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  • #53,701
  • Jan 5, 2009 7:51am Jan 5, 2009 7:51am
yea agreed with you, I will be waiting for the retrace short.

No longs on the EUR/USD today.
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  • #53,702
  • Jan 5, 2009 7:57am Jan 5, 2009 7:57am
retrace up to 3748 area would be primetime for shorting again, hopefully it makes its way up to that area at somepoint today. but for some reason im doubting it will even come close untill then im sitting out unfortunately
  • #53,703
  • Jan 5, 2009 7:58am Jan 5, 2009 7:58am
Quoting belekas
Anyone following my posts, take a look and see how well price stopped at FE78.6 to the pip. My trading plan is in the play and yes in my point of view euro still has room to the downside to the lower border and FE100 @ 13466 once and if the FE78.6 is taken out

http://www.forexfactory.com/showpost...36&postcount=4
Another 100 pips once support @ FE78.6 taken out. Price stopped at FE88.6. So simple and yet so effective. Once its taken out FE100 @ 13466 is on the cards Lovely...
  • #53,704
  • Jan 5, 2009 8:01am Jan 5, 2009 8:01am
Quoting Islander
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!
Hey there Islander, a stray breeze must have blown you over this way..

I hear you on the "hand sitting thing", i'm going to go stick a new timing belt/water pump on the toyota today and see where this all sits tomorrow, and like Bemac said sometime last night, "wait for all the market participants to return..."

My goal this first week or so ((of 2009)) is stay off the rocks and keep the boat floating, not make a bazillion pips...
FUBAR...
  • #53,705
  • Jan 5, 2009 8:12am Jan 5, 2009 8:12am
Quoting NwFXenthsist
retrace up to 3748 area would be primetime for shorting again, hopefully it makes its way up to that area at somepoint today. but for some reason im doubting it will even come close untill then im sitting out unfortunately
I don't think it will get higher than 1.366X.
Look at the chart.
  • #53,706
  • Jan 5, 2009 8:19am Jan 5, 2009 8:19am
Quoting Tjpld
I don't think it will get higher than 1.366X.

yeah id agree but if it makes past the little 15m chart consolidated period btween 3650-3700 it might come close...well see though....for some reason i think id be better off sticking my face in a pile of mudd
  • #53,707
  • Jan 5, 2009 8:54am Jan 5, 2009 8:54am
Quoting NwFXenthsist
yeah id agree but if it makes past the little 15m chart consolidated period btween 3650-3700 it might come close...well see though....for some reason i think id be better off sticking my face in a pile of mudd
either way i love my EA, it picked the entire move down, and is now trading the retrace entirely on its own.
  • #53,708
  • Jan 5, 2009 9:01am Jan 5, 2009 9:01am
Quoting NwFXenthsist
yeah id agree but if it makes past the little 15m chart consolidated period btween 3650-3700 it might come close...well see though....for some reason i think id be better off sticking my face in a pile of mudd
I would have to agree with you both...
the move was too steep and much more room for downward movement. I would feel much better placing a pending order on the way down..rather then get caught going up...
  • #53,709
  • Jan 5, 2009 9:05am Jan 5, 2009 9:05am
entered short 1.3640, target 1.3550( daily minimum)
We'll see
  • #53,710
  • Jan 5, 2009 9:10am Jan 5, 2009 9:10am
Quoting Stunt
entered short 1.3640, target 1.3550( daily minimum)
We'll see
Entered 1.3642 target 1.3550 also, if all goes as normal, shouldn't be a problem to hit that target.
Traders are smartasses
  • #53,711
  • Jan 5, 2009 9:11am Jan 5, 2009 9:11am
Quoting Tjpld
I don't think it will get higher than 1.366X.
Look at the chart.
Maybe NO and maybe YES. Your guess is as good as mine
  • #53,712
  • Jan 5, 2009 9:15am Jan 5, 2009 9:15am
Quoting JammerJams
I would have to agree with you both...
the move was too steep and much more room for downward movement. I would feel much better placing a pending order on the way down..rather then get caught going up...

yeah getting caught up counter-trend is def bad times unless its a scalp....well even then it sucks lol
  • #53,713
  • Jan 5, 2009 9:30am Jan 5, 2009 9:30am
Quoting ak4x
Hey there Islander, a stray breeze must have blown you over this way..

I hear you on the "hand sitting thing", i'm going to go stick a new timing belt/water pump on the toyota today and see where this all sits tomorrow, and like Bemac said sometime last night, "wait for all the market participants to return..."

My goal this first week or so ((of 2009)) is stay off the rocks and keep the boat floating, not make a bazillion pips...

LOL AK - Happy New Year to you - with the ADR in Euro and Cable so close to those of EJ and GJ its much better to be here - 2 pip spread and all that makes life much easier ....so I upped anchor and caught this morning's downwind move......tee hee....then pirated a few pips out of the pull back, took a short close to the 650 level that I suggested earlier and exited when EU failed to get back under 600......now its getting difficult, so time for another break....
Trading Levels with WRBs
  • #53,714
  • Jan 5, 2009 9:36am Jan 5, 2009 9:36am
looks like 3500-3750 area might be a decent consolidation area before another big break comes, to what side i have not a clue yet. noting this pair on a daily chart has batteled in this price area numerous times. april and may of 07, august and sept of 07, and in october of 08 and of course currently.
  • #53,715
  • Jan 5, 2009 9:46am Jan 5, 2009 9:46am
Still holding shorts from 1.3945, 1.3850, 1.3824, 1.3771.
It seem rediculous how some out there always try to call a bottom or top, dont you realize that we could careless if you are correct or not? So stop being a martir, because those dont survive too long.
  • #53,716
  • Jan 5, 2009 9:55am Jan 5, 2009 9:55am
Morning everyone and best of luck for 2009. I just turn on my computer and saw that amazing drop at the Euro open. Can anyone tell me what happened to cause that drop? Thanks.


Quoting iii
Still holding shorts from 1.3945, 1.3850, 1.3824, 1.3771.
It seem rediculous how some out there always try to call a bottom or top, dont you realize that we could careless if you are correct or not? So stop being a martir, because those dont survive too long.
  • #53,717
  • Jan 5, 2009 9:57am Jan 5, 2009 9:57am
Quoting SeaPip
Morning everyone and best of luck for 2009. I just turn on my computer and saw that amazing drop at the Euro open. Can anyone tell me what happened to cause that drop? Thanks.
Well just like any other day, the traders caused the drop. No amount of economic data would move the euro without the traders. The perception is what drives the markets, hence it is exactly what we are seeing on the charts at the moment.
  • #53,718
  • Jan 5, 2009 9:58am Jan 5, 2009 9:58am
Quoting iii
Still holding shorts from 1.3945, 1.3850, 1.3824, 1.3771.
It seem rediculous how some out there always try to call a bottom or top, dont you realize that we could careless if you are correct or not? So stop being a martir, because those dont survive too long.
Blimey...some people are a tad agressive on here....( what is a 'martir' anyway....?!)
  • #53,719
  • Jan 5, 2009 9:59am Jan 5, 2009 9:59am
Happy New Year to all
The best thing that can happen to you is to find out where you're wrong.
  • #53,720
  • Jan 5, 2009 10:00am Jan 5, 2009 10:00am
Quoting linleysound
Blimey...some people are a tad agressive on here....( what is a 'martir' anyway....?!)
Not agressive, just trying to get a fine point accross to newer traders. A martir is a "hero" so to speak.
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