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EURUSD

  • #65,961
  • Feb 17, 2009 5:40pm Feb 17, 2009 5:40pm
Quoting SunTrader
Really, so that is how it works.
Yup
Traders are smartasses
  • #65,962
  • Feb 17, 2009 5:52pm Feb 17, 2009 5:52pm
Quoting Spsantos
Yup
Caged = Zoo
Confined = Safari Park
Protected = National Park
Free = Forex Factory
The Thief of Wall Street
  • #65,963
  • Feb 17, 2009 6:49pm Feb 17, 2009 6:49pm
What's this down business? Who shorted the Euro into oblivion? Ak4x, Chicky, was it you guys? Or was it Trichet busted snorting coke off some Icelandic call girl's backside? Did Berlusconi open his mouth? Has Sarkozy and Merkel finally succumbed to their emotions?

Yes, I'm still out and waiting for a long entry on the daily chart. Now reviewed at 3063. It's far, it's really f@#cking far from happening right now but my entry strategy is reviewed daily for a reason. In time, some will see a method to the madness
Not all sins are created equal
  • #65,964
  • Feb 17, 2009 6:51pm Feb 17, 2009 6:51pm
Like GBP we are retracing.
  • #65,965
  • Feb 17, 2009 6:51pm Feb 17, 2009 6:51pm
Quoting Chicky
Caged = Zoo
Confined = Safari Park
Protected = National Park
Free = Forex Factory
my entry 2500 sl 2440.. if stopped out gonna play by ear.. may jump back in oct low.. area... if it stalls there makes a nice double bottom... but its forex and my brain is female with forex... meaning my mind can change...
those who can, do. those who cant, talk about those who can
  • #65,966
  • Feb 17, 2009 6:55pm Feb 17, 2009 6:55pm
lost 35 pips eu today... but saved a jillion by knowing when to cut my losses and bailing...cut your losers prop up the winners..
those who can, do. those who cant, talk about those who can
  • #65,967
  • Feb 17, 2009 6:56pm Feb 17, 2009 6:56pm
later folks... bbl ..good pippin
those who can, do. those who cant, talk about those who can
  • #65,968
  • Feb 17, 2009 6:56pm Feb 17, 2009 6:56pm
Quoting gatorinla
...cut your losers prop up the winners..
If I did that all the time, I'd have no willy and a foot long tongue
Not all sins are created equal
  • #65,969
  • Feb 17, 2009 7:02pm Feb 17, 2009 7:02pm
Quoting ak4x
Pivots for today from 5pm.

Mind those QP's today... some wide spreads to cover.
Did you get that from FXaccucharts?
"Diversification is an excuse for a lack of talent" ~FXC
  • #65,970
  • Feb 17, 2009 7:04pm Feb 17, 2009 7:04pm
... Are you serious about long at 1.30xx?

I hope you are joking!!
My Long break it is not there!!

Last Post of the day!!

Watch your weekly charts, analyze RSI behavior, see how most important Ema are behaving too!!

Time to Bed!!
  • #65,971
  • Feb 17, 2009 7:08pm Feb 17, 2009 7:08pm
Quoting BoredToLoose
... Are you serious about long at 1.30xx?

I hope you are joking!!
My Long break it is not there!!
Yes I am. Where's yours if I may ask?
Not all sins are created equal
  • #65,972
  • Feb 17, 2009 7:10pm Feb 17, 2009 7:10pm
Quoting BoredToLoose
... Are you serious about long at 1.30xx?

I hope you are joking!!
My Long break it is not there!!

Last Post of the day!!

Watch your weekly charts, analyze RSI behavior, see how most important Ema are behaving too!!

Time to Bed!!
Shorts are not looking too crash hot my friend.

Jay has the same entry point as my pending long, it has been sitting there for the past week. Break of this falling wedge should yield some nice pipage
Attached Image
  • #65,973
  • Feb 17, 2009 7:10pm Feb 17, 2009 7:10pm
Quoting Jay Walker
If I did that all the time, I'd have no willy and a foot long tongue
As you may know Jay I have a habit of being a bit sarcastic and keeping to myself mostly. But I was just curious as to why you feel the USD will weeken and return to the 1.40 levels. I trade longer term than most traders and trade from the daily and weekly chart and look to make at least 200-300 pips a trade, if not more and I haven't seen any evidence warranting a bullish reversal on this currency. If 1.33 resistance was breached with a close on the daily chart above that level, I would look to go long. But under that level I would be short. Also I trade fundamentally, I don't see things turning around in the near future especially with all these job losses occuring I don't see the economy able to recover at least in the near future and the equity markets turning around. How will consumers stimulate the economy? Even if the Stimulus works, which it won't it will take months to take effect. Economic problems in the eurozone seem to be worsening and risk aversion seems to be the dominant factor of trade. It seems risky to me to go long any currency with high interest rates at this time. And by high, I mean higher than are abysmal 0-.25. Fundamentally the more bad news, the more the deepening recession, the stronger the dollar. And at least right now it seems things will stay this way at least for a bit. So what's your case for a strong Euro? It seems a bit foolish. Is it technichal, fundamental, or a hunch? I 'm not tryin to be rude or mean or anything.
  • #65,974
  • Feb 17, 2009 7:16pm Feb 17, 2009 7:16pm
Quoting Jay Walker
Yes I am. Where's yours if I may ask?
All depends where the Bottom will be and for how long we may see this Bearish sentiment and behavior.

Personally I prefer pick the bottom, more workably, but if work profitable!!
But why are you thinking about that now!!
Forget longs for now!!

For the break never below 1.3155, but like I said all depends which time will reach my line.
  • #65,975
  • Feb 17, 2009 7:23pm Feb 17, 2009 7:23pm
Quoting NuckingFuts
Shorts are not looking too crash hot my friend.

Jay has the same entry point as my pending long, it has been sitting there for the past week. Break of this falling wedge should yield some nice pipage
...is not like I was waiting to see for now, but I have a level that must hold to see below 1.2555, let's see!!!
  • #65,976
  • Feb 17, 2009 7:23pm Feb 17, 2009 7:23pm
Quoting Maxsmart
As you may know Jay I have a habit of being a bit sarcastic and keeping to myself mostly. But I was just curious as to why you feel the USD will weeken and return to the 1.40 levels. I trade longer term than most traders and trade from the daily and weekly chart and look to make at least 200-300 pips a trade, if not more and I haven't seen any evidence warranting a bullish reversal on this currency. If 1.33 resistance was breached with a close on the daily chart above that level, I would look to go long. But under that level I would be short. Also...
I'm not the weather man, I read the charts and listen to what they are telling me. Weekly down to the 30 min chart are all showing bullish patterns.

They could be wrong, not saying they are always right, but probabilities are not in favour of shorts at the moment.

Like you, I am not a 20 pip scalper. If I can't see at least 200 pips in a trade, I don't enter. Certainly can't see 200 pips down, yet...

And one of the most important rules I have learnt over the years, yes trade with the trend. But do not enter when reversal signals are present (especially on multiple time frames) as majority of the time they are right.
  • #65,977
  • Feb 17, 2009 7:26pm Feb 17, 2009 7:26pm
Quoting BoredToLoose
...is not like I was waiting to see for now, but I have a level that must hold to see below 1.2555, let's see!!!
Yes, you might see it trickle down to test Oct 08 lows, that is certainly a possibility.

Like I said above, when 4+ time frames are screaming reversal, be very careful!
  • #65,978
  • Feb 17, 2009 7:35pm Feb 17, 2009 7:35pm
Quoting NuckingFuts
Yes, you might see it trickle down to test Oct 08 lows, that is certainly a possibility.

Like I said above, when 4+ time frames are screaming reversal, be very careful!
.... in a lot TF?

Monthly 1.2555 is a Target and bottom line, but I am seeing some things that most traders possible are not counting with that!!!

I am sorry not to reveal all secrets, but I have done my job here to try to help others!!
  • #65,979
  • Feb 17, 2009 7:36pm Feb 17, 2009 7:36pm
this is my newbie view for eu.sorry if i'm wrong
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  • #65,980
  • Feb 17, 2009 7:42pm Feb 17, 2009 7:42pm
Quoting Maxsmart
Even if the Stimulus works, which it won't it will take months to take effect. Economic problems in the eurozone seem to be worsening and risk aversion seems to be the dominant factor of trade.
The stimulus package will not work. I entirely agree with you there. And while the Eurozone does have problems, they are not as bad as the U.S. The Eurozone exports more which in time will help them weather the storm.

Quoting Maxsmart
It seems risky to me to go long any currency with high interest rates at this time. And by high, I mean higher than are abysmal 0-.25.
Keep in mind that I'm not long nor short at this very moment.

Quoting Maxsmart
So what's your case for a strong Euro? Is it technichal, fundamental, or a hunch? I 'm not tryin to be rude or mean or anything.
Two things I want to clarify for your information as well as others wondering what I'm up to.

I also normally trade longer time frames. I won't bore you with the details. Suffice to say that I'd still be in on this weekly short had I stuck to my rules. The long and short of it (no pun intended) is that I got out too early.

To reiterate, I am not in any positions as I'm writing this. I'm not long and I'm not short on this pair or any others for that matter. I hope this will solve some confusion as I have received some PM asking similar questions. So my views at the moment are really "if this pair shoots up 465 pips over the next day, I'm long". You and I both know how likely that is to happen.

The short answer to your question is that my entries are technical. So from a technical standpoint, what is there to justify an entry? Nothing! That's why I haven't entered. I'm waiting for the right time to go long as this pair can't go south forever.

I sincerely hope this helps answering some of your questions. I know other people aside from you are scratching their heads reading my posts thinking "what the...?". If you or anybody has questions on the what, why and how, you're more than welcome to PM me.
Not all sins are created equal
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