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  • #53,681
  • Jan 5, 2009 7:08am Jan 5, 2009 7:08am
Quoting kris
Strong support at this 1.3560 level. If broken downwards, should be a major downward move.

Placing short at 1.3550 TP: 1.3450

What do you think?

little late now but anything could happen so ,....
  • #53,682
  • Jan 5, 2009 7:09am Jan 5, 2009 7:09am
The Euro made a spectacular fall - 400 pips!
Maybe the Construction Spending data in 2 hours will make it retrace...
  • #53,683
  • Jan 5, 2009 7:12am Jan 5, 2009 7:12am
Quoting Stunt
If it breaks 1.3650( today's low and S3 line) it's going more down.
My target 1.3490
nice ...
  • #53,684
  • Jan 5, 2009 7:15am Jan 5, 2009 7:15am
Quoting kris
Strong support at this 1.3560 level. If broken downwards, should be a major downward move.

Placing short at 1.3550 TP: 1.3450

What do you think?
It is amazing why you still want to short after more than 300 pips drop. I would rather go long at that price
  • #53,685
  • Jan 5, 2009 7:15am Jan 5, 2009 7:15am
Quoting mirex
MB MT4? they mbtrading with MT4? if so can i get link?

nevermind went to there site and saw it.. awesome, been waiting for this!
OMG!! and its sweet too - Entries are SUPERFast!!! - I finally get to dump the Alpari anti-scalper delay!!!
  • #53,686
  • Jan 5, 2009 7:15am Jan 5, 2009 7:15am
oh well, here comes the retracement.
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  • #53,687
  • Jan 5, 2009 7:16am Jan 5, 2009 7:16am
Quoting trader2160
where did you go long?

I'm watching that 3560 level..if it holds for a while.. ~ till 10am period...we are looking at a favorable retracement.. ~ 38% but..if it breaks in next hour..yup...she's dropping...

Swissy is moving down now..Euro is not far behind...

what are your views on retracement for eurusd

thanks
  • #53,688
  • Jan 5, 2009 7:17am Jan 5, 2009 7:17am
Quoting Fulltime247
OMG!! and its sweet too - Entries are SUPERFast!!! - I finally get to dump the Alpari anti-scalper delay!!!
really? nice nice, was it pretty quick to change from NAV account to MT4 account?
  • #53,689
  • Jan 5, 2009 7:21am Jan 5, 2009 7:21am
Quoting trader2160
where did you go long?
long 1.3680 just one mini

  • #53,690
  • Jan 5, 2009 7:23am Jan 5, 2009 7:23am
The new year seems to have brought some different price action, not only in EURUSD, but across the board.

You have to wonder, what the heck international markets have in mind going forward. The craziness continues.
  • #53,691
  • Jan 5, 2009 7:24am Jan 5, 2009 7:24am
I am thinking long too once it breaks 1.3590 guess we can ride this up for about 40 pips. But its a very risky trade
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  • #53,692
  • Jan 5, 2009 7:26am Jan 5, 2009 7:26am
could this be our retrace and if so to where 3680?
  • #53,693
  • Jan 5, 2009 7:29am Jan 5, 2009 7:29am
Quoting TIckerShuffl
long 1.3680 just one mini

Yours is 10 pips higher than mine. I entered @ 1.3670
  • #53,694
  • Jan 5, 2009 7:31am Jan 5, 2009 7:31am
Quoting Atondra
Yours is 10 pips higher than mine. I entered @ 1.3670
better to get out, the trend is down!
  • #53,695
  • Jan 5, 2009 7:31am Jan 5, 2009 7:31am
http://www.forexfactory.com/images/icons/icon1.gif EURUSD
Thanks guys.....after that great move down I took a couple of hours off - I do find it difficult to sit on my hands, so that way I remove any temptation!

I came back to find another clear rejection of a level - this time the 700 - so I took another short - and also in cable as Swissy was heading north again.

Now the confluence of S1 and the 550 level is acting as support, so I've closed out and will wait to see what the New York traders do....

From my higher TF charts I see that we have a the 50% retrace of the December rally at 1.3523 and I also have a fib expansion at 499, so IF there is a pull back into the 600 / 650 area it will be a great area for another short....TWT http://www.forexfactory.com/images/icons/icon12.gif
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  • #53,696
  • Jan 5, 2009 7:35am Jan 5, 2009 7:35am
I stopped my loss at 5 pips. Change trade to downwards.
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  • #53,697
  • Jan 5, 2009 7:36am Jan 5, 2009 7:36am
Quoting Atondra
It is amazing why you still want to short after more than 300 pips drop. I would rather go long at that price
Why not wait for a good retrace to short it again?
That'd be more conservative if you ask me.
Trend is clearly down so I'd hop one the train once it
reaches the next station to pick up more big shorters.
In a Downtrend sell on pullbacks.

If it goes up and stops me out with profit. Oh well.
If it goes down more. Even better.

Quote
I stopped my loss at 5 pips. Change trade to downwards.
Don't just reverse trade. Wait for the best price to short.
  • #53,698
  • Jan 5, 2009 7:37am Jan 5, 2009 7:37am
Quoting klinckphilip
could this be our retrace and if so to where 3680?
1.3649 would be the 23.6% retrace on today's action, but as Kris said, very risky. Trend is down.
Up or down, gimme a ticket
  • #53,699
  • Jan 5, 2009 7:41am Jan 5, 2009 7:41am
Im out on a limb that this is going to leave a long tail on the candle.

It had to do this drop before successfully bouncing north on 20 and 100 SMA on daily..IMO.

edit changes 200 to 100
  • #53,700
  • Jan 5, 2009 7:43am Jan 5, 2009 7:43am
@kris

See. Now that it's retracing even more you'll be in panic again.
Always try to get the best entry.
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