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  • #71,461
  • Mar 5, 2009 1:35am Mar 5, 2009 1:35am
Quoting KillerWhale
Just wondering, I sure believe we will get a new low, like 1.2330 or so, but after that? The bear move is really running out of steam.
I'm short at the moment but preparing for the reverse that will come not long from now.

Shamu
when in doubt about pa direction all you have to do is look at pa back to historical prices that were last touched and acted as support resistance. this next chart will portray it and clearly explain why bernac chose 1.1700 as a potential target in the coming months but this in no way should be used as a bias towards your strategy and trades unless you are a long term trader. My suggestion is just watch pa and how pa behaves at known strong S/R levels...stick to your strategy..when in doubt..stay out and happily flat

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Different opinions highly valued, ignorant to slander.
  • #71,462
  • Mar 5, 2009 1:35am Mar 5, 2009 1:35am
Quoting gatorinla
might be building the inverted hs on the 15.. i hope not..

I've got that in mind too. Could get ugly
  • #71,463
  • Mar 5, 2009 1:38am Mar 5, 2009 1:38am
[FOCUS COMMENT] - Further consolidation is the name of the game in Eur/Usd ahead of the ECB meeting and then NFP's. Both punchy events, but whilst there is an underlying bid for Usd's, there is a lot of short term risk that keeps finding the wrong level

CABLE] is up 30 points or so in opening exchanges and underlying Gbp strength is being seen on the crosses, i.e. Euro and particularly Yen. First things first and ahead of the key BOE verdict comes Feb's HBOS HPI, which is expected to draw -2.0% m/m and -17.8% y/y numbers after last month's surprisingly positive results. A 50 basis points ease to 0.50% is being seen as a given and the main focus appears to be whether King and co take bold measures (Times) and print money and begin a policy of quantitative easing. This issue is likely to be next Gbp driver, but on balance we would continue to fade intraday strength. Stops are seen through 1.4200/10 and a 1.4225/30 fibo could be tripped for position paring purposes ahead, but 1.4270/00 looks a fair obstacle at this stage. 06:59 GMT - [EUROPEAN FX OPEN] Looking beyond the key BOE and ECB verdicts, Fed's Lockhart has already admitted that he is apprehensive about Feb's jobs report, preparing for bad numbers. The Usd opens largely lower across the board, but off worst levels seen in preceding sessions.
those who can, do. those who cant, talk about those who can
  • #71,464
  • Mar 5, 2009 1:42am Mar 5, 2009 1:42am
i hope bemacks right....come on 93...
those who can, do. those who cant, talk about those who can
  • #71,465
  • Mar 5, 2009 1:47am Mar 5, 2009 1:47am
Quoting gatorinla
i hope bemacks right....come on 93...
what 93 ?
hope you mean 1.2493 hehe
Follow The Trend
  • #71,466
  • Mar 5, 2009 1:47am Mar 5, 2009 1:47am
while we are all awaiting a break of the 1.2565-1.2625 here is another vanessa mae classic..trust me its worth listening to ...if you listen to it and dont like it you can block me forever..hell..id pay money to see her live
Inserted Video
Different opinions highly valued, ignorant to slander.
  • #71,467
  • Mar 5, 2009 1:49am Mar 5, 2009 1:49am
Live ECB webcast for all of you concerned at 2.30 p.m. CET :

http://www.thomson-webcast.net/de/di...5_stream_video
  • #71,468
  • Mar 5, 2009 1:51am Mar 5, 2009 1:51am
Quoting Dagger
what 93 ?
hope you mean 1.2493 hehe
baby steps.. wanna get past the dpp first.. i guess i mean .9300
those who can, do. those who cant, talk about those who can
  • #71,469
  • Mar 5, 2009 1:52am Mar 5, 2009 1:52am
Quoting F.x.
I've got that in mind too. Could get ugly
Why could anything ever get ugly for an fx trader? As long as you are on the right side it is never ugly, always a challenge. Who cares if the dollar crashes? Or the Euro crashes? Or the Yen?
You can make money whatever way it goes. Its the beauty of forex.
And finally the currency will get stable again.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #71,470
  • Mar 5, 2009 2:04am Mar 5, 2009 2:04am
Quoting KillerWhale
Why could anything ever get ugly for an fx trader? As long as you are on the right side it is never ugly, always a challenge. Who cares if the dollar crashes? Or the Euro crashes? Or the Yen?
You can make money whatever way it goes. Its the beauty of forex.
And finally the currency will get stable again.
It was just an expression, it really doesn't bother me which way price goes. Only mentioned because my mentality is bearish right now but that reverse shampoo could make for a nice run up... possibly even hitting 1.29 area.
  • #71,471
  • Mar 5, 2009 2:12am Mar 5, 2009 2:12am
Quoting F.x.
It was just an expression, it really doesn't bother me which way price goes. Only mentioned because my mentality is bearish right now but that reverse shampoo could make for a nice run up... possibly even hitting 1.29 area.
i will say this...when a pattern looks too good to be true..it probably is. 90% of the time that a pattern develops that looks so beautiful will end up doing the opposite of what its supposed to do (this applying to larger timeframes only)...in other words...do expect a retest of 1.2565 and possibly lower before a true move develops....even if we break 1.2665 chances are we will reverse pa later on. This market is tricky...its always for a lack of better words..designed to hunt stop losses...be liberal with your perspective of pa..just my 2 cents
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  • #71,472
  • Mar 5, 2009 2:14am Mar 5, 2009 2:14am
Range 1,2560/80 may be support
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  • #71,473
  • Mar 5, 2009 2:18am Mar 5, 2009 2:18am
Quoting F.x.
It was just an expression, it really doesn't bother me which way price goes. Only mentioned because my mentality is bearish right now but that reverse shampoo could make for a nice run up... possibly even hitting 1.29 area.
Don't forget EU rate decision in a few hours, could be a nice surprise to the downside.
1.2330 and then up?

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #71,474
  • Mar 5, 2009 2:21am Mar 5, 2009 2:21am
...I just want to be rich............
  • #71,475
  • Mar 5, 2009 2:22am Mar 5, 2009 2:22am
Quoting KillerWhale
Don't forget EU rate decision in a few hours, could be a nice surprise to the downside.
1.2330 and then up?

Shamu
one down spike till 1.2500 would be enough
ROBOT FOREX
  • #71,476
  • Mar 5, 2009 2:26am Mar 5, 2009 2:26am
Quoting Forbes55
one down spike till 1.2500 would be enough
why?...is that where your take profit is? if that is the case...all you are trying to do is dictate the market when the market should dictate you

constructive criticism here..please take no offense
Different opinions highly valued, ignorant to slander.
  • #71,477
  • Mar 5, 2009 2:30am Mar 5, 2009 2:30am
Expectations come hand in hand with account blow up...
Traders are smartasses
  • #71,478
  • Mar 5, 2009 2:31am Mar 5, 2009 2:31am
something is pushing this thing back up...

either good for those wanting to short higher, or bad for the ones who went short @ 1.2600, or good for those who went long @ 1.2585... take your pick.. im still flat.. this thing is choppy
  • #71,479
  • Mar 5, 2009 2:32am Mar 5, 2009 2:32am
Quoting T.E.Lawrence
...I just want to be rich............
I am getting closer to that goal. But I want to get there quicker.
  • #71,480
  • Mar 5, 2009 2:35am Mar 5, 2009 2:35am
Quoting ragnakore
something is pushing this thing back up...

either good for those wanting to short higher, or bad for the ones who went short @ 1.2600, or good for those who went long @ 1.2585... take your pick.. im still flat.. this thing is choppy

great post! when in doubt...be flat. personally..im short off 1.2616 with half a position again. my bias says this thing will go lower yet still at least to retap the 1.2565 level but im not entirely confident of this either. Risk reward ratio is great though as im up 80 pips for the day (regular position size) so this would only be a drawdown of 25 pips. On the other hand if i am correct....i may even double up if 1.2565 breaks south..to be seen
Different opinions highly valued, ignorant to slander.
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