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  • #192,901
  • Feb 9, 2010 1:33pm Feb 9, 2010 1:33pm
The longterm trend is still down, intact. Yes, we are/will be moving kinda upward but thats weak. And in a wave format, as it showed twice today:

1.3650s -> 1.3600 -> 1.3850s -> 1.3750s

Anyone think upward move will be solid?
  • #192,902
  • Feb 9, 2010 1:34pm Feb 9, 2010 1:34pm
I appreciate what your trying to convey but you cannot make that comparison by just using a number of pips. It's the speed that it went up and went down that knock most off there SL. Most traders I know will keep adjusting the SL as the market moves how else are you going to do it unless your saying to have a 100 pip sl for a min? You can have 300 pip movement in a day no problem as long as you have a couple of mins to adjust..
randy



Quoting orange_trad
and the chart
One good turn gets most of the blankets.
  • #192,903
  • Feb 9, 2010 1:39pm Feb 9, 2010 1:39pm
...yet, but if this continues past 3850 I will certainly be considering it......
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #192,904
  • Feb 9, 2010 1:42pm Feb 9, 2010 1:42pm
This is totally cheating!
When usd broke the hourly trendline and renew the down trend that time someone spread the rumor to give some strength to euro. And euro set strong resistance at 3760 to prevent reaction.

Something suspicious.
Cheating. Hahaha
You cannot learn better without losing
  • #192,905
  • Feb 9, 2010 1:45pm Feb 9, 2010 1:45pm
Quoting Driver55
3800... 1. short

PS: EURJPY 123,59... 1.short

Ps2: usdchf 631.... 1.long
Thanks But i only went long Usd/Chf 646
Trade What You See and Not What You Think
  • #192,906
  • Feb 9, 2010 1:48pm Feb 9, 2010 1:48pm
Doubtful, imo. Unless they have another BS rumor to spike it up again.
Quoting fontu
May be if this is end of the upmove but not end without another try top & so not placing any today .
let it play first.
fontu
  • #192,907
  • Feb 9, 2010 1:50pm Feb 9, 2010 1:50pm
back from watching my kid play tennis - market hasnt calmed down yet so staying out...
  • #192,908
  • Feb 9, 2010 1:57pm Feb 9, 2010 1:57pm
the reason for this spike because of the greek finance minister. he proposed the new laws to be voted from the parliament in order to economic recovery. not because the eu will not bail out the country from the zone. this aint gonna happen
  • #192,909
  • Feb 9, 2010 2:02pm Feb 9, 2010 2:02pm
Quoting Fx Newbie
We have a strong 50 MA Resisitance on The 4 Hr TF we Should expect South
yeah and it similar to the value of the 200H ma on the hourly chart,so many eyes from both charts looking at the same data to take the same action.
For all buddies,You think if majority traders are looking at 1 time frame chart with same indicators..is this better to have the majority of the traders eyes having the same data which will make them to take the same action..is it better than the current situation (two opposite powers)

If there is a survey which get information from the majority of the FX traders to know which time frame chart and indicators they are using,I think this will lead to better result when we join the majority,so we can be with the storng wave every time.
  • #192,910
  • Feb 9, 2010 2:05pm Feb 9, 2010 2:05pm
Quoting Sempreviva
the reason for this spike because of the greek finance minister. he proposed the new laws to be voted from the parliament in order to economic recovery. not because the eu will not bail out the country from the zone. this aint gonna happen
That's good.
Now time to f**k euro again for its dare to pull back without any cause.

This crazy movement stopped me to take trade and lost couple of hours.
You cannot learn better without losing
  • #192,911
  • Feb 9, 2010 2:06pm Feb 9, 2010 2:06pm
Quoting randy1953
I appreciate what your trying to convey but you cannot make that comparison by just using a number of pips. It's the speed that it went up and went down that knock most off there SL. Most traders I know will keep adjusting the SL as the market moves how else are you going to do it unless your saying to have a 100 pip sl for a min? You can have 300 pip movement in a day no problem as long as you have a couple of mins to adjust..
randy
Huh? Once in a position it's very poor risk management to move the sl. You move the trailing stop, but never the sl. That shows how well you planned the trade before. And the speed wasn't "crazy" either. If this speed 'knocked anyone off their sl' then how these will protect themselves when it will move 400 pips in the same tf? Because it will. Soon.
  • #192,912
  • Edited 2:21pm Feb 9, 2010 2:09pm | Edited 2:21pm
Well i dented last weeks profits quite a bit today but i'm still short from 1.3790. We'll see how this continues as we hit 50 MA on 4H today and last time that happened in this downtrend we dropped another 400 pips.

If it crosses that, i'll think about longs.

(in the process of sorting out chart postings...)
  • #192,913
  • Feb 9, 2010 2:15pm Feb 9, 2010 2:15pm
Quoting SkyzerFX
Say what? Check my post count and go back to couch drinking Budweiser.
you hide under my sofa when euro falls.
  • #192,914
  • Feb 9, 2010 2:16pm Feb 9, 2010 2:16pm
Will the Eurozone institute an aggressive rate cutting policy to ease credit?
"If it was good enough for Gann, it's good enough for me..."
  • #192,915
  • Feb 9, 2010 2:22pm Feb 9, 2010 2:22pm
reality is prices have failed to converge in Euro area, unlike theUS states, you pay double for something in Ireland than in Germany, don't know how this can be considered a success.

Every monetary union in Europe has collapsed Scandinavian, Latin, so will emu it might not be now or even my lifetime but it will happen.
The countries that have experimented with monetary unions and seen them fail are also Euro sceptics, well i guess the french never learn.

by the way forgot to add, those monetary unions had currencies tied to gold or silver which makes things even more scary now.
  • #192,916
  • Feb 9, 2010 2:23pm Feb 9, 2010 2:23pm
Well if your talking 400 pips then you neeed to toss out the SL and better have a very good balance to cover the play..the speed was the factor but I will not debate this we all have opinions..
Randy

Quoting orange_trad
Huh? Once in a position it's very poor risk management to move the sl. You move the trailing stop, but never the sl. That shows how well you planned the trade before. And the speed wasn't "crazy" either. If this speed 'knocked anyone off their sl' then how these will protect themselves when it will move 400 pips in the same tf? Because it will. Soon.
One good turn gets most of the blankets.
  • #192,917
  • Feb 9, 2010 2:24pm Feb 9, 2010 2:24pm
Quoting FFBrian13
Will the Eurozone institute an aggressive rate cutting policy to ease credit?
Short answer, No..

ECB May Be Forced to Delay Exit Amid Greece Concern
  • #192,918
  • Feb 9, 2010 2:30pm Feb 9, 2010 2:30pm
It may wanna try to kiss .3838 once again.
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  • #192,919
  • Feb 9, 2010 2:32pm Feb 9, 2010 2:32pm
"Germany is considering loan guarantees to support Greece and other troubled countries in Europe" - Wall Street Journal
  • #192,920
  • Feb 9, 2010 2:57pm Feb 9, 2010 2:57pm
Quoting gammase1
Correction: your mum and dad's sofa....

haaaa....im off to play some ball cu gents later
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