EURUSD

Ok, position closed. Good night everyone.

where did you get the info that the rate cut was half a percent cut?

nt. was your sl at 75 hit?

I'm going to continue holding shorts.

3411 and 3228 I'm trailing so I'm not too concerned!

Have a good one!

hrmm. movement has broken my custom triangle shape. Gregam, i have a feeling this will touch 70% retracement for the day... whats your take on it?

I do too.

But I am undeterred in my position. I shall continue holding!http://www.forexfactory.com/images/icons/icon10.gif

No, I manually closed them. I went long at 1.31560 and then again at 1.31570.
When it looked like it was working out, I amended one to BE and the other to +1. Worse case scenario, I get 1 pip. You can see from the green dashed line and the red one on the chart.
I made a promise to myself to take profit at the green line as it is likely that price will bounce off it. I was worried a trailing SL would get whipped as the green line looked a certainty.
Also we are not a million miles away from today's open at this point.

Good luck to all

Dazzer

She was a polemic and misunderstood trend.
Although she made many people happy.
EurUsd has passed away today since she touched 1.3451.
We are expecting a quickly resurrection.

Will watch the end of the Chelsea game though

You can see here, on ForexFactory, that the expected rate, "Minimum Bid Rate" is 2.00%, half a percent less than today's 2.50%.
This estimation also appears on other sites.

Sorry for the delay, just got home.

Simple answer, the one's that make you pips. I'd say you need to know the direction of the daily and/or expected session trend for the big picture, the 2hr ((or maybe even 4hr)) for the intra session picture, and an appropiate entry point in that direction. Then know what will determine your exit and you're on solid ground to mix, match, add and subtract things as you gain a feel for the market, and you'll know whether they are helping or getting in the way.

I'm curious how many pairs you traded or watch at a time when you were on your quest, and if multiple pairs, did you use all those indi's on evrything?? I have some specific indi's and techniques that I swear by on the yen that are less reliable on the yoorow, and vice versa, so that comes into play as well.

Most critical is to pick one pair and study it, know what makes it move and what's going on with it as best you can. What other pair(s) correlate to it and when... What indi's work well with it and not, you get the pic. When you have that body of info down, then you own it, or that portion of it anyway, and nothing you read here or anywhere else will sway you as easily.

You'll still make bloopers but they'll ADD to your body of experience, instead of creating frustration and discouragement, becuz YOU'LL be able to critique your ownself as you move forward.

Specifically to your question tho, I'd suggest ((on the eu pair)) basic daily pivots calculated from 5pm EST and displayed on at least the 15m chart, a simple swing fib on the 1hr or 4hr if ranging within previous Hi/Lo's and/or the previous daily Hi/Lo if new ones were made.

You could add any significant horizontal S/R levels that have been proven by PA, and/or any angled TL's appropriate to the TF you're trading on, but I don't use those ((angled)) near as much as I used to as PA is what it is now, and they distract me unless on higher TF's. Watch how price respects those basic tools, and trade that until you "get it". Over time you can add anything else that you feel adds to your account, but as with most things, "Less is more"...

The few simple tools I mentioned above have this advantage. THEY DO NOT LAG. I've disputed this with several people in the past, and won't do it again, but a line that is on my chart LONG BEFORE price ever gets to it, is not a lagging indicator but a fixed point.

If price ignores it, then I usually dismiss it for that session and look for what else is going on, which in itself is information. Sometimes that means I'm sidelined for awhile. If price respects it and reacts as I anticipate it will, then it's doing it's job, and all is well in the universe.

That's as simple as I know how to make it. There is ample info from great sources out there on those things, and they're simple to use. What's not to like? If you've never checked out acumen's website, you should do so. Many people have found it helpful with pivots and such. Cobra has done a great job as well from the THV thread on his website, altho I haven't gone all the way thru it yet.

Very helpful and almost never mentioned here are the first two stickies on right here at FF in the Rookie Discussion forum. I make it a point to go and roam a'rd there when from time to time.

Here's a small snippet of one of my charts with EVERYTHING lit up... I only look at 2 things on there 90% of the time. The rest are for reference and usually hid unless actively trading it... Believe it or not, each of those lines have a specific purpose. It goes w/o saying that when I'm trading that chart, I'm not posting on this thread. Alternatively, I can and usually do trade that chart with only 1-3 indicators actually showing.

The bottom line is "Know Your Tools."

Look how different the charts are. Are we looking at the same pair and timeframe??

No doji on this one.

Edit: Ooops, I think we are on slightly different timeframes. This is GMT+1, which should explain it. Sorry about that, its late...

Hmmmm

its moving so slow!

EUR/USD's fall resumes after brief recovery and dives to as low as 1.3096 in early US session. At this point, intraday bias remains on the downside as long as 1.3343 minor resistance holds. As discussed before, consolidation from 1.2329 has possibly completed at 1.4719 already. Further decline should be seen to 1.2549 support first then retest 1.2329 low. On the upside, above 1.3343 will turn intraday outlook neutral first. But break of 1.3796 resistance is needed to indicate that fall from 1.4719 has completed. Otherwise, short term outlook remains bearish.

Thank you AK, that the best answer I could expect. I'll check cobra, acumen and the Rookie discussion.

Good night all.

Action Insight Mid-Day Report 1-14-09
EUR/USD's fall resumes after brief recovery and dives to as low as 1.3096 in early US session. At this point, intraday bias remains on the downside as long as 1.3343 minor resistance holds. As discussed before, consolidation from 1.2329 has possibly completed at 1.4719 already. Further decline should be seen to 1.2549 support first then retest 1.2329 low. On the upside, above 1.3343 will turn intraday outlook neutral first. But break of 1.3796 resistance is needed to indicate that fall from 1.4719 has completed. Otherwise, short term outlook remains bearish.

damn, i hate myself. i should've took position at 18. grrr. i need to refocus my pessimism.

my triangle is running out of room. might be time to redraw again..