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  • #175,941
  • Dec 28, 2009 9:07pm Dec 28, 2009 9:07pm
EUR-USD traded Monday on very light volume. UK and Canadian banks were closed and the range on the day was only 60 pips. With no Report/News coming out we had a very slow day.

1.4418 remains key resistance. If we are to move higher we will have to break above this level to the get buyers interested. Barring that we are still in a down trend. The daily stochastics which was extreemly over-sold has taken a breather and now has room to go down yet again. This week which is also a short trading week, with New Years falling on Friday, we will continue to have low trading volume.

For Tuesday the only notable report is at USD CB Consumer Confidence at 10:00 am ET, which should move the market.
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  • #175,942
  • Dec 28, 2009 9:33pm Dec 28, 2009 9:33pm
be careful shorts you coming into the buy zone
  • #175,943
  • Dec 28, 2009 9:42pm Dec 28, 2009 9:42pm
Quoting candlesticks
EUR-USD traded Monday on very light volume. UK and Canadian banks were closed and the range on the day was only 60 pips. With no Report/News coming out we had a very slow day.

1.4418 remains key resistance. If we are to move higher we will have to break above this level to the get buyers interested. Barring that we are still in a down trend. The daily stochastics which was extreemly over-sold has taken a breather and now has room to go down yet again. This week which is also a short trading week, with New Years falling on Friday, we will continue...
Hello,

I notice that you are using Stoch indicator. But people have told me that it is primitive and shows direction only when market has already moved far in some direction. I have been trying to think about it since quiet some time but still not sure about it. Can you help me on this please? or let me know if there is some other indicator better then Stoch.

Thanks
  • #175,944
  • Dec 28, 2009 9:59pm Dec 28, 2009 9:59pm
Looks like a potential bounce/break on Head n' Shoulder pattern. Short breakout triggers move towards 1.4260 as primary target. Neckline seen at around 1.4350
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  • #175,945
  • Dec 28, 2009 10:02pm Dec 28, 2009 10:02pm
hmm..so do u guys think now is a good time to short or long??
  • #175,946
  • Dec 28, 2009 10:03pm Dec 28, 2009 10:03pm
im buying eur-usd on 1.4338 sl 1.4322 (small lots) and 1.4282 sl 1.4262 (ill double the lots). I dont want to miss the transaction, thats why im doing this.

We should get in two weeks to 1.46-1.4780. i think we are going to test that uper trendline we had almost all year and then we are coming to 1.38-1.42, it should be a ranging between though before that. We need consolidation to see whats going on with this pair.

in contrast with eur-usd, we have usd-cad and i see major potential there. I already bought on 1.0432 sl 1.0380 with multiple targets 1.0480, 1.0530, 1.0560. Lets see what happens.

Good luck on your tradings!!
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File Type: xls ESTRATEGIA FOREX2010.xls   24 KB | 404 downloads
  • #175,947
  • Dec 28, 2009 10:25pm Dec 28, 2009 10:25pm
Quoting Jay Walker
Oh f@#k!

Is there going to be another episode of the Malcom VS Skyzer show? I got hot popcorn, Guinness and Glenfiddich.

No I gave up ...gold is going to 6000 per oz .. next week ....lol
Blogging daily now at www.volume.zone
  • #175,948
  • Dec 28, 2009 10:30pm Dec 28, 2009 10:30pm
long at 4357, nice divergence + price action support
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  • #175,949
  • Dec 28, 2009 10:35pm Dec 28, 2009 10:35pm
Quoting malcolmb14
No I gave up ...gold is going to 6000 per oz .. next week ....lol
I don't believe that it will. I hold gold, but one has to hold it for the right reasons.

If one buys it because it's going to $6000 and wants to flip it, it might come back to haunt you.

If one buys it to squirrel away some savings that almost keeps up with inflation, it's something to consider.

Either way Malcom, you do make some very valid points and I enjoy your analysis. Skyzer's too for that matter. It's educational AND entertaining.
Not all sins are created equal
  • #175,950
  • Dec 28, 2009 10:43pm Dec 28, 2009 10:43pm
keep it up malcolme its educational for sure and entertaining
  • #175,951
  • Dec 28, 2009 10:50pm Dec 28, 2009 10:50pm
I am short Usdcad at 1.048 and continue to hold it. My stop is currently at 1.0495 (down from 1.055).

1.041 is a very crucial level... attempted more than 3 times. We are close to taking it out. The price action is also telling me that CAD buyers are there to stay... when USD goes up, UC has come down and when USD goes down, UC has come down more.

Additionally with a lot of fundamental news like Russia diversifying into CAD and BOC themselves selling CAD as a global sustitute to the USD recently gives me enough reason to believe that we are headed sharply lower in UC.... I feel we are close to taking out 1.0410 AND head towards 1.02. Daily close below 1.041 I would be careful on longs.

Quoting Azinvg
im buying eur-usd on 1.4338 sl 1.4322 (small lots) and 1.4282 sl 1.4262 (ill double the lots). I dont want to miss the transaction, thats why im doing this.

We should get in two weeks to 1.46-1.4780. i think we are going to test that uper trendline we had almost all year and then we are coming to 1.38-1.42, it should be a ranging between though before that. We need consolidation to see whats going on with this pair.

in contrast with eur-usd, we have usd-cad and i see major potential there. I already bought on 1.0432 sl 1.0380 with multiple targets...
  • #175,952
  • Dec 28, 2009 11:09pm Dec 28, 2009 11:09pm
Quoting Jay Walker
I don't believe that it will. I hold gold, but one has to hold it for the right reasons.

If one buys it because it's going to $6000 and wants to flip it, it might come back to haunt you.

If one buys it to squirrel away some savings that almost keeps up with inflation, it's something to consider.

Either way Malcom, you do make some very valid points and I enjoy your analysis. Skyzer's too for that matter. It's educational AND entertaining.
lol I trade gold alot and am a very active futures trader. As long as the volatility is there I will trade it both long and short
Blogging daily now at www.volume.zone
  • #175,953
  • Dec 28, 2009 11:17pm Dec 28, 2009 11:17pm
Sh$t this is more than two hours old, am I too late?


Quoting Jay Walker
I got hot popcorn, Guinness and Glenfiddich.
  • #175,954
  • Dec 28, 2009 11:20pm Dec 28, 2009 11:20pm
Quoting cobraforex
Sh$t this is more than two hours old, am I too late?
Too late to be a pissant and a wanker? Pissant maybe, but it's never too late to be a wanker. I'm livin' proof or so some say...
FUBAR...
  • #175,955
  • Dec 28, 2009 11:23pm Dec 28, 2009 11:23pm
So you would suggest Guinness?

I'm still in vacation of FX and enjoy it, maybe back to trade in late january.

Quoting ak4x
Too late to be a pissant and a wanker? Pissant maybe, but it's never too late to be a wanker. I'm livin' proof or so some say...
  • #175,956
  • Dec 28, 2009 11:30pm Dec 28, 2009 11:30pm
Taking a break from EU, and for me, the EUR/CAD seems an easier read... 5150 and 4950 seem important levels to me to watch.
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  • #175,957
  • Dec 28, 2009 11:36pm Dec 28, 2009 11:36pm
Hello Cobra . I Just want to thank you very much for your system and all the work you have done for it ! Even better you didn't charge for this ,which has definitely helped me in my early trading career , Thank you very much and i hope your have a wonderful New years , Cheers mate
  • #175,958
  • Dec 28, 2009 11:39pm Dec 28, 2009 11:39pm
Quoting cobraforex
So you would suggest Guinness?
NO!!

Guinness is singular. Guinnii is plural. Me and Jay only suggest Guinnii.

Mid to late-ish Jan sounds just about right cob...
FUBAR...
  • #175,959
  • Dec 28, 2009 11:54pm Dec 28, 2009 11:54pm
Glad that it helped you.

I'm gonna take ak's guinnii suggestion and get back to my holyday cave.

Wish you all a wonderfull new year.

Quoting DavidValera
Hello Cobra . I Just want to thank you very much for your system and all the work you have done for it ! Even better you didn't charge for this ,which has definitely helped me in my early trading career , Thank you very much and i hope your have a wonderful New years , Cheers mate
  • #175,960
  • Dec 29, 2009 12:25am Dec 29, 2009 12:25am
Quoting ak4x
Anybody help me plzzz!!!


Long handlezz or short handlezz???


Plzzzz to help!!!


Sorry... I just couldn't stop myself.
He (Elghoz alias Carcoure) has been quietely lurking around lately by the name Ashkan. I think he has finally achieved Nirvana of trading ............or something.
The Thief of Wall Street
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