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  • #44,581
  • Edited 2:46am Nov 11, 2008 2:15am | Edited 2:46am
SL (20 pips hit)...
except he's having a long term position with pretty big stop... or no stop at all

edit : don't get confused with my writings...
i'm just a newbie... so u should carry on with your own trades

Quoting oldman
hi!
Target?
Money management is good for your health...
  • #44,582
  • Nov 11, 2008 2:28am Nov 11, 2008 2:28am
Just got this as part of an email from e forex:

The Euro has failed to breach the resistance at 1.2900 on yesterday and collapsed, filling the weekend's gap and also testing support at 1.2675. Since support at 1.2675 is intact, the daily momentum is still bullish but losing strength. Below the said support should resume downtrend and aim towards 1.2525. On the upside, resistance is seen at 1.2790 followed by 1.2900 and 1.3050. On a near term basis, the consolidation is likely to continue but a break out of the triangle formation (daily charts) is expected within the next few trading sessions. None of the triangle sides are being favored therefore we maintain the "wait and see" attitude. Current quote is 1.2730 @07:45 GMT

Support levels: 1.2675, 1.2525 and 1.2335.
Resistance levels: 1.2790, 1.2900, 1.3050 and 1.3260.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish

seems to sum it up about right.

Also looks like the oil price will start a bearish trend and dive further..... (broker email)

Might sit it out today.......
  • #44,583
  • Nov 11, 2008 2:38am Nov 11, 2008 2:38am
Quoting eddiemiller
Just got this as part of an email from e forex:

On a near term basis... a break out of the triangle formation (daily charts) is expected within the next few trading sessions...therefore we maintain the "wait and see" attitude.

Might sit it out today.......
Sounds like swing trader advice. While they wait and see for the next few days, I'm for makin pips. That's the only reason to sit in front of these screens. And makin pips i am on the the short bus.
FUBAR...
  • #44,584
  • Nov 11, 2008 2:48am Nov 11, 2008 2:48am
... sometimes the best trade is not to trade at all.... Forex is still there tomorrow, and tomorrow is another day....


That also rings true.
  • #44,585
  • Nov 11, 2008 2:50am Nov 11, 2008 2:50am
the short bus...the bull train...the less then 100pips range for the day...i see where this is going ...straight to bed...be back new york session all...this is one of the slowest days i have ever seen in forex...even by "normal" standards
Different opinions highly valued, ignorant to slander.
  • #44,586
  • Nov 11, 2008 2:55am Nov 11, 2008 2:55am
Quoting eddiemiller
Also the US is in better shape
Better shape compared to what?
  • #44,587
  • Nov 11, 2008 3:04am Nov 11, 2008 3:04am
Quoting psiholog
the short bus...the bull train...the less then 100pips range for the day...i see where this is going ...straight to bed...be back new york session all...this is one of the slowest days i have ever seen in forex...even by "normal" standards
I think all signs of hidden big movements today , just sitting before the computer with some random shorts though.

Perhaps market is waiting for some news to initiate the momentum, may be next few gbp & eur news .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #44,588
  • Nov 11, 2008 3:06am Nov 11, 2008 3:06am
Knockin off here for the nite. Don't forget tomorrow is banking holiday for Cad and US... veterans day. That will thin the liquidity some. When the power starts leaving the markets, it's easy to get stuck in a trade going nowhere fast, and invariably you'll find your self on the wrong side of it for the duration. I always do anyway every time I violate my low or no momentum trading rules. Serves me right...

I'm also expecting things to taper off some over the next few days in advance of the G20 summit this weekend. That said, even if it tapers off, there could be some sudden moves of significance as institutions position theirselves for whatever comes out of those meetings.

That could generate a lot of false b/o signals as things scrunch down into those compression zones across the pairs.

And again, Hedge Fund D-day is the 15th. Be some cash raising going on I expect as some of the funds are apparently realizing they underestimated the redemption volume. Screwy markets in all likelihood for a few days.
FUBAR...
  • #44,589
  • Nov 11, 2008 3:06am Nov 11, 2008 3:06am
new york session?
it's veteran day i think, and US market is on holiday?
would there be a big move on the US holiday?

Quoting psiholog
the short bus...the bull train...the less then 100pips range for the day...i see where this is going ...straight to bed...be back new york session all...this is one of the slowest days i have ever seen in forex...even by "normal" standards
Money management is good for your health...
  • #44,590
  • Nov 11, 2008 3:08am Nov 11, 2008 3:08am
Quoting mikkom
Better shape compared to what?
than Europe in general.
  • #44,591
  • Nov 11, 2008 3:11am Nov 11, 2008 3:11am
Quoting 13thheaven
new york session?
it's veteran day i think, and US market is on holiday?
would there be a big move on the US holiday?
Yes , your diagnosis may be correct & in this case then again make another complex within the triangle & even may try break at the top ? not impossible ? next come to the line next time after many stop outs perhaps .

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #44,592
  • Nov 11, 2008 3:15am Nov 11, 2008 3:15am
Quoting 13thheaven
new york session?
it's veteran day i think, and US market is on holiday?
would there be a big move on the US holiday?
The stock market is open today in America.
Up or down, gimme a ticket
  • #44,593
  • Nov 11, 2008 3:26am Nov 11, 2008 3:26am
Quoting SpecialEd
I'm pretty sure that the stock market is open today in America.
Quoting 13thheaven
...would there be a big move on the US holiday?
It's a banking holiday. Markets will be open as they are not banks. Liquidity will be thinner becuz the banks are closed, as are any firms that are governed by the banking laws.

Thin liquidity makes it easier for a modest transaction to have an effect that is out of proportion to the size of the transaction, making it easier to move the markets in a particular direction for whatever reason. I've already posted some good reasons to be very careful this week.

Asking if there will be a big move on a holiday is a non question, as there are no rules that govern when big moves happen, only historical tradition. I certainly won't be trading much beyond holding currently open positions. This could easily be a good week to do something else besides sit in front of a screen and donate all your profits back to the borkers.
FUBAR...
  • #44,594
  • Nov 11, 2008 3:28am Nov 11, 2008 3:28am
Quoting eddiemiller
Well for a start:

Brent Crude (BRENT)...
well ... thanks a lot

but why the USDCHF is still falling !!! i lost 60 points in that thing in addition to -150 total today

Quoting eddiemiller
... sometimes the best trade is not to trade at all.... Forex is still there tomorrow, and tomorrow is another day....


That also rings true.
that's true ... today is my worst day in forex since i started to trade again 3 weeks ago.

bad luck!

i hope i can cover my loss today
  • #44,595
  • Nov 11, 2008 3:29am Nov 11, 2008 3:29am
Quoting ak4x
It's a banking holiday. Markets will be open as they are not banks. Liquidity will be thinner becuz the banks are closed, as are any firms that are governed by the banking laws.
Thanks AK. Makes sense. Now go to bed!

Hope you've been doing well. Judging from your posts, the answer would be YES AS ALWAYS. Good to see.

Ed
Up or down, gimme a ticket
  • #44,596
  • Nov 11, 2008 3:31am Nov 11, 2008 3:31am
Quoting mentos
but why the USDCHF is still falling !!! i lost 60 points in that thing in addition to -150 total today
I also dumped my CHF/USD trade at -30 pips. Not a pair I usually trade and something just didn't feel right.

Pure guess as I have nothing to base it on....
  • #44,597
  • Nov 11, 2008 3:34am Nov 11, 2008 3:34am
Quoting eddiemiller
I also dumped my CHF/USD trade at -30 pips. Not a pair I usually trade and something just didn't feel right.

Pure guess as I have nothing to base it on....
so i 'll be waiting for a chance in euro today ..... it seems way better than chf to me ..
  • #44,598
  • Nov 11, 2008 3:35am Nov 11, 2008 3:35am
EUR/AUD is a nice trade today so far.............
  • #44,599
  • Nov 11, 2008 3:38am Nov 11, 2008 3:38am
EUR/USD - target 1,2200
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  • #44,600
  • Nov 11, 2008 3:55am Nov 11, 2008 3:55am
buying eur/usd in 1,2750 to test 1,2780 again
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