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EURUSD

  • #137,101
  • Aug 31, 2009 8:55pm Aug 31, 2009 8:55pm
Quoting terrel1919
amazing,so you still only buy above the PP ,and sell below the PP.looks like your strategy is more flexible now!
I still use pivots but I'll sell a top as quickly as I'll buy a bottom.

m
  • #137,102
  • Aug 31, 2009 9:05pm Aug 31, 2009 9:05pm
10 yrs notes yield has dropped.
  • #137,103
  • Aug 31, 2009 9:15pm Aug 31, 2009 9:15pm
Quoting acumen
I still use pivots but I'll sell a top as quickly as I'll buy a bottom.

m
Me too, the problem, usually, is knowing where are they!
Traders are smartasses
  • #137,104
  • Aug 31, 2009 9:22pm Aug 31, 2009 9:22pm
EUR-USD had another small range day (111 pips) yesterday. But the prices have firmed up as we have a bullish candle on the daily chart. Last week's high (1.4405) still remains as a major resistance that needs to be broken for prices to climb higher. We are in Wave 3 on the Weekly/Monthly charts.

For TUESDAY key economic reports from Europe and US that should move the market are:
UK "Manufacturing PMI"
US "ISM Manufacturing PMI", "Pending Home Sales m/m".

See DAILY chart.
Attached Image
  • #137,105
  • Aug 31, 2009 9:24pm Aug 31, 2009 9:24pm
Quoting gatorinla
rumors. i love em and hate em..lets me see if i was gonna lay down a bunch of cash to move markets. i surely would not tell anyone..i guess these guys who made a fortune are just dumb asses. to tell the world what there gonna do before they do it. now days if your that big all you need to do is push a button. you dont tell the world your gonna push it before hand. the rumor would be best spent after in position at the better price....
Gator, priceless post... as usual

The culmination is that we had oil at 150pb and 1.6eu.. my worries(honestly) are that if the ratio was to be mantained (wich i don't believe) we'd have oil @ 150 and eu @ 2.1... :o
Traders are smartasses
  • #137,106
  • Aug 31, 2009 9:29pm Aug 31, 2009 9:29pm
The dollar needs a comeback on short covering. Looking at 1.30 as long term bottom, 1.35 decent intermediate level, IMO.

You can't have inflation without wage growth and there is no reason for commodities to continue this BS run with no consumers to buy "stuff".
  • #137,107
  • Aug 31, 2009 9:32pm Aug 31, 2009 9:32pm
Quoting TIckerShuffl
The dollar needs a comeback on short covering. Looking at 1.30 as long term bottom, 1.35 decent intermediate level, IMO.

You can't have inflation without wage growth and there is no reason for commodities to continue this BS run with no consumers to buy "stuff".

Long time Ticker,
Hope the markets have treated you fairly. If 1.37 gives on this pair all bets are off.
"Timing Is Everything. Really I Swear It Is"
  • #137,108
  • Aug 31, 2009 9:38pm Aug 31, 2009 9:38pm
Quoting candlesticks
EUR-USD had another small range day (111 pips) yesterday. But the prices have firmed up as we have a bullish candle on the daily chart. Last week's high (1.4405) still remains as a major resistance that needs to be broken for prices to climb higher. We are in Wave 3 on the Weekly/Monthly charts.

For TUESDAY key economic reports from Europe and US that should move the market are:
UK "Manufacturing PMI"
US "ISM Manufacturing PMI", "Pending Home Sales m/m".

See DAILY chart.

I don't know about wave three-----I was thinking more C. just a guess
  • #137,109
  • Aug 31, 2009 9:43pm Aug 31, 2009 9:43pm
Quoting The Fool
Its spose to be a sin even to hear em - that's why I'm glad I'm a scalper. 4-8 pips at a time and I'm just along for the ride.
You seem to be a very successful scalper. do you use any indicators or just PA S&R. I'd like to learn how you do it.
  • #137,110
  • Aug 31, 2009 9:45pm Aug 31, 2009 9:45pm
Quoting TIckerShuffl
The dollar needs a comeback on short covering. Looking at 1.30 as long term bottom, 1.35 decent intermediate level, IMO.

You can't have inflation without wage growth and there is no reason for commodities to continue this BS run with no consumers to buy "stuff".
Actually in the EU, and even with growing unemployment, since there was no house bubble, "only" the (smaller (not 401k)) credit bubble, the "problem" was solved "earlier" than in the US.

Consumers started buying "stuff" earlier in EU than in the US, and, contrary of what has happened in previous crysis, EU has (statisticly) come out of recession earlier.

Meaning, in theorytical terms, that the currency relations may be re-balanced, favorouring the €, Yen, and Yuan, except that both China keep manipulating their currency and Japan has a "border" for Yen fluctuation, intervening whenever Yen reaches key levels.

I'm not looking below 1.38 in the medium term (although I believe that would be good to EU productive industry, despite the lack of purchasing power overseas).

Looking at the daily and taking in the (short) history of this pair, we can be "stuck" within 1.38-1.47 for quite some time. USD-EU at 1.30 seems very improbable within this year.
Traders are smartasses
  • #137,111
  • Aug 31, 2009 10:01pm Aug 31, 2009 10:01pm
Quoting Spsantos
Actually in the EU, and even with growing unemployment, since there was no house bubble, "only" the (smaller (not 401k)) credit bubble, the "problem" was solved "earlier" than in the US.

Consumers started buying "stuff" earlier in EU than in the US, and, contrary of what has happened in previous crysis, EU has (statisticly) come out of recession earlier.

Meaning, in theorytical terms, that the currency relations may be re-balanced, favorouring the €, Yen, and Yuan, except that both China keep manipulating their currency and Japan has...

nice.. btw yr signature is cool.. my is i have debts lol
  • #137,112
  • Aug 31, 2009 10:04pm Aug 31, 2009 10:04pm
oanda seems good

JPY Pairs Price Spike on FXTrade Sunday 3pm EDT


There was a large spike on JPY currency pairs that affected some of our clients' positions and caused numerous orders to trigger. This spike was the result of bad prices that OANDA received from its liquidity providers. OANDA is, therefore, reversing the trades that were executed with these prices.
We ask you to be patient while we are working on this issue. We sincerely apologize
for the inconvenience this may be causing. Thank you.

Correcting the affected accounts is taking longer than originally announced. Please be patient as the technical and customer service teams continue to work on this issue. This is their top priority.

  • #137,113
  • Aug 31, 2009 10:05pm Aug 31, 2009 10:05pm
Quoting acumen
I still use pivots but I'll sell a top as quickly as I'll buy a bottom.

m
how do you define a top or bottom, use pivot and psych levels??
  • #137,114
  • Aug 31, 2009 10:07pm Aug 31, 2009 10:07pm
Quoting 4xfox
You seem to be a very successful scalper. do you use any indicators or just PA S&R. I'd like to learn how you do it.
When I stick to what works for me I do ok. When I first started out I used the BB in what Kathy Lien calls the 5-min Mo Mo method. Google her and you will find the article on Investipedia. Then I started hanging out on forums and picked up some knowledge here and there. I use S/R from observation & also calc'd daily, weekly pivots. I have spent alot of time trading on the low tf charts - 30s, 1m, 3m, 5m. I have learned alot from the VSA materials that are here and also on Trader's Laboratory. I trade futures and keep the CME futures charts rolling while I trade spot fx. Honestly though I think the most important thing I do that keeps my account growing is I always take profits off the table. Typically I am just looking for short gains - 4, 6, maybe 10-12 pips depending on pa conditions. This fits with my ADD type personality, allows me to get in and out of the game quickly & thereby limit my risk. And through painful experience I have been learning to kill losers quick. Its just a variation on the theme of "Let your your profits run, cut your losses short" - just sped up and hyper iterative.

Hope this helps & that you find something that works for you.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #137,115
  • Aug 31, 2009 10:12pm Aug 31, 2009 10:12pm
Quoting The Fool
When I stick to what works for me I do ok. When I first started out I used the BB in what Kathy Lien calls the 5-min Mo Mo method. Google her and you will find the article on Investipedia. Then I started hanging out on forums and picked up some knowledge here and there. I use S/R from observation & also calc'd daily, weekly pivots. I have spent alot of time trading on the low tf charts - 30s, 1m, 3m, 5m. I have learned alot from the VSA materials that are here and also on Trader's Laboratory. I trade futures and keep the CME futures charts rolling...
That's the profit. How about Stop Loss? How many SL do you put?
  • #137,116
  • Aug 31, 2009 10:36pm Aug 31, 2009 10:36pm
look out 4 spike. 59 64 74/76 103 111
those who can, do. those who cant, talk about those who can
  • #137,117
  • Aug 31, 2009 10:37pm Aug 31, 2009 10:37pm
Quoting bamsw
That's the profit. How about Stop Loss? How many SL do you put?
I either have an "emergency" stoploss of several times my profit target - this is typically never hit as I will stop out manually....or I will have a default sl to go along with a default tp and this is typically at 1:1 sl:tp or less. I rarely have a sl hit and will instead stop out manually.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #137,118
  • Aug 31, 2009 10:41pm Aug 31, 2009 10:41pm
Quoting gatorinla
look out 4 spike. 59 64 74/76 103 111
weakness all the way around
"If The Fool persists in his Folly he will become wise." - William Blake
  • #137,119
  • Aug 31, 2009 10:44pm Aug 31, 2009 10:44pm
Quoting The Fool
I either have an "emergency" stoploss of several times my profit target - this is typically never hit as I will stop out manually....or I will have a default sl to go along with a default tp and this is typically at 1:1 sl:tp or less. I rarely have a sl hit and will instead stop out manually.
I have recently adopted exact way of tradin the way u do...lets see how profitable it comes out but till now for me it seems so promissing
  • #137,120
  • Aug 31, 2009 10:46pm Aug 31, 2009 10:46pm
Quoting The Fool
weakness all the way around
how many pips u target daily?
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