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  • #155,861
  • Oct 26, 2009 3:26pm Oct 26, 2009 3:26pm
damn red lines!!! same old march chart.
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those who can, do. those who cant, talk about those who can
  • #155,862
  • Oct 26, 2009 3:30pm Oct 26, 2009 3:30pm
Quoting vinesh2
Aerzab whats up bro. I dont think its going to break that level in the 1st try. Look at some longer term time frames that area is pretty stubburn to break. It will take a few tries. We may consolidate for a little bit between 1.49 area and 1.484 area. Its only Monday so I am not going to beleive these moves till at least end Asian session on Wed.
Hey mate I'm fine how is things over there. If you mean LTL on daily I'm also not sure that price is able to break it so fast and furious at the first try coz that daily TL has proved to be tough for a long time now ... market has been respecting it since early March this year.

But about 1.4840 it seems that sellers are heavily armed and it's fairly possible for them to break this level after a small retrace ... now I think 1.4950 should hold on retrace up which will prove that the medium term trend has changed. If 1.4950 breaks convincingly to the up side then bull will be able most likely to push it up to last high or may be new high again.

As you said it will be more clear when we near end of this week.
Discipline + Patience - Fear - Greed = Success
  • #155,863
  • Oct 26, 2009 3:31pm Oct 26, 2009 3:31pm
I'm on the sidelines. I wouldn't trust anything right now. I'd guess that most retail traders are long right now. Don't be surprised if this baby falls even more. I'll wait it out for a bit longer. I made some pips earlier in the day so I'm good sitting on the sidelines.

In FX never trust what you see without asking a bunch of questions.
  • #155,864
  • Oct 26, 2009 3:38pm Oct 26, 2009 3:38pm
I hope many of you grabbed that short move. I have expected this move for a few days now but unfortunately it occurred about 4am my time so I was fast asleep

Never mind though, other moves will come to me. What I'm interested in at the moment though is the retrace and the overall meaning behind this move. The retrace may go to 4928 (+ or -) which is the 38.2 fib from 5060 to 4850. I'm not sure that that will happen, it's just a thought at this stage. if that does happen though, and we get another drop after, perhaps this is going to be the early reversal sign??

I don't know for sure that the above will pan out, and I'm sure no one knows either, but I have been saying for a while now that this thing can't go much higher so we shall see I guess.

No need for a chart, it's all pretty simple

5c
Doing what you like is Freedom. Liking what you do is Happiness.
  • #155,865
  • Oct 26, 2009 3:47pm Oct 26, 2009 3:47pm
vinesh,for a reason, how about fed stop buying long term securities this month there by removing the cause for us dollar devaluation.may be this is just correction but again retrospectively we can come with any number of reason.the important thing is its happening in the present.
Allah has permitted trade and has forbidden interest [koran]
  • #155,866
  • Oct 26, 2009 4:10pm Oct 26, 2009 4:10pm
Hi

I know wrong place to post but I think this will be helpful in general.

I hope this counts as stop-loss hunting. IBFX

No reason for spreads to be what they are right now

Neo
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  • #155,867
  • Oct 26, 2009 4:14pm Oct 26, 2009 4:14pm
Quoting neo1599
Hi

I know wrong place to post but I think this will be helpful in general.

I hope this counts as stop-loss hunting. IBFX

No reason for spreads to be what they are right now

Neo

Not to be an ahole, but there's a reason or they wouldn't be what they are. Even OandA is 4.3 right now (as I type). Unfortunately, it's a cost of doing business. Not much us traders can do about it. Complain? Nobody would listen. And better yet, nobody would care. lol.
  • #155,868
  • Oct 26, 2009 4:15pm Oct 26, 2009 4:15pm
Quoting GulfCoastPip
Not to be an ahole, but there's a reason or they wouldn't be what they are. Even OandA is 4.3 right now (as I type).
MB Trading is 1.6 and they are ECN, so what would be the reason??
  • #155,869
  • Oct 26, 2009 4:16pm Oct 26, 2009 4:16pm
Quoting neo1599
Hi

I know wrong place to post but I think this will be helpful in general.

I hope this counts as stop-loss hunting. IBFX

No reason for spreads to be what they are right now

Neo
I still have a 2 pip spread from FXDD
  • #155,870
  • Edited 4:20pm Oct 26, 2009 4:16pm | Edited 4:20pm
Quoting neo1599
Hi

I know wrong place to post but I think this will be helpful in general.

I hope this counts as stop-loss hunting. IBFX

No reason for spreads to be what they are right now

Neo
Guess my broker (IB) is better

PS: they have small spreads but charge a transaction fee
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  • #155,871
  • Oct 26, 2009 4:32pm Oct 26, 2009 4:32pm
someone knows why the eurusd went down? i went for short...which let me several profits pips but i don't know why there was a candle like that..it began at 16:00 markt watch...
  • #155,872
  • Oct 26, 2009 4:39pm Oct 26, 2009 4:39pm
http://www.mineweb.com/mineweb/view/...9833&sn=Detail#

Will someone please expain what this means for Gold and Central Banks next week ?
  • #155,873
  • Oct 26, 2009 4:46pm Oct 26, 2009 4:46pm
Quoting kingrex
http://www.mineweb.com/mineweb/view/...9833&sn=Detail#

Will someone please expain what this means for Gold and Central Banks next week ?
Old.
  • #155,874
  • Oct 26, 2009 4:48pm Oct 26, 2009 4:48pm
Quoting kingrex
http://www.mineweb.com/mineweb/view/...9833&sn=Detail#

Will someone please expain what this means for Gold and Central Banks next week ?
some think gold up some think down.. its the market lining up a buyer to a seller. for each buyer there is a seller. one thinking he is out smarting the other. while the middleman makes the most. i dont know the answer, but it more then likely going to be a rough trip.
those who can, do. those who cant, talk about those who can
  • #155,875
  • Oct 26, 2009 4:50pm Oct 26, 2009 4:50pm
Quoting gatorinla
some think gold up some think down.. its the market lining up a buyer to a seller. for each buyer there is a seller. one thinking he is out smarting the other. while the middleman makes the most. i dont know the answer, but it more then likely going to be a rough trip.
A perfect description of ALL markets

FYI: A friend of mine has been shorting the entire bull run on the stock markets, and is now trying longs ...
  • #155,876
  • Oct 26, 2009 5:07pm Oct 26, 2009 5:07pm
Quoting kingrex
http://www.mineweb.com/mineweb/view/...9833&sn=Detail#

Will someone please expain what this means for Gold and Central Banks next week ?
if you got a usd/zar chart it may help. its closely follows gold. the longer trend is lower. but within the trend it did not hit lower trendline last atempt and looks like it will hit the upper again soon. i dont have a gold chart but it seems gold price is easing some short term. and since upper trendline not yet hit, gold should move lower. if trendline is broken then the gates open lower for gold...also with this in mind gold prices should ease short term.. but its forex and gold.. nothing is a sure thing.
but i was not looking at a gold chart and zar will more then likely hit upper trendline and resume trend..in turn gold moves further up again..
those who can, do. those who cant, talk about those who can
  • #155,877
  • Oct 26, 2009 5:18pm Oct 26, 2009 5:18pm
As per historical data, when it crossed 1.4000 zone, then a similar thing happened. It went back to 1.39xx levels for a couple of days before again moving back to 1.4000 zone.

The uptrend is there, it is a usual up and down going on.
  • #155,878
  • Oct 26, 2009 5:27pm Oct 26, 2009 5:27pm
Quoting gatorinla
if you got a usd/zar chart it may help. its closely follows gold. the longer trend is lower. but within the trend it did not hit lower trendline last atempt and looks like it will hit the upper again soon. i dont have a gold chart but it seems gold price is easing some short term. and since upper trendline not yet hit, gold should move lower. if trendline is broken then the gates open lower for gold...also with this in mind gold prices should ease short term.. but its forex and gold.. nothing is a sure thing.
but i was not looking...
i put that in the last post to make you aware usd/zar could be giving a signal upper trendline may not hold..a bullish signal. time will tell. but if it doesnt hold gold will go lower..
those who can, do. those who cant, talk about those who can
  • #155,879
  • Oct 26, 2009 5:29pm Oct 26, 2009 5:29pm
Is it Euro that is falling or USD getting stronger? (if both which one is leading the other?)

I see no significant change in USD/JPY parity

At the same time Eur/Usd and Eur/JPY charts look identical for today's move.


ps. But similar comparision with AUD gives a totally different picture.


Which coffee is the best?........... I badly need some.
The Thief of Wall Street
  • #155,880
  • Oct 26, 2009 5:32pm Oct 26, 2009 5:32pm
Quoting Chicky
Is it Euro that is falling or USD getting stronger? (if both which one is leading the other?)

I see no significant change in USD/JPY parity

At the same time Eur/Usd and Eur/JPY charts look identical for today's move.
EURUSD - down
USDCHF - up
GBPUSD - down
USDJPY - up
USDCAD - up

Make your own mind up ?
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