EURUSD

I think the high in this last bulls run is in place and [email protected] for now. PA should revert to consol mode and we shall see if it succeed in getting another shot at making new high or it will be sold down once r/s line is determined when price is in consol mode.

GL and happy pippings all

Right, they finished just in time for lunch.

NOTE: This may be complete nonsense, but it is how I see things going down. I post it here so I can be corrected.

As I was saying:

Given the fact I would get the order in the morning to sell let's say 10M EURO. The at New York close was hovering around 1.600 so this is what my client is expecting to get ~16M USD. What would I do if I had to do this trade?

1. Observe the strong bullish sentiment in the market.
2. Observe the bullish (yet fading) monday moves.
3. Observe the three consecutive lows during the asian session pointing upwards and forming a support trendline
4. Observe the 1.3670ish resistance monday night.


What I wanna do is then, wait for a better price to set in (since the bullish morning I am safe for the moment), then take action but preferably before lunch time to be finished. (Who wants to wait forever? I am just selling the damn stuff it's not mine).

Let's see... if I can get and sell off all my stuff in a place where lots of BULLS would buy, then I'm done quick and off to get my fish in chips. Where would that place be?

Best guess is at the intersection of 1.3633 (monday Resistance line) and the newly formed uptrend support line. Yes! That's where a lot of people would buy and I'd be done quick and at a good price. Doesn't matter what price does after. 1.3633 is better than 1.36 expected.

So... how do I achieve this? (well personally I don't know). Watch the blue dot in the image below. I was following quotation from an ECN. Ask was frozen for minutes on end... Wonder why?

The dollar's broad value against a basket of currencies fell on Tuesday to a four-month low and the euro rose to a seven-week high as optimism the worst of the economic crisis is over boosted oil and share prices. British data showing a slowdown in the pace of manufacturing decline was the latest economic indicator to bolster the bullish view of the global economy, intensifying the dollar's weak technical backdrop.
The dollar index fell to a four-month low of 82.271 .DXY, down 0.7 percent on the day, while the euro rose around 0.7 percent to $1.3677 <EUR=>, a level not seen since March 23.
Crude oil futures were up almost 2 percent at a new six-month high of $59.64 a barrel CLc1 and European stocks were last up 0.6 percent .FTEU3.

Time to sell?

sold overnight longs, now I short term trade until we get a clue as to what the US equity markets are up to.

yes! Boss

Managed to get in long at 1.3638 and again 20 points higher. Experiencing internet difficulties at the moment, so was luck my resting orders were in place. Hope others took the long off the retrace. Will probably be on and off the FF today. I have a TP at round number today and for market to get to 1.3800 even

ive been waiting for gu to get to 5281 before getting comfortable with eu long..its there now with bull sediment.. now lets see if equitys cooperate this morning.

I see also 1.38XX

In fact, I see no way to short this time, it is in uptrend. My target around 1.4xxx

took this trade based on cycle line if you are thinking of selling that is against the trend at the moment

partial TP at 1.3687

longs going well...
We have to stop those at 1.3800

Why? my friend, can you give me a reason?

thanx Atlast..

i am out office and this not my computer.. i redraw chart .. it may worth to see

Total longs closed out for now, 1.3692.
Will wait for retrace to build up for final push up

Next target 1.3740_?
1.3670 should hold..

Wow, looks like my m/t long still in good hand...

Dear traders
It is very dangerous for all of traders when you say "I think ..."or "maybe".Under law you must trade over 90% of forcaste.

Phalanx

we need to make a new high to reverse the trend to longs. in fact 1.40 would be better.
and then I'll be very happy