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  • #170,641
  • Dec 10, 2009 10:03am Dec 10, 2009 10:03am
Quoting surya2k
Feeling very bad, when EUR/USD was playing around 1.50 plus..every so called analysts and FX traders were saying that EUR will reach 1.55 then heading towards 1.60. And, in future EUR will go up ONLY. But, now they are just telling opposite this.

Simply I don't understand when S&P is up, Gold is trading +ve, there are good news from Dubai market, good news from US weekly job loss (adding 17000 more job losses claim in this week), despite of all that.. EUR is falling free fall.

No idea where it is going to stop. Sad is I am holding 12 long positions...

It's trading between heaven and hell ! I think it is true actually (in abstract way)
  • #170,642
  • Dec 10, 2009 10:05am Dec 10, 2009 10:05am
Quoting surya2k
Feeling very bad, when EUR/USD was playing around 1.50 plus..every so called analysts and FX traders were saying that EUR will reach 1.55 then heading towards 1.60. And, in future EUR will go up ONLY. But, now they are just telling opposite this.

Simply I don't understand when S&P is up, Gold is trading +ve, there are good news from Dubai market, good news from US weekly job loss (adding 17000 more job losses claim in this week), despite of all that.. EUR is falling free fall.

No idea where it is going to stop. Sad is I am holding 12 long positions...
Dude, I feel bad for you...I really do. I have been there. I do not know what system had you have 12 positions long above 1.50, but it is not one I would use. Don't be long near the top or short near the bottom---only on breakouts. I do believe we will have a move back up... unknown if we will make a new swing high or a double top. Only time will tell. You may well have to endure some more draw down before that. If you would be uncomfortable @4600, then I would think about unloading some longs on another bounce. Good luck!
  • #170,643
  • Dec 10, 2009 10:07am Dec 10, 2009 10:07am
could see a another test of 700 or even 680 here if this sustains... slight downward trendline forming on lower tf and preventing it from recovering
  • #170,644
  • Dec 10, 2009 10:10am Dec 10, 2009 10:10am
For swing traders, I think we can safely say going long is the key here. To many daytraders here though..

Anyway, possible bounce up?


Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 23 KB
  • #170,645
  • Dec 10, 2009 10:12am Dec 10, 2009 10:12am
I don't think this move makes any sense either, but I won't add until we reach H1 TL, which looks to be about 1.4685. I think that will be the bottom, but if not I'm going to start scaling out of my longs at 1.4675 if we see it. My gut tells me to wait this out, but I'm leaving for Jamaica in a week and don't want any open positions. I'd rather have a stress-free vacation
  • #170,646
  • Dec 10, 2009 10:12am Dec 10, 2009 10:12am
Well guys,
when I see on USDCHF 10285-89, I'll go long on EURUSD with a relatively tight stop on this lot
The best thing that can happen to you is to find out where you're wrong.
  • #170,647
  • Dec 10, 2009 10:14am Dec 10, 2009 10:14am
This Yo-Yo EU pair making me sick.
Normally i make 40-50pips minimum everyday.
But I just made 2 pips yesterday and today only 1 pip.
I am totally mad because when i closed them both trades went 30-40 pips positive. A bit hesitation crawling on my head so i closed them
You cannot learn better without losing
  • #170,648
  • Dec 10, 2009 10:14am Dec 10, 2009 10:14am
Quoting surya2k
Feeling very bad, when EUR/USD was playing around 1.50 plus..every so called analysts and FX traders were saying that EUR will reach 1.55 then heading towards 1.60. And, in future EUR will go up ONLY. But, now they are just telling opposite this.

Simply I don't understand when S&P is up, Gold is trading +ve, there are good news from Dubai market, good news from US weekly job loss (adding 17000 more job losses claim in this week), despite of all that.. EUR is falling free fall.

No idea where it is going to stop. Sad is I am holding 12 long positions...

Do you mean you've sold the equivalent of 1.200.000 $ ??
The best thing that can happen to you is to find out where you're wrong.
  • #170,649
  • Dec 10, 2009 10:16am Dec 10, 2009 10:16am
Any close below 1.47 will take us down to 1.46 area and I would't be surprised if we spike lower to 1.451 area
  • #170,650
  • Dec 10, 2009 10:17am Dec 10, 2009 10:17am
it's all speculation... and thats why I hate it...

but there are money that's why I like it... and also assumptions

but... thats' only speculation, lets see everything was ok till...usa unemployment up (could be differently interpretate, as long and short) after that was S&P rating (for money?) and than information about greece... dont tell me that greece was about to go bancrupt in one day nad they didn't know anything... the same with spain... why they announce this rating right now, when we are at the bottom? not in the middle at 1,49 (no to scary away naive buyers?) and now is culmination of bad news... or maybe there is one more... but it won't go below 1,46 i'm almost sure, because it would break weakly support and nobody would buy eur, and USA would become poor due to the strong $

any comments?
  • #170,651
  • Dec 10, 2009 10:18am Dec 10, 2009 10:18am
yeah, this temp downtrend screwed up my plans to travel around the world for six months. working the scalps and waiting impatiently for my longs to shoot up.

Quoting jiva34
nothing to really drive the mkt?
US holiday season, lots of people (with money) probably already headed for Bermuda, Dominican Republic, the Caymans, etc... the Caribbean tours..etc, see you in January...
Greece and Spain dropping off the financial landscape
World economies not necessarily getting any worse, but are they really getting any better?
etc, etc.
hence. stalled...
nothing to really the drive the mkt..
Like this until January???
Unless some SURPRISE news...
  • #170,652
  • Dec 10, 2009 10:21am Dec 10, 2009 10:21am
1.50 might be stretching....what happened to your mental stop loss?
Quoting surya2k
Feeling very bad, when EUR/USD was playing around 1.50 plus..every so called analysts and FX traders were saying that EUR will reach 1.55 then heading towards 1.60. And, in future EUR will go up ONLY. But, now they are just telling opposite this.

Simply I don't understand when S&P is up, Gold is trading +ve, there are good news from Dubai market, good news from US weekly job loss (adding 17000 more job losses claim in this week), despite of all that.. EUR is falling free fall.

No idea where it is going to stop. Sad is I am holding 12 long...
  • #170,653
  • Dec 10, 2009 10:21am Dec 10, 2009 10:21am
One of my systems is a divergence based one that is over 80% accurate, but doesn't generate many trading signals. It's screaming buy, but then again my other systems went from an average of 67% accurate to 40% over the past week.
  • #170,654
  • Dec 10, 2009 10:24am Dec 10, 2009 10:24am
Quoting Protogenos
One of my systems is a divergence based one that is over 80% accurate, but doesn't generate many trading signals. It's screaming buy, but then again my other systems went from an average of 67% accurate to 40% over the past week.

really hope ur system is giving the right signal. i have a few long position as well waiting to close
  • #170,655
  • Dec 10, 2009 10:26am Dec 10, 2009 10:26am
eu goin fly soon....target 1.48078
  • #170,656
  • Dec 10, 2009 10:27am Dec 10, 2009 10:27am
Quoting FX-Petra
Dude, I feel bad for you...I really do. I have been there. I do not know what system had you have 12 positions long above 1.50, but it is not one I would use. Don't be long near the top or short near the bottom---only on breakouts. I do believe we will have a move back up... unknown if we will make a new swing high or a double top. Only time will tell. You may well have to endure some more draw down before that. If you would be uncomfortable @4600, then I would think about unloading some longs on another bounce. Good luck!
Thanks FX-Petra. Yes, it was wrong decision which made at very wrong time. But, out of 12 there are 6 at 1.501, and 3 are below 1.490 and 3 are 1.4716. So, I am hoping once it will reach 1.486 or so, need to make out average and close most of the higher positions.

but, only hoping that next week onwards EUR will go up. I was happy till last friday when I was sitting a profit of 250% of my capital in 1 month of time, but now it is showing unrealized loss of 60% of my profit. Let's hope for better tomorrow. As, I only hope during Asian market can find some up trend for EUR.

Good nite, as here in Singapore it is 1 am, need to get up by 6 am to prepare for office. All the best you guys.
  • #170,657
  • Dec 10, 2009 10:27am Dec 10, 2009 10:27am
i won't be surprised if we spike towards 4900.
Quoting vinesh2
Any close below 1.47 will take us down to 1.46 area and I would't be surprised if we spike lower to 1.451 area
  • #170,658
  • Dec 10, 2009 10:27am Dec 10, 2009 10:27am
Quoting surya2k
Feeling very bad, when EUR/USD was playing around 1.50 plus..every so called analysts and FX traders were saying that EUR will reach 1.55 then heading towards 1.60. And, in future EUR will go up ONLY. But, now they are just telling opposite this.

Simply I don't understand when S&P is up, Gold is trading +ve, there are good news from Dubai market, good news from US weekly job loss (adding 17000 more job losses claim in this week), despite of all that.. EUR is falling free fall.

No idea where it is going to stop. Sad is I am holding 12 long positions...


Do not listen to what those people say, learn how to read your charts for High Time frames, if you do not know how to read them, so do not trade like that.
I believe in miracles, but I also believed some years ago and yet I lost my account.

Now you must hope that those people are wrong again and price start to go up, but be careful because some times they only lie once.
  • #170,659
  • Dec 10, 2009 10:29am Dec 10, 2009 10:29am
i view news like my wife's cheap gossip mags... bunch of chickens with their heads chopped off.
Quoting BoredToLoose


Do not listen to what those people say, learn how to read your charts for High Time frames, if you do not know how to read them, so do not trade like that.
I believe in miracles, but I also believed some years ago and yet I lost my account.

Now you must hope that those people are wrong again and price start go go up, but be careful because some times they only lie once.
  • #170,660
  • Dec 10, 2009 10:32am Dec 10, 2009 10:32am
not a hater, but i have contempt for all news reporters. they're so useless.
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