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  • #86,861
  • Apr 18, 2009 8:43am Apr 18, 2009 8:43am
Attached is what I see happening over next few days-I have a few shorts open which I intend to offload at 2900 levels. I see 2900 on H4 and D1 as early as Monday, Tuesday.

However the rectangular region could also be a good support to bounce off. I plan to buy at 2850 levels. Based ofcourse on how price behaves there. That is just my 2 cents.
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Click to Enlarge Name: NxtWeek.jpg Size: 75 KB
Its all in the mind.
  • #86,862
  • Apr 18, 2009 8:48am Apr 18, 2009 8:48am
Quoting 5abi
Attached is what I see happening over next few days-I have a few shorts open which I intend to offload at 2900 levels. I see 2900 on H4 and D1 as early as Monday, Tuesday.

However the rectangular region could also be a good support to bounce off. I plan to buy at 2850 levels. Based ofcourse on how price behaves there. That is just my 2 cents.
i can see it bounce many times..my post was longer direction... i will short on the bounce and eventually dig in.. this could be painfull...back and forth..


later gotta take care of life..

i rarely post weekends
those who can, do. those who cant, talk about those who can
  • #86,863
  • Apr 18, 2009 8:53am Apr 18, 2009 8:53am
Quoting 5abi
Attached is what I see happening over next few days-I have a few shorts open which I intend to offload at 2900 levels. I see 2900 on H4 and D1 as early as Monday, Tuesday.

However the rectangular region could also be a good support to bounce off. I plan to buy at 2850 levels. Based ofcourse on how price behaves there. That is just my 2 cents.
our numbers are close.. i got 2871
those who can, do. those who cant, talk about those who can
  • #86,864
  • Apr 18, 2009 8:56am Apr 18, 2009 8:56am
i did not.. but exports down 25% tells the big story..
those who can, do. those who cant, talk about those who can
  • #86,865
  • Apr 18, 2009 8:57am Apr 18, 2009 8:57am
later folks
those who can, do. those who cant, talk about those who can
  • #86,866
  • Apr 18, 2009 8:58am Apr 18, 2009 8:58am
I reckon so too-Actually I am only 50 % sure of EUR weakness. But eventually USD strength will prevail. You got me to thinking that Oil is rising, and so is USD strenth. strange.strange!! Is not EU expected to go strong with Oil?? Come summer, we in USD will yearn to go road trips and camping, raising OIL, which atleast theoratically should weaken the dollar- but may also force ECB to cut rate down to 1 or .75 meaning further downside in EU. Ohh my-talk of conundrums.

Here is my take on it, 3-4 months from now, when oil will continue to rise, USD will curiosly become stronger.

Hey btw Where do you find the EX and UX charts for MT4??

Quoting gatorinla
the chart L is euro index chart R is usd... on the fib shown the euro has recently passed below the 50% mark.. the usd is sitting just below the 50% fib mark...this is part of the reason i am only 75% commited to the eu weakness...but 75 % for me is strong... once usd closes a day or 2 or wk above this i will be closer to 90% sure.. ill never be 100%....both charts show a upper trend... but the euro is on the lower trendline.. this may explain why its being held up and not just a straight line down...i also have shown this chart to show that trend...
Its all in the mind.
  • #86,867
  • Apr 18, 2009 9:02am Apr 18, 2009 9:02am
DEFINITELY-BOUNCES on the forex and of other hydrocarbon variety are all that keep me alive

Yes am off too to some obscure lil town Pecos some 400 miles from here. This is my second real love in life, to go out and out, roads, and these drives. so long!

Quoting gatorinla
i can see it bounce many times..my post was longer direction... i will short on the bounce and eventually dig in.. this could be painfull...back and forth..


later gotta take care of life..

i rarely post weekends
Its all in the mind.
  • #86,868
  • Apr 18, 2009 9:04am Apr 18, 2009 9:04am
Quoting Fys
Hi all,

did you see the current price? It's fall down to 1.2544/1.2546 after today Trische speech in Japan.

Good pips to all

http://www.forex-markets.com/quotes.htm

Can anyone confirm this? All the sites I'm checking have different quotes from 1.254 all the way up to 1.3058.
  • #86,869
  • Apr 18, 2009 9:06am Apr 18, 2009 9:06am
i have 3038

Quoting F.x.
Can anyone confirm this? All the sites I'm checking have different quotes from 1.254 all the way up to 1.3058.
Its all in the mind.
  • #86,870
  • Apr 18, 2009 10:15am Apr 18, 2009 10:15am
yes thats true..there was over the weekend dealings..more report here....more
Imanuel Parsifal
  • #86,871
  • Apr 18, 2009 10:24am Apr 18, 2009 10:24am
wow dude if that is true, may god be with those who were long without a stop....





Quoting sycho
yes thats true..there was over the weekend dealings..more report here....more
Its all in the mind.
  • #86,872
  • Apr 18, 2009 11:16am Apr 18, 2009 11:16am
As you can see here on the weekly chart we have have very bearsish looking price action on the eur/usd with this break out from the pennant. You can see that we bounced off of the downward trending resistance line that makes up the top of this triange and are once again heading towards the bottom of the pattern at about 1.25. Also something to note is that when you project a target for the pennant price pattern you take the "flag pole" and project it from the breakout. This would put us right back where the flag pole starts at 1.25 as well.

A descending triangle usually completes its pattern at least about 3/4 of the way between the interesecting downward trending line and horizontal support line. Therefore, we should get a breakout to either the downside, (below 1.25 tareting 1.20 and then 1.16 initially and heading towards parity), or a break to the upside above the doward trending resistance line which would send us back towards 1.47-1.50 level.

The coming weeks will be very crucial in determing this pairs direction. A descending triangle is "usually" a bearish continuation pattern; however, with all of the rejections off of the 1.25 level when fundamentals were stronly backing the dollar and things a bit more uncertain now, I'm not sure if the dollar is strong enough to break that phychological level.

It's going to be interesting. So short presently targeting overall 1.25 but first 1.29.
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1240071037
  • #86,873
  • Apr 18, 2009 11:32am Apr 18, 2009 11:32am
Well, I'm not quite sure what to believe at this moment. Some people are saying the Euro is at 1.254 and others are posting charts and things as if they are oblivious to a 500 pip dip. Even if it is technically at 2540, I'm still unclear as to how commercial brokers (Oanda in particular) handle this type of thing.

For example... if you went long on Friday at say 3100 w/ SL at 3000, and the Euro dives to 2500 over the weekend, but you close your position over the weekend before the Oanda platform becomes active (so the price is still at Friday's close - still at 3100) then what happens w/ your order?

Does Oanda wait till market open then close your position at the SL which would be 3000 as if hit during the weekend before you had a chance to close it manually? Or do they close it at 3100 which was the quoted weekend price at time you manually closed the order?
  • #86,874
  • Apr 18, 2009 11:52am Apr 18, 2009 11:52am
Quoting F.x.
For example... if you went long on Friday at say 3100 w/ SL at 3000, and the Euro dives to 2500 over the weekend, but you close your position over the weekend before the Oanda platform becomes active (so the price is still at Friday's close - still at 3100) then what happens w/ your order?
That's a good question. As I know, most brokers shut down their platforms over the weekend, not giving users a way of closing out an open position or editing that open position. The way I see it, if a broker doesn't let it's user adjust/edit/close an open position, then that trader is SOL. If that is the case, that trader will experience a negative 500 pip gap on Sunday.

I'm unsure of what to do if a broker's platform is able to let it's users edit/close an open position, as I've never had a broker with weekend hours.
  • #86,875
  • Apr 18, 2009 12:02pm Apr 18, 2009 12:02pm
I don't know a lot of brokers, but most i know only execute orders while they're open, this is valid for t/p and stop loss. This means that if you have, for example an open order long with stop loss @ 1.29, when the broker opens on Sunday/Monday morning, if the price is below that, it's closed at whatever price, meaning if it is 1.2546 (like now) you'll have that whole lot more pip drawdown.

On the other hand, if someone is short with a target profit of 1.29, when the broker opens it will fill the order immediatly if the price is below that, meaning a lot more profit too
Traders are smartasses
  • #86,876
  • Apr 18, 2009 12:06pm Apr 18, 2009 12:06pm
Hi All,
would like to share a thought,

http://www.forex-markets.com/quotes.htm

the above web site is powered by Netdania solutions through the source of Tencore (www.tencore.com).

Tencore is a corporation related to Morning Star that has data feed through Netdania Solutions (www.netdania.com)

if you open the netdania website, you will not be able to get that price for eurusd.

just a thought that i would like to share
  • #86,877
  • Apr 18, 2009 12:08pm Apr 18, 2009 12:08pm
Everybody think EURO going to crash to 1.25........but I don't buy that.......I think 1.2990-1.330 area has good support..........USD has appreciated during the low volume period of last week.........things will start Monday.........plan to go long can Sunday during Assian session around 1.2990 1.300 to SL 1.29 TP 1.33 ......... already long on EU/JPY hope things will go north soon..........


Quoting F.x.
Well, I'm not quite sure what to believe at this moment. Some people are saying the Euro is at 1.254 and others are posting charts and things as if they are oblivious to a 500 pip dip. Even if it is technically at 2540, I'm still unclear as to how commercial brokers (Oanda in particular) handle this type of thing.

For example... if you went long on Friday at say 3100 w/ SL at 3000, and the Euro dives to 2500 over the weekend, but you close your position over the weekend before the Oanda platform becomes active (so the price is still at Friday's...
BANDA333
  • #86,878
  • Apr 18, 2009 12:14pm Apr 18, 2009 12:14pm
Quoting F.x.
Can anyone confirm this? All the sites I'm checking have different quotes from 1.254 all the way up to 1.3058.
Yep this is strange, but I seem to remember it happened a few weeks ago as well.
Not sure where they get their feeds from but I think theyr'e way off.
  • #86,879
  • Apr 18, 2009 12:21pm Apr 18, 2009 12:21pm
Whoever believes EU is dropping 500 pips over the weekend (when there is practically no volume), boy do I have a "bridge to sell you" wherever you are located. You send me the money and I'll ship the bridge, brick by brick, to you by Fedex.
  • #86,880
  • Apr 18, 2009 12:23pm Apr 18, 2009 12:23pm
Quoting Maxsmart
As you can see here on the weekly chart we have have very bearsish looking price action on the eur/usd with this break out from the pennant. You can see that we bounced off of the downward trending resistance line that makes up the top of this triange and are once again heading towards the bottom of the pattern at about 1.25. Also something to note is that when you project a target for the pennant price pattern you take the "flag pole" and project it from the breakout. This would put us right back where the flag pole starts at 1.25 as well.

A...
Hi Max,

Sort of agree with you but I think we're heading north fiirst then down to 125-ish maybe lower.

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