote
Originally Posted by multipips http://www.forexfactory.com/images/buttons/viewpost.gif
AUDUSD has hit around the resistance level of 0.6890 a total of 3 times in the last couple of hours only to drop below 0.6800. It is approaching that level again (currently at 0.6853). Is it a no-brainer to short (at 0.6890)?


Quoting Guerrillawar
Its typically a decent level to watch. However, AUD apppears out of alignment with the other markets. I would be cautious
Guys,

AUDUSD.
Much more stronger and important is 0.7000 (or 0.7014).
look for it at your nearest chart...
  • #5,290
  • Nov 6, 2008 8:50am Nov 6, 2008 8:50am
Quoting Guerrillawar
Whats your guys take on usd/chf. I think I just made a big mistake taking profits to soon. I shorted at 1.1736 and covered at 1.1695. Probably 1.1600 level is going to be touched.
I would not be shorting anything usd with the way it has been strengthening lately, and repatriation. I would be waiting for drops and then only buying it, but that is my opinion and tonight I have not been on song.
  • #5,291
  • Nov 6, 2008 8:50am Nov 6, 2008 8:50am
swissie look interesting. some one has to lose?
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  • #5,292
  • Nov 6, 2008 8:55am Nov 6, 2008 8:55am
Here's my GBP chart unchanged from the beginning of the session today.....what a fiasco. Perfect wedge forming now with these intraday, 15 min levels acting like a shield in both directions.....good day to grab the popcorn and enjoy the show.

Shorter term, we may get a break below the 1.5840 support area - equities are falling off despite the cuts. After a move like yesterday its going to be hard to find the buyers.....but I think anything is possible nowadays here.

Technically, this is a bullish formation.
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  • #5,293
  • Nov 6, 2008 8:59am Nov 6, 2008 8:59am
Thank you!
Quoting kc8flq
Gold - GC_CONT in charts menu
Crude- CL_CONT
Dollar- DX_CONT
  • #5,294
  • Nov 6, 2008 9:08am Nov 6, 2008 9:08am
hi BRV
first your blog is great .
steve why you have stoped updating the first page ??
thanks
  • #5,295
  • Nov 6, 2008 9:10am Nov 6, 2008 9:10am
Quoting BillyRayValentine
Here's my GBP chart unchanged from the beginning of the session today.....what a fiasco. Perfect wedge forming now with these intraday, 15 min levels acting like a shield in both directions.....good day to grab the popcorn and enjoy the show.

Shorter term, we may get a break below the 1.5840 support area - equities are falling off despite the cuts. After a move like yesterday its going to be hard to find the buyers.....but I think anything is possible nowadays here.

Technically, this is a bullish formation.
My take on cable is its well bid. I don't like TA patterns it just adds confusion. Bottom line, there is real demand at 1.5725. Its forcefully rejected that area a few times now. I would be surprised if it breaches that level in a meaningful way but whats the main rule of trading? Any thing can happen at any time for no apparent reason.
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  • #5,296
  • Nov 6, 2008 9:12am Nov 6, 2008 9:12am
Quoting BillyRayValentine
Here's my GBP chart unchanged from the beginning of the session today.....what a fiasco. Perfect wedge forming now with these intraday, 15 min levels acting like a shield in both directions.....good day to grab the popcorn and enjoy the show.

Shorter term, we may get a break below the 1.5840 support area - equities are falling off despite the cuts. After a move like yesterday its going to be hard to find the buyers.....but I think anything is possible nowadays here.

Technically, this is a bullish formation.
gu was in this H1 wedge for long time,seems no long valid almost reach the end of the wedge
  • #5,297
  • Nov 6, 2008 9:14am Nov 6, 2008 9:14am
Dear Steve, today:

EUR did n ot reach any level,
GBP on huge spikes only,
CHF only above levels (but not 100% interesting since we have a long bias), JPY barely touched the below levels.

With that been said, was today a day of active trades OR due to levels not reached (apart from the gbp spikes....dangerous ), you just were idle and sat without touching any buy/sell button?
Thanks
Max
  • #5,298
  • Nov 6, 2008 9:17am Nov 6, 2008 9:17am
Whats your guys take? Is 1.2705 the pivot in eur/usd. Its dangely and not clean but I think a lot of trades have taken place. There are active bears and bulls in this market today. How do you assess value when these patterns are not clean but significant action is taking place?
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  • #5,299
  • Nov 6, 2008 9:38am Nov 6, 2008 9:38am
Quoting dorellino
Dear Steve, today:

EUR did n ot reach any level,
GBP on huge spikes only,
CHF only above levels (but not 100% interesting since we have a long bias), JPY barely touched the below levels.

With that been said, was today a day of active trades OR due to levels not reached (apart from the gbp spikes....dangerous ), you just were idle and sat without touching any buy/sell button?
Thanks
Max
Hi Max,
I took a long on EU early on in the day when I saw it bouncing from minor support, and then shorted on 15 min resistance. The levels I mark are just the bigger ones, easier to use and for bigger trades.

Alot of the intraday stuff you really need to observe price action as it occurs. Its hard for to just post intraday levels and explain exactly whats going to happen when they hit because surrounding price action, which happens throughout the session will dictate if price has maxed out or not in most cases, or if price is ready for a breakout.

Like if there is a level posted, and price is spiking on heavy momentum right into it, Im probably not going to look to fade it there. But if price moved up to it slow and steady, with minor corrections along the way it hold a much greater chance of acting as a pivot.

In terms of today, once 6am rolled around or so I just sat back. Too much turmoil for me to risk hard earned money on. I prefer waiting until easy stuff comes along. Forcing trades just to trade drains accounts.
  • #5,300
  • Nov 6, 2008 9:42am Nov 6, 2008 9:42am
Quoting BillyRayValentine
Forcing trades just to trade drains accounts.
I can give perfect examples for that after this GU spikes...
*sigh*
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