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EURUSD

  • #159,361
  • Nov 6, 2009 1:30am Nov 6, 2009 1:30am
By the way,

don't you hate it when you enter a trade and then some v10+ member with billion posts says PA is going in the opposite direction? Even if you're very confident, it brings some anxiety, doesn't it?
  • #159,362
  • Nov 6, 2009 1:35am Nov 6, 2009 1:35am
Quoting fontu
still shorting ,first tp 1.4842 ,2nd 1.4811
fontu
Hi,

Fontu can you please post the channel indicator and the Kancing Bakakou indicator you are using? It looks very interesting. Thank you very much.

Regards
  • #159,363
  • Nov 6, 2009 1:37am Nov 6, 2009 1:37am
Quoting T.E.Lawrence
By the way,

don't you hate it when you enter a trade and then some v10+ member with billion posts says PA is going in the opposite direction? Even if you're very confident, it brings some anxiety, doesn't it?
Once I buy, it seems to trail the others. Not moving while others keep moving up ... I would get my luck tonight ....

Any insighst what to consider for trading this naughty boy ?
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  • #159,364
  • Nov 6, 2009 1:46am Nov 6, 2009 1:46am
Wish I'd stayed in bed this morning. Quiet before the storm!
  • #159,365
  • Nov 6, 2009 1:47am Nov 6, 2009 1:47am
Just gone long at 1.4874.

Any thoughts??
Good Trading. (keep it simple).
  • #159,366
  • Nov 6, 2009 1:48am Nov 6, 2009 1:48am
Once in a trade I use trade management mode, and not analysis mode. That way it doesn't matter what anyone thinks. That's how I do it. 3 modes: analysis, entry, management. The analysis mode comes first, then you are free to consider different scenarios, but once the trade is entered your mindset should be managing the trade not overanalysing and listening to opinions, although it helps to pass the time.
I had a look this morning at some analysts and traders videos of where they see the EU is going. Sentiment clearly bullish, though very few expecting large move down.
I am countertrend trading.
  • #159,367
  • Nov 6, 2009 1:53am Nov 6, 2009 1:53am
I'm going long if it breaks and holds above .4880
  • #159,368
  • Nov 6, 2009 1:53am Nov 6, 2009 1:53am
Quoting Atlast
Once in a trade I use trade management mode, and not analysis mode. That way it doesn't matter what anyone thinks. That's how I do it. 3 modes: analysis, entry, management....
Thanks for tips... My target got hit but it moved up ... just alittle though ...

Ok, I am out with mere 6 pips just one, although I did get out one position with just a little pip too much earlier .. too nerving watching the screen ...
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  • #159,369
  • Nov 6, 2009 2:22am Nov 6, 2009 2:22am
Trend intact or broken in hourly. Next bar will decide.
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  • #159,370
  • Nov 6, 2009 2:37am Nov 6, 2009 2:37am
As we can see, EURUSD trend for this week keep rising/hiking continously. But for sure, as we know, when the value of the currencies was on its top, should be it will reverse its position , at least for 1-2 hours.

As I wish now, I love if EURUSD to downturn to its position as last week, as now I've gain losses much from my floating post.

Would somebody give me some guidance/opinion?
  • #159,371
  • Nov 6, 2009 2:39am Nov 6, 2009 2:39am
Quoting Atlast
Trend intact or broken in hourly. Next bar will decide.
I have one silly question here.

Is it possible that the sideway movement breaking the support-trend-line maybe because of traders remaining flat before tomorrows major news? If tomorrow was not a major newsday, it probably had continued its uptrend if it wanted to. I think close of next candle will again be in this uncertain (or unusual) situation.

I am not sure if it is ok to treat the chart pattern independent of activity volume or one should read chart differently in normal and extraordinary situations.

Any experience/thought sharing on this will be highly appreciated.
The Thief of Wall Street
  • #159,372
  • Nov 6, 2009 2:40am Nov 6, 2009 2:40am
tgt is 1.4925 resistance at r1..
everything is green go ahead long.. on the 15m.
would expect some volatility to start creeping in leading up to the US unemployment data release...
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  • #159,373
  • Nov 6, 2009 2:49am Nov 6, 2009 2:49am
Quoting Jasper
Just gone long at 1.4874.

Any thoughts??
My thoughts now is that it was a good entry!

Good luck to you all.
Good Trading. (keep it simple).
  • #159,374
  • Nov 6, 2009 3:03am Nov 6, 2009 3:03am
Quoting Chicky
I have one silly question here.

Is it possible that the sideway movement breaking the support-trend-line maybe because of traders remaining flat before tomorrows major news? If tomorrow was not a major newsday, it probably had continued its uptrend if it wanted to. I think close of next candle will again be in this uncertain (or unusual) situation.

I am not sure if it is ok to treat the chart pattern independent of activity volume or one should read chart differently in normal and extraordinary situations.

Any experience/thought sharing on...
I read charts irrrespective of the news, but look to other markets to clarify situation, eg. Dollar index, or Dow or Oil. The chart I posted has almost given me an entry. This for me is a high probability trade to sell the market on this current bar. The retest of the trendline on this hour is what I have been waiting for.
  • #159,375
  • Nov 6, 2009 3:11am Nov 6, 2009 3:11am
Quoting Chicky
I have one silly question here.

Is it possible that the sideway movement breaking the support-trend-line maybe because of traders remaining flat before tomorrows major news? If tomorrow was not a major newsday, it probably had continued its uptrend if it wanted to. I think close of next candle will again be in this uncertain (or unusual) situation.

I am not sure if it is ok to treat the chart pattern independent of activity volume or one should read chart differently in normal and extraordinary situations.

Any experience/thought sharing on...

This PA is not a convincing break of anything, imo. You are correct in saying it is just consolidation.

It is more of an invalidation of the TL. It does not suggest a reversal, imho.
"Timing Is Everything. Really I Swear It Is"
  • #159,376
  • Nov 6, 2009 3:19am Nov 6, 2009 3:19am
Quoting TexasforEX
This PA is not a convincing break of anything, imo. You are correct in saying it is just consolidation.
We just need a close above 1.4916 at the end of the today ... and the way to 1.52 will be cleared ... It is proving to be an evasive number but am still very bullish ..
"I am convinced that He (God) does not play dice." - Albert Einstein
  • #159,377
  • Nov 6, 2009 3:21am Nov 6, 2009 3:21am
Prelim Unemployment numbers Wed gave us strong US Results....me thinks
Friday's NFP numbers will do nothing more than boost USD some more......

Therefore, bias is BEARISH on EURUSD....

+988 pips in profit for Nov 09 thus far.....

In Charts We Trust!
  • #159,378
  • Nov 6, 2009 3:23am Nov 6, 2009 3:23am
Quoting TexasforEX
This PA is not a convincing break of anything, imo. You are correct in saying it is just consolidation.

It is more of an invalidation of the TL. It does not suggest a reversal, imho.

On a daily price again bounced off 55 EMA(goldenrod line) @ around 1.4640, now we`ve been in masive consolidation triangle(posted yesterday) but could break out up the north after NFP, we may see today 1.50xx again IMO
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Do not follow the path trodden by human laziness.
  • #159,379
  • Nov 6, 2009 3:30am Nov 6, 2009 3:30am
Quoting Atlast
I read charts irrrespective of the news, but look to other markets to clarify situation, eg. Dollar index, or Dow or Oil. The chart I posted has almost given me an entry. This for me is a high probability trade to sell the market on this current bar. The retest of the trendline on this hour is what I have been waiting for.
You are the second experienced trader who advised this to me in the last one week. I see a lot of logic in reading charts irrespective of the news.

Looking at other markets for clarification is a very valuable suggestion. Thanks Atlast.
The Thief of Wall Street
  • #159,380
  • Nov 6, 2009 3:43am Nov 6, 2009 3:43am
Quoting X.Oden
Prelim Unemployment numbers Wed gave us strong US Results....me thinks
Friday's NFP numbers will do nothing more than boost USD some more......

Therefore, bias is BEARISH on EURUSD....

+988 pips in profit for Nov 09 thus far.....

You are short by 12 pips, but good decision to stop at x88 things normally take a turn at this level.
The Thief of Wall Street
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