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  • #119,361
  • Edited 3:28am Jul 8, 2009 3:15am | Edited 3:28am
Quoting fxswing
1 - Each trade is a bet, right or wrong...
2 - There's no point to have a poor RR.
3 - Watch a daily and weekly charts.
4 - Uncertainty is the essence of the markets. People that have strong beliefs with market direction, and know it for sure, are just bound to be humbled again and again by Mr market
5 - Don't let other's positions shake your trade. If you have a plan just trade it. If not then you shouldn't be in a trade... imho
Thanks for the numerical lecture. I was just wondering why..., no offense though...
  • #119,362
  • Jul 8, 2009 3:19am Jul 8, 2009 3:19am
Quoting essenza
I see 1.45 next week/or this month
I see 1.05 within 3-4 months.
  • #119,363
  • Jul 8, 2009 3:24am Jul 8, 2009 3:24am
a friend sometimes sends these levels to me....don't know how he gets them - if they make sense to you, use them, if not, feel free to ignore

EURUSD 1st Res 1.3910
Upper Potential 1.3981
1st Support 1.3852
Lower Potential 1.3836

ta
MT
  • #119,364
  • Jul 8, 2009 3:26am Jul 8, 2009 3:26am
Quoting Clouds
I see 1.05 within 3-4 months.
I do not care if it's 1.45 or 1.05 as long as there are plenty good trades between them....

BTW guys, thanks for saving my bud last night for not going long at 3920 !
Don't be a hero. Don't have an ego. Always question yourself
  • #119,365
  • Jul 8, 2009 3:30am Jul 8, 2009 3:30am
Quoting Clouds
I see 1.05 within 3-4 months.
1.05? Dream on. The good thing about the Euro is, that it's:

- the Anti-Dollar
- the ECB just can't print money like the FED does.

I see 1.43-45 this month and ~1.35 till the end of the year.
  • #119,366
  • Jul 8, 2009 3:31am Jul 8, 2009 3:31am
Quoting essenza
At last China is entering but in GU
Cable rallies strongly as China steps into the market...
booked 12 pips..thanks Jesus & china ...that's it for a while, wait until NY open.
  • #119,367
  • Jul 8, 2009 3:36am Jul 8, 2009 3:36am
Quoting essenza
thanks Jesus & china
  • #119,368
  • Jul 8, 2009 3:37am Jul 8, 2009 3:37am
i feel like it's a friday, not a good trend day
  • #119,369
  • Jul 8, 2009 3:37am Jul 8, 2009 3:37am
Quoting FXSurfer
...
  • #119,370
  • Jul 8, 2009 3:39am Jul 8, 2009 3:39am
Quoting forexlane
Agreed. I see bearish on daily, 1H, 4H, and now 15M , still targeting EU 1.3615, not today of course, but should reach by early next week, just my view, pls comment

I don't know where price is headed. I'm joining this daily chart to explain why I must search only for longs in eurusd. No shorts allowed for me, only positions in the direction of the higher trends (day and week).

The trend is Up in the daily as indicated by being above the 200 sma.
The latest intra swing high made on July 1, at 1.4200 is what is targeted, as long as we don't take the 1.3750 low, that would signal the resumption of pullback / downside.
It's just the logic I use, and why I bet on longs and have at least a 1.4200 target. Now that won't mean shorts couldn't make money. And perhaps I'm just plain wrong. Who knows


http://img269.imageshack.us/img269/1817/eurusddaily.gif
Getting it right is NOT as important as not getting it wrong.
  • #119,371
  • Jul 8, 2009 3:39am Jul 8, 2009 3:39am
Quoting Xaron
1.05? Dream on. The good thing about the Euro is, that it's:

- the Anti-Dollar
- the ECB just can't print money like the FED does.

I see 1.43-45 this month and ~1.35 till the end of the year.

what broker do u use?..i thought all forex broker are swap free?
  • #119,372
  • Jul 8, 2009 3:40am Jul 8, 2009 3:40am
Quoting Xaron
1.05? Dream on. The good thing about the Euro is, that it's:

- the Anti-Dollar
- the ECB just can't print money like the FED does.

I see 1.43-45 this month and ~1.35 till the end of the year.
yea, but bloomberg has fair value (purchasing power) at 1.10, and from the bloomberg chart, fair value hasn't changed for the past few years. where as, the yen value is increasing. it's not something to lose sleep at night, but something to think about.
  • #119,373
  • Jul 8, 2009 3:42am Jul 8, 2009 3:42am
Quoting USD-Bear
I do not care if it's 1.45 or 1.05 as long as there are plenty good trades between them....

BTW guys, thanks for saving my bud last night for not going long at 3920 !
thats keep the forex trading going, always buyers n sellers around
  • #119,374
  • Jul 8, 2009 3:42am Jul 8, 2009 3:42am
Quoting essenza
what broker do u use?..i thought all forex broker are swap free?
??? Swap free? There are some rare islamic accounts which are swap free but in general all forex brokers are not swap free...

edit: I use different brokers:

Oanda, Saxo, Varengold
  • #119,375
  • Jul 8, 2009 3:42am Jul 8, 2009 3:42am
Quoting fxswing
I don't know where price is headed. I'm joining this daily chart to explain why I must search only for longs in eurusd. No shorts allowed for me, only positions in the direction of the higher trends (day and week).

The trend is Up in the daily as indicated by being above the 200 sma.
The latest intra swing high made on July 1, at 1.4200 is what is targeted, as long as we don't take the 1.3750 low, that would signal the resumption of pullback / downside.
It's just the logic I use, and why I bet on longs and have at least a 1.4200 target. Now that...
could the spike be because of roug trader of oil. that caused the 3$ spike.. every action has a reaction..
those who can, do. those who cant, talk about those who can
  • #119,376
  • Jul 8, 2009 3:43am Jul 8, 2009 3:43am
Quoting Clouds
yea, but bloomberg has fair value (purchasing power) at 1.10, and from the bloomberg chart, fair value hasn't changed for the past few years. where as, the yen value is increasing. it's not something to lose sleep at night, but something to think about.
Thanks for that!

Actually I think that the Euro isn't worth that much currently, but it's just the counter part to the Dollar which isn't worth anything.
  • #119,377
  • Jul 8, 2009 3:48am Jul 8, 2009 3:48am
Quoting Xaron
??? Swap free? There are some rare islamic accounts which are swap free but in general all forex brokers are not swap free...

hehe, then it's my broker only perhaps.
  • #119,378
  • Jul 8, 2009 3:51am Jul 8, 2009 3:51am
Quoting gatorinla
could the spike be because of roug trader of oil. that caused the 3$ spike.. every action has a reaction..
Imho the spike was due because of a retest of 50% fib retrace of the larger swing 1.6038 - 1.2330 (probably related to options positions). That 50% fib line is at 1.4184 and we should keep an eye on it...

I think we could see that line tested again in the short term (days or weeks), as long as we don't take out that 1.3750 point.
Getting it right is NOT as important as not getting it wrong.
  • #119,379
  • Jul 8, 2009 3:51am Jul 8, 2009 3:51am
Quoting essenza
hehe, then it's my broker only perhaps.
Do you ever hold positions over night? If not you usually don't have to pay swaps.
  • #119,380
  • Jul 8, 2009 3:52am Jul 8, 2009 3:52am
Morning all.

I closed half my short from 4045 very early this morning at 3903 for a profit of 142 pips. I'm leaving the other half in and will be adding to it with any retrace. By my chart it is reasonable to assume that we'll retrace to 3950-3960.
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