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  • #70,081
  • Mar 1, 2009 5:48pm Mar 1, 2009 5:48pm
Anyone notice the round bottom forming on daily for crude? Seems to be loosing momentum down and could support the euro this week if a breakout occurs.
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  • #70,082
  • Mar 1, 2009 5:49pm Mar 1, 2009 5:49pm
Quoting kommo
I guess there is need to be a bit watchful now.


I wish all a "green" account history!
I qoute one good site - Support at level 1.2590 and the pair will most likely be testing level of resistance 1.2850 rather than updating a next low. Other main pairs speak in favor of dollar's dropping for 200 pips during this week!
I guess there's no need to say this again!
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  • #70,083
  • Mar 1, 2009 5:53pm Mar 1, 2009 5:53pm
the direction will be decided in the London session
this aussie session is the extension of friday cool-off

i see only bears here,
that means,
this is the time to go long @ 1.2590 SL 1.2540 ,
and go to sleep
  • #70,084
  • Mar 1, 2009 5:54pm Mar 1, 2009 5:54pm
Quoting bebop
I'm pretty sure this pattern has played out exactly before ( of course I can't find it!), with price heading due south from here. This should be good until 1.2200 as stated earlier. Might be a 50 pip gap down by Asian open, not so sure it will get filled before 1.2200 either.

So far so good, shorts.
  • #70,085
  • Mar 1, 2009 6:03pm Mar 1, 2009 6:03pm
Quoting Forbes55
I qoute one good site - Support at level 1.2590 and the pair will most likely be testing level of resistance 1.2850 rather than updating a next low. Other main pairs speak in favor of dollar's dropping for 200 pips during this week!
I guess there's no need to say this again!
I also think so, but......it seems there is too much pressure on EURO. But I exprect a change soon.


I wish all a "green" account history!
  • #70,086
  • Mar 1, 2009 6:08pm Mar 1, 2009 6:08pm
Bought @ 1.2595, target 1.2660, no stop for now, to fill up the gap from Friday
New voice message: Why are you calling me? If I need you, I'll call you!
  • #70,087
  • Mar 1, 2009 6:12pm Mar 1, 2009 6:12pm
Quoting KillerWhale
Bought @ 1.2595, target 1.2660 to fill up the gap from Friday

That's a pretty risky trade right now, IMO. Gaps do usually get filled, but not always right away, and there's a decent chance of price heading much lower before closing the gap.
  • #70,088
  • Mar 1, 2009 6:15pm Mar 1, 2009 6:15pm
Quoting KillerWhale
Bought @ 1.2595, target 1.2660, no stop for now, to fill up the gap from Friday
I don't see that trade taking place right now - too early for me. I do see some divergence but not enough for me to go long.
  • #70,089
  • Mar 1, 2009 6:17pm Mar 1, 2009 6:17pm
It's about to hit the lower TL of a giant triangle on Monthly.
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  • #70,090
  • Mar 1, 2009 6:19pm Mar 1, 2009 6:19pm
Quoting bebop
That's a pretty risky trade right now, IMO. Gaps do usually get filled, but not always right away, and there's a decent chance of price heading much lower before closing the gap.
I know, but i'm pretty sure the gap will fill up this week, and if it goes really down I'll hedge.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #70,091
  • Mar 1, 2009 6:20pm Mar 1, 2009 6:20pm
Made the same trade KillerWhale and REGRETTING it!!

Based on a 90% gap closure well 50% so @1.2640 target for me, but much lower and I'll be SL'd to watch it work no doubt



Would take more, back to 1.2900 would make my day
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #70,092
  • Mar 1, 2009 6:26pm Mar 1, 2009 6:26pm
Quoting KillerWhale
I know, but i'm pretty sure the gap will fill up this week, and if it goes really down I'll hedge.
Hedge from 1.2582 short
New voice message: Why are you calling me? If I need you, I'll call you!
  • #70,093
  • Mar 1, 2009 6:30pm Mar 1, 2009 6:30pm
Quoting bebop
So far so good, shorts.
Yup no matter how many arrows are drawn pointing upward PA just seems to keep going down.
  • #70,094
  • Mar 1, 2009 6:40pm Mar 1, 2009 6:40pm
Quoting SunTrader
Yup no matter how many arrows are drawn pointing upward PA just seems to keep going down.

I honestly don't see any other reason right now for going long other than the gap. The best for me is to stay short for now. 1.2200 still looks likely this week. As always, will be watching the 1-minute for any pullbacks, to make sure that they are just indeed a pullback and not a large reversal.
  • #70,095
  • Mar 1, 2009 6:41pm Mar 1, 2009 6:41pm
Quoting KillerWhale
I know, but i'm pretty sure the gap will fill up this week, and if it goes really down I'll hedge.

Last Sunday's open was similar where it opened and traded lower (not this extreme) then look at last Sunday's 8:00 PM EST candle was almost + 200.

I think the trend lower continues but hourlies are a bit over sold for me and I will have to wait from my dials to reset a bit. Ive traded both ways last couple of weeks with the range being generous to bad entries because the range held and revisted top and bottoms numerous times each

The big question is this. The EU crisis summit or what ever the heck they called it resulted with the Majors telling Eastern Europe they are on their own. What does this mean for the Euro?
+ Charts Happen
  • #70,096
  • Mar 1, 2009 6:45pm Mar 1, 2009 6:45pm
Quoting Passholder
The big question is this. The EU crisis summit or what ever the heck they called it resulted with the Majors telling Eastern Europe they are on their own. What does this mean for the Euro?
That's a question that doesn't have a reliable answer concerning which way to trade.
  • #70,097
  • Mar 1, 2009 6:45pm Mar 1, 2009 6:45pm
Quoting bebop
I honestly don't see any other reason right now for going long other than the gap. The best for me is to stay short for now. 1.2200 still looks likely this week. As always, will be watching the 1-minute for any pullbacks, to make sure that they are just indeed a pullback and not a large reversal.
bebop where are you short from again? I dont see any reason to go long other than some profit taking / oscillator reseting, moves up.

There are a couple of nice down trend lines oni the hourlies at 1.2713 and 1.2781. Obvioulsy they get lower with every hour that passes.

If I had stayed short over the weekened and I wish I had sigh (no stomach for that though) I would be ready to take profits, it could lindeed rally +100 pips plus.

I am not going long only waiting to short.
+ Charts Happen
  • #70,098
  • Mar 1, 2009 6:48pm Mar 1, 2009 6:48pm
Quoting Passholder
The big question is this. The EU crisis summit or what ever the heck they called it resulted with the Majors telling Eastern Europe they are on their own. What does this mean for the Euro?
I think the summit worsen the case
  • #70,099
  • Mar 1, 2009 6:52pm Mar 1, 2009 6:52pm
Support from the 20th Feb held so far, @1.2550-60, doubled up there so fingers crossed this up move gets some strength behind it.

If not it's going to sting!!

Patience required!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #70,100
  • Mar 1, 2009 6:52pm Mar 1, 2009 6:52pm
Quoting Passholder
bebop where are you short from again? I dont see any reason to go long other than some profit taking / oscillator reseting, moves up.

There are a couple of nice down trend lines oni the hourlies at 1.2713 and 1.2781. Obvioulsy they get lower with every hour that passes.

If I had stayed short over the weekened and I wish I had sigh (no stomach for that though) I would be ready to take profits, it could lindeed rally +100 pips plus.

I am not going long only waiting to short.

2806, 2732, 2716, 2699 are four equal entries. I had to take about 15 10-pip losses and b/e trades while getting those entries, but managed to scalp a few for 5/10 pips too.

Watch PA on the 1-minute for signs of a strong reversal before going long is my opinion. I know I will if I sense a reversal.
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