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  • #72,501
  • Mar 6, 2009 1:19pm Mar 6, 2009 1:19pm
Quoting dstryr
I would not hold shorts over the weekend unless you have your stops at entry....market does crazy stuff that isnt worth holding with.

I believe we still have another day or two down. 2380-2300 is where I want to buy Euros and hold longer term. And if you look on the daiily you will see what I see
Do you see the same as several of us have which is the big W? Please see attached chart.
lindee
Attached Image (click to enlarge)
Click to Enlarge Name: Daily3609.gif Size: 23 KB
Let Freedom Ring!
  • #72,502
  • Mar 6, 2009 1:19pm Mar 6, 2009 1:19pm
Evening Star in EU . Bulls be carefull.
  • #72,503
  • Mar 6, 2009 1:24pm Mar 6, 2009 1:24pm
Man I am so bearish on EUR right now I might as well go take a ***t in the woods.
  • #72,504
  • Mar 6, 2009 1:28pm Mar 6, 2009 1:28pm
Have a nice weekend all, looking forward for next week.
Traders are smartasses
  • #72,505
  • Mar 6, 2009 1:28pm Mar 6, 2009 1:28pm
Quoting nvcK
Man I am so bearish on EUR right now I might as well go take a ***t in the woods.



Post of the week.
  • #72,506
  • Mar 6, 2009 1:30pm Mar 6, 2009 1:30pm
Quoting lindee
Do you see the same as several of us have which is the big W? Please see attached chart.
lindee
Daily stuff wont show true until next week...This is what I see,,,still strong down trend.
Attached Image (click to enlarge)
Click to Enlarge Name: euro4hr.gif Size: 16 KB
Going to make it big by age 21.
  • #72,507
  • Mar 6, 2009 1:42pm Mar 6, 2009 1:42pm
My outlook for the next couple days:

I'm flat for the time being and will not hold a position over the weekend. My intuition tells me a gap down, slight sell off, run up to the 1.28-1.2850 area with a sell off from there. I chose this because it's a 62% retrace, reaching a trend line, and a nice round number.

Although this would be basically an exact replay of two weekends ago it would be a nice formation of the middle portion of the W with the low side at 1.2400. Trust this will not be a straight drop and purely my opinion.

Have a good weekend guys (and girls)
Attached Image (click to enlarge)
Click to Enlarge Name: chart15.gif Size: 43 KB
  • #72,508
  • Mar 6, 2009 1:52pm Mar 6, 2009 1:52pm
Quoting ak4x
It must be Friday, the final 2 hours will be about gaps... the entire weekend will be someone posting the current price from some website with more talk about gaps, and the 2 hours before the Open will be about gaps as well...

Nothing has changed with regard to gaps since Time began...

...and if YOU don't know what YOUR borker's policy is with regard to how THEY handle gapping at the Open whether you're talking about Stop Losses or Buy/Sell Stop entry orders... you'll either avoid the practise altogether (recommended) or you'll eventually...
Looking a "different" way to gaps:

If you open a trade without s/l on Friday for the weekend, 3 things can happen.
1. No gap, just handle the trade as usual, place s/l and target
2. Gap in your direction > take profit
3. Gap against your direction > wait until the gap fills and take profit.

So actually it is not a big risk to have a trade over the weekend.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #72,509
  • Mar 6, 2009 1:55pm Mar 6, 2009 1:55pm
Quoting KillerWhale
Looking a "different" way to gaps:

If you open a trade without s/l on Friday for the weekend, 3 things can happen.
1. No gap, just handle the trade as usual, place s/l and target
2. Gap in your direction > take profit
3. Gap against your direction > wait until the gap fills and take profit.

So actually it is not a big risk to have a trade over the weekend.
I am leaving open my longs for the weekend. tp 1.28
have a nice weekend everybody
  • #72,510
  • Mar 6, 2009 1:59pm Mar 6, 2009 1:59pm
Quoting emda
I am leaving open my longs for the weekend. tp 1.28
have a nice weekend everybody
What price are they from? I see this thing possibly dropping to todays open tbh.

EDIT: I never thought I would get to see S&P at 666 in my lifetime. Somebody put this thing out of its misery.
  • #72,511
  • Mar 6, 2009 2:11pm Mar 6, 2009 2:11pm
2636 here we come
Going to make it big by age 21.
  • #72,512
  • Mar 6, 2009 2:21pm Mar 6, 2009 2:21pm
Quoting nvcK
What price are they from? I see this thing possibly dropping to todays open tbh.

EDIT: I never thought I would get to see S&P at 666 in my lifetime. Somebody put this thing out of its misery.
1.2550 and another one at 1.2633
yes.. market already corrected the bubble... but now it comes the recession movement. sell all rallies you can.
  • #72,513
  • Mar 6, 2009 2:22pm Mar 6, 2009 2:22pm
2625 next
Going to make it big by age 21.
  • #72,514
  • Mar 6, 2009 2:23pm Mar 6, 2009 2:23pm
oops recent price action maybe makes me close the positions and not leaven them for the weekend...
  • #72,515
  • Mar 6, 2009 2:26pm Mar 6, 2009 2:26pm
Quoting KillerWhale
Looking a "different" way to gaps:

If you open a trade without s/l on Friday for the weekend, 3 things can happen.
1. No gap, just handle the trade as usual, place s/l and target
2. Gap in your direction > take profit
3. Gap against your direction > wait until the gap fills and take profit.

So actually it is not a big risk to have a trade over the weekend.
And on and on and on..

Look, I'm not looking for a way to trade gaps, I'm all good. Besides there's 4 things and you left that one out...

I'm hoping that newbies that think their Live trade stop will get respected cuz it's on their chart but have never read the Fine Print in their borker agreement, or called a rep will do so before they get margined out on a big gap with an order size too big cuz they're still newbies and half screwed up trying to last long enough to get unscrewed... and the damn GAP either skipped over their Stop or just simpy closed them out at MC instead of 5 pips away from the price they stuck in 10 seconds before the Close.

So your last statement is not something I'd ever put MY name on... I stand by my post, as written. But to each his own.
FUBAR...
  • #72,516
  • Mar 6, 2009 2:26pm Mar 6, 2009 2:26pm
levels to watch 2605 2595 2575
Going to make it big by age 21.
  • #72,517
  • Mar 6, 2009 2:29pm Mar 6, 2009 2:29pm
nice drop.... it seems no one is going to leave the longs over the weekend... lol
  • #72,518
  • Mar 6, 2009 2:30pm Mar 6, 2009 2:30pm
depending on how low we go I might leave 1 short open over weekend with stop loss at entry.
Going to make it big by age 21.
  • #72,519
  • Mar 6, 2009 2:31pm Mar 6, 2009 2:31pm
Quoting emda
nice drop.... it seems no one is going to leave the longs over the weekend... lol
retrace will be the same - quick and big.... maybe during weekend!
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  • #72,520
  • Mar 6, 2009 2:32pm Mar 6, 2009 2:32pm
Quoting dstryr
depending on how low we go I might leave 1 short open over weekend with stop loss at entry.
you wanted to say 1 long open of course
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