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EURUSD

  • #63,061
  • Feb 9, 2009 2:54pm Feb 9, 2009 2:54pm
test
those who can, do. those who cant, talk about those who can
  • #63,062
  • Feb 9, 2009 2:56pm Feb 9, 2009 2:56pm
Quoting Turhovach
In Post 62742 you said "I did sell from 1.2938."

That was at 5:51 AM , NINE hours ago. So what happened to that short? Or (probably) you decided to add to a losing position and shorted again at 1.3044. Wonderful. Like I said, the Fat Lady hasn't sung yet... Sheesh!
see the chart 1 hour
Attached Image (click to enlarge)
Click to Enlarge Name: 123.gif Size: 16 KB
  • #63,063
  • Feb 9, 2009 2:58pm Feb 9, 2009 2:58pm
Quoting Elghoz
see this chart
see the chart 1 hour
  • #63,064
  • Feb 9, 2009 2:58pm Feb 9, 2009 2:58pm
Quoting lindee

Right I've been watching since last week,,,I think we might see some up swing by thurs. maybe and I'm guessing above the 1.4xxx cause the middle of the W is around that area in the cross hairs.
boys
dont get carried away
every long position should be considered counter-trendish and should be invested and traded as a such.
fundamentally speaking euro is still in sell-off mode and should be for quite some time unless the risk is appreciated again or the economy turns green again (very unlikely in the near future)
technically speaking it seems to be in a bottoming process, as you can see double bottoms in TF 30 min and up to Weekly, and divergences all over the place, in long TF.
spikes like the ones in december are very unlikely, due to the volume differences between now and dec.
so, bulls please be very careful and ready to get out at the first signs of weakness, while bears can short at any time any level whatsoever they need only to change their SL if things don't work for them.

gods of the market bless you with money, again, all of you even eghoz
  • #63,065
  • Feb 9, 2009 2:59pm Feb 9, 2009 2:59pm
Quoting gatorinla
test
Better View 4HR. look at the last "W" and the reaction afterwards.
Impressive HUH?
lindee
Attached Image
Let Freedom Ring!
  • #63,066
  • Feb 9, 2009 3:00pm Feb 9, 2009 3:00pm
Quoting lindee

Right I've been watching since last week,,,I think we might see some up swing by thurs. maybe and I'm guessing above the 1.4xxx cause the middle of the W is around that area in the cross hairs.
yeah i said 1.4 and if in the trade that would be great... you can always move tp to the sky..1.4+ is not a bad call.. if it goes...play em like you got em...its not just a double bottom W its got higher highs and lows...this gov crap may be the push its already set up for...lower lows have failed...
those who can, do. those who cant, talk about those who can
  • #63,067
  • Feb 9, 2009 3:03pm Feb 9, 2009 3:03pm
hey that day one is just clutter for the longer one. its preety for a day chart... but you will not see it on the monthly one..
those who can, do. those who cant, talk about those who can
  • #63,068
  • Feb 9, 2009 3:11pm Feb 9, 2009 3:11pm
Equities are up for a rally, this time I think that sell the news won't apply. Investors are seeing a light in the tunnel on top of the bailout.

For that reason the USD should drop, I'm not telling for sure. Of course it could go a little bit higher but only shortly as a technical bounce.

The risk aversion is dead for now!!!

Trade well....
  • #63,069
  • Feb 9, 2009 3:13pm Feb 9, 2009 3:13pm
Quoting lindee
Sorry I got kicked off for a while..anyway here's 2 views
these charts from 08 will tell the story...keep in ming smaller charts build the longer ones...if this right upward leg develops... all the other charts i see people posting is mostly day charts..the direction is in the eye of the chart holder.. either direction may be right depending on the type trader you are.. i use longer charts for trend .. and smaller ones for better entry...
those who can, do. those who cant, talk about those who can
  • #63,070
  • Feb 9, 2009 3:14pm Feb 9, 2009 3:14pm

Well guys,
the session draws to the close and I'm trying to draw technical conclusions.

As for EURUSD I must say that the up move has served ,on the daily basis, to stop the short positions .
What amazes me most is the recovery of USDCHF. Today has a nice shot down (according to me to stop the long positions on daily basis).

I see USDCHF at least at 1.1840 and with the extension to 1.1980 .

Especially today the correlation between EURUSD and USDCHF is not very accurate, but if what I foresee for USDCHF is true then the EURUSD has only to drop by at least 200-300pips.

The best thing that can happen to you is to find out where you're wrong.
  • #63,071
  • Feb 9, 2009 3:15pm Feb 9, 2009 3:15pm
Quoting gatorinla
yeah i said 1.4 and if in the trade that would be great... you can always move tp to the sky..1.4+ is not a bad call.. if it goes...play em like you got em...its not just a double bottom W its got higher highs and lows...this gov crap may be the push its already set up for...lower lows have failed...
do u mean that we will up till 1.4 coz i see that chart in day and week cross and up plz reply
  • #63,072
  • Feb 9, 2009 3:16pm Feb 9, 2009 3:16pm
Quoting gatorinla
hey that day one is just clutter for the longer one. its preety for a day chart... but you will not see it on the monthly one..
I have always traded "W"s, and can totally agree with Gatorinla, this is a very good long setup. There always are retracements after reaching the higher high, so, don't count your Fibs until they are tested

Tomorrow I would expect a very nice move, as Geithner is going to speak about the new rescue plan, and then Bernanke will add some fuel. I suppose, they are serious about pumping up some money into the US economy, so EU is destined to go north - at least short-term.
  • #63,073
  • Feb 9, 2009 3:32pm Feb 9, 2009 3:32pm
after all that...long may be the way.
  • #63,074
  • Feb 9, 2009 3:33pm Feb 9, 2009 3:33pm
Quoting LaughingMan
Who needs a gun? The bounce off the 61.8% Fib retracement and a possible doji forming on the 1 hour made me stop to look both ways before crossing.

Attachment

Edit: First time attaching a chart, took me a while. Maybe going down for another test of 61.8?
Hey there,

This is why I am not taking it

1) Time of day instantly rules anything out, look at how slow price is moving now in comparison to how it was during London session.

2) You are drawing your Fib's incorrectly, they should be placed at Swing highs and lows, unless you use them differently to me.

I am waiting for some concrete direction before putting my money anywhere, "keep my powder dry" as Bemac would say

Also, try plotting a horizontal line on the 1.30 level, that holds far more weight in my opinion than any fibonacci level . . That is just me though

Disclaimer - Not claiming to be a heroic forex trader or anything, just giving you something to think about bro

Trade well either way, hope your long works out
  • #63,075
  • Feb 9, 2009 3:34pm Feb 9, 2009 3:34pm
im not making any call..... "if it develops" is what i said...........watch see... conquer..
those who can, do. those who cant, talk about those who can
  • #63,076
  • Feb 9, 2009 3:35pm Feb 9, 2009 3:35pm
Quoting Elghoz
see the chart 1 hour
Yeah, I see the chart. So what? That arrow is where you went short. Which means you are in a LOSING trade.

You know what? I really don't feel like continuing this discussion. I've had better interaction with my cat. And she only knows one word - Meow....
Attached Image
  • #63,077
  • Feb 9, 2009 3:36pm Feb 9, 2009 3:36pm
I too see the W mentioned before and it does look like a very nice long setup. However, the stimulus plan will be voted on by the senate tommorow. This is the only thing that has driven the markets in my opinion last week and in the past 24hours. While the W is clear cut, lets not forget that "buy the rumor sell the news" is a play market makers have been doing for as long as fundamentals existed. Note that we have slowly climbed up the lows from a week ago but no real momentum has developed yet. This may have been the rumor stage up until the voting is revealed. I would not be too surprised if the "sell the news" comes into play then and we head only south for the rest of the week with new lows in sight. To conclude...any longer term assumptions based on technicals are not really valid until 24 hours from now when the voting results are revealed and the market makers start pushing things hard again..whichever direction that may be. Note that I am still short biased with the W staring me in the face and I play patterns big time
Different opinions highly valued, ignorant to slander.
  • #63,078
  • Feb 9, 2009 3:37pm Feb 9, 2009 3:37pm
Quoting Turhovach
Yeah, I see the chart. So what? That arrow is where you went short. Which means you are in a LOSING trade.

You know what? I really don't feel like continuing this discussion. I've had better interaction with my cat. And she only knows one word - Meow....
  • #63,079
  • Feb 9, 2009 3:38pm Feb 9, 2009 3:38pm
Quoting Jigsaw
Hey there,

This is why I am not taking it

1) Time of day instantly rules anything out, look at how slow price is moving now in comparison to how it was during London session.

2) You are drawing your Fib's incorrectly, they should be placed at Swing highs and lows, unless you use them differently to me.

I am waiting for some concrete direction before putting my money anywhere, "keep my powder dry" as Bemac would say

Also, try plotting a horizontal line on the 1.30 level, that holds far more weight in my opinion than any...
Oh no, I didn't go long. I took my pretend profits (demo) and ran for the door.

I'm still getting the hang of drawing things on my charts. Thanks for the tips.
  • #63,080
  • Feb 9, 2009 3:39pm Feb 9, 2009 3:39pm
Quoting gatorinla
2957/3080 is no mans land
i said this
those who can, do. those who cant, talk about those who can
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