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EURUSD

  • #57,901
  • Jan 21, 2009 11:00am Jan 21, 2009 11:00am
Quoting junglelion
Ok, I see the blood, I will not trade for now.

Good decision on not trading anything today.
The best decision you can make at the moment
  • #57,902
  • Jan 21, 2009 11:01am Jan 21, 2009 11:01am
Quoting Kess.
Double bottom formed at 1.2844 level, so I am expecting bounce back at 1.3000

I see no relevant reason today for this pair go below 1.2840, so in long positions SL should be set in 1.2820-2830 levels.
A reason could be that there are stops
/ ... clarifying decisions ... /
  • #57,903
  • Jan 21, 2009 11:01am Jan 21, 2009 11:01am
Quoting Algirdas
EUR/USD we took 1/4 more 150 of profit and we do Hold on 1/2 of trade EUR/USD Short since 1.3017.
Hi Algirdas
Do you see an exit price?
Thank you
  • #57,904
  • Jan 21, 2009 11:04am Jan 21, 2009 11:04am

Guess i will just shut the pc off... looks like an out of control fire hose right now.
  • #57,905
  • Jan 21, 2009 11:05am Jan 21, 2009 11:05am
Quoting walb99
A reason could be that there are stops
Sure, could be, but anyway, it was only 30pips+ trade. Better then nothing, but now after SL'ed need to wait to place another position.
Wish you a lot of great moments with those you love.
  • #57,906
  • Jan 21, 2009 11:05am Jan 21, 2009 11:05am
Oh look down it goes, not rocket science.
The indecision in the market is designed to confuse and whipsaw you out.
Looks like thats exactly what happened this afternoon.

Watch S1 for potential bottom today, around the 800 round number
  • #57,907
  • Jan 21, 2009 11:05am Jan 21, 2009 11:05am
1.2803 possible stop!!
  • #57,908
  • Edited 11:21am Jan 21, 2009 11:07am | Edited 11:21am
Quoting joelpips
Again Black or white? That's it?
Great!! scalping is the most structure and amazing trading style.
So what? Do I have to use it? Is that the only way?
NO...NO...NO...and NO
My point is that there is not an absolute true.
Thomas Khun said it and it's something that you can see everyday.
I can be ignorant about trading but learning and improving what is done is just necessary. So you stay in your way and showing off.
Dont flood or distract the thread with no sense. calling people teens

Added joelpips to FF iggy bin 0.65 Ignore list of 31 lamers on wednesday, january, 22, 2009 at 12:08:19 PM
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #57,909
  • Jan 21, 2009 11:08am Jan 21, 2009 11:08am
I wouldnt be suprised to see the floor fall out of this right around now though, with a bottom of ~ 1.2720
  • #57,910
  • Jan 21, 2009 11:09am Jan 21, 2009 11:09am
Quoting Wave Surfer
I worked there at one time.
And why do I doubt, hmmm?

If you did then why did you post what you did?
  • #57,911
  • Jan 21, 2009 11:10am Jan 21, 2009 11:10am
I had long order on 2820 I missed it in 3 pips, lol, whatever, this is usual situation, but it could be fine I stop count missed oportunities, market will give another
Wish you a lot of great moments with those you love.
  • #57,912
  • Jan 21, 2009 11:12am Jan 21, 2009 11:12am
Quoting junglelion
I am a newbie here, could anyone tell me where eurusd is going to

It'll go up, then down, then up again, and so on and so forth ..
  • #57,913
  • Jan 21, 2009 11:12am Jan 21, 2009 11:12am
Hey it seems like last Wednesday was a choppy day to...

Is this typical Mid-Week behavior?
  • #57,914
  • Jan 21, 2009 11:15am Jan 21, 2009 11:15am
Quoting Kess.
I had long order on 2820 I missed it in 3 pips, lol, whatever, this is usual situation, but it could be fine I stop count missed oportunities, market will give another
Bad you have missed that long entry!!
  • #57,915
  • Jan 21, 2009 11:17am Jan 21, 2009 11:17am
does anyone have idea what eur usd will do now coz i did buy from1.2973 and dont know what to do
  • #57,916
  • Jan 21, 2009 11:18am Jan 21, 2009 11:18am
For short term traders, which I am not, seems the trend is pretty clear on a 1 minute chart since 9:35am EST:
Attached Image (click to enlarge)
Click to Enlarge Name: EU1m.gif Size: 60 KB
  • #57,917
  • Jan 21, 2009 11:18am Jan 21, 2009 11:18am
pretty nasty PA for the most part.. looking at 30M chart the wicks are longer than the bodies for the past few hours or so.. and wicks on both ends.. I still think were heading down.. but to enter you need to have fairly wide stops at least at this point.. maybe we get back up near the daily pivot again.. or 2900 might be an ok entry with wide enough stop and small enough position..

waiting and watching.. should have just hung on to my earlier short.. but finally lost patience after we ranged for so long
  • #57,918
  • Jan 21, 2009 11:20am Jan 21, 2009 11:20am
Quoting SunTrader
And why do I doubt, hmmm?

If you did then why did you post what you did?
Don't take this wrong, but ...

1. Don't take this wrong, but, I don't really care what you think. I don't know you. I will never meet you. You are not part of my life.

2. What I did is none of your business

It's just a fact. You can take it or leave it for what it's worth. Don't take it wrong.
  • #57,919
  • Jan 21, 2009 11:22am Jan 21, 2009 11:22am
Quoting andys0506
As predicted its heading down, you guys are hilarious. Listen, the market will play on your emotions, take out stops only then to reverse in the direction you originally were in. Don't be looking at charts below 1hr timeframe (unless purely for pinpointing an entry) The hourly chart and daily charts will show you the trend. Retracements are normal and to be expected, don't treat them as possible reversal points - use them for better entries.
Thank you for the good advice, I checked my charts again, and yes, you are right. And the MA signals are mimiced by MACD also. Perfect.
/ ... clarifying decisions ... /
  • #57,920
  • Jan 21, 2009 11:23am Jan 21, 2009 11:23am
Quoting Elghoz
does anyone have idea what eur usd will do now coz i did buy from1.2973 and dont know what to do

You didn't close that trade yet?

Maybe close it at 2900..

The good news is stochastics is curling up on 30M chart and 5M chart.
also the weekly S2 is below current price and we just bounce off of it once.

The bad news is
1. your against the trend in a countertrend trade
2. There are many moving averages between price and your entry
3. There is a weekly and daily pivot between price and your entry
4. There is a long term Fib between price and your entry..
5. we just made new low for the day and broke below the standing range


Your choices are Either close now and accept the loss.
2. sit through a LOT more pain and hope it heads back up.. and eventually it will BUT will your nerves and account margin hold up?
3. Open up a short position and hedge yourself.. looking for a more likely reversal.. because right now its not looking good..

Not sure if this was helpful.. but I think we have all been in the same position.. teaches us a good lesson about money management.. assuming we live through it
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