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  • #50,901
  • Edited 6:53am Dec 17, 2008 4:27am | Edited 6:53am
G/U has fallen sharply and now it is E/U 's turn to fall by new short orders and profit taking action.
Give me patience
  • #50,902
  • Dec 17, 2008 4:33am Dec 17, 2008 4:33am
Quoting abasiakara
the market stays irrational longer than you can stay solvent. bottomline is it really depends on your account size and risk appetite.my personal oppininon is to use a stop loss you can afford and let the trade unfold.you can always trade another time if your account is intact. if it's blown? never hold on to a loosing trade! just my opinion though.
absolutely correct - look at your account and make your decision. Its hit a tough resistance - price action over the past few days suggest that we will close the week higher - but NO one can guarantee that or the opposite. So it really depends on how much you want to risk.
  • #50,903
  • Dec 17, 2008 4:44am Dec 17, 2008 4:44am
USD forecast for December 2008...
Attached Image
  • #50,904
  • Dec 17, 2008 4:49am Dec 17, 2008 4:49am
Current consolidation is expected to be limited above 1.3880, before next, final leg upwards to 1.4361.


This is from Deltastock for today.
  • #50,905
  • Dec 17, 2008 4:55am Dec 17, 2008 4:55am
Quoting hitman047
i was long at 4150 trying to catch a spike. BAD MOVE. now i'm down 60 pips or so. do you think i should hold on, given that the general consensus is that it should be an up trend after some minor correction (which is happening right now)?
coincidentally I went short at the same time for the same reason
Time goes you say? Ah, no! Time stays. We go...
  • #50,906
  • Dec 17, 2008 5:05am Dec 17, 2008 5:05am
Quoting Shadowfx
Good morning,

Key level today is 1.40745 (MR1) acting as support.
As I expected Asian session continued upwards trend with profit taking at the end towards as low as 1.40

Clear support against any down trend or retrace below 1.40 level.

Trading range:

1.40 might be tested in European session but IMO only to act as launch platform for further continuation towards 1.420 with resistance R1 @ 1.4223 as T1 today.

Break low of 1.40 could bring us back towards daily pivot @ 1.3925 which is IMO the most unlikely scenario looking at risk aversion and...
Great call, where did you get the 1.40745 figure from?
  • #50,907
  • Dec 17, 2008 5:17am Dec 17, 2008 5:17am
Quoting Shadowfx
USD forecast for December 2008...
I wish you all the best for current and eternal life . ( you r one of the greatest guys here such as Acumen,AK4x, Psi,BTL,SUN,Cobra ...)

Hope u keep posting
  • #50,908
  • Dec 17, 2008 5:19am Dec 17, 2008 5:19am
Quoting Jay Walker
So do we get to play 20 questions to find out who you where?
How r u this morning Jay
  • #50,909
  • Dec 17, 2008 5:19am Dec 17, 2008 5:19am
More short-covering is likely above 1.4200 and a squeeze to 1.4600 before year-end is possible (at which point we favour several weeks of consolidation).

Strategy: Attempt longs at 1.4035 but be prepared to add to 1.3800; stop below 1.3600. First target 1.4200, above which another round of short covering should kick in.
Probability Professor
  • #50,910
  • Dec 17, 2008 5:38am Dec 17, 2008 5:38am
Quoting andys0506
Great call, where did you get the 1.40745 figure from?
Hi Andy,

Its a quarter pivot level
  • #50,911
  • Dec 17, 2008 5:43am Dec 17, 2008 5:43am
I heard something about EU cut rate again, it's on reuteurs new. It's may be EU fall today....
The market is always right, but it is not never wrong!!!
  • #50,912
  • Dec 17, 2008 5:45am Dec 17, 2008 5:45am
Quoting Shadowfx
Hi Andy,

Its a quarter pivot level
thanks
  • #50,913
  • Dec 17, 2008 5:46am Dec 17, 2008 5:46am
Quoting guardians
I heard something about EU cut rate again, it's on reuteurs new. It's may be EU fall today....
My understanding is that the ECB will hold off from a rate cut.
Probability Professor
  • #50,914
  • Dec 17, 2008 5:48am Dec 17, 2008 5:48am
Quoting Galation
My understanding is that the ECB will hold off from a rate cut.
That's correct Galation...

"The SNB has already acted, expects The BoE to cut to 1% in January and BoJ is under scrutiny this Friday. More importantly says UBS, the ECB may pause in January but will ultimately cut to 1%"
  • #50,915
  • Dec 17, 2008 5:53am Dec 17, 2008 5:53am
Quoting Galation
My understanding is that the ECB will hold off from a rate cut.
Yes frd,
USD : 0.25%
EUR : 2.25% (with no bad news after nearly cut rate)
GBP : 2% (maybe cut 1%).
In this time, no one want my currency to be strong. With every reason for this....
I expect EU cut with 50 point another.
The market is always right, but it is not never wrong!!!
  • #50,916
  • Dec 17, 2008 6:00am Dec 17, 2008 6:00am
Titanic is going to sink slowly? and sudden ghigggggggggg viggggggggggggggggg
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  • #50,917
  • Dec 17, 2008 6:07am Dec 17, 2008 6:07am
Quoting peyman
Titanic is going to sink slowly? and sudden ghigggggggggg viggggggggggggggggg
How did you come to this conclusion?
Probability Professor
  • #50,918
  • Dec 17, 2008 6:17am Dec 17, 2008 6:17am
Quoting Galation
How did you come to this conclusion?
first i'm not professional trader . as i drew on chart i consider a triangle and
it's break out to down side. and fundamentaly as i read to day i guss stock
is going down today so no one want to have expensive eru in his poket before US opening!!! and some resonse thart i mentioned erlier these r just my thinking.
  • #50,919
  • Dec 17, 2008 6:17am Dec 17, 2008 6:17am
The New York and Chicago session will create the trend. I am Bull biased.
Probability Professor
  • #50,920
  • Dec 17, 2008 6:25am Dec 17, 2008 6:25am
Quoting Galation
The New York and Chicago session will create the trend. I am Bull biased.
I agree.
Im bull as well. Trend will continue up. There is more than enough momentum to push Eur into a higher price class. Usd has nothing but the hopes of 2009 behind it ... unfortunatly that is not enought at this time.

Trends up until 2009.
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