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EURUSD

  • #65,201
  • Feb 15, 2009 6:02pm Feb 15, 2009 6:02pm
Quoting BoredToLoose
http://www.google.com/hostednews/afp...LAtbQGLjJbMaUg
maybe you are right, maybe we are going to reach new lows
  • #65,202
  • Feb 15, 2009 6:08pm Feb 15, 2009 6:08pm
hmmm
Attached Image
  • #65,203
  • Feb 15, 2009 6:12pm Feb 15, 2009 6:12pm
Quoting oldman
hmmm

Too easy chart!!!
  • #65,204
  • Feb 15, 2009 6:13pm Feb 15, 2009 6:13pm
Quoting oldman
hmmm
crazy idea but who knows
  • #65,205
  • Feb 15, 2009 6:14pm Feb 15, 2009 6:14pm
Quoting BoredToLoose
Too easy chart!!!

Maybe yes maybe no !
  • #65,206
  • Feb 15, 2009 6:18pm Feb 15, 2009 6:18pm
anyway
below 1.27 target is 900 pips below
above 1.27 target is 900 pips higher


at least that is my plan

Trade what u see
  • #65,207
  • Feb 15, 2009 6:18pm Feb 15, 2009 6:18pm
OPEC will cut production of oil, it will go up ! Stimulus plan will weaken the $! Euro will not give up so easy! Market is in "dont know mode" ! My point of view!
  • #65,208
  • Feb 15, 2009 6:20pm Feb 15, 2009 6:20pm
starting to fill the gap
  • #65,209
  • Feb 15, 2009 6:21pm Feb 15, 2009 6:21pm
Yeee!
  • #65,210
  • Feb 15, 2009 6:23pm Feb 15, 2009 6:23pm
and 3 th retest of daily low trendline
  • #65,211
  • Feb 15, 2009 6:27pm Feb 15, 2009 6:27pm
I am in for 2 lots at 1.2760... TP at GAP Close
Dr. C
  • #65,212
  • Feb 15, 2009 6:29pm Feb 15, 2009 6:29pm
I'm not too convinced of the re-trace anymore. Maybe some shorting is in order
  • #65,213
  • Feb 15, 2009 6:34pm Feb 15, 2009 6:34pm
I am going short at 1.2900

Then I am going short at 1.3000 if it gets that far

TP - 1.2650
  • #65,214
  • Feb 15, 2009 6:37pm Feb 15, 2009 6:37pm
Interesting open, the gap down landed a few pips or so above my Lower BB from the Friday Close on the 2hr chart, going on to drop as far as S2 on the Sunday pivots I havent' been using much lately. I'm only posting these for rough reference this evening. If it turns out they have some relevance... cool.

FxSol opens now at 5:15pm CST and it's gotten too tedious to double check the HLC data plus large gaps tend to really skew things as a rule. Nevertheless, this still makes for an interesting picture..

One other note on this open before I step away out for the evening to work on a related project, here is a link to a post w/ chart from early Friday morning of last week.

http://www.forexfactory.com/showpost...ostcount=64919

Compare that 2hr chart to this one... You can see the target ((2770ish)) was hit with conviction and the only thing wrong with it was calling it a "Friday target"...

Right Price target, wrong timing. That's one more reason I quit trading the Final Friday Freakshow. Things don't work right in that session and some of my worst trading experiences have been on Fridays.
Attached Image
FUBAR...
  • #65,215
  • Feb 15, 2009 6:41pm Feb 15, 2009 6:41pm
On a friday you can not expect a major move against the daily trend. There are big moves on fridays but only with the daily trend. My experience. What do you think?
/ ... clarifying decisions ... /
  • #65,216
  • Feb 15, 2009 6:45pm Feb 15, 2009 6:45pm
interesting article in the current issue of BusinessWeek entitled "Debt Is Hobbling Europe Inc." Corporate debt in euro zone is more than 11 trillion dollars , equaling 95% of the region's annual output. By contrast U.S. corporate debt is about 50% of the economy.801 billion dollars in european corporate debt matures this year vs. 628 billion in U.S. Average yield on European corporate debt has tripled over the past year even for healthy businesses. That doesn't bode well for the euro dollar or a european recovery any time soon.
  • #65,217
  • Feb 15, 2009 7:03pm Feb 15, 2009 7:03pm
Quoting ak4x

Right Price target, wrong timing. That's one more reason I quit trading the Final Friday Freakshow. Things don't work right in that session and some of my worst trading experiences have been on Fridays.
Bingo - I'm a newb and have been spanked enough on Fridays that I now pretty much refuse to trade. In recent weeks/months there have been a number of stock market rallies that have shot up the Euro catching me out on shorts.
  • #65,218
  • Feb 15, 2009 7:03pm Feb 15, 2009 7:03pm
Quoting PracticalPip
Interesting approach. I usually get into trades in increments. For example, last week I shorted GBP/JPY a second time for the week, this time at the end of the week. I shorted the entire retracement up on each Fib level starting from 38.2% all the way up to the 61.8% (three zones). It then dropped, came back up a bit to test the highs and as I saw it fail, I threw some more shorts at it. It's the smartest way to trade and keeps you from committing your entire max sized position at one price level.

The worst that happens to me in my scenario is...
Have you added yet?
  • #65,219
  • Feb 15, 2009 7:11pm Feb 15, 2009 7:11pm
Bounced off 1.275 twice now.... third times the charm
  • #65,220
  • Feb 15, 2009 7:18pm Feb 15, 2009 7:18pm
Quoting c-note
interesting article in the current issue of BusinessWeek entitled "Debt Is Hobbling Europe Inc." Corporate debt in euro zone is more than 11 trillion dollars , equaling 95% of the region's annual output. By contrast U.S. corporate debt is about 50% of the economy.801 billion dollars in european corporate debt matures this year vs. 628 billion in U.S. Average yield on European corporate debt has tripled over the past year even for healthy businesses. That doesn't bode well for the euro dollar or a european recovery any time soon.
Sounds like worse news for the debt holders. I am not happy with the anchor EUR put on my AUD position. Sounds like strong dollar everyone has talked about may be about to come back in a big way.

Hard for me to accept, but I have to concede, my previous analysis seems wrong. Now what? Back to enjoying my company

GOod luck!

edit: one last thing...other posibility is range bound action is in the cards
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