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EURUSD

  • #61,521
  • Feb 4, 2009 6:14am Feb 4, 2009 6:14am
it seems to me that we will see retracement but how high its hard to tell...

someone can help me?
  • #61,522
  • Feb 4, 2009 6:19am Feb 4, 2009 6:19am
for me its pretty risky to enter a long position, im trading with market sentiment and sentiment still support the dollar
  • #61,523
  • Feb 4, 2009 6:19am Feb 4, 2009 6:19am
Quoting janka3002
it seems to me that we will see retracement but how high its hard to tell...

someone can help me?
I personally expect an eventual retracement at 1.2900/2911 but it seems much more likely to test and,eventually,break 1.2800.Let's see what happen at NY opening session
  • #61,524
  • Feb 4, 2009 6:22am Feb 4, 2009 6:22am
Quoting Legio_Ulpia
I personally expect an eventual retracement at 1.2900/2911 but it seems much more likely to test and,eventually,break 1.2800.Let's see what happen at NY opening session
i suppose we'll end with 1.2790 then a retreacement to to 1.2850s
  • #61,525
  • Feb 4, 2009 6:26am Feb 4, 2009 6:26am
i think that we will stay here till NY opens
  • #61,526
  • Feb 4, 2009 6:40am Feb 4, 2009 6:40am
Maybe its time for B elliot wave - i am for long too
  • #61,527
  • Feb 4, 2009 6:40am Feb 4, 2009 6:40am
Short limit order at 1.2850
Probability Professor
  • #61,528
  • Feb 4, 2009 6:41am Feb 4, 2009 6:41am
Anyone can explain why the EUR is going down big today but not the GBP? I know they have different fundamentals which cause this but normally when 1 goes down, the other will follow but not today.



Quoting janka3002
i think that we will stay here till NY opens
  • #61,529
  • Feb 4, 2009 6:43am Feb 4, 2009 6:43am
Slightly off topic, but felt like I just have to share this with you all.

Placed a short earlier with a stop at 1.28669 (Alpari is 5 digits). Price went up to 1.28668 and retreated back down for 30+ pips. This is a live account, not demo.
Unbelievable, but completely true. I was 0.00001 away from getting stopped out.

I am still amazed and think I need to have a lie down.

Good luck to all.

Dazzer

PS I have no affiliation with Alpari. All brokers are legal criminals and will turn you over for a penny.

PPS. Price has just bounced up from my support line drawn yesterday creating a hammer on the M3. True, candles are less reliable on shorter TFs, but I always at least bank some pips when I see a bullish hammer. We may see some consolidation in the short-term.
  • #61,530
  • Feb 4, 2009 6:46am Feb 4, 2009 6:46am
Be careful of the news in half an hour. ADP Non-Farm Employment Change
  • #61,531
  • Feb 4, 2009 6:48am Feb 4, 2009 6:48am
Woke up to overnite targets hit at the M2 (2920) Took another short from M2 to S1 (2873) and back to bed. The day is done for me. Back for pre asia setups.

Still have portion of one short looking for 25ish... the lower edge of the range I'm looking at for EU for now. We just reentered the upper edge at the mid 28xx's again after that little fling up to the TL.

Will we see it this week...? (It's rhetorical, don't anybody get into a dither over it)
Attached Image
FUBAR...
  • #61,532
  • Feb 4, 2009 6:49am Feb 4, 2009 6:49am
Quoting Algirdas
Explanation USD/CHF Long since 1.1410
http://www.algforex.com/images/stori...fusdchf_1_.wmv
is this usd/chf thread ??
  • #61,533
  • Feb 4, 2009 6:51am Feb 4, 2009 6:51am

I believe that we are too low at this time ..
the cause may have been USDCHF.
But the latter seems to me that went hunting for stops

The best thing that can happen to you is to find out where you're wrong.
  • #61,534
  • Feb 4, 2009 6:51am Feb 4, 2009 6:51am
Quoting pipmyride
is this usd/chf thread ??
EUR/USD and USD/CHF are correlated. Therefore, they go hand in hand. It is good to look at this currency pair as well.
Probability Professor
  • #61,535
  • Feb 4, 2009 6:56am Feb 4, 2009 6:56am
Quoting Galation
EUR/USD and USD/CHF are correlated. Therefore, they go hand in hand. It is good to look at this currency pair as well.
All currency is correlated if you look at it that way.
  • #61,536
  • Feb 4, 2009 6:57am Feb 4, 2009 6:57am
Curious... I just noticed price stopped to the pip on my ((workhorse)) 20m trading chart and is now retracing back to the same from 2820...

That was the opening price or Central Pivot from yesterday's session (5pm EST Monday afternoon). That level has no technical relevance today that I know of.

I forgot to remove it yesterday and it was still on the chart. This bizness never ceases to amaze me.
Attached Image
FUBAR...
  • #61,537
  • Feb 4, 2009 6:59am Feb 4, 2009 6:59am
Quoting Driver55

I believe that we are too low at this time ..

the cause may have been USDCHF.

But the latter seems to me that went hunting for stops

I'm expecting to reach 1.2801, then it will decide to carry on down or retrace.

Good Trading.
Good Trading. (keep it simple).
  • #61,538
  • Feb 4, 2009 7:02am Feb 4, 2009 7:02am
Quoting TIckerShuffl
All currency is correlated if you look at it that way.
They are, that is true. But some currency pairs are like sisters to each other. Like the GBP EUR used to be highly correlated.

The EUR/USD and USD/CHF follow eachother closely.
Attached Image (click to enlarge)
Click to Enlarge Name: HEdge1.png Size: 43 KB
Probability Professor
  • #61,539
  • Feb 4, 2009 7:02am Feb 4, 2009 7:02am
Quoting Jasper
I'm expecting to reach 1.2801, then it will decide to carry on down or retrace.

Good Trading.
Before it decides it will more than likely go sideways for some considerably ammount of time.

Good Trading.
Good Trading. (keep it simple).
  • #61,540
  • Feb 4, 2009 7:02am Feb 4, 2009 7:02am
Quoting Jasper
I'm expecting to reach 1.2801, then it will decide to carry on down or retrace.

Good Trading.

At 1,2830 we are on a weeky trendline

EDIT Sorry.. I mean on a daily trendline
The best thing that can happen to you is to find out where you're wrong.
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