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EURUSD

  • #153,181
  • Oct 16, 2009 6:48am Oct 16, 2009 6:48am
I am starting to open some longs now seems like bottom to me.... maybe wrong but
  • #153,182
  • Oct 16, 2009 6:49am Oct 16, 2009 6:49am
Quoting Trading Cat
typical I get out of my shorts and whoo hoo it drops like there is no tomorrow hehehhee
need some more rest then have a look again at the €
take care everyone

believe me - that's not just you...!
  • #153,183
  • Oct 16, 2009 6:50am Oct 16, 2009 6:50am
Quoting tradertom
believe me - that's not just you...!
same here ....
  • #153,184
  • Oct 16, 2009 6:50am Oct 16, 2009 6:50am
Hopefully US news today comes out positive and drives the EUR down further where it belongs
In Charts We Trust!
  • #153,185
  • Oct 16, 2009 6:52am Oct 16, 2009 6:52am
I am out at 1.4870. 17 hard earned pips.
If you're not part of the solution then you're part of the problem.
  • #153,186
  • Oct 16, 2009 6:52am Oct 16, 2009 6:52am
Quoting viljam
I am starting to open some longs now seems like bottom to me.... maybe wrong but

this is not the bottom - this is the beginning
be careful with the longs
  • #153,187
  • Oct 16, 2009 6:54am Oct 16, 2009 6:54am
Quoting tradertom
this is not the bottom - this is the beginning
be careful with the longs
I am not opening anything yet but thats the plan if i see confirmation if it will broke down the S1 then we are on the ride to 1.47 and down I HOPE !

But now i belive until the news it will not break.

But guy´s so if it really start´s to come down then we are heading towards the 1.44 ?
  • #153,188
  • Oct 16, 2009 7:01am Oct 16, 2009 7:01am
Quoting Trading Cat
typical I get out of my shorts and whoo hoo it drops like there is no tomorrow hehehhee
need some more rest then have a look again at the €
take care everyone
Same thing happens to me too. Now I just set a trailing stop of 2 pips and takes whatever pips I get out of it.
  • #153,189
  • Oct 16, 2009 7:01am Oct 16, 2009 7:01am
Quoting tradertom
this is not the bottom - this is the beginning
be careful with the longs
The beginning was at 4966 where the double top formed (over 12 hours ago), we are nearing the end of the retracement.

Be careful with the SHORTS.
  • #153,190
  • Oct 16, 2009 7:02am Oct 16, 2009 7:02am
Trade Idea - 11:18:44
Saxo Bank FX Trade Ideas: Sell EURUSD: Entry: Market, Target: 1,4730, Stop Loss: 1,4955
Trade Idea - 11:20
TradeMaker FX Trade Idea: we sell EURUSD here just under 1.4900 and place a stop at 1.4955 bid and target 1.4730. See more in TradeMaker.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #153,191
  • Oct 16, 2009 7:04am Oct 16, 2009 7:04am
I am done for the day. 23 small pips today. I am going now. Bye.

Autochartist pattern forming on H4. Have a nice week-end.
Attached Image
If you're not part of the solution then you're part of the problem.
  • #153,192
  • Oct 16, 2009 7:06am Oct 16, 2009 7:06am
Quoting Trading Cat
typical I get out of my shorts and whoo hoo it drops like there is no tomorrow hehehhee
need some more rest then have a look again at the €
take care everyone
You shouldn't be ashamed of closing a trade at BE (especially a trade that is against the trend of higher timeframes). IMHO....at the time you closed your trade, it was clear that price was in consolidation - odds were therefore against you. It just so happens that the consolidation broke, took a quick pullback, and allowed a short entry to pick up some pips.
  • #153,193
  • Oct 16, 2009 7:11am Oct 16, 2009 7:11am
Quoting majorusa
I am done for the day. 23 small pips today. I am going now. Bye.

Autochartist pattern forming on H4. Have a nice week-end.

Kindly advise me how u use this autochartist b cos i tried subscribing but it didnt work out the way i expected......... any updates would do thanks.
  • #153,194
  • Oct 16, 2009 7:16am Oct 16, 2009 7:16am
If you have a live account on ibFx is free. Just download it and install on your PC. Then choose the pairs and wait for the results. But use with caution. It is not always accurate. But gives you a broad image on some patterns that you may not see if you focus only on short term maps like 1M and 5M.

I trade on the 15M but in market conditions like today I try to scalp some pips. Like in the last trade where I took the break and missed the target by 4 pips but exited with 17 pips plus.

Hope that this helps.
If you're not part of the solution then you're part of the problem.
  • #153,195
  • Oct 16, 2009 7:17am Oct 16, 2009 7:17am
So are we now heading to 1.47
  • #153,196
  • Oct 16, 2009 7:19am Oct 16, 2009 7:19am
Target reached. 1.4866. I exited prematurely
If you're not part of the solution then you're part of the problem.
  • #153,197
  • Oct 16, 2009 7:19am Oct 16, 2009 7:19am
Quoting PriceVolume
You shouldn't be ashamed of closing a trade at BE (especially a trade that is against the trend of higher timeframes). IMHO....at the time you closed your trade, it was clear that price was in consolidation - odds were therefore against you. It just so happens that the consolidation broke, took a quick pullback, and allowed a short entry to pick up some pips.
thx mate always good to hear
Have to go and get some other stuff sorted maybe back for US session.
cya
Trade on your own risk Plan your trade&trade your plan dont be a
  • #153,198
  • Oct 16, 2009 7:19am Oct 16, 2009 7:19am
Quoting fendi
Kindly advise me how u use this autochartist b cos i tried subscribing but it didnt work out the way i expected......... any updates would do thanks.

autochartist is yet another tool that basically just tells you what you should already know if you know how to read your charts and patterns in my opinion..i tried it as well for a month or so with somewhat disappointment as well..for me i prefer drawing triangles etc my self.
  • #153,199
  • Oct 16, 2009 7:22am Oct 16, 2009 7:22am
Quoting tradertom
this is not the bottom - this is the beginning
be careful with the longs
I agree with you. My chart tells me there are two major support zones:

- 1.4845: 61.8% retracement level of recent major move up (better seen on H4)
- 1.4825-1.4810: area comprised of a fib channel line and H1 200 EMA
  • #153,200
  • Oct 16, 2009 7:22am Oct 16, 2009 7:22am
Looks like the October quarter results are finally taking its affect as predicted....a week late, but, we'll see how far it goes...
In Charts We Trust!
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