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EURUSD

  • #50,621
  • Dec 16, 2008 10:19am Dec 16, 2008 10:19am
I just closed a long position with 283 pips
  • #50,622
  • Dec 16, 2008 10:21am Dec 16, 2008 10:21am
EU 1 hour with my trading style has gained me far far more pips than a GJ trade would have given me this week. I am thrilled.
  • #50,623
  • Dec 16, 2008 10:24am Dec 16, 2008 10:24am
And then there’s this – off of the MNI news from FXSOL –

EURO_DOLLAR: of interest one veteran trader we speak with familiar with the actions of a slew of real-money accounts and some hedge funds contends that some of the3 euro demand in recent days has come from funds liquidating shorts booking profits on positions they may otherwise have3 held onto (though we question that given the scale of the move). Trader says light background chatter suggests some are being forced into cash due to exposures to the unfolding Madoff Ponzi scandal. Hard to verify but and interesting link.


Makes one think – now don’t it?

Seereye
Pip what you see; See what you pip!
  • #50,624
  • Dec 16, 2008 10:25am Dec 16, 2008 10:25am
Good Job Bluechip & Junglelion. Giving Props where there deserved.
  • #50,625
  • Dec 16, 2008 10:32am Dec 16, 2008 10:32am
What are you guys looking at as far as a target before it tops off? Im in short right now ...in at 1.38030 and by my predictions it is going to hit atleast 1.39000 by 2 (before the news). Then I'm going to hold off until the new trend occurs...

Good way to play it ? Looking for some suggestions
Going to make it big by age 21.
  • #50,626
  • Dec 16, 2008 10:49am Dec 16, 2008 10:49am
Quoting dstryr
What are you guys looking at as far as a target before it tops off? Im in short right now ...in at 1.38030 and by my predictions it is going to hit atleast 1.39000 by 2 (before the news). Then I'm going to hold off until the new trend occurs...

Good way to play it ? Looking for some suggestions
Yes, hold off until the news, then let the market tell you what it is doing.
Probability Professor
  • #50,627
  • Dec 16, 2008 10:50am Dec 16, 2008 10:50am
FYI. Another source was looking for EUR to retrace at the 38.2 level which was 1.3741 looking at a daily chart for past 10 years. Obviously that is ancient history but their next pivot level at 50.0 is 1.4178.

Food for thought but at this point it's probably very news driven , no matter what?
  • #50,628
  • Dec 16, 2008 10:51am Dec 16, 2008 10:51am
i got my 121 pips scalping 7 trades today mostly on gu 40 on eu. sitting on the sideline. with all trades *feet cocked up drinking a beer watching cnbc. waiting for the firestorm on eur if it develops/ or usd. considering countrend long on usd/yen or with long trend eur/jpy. not doing anything else for now. might even watch the dumbasses on Springer... market been going up a few weeks and traders are zombies pushing market up even with bad news. somethings gotta give. and when it does ill be there after the dust settles. has to be geting hard in europe they cant afford anything from japan and getting harder to sell anything in u.s. hey maybe u.s. will start buying their own cars..it 4 now beer mt. getting another.
those who can, do. those who cant, talk about those who can
  • #50,629
  • Dec 16, 2008 10:54am Dec 16, 2008 10:54am
In my opinion you are exposing yourself to an unnecessary risk by entering the short so soon. If your prediction is that EUR/USD should approach 1.3900 territory then why not wait until it is closer to that price level, or better yet wait until the FED anouncement is completed and then enter your short given the price action is favorable.
  • #50,630
  • Dec 16, 2008 11:04am Dec 16, 2008 11:04am
o.k. boys and girls - strap 'em up - grab a beer or one of your favorite beverages, sit back and enjoy the show (or the lack of one) gunna get interesting (or not) in the next few minutes. And for you news traders - good luck.

Seer
Pip what you see; See what you pip!
  • #50,631
  • Dec 16, 2008 11:04am Dec 16, 2008 11:04am
Quoting ak4x
I've been pondering the latest reports on "Touche' Trichet" and how that seems to have been playing out in this recent euro climb. This from a bloomberg article today...

“Do we have a feeling there is a limit to the decrease in rates? At this stage certainly yes,” Trichet told journalists in Frankfurt late yesterday. The comments were embargoed until today...

[i]“In a way it’s free riding on the U.S. fiscal stimulus plan, hoping it will help the global economy,” said Callow. “However, with the Fed embarking on quantitative easing,...
I turn out from longs to shorts too soon!
I see nice top levels, but the problem here is trying to figure it out the Time when that top can be reached.
What range will we see for the rest of this month and next ones.
  • #50,632
  • Dec 16, 2008 11:06am Dec 16, 2008 11:06am
Entering a position 10 minutes before the rate cut is like heaping hot coals into your lap: it's uncomfortable and could hurt Just relax
Probability Professor
  • #50,633
  • Dec 16, 2008 11:06am Dec 16, 2008 11:06am
if the news releases were bad this morning the cut can be more deep then the eur with low prices, high unemployment, bigger deficit spells eur long.
My Email For Help: [email protected]
  • #50,634
  • Dec 16, 2008 11:08am Dec 16, 2008 11:08am
Quoting SeerEye
o.k. boys and girls - strap 'em up - grab a beer or one of your favorite beverages, sit back and enjoy the show (or the lack of one) gunna get interesting (or not) in the next few minutes. And for you news traders - good luck.

Seer
Price has more than likely been factored in. If it is 0.5% as forcasted, I wouldn't be surprised if the dollar got stronger.
Probability Professor
  • #50,635
  • Dec 16, 2008 11:08am Dec 16, 2008 11:08am
Looks like too many short coverings early. Bad news ... if market moves up they'll lose money fast. Good news is ... if market moves down, they'll get in early on the move.

1Hr chart showing potential downward move (over bought) so the shorts may be playing off of that chart.
  • #50,636
  • Dec 16, 2008 11:11am Dec 16, 2008 11:11am
Quoting Galation
Price has more than likely been factored in. If it is 0.5% as forcasted, I wouldn't be surprised if the dollar got stronger.

been saying that for days -still fun to watch from the cheap-seats.

Seer
Pip what you see; See what you pip!
  • #50,637
  • Dec 16, 2008 11:13am Dec 16, 2008 11:13am
Wow, this is great preparation for the SuperBowl....grab a beer, sit back, relax enjoy the show . Only difference is this show will be over in half an hour or less.



Quoting SeerEye
o.k. boys and girls - strap 'em up - grab a beer or one of your favorite beverages, sit back and enjoy the show (or the lack of one) gunna get interesting (or not) in the next few minutes. And for you news traders - good luck.

Seer
  • #50,638
  • Dec 16, 2008 11:15am Dec 16, 2008 11:15am
What time period chart should I be watching to hop on the trend before it ends?
Going to make it big by age 21.
  • #50,639
  • Dec 16, 2008 11:17am Dec 16, 2008 11:17am
Has anyone else saw their spread on the EUR/USD increase???

I'm with Alpari and its just jumped from 2 pips to 15

The flaming cheek of it!!!!!!
  • #50,640
  • Dec 16, 2008 11:17am Dec 16, 2008 11:17am
4 Hour or higher.
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