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  • #71,141
  • Mar 4, 2009 10:41am Mar 4, 2009 10:41am
good trip .. I'm thinking on a south to .2575 ... May I have it ?
  • #71,142
  • Mar 4, 2009 10:42am Mar 4, 2009 10:42am
It's better to hold on for a while with trading in situation like this - pretty unstable.
  • #71,143
  • Mar 4, 2009 10:44am Mar 4, 2009 10:44am
anybody know why this particular spike happend?

Thanks,

Steve
  • #71,144
  • Mar 4, 2009 10:44am Mar 4, 2009 10:44am
If the US Markets strenght continue don't look for shorting this pair. It's been trading with S&P and S&P is doing a nice rounding bottom on M15.
  • #71,145
  • Mar 4, 2009 10:44am Mar 4, 2009 10:44am
its so funny to hear people on this thread panic when the market moves the opposite direction than they where told by others it would go!!!! If you all think the market is going to go straight down to 1.2000 with no retraces you all should quit now
  • #71,146
  • Mar 4, 2009 10:47am Mar 4, 2009 10:47am
Quoting psiholog
honestly if that level gets reached again...im going to sleep flat as i would be dumbfounded. i know the ecb rate cut decision data is pending but just one look at the daily charts suggests at least one nice big long bull candle. if we break 1.2565 on the other hand followed by retest to make sure it has become support again...you can guess ill be entering long


Attachment
wow...that was an impressive analysis even by my standards haha. i even went long at 1.2505 with tp at 1.2590 but took tp at 1.2575 as soon as i opened my eyes (woke up 10min ago) scared of the bears who control the market coming back...still good times

current technical analysis. it does look like we are developing an inverted h&s on the hourly charts as chart will show. If it does play out upwards targets are of 1.2870 (distance of tip of head to neckline). HOWEVER...the ecb is expected to cut rates in less then 24 hours so any longs off these levels should be well monitored. To keep it KISS....strong support is yet again 1.2565 as it has been for so long and strong resistance is yet again 1.2625 with a congestion area in between 1.2625 and 1.2675 with very strong resistance at around the 1.2700 level. good pippin all...as for new entries for me..looking at the moment only

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Different opinions highly valued, ignorant to slander.
  • #71,147
  • Mar 4, 2009 10:51am Mar 4, 2009 10:51am
Short to 1.2550. @ that point My SL wiil be ~ 1.2580.
If this Stop is not hit... heading for ~1.2540... ~1.2505.. 1.2485... 1.2460 & then a New Low for the period.


Of course; this must all occurr before we head for 1.1800
  • #71,148
  • Mar 4, 2009 10:51am Mar 4, 2009 10:51am
resistance levels... short is still the trend.
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  • #71,149
  • Mar 4, 2009 10:55am Mar 4, 2009 10:55am
Quoting stevep314
anybody know why this particular spike happend?

Thanks,

Steve
Could this be the reason? I am having a huge drawdown.
On the 1hr and 4hr. Histogram positive to price. I believe price will run up until end of NY. At least from the 4hr chart.
Quite lame but all this signal has been telling me on the higher time frame and yet we ignore it as I feel that EUR is still down as economics wise they are just as bad. So right now is who is worst???
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Forex Price Action Hacked - Price Action Rockstar
  • #71,150
  • Mar 4, 2009 10:55am Mar 4, 2009 10:55am
Quoting F.x.
Building shorts... we've got some drops ahead of us before the weekend.


Ci sono altre persone qui che parlano italiano??? Bene bene...
io parlo l'italiano, ma non sono italiano
  • #71,151
  • Mar 4, 2009 10:58am Mar 4, 2009 10:58am
Quoting F.x.
I'm shorting right now.
Me too @ 1.2620
  • #71,152
  • Mar 4, 2009 11:01am Mar 4, 2009 11:01am
Quoting Bemac
Short to 1.2550. @ that point My SL wiil be ~ 1.2580.
If this Stop is not hit... heading for ~1.2540... ~1.2505.. 1.2485... 1.2460 & then a New Low for the period.


Of course; this must all occurr before we head for 1.1800
I am with you on this one!
  • #71,153
  • Mar 4, 2009 11:02am Mar 4, 2009 11:02am
Quoting stevep314
anybody know why this particular spike happend?

Thanks,

Steve
Its all about equites. Throw away your FX charts for now, they will print whatever they print based on the equities rally.

But can the equities hold into the close ????????
+ Charts Happen
  • #71,154
  • Mar 4, 2009 11:03am Mar 4, 2009 11:03am
Wow, glad I didn't decide to leave a short overnight. Too bad I didn't leave a long either. Oh well, if we only knew the future....

http://www.google.com/hostednews/afp...M0J18JigMRvG5A
  • #71,155
  • Mar 4, 2009 11:05am Mar 4, 2009 11:05am
Quoting skerdi-meta
io parlo l'italiano, ma non sono italiano
... non è difficile per un albanese.

  • #71,156
  • Mar 4, 2009 11:07am Mar 4, 2009 11:07am
Quoting skerdi-meta
io parlo l'italiano, ma non sono italiano
Anch'io... sono Americano... tu?


Quoting JgrB
Me too @ 1.2620
Keeping w/ my expectation of a nice dip w/ the rate announement tomorrow, we could be looking at a good position here to keep in play.

As for now it looks like we have a drop about to happen.
  • #71,157
  • Mar 4, 2009 11:09am Mar 4, 2009 11:09am
I'll tell ya what really sucks...

Waking up looking at the charts and seeing the USD/CAD down 200 pips even though I had entered a short within 15 pips of the top (damn 8 pip spreads).

Since Oanda doesn't have an if then or OCO order I had to place a limit buy to scale back part of my order, I just didn't even fathom that my stop loss would be hit before my TP... so needless to say my SL was hit (for small profit) and then my buy order was hit while it was still moving down...

Luckily I woke up before the big move down, but still a 200 pip profit turned into a 30 pip loss is not a good way to start the day.

Anyway, the EUR/USD has been so predictible this week that this has been my most profitable week since I started in January.

Peace
  • #71,158
  • Mar 4, 2009 11:09am Mar 4, 2009 11:09am
S&P below 710 i would be closing longs. Bounce off pivot and down now imo.
  • #71,159
  • Mar 4, 2009 11:10am Mar 4, 2009 11:10am
So the ones that caused the spike down earlier, are the ones that caused the spike up now...they do look about the same size.
Thanks,

Steve
  • #71,160
  • Mar 4, 2009 11:12am Mar 4, 2009 11:12am
Hello everybody
Does someone trade with mobile?, can share his/her experience?
311 traders viewing now