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  • #98,401
  • May 20, 2009 4:09pm May 20, 2009 4:09pm
Quoting Atlast
If you look at the daily bar, nearly every significant move up has been followed by an inside bar or near inide bar since the rally started 25 days ago.
This suggests it is not yet safe to go long with a reasonably small SL.
Thanks Atlast. Are you suggesting that one should wait for another higher low (HL)?
The Thief of Wall Street
  • #98,402
  • May 20, 2009 4:12pm May 20, 2009 4:12pm
Quoting Atlast
If you look at the daily bar, nearly every significant move up has been followed by an inside bar or near inide bar since the rally started 25 days ago.
This suggests it is not yet safe to go long with a reasonably small SL.
I'm happy to hear you say that. My take of the situation, according to my daily chart is that we can easily reach the mid 1.39's or more before too long, but I don't think it will be today! Also I see substantial retracements along the way.

This is very interesting
Doing what you like is Freedom. Liking what you do is Happiness.
  • #98,403
  • May 20, 2009 4:13pm May 20, 2009 4:13pm
Quoting Chicky
Thanks Atlast. Are you suggesting that one should wait for another higher low (HL)?
Only suggesting tomorrow late may be best day to take long
  • #98,404
  • May 20, 2009 4:13pm May 20, 2009 4:13pm
Quoting Chicky
It still is, until someone like you help me establish good relationship with trend. Identifying trend is my weaker point, and playin in its direction is the weakest of all.
When I get home within 2 hours from now I will post a chart that (IMO) clearly identifies the trend. Can't post chart from the office where I work, but @ 3 PM PST I'll be heading home.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #98,405
  • May 20, 2009 4:14pm May 20, 2009 4:14pm
Quoting Atlast
Only suggesting tomorrow late may be best day to take long
Thanks Atlast. I value your opinion and really appreciate your help.
The Thief of Wall Street
  • #98,406
  • May 20, 2009 4:16pm May 20, 2009 4:16pm
Closed my long for 5 pips, and I'll be waiting a few hours before entering new trades.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #98,407
  • Edited 4:17pm May 20, 2009 4:16pm | Edited 4:17pm
Quoting KillerWhale
When I get home within 2 hours from now I will post a chart that (IMO) clearly identifies the trend. Can't post chart from the office where I work, but @ 3 PM PST I'll be heading home.

Shamu
Thanks Shamu, I will be at home waiting. I am not sure if you got a chance to read my yesterday's delayed reply - I am at East Coast, NY.
The Thief of Wall Street
  • #98,408
  • May 20, 2009 4:19pm May 20, 2009 4:19pm
Quoting realjumper
I'm happy to hear you say that. My take of the situation, according to my daily chart is that we can easily reach the mid 1.39's or more before too long, but I don't think it will be today! Also I see substantial retracements along the way.

This is very interesting
Yes, all analyses here today show the upside potential clearly. It would make for a good ride when it happens.
  • #98,409
  • May 20, 2009 4:26pm May 20, 2009 4:26pm
heck college kids on facebook are talking about it.
  • #98,410
  • May 20, 2009 4:27pm May 20, 2009 4:27pm
Quoting gatorinla
dont give me that burden.. below 4910 were safe if equitys down fall continues. if we breach 4958 all bets off..both are s/r we may know soon..i looked at bloomberg futures.. i think info needs to be up dated.. last 2 days equitys fall before close.. maybe traders are getting scared to hold over night. just speculation.. trade what you see.. im bullish on this pair but know there is always a top.. i got green locked in..i would love for it to retrace a few days.. but ill jump back on the long ship just as easy above 4960 ish... as im writing i see...
Be burdened no longer my friend.

I have been studying forex for 7 years now and would never trade anothers hunch.

I have a small position with a semi tight SL just over the recent high. To me the risk to reward ratio on this was low and timing was right.
  • #98,411
  • May 20, 2009 4:36pm May 20, 2009 4:36pm
Quoting Chicky
Thanks Shamu, I will be at home waiting. I am not sure if you got a chance to read my yesterday's delayed reply - I am at East Coast, NY.
Wow, you always stay up that late to trade part of London session? It was 3:30 AM your time when you posted that.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #98,412
  • May 20, 2009 4:54pm May 20, 2009 4:54pm
Quoting TIckerShuffl
heck college kids on facebook are talking about it.
Yep, this is the time to go long usd then.
  • #98,413
  • May 20, 2009 4:56pm May 20, 2009 4:56pm
If it doesn't drop soon, we are looking at a bullish flag. usually exit the same way it enters.
  • #98,414
  • May 20, 2009 4:57pm May 20, 2009 4:57pm
longed it from here



The Feds purchase of $7.7 bln in 7 and 10-year treasuries in the morning, followed by purchases of $3.08 bln in Agency securities in the afternoon accelerated the dollar decline and the resulting rally in commodities --as was the case on March 18 when the Fed first announced purchases of long term treasuries. Todays dollar sell-off stood out from previous declines by the fact that EURUSD knifed through the key resistance of $1.3740 (failed 4 times this year) to $1.3830, and even sterling finally managed to break above its 200-day moving average vs USD--something that all majors currencies had achieved in previous weekssurging to a 7-month high of $1.5794.

ref:International Business Times
  • #98,415
  • May 20, 2009 5:04pm May 20, 2009 5:04pm
I am still learning japanese candlesticks, is that an evening star pattern on the EUR/USD? Morning star pattern on the USD/CAD?
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  • #98,416
  • May 20, 2009 5:12pm May 20, 2009 5:12pm
Not sure those candls sticks know what Oil is doing

Bascially Oil looks to tell the tale going forward, and BIG OIL wants their $70 oil...

I can not fight this bull. Closed shorts +1. lol
  • #98,417
  • May 20, 2009 5:14pm May 20, 2009 5:14pm
Quoting arthurb
Yep, this is the time to go long usd then.
I dont know art, I'm scared.

I think the strategy for me is to sit on my hands and wait for the next wave.

There is bearish divergence, but it could just take a breather, trend sideways until trendline support comes into play
  • #98,418
  • May 20, 2009 5:35pm May 20, 2009 5:35pm
...to everyone who has taken the time and energy to post to this thread. I have learned more lurking here than in many active Skype rooms..........

Hats off to you!
  • #98,419
  • May 20, 2009 5:45pm May 20, 2009 5:45pm
I didn't see the double bottoms yesterday. I was looking at the 3 tops. I missed a good long entry.
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  • #98,420
  • May 20, 2009 5:49pm May 20, 2009 5:49pm
At least you didn't lose 90 pips for holding your short

and gaining only 50 pips because you went away from you're strategy on GBP/usd and take the whole 300 pips... crap...

If anyone have a good solution for not taking profits to early i would have been pleased... trading in 90/300 scale...
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