Attachments: EURUSD

EURUSD

#130,661
Aug 12, 2009 10:34pm Aug 12, 2009 10:34pm

Jay Walker
Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts

Quoting Bemac

Disliked

1.4338; here I come.
Attachment

Ignored

Sweet sweet delicious chart how much I love thy chart.

Not all sins are created equal

#130,662
Aug 12, 2009 10:40pm Aug 12, 2009 10:40pm

DavidValera
| Joined Aug 2009 | Status: Trader | 335 Posts

any thoughts about going long on Eur/Usd German Prelim GDP q/q News ?

#130,663
Aug 12, 2009 10:49pm Aug 12, 2009 10:49pm

stevefx
Joined Jun 2009 | Status: Trader | 1,946 Posts

Quoting The Fool

Disliked

I have a short at .4140. Hanging on out of sheer dumb stubbornness. I will take .4060, sure, nice to have the company. Good luck to us.

Ignored

Yeah me too shorted in just about the same place. My MM's good no worries, but see 4310 as possible high, or maybe just down. If 4310 fails then I close my trades, go down to the basement are start playing with the train set.

#130,664
Aug 12, 2009 10:54pm Aug 12, 2009 10:54pm

dancarey
| Joined Jul 2008 | Status: Win >= 1 pip | 148 Posts

Quoting Jay Walker

Disliked

Sweet sweet delicious chart how much I love thy chart.

Ignored

yes...drizzled with scrumptious tasties to put in my account.

#130,665
Aug 12, 2009 10:57pm Aug 12, 2009 10:57pm

Fly2
| Joined Nov 2008 | Status: Everyone Breaks Even. | 2,296 Posts

Quoting stevefx

Disliked

Yeah me too shorted in just about the same place. My MM's good no worries, but see 4310 as possible high, or maybe just down. If 4310 fails then I close my trades, go down to the basement are start playing with the train set.

Ignored

But I'm looking for 1.4160 atm

#130,666
Aug 12, 2009 10:58pm Aug 12, 2009 10:58pm

gatorinla
Joined Oct 2008 | Status: sideline is a position | 105,127 Posts

simply amazed. there are others to see after this one

Inserted Video

those who can, do. those who cant, talk about those who can

#130,667
Aug 12, 2009 11:01pm Aug 12, 2009 11:01pm

ThePipsMkr
| Joined Sep 2008 | Status: Charts don't lie. Fundies do. | 391 Posts

EURUSD rebounds from 1.4086

12 Aug, 2009 @ 10:37 pm ET

After breaking below the support of the up trend line from 1.3832 to 1.4007, EURUSD rebounds from 1.4086 and breaks above 1.4218 key resistance, suggesting that a short term cycle bottom has been formed at 1.4086 level on 4-hour chart. Range trading between 1.4086 and 1.4350 is expected in a couple of days. However, the rise from 1.4086 is more likely consolidation of downtrend from 1.4447, deeper decline to 1.3900 zone is still possible after consolidation.

#130,668
Aug 12, 2009 11:03pm Aug 12, 2009 11:03pm

dancarey
| Joined Jul 2008 | Status: Win >= 1 pip | 148 Posts

Quoting gatorinla

Disliked

simply amazed. there are others to see after this one

http://www.youtube.com/watch?v=vYi458oI0-8

Ignored

oh my god. oh my god.

#130,669
Aug 12, 2009 11:08pm Aug 12, 2009 11:08pm

stevefx
Joined Jun 2009 | Status: Trader | 1,946 Posts

Quoting Fly2

Disliked

But I'm looking for 1.4160 atm

Ignored

You might get it...I see more underneath than overhead right now, so I'm in it with good MM for the long haul. What I said about 4310, its really between 4310 and 4350 for a possible high. Higher than 4350 or 4400 and your into something else. All I see is the big motion down-it will come, but you know what they say about picking tops...

#130,670
Aug 12, 2009 11:10pm Aug 12, 2009 11:10pm

Larseg
Joined May 2009 | Status: Re-member | 6,497 Posts

Quoting gatorinla

Disliked

simply amazed. there are others to see after this one

Ignored

Sold it for 20 million us?? I am in the wrong business

#130,671
Aug 12, 2009 11:12pm Aug 12, 2009 11:12pm

Duce
| Joined Jan 2009 | Status: Snr. Director | 1,158 Posts

simply amazed. there are others to see after this one

Big deal.

Si vis pacem, para bellum.

#130,672
Aug 12, 2009 11:12pm Aug 12, 2009 11:12pm

Mr. Freeweed
| Joined Apr 2009 | Status: Me, Myself, and I | 494 Posts

Quoting gatorinla

Disliked

simply amazed. there are others to see after this one

http://www.youtube.com/watch?v=vYi458oI0-8

Ignored

Now that is amazing

#130,673
Aug 12, 2009 11:18pm Aug 12, 2009 11:18pm

navhin
| Joined Aug 2009 | Status: THE FX TRADER | 555 Posts

more likely to up until 1.4300

#130,674
Aug 12, 2009 11:22pm Aug 12, 2009 11:22pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

Quoting SpecialEd

Disliked

I think last Friday's drop was all about better than expected NFP and unemployment numbers - far better. This week's continuing dollar strength was continuation and buying the rumor of increased Fed interest rates later this year. Not sure what caused today, except maybe correction - but I like it. Headed back to 4400 next week?

Ignored

SpecialEd, I got your PM about the use of bollinger bands. I am posting reply here because it includes a chart, which the PM vehicle does not carry.

Looking at the attached chart, you can see that PA frequently reverses at the bands, and this is one way to trade it. You can see where I applied the FE tool to a recent pinch area. This tool marks breakout levels off the pinch. The most frequently hit levels are 100%, 162% and 262%. A really strong run eventually makes it to the 424% and beyond (other levels are there, off the screen, all the way up to 1000%). You can see that PA made it to the 424% level. Using FE off of pinch areas helps set targets for trade exit.

On the second chart showing the next bollinger band pinch and applied FE, you can see PA made it to the 162% level but not to the 262% level. I included this example to point out that when PA fails to make the next level 'in reasonable time" (and this did not, and now is ranging) it often leads to a pullback, or even reversal. And this is another way to trade the bands....that is to say, you have some reason to start watching for a trade in the other direction now.

I hope you get this answer to your question. Please PM me and let me know.

Attached Image(s) (click to enlarge)