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  • #76,181
  • Mar 16, 2009 10:32pm Mar 16, 2009 10:32pm
Quoting bablo
I guess that you have been in this trade since last Thursday. I see why you too the trade. I guess th bigger question is when do you think it will be time to get off the north bound bus?

If you say 1.3070 then I agree. Only a clear break of that number would change my thoughts. Also I think that the stock market will move down tomorrow and with it I expect this pair to follow.

Just to be clear I have no trades open at the moment. A lot of vetran traders are saying North and I just don't see it. Until I agree I will not trade.
3070 could just be the beginning.

I'm the world's worst "predictor" (is that even a word?) and many others are a lot better at accurately saying "it will hit xyz". Now that the disclaimer is out of the way, if I was to venture a guess, I would say somewhere in the neighborhood of 3450.

Keep in mind, it's a weekly chart and not too many around here trade larger frames than daily.
Not all sins are created equal
  • #76,182
  • Mar 16, 2009 10:32pm Mar 16, 2009 10:32pm
This is why.
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  • #76,183
  • Mar 16, 2009 10:35pm Mar 16, 2009 10:35pm
Quoting KillerWhale
Sure I have a chart, but I was interrupted by phone call. I'll post it in a few minutes.
Here is the daily, all indicators have room to the upside.
Momentum sharply pointing to the north, also on 4H, 1H, 30M.
RSI not oversold.
Gan HiLo supports upside view on ALL TIME FRAMES.

Shamu
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New voice message: Why are you calling me? If I need you, I'll call you!
  • #76,184
  • Mar 16, 2009 10:39pm Mar 16, 2009 10:39pm
Quoting KillerWhale
Here is the daily, all indicators have room to the upside.
Momentum sharply pointing to the north, also on 4H, 1H, 30M.
RSI not oversold.
Gan HiLo supports upside view on ALL TIME FRAMES.

Shamu
Very nice KW. Thanks for sharing!
Not all sins are created equal
  • #76,185
  • Mar 16, 2009 10:39pm Mar 16, 2009 10:39pm
If LOD gives which is basically daily pivot it should move down in sympathy with equities. Keep those stops close.
  • #76,186
  • Mar 16, 2009 10:40pm Mar 16, 2009 10:40pm
Quoting Jay Walker
Keep in mind, it's a weekly chart and not too many around here trade larger frames than daily.
Based on the upper channel wall on the weekly chart on this post: http://www.forexfactory.com/showpost...&postcount=393, I would say 3600-3800 would not be out of the question. However, I am not currently seeing longs past 3050ish.
  • #76,187
  • Mar 16, 2009 10:41pm Mar 16, 2009 10:41pm
Quoting Jay Walker
Very nice KW. Thanks for sharing!
You're very welcome.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #76,188
  • Mar 16, 2009 10:42pm Mar 16, 2009 10:42pm
Quoting SunTrader
If LOD gives which is basically daily pivot it should move down in sympathy with equities. Keep those stops close.
How long will Yorrow actually keep correlation with U.S. equities? Like, forever?
  • #76,189
  • Mar 16, 2009 10:42pm Mar 16, 2009 10:42pm
Quoting KillerWhale
Here is the daily, all indicators have room to the upside.
Momentum sharply pointing to the north, also on 4H, 1H, 30M.
RSI not oversold.
Gan HiLo supports upside view on ALL TIME FRAMES.

Shamu
Correction,

Of course I meant "RSI not overbought"
New voice message: Why are you calling me? If I need you, I'll call you!
  • #76,190
  • Mar 16, 2009 10:44pm Mar 16, 2009 10:44pm
Quoting TradeWell
Based on the upper channel wall on the weekly chart on this post: http://www.forexfactory.com/showpost...&postcount=393, I would say 3600-3800 would not be out of the question. However, I am not currently seeing longs past 3050ish.
I'll probably have to hold my breath and expect a down before it goes up again.
Not all sins are created equal
  • #76,191
  • Mar 16, 2009 10:44pm Mar 16, 2009 10:44pm
Quoting gatorinla
2951 is the 50% retrace from last bull move.. if rejected then 2994 is passed im looking to short around 3025--or todays high.. it could go as low as 2923 for this last bull spike to remain mathematicaly wise intack.. and still be considerd in the bull move.. im looking at the longer term and hope it does give the bulls short term run.. for me to enter short..

looks like a M forming (or trying)..it bounced off 50% 2951 and now hovering above 72%.(2994). maybe gonna test 3060/70 and possibly 3092.. double top...M..im gonna short above 3050 and cost average if it goes above i will short some more.. sl will be above 3150 ish.. may get out earlier if i feel its a lost cause.. tp will be determined later.. im hoping to hold on this one a while..
those who can, do. those who cant, talk about those who can
  • #76,192
  • Mar 16, 2009 10:46pm Mar 16, 2009 10:46pm
Anyone thinking of a big W on daily chart?
The Thief of Wall Street
  • #76,193
  • Mar 16, 2009 10:48pm Mar 16, 2009 10:48pm
Quoting Passholder

I have this gut feeling that if the euro breaks higher it will stop balls on 1.3070, last night's high, at which point shorts will try and double top it down a couple of hundreds pip.

I have been flat all day on E/$ even though there was a nice hourly opp to get short today earlier, I chose to pass on it.
well played...im seeying exactly the same thing. a double top possibility with a high of 1.3090 max. we may not even get that high so to really determine future direction we need a decisive break of todays high or the first strong support which was resistance...1.2930. A break of that level suggests a run down to the lower wall of the current uptrend around 1.2760... with the possibility of some support at a few key levels...1.2865 and 1.2805 according to my interpretations.

in my opinion well be going down for the rest of the week...

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Different opinions highly valued, ignorant to slander.
  • #76,194
  • Mar 16, 2009 10:48pm Mar 16, 2009 10:48pm
Quoting Chicky
Anyone thinking of a big W on daily chart?
all day and all night
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #76,195
  • Mar 16, 2009 10:49pm Mar 16, 2009 10:49pm
Hi,
  • #76,196
  • Mar 16, 2009 10:49pm Mar 16, 2009 10:49pm
Quoting TradeWell
How long will Yorrow actually keep correlation with U.S. equities? Like, forever?
Who can say? I just know until it ends that is the way I trade it.
  • #76,197
  • Mar 16, 2009 10:51pm Mar 16, 2009 10:51pm
Quoting Jay Walker
3070 could just be the beginning.

I'm the world's worst "predictor" (is that even a word?) and many others are a lot better at accurately saying "it will hit xyz". Now that the disclaimer is out of the way, if I was to venture a guess, I would say somewhere in the neighborhood of 3450.

Keep in mind, it's a weekly chart and not too many around here trade larger frames than daily.
Jay,

Thanks for the clarification. I think that in the long run you will be right and maybe a little higher. However in the near term, I fell that a move down is in the cards.

I expect us to move to 1.2827 followed with a possible move to 1.2734. These numbers are not cast in stone but rather an approximation +/- 15 pips.
  • #76,198
  • Mar 16, 2009 10:51pm Mar 16, 2009 10:51pm
Quoting KillerWhale
The daily chart has room enough for another leg up.
Mr Killer Whale,

Can you share with us the pip value of 1 leg in a Daily chart, pls ??
  • #76,199
  • Mar 16, 2009 10:52pm Mar 16, 2009 10:52pm
Quoting Chicky
Anyone thinking of a big W on daily chart?
i think about it all the time.. if it started i missed some of it.. i may be sold soon..
those who can, do. those who cant, talk about those who can
  • #76,200
  • Mar 16, 2009 10:53pm Mar 16, 2009 10:53pm
I am still short, all based on a simple hourly fib. I have a short signal and this fibs lower target will trigger a larger fib on the 4hour chart. The first target is @ 1.2931 and the second is @ 1.2906. Hopefully this will start the snowball.
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