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Attachments: EURUSD Charts
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EURUSD Charts

  • #261
  • Quote
  • Oct 27, 2009 5:46pm Oct 27, 2009 5:46pm
lower tl... break or bounce?
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  • #262
  • Quote
  • Oct 28, 2009 3:06am Oct 28, 2009 3:06am
Short term perspective:

Retrace to just above 1.49, stop below last low at 1.476.

From here:

A) Another test to 1.50?
B) Sell a break below 1.476
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  • #263
  • Quote
  • Oct 28, 2009 4:37am Oct 28, 2009 4:37am
small triangle to break
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  • #264
  • Quote
  • Oct 28, 2009 9:30am Oct 28, 2009 9:30am
New home sales news due in about half and hour (30 Minutes).

We are at a critical stage of a major correction (on 1H/Dailly timeframe).

Recent snap-shot taken few minutes ago on 1H

Blue lines are that of the inner channel appearing few posts above.

Click at the chart for better view.
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The Thief of Wall Street
  • #265
  • Quote
  • Oct 28, 2009 9:44am Oct 28, 2009 9:44am
A typical outcome of unskilled and inexprienced traders trying to news trade, result could have been opposite though.

Click at the picture for better view.

ps. This is a testing trade on demo, trade still running.
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The Thief of Wall Street
  • #266
  • Quote
  • Oct 28, 2009 4:26pm Oct 28, 2009 4:26pm
Price has still not taken out the 45 sma (pink line) I will be looking to trade a bounce off this line if the opportunity presents its self tomorrow..
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  • #267
  • Quote
  • Oct 28, 2009 4:44pm Oct 28, 2009 4:44pm
Quoting Chicky
A typical outcome of unskilled and inexprienced traders trying to news trade, result could have been opposite though.

Click at the picture for better view.

ps. This is a testing trade on demo, trade still running.
I have very nearly fallen victim to this exact scenario when I first started trading news announcements. I got out of it ok, but it served as a good lesson of what not to do. I never trade the news now. I wait for at least 30 minutes before contemplating a trade. If I leave a couple of hundred spike pips on the table, that's all good with me. Protecting capital is my number one priority!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #268
  • Quote
  • Oct 29, 2009 10:00am Oct 29, 2009 10:00am
Daily chart two hours after NY open on Thursday.

I try to keep trading very simple and therefore never go into too much technicals without denying their utility.

I would not short this thing unless for a few pip scalp.
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The Thief of Wall Street
  • #269
  • Quote
  • Oct 29, 2009 10:10am Oct 29, 2009 10:10am
Quoting Chicky
A typical outcome of unskilled and inexprienced traders trying to news trade, result could have been opposite though.

Click at the picture for better view.

ps. This is a testing trade on demo, trade still running.
That testing trade on demo is running good now. Still significantly in red but this $3,000 demo account is recovering from 50% draw down.
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The Thief of Wall Street
  • #270
  • Quote
  • Oct 29, 2009 10:51am Oct 29, 2009 10:51am
Gold needs to break this level.

Euro (and other majors) generally follows gold's direction because gold's strength is (usually) due to dollar's weakness.
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The Thief of Wall Street
  • #271
  • Quote
  • Edited 3:49pm Oct 29, 2009 1:07pm | Edited 3:49pm
Got 104 pips on the way up, ive just took a short of the 18 sma yellow line, got in @ xxx46 looking for a 23% fib retrace off todays move up.. thats a target off xxx12.. see how it goes..

Clossed the short @ xxx27
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  • #272
  • Quote
  • Oct 29, 2009 8:21pm Oct 29, 2009 8:21pm
Looking at the big picture

This is a weekly chart

Click at the chart to see magic.
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The Thief of Wall Street
  • #273
  • Quote
  • Oct 31, 2009 3:53am Oct 31, 2009 3:53am
Hey Chicky what do you think the next week for euro, seeing u Bullish
  • #274
  • Quote
  • Oct 31, 2009 6:03am Oct 31, 2009 6:03am
Quoting macd700
Hey Chicky what do you think the next week for euro, seeing u Bullish
No idea, absolutely no idea.

It all depends on what NFP and G-7 bring out. But would keep an eye on market. If one can read between the lines, can catch a hint few days prior to information going public.

Meanwhile you may like to check Second Law of Motion, it equally applies to forex market, but with tight money management .
The Thief of Wall Street
  • #275
  • Quote
  • Oct 31, 2009 6:17am Oct 31, 2009 6:17am
I am seeing 4500 again..
Retrace to 4755 area, then down..
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ABCD..
  • #276
  • Quote
  • Oct 31, 2009 6:29am Oct 31, 2009 6:29am
Quoting sreeprakash
I am seeing 4500 again..
Retrace to 4755 area, then down..
This is what my initial feeling is. But it came down on a Friday and therefore could be because of 1) Profit taking, 2) Fear because it failed to break a key resistance around 1.4865 or so, 3) People short from 1.5000 have nothing to lose except a portion of their profit 4) In its history it remained above 1.5000 for very short time, 5) Euro is so strong EU may like to do something about it, etc


But one cannot ignore short term spikes or ranging in this uncertain conditions. I consider all the above reasons not backed up by a concrete fact.

No matter where it decides to go, should provide a good pull back for a safer entry.

ps. It never came back to re-test 1.4500 the day after last NFP. You may like to check the first post on this thread. It in fact disappointed me.
The Thief of Wall Street
  • #277
  • Quote
  • Nov 2, 2009 3:58pm Nov 2, 2009 3:58pm
Been off line for while but.....look at gold......this is of concern to me because it seems to indicate that the dollar is still well and truely in the 'thick of it' and that there are still more people looking at the 'hole' and not the 'donut'. At the end of the day it doesn't really matter to me because if the dollar is going to linger and/or get weaker, then so be it. I'll trade what I see, but I was expecting to see 1.45xx - 1.46xx this week.
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #278
  • Quote
  • Nov 2, 2009 4:13pm Nov 2, 2009 4:13pm
Everybody wants 1.46-1.45 Level, it seems we are going to 1.50-1.51
  • #279
  • Quote
  • Nov 2, 2009 4:16pm Nov 2, 2009 4:16pm
Will the USD take a good hit when the RBA announces a rate increase later today, or is that expectation already too well "cooked-in"? Oh no, what if there is no rate rise after all?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #280
  • Quote
  • Nov 2, 2009 4:48pm Nov 2, 2009 4:48pm
Quoting The Fool
Will the USD take a good hit when the RBA announces a rate increase later today, or is that expectation already too well "cooked-in"? Oh no, what if there is no rate rise after all?
Very hard to say dood.....If a further rise to 1.50 - 1.60 is in order, then good....lets get it on....else lets let this drop. Either way would be fine with me 'personally', but the bigger picture is the world economy.

As far as the RBA and the myriad of other news that's coming over the remainder of the year, it's very much 'trade what you see'. It makes it a bit difficult for me because that kind of 'shoot from the hip' trading doesn't really suit my style, but I think there are enough moves that do suit my style to give me my quota......I just have to be very careful!!
Doing what you like is Freedom. Liking what you do is Happiness.
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