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  • #76,321
  • Mar 17, 2009 7:16am Mar 17, 2009 7:16am
2953 seems to hold. I guess the news will tell the rest of the story.
Left Wing, Right Wing, same bird
  • #76,322
  • Mar 17, 2009 7:22am Mar 17, 2009 7:22am
added longs @ 2943
  • #76,323
  • Mar 17, 2009 7:22am Mar 17, 2009 7:22am
Quoting SpecialEd
Today's high is 3033. Low is 2953. That's just about the range we're seeing, except that we've been toward the low end. News will kick it somewhere. I'll go long at 3022 (maybe 3000) or short at 2949. I've got a sell stop in place for the short. Still thinking about the long.
I just put in a buy order at (small posistion) @1.2960.

I have too many lines at 1.2955 area to ignore. i dont know if this break below right here right now is a fake. I will buy 1.2960, there is support below at 1.2860.

I agree totally that a break of 1.3020 shold test yesterday's 1.3070 high.
+ Charts Happen
  • #76,324
  • Mar 17, 2009 7:23am Mar 17, 2009 7:23am
Derek, you seem to have a magic crystal ball.

What is your opinion on the next movement?

I think there will be a slight retracement up before it goes down to your projection.

I will be looking to short that retracement up on the 1M timeframe.

Hopefully I haven't missed the train.
  • #76,325
  • Mar 17, 2009 7:24am Mar 17, 2009 7:24am
Quoting Passholder
I just put in a buy order at (small posistion) @1.2960.

I have too many lines at 1.2955 area to ignore. i dont know if this break below right here right now is a fake. I will buy 1.2960, there is support below at 1.2860.

I agree totally that a break of 1.3020 shold test yesterday's 1.3070 high.
Yep, my 2949 sell stop hit and pa went directly to a 3/13/09 horizontal support line I'd drawn at 2936 and bounced. I got out at +1 waiting on the news.
Up or down, gimme a ticket
  • #76,326
  • Mar 17, 2009 7:25am Mar 17, 2009 7:25am
long at 2955
Left Wing, Right Wing, same bird
  • #76,327
  • Mar 17, 2009 7:25am Mar 17, 2009 7:25am
Maybe bear trap ?
  • #76,328
  • Mar 17, 2009 7:26am Mar 17, 2009 7:26am
A little bit early to go long don't you think with the news coming out in like 5 minutes?



Quoting akagucciano
long at 2955
  • #76,329
  • Mar 17, 2009 7:30am Mar 17, 2009 7:30am
Quoting Katalyst
A little bit early to go long don't you think with the news coming out in like 5 minutes?
Gotta be in it to win it.


PS - I closed my shorts and am all long now. Will be adding at support levels if we drop. Looking for 1.316-1.318.
  • #76,330
  • Mar 17, 2009 7:31am Mar 17, 2009 7:31am
well i missed the 30pip ride from 940
  • #76,331
  • Mar 17, 2009 7:32am Mar 17, 2009 7:32am
Quoting ThomKnight
tgting 1.2935 triggered 3022 stop

TK
Trade complete. Almost ideal stop, target 1 pip off. apprx 7:1 reward.

out till after news. Pair is pointing short looking for a good retrace, confirming failure to re-enter toward 2890.

Longs are closed only short ATM. Expecting a sell day.


TK
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  • #76,332
  • Mar 17, 2009 7:32am Mar 17, 2009 7:32am
That's what I said when I was playing Roulette at the Crown Casino.





Quoting F.x.
Gotta be in it to win it.


PS - I closed my shorts and am all long now. Will be adding at support levels if we drop. Looking for 1.316-1.318.
  • #76,333
  • Mar 17, 2009 7:35am Mar 17, 2009 7:35am
Immediate support levels are 1.2730, followed by 1.2625. Short term resistance is 1.3000, followed by 1.3345.
Technical resistance levels: 1.3000 1.3170 1.3345
Technical support levels: 1.2730 1.2625 1.2520

Trading range: 1.2955 - 1.3020
Trend: Upward
Buy at 1.2967 SL 1.2937 TP 1.3007
  • #76,334
  • Mar 17, 2009 7:37am Mar 17, 2009 7:37am
Long at 2960 have to run my kid to pre school
+ Charts Happen
  • #76,335
  • Mar 17, 2009 7:40am Mar 17, 2009 7:40am
Quoting Katalyst
That's what I said when I was playing Roulette at the Crown Casino.

Yea, that phrase definitely works better with trading than it does with gambling.
  • #76,336
  • Mar 17, 2009 7:40am Mar 17, 2009 7:40am
Good Call Derek
That downward move Derek called was the big boys taking out the Stops. There was no momentum left in that downward move and yet it moved with the fury. You've got to watch those Institutional players, their In It To Win It.
  • #76,337
  • Mar 17, 2009 7:40am Mar 17, 2009 7:40am
Well, I'm looking to short this one pretty soon.

I think this bull has had its run up, and now it's time for the bears to take over.

Once waiting for confirmation of a break below the range, and down I go.

Hopefully hold on to the short up until about 1.2700. And then re-evaluate.
  • #76,338
  • Mar 17, 2009 7:46am Mar 17, 2009 7:46am
Under 1.2930
1st target 1.287
2nd target 1.2815

if its still above 1.2930 it is looking to 1.3075 and 1.3155
  • #76,339
  • Mar 17, 2009 7:46am Mar 17, 2009 7:46am
Channel
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  • #76,340
  • Mar 17, 2009 7:52am Mar 17, 2009 7:52am
F.X.,

If it's a down channel, then why are you going long?

Sorry, you got me confused. I do agree with your chart though.
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