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  • #108,041
  • Jun 9, 2009 4:25pm Jun 9, 2009 4:25pm
One wise man advised not to pick tops and bottoms, but I cannot help nersing a semi on bottom, going from head to toe
The Thief of Wall Street
  • #108,042
  • Jun 9, 2009 4:28pm Jun 9, 2009 4:28pm
Quoting vinesh2
FOREX ATM why did you short 1.408 did you anything there? 1.404 was important reistance level we broke through it. You better have a good SL in place buddy
Vinesh...Notice the weekness at this level. 1.408 and the stretch to close the round up "1.41" was a huge sell signal. Where are the bulls...we will drift here and downwards to retest 1.40 and 1.3970 area.

i'm not sheep....i'm the sheppard
  • #108,043
  • Jun 9, 2009 4:28pm Jun 9, 2009 4:28pm
Buy order hit at 1.40018.

Need to take care with this as resistance is still intact.

TP1 at continuous green line (1.42317) and stop at dashed red line (1.37705).

Lets see.

Dazzer
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  • #108,044
  • Jun 9, 2009 4:28pm Jun 9, 2009 4:28pm
Quoting FX-Petra
This is decision time. Price slammed into the 61.8 fibo from Friday's down move, and the daily down trend line---both in near 1.4100. If we resume downward direction, 61.8 extension would bring us near the 1.3600 level. If we break through 1.41 then full retrace to 1.4260 would be likley, with resistance at 1.4150 area along the way.

I am short at 1.4095, TP1 @ 1.3810, TP2 @ 1.3650
Stop and revese long @ 1.4130, TP1 @ 1.4240, TP2 @ 1.4350 (near daily channel top).

Good luck to all!

agree, sitting on +200 pips from yesterday eurusd .... my plan is to get 1,4145 and my plan have been 50% correct for 4 years except 2007.... which was crap...

but I don't like the 4H H&S, but I don't like the debt US have either

Sticking to my plan

also long EUR/GBP for 40 pips from here...

blablabla..
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  • #108,045
  • Jun 9, 2009 4:43pm Jun 9, 2009 4:43pm
closed 3/4 of shorts for plus 12 pips.. still holding the other lossers at 3964 ca..i still think 4175 is the center of the universe. we did not have enough push to get below 3826 and hold...commodities still killing dollar for now.. maybe all the printed dollars are helping commodities stay up along with stocks.. its all relative.

bbl

very interesting

http://uk.biz.yahoo.com/08062009/323...4-pct-y-y.html
those who can, do. those who cant, talk about those who can
  • #108,046
  • Jun 9, 2009 4:50pm Jun 9, 2009 4:50pm
Hello guys...just wanted to give a recap of why the past 24 hours were so crazy. 150pips up..150+pips down...then 300pips up. You may ask yourself the reason....from a technical standpoint...there was a h&s with shoulderline at 1.4020/50 area or so on the hourly charts...clearly that is not valid anymore. There was a rising wedge in the shape of a bearish flag....which too broke up to the upside making it invalid. There was double tops and triple tops(5min/15min charts) which all broke to the upside.

And now where do we stand....a heavy resistance area at 1.4100 which was major support last week (draw a horizontal line at 1.4100 and look on the hourly charts back to last week..youll understand).


Still..all these technicals dont explain one bit as to this craziness. What does is...we had yet another massive bonds auction which was one of the highest of all time. That alone suggests a short term weakening dollar to sell as many bonds as possible.

Before I go one final note....wednesday and thursday will bring auctions equalling 20-30billion dollars so unless your scalping....think really hard if you truly know the trend for the week.

Good pippin all
Different opinions highly valued, ignorant to slander.
  • #108,047
  • Jun 9, 2009 5:02pm Jun 9, 2009 5:02pm
Quoting psiholog
Hello guys...just wanted to give a recap of why the past 24 hours were so crazy. 150pips up..150+pips down...then 300pips up. You may ask yourself the reason....from a technical standpoint...there was a h&s with shoulderline at 1.4020/50 area or so on the hourly charts...clearly that is not valid anymore. There was a rising wedge in the shape of a bearish flag....which too broke up to the upside making it invalid. There was double tops and triple tops(5min/15min charts) which all broke to the upside.

And now where do we stand....a heavy resistance...
Psi, Your speculation goes with another possible H&S on weekly, probably a head is in the making
The Thief of Wall Street
  • #108,048
  • Jun 9, 2009 5:08pm Jun 9, 2009 5:08pm
so where are we heading really? north or south or both
  • #108,049
  • Jun 9, 2009 5:11pm Jun 9, 2009 5:11pm
Quoting Mashiro
so where are we heading really? north or south or both
North, on daily timeframe, but beware of strong resistance ahead. Trend is a trend unless it reverses.
The Thief of Wall Street
  • #108,050
  • Jun 9, 2009 5:18pm Jun 9, 2009 5:18pm
which means head n shoulder from before is no longer relevants ?
  • #108,051
  • Jun 9, 2009 5:20pm Jun 9, 2009 5:20pm
Did I or did I not say, this was a pause / minor drop in a upward trend still

Time to test 1.5000 well okay next week maybe.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #108,052
  • Jun 9, 2009 5:21pm Jun 9, 2009 5:21pm
Quoting Mashiro
so where are we heading really? north or south or both
when in doubt about direction and your usual technical analysis makes no sense (like me right now for example)....the best thing to do is see what the strong support and resistance levels are at the time..or the range that developed. Right now clearly strong resistance is 1.4100 and strong support is the 1.4000(psychological)/20(proven so on fridays move down and pa afterwards) area. We break one of those price areas and we will get our direction..until then...best to scalp (sell at the high buy at the low kind of thing with stop loss above the high in this case by like 20 or 30 pips if you sell).....OR sit on the sidelines if your a breakout trader....OR...trust your indicators and instincts...if your indicators fail you...well you know what to do
Different opinions highly valued, ignorant to slander.
  • #108,053
  • Jun 9, 2009 5:29pm Jun 9, 2009 5:29pm
Hello All ,

This my view since last sunday , it worked perfect uptill now and hope it goes on till final destination

Regards
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  • #108,054
  • Jun 9, 2009 5:36pm Jun 9, 2009 5:36pm
Quoting psiholog
when in doubt about direction and your usual technical analysis makes no sense (like me right now for example)....the best thing to do is see what the strong support and resistance levels are at the time..or the range that developed. Right now clearly strong resistance is 1.4100 and strong support is the 1.4000(psychological)/20(proven so on fridays move down and pa afterwards) area. We break one of those price areas and we will get our direction..until then...best to scalp (sell at the high buy at the low kind of thing with stop loss above the...
thank you chicky and psiholog . great info
currently price stuck at 1.4076 / 1.4065
  • #108,055
  • Jun 9, 2009 5:41pm Jun 9, 2009 5:41pm
Quoting psiholog
Hello guys...just wanted to give a recap of why the past 24 hours were so crazy. 150pips up..150+pips down...then 300pips up. You may ask yourself the reason....from a technical standpoint...there was a h&s with shoulderline at 1.4020/50 area or so on the hourly charts...clearly that is not valid anymore. There was a rising wedge in the shape of a bearish flag....which too broke up to the upside making it invalid. There was double tops and triple tops(5min/15min charts) which all broke to the upside.

And now where do we stand....a heavy resistance...
I haven't really looked (because its in news outlets) but do you know of a listing of upcoming sales. And maybe a source that can tell us how much is being purchased by the FED. I'm lazy and cooking stakes rite now: Thanks
  • #108,056
  • Jun 9, 2009 5:53pm Jun 9, 2009 5:53pm
Quoting egawab
Hello All ,

This my view since last sunday , it worked perfect uptill now and hope it goes on till final destination

Regards
Im thinking the same thing. With target in 1.3333-1.3395 area...
Also I think we hit the UTL of on the 4hr as well...
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  • #108,057
  • Jun 9, 2009 5:53pm Jun 9, 2009 5:53pm
Quoting knuckledrag
I haven't really looked (because its in news outlets) but do you know of a listing of upcoming sales. And maybe a source that can tell us how much is being purchased by the FED. I'm lazy and cooking stakes rite now: Thanks

i dont know any good websites either because fundies to me are irrelevant being mainly a scalper. however this article does answer your question somewhat...it gives detailed information on all things relating to bonds...worth the read i must say. Just one thing...this is bloomberg...like most "news outlets" as you call them...they are biased...read between the lines if you know what i mean

http://www.bloomberg.com/apps/news?p...d=abldJuU73NDc

"Indirect bidders, the class of investors that includes foreign central banks, bought 43.8 percent of the notes at today’s sale. That compared with 37.3 percent of the notes at the May auction and an average 37.2 percent at the past seven auctions."
Different opinions highly valued, ignorant to slander.
  • #108,058
  • Jun 9, 2009 6:02pm Jun 9, 2009 6:02pm
I also want to see if this down channel gets any validity....
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  • #108,059
  • Jun 9, 2009 6:05pm Jun 9, 2009 6:05pm
Heading into a support area here at 1.4045 expect a possible bounce off this level.
  • #108,060
  • Jun 9, 2009 6:17pm Jun 9, 2009 6:17pm
is anyone else getting larger spreads then usual?...in the past 2-3 hours my spread has been 3-4 pips..sometimes 5 as compared to the normal 2. not only that but lets say a 15min candle closes at X value..the next candle opens with a 2pip gap or higher....anyone else getting this?...im scared
Different opinions highly valued, ignorant to slander.
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