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EURUSD

  • #148,421
  • Oct 1, 2009 1:01pm Oct 1, 2009 1:01pm
Blooddy stubburn little support level that 1.451 region
  • #148,422
  • Oct 1, 2009 1:04pm Oct 1, 2009 1:04pm
Quoting viljam
i can see that gold is trying to brake support if do so then we see nice ride
Thanks , I check gold chart. price break 0/8MM in h4 1000.00 seems unsuccessfull this time but stoches higher tf still pointing down & so should try again and as it entering overshoot area can down sufficiently.
eu bear may not be over yet.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #148,423
  • Oct 1, 2009 1:09pm Oct 1, 2009 1:09pm
Fontu there is lots of room to move down. We may see a bounce from 1.44 level to maybe 1.47 but then down to 1.435 level and scarily lower. Bernanke, Trichet, Bank of Canada they all made it very clear that a strong dollar is imp so there is already verbal intervention going on i have a 6month target of 1.35 and 12 month target of 1.51. I am a position trader so i deal with longer term tf's. Its better that way u dont worry about small moves don't have sleepless nights worrying about trades. I can easily earn 400pips a month without worries. Market runs on trader physcology. news are imp but most of it is noise. Always good to keep one ear open for news but in longer term technical play a big roll and history tends to repeat itslef.
  • #148,424
  • Oct 1, 2009 1:14pm Oct 1, 2009 1:14pm
lets push this thing down ;-)
Pation is the Holy Grail
  • #148,425
  • Oct 1, 2009 1:14pm Oct 1, 2009 1:14pm
Quoting gatorinla
bumping on a (red dotted diag) diag predictive 4544/46 ish they are still young and fragile..

the green diag intersects with this timeline and 4499... so we will see...
Thanks , now more confident about the break of 50% fib level ,just taking some time for the preparation.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #148,426
  • Oct 1, 2009 1:19pm Oct 1, 2009 1:19pm
vinesh that may be true that trichet and bernanke team want strong dollar but in that case how US going to come out of recession.strong dollar not going to help the export industry.another think us still buying these long term securities infact they have extended it till end of this month.i understand big boys like big round number like 1.5000 which is nearer and long term trend still intact.no doubt there is weekly doji but again it may mean nothing
Allah has permitted trade and has forbidden interest [koran]
  • #148,427
  • Oct 1, 2009 1:25pm Oct 1, 2009 1:25pm
Quoting fontu
Thanks , now more confident about the break of 50% fib level ,just taking some time for the preparation.
fontu
they are fragile dont forget.. and daily pivot and s1 are above us. but if we went straight up now it would hit 4612 s/r and have to get past 85 and 4603 (acording to next diag)...nothing is a sure thing.. but the day will close soon ... unless something big changes we should be ok..
those who can, do. those who cant, talk about those who can
  • #148,428
  • Oct 1, 2009 1:41pm Oct 1, 2009 1:41pm
This is where we are. Going long.
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The Thief of Wall Street
  • #148,429
  • Oct 1, 2009 2:04pm Oct 1, 2009 2:04pm
I woke up this mornin powerful hongry for some pips. Powerful hongry! Just got me 4 of em. Mmmmm good. Think I'll do that again, 20-30 times should do me for today.

Bone appetit!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,430
  • Oct 1, 2009 2:06pm Oct 1, 2009 2:06pm
Quoting vinesh2
Fontu there is lots of room to move down. We may see a bounce from 1.44 level to maybe 1.47 but then down to 1.435 level and scarily lower. Bernanke, Trichet, Bank of Canada they all made it very clear that a strong dollar is imp so there is already verbal intervention going on i have a 6month target of 1.35 and 12 month target of 1.51. I am a position trader so i deal with longer term tf's. Its better that way u dont worry about small moves don't have sleepless nights worrying about trades. I can easily earn 400pips a month without worries. Market...
Thanks for great advices , I will try to be longer term trader in time as I failed few times before & only success after I lost internet connection or gone out 1-2 days to see good profit only.

anyway just close 2 trades in gold done by mistake incidentally find after back from shop,closed them with profit though.
Doing all thing together is always a mess!!
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #148,431
  • Oct 1, 2009 2:15pm Oct 1, 2009 2:15pm
Quoting Chicky
This is where we are. Going long.
Well my charts are saying the same thing but i think i wont open any orders before the big new' s tomorrow .... atm i wont believe much in tech analysis seems like fundamental analysis play's now more than tech analysis.

Or i don't know either today i mixed up totally the profit what i have earned so far and i will be much more careful now.
  • #148,432
  • Oct 1, 2009 2:19pm Oct 1, 2009 2:19pm
Quoting viljam
Well my charts are saying the same thing but i think i wont open any orders before the big new' s tomorrow .... atm i wont believe much in tech analysis seems like fundamental analysis play's now more than tech analysis.

Or i don't know either today i mixed up totally the profit what i have earned so far and i will be much more careful now.
Agreed, but this pa came to long is too short a time. Must show some respect to 3:00 pm fade. Let's see how it works.
The Thief of Wall Street
  • #148,433
  • Oct 1, 2009 2:31pm Oct 1, 2009 2:31pm
Time to go sleep & so tp set for few shorts already be at 2pips to 1.4512 & pending buy at that level & 1.4480,55 & leaving . good night trade well all.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #148,434
  • Oct 1, 2009 2:35pm Oct 1, 2009 2:35pm
Quoting Chicky
Agreed, but this pa came to long is too short a time. Must show some respect to 3:00 pm fade. Let's see how it works.
?
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those who can, do. those who cant, talk about those who can
  • #148,435
  • Oct 1, 2009 2:45pm Oct 1, 2009 2:45pm
drzakir123 As per US Govt. recesession is over. We have already turned the corner those are not my words. People are beleving those words and spiking up the market you know why? So that they can tank it again. 3.1Trillion dollars in defecit how do you think they are going to pay for it? I agree big boys like the round number like 1.50 but they also like nice round umbers of 1.4 and 1.3 before they can take it up to 1.5. They all want to make money and right now price is too expensive to take it up to that level.
  • #148,436
  • Oct 1, 2009 2:50pm Oct 1, 2009 2:50pm
This is how i can see things now... it might go up but more likely it will come down just a guess depends what will happened tomorrow. I added my 1H chart also.
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  • #148,437
  • Oct 1, 2009 3:02pm Oct 1, 2009 3:02pm
Chart looks a little crowded but there's some pertinent info in there.

It looks like the shorts will have some pretty big hurdles to overcome here in the next week or so.

50% fib at 1.4518
61.8% fib at 1.4440
200sma/ema
Trendlines
Weekly S2 with daily convergence
Stoch's oversold

Not saying this can't be done especially with tomorrows news coming out. But I'm not saying it's going to be easy either. I'm still very short biased but there could be some stumbling.

4Hr chart
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  • #148,438
  • Oct 1, 2009 3:03pm Oct 1, 2009 3:03pm
I'm done for the week now. My overnight (NZ time) TP missed by 2 pips, so I close at 4520. I can't watch this too closely for the next 10 hours or so, and NFP will be at 1.30am my time, so best for me to stay out until the dust settles next week. It's been an interesting week, a week with a couple of really good decisions and one poor decision.....but a nice profit in the end.

For me it's a coin flip as to which way this will go, and I'm not here to do that!!! Good luck all
Doing what you like is Freedom. Liking what you do is Happiness.
  • #148,439
  • Oct 1, 2009 3:09pm Oct 1, 2009 3:09pm
Quoting The Fool
I woke up this mornin powerful hongry for some pips. Powerful hongry! Just got me 4 of em. Mmmmm good. Think I'll do that again, 20-30 times should do me for today.

Bone appetit!
Exactly one hour later, +21 pips, scalping off the peaks & dips of the wavelets in the range .4540-.4525 on M1 - 3-4 pips at a time, 6 winners & 0 losers. (5 pip net tp, 2 pip net sl). Probably could have got about twice that if I wasn't multi-tasking, talking on the phone, making breakfast, drinking coffee, still trying to wake up.

Now Vinesh2 and Jay Walker, both good men, want you to believe that holding a trade for days and weeks at a time, enduring 100's of pips of drawdown, making a few hundred pips a week (maybe) is somehow less stressful and less work than scalping. But I'm done til around Tokyo open, when I will do the same thing again. I have no trades open, no cash at risk. None of the trades mentioned above took more than 5 minutes to complete. I can do this day in/day out for 80-120 pips/day with about 4-6 hours of screen time.

Where is E/U going? To 1.5? Back down to 1.2? Who knows? Will it touch this or that 38.2 fib from a range measured over a period of years? Gimme a break. As a scalper I don't care - I just want to see some scalpable PA. (As a US citizen, I want to see a strong dollar, of course.)

Not trying to pick a fight with anybody, just my monthly promo for the joys of scalping.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #148,440
  • Oct 1, 2009 3:11pm Oct 1, 2009 3:11pm
Why does everyone worry about gold charts?? I can see if your are trading the AUD maybe.Theres only 1 chart you need and thats the EUD/USD chart.Might as well trade oil and use the Eur/Usd chart.I don't get it.
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