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EURUSD

  • #48,701
  • Dec 7, 2008 8:07pm Dec 7, 2008 8:07pm
asian market up 84.. didnt see that one.. i thought it would br stagnet with stronger yen
those who can, do. those who cant, talk about those who can
  • #48,702
  • Dec 7, 2008 8:12pm Dec 7, 2008 8:12pm
Perhaps so...but now it is toying with the psychological resistance at 1.2750...if it breaks through that, then I might expect to see it drop down toward 1.2715 or so...watching and waiting...
Zorro...
  • #48,703
  • Dec 7, 2008 8:36pm Dec 7, 2008 8:36pm
The kind of day where heroes are made and legends are born.
  • #48,704
  • Dec 7, 2008 8:37pm Dec 7, 2008 8:37pm
Quoting Shermenator
This is a pair not worth trading at the moment....if it looks crappy from a large timeframe as a daily that means it s not worth trading from time frames smaller then ...stay away and miss this wave and then join again once its clear...

Attachment
hi shermanator, can u pls give me this indicator u used in setting up this chart u attached or at least tell me ow to go about setting mine up this way,thanks in anticipation
  • #48,705
  • Dec 7, 2008 9:38pm Dec 7, 2008 9:38pm
Looks like it may be going back up instead...still waiting for a clear signal..
Zorro...
  • #48,706
  • Dec 7, 2008 9:39pm Dec 7, 2008 9:39pm
Quoting SunTrader
This week? It just started. Is that a prediction?

I agree IF the dollar goes down, euro goes up. Why don't we wait and see.
Yes just a view of the bearish divergence on Daily US-index chart which i use for my euro analysis. But is def. better to wait just as you have stated!
  • #48,707
  • Dec 7, 2008 9:42pm Dec 7, 2008 9:42pm
2 december
COT reports still more shorts in non comercial
27,980 LONG
52,804 SHORT

it seems going up now... I would enter short at weekly pivot resistance levels.
nice trading everybody
  • #48,708
  • Dec 7, 2008 9:43pm Dec 7, 2008 9:43pm
It seems to have returned to the resistance level it had trouble with on the 4th and 5th of December. It just bounced to either side for most of those two days...
Zorro...
  • #48,709
  • Dec 7, 2008 9:50pm Dec 7, 2008 9:50pm
first position since market open for me...more of a testing the grounds. the smaller triangle upper wall from within the bigger wedge is close to being tapped. considering the time of day there is no reason to break it yet...a small short position is in order...lets see now


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Different opinions highly valued, ignorant to slander.
  • #48,710
  • Dec 7, 2008 10:10pm Dec 7, 2008 10:10pm
If we get a rejection here at this 1.28 level we could have the forming of the right shoulder of mini head and shoulders pattern on the hourly chart. (Still holding my put from 1.30 till it reaches the bottom of the range on the daily chart and my short call @1.33 to expire on the 18th.) I would, however, like to see a stronger relationship between the dollar and the risk environment than we experienced last week. Hopefully now that we've gotten past the EURO interest rate announcement, things will return back to form.
  • #48,711
  • Dec 7, 2008 10:16pm Dec 7, 2008 10:16pm
Quoting Srikanth
Very much boring.. expecting no big moves today
Morning everyone

as i said on friday.. nothing much happened and price is still bullish.
  • #48,712
  • Dec 7, 2008 10:34pm Dec 7, 2008 10:34pm
Quoting determined
hi shermanator, can u pls give me this indicator u used in setting up this chart u attached or at least tell me ow to go about setting mine up this way,thanks in anticipation

They are no indicator ....its all fibbs all I did was change colors to the fibbs and change the fibbs from numbers to names...all I use is fibbs.
  • #48,713
  • Dec 7, 2008 10:35pm Dec 7, 2008 10:35pm
I short @2777, SL 2810 TP:2721.
What goes up must come down.
  • #48,714
  • Dec 7, 2008 10:39pm Dec 7, 2008 10:39pm
Quoting psiholog
first position since market open for me...more of a testing the grounds. the smaller triangle upper wall from within the bigger wedge is close to being tapped. considering the time of day there is no reason to break it yet...a small short position is in order...lets see now


Attachment
there is no reason to break!I think so. head and shouder ...very likely
What goes up must come down.
  • #48,715
  • Dec 7, 2008 10:45pm Dec 7, 2008 10:45pm
Quoting smartlee
there is no reason to break!I think so. head and shouder ...very likely
good luck with that...i closed my position for 4 pips gain..something doesnt "feel" right and as my gut feeling is my #1 indicator...sidelines for me for now. it feels like we are in a do or die territory here...big break up or big break down..which one it is...ill wait until london session maybe my gut feeling will clear up then

Sidenote: the reason for my confusion is because most pairs are poised for breakouts and we havent seen any sign yet of backing down which means things are 50/50 right now...not 51% winning chance lol
Different opinions highly valued, ignorant to slander.
  • #48,716
  • Dec 7, 2008 10:48pm Dec 7, 2008 10:48pm
Quoting psiholog
good luck with that...i closed my position for 4 pips gain..something doesnt "feel" right and as my gut feeling is my #1 indicator...sidelines for me for now. it feels like we are in a do or die territory here...big break up or big break down..which one it is...ill wait until london session maybe my gut feeling will clear up then

I like your approach psiholog. Watch and see how it goes, and enter when a direction is confirmed... I like that

Happy trading everyone!
  • #48,717
  • Dec 7, 2008 11:08pm Dec 7, 2008 11:08pm
Well...I'm just reviewing my chart and it seems we have the same pattern as we had on the 5th at about this time before the market dropped into the 1.26's...let's see if it does the same again...
Zorro...
  • #48,718
  • Dec 7, 2008 11:24pm Dec 7, 2008 11:24pm
Quoting Zorro's Mask
Well...I'm just reviewing my chart and it seems we have the same pattern as we had on the 5th at about this time before the market dropped into the 1.26's...let's see if it does the same again...
do not forget the factor that drives the markets..especially this month. That is not the news itself (fundamentals) but the interpretation of the news. the drop on the 5th was a direct result of a week of straight gains by the us stock market on relatively low volume. In other words while most americans were busy enjoying their turkey the "big boys" were loading their shorts at the high for the coming monday. Add on top of that the expectation of ECB and BOE to cut rates (the whole buy the rumor sell the news thing)..as well as the expected bad NFP numbers...we pretty much saw all the damage compacted into that one day..the 5th. This week is an entirely different scenario...with the car manufacter bail out plan as the main topic...the stock market poised to break out of a long term descending triangle (currently dow futures are 150 points up or so which is well above the triangle upper wall)...we could see the exact opposite of last sunday. So for now...waiting to see what london/euro session has to bring is the smart move...while waiting for NY session may be even smarter. Just my 2 cents..
Different opinions highly valued, ignorant to slander.
  • #48,719
  • Dec 7, 2008 11:25pm Dec 7, 2008 11:25pm
Quoting psiholog
do not forget the factor that drives the markets..especially this month. That is not the news itself (fundamentals) but the interpretation of the news. the drop on the 5th was a direct result of a week of straight gains by the us stock market on relatively low volume. In other words while most americans were busy enjoying their turkey the "big boys" were loading their shorts at the high for the coming monday. Add on top of that the expectation of ECB and BOE to cut rates (the whole buy the rumor sell the news thing)..as well as the expected bad...
thanks...
and don't go out of here again...
  • #48,720
  • Dec 7, 2008 11:30pm Dec 7, 2008 11:30pm
I'm with you Psi...just thinking out loud...been waiting to see all night so far..
Zorro...
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