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EURUSD

  • #69,881
  • Feb 27, 2009 10:20am Feb 27, 2009 10:20am
I love fridays... who not ?
  • #69,882
  • Feb 27, 2009 10:22am Feb 27, 2009 10:22am
Quoting SunTrader
How about I do the opposite of that.
LOL
  • #69,883
  • Feb 27, 2009 10:23am Feb 27, 2009 10:23am
[FED'S BULLARD] St. Louis President Bullard is speaking to same monetary forum where a research paper on oil, inflation and monetary policy is being discussed. He like others blames the huge oil rise as contributing to the start of the sharp downturn in the economy last year. He also thinks the Fed needs to do a better job in measuring inflation as just looking at core can undermine its credibility. Finally, he expects oil price to rise over the long-run.
those who can, do. those who cant, talk about those who can
  • #69,884
  • Feb 27, 2009 10:24am Feb 27, 2009 10:24am
Do not be greedy Mike!!!

I am going to beach now!!! IUPIIII!!!
  • #69,885
  • Feb 27, 2009 10:25am Feb 27, 2009 10:25am
holy mother of god...all I have to say is that I was short from 1.2732

LOL
  • #69,886
  • Feb 27, 2009 10:27am Feb 27, 2009 10:27am
Amazing !!!!
Unbelieveable !!!

OH MY GOD .... i guess we just could say: This is forex
  • #69,887
  • Feb 27, 2009 10:27am Feb 27, 2009 10:27am
Quoting Jack Herer
holy mother of god...all I have to say is that I was short from 1.2732

LOL

is the exit the important thing... not the entry
  • #69,888
  • Feb 27, 2009 10:29am Feb 27, 2009 10:29am
Right now. Yep, the prof. traders know what they are going to do with this next week, and are spiking it down for more building of long positions...IMHO.
  • #69,889
  • Feb 27, 2009 10:30am Feb 27, 2009 10:30am
Quoting T.E.Lawrence
...and Stop Losses are for sissies! SISSIES!!!

I think that SL would help in this case
  • #69,890
  • Feb 27, 2009 10:30am Feb 27, 2009 10:30am
anyone dont want to use SL ?
  • #69,891
  • Feb 27, 2009 10:31am Feb 27, 2009 10:31am
Was more than I can afford in my MM!!

STUPID, STUPID, STUPID.

If I didn't I was out for the rest of the week!!
  • #69,892
  • Feb 27, 2009 10:33am Feb 27, 2009 10:33am
So I missed the whole thing. I will feel bad later. But I would like to know what was the logic behind that roller coaster?
  • #69,893
  • Feb 27, 2009 10:33am Feb 27, 2009 10:33am
??
Attached Image
  • #69,894
  • Feb 27, 2009 10:33am Feb 27, 2009 10:33am
[FX WEEK AHEAD] The RBA has flagged that further rate cuts remain an option. With near term prospects for the global economy remaining weak, rates could be cut another 50bps to 2.75%. For the ECB, Trichet has guided markets for a March cut. Odds are stacked for 50bp.
those who can, do. those who cant, talk about those who can
  • #69,895
  • Feb 27, 2009 10:38am Feb 27, 2009 10:38am
I didn't plan on trading today, but when I saw that jump down in Price I had to get on board for a Short. Entered at 1.2672 out half position at 1.2636. Will most likely close remaining half in the next minute if this little move continues to look like it is done. Stop loss at +2 so I can't get hurt either way.
  • #69,896
  • Feb 27, 2009 10:38am Feb 27, 2009 10:38am
Quoting gatorinla
[FX WEEK AHEAD] The RBA has flagged that further rate cuts remain an option. With near term prospects for the global economy remaining weak, rates could be cut another 50bps to 2.75%. For the ECB, Trichet has guided markets for a March cut. Odds are stacked for 50bp.
So, the professional traders (likely at hedge fund[s]) said, "Hey, what a perfect excuse to slam this down. Let's do it!" Now they are buying low. Next week they will come out with something to the effect..."Well, actually, we really don't think anything the ECB does is going to much affect ...(blah, blah, blah), so we are BULLISH....."

And up it will go, just like they plan.
  • #69,897
  • Feb 27, 2009 10:40am Feb 27, 2009 10:40am
Out second half of position at 1.2650. Time to call it a week.
  • #69,898
  • Feb 27, 2009 10:40am Feb 27, 2009 10:40am
Quoting gatorinla
[FED'S BULLARD] St. Louis President Bullard is speaking to same monetary forum where a research paper on oil, inflation and monetary policy is being discussed. He like others blames the huge oil rise as contributing to the start of the sharp downturn in the economy last year. He also thinks the Fed needs to do a better job in measuring inflation as just looking at core can undermine its credibility. Finally, he expects oil price to rise over the long-run.
No surprise here for the FED to try to deflect the blame elsewhere, like oil price. And they think we beleive that...
  • #69,899
  • Edited 10:45am Feb 27, 2009 10:42am | Edited 10:45am
Quoting traderathome
Right now. Yep, the prof. traders know what they are going to do with this next week, and are spiking it down for more building of long positions...IMHO.
do agree
look at the volume too
and the gold chart

am positioning myself based on these assumptions too
  • #69,900
  • Feb 27, 2009 10:44am Feb 27, 2009 10:44am
One Hour
There is a possible Range Shift occurring on the RSI. Price convincingly broke the 40 range level at 3:00am EST and then hit a lower level at 9am EST. Price tried to test the 40 at 10am but failed and is currently before the close pointing down.
Moving Averages are down (9SMA & 45 EMA) on price and RSI
The last Negative Reversal that began on 2/25/09 and 2/26/09 with a target of 1.2672 has been hit. Momentum appears to still be to the downside.
Fibonacci Confluence

Daily
RSI Range has been between 50 and slightly less than 30 from early January.
Moving Averages are sideways on the RSI and down on price.
Reversals - A 17 period Negative Reversal completed on 2/24 with a target of 1.2335.

My opinion only
Paul
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