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  • #103,181
  • May 31, 2009 10:19am May 31, 2009 10:19am
Quoting SunTrader
I will be watching the equities futures (mainly S&P500) tonight to see how they react to news GM is finally filing for bankruptcy protection.

I think too many fundamentals factors and news events (N.Korea etc) are lining up against stocks going higher so I expect USD strengthens and others weaken. We'll see.
I agree sun-trader. I am also watching usd/jpy which is pointing lower on all time frames. So if, IF, movement of eur depends only on usd on Monday, for eg, it will be influenced by movement in usd/jpy also.

As you said, too many political news also. In addition, on Friday there were roumors that few middle East investors sold $s and so we saw sudden jump in eur in the afternoon. Too much volotility. Not sure that techs work well under those conditions.

Generally I am hoping for eur long this week, but who knows?
  • #103,182
  • May 31, 2009 10:46am May 31, 2009 10:46am
If the 4 hour channel holds up, I think we could potentially be looking at 4300 in the next few days.

According to the Murrey Math indicator we're in an area of resistance, but this move started from an extremely oversold position so I wouldn't be surprised by an overbought situation.

Reading some of the analysts, that sounds like a theme going into the week.

http://www.fxstreet.com/technical/forex-signals/
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  • #103,183
  • May 31, 2009 11:30am May 31, 2009 11:30am
Quoting notch
May 29, 2009 7:59pm (47 hr ago) - Short scalps are definitely not an option - IMHO - at the moment. PA is showing signs of continuation.

perhaps continuation is the wrong word. It is showing signs of testing the highs.

NELLY: Price goes onto test highs before close: a 35 pip move!

I think I'll observe PA for a few hours after market open as the cockpit indicators are very mixed. But I expect to make a a couple of shed full of pips this week. It sometimes takes an entire weekend to eradicate bias illness!
  • #103,184
  • May 31, 2009 11:34am May 31, 2009 11:34am
Quoting cammomile
Hi Rednose/Chicky,

I started a spreadsheet (as a part of my system) calculating the daily range for EU (H-L). The data so far is from 21st April till Friday last week. The average for the bullish runs up for this period is 414 pips per run. On Friday the total bullish range for 2 days was already 435 pips, which is about average. So I am speculating that we will hopefully see about 100 pips up.

I think stats like this might help to get a feel for when the pair is about to turn together with the other confluential ( a new clever word...

Hmmm...very interesting. How did you come uop with this idea?
  • #103,185
  • May 31, 2009 11:36am May 31, 2009 11:36am
Quoting bagoomba
........... but this move started from an extremely oversold position ..........
On a H4 basis are you talking?

Because on a daily/weekly no way Jose.
  • #103,186
  • Edited 11:40am May 31, 2009 11:37am | Edited 11:40am
Quoting Chicky
Food for thought:

Market moves in three directions
1. Up
2. Down
3. Range (sideways)

Is this time for it to form a wide range around 1.4000 on daily timeframe?

Any thoughts will be highly appreciated.
Market moves in three directions
1. Up or down.
2. Range (reducing range - triangular range)
3. Down or up
..Range
  • #103,187
  • May 31, 2009 11:39am May 31, 2009 11:39am
Quoting notch
NELLY: Price goes onto test highs before close: a 35 pip move!

I think I'll observe PA for a few hours after market open as the cockpit indicators are very mixed. But I expect to make a a couple of shed full of pips this week. It sometimes takes an entire weekend to eradicate bias illness!


Good luck with that. Hopefully you'll not have to take the usual cure---losing your a$$.
  • #103,188
  • Edited 11:46am May 31, 2009 11:46am | Edited 11:46am
Quoting knuckledrag

Good luck with that. Hopefully you'll not have to take the usual cure---losing your a$$.

lmao...I'm cured now bbbabbbyyy!

I could not care less which direction it goes in. I'll tell you this though, I'll be riding/scalping it if it moves up or down. BUT, I'll scalp the short side or ride the long side until my trend indicator turns negative.
  • #103,189
  • May 31, 2009 11:50am May 31, 2009 11:50am
Quoting 99vt66
I dont normally engaged or comment on a method/system and other mumbo jumbo stuffs that we have in this forum but I would like to share some of my forex learning curve experience in my earlier days as I spotted a certain degree of thought process disseminating similarity here.
Furthermore I stand ready for anyone who is serious about forex to tweak my brain in their quest to becoming a trader like myself.

GL and success to you.......

Dude, I hope you have been a trader for more than a couple of months!
  • #103,190
  • May 31, 2009 11:54am May 31, 2009 11:54am
No Gap talk this week ?

GAP

There will be at least 100 up gap, that is almost a certainty in these conditions, adjust your trades accordingly.

GL all the gap-ers out there and have phun.
  • #103,191
  • May 31, 2009 11:54am May 31, 2009 11:54am
Hi Knuck! How u doing man? Got some beers on the table?

Cheers!
  • #103,192
  • May 31, 2009 11:55am May 31, 2009 11:55am
Quoting notch
Dude, I hope you have been a trader for more than a couple of months!
Yeah, he was laying it on pretty thick.

Maybe we can be twader like him sumday.
  • #103,193
  • May 31, 2009 11:56am May 31, 2009 11:56am
Quoting SunTrader
On a H4 basis are you talking?

Because on a daily/weekly no way Jose.
That's based on the Murrey Math analysis and confirmed by the RSI on a 15min chart. It moved below the "Extreme Overshoot" point late Wednesday and early Thursday.
  • #103,194
  • May 31, 2009 11:59am May 31, 2009 11:59am
Quoting notch
lmao...I'm cured now bbbabbbyyy!

I could not care less which direction it goes in. I'll tell you this though, I'll be riding/scalping it if it moves up or down. BUT, I'll scalp the short side or ride the long side until my trend indicator turns negative.
Do you use anything like fibs or pivots, or are you really just going off your AI thingy? I'm not poking fun or belittling your method, just wondering why you would ignore what large traders look at. (strict assumption, I don't know any large traders)
  • #103,195
  • May 31, 2009 12:02pm May 31, 2009 12:02pm
Quoting Rednose
Hi Knuck! How u doing man? Got some beers on the table?

Cheers!
Doing fine Have two for me

Hope your fine and following the trend.
  • #103,196
  • May 31, 2009 12:02pm May 31, 2009 12:02pm
Quoting arthurb
No Gap talk this week ?

GAP

There will be at least 100 up gap, that is almost a certainty in these conditions, adjust your trades accordingly.

GL all the gap-ers out there and have phun.

That's what I'm thinking too... Will likely open some longs, then close out for a few pips and look to build shorts to close the gap.
  • #103,197
  • May 31, 2009 12:06pm May 31, 2009 12:06pm
Price on both my brokers has gone up 10 pips and they aint even open yet.

I think gap up.
  • #103,198
  • May 31, 2009 12:09pm May 31, 2009 12:09pm
Quoting arthurb
No Gap talk this week ?

GAP

There will be at least 100 up gap, that is almost a certainty in these conditions, adjust your trades accordingly.

GL all the gap-ers out there and have phun.
100 pip up? why?
I mean I would welcome it for sure, but why? i think it might go for a double top and maybe to the 50% fib @ 1.4183 and I think its time to short from there.
But that just my opinion for now.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #103,199
  • May 31, 2009 12:10pm May 31, 2009 12:10pm
Quoting stewrigh
Price on both my brokers has gone up 10 pips and they aint even open yet.

I think gap up.
I opened my longs about a second before Oanda jumped 10 pips

Thought about closing but I want to see how it plays out...
  • #103,200
  • May 31, 2009 12:10pm May 31, 2009 12:10pm
Quoting arthurb
No Gap talk this week ?

GAP

There will be at least 100 up gap, that is almost a certainty in these conditions, adjust your trades accordingly.

GL all the gap-ers out there and have phun.

100pips gap up ? waow i have never seen before..
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