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  • #148,301
  • Oct 1, 2009 5:08am Oct 1, 2009 5:08am
Quoting trading801
well unemployment claims and nfp may give more kick to the movement'

shivers
Yeah....I want to avoid being in a trade by then
Doing what you like is Freedom. Liking what you do is Happiness.
  • #148,302
  • Oct 1, 2009 5:16am Oct 1, 2009 5:16am
I know its not going to drop that far in a week, but just drawing out the course it may be headed in....I'm short right now, if it goes back up the range, I'll short again until it breaks....if it breaks upward, I just exit trades and wait to re-evaluate.... if it breaks below consolidation support, I'll add to the trade, exit and re-enter on a retest of previous support which becomes resistance...

Oh yeah, it could drop fast and hard as bulls let go of their positions in anticipation of the new quarter and end of year...by Oct 8, all the financials will be out by then..



Quoting realjumper
Well I guess anything is possible, but (as yet) I can't see any fundamental reason for the EUR to lose that value in a week, and similarly I can't see any reason why the USD would gain that much strength so quickly. Might happen of course, but my thinking is that this will be a slow decline rather than a rush. Never can tell though, look at the PA today!!!
In Charts We Trust!
  • #148,303
  • Oct 1, 2009 5:20am Oct 1, 2009 5:20am
Quoting X.Oden
I know its not going to drop that far in a week, but just drawing out the course it may be headed in....I'm short right now, if it goes back up the range, I'll short again until it breaks....if it breaks upward, I just exit trades and wait to re-evaluate.... if it breaks below consolidation support, I'll add to the trade, exit and re-enter on a retest of previous support which becomes resistance...

Oh yeah, it could drop fast and hard as bulls let go of their positions in anticipation of the new quarter and end of year...by Oct 8, all the financials...

YOu think it will drop more than now ?
  • #148,304
  • Oct 1, 2009 5:21am Oct 1, 2009 5:21am
Quoting viljam
any ideas of going lower than 1.5690 ?
Whaddya mean?
In Charts We Trust!
  • #148,305
  • Oct 1, 2009 5:21am Oct 1, 2009 5:21am
Quoting X.Oden
I know its not going to drop that far in a week, but just drawing out the course it may be headed in....I'm short right now, if it goes back up the range, I'll short again until it breaks....if it breaks upward, I just exit trades and wait to re-evaluate.... if it breaks below consolidation support, I'll add to the trade, exit and re-enter on a retest of previous support which becomes resistance...

Oh yeah, it could drop fast and hard as bulls let go of their positions in anticipation of the new quarter and end of year...by Oct 8, all the financials...
Sounds good......and......the 8th is my birthday so that would be nice!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #148,306
  • Oct 1, 2009 5:21am Oct 1, 2009 5:21am
Quoting X.Oden
Whaddya mean?
Oh i were missing nr. 4 after one 1.4 not 1.5 lol
It already went
  • #148,307
  • Oct 1, 2009 5:25am Oct 1, 2009 5:25am
I'm not sure, the move looks strong, but I think by NY Open the bears will get out, price may go back up and then another bear attempt may take place....

Look a the chart I posted and follow the arrows.....that's just how I'm guessing it will happen, no concrete evidence, just looking at PA.....

Its Thursday today, NFP is around the corner, so we'll see short term consolidation till then later today in preperation for it.....



Quoting viljam
YOu think it will drop more than now ?
In Charts We Trust!
  • #148,308
  • Oct 1, 2009 5:28am Oct 1, 2009 5:28am
ECB’s head honcho Trichet says excess forex moves have adverse implications. It’s only a headline at the moment, so it’s not clear whether he feels recent euro strength is an excess move. I’d be surprised if he’d directly come out and say something like that at current levels, more likely to get a gentle hint here and there.
Suffice it to say, seems fairly clear (to me anyways) that euro zone officialdom really doesn’t want to see accelerated euro strength from current levels.
EUR/USD is drifiting very slowly lower, presently at 1.4560.
  • #148,309
  • Oct 1, 2009 5:28am Oct 1, 2009 5:28am
Quoting X.Oden
I'm not sure, the move looks strong, but I think by NY Open the bears will get out, price may go back up and then another bear attempt may take place....

Look a the chart I posted and follow the arrows.....that's just how I'm guessing it will happen, no concrete evidence, just looking at PA.....

Its Thursday today, NFP is around the corner, so we'll see short term consolidation till then later today in preperation for it.....

Thnx .... i got today only 10 pips overall i dont know what the heck i am doing ....
  • #148,310
  • Oct 1, 2009 5:29am Oct 1, 2009 5:29am
Eh Momentum on EUR is already weakening....time to take partial profits and move the rest to BE+1
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  • #148,311
  • Oct 1, 2009 5:37am Oct 1, 2009 5:37am
Quoting viljam
Thnx .... i got today only 10 pips overall i dont know what the heck i am doing ....
10 pips is 10 pips......you still won $$..

Well, wait for price to go up a bit, then short when momentum weakens (candlesticks will get thin with longer wicks at the top of the move), then just short it, when you make some profits when the move weakens on the short, just close half the position and adjust your stop to Break Even (BE) + 1 and let it ride for the rest of the move as far as you can ride it.....
At that point, you can take another half of the balance of the position and move your stop lower once more and let her continue to ride as far as you can go.....that's the best way to do it in my opinion...on a good trend, you can milk it with little risk...


Worst can happen is price stops you at for 1 pip from your original entry...but you would have already taken partial profits....
In Charts We Trust!
  • #148,312
  • Oct 1, 2009 5:42am Oct 1, 2009 5:42am
Quoting X.Oden
10 pips is 10 pips......you still won $$..

Well, wait for price to go up a bit, then short when momentum weakens (candlesticks will get thin with longer wicks at the top of the move), then just short it, when you make some profits when the move weakens on the short, just close half the position and adjust your stop to Break Even (BE) + 1 and let it ride for the rest of the move as far as you can ride it.....
At that point, you can take another half of the balance of the position and move your stop lower once more and let her continue to ride as...
Good advice thnx i have been doing this way but today i when many times short and then i sold it when i saw it going up again then i went again short but then i saw damn its going up then i sold it with minus after some time i saw fuck... it went down i dont know usually i am not acting like this but i dont know what´s wrong today ... similar day was yesterday as well.

I will try to take it more easy.

Cheers
  • #148,313
  • Oct 1, 2009 5:44am Oct 1, 2009 5:44am
You know, there's lots of news out today, and its probably bad advice, but if you took a long now using a very very small position and place your stop below the last swing low, maybe you'll get lucky and ride it back up to the top of consolidation....if not, you get stopped, but just an idea....maybe play with a mini lot or so....heh

Quoting viljam
Thnx .... i got today only 10 pips overall i dont know what the heck i am doing ....
In Charts We Trust!
  • #148,314
  • Oct 1, 2009 6:01am Oct 1, 2009 6:01am
.... until now i only trade GBP/USD but i see the price action of EUR/USD is more stable (more predictable) for day trader. GBP/USD has more volatility daily average around 150 pips in compare to EUR/USD just 110 pips .... please any advice from this forum ...

1. why do you prefer to trade EUR/USD?
2. how many pips do you get daily (average)?
3. which time frame is good for day trader?

as info i usually use 3 tfs: 5 m, 15m and 1 H ....

thanks ....

best regards,

dogol
  • #148,315
  • Oct 1, 2009 6:02am Oct 1, 2009 6:02am
Actually looks like the EUR is strong dropping still you may wanna wait till the move is exhausted then fade it back up
In Charts We Trust!
  • #148,316
  • Oct 1, 2009 6:03am Oct 1, 2009 6:03am
I prefer EURUSD because I can always hedge it against the USDCHF if I am off on my targets....

Quoting dogol
.... until now i only trade GBP/USD but i see the price action of EUR/USD is more stable (more predictable) for day trader. GBP/USD has more volatility daily average around 150 pips in compare to EUR/USD just 110 pips .... please any advice from this forum ...

1. why do you prefer to trade EUR/USD?
2. how many pips do you get daily (average)?
3. which time frame is good for day trader?

as info i usually use 3 tfs: 5 m, 15m and 1 H ....

thanks ....

best regards,

dogol
In Charts We Trust!
  • #148,317
  • Oct 1, 2009 6:04am Oct 1, 2009 6:04am
Quoting X.Oden
Actually looks like the EUR is strong dropping still you may wanna wait till the move is exhausted then fade it back up

yeah i am waiting it
  • #148,318
  • Oct 1, 2009 6:09am Oct 1, 2009 6:09am
my 40 pips for today
see chart
Attached Image (click to enlarge)
Click to Enlarge Name: 40pip.PNG Size: 83 KB
Trade on your own risk Plan your trade&trade your plan dont be a
  • #148,319
  • Oct 1, 2009 6:18am Oct 1, 2009 6:18am
hello everyone.
I am looking for a major reversal move today.

Trade at your own risk and analysis.
  • #148,320
  • Oct 1, 2009 6:22am Oct 1, 2009 6:22am
wtf is going on how this USD is strong ??????
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