EURUSD

So what are we going to have consolidation till the ecb rate cut?http://www.forexfactory.com/images/icons/icon9.gif

sort of what i am worrying about is that i have an open 10 lot sell position at 3135 and it will be bad for me if it goes to 32 or +

http://www.forexfactory.com/images/icons/icon9.gif
Wish I could tell you some good news, but all of my charts show consolidation. Maybe we will see a push down after dow closing?

this is going to be long night for me

Possibly, I can't see anything that will push it down in the short-term. Consolidation is likely.

id becareful. i hope you have a strategic SL plan...

she wavers now,... but i'm still looking south

I can say this. No matter how much it hurts, set you a stop loss, whether it be mental or physical and stick too it. Nothing like turning a big loss into a total disaster!http://www.forexfactory.com/images/icons/icon9.gif

yes yes i putted sl when i opened position its 1.3185

If the rate cut is 0.5%, as expected, the Euro will bounce back up. The market already expects this cut.

I pulled up a chart. Seems you have a decent spot well above the consolidation line. I see that it has touched your spot twice in the last few hours or so.

Strike that!

patience guide me... still holding for down, wibbling like a wassock @3160, have to stay detached from the money.... concentrate on the pips.. should bounce off 3170

where it comes, there it goes.

Important point once again. Look those vertical lines, they are sr levels from the bottom consolidation tops and as you can guess, they act as support. Note that none of these lines are drawn from todays bars or from lower tf chart, all of them are from consolidation tops at daily chart from october-november.

Now we are penetrating a very short term trendline so we might see a top or higher high. If this will be a bottom day, the low is at perfect position (see the long term chart to see why). Also note that spikes of this short term consolidation period are each lower trhan previous one so there is a cluster of stops above each of them (beginning from about ~3195 but there is also some resistance there so there might be a spike or not).

Again, this doesn't mean that we can't go lower, I already moved my sl higher than open very quickly after the opening which I wouldn't normally do before some time.

edit: Some fundie stuff about bernankes speech here for those interested http://globaleconomicanalysis.blogsp...y-in-much.html

this was reached when there was a range trade in 5 min char, after it broke it monumentally (few minutes strong downrun) there were small chance to be touched again before it reach at least 1.31... thats what i thought and opened short 30 pip position ,

0.50 cut uero go up o go down?

It looks like E/U has some decent support at the 1.3150 area.
There is even a small PIN (not the best, but a PIN) on the H1 chart pushing through support (sign of an upward move soon).

I'm flat right now and if it was earlier in the day with bigger money in the game, I'd be looking for longs

Still long at 1.31570. Stop amended to BE and TP is at the Green Line area.

That doji is telling me a repeat of the bars following the previous doji. Signaling a reversal of the down trend even if short term.

nope, that's me cashed out +3, await next move... new balls