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  • #8,241
  • Feb 4, 2009 4:17am Feb 4, 2009 4:17am
Quoting Shermenator
Pay attention to the eurusd for longs near support...

Attachment
I tried at 1.2920, but it shot up at 1.29222 . So I'm not looking to trade it anymore. Instead, I'm short on the EURGBP ( at 0.9 ).
  • #8,242
  • Feb 4, 2009 4:21am Feb 4, 2009 4:21am
Quoting Shermenator
Pay attention to the eurusd for longs near support...

Attachment
Shermenator - I take it that the (Fib?) levels you call Support Long, Pivot and Break are 38.2, 50 and 61.8 %? And are they what you use to enter the trade and set your stop loss?

If so, that means you are long the Euro at the moment?
RegardsPaul Eamonn
  • #8,243
  • Feb 4, 2009 4:24am Feb 4, 2009 4:24am
Quoting PaulEamonn
Shermenator - I take it that the (Fib?) levels you call Support Long, Pivot and Break are 38.2, 50 and 61.8 %? And are they what you use to enter the trade and set your stop loss?

If so, that means you are long the Euro at the moment?
yep its 38.2, 50,61.8 and I am not long yet it just show me the market conditions
  • #8,244
  • Feb 4, 2009 4:29am Feb 4, 2009 4:29am
Quoting Shermenator
yep its 38.2, 50,61.8 and I am not long yet it just show me the market conditions
So, if you don't mind me asking, where in that lot would you be looking to enter? Or is that dependant on the market action in the lower time frames when those areas are approached?

And, one more! - which of those levels would you consider to be the most important? Or do you have certain lower time frame requirements and, if they are met at any of the levels, you take the trade?
RegardsPaul Eamonn
  • #8,245
  • Feb 4, 2009 4:33am Feb 4, 2009 4:33am
Anyone looking at 1.4950 level for this pair?
  • #8,246
  • Feb 4, 2009 4:33am Feb 4, 2009 4:33am
USDCAD approaching demand?
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 32 KB
  • #8,247
  • Feb 4, 2009 4:35am Feb 4, 2009 4:35am
Quoting bumasoft
USDCAD approaching demand?
When trying to choose levels from the 1 hour ...I would suggest that you confirm it from the 4 hour chart...meaning if it looks like a level a higher timeframe will also trade and then you would increase your chance at being correct.....
  • #8,248
  • Feb 4, 2009 4:37am Feb 4, 2009 4:37am
Quoting Shermenator
When trying to choose levels from the 1 hour ...I would suggest that you confirm it from the 4 hour chart...meaning if it looks like a level a higher timeframe will also trade and then you would increase your chance at being correct.....
Got it. I see demand on the H4 also. So it could be a nice level.
  • #8,249
  • Feb 4, 2009 5:07am Feb 4, 2009 5:07am
Possible sell USDJPY 8935-8947
  • #8,250
  • Feb 4, 2009 5:09am Feb 4, 2009 5:09am
Quoting RedCabbage
Possible sell USDJPY 8935-8947
Nice one. I think we will have a sell on EURO today at 1.2900 - 1.2935 also, judging by current price action and the fact that I'm short EURGBP and it's going ok.

PS: And maybe a buy on the EURO at 1.2800 ( or sell 1.2900, exit at 1.2800 )
  • #8,251
  • Feb 4, 2009 5:17am Feb 4, 2009 5:17am
What do you guys think a target should be for my short on the EURGBP at 0.9? Maybe 0.8935 ? Or 0.8870 ?

Never mind, I closed at 41 pips, though I think 0.8835 would have been touched.
  • #8,252
  • Feb 4, 2009 5:29am Feb 4, 2009 5:29am
Quoting bumasoft
What do you guys think a target should be for my short on the EURGBP at 0.9? Maybe 0.8935 ? Or 0.8870 ?

Never mind, I closed at 41 pips, though I think 0.8835 would have been touched.
Well I'll hang my ar$e out in the wind to get shot at. I reckon you've already missed the bottom. It happened at 8941. Next stop is that little consolidation at 9220.
RegardsPaul Eamonn
  • #8,253
  • Feb 4, 2009 5:31am Feb 4, 2009 5:31am
Quoting PaulEamonn
Well I'll hang my ar$e out in the wind to get shot at. I reckon you've already missed the bottom. It happened at 8941. Next stop is that little consolidation at 9220.
My short was opened at 0.8995 and I closed it at 0.8955, for 40 pips. So I guess that was a good call. Though I don't think 0.8941 is really the bottom...
  • #8,254
  • Feb 4, 2009 5:32am Feb 4, 2009 5:32am
Quoting bumasoft
What do you guys think a target should be for my short on the EURGBP at 0.9? Maybe 0.8935 ? Or 0.8870 ?

Never mind, I closed at 41 pips, though I think 0.8835 would have been touched.
Good job. Following on from the candle closes, the way the 10am candle closed to a pin is another bearish sign and confirmed your trade was on.
  • #8,255
  • Feb 4, 2009 5:34am Feb 4, 2009 5:34am
Quoting RedCabbage
Good job. Following on from the candle closes, the way the 10am candle closed to a pin is another bearish sign and confirmed your trade was on.
Yes, that added to my confidence and made me stay in the trade. Thanks. I just earned myself a pizza. LOL
  • #8,256
  • Feb 4, 2009 5:39am Feb 4, 2009 5:39am
Quoting bumasoft
My short was opened at 0.8995 and I closed it at 0.8955, for 40 pips. So I guess that was a good call. Though I don't think 0.8941 is really the bottom...
............and rule numbe 7 should be -

Never, never, never listen to me. What the hell do I know? I'm just a silly old man who comes in here because it's warmer than my local library!!
RegardsPaul Eamonn
  • #8,257
  • Feb 4, 2009 5:41am Feb 4, 2009 5:41am
Quoting RedCabbage
Good job. Following on from the candle closes, the way the 10am candle closed to a pin is another bearish sign and confirmed your trade was on.
RC - would that be a reference to a 'Pinoccio bar'?
RegardsPaul Eamonn
  • #8,258
  • Feb 4, 2009 5:41am Feb 4, 2009 5:41am
Quoting PaulEamonn
............and rule numbe 7 should be -

Never, never, never listen to me. What the hell do I know? I'm just a silly old man who comes in here because it's warmer than my local library!!
LOL. That's not true. You've given me good advice. And it's very possible that you are right about that bottom, given the fact that also EURUSD hit a support at 1.2841 (you can see it better from the M15) and the EURGBP is just hanging there...
  • #8,259
  • Feb 4, 2009 6:03am Feb 4, 2009 6:03am
Anyone looking to buy the euro near 1.2800 ?
  • #8,260
  • Feb 4, 2009 6:50am Feb 4, 2009 6:50am
Is today's ADP news as important as Friday's announcement?
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