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  • #129,741
  • Aug 10, 2009 8:42am Aug 10, 2009 8:42am
Quoting Dazzer
I'm still very bearish.

The daily candle was huge after an engulfing pattern the day before and the price previously was the highest its been since December last year.

Ok, looking at the charts, we have been bullish since the beginning of March, but I believe we are in a corrective phase at the moment and in order to push to 1.47, we need a temporary, bearish clear trend change.

The numbers on friday have more significance than some are willing to consider.

Dazzer
In my opinion only below 1.40 should worry the bulls.
Dollar rallies should be sold, with above 1.47 as potential target
Some drink at the fountain of knowledge. Others just gargle !
  • #129,742
  • Aug 10, 2009 8:46am Aug 10, 2009 8:46am
Quoting orangeRANGE
I think Yen is now weakening abroad...
I talked to a broad that said the same thing.
The Yen was making her weak.

I said, "...whadaya have a yen for ?"
and she said I ....uh.....I got.... I can't repeat what she said.
  • #129,743
  • Aug 10, 2009 9:01am Aug 10, 2009 9:01am
closed my short manually at 1.4165..45 pips net..enough for today..now i m looking the bottom to load some longs for 20-30 pips..

Good Luck to all...
  • #129,744
  • Aug 10, 2009 9:01am Aug 10, 2009 9:01am
less euros, mo' money
Attached Image
  • #129,745
  • Aug 10, 2009 9:03am Aug 10, 2009 9:03am
I fink.. EU (can) brake down.. strong support trend line on H4 chart..... plus we have double bottom...
  • #129,746
  • Aug 10, 2009 9:06am Aug 10, 2009 9:06am
Quoting gatorinla
stump at 78.97 holding it up.. usdx.. i think we can i think we can
broke it next 79.14...this should pull eu below 4148... .. it needs some push. it may have it..
Attached Image (click to enlarge)
Click to Enlarge Name: 54.gif Size: 40 KB
those who can, do. those who cant, talk about those who can
  • #129,747
  • Aug 10, 2009 9:09am Aug 10, 2009 9:09am
Quoting toshi
.... I think the market still wants to see some blood.

141 is just a mere fleshwound....
Get the first aid kit....but take your time. No one is seriously injured yet.
Resistance turned support is playing out. Kind of a Neo vs. the Matrix thingy.

Also, now we got this funky-lookin' H&S pattern forming on a 1 hour.
No break confirmed yet. Still waiting...... Need ALOT more sellers than this.

ALOT more.
  • #129,748
  • Aug 10, 2009 9:11am Aug 10, 2009 9:11am
Took profit as planned on that second re-test at 1.4157. I'm out on the sidelines at the moment on this pair but watching how PA reacts to the 200sma on H4.

If we close below it, we could be in for a tasty bear move towards 1.40.

Good luck to all you bulls who got sucked back in. I would not want to get long at the moment.

Dazzer
  • #129,749
  • Aug 10, 2009 9:23am Aug 10, 2009 9:23am
The question is... for how long.

She's holding but struggling.

m
  • #129,750
  • Aug 10, 2009 9:25am Aug 10, 2009 9:25am
Quoting Dazzer
Took profit as planned on that second re-test at 1.4157. I'm out on the sidelines at the moment on this pair but watching how PA reacts to the 200sma on H4.

If we close below it, we could be in for a tasty bear move towards 1.40.

Good luck to all you bulls who got sucked back in. I would not want to get long at the moment.

Dazzer
Will you BUY from here?
  • #129,751
  • Aug 10, 2009 9:27am Aug 10, 2009 9:27am
toshi all your pic funny lol
  • #129,752
  • Aug 10, 2009 9:30am Aug 10, 2009 9:30am
Quoting orangeRANGE
Will you BUY from here?

I'll wait until tomorrow before deciding on any longs. I wouldn't place any now, but it all depends on the timeframe used.

Dazzer
  • #129,753
  • Aug 10, 2009 9:32am Aug 10, 2009 9:32am
Quoting trading801
toshi all your pic funny lol
Thanks man, glad you get chuckle.

But, point is that the market has brought the price back to perceived support,
that good old 50% fib of the entire move down (160 to 123)

It will take real money selling to break it hard.
Anything less is....well...not good enough yet.

Somebody sell a few yards here...anyone ?
  • #129,754
  • Aug 10, 2009 9:37am Aug 10, 2009 9:37am
Should see some resistance at .4200 but .4250 you'll see a wall.

Depending on PA I'll be scalping .4200... if we get there.

.4250 is ideal but I doubt the bulls have that in them.

m
  • #129,755
  • Aug 10, 2009 9:41am Aug 10, 2009 9:41am
Quoting Dazzer
I'll wait until tomorrow before deciding on any longs. I wouldn't place any now, but it all depends on the timeframe used.

Dazzer
For about 3 months (up to now)...price has been consistently closed above 8EMA....but it also still always resisted @ 89SMA.

Mate, we are still in the WAR ZONE...what do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 43 KB
  • #129,756
  • Aug 10, 2009 9:43am Aug 10, 2009 9:43am
Quoting orangeRANGE
For about 3 months (up to now)...price has been consistently closed above 8EMA....but it also still always resisted @ 89SMA.

Mate, we are still in the WAR ZONE...what do you think?
Man, what's that nice indicator you have there down the chart called RSIBar?
I see the Stochs and RSI are in one window with trend color. Could you upload this indicator please?
cut losses short, let profits run.
  • #129,757
  • Aug 10, 2009 9:48am Aug 10, 2009 9:48am
Quoting Domas4
Man, what's that nice indicator you have there down the chart called RSIBar?
I see the Stochs and RSI are in one window with trend color. Could you upload this indicator please?
One or two more lines on that chart and you should be able to land a plane.

Occam.

m
  • #129,758
  • Aug 10, 2009 9:48am Aug 10, 2009 9:48am
Quoting Domas4
Man, what's that nice indicator you have there down the chart called RSIBar?
I see the Stochs and RSI are in one window with trend color. Could you upload this indicator please?
here it is

RSI > 55 = green bar
RSI < 45 = red bar
45 < RSI < 55 = grey bar
Attached File(s)
File Type: mq4 RSIBar.mq4   2 KB | 287 downloads
  • #129,759
  • Aug 10, 2009 9:51am Aug 10, 2009 9:51am
Thanks guys,
OrangeRed, I see you are in favour of fibonacci numbers using for your MA's like 34,55,89. So if you use 55 in this indicator what's the 45 number all about?
cut losses short, let profits run.
  • #129,760
  • Aug 10, 2009 10:00am Aug 10, 2009 10:00am
Quoting Domas4
Thanks guys,
OrangeRed, I see you are in favour of fibonacci numbers using for your MA's like 34,55,89. So if you use 55 in this indicator what's the 45 number all about?
For MAs, yes they are in favour of fibs. (8, 21, 89). 50SMA is an exceptional. This MA is very famous and reliable...at least to me

RSI has nothing to do with fibs. I just learn it from someone else. If the RSI is above 55, the market is bullish...and the market is bearish when it go below 45....

That's it....
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