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  • #126,461
  • Jul 29, 2009 8:49am Jul 29, 2009 8:49am
i took long @ 4077
SL = BE
TP = 20

lets see
Never sell @ lower upward channel unless breacked and vise versa .
  • #126,462
  • Edited 9:50am Jul 29, 2009 8:50am | Edited 9:50am
Quoting gatorinla
back to 98 then lower below 72
i'm short @ 4195 with tp at 50
  • #126,463
  • Jul 29, 2009 8:50am Jul 29, 2009 8:50am
GMT 1347. EUR/USD recovering slightly from a -30 drop, currently 1.4092.

Appears to be a false breakout based on NY7-9am Big Dog Strategy.

I am currently sitting on the sideline bench, no positions open. Contemplating opening sell stop at 1.4072.
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #126,464
  • Jul 29, 2009 8:53am Jul 29, 2009 8:53am
Quoting cunha
I don't know...

I'm just saying that looking for correlation between pairs is a paradox!

In this case there was possibly some news related to GBP or some big player knows something we don't...

If I knew this things, I would probably be rich!!
cause German Prelim CPI m/m
  • #126,465
  • Jul 29, 2009 8:56am Jul 29, 2009 8:56am
Yep, German Prelim CPI m/m out at -0.1% vs 0.2%
Getting it right is NOT as important as not getting it wrong.
  • #126,466
  • Jul 29, 2009 9:00am Jul 29, 2009 9:00am
Time for the bulls to enter again, at the kiss back point ?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 4H 7-29-2009 3-57-50 PM.png Size: 71 KB
Getting it right is NOT as important as not getting it wrong.
  • #126,467
  • Jul 29, 2009 9:03am Jul 29, 2009 9:03am
Quoting fxswing
Time for the bulls to enter again, at the kiss back point ?
same view
Attached Image (click to enlarge)
Click to Enlarge Name: trendlines.png Size: 15 KB
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #126,468
  • Jul 29, 2009 9:04am Jul 29, 2009 9:04am
Notice that the latest intraday low, wasn't confirmed by the usd/chf nor the USD index, so far...

Imho, we either have a valid low, or a capitulation push is coming.
Getting it right is NOT as important as not getting it wrong.
  • #126,469
  • Jul 29, 2009 9:07am Jul 29, 2009 9:07am
no more pushesh for today. THinking of smooth up going till previos levels of 42
never go for max profit, but for minimum lose !
  • #126,470
  • Jul 29, 2009 9:09am Jul 29, 2009 9:09am
Quoting IcoHristov
man check the books , line 1 must not be higher than end of line 4 ... damn u're right about trend turning but in levels 1.43 i am sure !
No, line 2 must not be higher than end of line 4
  • #126,471
  • Jul 29, 2009 9:11am Jul 29, 2009 9:11am
Quoting strategist
No, line 2 must not be higher than end of line 4
omg ... how could line 2 be higher when its some kind of a correction wave to wave 1 ... line 3 must be higher then line 1 and the end point of line 4 must be higher then end point of line 1 , u see ? thats what i wanted to say ... try to imagine
never go for max profit, but for minimum lose !
  • #126,472
  • Jul 29, 2009 9:19am Jul 29, 2009 9:19am
News in about 11 mins:


14:30United StatesEIA Crude Oil Stocks change http://www.fxstreet.com/css/images/ex2.gif


Maybe a quick scalping opportunity...
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #126,473
  • Jul 29, 2009 9:21am Jul 29, 2009 9:21am
Quoting strategist
H4 graphMy advise is to sell the pair after it drops below level 1.4110, with target set to 1.3930/60 and stop loss set to 1.4190
Looks ok, you have a plan, now time to put your money where your mouth is AND have the balls to take the trade for real... And take responsibility for it
Getting it right is NOT as important as not getting it wrong.
  • #126,474
  • Jul 29, 2009 9:23am Jul 29, 2009 9:23am
Generally I don't do this but I have adjusted my stop loss to 4062 from 4075.

4062 was the next closest support line to where price recently made lows.

Doesn't affect my r:r ratio too much. If I get stopped out at 4062 then I definitely know that I'm in the wrong and that price will probably fall further. (or maybe not but either way I'm done for the day if I get stopped out)
  • #126,475
  • Jul 29, 2009 9:28am Jul 29, 2009 9:28am
Another Trade

iam Pending now Buy @ 4075

TP 20
SL 10
Never sell @ lower upward channel unless breacked and vise versa .
  • #126,476
  • Jul 29, 2009 9:30am Jul 29, 2009 9:30am
Quoting strategist
H4 graph
After the pair rebounded from key resistance 1.4260 (“E” trend line and the higher bound of “M-M+” daily trend), it broke the lower bound of “a-a+” uptrend (went below level 1.4200). This is an evidence of the beginning of downtrend development.

A “diamond” figure is being formed now, which is supposed to be a turning figure and lead the pair to level 1.3990 under condition that it drops below 1.4110. Rebounding off resistance 1.4260 and breaking the “a-a+” trend both are speaking...
Nice analysis.

I'll share mine with you. Next level to watch is 1.4030 and 200SMA.If you mind to get for more info, please feel free to go here:-

http://www.forexfactory.com/showpost...&postcount=287

Go...bear....rooarrrr...!!!!!!!!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 51 KB
  • #126,477
  • Jul 29, 2009 9:30am Jul 29, 2009 9:30am
Quoting altrader
Generally I don't do this but I have adjusted my stop loss to 4062 from 4075.

4062 was the next closest support line to where price recently made lows.

Doesn't affect my r:r ratio too much. If I get stopped out at 4062 then I definitely know that I'm in the wrong and that price will probably fall further. (or maybe not but either way I'm done for the day if I get stopped out)
i am sure EU will be test 1.4050,then depends DOWs .take care
  • #126,478
  • Jul 29, 2009 9:33am Jul 29, 2009 9:33am
Quoting altrader
Doesn't affect my r:r ratio too much. If I get stopped out at 4062 then I definitely know that I'm in the wrong and that price will probably fall further. (or maybe not but either way I'm done for the day if I get stopped out)
Waiting for the same spot. I take profit at 4063 and we shall see what happens next.
"I know one thing, that I know nothing." Sokrates
  • #126,479
  • Jul 29, 2009 9:35am Jul 29, 2009 9:35am
oil had dropped 3$ but has come up some 2.60 ish now
those who can, do. those who cant, talk about those who can
  • #126,480
  • Jul 29, 2009 9:36am Jul 29, 2009 9:36am
DXY
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