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  • #74,961
  • Mar 12, 2009 8:33pm Mar 12, 2009 8:33pm
Quoting KillerWhale
I have again a short in, @ 1.2930 this time, but this pair is about to drive me crazy today. Very tight s/l

Shamu, you're trying to trade a dead fish! Let it show some direction at least
Traders are smartasses
  • #74,962
  • Mar 12, 2009 8:34pm Mar 12, 2009 8:34pm
Quoting SunTrader
Here he is. Designed any new weather satellites lately?
Yeah! Weather satellites

The Dear Leader tells me that I can't confirm or deny their existence
Not all sins are created equal
  • #74,963
  • Mar 12, 2009 8:34pm Mar 12, 2009 8:34pm
Jay,

What about intraday though? I don't think it will continue all the way up without making a retracement to at least 1.2880/1.2850.

What do you think?

I'm fairly confident of this, but an additional opinion is very much appreciated.
  • #74,964
  • Mar 12, 2009 8:36pm Mar 12, 2009 8:36pm
Quoting Moneys Lover
short E/U.....the god of forex whispered in my ear not so long ago......
Disregard the above statement at your own risk - I NEVER WISPER IN ANYONE'S EAR.
The Thief of Wall Street
  • #74,965
  • Mar 12, 2009 8:38pm Mar 12, 2009 8:38pm
Quoting Katalyst
Jay,

What about intraday though? I don't think it will continue all the way up without making a retracement to at least 1.2880/1.2850.

What do you think?

I'm fairly confident of this, but an additional opinion is very much appreciated.
A retrace wouldn't surprise me one bit. In fact, I expect it. So secure your pips and as always...hold on to your fu@#ing hat
Not all sins are created equal
  • #74,966
  • Mar 12, 2009 8:41pm Mar 12, 2009 8:41pm
Thanks for the opinion.

I'm holding two short positions right now, one at 1.2920, and another at 1.2905.

Profit target is at 1.2850. Stop loss is still open at this moment, but mentally it will be just above yesterday's high. It will all depend on price action if it goes anywhere there before making its move towards daily pivot.

The price is near the top of the uptrend channel at the moment on the 1H timeframe, so it might either touch the top of the channel again, or make its move down.

Either way, it will still have to make its move down to make a higher high.
  • #74,967
  • Mar 12, 2009 8:44pm Mar 12, 2009 8:44pm
Look like a double top 30 min chart or maybe a bull flag.... . a break above 1.2940----> 1.30xx, below 1.2880----> central pivot. my view.
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #74,968
  • Mar 12, 2009 8:50pm Mar 12, 2009 8:50pm
Quoting Spsantos
Shamu, you're trying to trade a dead fish! Let it show some direction at least
Thanks Spsantos, I think I needed that, you are absolutely right. I was just too convinced that it should go down just like that.
But actually my bias is long, and maybe it won't go down at all.

Time out, closed at 1.2910 for 20 pips.

And guess what: waiting for direction now.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #74,969
  • Mar 12, 2009 8:54pm Mar 12, 2009 8:54pm
A retrace to the DP @1.2862 is likely to happen.

A new major resistance may yet to be tested near 1.2840 (where a lot of longs were loaded earlier today).

To the upside there's no doubt the key point to watch is 1.2991, the *key* turning point imho. But i think it will take a very high confidence level and news to take this pair above that. Most likely we're entering a new consolidation area, to be watched in the next couple of days.

P.S - This text was not copied from any analysts around the net.
Traders are smartasses
  • #74,970
  • Mar 12, 2009 8:59pm Mar 12, 2009 8:59pm
Food for thought: Dow may re-test 7000 level before end of the week. It is presently below 7100 ...... 7085 precisely.
The Thief of Wall Street
  • #74,971
  • Mar 12, 2009 9:01pm Mar 12, 2009 9:01pm
Quoting Chicky
Food for thought: Dow may re-test 7000 level before end of the week. It is presently below 7100 ...... 7085 precisely.
Nothing about the Dow would surprise me.

7000 wouldn't surprise me

6500 either

Or 6000

Or 5000

The only thing that would surprise me about the Dow now is the speed at which it would drop.
Not all sins are created equal
  • #74,972
  • Mar 12, 2009 9:05pm Mar 12, 2009 9:05pm
Quoting Jay Walker
Nothing about the Dow would surprise me.

7000 wouldn't surprise me

6500 either

Or 6000

Or 5000

The only thing that would surprise me about the Dow now is the speed at which it would drop.
Jay, Do you think Dow and Euro correlation still valid? I am in doubt since day before yesterday.
The Thief of Wall Street
  • #74,973
  • Mar 12, 2009 9:05pm Mar 12, 2009 9:05pm
Quoting Jay Walker
Nothing about the Dow would surprise me.

7000 wouldn't surprise me

6500 either

Or 6000

Or 5000

The only thing that would surprise me about the Dow now is the speed at which it would drop.
hey i got 4000 and below infinite...
those who can, do. those who cant, talk about those who can
  • #74,974
  • Mar 12, 2009 9:06pm Mar 12, 2009 9:06pm
Quoting Jay Walker
Nothing about the Dow would surprise me.

7000 wouldn't surprise me

6500 either

Or 6000

Or 5000

The only thing that would surprise me about the Dow now is the speed at which it would drop.
Indeed.

There's a thought, i've been thinking about this these last 2 days, as we all know, nothing is linear in markets so i'm expecting a retrace, to make the move more "believable", i don't believe we have already hit the bottom stocks-wise (although cnbc may disagree ).

So far we've been seing a recovery based on news either on citis ceo or GE, etc, but it will suffice a small hint of doubt for this to come all way down again, that's how suspicious the market still is, I am at least...
Traders are smartasses
  • #74,975
  • Mar 12, 2009 9:07pm Mar 12, 2009 9:07pm
This is what I've always used to explain the thing... article is fairly extensive but an easy read... excerpt follows...
It's a basically a consensus as to what the pre-euro thing was worth at any given point as it was a composite of sorts. It's a term used for it's convenience more than any fixed value as I understand it... anyway this article helped settle my mind on the issue.

"The currency was introduced in non-physical form (travellers' cheques, electronic transfers, banking, etc.) at midnight on 1 January 1999, when the national currencies of participating countries (the Eurozone) ceased to exist independently. Their exchange rates were locked at fixed rates against each other, effectively making them mere non-decimal subdivisions of the euro. The euro thus became the successor to the European Currency Unit (ECU). The notes and coins for the old currencies, however, continued to be used as legal tender until new euro notes and coins were introduced on 1 January 2002."

http://en.wikipedia.org/wiki/Euro
FUBAR...
  • #74,976
  • Mar 12, 2009 9:09pm Mar 12, 2009 9:09pm
Hey, would someone get Asia on the phone and wake their asses up... I really dont want to go through another 10 hours of inactivity during their turn to make me money$

Killing me!
  • #74,977
  • Mar 12, 2009 9:09pm Mar 12, 2009 9:09pm
Quoting Spsantos
Indeed.

There's a thought, i've been thinking about this these last 2 days, as we all know, nothing is linear in markets so i'm expecting a retrace, to make the move more "believable", i don't believe we have already hit the bottom stocks-wise (although cnbc may disagree ).

So far we've been seing a recovery based on news either on citis ceo or GE, etc, but it will suffice a small hint of doubt for this to come all way down again, that's how suspicious the market still is, I am at least...
cnbc reports depression over crank up the visa's....happy days are here again..
those who can, do. those who cant, talk about those who can
  • #74,978
  • Mar 12, 2009 9:12pm Mar 12, 2009 9:12pm
Quoting Jay Walker
A retrace wouldn't surprise me one bit. In fact, I expect it. So secure your pips


Long from down under, short from up yonder...

Make that Shong and Lort if you would and Supersize it please...

Hi Jay, I think I might be gettin the hang of this. Currently trading my BS fibs and pivots since I don't know how to do anything else...
FUBAR...
  • #74,979
  • Mar 12, 2009 9:13pm Mar 12, 2009 9:13pm
longs be careful todays friday the 13th not normally a good u.s. equity day.. im so stupidtishes
those who can, do. those who cant, talk about those who can
  • #74,980
  • Mar 12, 2009 9:15pm Mar 12, 2009 9:15pm
Quoting GrnEydGuy
Hey, would someone get Asia on the phone and wake their asses up... I really dont want to go through another 10 hours of inactivity during their turn to make me money$

Killing me!
I called, they replied "We are dead".
The Thief of Wall Street
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