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  • #157,941
  • Nov 2, 2009 10:55am Nov 2, 2009 10:55am
Quoting NightMoves
Here is what I am basing my trade on, looking at the daily chart it is clear we have an uptrend, we are in the area to look for a turnaround, on the shorter time frames it looks like quite a mess but a bigger picture clearly shows the up trend is still intact and the Bulls are still controlling this market...at least at the moment...so my S/R lines are in place and I wait for them to be tested and breached, then the pull back, then the continuation and then I trigger an entry above the level of the start of the pullback and set my SL just below...
Just a consolidation before further fall. See my USDX chart I posted on Sunday.
  • #157,942
  • Nov 2, 2009 10:56am Nov 2, 2009 10:56am
Quoting FX-Petra
How may stops are just above 4860? No way to know, but I'll bet it is enough to be just to tempting for a retail bank not to try and book some profit. If there is another push up toward 4850, expect someone to pile on and try to run those stops. I have a buy order @ 4865 with tp @ 4880 to participate in the stop run if it indeed gets attempted today.
I guess it's the banks way of shaking the lose apples out of the tree....
  • #157,943
  • Nov 2, 2009 10:57am Nov 2, 2009 10:57am
Quoting zilijen
thanks guys for all you help..thank you egypt..i did go through some forexfactory stuff..but was thinking you guys could help me out quicker and tell me what's good..

wait for my advice soon

thank you very much
u welcome man
  • #157,944
  • Nov 2, 2009 10:57am Nov 2, 2009 10:57am
Quoting egypt
i believe in my analysis not in my feeling
look for news usd positive news
up now unbelieved
and we will see what happen
good luck

sure, partly agree with his analysis, since a substantial improvement in the U.S. market, and with the completion of the FOMC meeting on Wednesday next, we can expect speculation to be powerful in light of any (remote) operations the current American interest rate.
would be wonderful to see the U.S. back to 14,700 today ...
Let us be green
  • #157,945
  • Nov 2, 2009 10:59am Nov 2, 2009 10:59am
Quoting Atlast
Just a consolidation before further fall. See my USDX chart I posted on Sunday.

can check the number of your post? already than no found ...
Let us be green
  • #157,946
  • Nov 2, 2009 11:01am Nov 2, 2009 11:01am
Can this movement?
Let us be green
  • #157,947
  • Nov 2, 2009 11:04am Nov 2, 2009 11:04am
Quoting Atlast
Just a consolidation before further fall. See my USDX chart I posted on Sunday.
And you very well could be correct, that is why I do not try and predict what this market is going to so I only react to it, and if the trend is up I look for longs, if the trend is down I look for shorts, and it goes on and on, been doing it this way for 4 years now. If the market goes down, then I will wait for a down trend to get established if it does go up then I will jump on board going up, if it goes sideways then I will wait until the consolidation is done and wait and see what it does next...and I do this over and over and over...gets kind of repetitious after a while...
  • #157,948
  • Nov 2, 2009 11:08am Nov 2, 2009 11:08am
http://img233.imageshack.us/img233/8434/eurusdg.jpg

can this moviment? any comment?
Let us be green
  • #157,949
  • Nov 2, 2009 11:10am Nov 2, 2009 11:10am
Quoting leafarct
sure, partly agree with his analysis, since a substantial improvement in the U.S. market, and with the completion of the FOMC meeting on Wednesday next, we can expect speculation to be powerful in light of any (remote) operations the current American interest rate.
would be wonderful to see the U.S. back to 14,700 today ...
i think if today get big down we will see 1.4650 , 4625
but need just good entry ( in Asian season )
good luck
  • #157,950
  • Nov 2, 2009 11:12am Nov 2, 2009 11:12am
Quoting NightMoves
And you very well could be correct, that is why I do not try and predict what this market is going to so I only react to it, and if the trend is up I look for longs, if the trend is down I look for shorts, and it goes on and on, been doing it this way for 4 years now. If the market goes down, then I will wait for a down trend to get established if it does go up then I will jump on board going up, if it goes sideways then I will wait until the consolidation is done and wait and see what it does next...and I do this over and over and over...gets kind...
Do you also scalp ranges? I do that once in a while within consolidations, only if the market is quite (out of overlap trading hours). Also, do you use the H1 trendlines or daily to establish a trend?
  • #157,951
  • Nov 2, 2009 11:19am Nov 2, 2009 11:19am
Quoting investor_me
Do you also scalp ranges? I do that once in a while within consolidations, only if the market is quite (out of overlap trading hours). Also, do you use the H1 trendlines or daily to establish a trend?
No I am not a scalper, I always look at the big picture using the longer time frames to determine actual market sentiment. The trends can happen on any time frame however the longer the time frame is the more dominate it becomes, I look for S/R on the longer time frames and check them against the trends on the smaller time frames to see if there are S/R clashes about to happen. Using fib, preivous swing lows or highs...etc I use a setup chart and a trigger chart, I do not normally trigger an entry on the same time frame I saw the setup on, I feel that zooming in a little gets you better look at the action and it is easier to see the reversal patterns for an entry...
  • #157,952
  • Nov 2, 2009 11:19am Nov 2, 2009 11:19am
Quoting TheLastCoke
Bounces till it break those lines
it will work till it dont *L*
those who can, do. those who cant, talk about those who can
  • #157,953
  • Nov 2, 2009 11:22am Nov 2, 2009 11:22am
Quoting gatorinla
drop to 4810 or 4777 thats my short term question..
ok does 10 hold..if not..........4777
those who can, do. those who cant, talk about those who can
  • #157,954
  • Nov 2, 2009 11:29am Nov 2, 2009 11:29am
Quoting NightMoves
And you very well could be correct, that is why I do not try and predict what this market is going to so I only react to it, and if the trend is up I look for longs, if the trend is down I look for shorts, and it goes on and on, been doing it this way for 4 years now. If the market goes down, then I will wait for a down trend to get established if it does go up then I will jump on board going up, if it goes sideways then I will wait until the consolidation is done and wait and see what it does next...and I do this over and over and over...gets kind...
Something tells me you are doing OK. Just to carry on the conversation. Take a look at the USDX daily chart, instead of the weekly I posted, you will see that the positioning for a long play in EU above recent high is counter to what the USDX is doing. Better to have the odds in your favour and position for a short play on confirmation, until at least the resistance in USDX at 76.84 is reached or it's 50% ret.
I don't normally consult the USDX chart as the EU chart and US/CHF is normally sufficient, but at times of major or minor turns I do as it helps to know which side you should be trading or positioning.
  • #157,955
  • Nov 2, 2009 11:33am Nov 2, 2009 11:33am
Quoting investor_me
Do you also scalp ranges? I do that once in a while within consolidations, only if the market is quite (out of overlap trading hours). Also, do you use the H1 trendlines or daily to establish a trend?
I was taught this system about 4 years ago and I have used it ever since with really good results, so I have stuck with it and I have used it on all tme frames, it is just the shorter the time frame you use the shorter your targets will be. But it does work on all time frames, although I have never tried it on anything less than 15 minute time frame....but I am sure it would work just set the targets and SL accordingly.
  • #157,956
  • Nov 2, 2009 11:34am Nov 2, 2009 11:34am
I have resistance at 4860-62...watch possible bounce at 00
  • #157,957
  • Nov 2, 2009 11:44am Nov 2, 2009 11:44am
If it breaks the 4800 mark downwards convincingly, it would probably go all the way to the 50 fib at around 1.4775. I've got a good short and hope to make pips out of this move. Nonetheless, I'm using a trailing stop just in case
  • #157,958
  • Nov 2, 2009 11:45am Nov 2, 2009 11:45am
Quoting mfoste1
I have resistance at 4860-62...watch possible bounce at 00
That is the area I am watching as well, I expect a bounce off that area and if it gets broken then I will look for long entries to the next level...
  • #157,959
  • Nov 2, 2009 11:48am Nov 2, 2009 11:48am
Quoting leafarct
http://img233.imageshack.us/img233/8434/eurusdg.jpg

can this moviment? any comment?
I am looking for a reversal just above 1.4763, should it get there, I notice it is also very near your Fib Level (38.2(1.4760))!!
Good Trading. (keep it simple).
  • #157,960
  • Nov 2, 2009 11:53am Nov 2, 2009 11:53am
One nice thing about this sideways going pair is the fact it makes it pretty darn easy to see the break out, these consolidating areas are the easiest to trade once the breakout happens....
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