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  • #6,981
  • Jan 6, 2009 7:18am Jan 6, 2009 7:18am
Quoting kmouneer
I see the EUR is facing a support zone
I am looking to buy @ 1.3260
what do u see guys??
This area is also a Gartley pattern, adding strength for a bounce. The fundies would tell us that a significanct bounce is not likely however, with the dollar strength and continuing pricing-in of Euro weakness. As ever, conflicting signals. We shall see.

P.S. Don't forget that there is news pending at 10:00 EST too.

SR
  • #6,982
  • Jan 6, 2009 7:22am Jan 6, 2009 7:22am
Quoting seattlerust
This area is also a Gartley pattern, adding strength for a bounce. The fundies would tell us that a significanct bounce is not likely however, with the dollar strength and continuing pricing-in of Euro weakness. As ever, conflicting signals. We shall see.

SR
what is the gartley pattern? just curious
  • #6,983
  • Jan 6, 2009 7:45am Jan 6, 2009 7:45am
A Gartley pattern is a reversal pattern where the swings are (ideally) in Fibonacci ratios. I'd suggest that you check out this link for a short article on the pattern by Larry Pesavento and Leslie Jouflas, IMHO, two of the best practitioners of Fibonacci trading: http://www.tradingtutor.com/free-art...ey_Pattern.pdf

SR
  • #6,984
  • Jan 6, 2009 8:16am Jan 6, 2009 8:16am
Thanks Seattlerust, very helpful
  • #6,985
  • Jan 6, 2009 9:40am Jan 6, 2009 9:40am
Thank you seattlerust
nice article
  • #6,986
  • Jan 6, 2009 7:31pm Jan 6, 2009 7:31pm
Nice buy zone 1.4740-1.4769. Cable has the potential to run-up to the 1.60 level over the next few weeks, so this could be a keeper.
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  • #6,987
  • Jan 7, 2009 8:09am Jan 7, 2009 8:09am
Hello. Havent posted here in a while. Hope you guys caught these nice 300 pips gbp/chf gave on this long setup. Forgot to point out my SL - it was a few pips below 1.6309 - below previous 30m low. I forgot to add the spread to my buylimit order and wasnt filled by 2-3 loosy pips...The same shit happened yesterday with another buylimit i had on geppy that wasnt filled as well because of the spread. I need to learn from my mistakes and i hope i wont continue doing it

Cheers!
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  • #6,988
  • Jan 7, 2009 8:21am Jan 7, 2009 8:21am
Quoting belekas
Hello. Havent posted here in a while. Hope you guys caught these nice 300 pips gbp/chf gave on this long setup. Forgot to point out my SL - it was a few pips below 1.6309 - below previous 30m low. I forgot to add the spread to my buylimit order and wasnt filled by 2-3 loosy pips...The same shit happened yesterday with another buylimit i had on geppy that wasnt filled as well because of the spread. I need to learn from my mistakes and i hope i wont continue doing it

Cheers!
Nice one.

I get very tempted by all these pairs people do well in that I don't monitor, but I get too easily distracted with the few I have already.
  • #6,989
  • Jan 7, 2009 9:25am Jan 7, 2009 9:25am
I am hoping most of the regulars in this thread are still off on a break hence the tumbleweed.

When you do get active again and read this, please make a quick post here just to restore this threads momentum.
  • #6,990
  • Jan 7, 2009 9:29am Jan 7, 2009 9:29am
I am looking at a level on the EUR/GBP at .9020 that price is bouncing off of. Do you agree with going long?
(newbie in training)
  • #6,991
  • Edited 10:17am Jan 7, 2009 9:31am | Edited 10:17am
Quoting 1522dad
I am looking at a level on the EUR/GBP at .9020 that price is bouncing off of. Do you agree with going long?
(newbie in training)
Seems very likely. But, in terms of R/R, the next area of support it will hit is .8980

Edit - Oops I skimmed over the part where you said long. I was thinking it would go south, and it did. I know, how convienent to post after it went my way.
  • #6,992
  • Jan 7, 2009 9:43am Jan 7, 2009 9:43am
If the current 4hr candle closes near the lows of the others quite solidly it could mean a move up.

It is difficult to predict where the expected interest rate cut will start being priced in.
  • #6,993
  • Jan 7, 2009 9:48am Jan 7, 2009 9:48am
Quoting RedCabbage
I am hoping most of the regulars in this thread are still off on a break hence the tumbleweed.
Too bad for them. There ae some nice moves now. Markets seem to be a little more harmonic now that the new year is here. Still, must be very cautious. But, then again, holiday is always good.
  • #6,994
  • Jan 7, 2009 11:04am Jan 7, 2009 11:04am
Quoting RedCabbage
Anyone any views as to whether USDCHF will break 250 and head for 380 or retrace?
Seems it was a classic reversal running to around 300 pips so far, shame I was stopped out.

It's all about the entry.

Someone tell me they got in this one.

I will be looking for a long 10810-10706.

Comments welcome.
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  • #6,995
  • Edited Jan 8, 2009 2:26am Jan 7, 2009 3:00pm | Edited Jan 8, 2009 2:26am
Not a pair I usually trade but this looked interesting.

Long from 8997 following a solid 4hr candle close and a nice little reversal clue. Target is a restrained 9075 jus under support.

GBP has been overbought the last couple of days and of course there's an IR cut expected tomorrow. I will close this before the announcement if it hasn't done already.
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  • #6,996
  • Jan 7, 2009 8:56pm Jan 7, 2009 8:56pm
Hey all,

What I'm watching on the EURUSD right now (I've only been watching the EURUSD lately, given the hours I work and the hours I trade, it's too much a hassle to watch more than 1-2 pairs).

Depending on how things play out, I really like 1.3550, but of course I'm not 'married' to the number if it does inch down there.

Also look at the fib on the latest downtrend during the past few days, the 50% in particular. Right at a 'brick' of orders.
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  • #6,997
  • Jan 7, 2009 9:06pm Jan 7, 2009 9:06pm
price has already come within a whisker of 1.3550--are long or waiting for a re-touch? ( hit 1.3558 )
  • #6,998
  • Jan 7, 2009 9:22pm Jan 7, 2009 9:22pm
I was actually short from 1.3600 before it hit 1.3558, but I ended up letting it hit waiting to see if it would go further south or not (that target was 1.3550 and it obviously didn't hit) and ended up getting out at 1.3580.

I'm waiting for a re-test of that general area, 1.3550/35 in particular.

If it does reach it and bounces, 1.3700 is profit target.
  • #6,999
  • Jan 8, 2009 12:03am Jan 8, 2009 12:03am
aud/jpy at a demand level--considering a long depending on price action. That would be counter trend to the daily so would require tight stop
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  • #7,000
  • Jan 8, 2009 1:59am Jan 8, 2009 1:59am
Quoting smittens4212
Hey all,

What I'm watching on the EURUSD right now (I've only been watching the EURUSD lately, given the hours I work and the hours I trade, it's too much a hassle to watch more than 1-2 pairs).

Depending on how things play out, I really like 1.3550, but of course I'm not 'married' to the number if it does inch down there.

Also look at the fib on the latest downtrend during the past few days, the 50% in particular. Right at a 'brick' of orders.
Well, a rare treat that I'm up for the European open session. Long at 1.3555.
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