EURUSD

off topic .. is US stock market opened later? i need to check on my personal titanic mutual fund

BANK HOLIDAY:

Banks from around the world are closed today (French, German, Italian, Canadian, British, Australian and New Zealand). There is going to be very little volume. Best not to trade today. Forex should pick up in Asian session on Monday. European session on Tuesday will bring back the professionals and banks. Then we should see volume come back as well as good trading opportunities.

yes I believe it is - btw - nice comforting name for a mutual fund - I'd buy into it -

I know, but it is moving quite well. I can see a short below 1.3167 but it really does not need to trade above 1.3176.

what/why is weird?

thing just blew north a bit; where's the call for 1.6000?

maybe they are waiting for more confirmation before calling for 2.000

Pfft! Maximize your profits mate. This baby is heading to 1.8500 in the next 15 minutes

shwwing - outstanding - and we heard it first from "Da Man" himself - I'm on board - 50% of account - anybody with me?

http://lh3.ggpht.com/_VaTKkTYQAQ4/Se...emanSaddam.jpg

i am long know due to the insights of jay the man

10 standard lots demo account

What are you, some kind of wuss? You should go for at least 20 lots!

It does now look that it is trying to test the 1.3227 area!! And your poss short below this could be a good idea.

http://i41.tinypic.com/2a67exi.gif

Hmmm...bears back?

... Lets say we don't get a close above 1.3219, & we get a short signal below 1.3193, it should be worth taking it.

wave analysis

max. to 1.3232(62% fibo) further sell

Well now. The moment I've been waiting for all day. Last week a downtrend developed with the channel walls clearly visible now. The upper wall of the downtrend is currently being tested which also coincides with the 1.3225 area which should be strong horizontal resistance now. I have placed a short position (half size) based on just that. I am quite curious as to whether we are headed south hard this week with this being the high of the week or the range between 1.3100 and 1.3400/25 continues. Lets see

I'm curious, if you go in with half a position and it goes against you....are you only half wrong?

i would like to ask, shouldnt it be the fifth line be pointing up? you just made up the the fourth line, please correct me if im wrong.

and also from your chart, after (a), (b) and (c) is completely formed, we can see the prices would go down deeper?

thanks

..your hilarious. I guess you could put it that way. On that note if it goes in my direction would you say I'm half right? Quite the dilemma isnt it.



I like to view it as confidence levels. Before entering any trade I analyze the most likely outcome given my entry. It is measured let's say on a scale of 1-10 using my #1 indicator (gut feeling). So, let's say a strong resistance is hit as was the case just now, I am looking for an entry. I ask myself, break up or bounce off the resistance here? On the scale my gut feeling says I have a 5.1 chance of being correct if I place a short. This is due to the fact we have been ranging since thursday and its hard to interpret what market makers want to do at this time however the trend is clearly down (just check the weekly chart). No news, no patterns no nothing except this one observation.

As for this trade, I like to consider it as an opportunity I would rather not miss then let it pass me by and me not take advantage of it...even if I do get stopped out it is a risk worth taking...on half a position haha.

Sidenote: if my gut feeling on the scale was above 7 lets say...that would qualify for a full position. It would mean other parts of my strategy were seen and taken into account