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  • #78,921
  • Mar 23, 2009 2:47pm Mar 23, 2009 2:47pm
Quoting gatorinla
looks like it may test 46.. if it fails intra day if market decides not to move we may see range 3641 3505... dow is up over 400. and yet euro up only 53.. under a not so strong s/r and having trouble breaking it.. im gonna short here with a extremily tight sl..

splat!!! lost ten pips.. r/r was 10/140...
those who can, do. those who cant, talk about those who can
  • #78,922
  • Mar 23, 2009 2:52pm Mar 23, 2009 2:52pm
Quoting dysan4x
Thanks for the input Gator. I'm going to have to take care of those 50 points in a couple weeks. The wife won out over the ocean view and she has me moving to a condo in town over looking - you guessed it - a mall. They can't get my internet service hooked up for a couple weeks so I guess I get to go shopping and look at the ladies.

Take care....
good luck .. take care of yourself..
those who can, do. those who cant, talk about those who can
  • #78,923
  • Mar 23, 2009 2:57pm Mar 23, 2009 2:57pm
dow is up almost 500 pips..s/p 52... a huge move...yet eu is stuck
those who can, do. those who cant, talk about those who can
  • #78,924
  • Mar 23, 2009 3:02pm Mar 23, 2009 3:02pm
Quoting gatorinla
dow is up almost 500 pips..s/p 52... a huge move...yet eu is stuck
I was also looking at this, could foreshadow a potential sell off in the asian/euro session?

Seems like downward pressure is taking over if you look at the past two days.
  • #78,925
  • Mar 23, 2009 3:04pm Mar 23, 2009 3:04pm
got SHORT 1.3650 sl 1.3660
  • #78,926
  • Mar 23, 2009 3:09pm Mar 23, 2009 3:09pm
Quoting egkid
got SHORT 1.3650 sl 1.3660
why short?
I'll send a bottle of wine to my first voucherer ;-)
  • #78,927
  • Mar 23, 2009 3:15pm Mar 23, 2009 3:15pm
Quoting Byrd
I was also looking at this, could foreshadow a potential sell off in the asian/euro session?

Seems like downward pressure is taking over if you look at the past two days.
trade what you see... not what i post.. i was looking at r/r,, and that retrace number was on my calculator
those who can, do. those who cant, talk about those who can
  • #78,928
  • Mar 23, 2009 3:16pm Mar 23, 2009 3:16pm
Quoting gatorinla
trade what you see... not what i post.. i was looking at r/r,, and that retrace number was on my calculator
at that r/r i could be wrong 1/14 times and still be..
those who can, do. those who cant, talk about those who can
  • #78,929
  • Mar 23, 2009 3:18pm Mar 23, 2009 3:18pm
So where is the news leak about bernanke's upcoming talk?
  • #78,930
  • Mar 23, 2009 3:22pm Mar 23, 2009 3:22pm
Gone short at 1.3638.
Good Trading. (keep it simple).
  • #78,931
  • Mar 23, 2009 3:38pm Mar 23, 2009 3:38pm
DX ... Daily and Weekly Charts

Today on the DAILY Chart, we have a Doji (indecision) made after a "harami" on Friday. The Weekly chart looks weak, and we could see a break of last week's lows this week.

As long as last week's low holds we should see DX Bounce.
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  • #78,932
  • Mar 23, 2009 3:40pm Mar 23, 2009 3:40pm
Quoting richboy1972
why short?
IF go higher Then 1.37 and maybe....more "Just my thought"
Edit my sl more 5 pip :1.3665 higher than last 4H candle
  • #78,933
  • Mar 23, 2009 3:57pm Mar 23, 2009 3:57pm
Quoting Byrd
...Seems like downward pressure is taking over if you look at the past two days.
I have the other side of that trade atm... sure you're not seeing what you think instead of what you're looking at...?

Here's the thing... The shaded goldish bars are my 2 current LONG TERM S/R zones for this region. A little fudgy and sometimes I tweak them a few pips, but no worries, it's the Zone you want to define and if you see it a little differently, that's fine. The 3660 green line could as easily be a shaded bar as well, but since that's where we're at, I just use a line for clarity.

My point... price is currently Churning a'rd just about at the halfway point between those two zones... What typically happens at almost ANY 50% level on any pair...? I know... 50% of What?? Well in this case, my S/R zones, and I'm trading accordingly.

What is fairly clear is yes there is some firm Resistance at a'rd the 3740 level, and the support levels are a little wobbly BUT the Buyers have stepped in with enthusiasm a'rd the 35ooish levels, we're regained all lost ground and wound up smack back in the middle of the 3660 zone. Above MY red TL anyway, yours may be higher as mine is drawn off the candle shoulders instead of the wick tops.

Just an alternative viewpoint...
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FUBAR...
  • #78,934
  • Mar 23, 2009 4:14pm Mar 23, 2009 4:14pm
Good morning/evening,

When I woke up this morning and the DOW was trading 400points up I thought my short over night must have been stopped out.
Went short last night at 1.3643 sl 1.3714 tp 1.3523, now I switch on my computer and check my account tp had been hit while I been sleeping what a beauty +120pip!
Anyways EUR looks the same as before, only that the "gap" had been closed.
Last week it went up like a rocket, this week it wants to get back down see bars in circles.
My game plan will be displayed on the chart.
Good trading everyone!
see chart:
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Trade on your own risk Plan your trade&trade your plan dont be a
  • #78,935
  • Mar 23, 2009 4:40pm Mar 23, 2009 4:40pm
yeah somethings up.. maybe the big boys are setting a bear trap..dow up 500 and we dont get back to sunday nights high..it blew through this s/r but now cant do it.. i did a little math and came up with 1.3639 as a possible retrace.. then a little s/r and came up with 3639/46 area... it did pass it some but came back..i guess asian session will tell part of the next chapter.. im shure asia will rally if eu dont maybe reality is setting in.. e-zone will sell less beamers if they cost more to u.s. first less to u.s second less to europe.. and much less to japan
those who can, do. those who cant, talk about those who can
  • #78,936
  • Mar 23, 2009 5:16pm Mar 23, 2009 5:16pm
Euro trade.
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  • #78,937
  • Mar 23, 2009 5:24pm Mar 23, 2009 5:24pm
any clue as to what ECb will say @12 midnight.
  • #78,938
  • Mar 23, 2009 5:33pm Mar 23, 2009 5:33pm
EUR-USD made a nice bull move last week. But on Friday we were not able to break above the 1.3738 level and formed a Harami. Which brought the bears in the market.

The Weekly chart is still bullish as we have broken above 1.3093 resistance and have formed a "W" formation. This formation is only valid if the prices can move above 1.4719 level. (See Weekly Chart). In the mean time we have resistance coming in at the 61.8% retracement level, around 1.3855, where the down trend line and 61.8% level meet.

The DAILY chart closed with a DOJI today. Indicating that the participants are undecided. Only a break above last week's high (1.3738) will convince the bulls back in the market. Till then we may have a short term top, and the prices could retrace 38.2% of this bull move to 1.3248 area. (See DAILY Chart).

On the 4 H, and HOURLY chart we see consolidation (ranging prices). A break above or below this range will bring in new buyers and sellers.
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  • #78,939
  • Mar 23, 2009 5:50pm Mar 23, 2009 5:50pm
As of late this afternoon, my master fib has yet to give any indication that there will be a continuation of this up move. The DOW is most likely responsible for stalling out the euro with it's late day spike. According to my fibs, this up move is over. It could continue if price can get up to close above 1.3737, but this beast looks tired, and is overbought now on the daily chart. She could certainly go higher, but there is no indication of that for now.
Despite the EU's effort in trying to stay afloat in this economic collapse by refusing to go into debt like the US, they will not escape, they are only creating a bubble haven in their currency by making it look safe to the worlds money. When the Euro bubble bursts the EU is really gonna feel the pain, and it will then send the dollar through the roof.

Very short term there is a small inter range long in play at the moment. This trade is seen on both the 30min and hour charts. The target for this small long is 1.3704..A little over 80 pips. I think she can do it, but price should remain in this tight range until EU opens their mouth later this evening.

Good trading to you all,

Scotty B
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  • #78,940
  • Mar 23, 2009 5:57pm Mar 23, 2009 5:57pm
Quoting MackS10
Euro trade.
Wow!
@ 1.3650, How much of Your account do you intend to offer? 0.5% or higher.
Sorry but I do get a little miffed when posts Not Only Predict the next Move but Also the One After.

How do you circumsize a whale? send down 4 skin divers.

Trade NOW. Look to the Future.
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