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  • #1,341
  • Apr 12, 2007 9:36pm Apr 12, 2007 9:36pm
Quoting yipcarl
The last 4 hour candle is a hammer? Can you be more specific? If you are talking about the eurusd, I don't see any hammers at all even close for at least 2 days?!?!?! I wouldn't argue this pair is going higher, there is nothing good insight for the us dollar but a hammer, not at all.

Ryan
It was a hammer when he posted it but now it's on a flight somewhere.
"Only when the tide goes out will we know who is swimming naked."
  • #1,342
  • Apr 12, 2007 10:00pm Apr 12, 2007 10:00pm
I've been thinking alot about the USD. Here's my summation. The US is going into a recession there is no way around it, maybe even a depression. As the mortgage deliquences get worse the Fed WILL BE FORCED to lower rates so what's happening? The market is pricing ithis in AND where is all that money going, into a can in the backyard? NO, it's pushing the JPY carry trades further and further. The ECB will raise in June and the US Fed will lower. Look for the EUR/USD to breach all previous and charge on! Hi Ho Tido! I'm getting long and staying that way and buying the dips.
  • #1,343
  • Apr 12, 2007 10:02pm Apr 12, 2007 10:02pm
Thanks for the clarification. Generally I don't talk about candles until they are closed...cheers!
  • #1,344
  • Apr 12, 2007 10:06pm Apr 12, 2007 10:06pm
Quoting yipcarl
Thanks for the clarification. Generally I don't talk about candles until they are closed...cheers!
It was closed.....
  • #1,345
  • Edited 10:24pm Apr 12, 2007 10:13pm | Edited 10:24pm
Humm? I'm really confused? I wonder if our data feed is the same? Do you have screenhunter or something you can take a picture of your candle so I can see it? I'll send you a screenshot of mine, because no 4 hour candles today have been a hammer?

Also my last post was in response to

It was a hammer when he posted it but now it's on a flight somewhere.

I'm not sure what he means on a flight somewhere but this infers it wasn't closed and since I can't see one on my 4 hour chart, I assumed/hoped he was right! lol
  • #1,346
  • Apr 12, 2007 10:24pm Apr 12, 2007 10:24pm
Quoting luqmanz
I'm still holding my long from 1.3355. Let's hope it goes higher.

Well Done Luqmanz, i have been long since around that level although i may have to close tomorrow before the announcements!

Cheers!
  • #1,347
  • Apr 12, 2007 10:41pm Apr 12, 2007 10:41pm
Quoting yipcarl
I've been thinking alot about the USD. Here's my summation. The US is going into a recession there is no way around it, maybe even a depression. As the mortgage deliquences get worse the Fed WILL BE FORCED to lower rates so what's happening? The market is pricing ithis in AND where is all that money going, into a can in the backyard? NO, it's pushing the JPY carry trades further and further. The ECB will raise in June and the US Fed will lower. Look for the EUR/USD to breach all previous and charge on! Hi Ho Tido! I'm getting long and staying that way and buying the dips.

Although I agree buying the dips is the strategy here I have to disagree with you on the rate cut. In my opinion we'll see a rate hike somewhere in the 3th or 4th quater. But that's just me.
  • #1,348
  • Apr 12, 2007 10:56pm Apr 12, 2007 10:56pm
Hey can someone tell me how to use that grey box denoting another users response? I feel retarded but hey, that isn't the fist time!

Interesting, a rate increase? Holy, I can't imagine how they could do that? Do you agree that the US housing market will implode? If so how can they justify a rate increase?
  • #1,349
  • Apr 13, 2007 12:02am Apr 13, 2007 12:02am
Quoting yipcarl
Humm? I'm really confused? I wonder if our data feed is the same? Do you have screenhunter or something you can take a picture of your candle so I can see it? I'll send you a screenshot of mine, because no 4 hour candles today have been a hammer?

Also my last post was in response to

It was a hammer when he posted it but now it's on a flight somewhere.

I'm not sure what he means on a flight somewhere but this infers it wasn't closed and since I can't see one on my 4 hour chart, I assumed/hoped he was right! lol
There is actually two other hammers on this trend up but the one I was talking about was on the last little bump. If you look at the first two they were clean big strong hammers. The one I was pointing to was the wimpy little funny looking pointy headed hammer. Still resulted in a move up.
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  • #1,350
  • Apr 13, 2007 12:22am Apr 13, 2007 12:22am
Quoting luqmanz
I'm still holding my long from 1.3355. Let's hope it goes higher.
I'm long at 1.3351, Just placed the order for 500k, lets hope this one breaks out overnight!
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  • #1,351
  • Apr 13, 2007 2:02am Apr 13, 2007 2:02am
Quoting BOJTrader
I'm long at 1.3351, Just placed the order for 500k, lets hope this one breaks out overnight!
Currently ticking at 1.3516
500k= 500 standard lots

1.3516 - 1.3351= 165 pips x 500 lots x 10 = $825,000 profit

or do you mean 5 lots?
"Only when the tide goes out will we know who is swimming naked."
  • #1,352
  • Apr 13, 2007 2:06am Apr 13, 2007 2:06am
I meant 5 lots , I wish I had the capital to trade 500.
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  • #1,353
  • Apr 13, 2007 2:15am Apr 13, 2007 2:15am
Quoting BOJTrader
I meant 5 lots , I wish I had the capital to trade 500.
You said 500k and there are some of us who knew what you were saying.
500k = 5 lots....that other guy might not have understood.
  • #1,354
  • Apr 13, 2007 2:22am Apr 13, 2007 2:22am
No I understood but with a name like BOJtrader you just never know.
"Only when the tide goes out will we know who is swimming naked."
  • #1,355
  • Apr 13, 2007 8:02am Apr 13, 2007 8:02am
I´m new here, but not in forex trading...
I will say that at this level ( now 1,3540) is my beginning level to accumulate short positions.
The best thing that can happen to you is to find out where you're wrong.
  • #1,356
  • Apr 13, 2007 8:33am Apr 13, 2007 8:33am
Quoting Driver55
I´m new here, but not in forex trading...
I will say that at this level ( now 1,3540) is my beginning level to accumulate short positions.
Can't tell where it will go right now, best to wait to the news in 30 min.
10:00am USD Consumer Sentiment (p)
  • #1,357
  • Apr 13, 2007 8:59am Apr 13, 2007 8:59am
The stops above previous high at 1.3660 should be taken out no matter what and regardless of any news..
  • #1,358
  • Apr 13, 2007 9:57am Apr 13, 2007 9:57am
looks like is going down!!!
but bit scared to sell, because the strong bull trend from the last few days.
What do you guys think?
  • #1,359
  • Apr 13, 2007 10:00am Apr 13, 2007 10:00am
Quoting Zheny
looks like is going down!!!
but bit scared to sell, because the strong bull trend from the last few days.
What do you guys think?
Its going down.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #1,360
  • Apr 13, 2007 10:13am Apr 13, 2007 10:13am
What a great trading week it has been for the Euro. My long position has been closed at 1.3510.
I still belive the euro will head higher as the 1.3480 level should provide great support.
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