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  • #11,301
  • May 7, 2009 9:49am May 7, 2009 9:49am
eur/aus daily

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  • #11,302
  • May 7, 2009 11:13am May 7, 2009 11:13am
Quoting jack.canadia
Pound double top? Still optimal to enter. Stop just above 5155.
Double. Top.

After the news spike, an entry at 1.52 could have been considered or taken again at 5150. Looking at +200 now.
  • #11,303
  • May 7, 2009 12:03pm May 7, 2009 12:03pm
Nice call. Did you actually trade it? 15 pip stop would've been taken out, but there were decent re-entries available.
  • #11,304
  • May 7, 2009 12:09pm May 7, 2009 12:09pm
Quoting smittens4212
Nice call. Did you actually trade it? 15 pip stop would've been taken out, but there were decent re-entries available.
I did twice. My first was +20 and the second got stopped overnight BE during the news

Aw well. I am looking to short again.
  • #11,305
  • May 7, 2009 12:09pm May 7, 2009 12:09pm
Quoting smittens4212
Nice call. Did you actually trade it? 15 pip stop would've been taken out, but there were decent re-entries available.
And my stops are never much wider than that...So I have to sit and wait for the quality entry. I like money too much to lose it.
  • #11,306
  • May 7, 2009 12:17pm May 7, 2009 12:17pm
Heh, I don't blame you. I use similar sized stops and try to get as best an entry as possible. Can make it more of a hassle to get those big moves though, which sucks.
  • #11,307
  • May 8, 2009 1:19am May 8, 2009 1:19am
Good Morning

It is NFP day so I will be looking at what I can get in the first part of London session.

Looking at yesterday and US ADP figures earlier in the week, todays news could give us just about any reaction you care to mention.
  • #11,308
  • May 8, 2009 4:01am May 8, 2009 4:01am
USD/CAD buy @1.1540 - 1.1500. i prefer 1.1540, cs it really has a old old history from 2006. Time for sellers to take some profits in these lvl's

AUD/USD is near old resistance @0.7645 (on a 15min chart) and @0.7700
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  • #11,309
  • May 8, 2009 8:23am May 8, 2009 8:23am
Quoting Gambis
USD/CAD buy @1.1540 - 1.1500. i prefer 1.1540, cs it really has a old old history from 2006. Time for sellers to take some profits in these lvl's

AUD/USD is near old resistance @0.7645 (on a 15min chart) and @0.7700
I was looking at the CAD trade all week and started buying 1.170 and closing because NFP scared me.

I like the zone you indicated ... Some indication from the weekly close that we are bought up off this level would be nice.
  • #11,310
  • May 8, 2009 9:49am May 8, 2009 9:49am
Quoting smittens4212
eu
Nice call on the 1.35 area earlier this week Smittens.

1.36 coming up next.
  • #11,311
  • May 8, 2009 9:55am May 8, 2009 9:55am
Quoting jack.canadia
I was looking at the CAD trade all week and started buying 1.170 and closing because NFP scared me.

I like the zone you indicated ... Some indication from the weekly close that we are bought up off this level would be nice.
Yes, me too! Took losses all week on this one, or stopped out at BE! Crazy...
  • #11,312
  • May 8, 2009 10:46am May 8, 2009 10:46am
Possible H&S on this pair, 4H and 1H charts. Dont like to stay in over the weekend, but if could get funded, maybe.....

SR
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  • #11,313
  • May 10, 2009 8:52pm May 10, 2009 8:52pm
1.37-1.375 EUR/USD, nice weekly level for shorts.
  • #11,314
  • Edited May 11, 2009 12:12am May 10, 2009 11:46pm | Edited May 11, 2009 12:12am
I feel like the rotten husband who pays the mortgage but never spends time with his wife. Metaphorically speaking, of course.

GU forming a nice channel right now with 1.5193 holding for short term support sighting further downside if broken...... Levels above are obvious from a 4 hr, with the most significant coming in around 1.5535.

Below, chart marked off with high from last week and common bottom of the bucket pattern.

But its a new week. I'm looking for a bigger fade this week, especially with all the hooplah and buying going off last week. Devaluation of the dollar is a long term scheme which will weight down stocks. Short term, we're still correlated with equity markets, and I'm not bullish.

S&P futures showing an opeing gap unfultfilled this morning - I'm looking for that to taken care of relatively soon.

EU and GU have been showing alot of intraday disconnection lately, with EUR/GBP proving well on breakouts.
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  • #11,315
  • May 11, 2009 12:09am May 11, 2009 12:09am
USD/CHF 4 hr....in a clear downtrend, but bigger picture points to consolidating into a wedge pattern up.

.0970 is the ex-50% retracement of this major move, 1.1156 or 1.1243 is the trend continuation play.

Just what I'm concentraing on shorter term........
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  • #11,316
  • Edited 12:30am May 11, 2009 12:11am | Edited 12:30am
Quoting BillyRayValentine

GU forming a nice channel right now with 1.5193 holding for short term support sighting further downside if broken......
Just busted...we'll see if it holds.

1.5122 shortest term area below....good interim target.
  • #11,317
  • May 11, 2009 12:15am May 11, 2009 12:15am
Dont let this be you: http://www.forexfactory.com/showpost...ostcount=94502




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  • #11,318
  • May 11, 2009 12:23am May 11, 2009 12:23am
So you missed the breakout at 1.5190 - no big whoopie.

Scroll down to a 1 min chart (yes, all the way down)

Take a look at the last wave. Price comes up, knocks the last support area, now turned resistance, and comes off of it (Sell at 1.5194). Able to lock in at breakeven if you want to just in case the buyers snap in again, which they could.
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  • #11,319
  • May 11, 2009 12:23am May 11, 2009 12:23am
Quoting BillyRayValentine
USD/CHF 4 hr....in a clear downtrend, but bigger picture points to consolidating into a wedge pattern up.

.0970 is the ex-50% retracement of this major move, 1.1156 or 1.1243 is the trend continuation play.

Just what I'm concentraing on shorter term........
Hi Billy

I have been looking at USDCHF to go short at 1.1171 area which is an overlap of the 38.2% retracement of the current move down and previous support.



C
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Boxing clever since 76.
  • #11,320
  • May 11, 2009 12:28am May 11, 2009 12:28am
Quoting copi88
Hi Billy

I have been looking at USDCHF to go short at 1.1171 area which is an overlap of the 38.2% retracement of the current move down and previous support.



C
Another potential, yes sir. Watch how price is behaving once it gets up there. If its slow and steady, might be worth a shot. Spastic and out of control, let her be.
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