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  • #121,881
  • Jul 15, 2009 2:13pm Jul 15, 2009 2:13pm
Thanks Atlast......I have been holding out on a SHORT....I was looking at the 4159 area myself....just not sure if it will get there or not....

I am watching the CHF to see if it will break R at 1.0742...that's when I will take EU SHort....
  • #121,882
  • Edited Jul 16, 2009 10:28am Jul 15, 2009 2:15pm | Edited Jul 16, 2009 10:28am
Quoting Xaron
Why not? My stop is at 1.4220. I'm still an Euro bull but this upmove was too fast too far...
One quick question, if your SL is 104 pips away, where is your take profit? around 140 maybe?

I ask because Im also short at 1.4110, but my SL is at 1.4046. I just dont feel comfortable setting my SL that far awar. I know it's a very safe place since it's above the previous high, but still, too far away for my comfortness.
On a journey to consistency.
  • #121,883
  • Jul 15, 2009 2:18pm Jul 15, 2009 2:18pm
If I had to guess his stop loss, I'd guess in the 1.37xx area.
Si vis pacem, para bellum.
  • #121,884
  • Jul 15, 2009 2:25pm Jul 15, 2009 2:25pm
Quoting Tataocb
One quick question, if your SL is 104 pips away, where is your take profit? around 140 maybe?

I ask because Im also short at 141.10, but my SL is at 140.46. I just dont feel comfortable setting my SL that far awar. I know it's a very safe place since it's above the previous high, but still, too far away for my comfortness.
I don't mean to point out anyones mistakes, but I think you meant to write that your "TP (take profit) is at 140.46" or you meant to type 141.46 as your SL. Good luck nonetheless
Si vis pacem, para bellum.
  • #121,885
  • Jul 15, 2009 2:29pm Jul 15, 2009 2:29pm
Quoting Duce
If I recall correctly...the Road Runner had the ability to defy gravity.
You may be right.

I guess we will have to call Bugs and let him do his thing.

Was that abracapocus or pocuscadabra.

Joking aside any new money invested in the markets at the start of the second quarter should have delivered a handsom return. 30-40% easilly.

Goldman nocked the cover off the ball. Surprise? No. But this income was obtained on the uforia that a global recovery is in hand.

I don't buy it. It took eight years to create the global cisis and eight months to fix it. Sorry, don't think so.

Giving money to everyone and their sister does not fix the problem it only shifts it over.

Another way of looking at this move is maybe Europian investors have been selling into the DOW strength and taking the US$ and converting back to their EU.

Wait a couple of days and someone will have the perfect explanation of what happened and why. The usual.
  • #121,886
  • Jul 15, 2009 2:29pm Jul 15, 2009 2:29pm
EUR-USD moved up nicely today. So did US stock market. If Elliott Waves could predict the future price levels of financial instruments then we can see a rise in the stock indices in the coming months. So is the recession over? There are many studies that point in that direction. But the KEY ingredient will be the the employment figures coming from US, and these may be lagging as employers will be cautious and only hiring the most essential workers.

EUR-USD hits a new high - a key level of resistance. See Chart.
Attached Image
  • #121,887
  • Edited Jul 16, 2009 10:28am Jul 15, 2009 2:37pm | Edited Jul 16, 2009 10:28am
Quoting Duce
I don't mean to point out anyones mistakes, but I think you meant to write that your "TP (take profit) is at 140.46" or you meant to type 141.46 as your SL. Good luck nonetheless
Oops, you're right. I meant my SL is at 1.4146 and my TP is at 1.4050. At least for now.
On a journey to consistency.
  • #121,888
  • Jul 15, 2009 2:40pm Jul 15, 2009 2:40pm
Quoting candlesticks
But the KEY ingredient will be the the employment figures coming from US, and these may be lagging as employers will be cautious and only hiring the most essential workers.
If I was a betting man I'd say muddy employment & housing news on Thursday-Friday will take the air out of this balloon.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #121,889
  • Jul 15, 2009 2:42pm Jul 15, 2009 2:42pm
Quoting Tataocb
One quick question, if your SL is 104 pips away, where is your take profit? around 140 maybe?

I ask because Im also short at 141.10, but my SL is at 140.46. I just dont feel comfortable setting my SL that far awar. I know it's a very safe place since it's above the previous high, but still, too far away for my comfortness.
Don't know yet, maybe 1.4050.

edit: Yes I know that the risk/reward doesn't look sexy, but that's just my way of trading.
  • #121,890
  • Jul 15, 2009 2:58pm Jul 15, 2009 2:58pm
Quoting Xaron
Don't know yet, maybe 1.4050.

edit: Yes I know that the risk/reward doesn't look sexy, but that's just my way of trading.
I know what you mean. When I first started trading live (G/J) I used to have twice the risk than the reward and those trades were usually succesfull, now that I'm more conservative (after losing all of which i had won and then some) and set my SL closer, sometimes i get stopped out only to then see price move in my direction. Which really sucks, but oh well, that's Forex
On a journey to consistency.
  • #121,891
  • Jul 15, 2009 3:09pm Jul 15, 2009 3:09pm
ok we have a break in the upward daily trend
  • #121,892
  • Jul 15, 2009 3:13pm Jul 15, 2009 3:13pm
If we pass 1.4090 then I believe we are going down.
Close your eyes when you feel you are going under.
  • #121,893
  • Jul 15, 2009 3:14pm Jul 15, 2009 3:14pm
Quoting Duce
I don't mean to point out anyones mistakes, but I think you meant to write that your "TP (take profit) is at 140.46" or you meant to type 141.46 as your SL. Good luck nonetheless
4148 is a historical number.. but we still got the 50% mark between last years high and low 4174 area... and also the high a few months back..so i cant answer you question.. im gonna take a short there if we get there (with caution).. but just because r/r seems to be good.. we still got a few days of earnings so who knows? fed had anounced that unemployment to go to 10.5% .. maybe all news has not settled yet..
those who can, do. those who cant, talk about those who can
  • #121,894
  • Jul 15, 2009 3:21pm Jul 15, 2009 3:21pm
Quoting dancarey
ok we have a break in the upward daily trend
no we dont
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #121,895
  • Jul 15, 2009 3:22pm Jul 15, 2009 3:22pm
More info?
Quoting djambazov84
no we dont
Close your eyes when you feel you are going under.
  • #121,896
  • Jul 15, 2009 3:24pm Jul 15, 2009 3:24pm
Quoting VinzZ
More info?
sure, we may have bounced off that falling trendline
regardless it is a sound trade in my eyes as the risk:reward is favorable
Attached Image (click to enlarge)
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #121,897
  • Jul 15, 2009 3:24pm Jul 15, 2009 3:24pm
Quoting djambazov84
no we dont
He means the channel made today, best to be seen on M5.......
Don't be a hero. Don't have an ego. Always question yourself
  • #121,898
  • Jul 15, 2009 3:26pm Jul 15, 2009 3:26pm
Quoting USD-Bear
He means the channel made today, best to be seen on M5.......
my sincere apologies i thought he meant the retarded triangle we are still in
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #121,899
  • Jul 15, 2009 3:27pm Jul 15, 2009 3:27pm
Quoting djambazov84
no we dont
suit yourself.
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  • #121,900
  • Jul 15, 2009 3:28pm Jul 15, 2009 3:28pm
it may bounce up at 4098...
those who can, do. those who cant, talk about those who can
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