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  • #158,741
  • Nov 4, 2009 9:20am Nov 4, 2009 9:20am
Quoting Jfk
That appeared to be a big short covering pop?
No, the big stop run will be above 4860....if it happens today.
  • #158,742
  • Nov 4, 2009 9:23am Nov 4, 2009 9:23am
Would .4850 be a good level for a resistance trade? Anybody.
  • #158,743
  • Nov 4, 2009 9:23am Nov 4, 2009 9:23am
I just closed my long poisition, had 10 more pips to hit my target but we are getting very close to the ADR I will take the 62 pips and call it a success...
  • #158,744
  • Nov 4, 2009 9:27am Nov 4, 2009 9:27am
I think they want to take out the 10000 level on the equities. Its going to be an uphill challenge. Either this till its going to be a breakout or a test and huge fall.
  • #158,745
  • Nov 4, 2009 9:27am Nov 4, 2009 9:27am
Quoting Jfk
Would .4850 be a good level for a resistance trade? Anybody.
4840-4850 are in 50% fib of the move down from 1.50xx to 1.4625. Pretty strong resistance. We are likely to hang out between 4850 and 4800 for a while. I'm long, so I hope 4850 gives way in short order...but I am not holding my breath.
  • #158,746
  • Nov 4, 2009 9:27am Nov 4, 2009 9:27am
Quoting Jfk
Would .4850 be a good level for a resistance trade? Anybody.
Yes I think so, we are nearing the ADR and a round number so I think it could be a good resistance level for today, unless it gets news spiked...
  • #158,747
  • Nov 4, 2009 9:28am Nov 4, 2009 9:28am
Quoting cphcphcph
i put a sell limit @ 1.4845
Anything above 1.4800 is good in my opinion. It's better to catch the downtrend late than never
  • #158,748
  • Nov 4, 2009 9:28am Nov 4, 2009 9:28am
Hey

Who all think that if the FED gives a hawkish statement(unlikely) the strength of EU will be erased? Or will a hawkish statement take it higher?

I am really confused about how the market will react to this news since EU is already soaring.

Regards

Neo
  • #158,749
  • Nov 4, 2009 9:28am Nov 4, 2009 9:28am
Looks like we're still in that October 38.2%-61.8% fib range.

1.4703-1.4841...
Getting it right is NOT as important as not getting it wrong.
  • #158,750
  • Nov 4, 2009 9:29am Nov 4, 2009 9:29am
from what i see dx could not close above the trend channel and yesterday candle looks like a up-trust, wait for confirmation, s&p500 makes a very bullish turn and gold hits new historical highs followed by oil, so if price breaks 1.4870 area with confirmation i think will continue up.
"Imagination is more important than knowledge" Einstein
  • #158,751
  • Nov 4, 2009 9:29am Nov 4, 2009 9:29am
Quoting Jfk
Would .4850 be a good level for a resistance trade? Anybody.
Actually that is one of the reasons I closed my long poisition for now, it was getting close to that 4850 round number and the ADR both at the same time could be a very strong resistance level for today...
  • #158,752
  • Nov 4, 2009 9:31am Nov 4, 2009 9:31am
Quoting NightMoves
Actually that is one of the reasons I closed my long poisition for now, it was getting close to that 4850 round number and the ADR both at the same time could be a very strong resistance level for today...
4846 is the ADR I have on my chart and the 145 pip/day move has been holding pretty close....
  • #158,753
  • Nov 4, 2009 9:33am Nov 4, 2009 9:33am
I think today is great day for trading, really.
  • #158,754
  • Nov 4, 2009 9:36am Nov 4, 2009 9:36am
Quoting NightMoves
4846 is the ADR I have on my chart and the 145 pip/day move has been holding pretty close....

If you look at the H4 they have been trying to break out around the level thrice, each time the fall becomes greater. I suspect it won't succeed, and will tank and bring a new low pass 1.4618
I am both right and wrong, what's important is the amount of $$$ in my bank
  • #158,755
  • Nov 4, 2009 9:40am Nov 4, 2009 9:40am
Quoting neo1599
Hey

Who all think that if the FED gives a hawkish statement(unlikely) the strength of EU will be erased? Or will a hawkish statement take it higher?

I am really confused about how the market will react to this news since EU is already soaring.

Regards

Neo
Fed statement is very likely to be unchanged from the last statement. If the fed were to signal tightening it would be, quite frankly, shocking. Weak dollar is in US intrest right now... I would not be looking for anything comming out of US to change that. Let's face it, the biggest reason for this dip was SNB intervention. We are likley headed up until the SNB steps in again.
  • #158,756
  • Nov 4, 2009 9:40am Nov 4, 2009 9:40am
Quoting amgblack
If you look at the H4 they have been trying to break out of the level thrice, each time the fall becomes greater. I suspect it won't succeed, and will tank and bring a new low pass 1.4618
Yes it can easily happen, I trade the trends no matter what and even the trends within the trends, the long term is certainly bullish and the shorter TF is bearish, but when a trend develops in eaither direction there are key entry point and targets on every type of trend and even though this is a small trend the entry signal was still there and I took it...
  • #158,757
  • Nov 4, 2009 9:45am Nov 4, 2009 9:45am
Holding long from .4800 target .4855 sl BE
if hit
Short from .4860 target .4820 sl .4870
  • #158,758
  • Nov 4, 2009 9:46am Nov 4, 2009 9:46am
Quoting NightMoves
Yes it can easily happen, I trade the trends no matter what and even the trends within the trends, the long term is certainly bullish and the shorter TF is bearish, but when a trend develops in eaither direction there are key entry point and targets on every type of trend and even though this is a small trend the entry signal was still there and I took it...
The trend is a young trend on the 15 min TF but the entry signal came right after the 4 hour trendline was broke, and I used the ADR to set my final target on this trade. But this is only small piece of the puzzle, larger time frames prevail IMO and when I get a good confirmation on those trends I play it the same way but I have not seen that confirmation as of yet so I will trade the smaller trends within the bigger trends...
  • #158,759
  • Nov 4, 2009 9:49am Nov 4, 2009 9:49am
Quoting FX-Petra
Fed statement is very likely to be unchanged from the last statement. If the fed were to signal tightening it would be, quite frankly, shocking. Weak dollar is in US intrest right now... I would not be looking for anything comming out of US to change that. Let's face it, the biggest reason for this dip was SNB intervention. We are likley headed up until the SNB steps in again.
I agree, the Feds will not change the tune this time, and they need a weak dollar. Yesterday there was a downside breakout that did not follow thru and now the bulls are confident again. Might just go to 1.5000 today.
  • #158,760
  • Nov 4, 2009 9:52am Nov 4, 2009 9:52am
Don't fight the fed people, it's as simple as that...

When the fed will reverse course we'll know, just because they will send huge signals to avoid a giant worldwide crash, that would defeat the purpose of the current policies...

The trend is your friend, till the end when it bends.

Just my 2 cents.
Getting it right is NOT as important as not getting it wrong.
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