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EURUSD

  • #197,361
  • Feb 17, 2010 11:35am Feb 17, 2010 11:35am
Hello folks, I see there is a lot of debate about where we are headed next. Today is one of the few days that I too have absolutely no idea what will happen next, here's why.

We have been in a strong downtrend on the hourly chart since 1.46 (yes folks, 1000pips with no real retrace). What happened yesterday is the pair finally broke up out of this downtrend HOWEVER pa has returned to the breakout wall and it is currently being retested to determine whether it has become resistance or support. Given the gravity of today's news (FOMC) it is hard to say which direction we are headed. I am 100% neutral and flat and I highly recommend to all to do the same as the market could go either way here.

Here is the downtrend from 1.46 in its full glamor.

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Here is the current predicament zoomed in.

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Now remember guys, especially those of you who are new, sometimes the best trade is no trade at all.

Good pippin.
Different opinions highly valued, ignorant to slander.
  • #197,362
  • Feb 17, 2010 11:35am Feb 17, 2010 11:35am
Hi everyone! I hope everyone caught a big chunk of this bear meat, I sold last night at 3779 and my TP hit at 3600, just got up to see it...Feels good to make money while you sleep...
  • #197,363
  • Edited 2:23pm Feb 17, 2010 11:35am | Edited 2:23pm
Nice trade picked up 117 pips
  • #197,364
  • Feb 17, 2010 11:36am Feb 17, 2010 11:36am
Quoting Gld
i got 46 as a softtop for now and 73 as a hardtop.....does that coincide with your ass chart ? ....i seemed to have misplaced mine AGAIN !
since we didnt hit 3824 the pink line numbers are void. the smaller path are the green lines.. 3743 3637.. they seem to be working as s/r as soft tops
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those who can, do. those who cant, talk about those who can
  • #197,365
  • Feb 17, 2010 11:36am Feb 17, 2010 11:36am
hey, guys!

As some of you might now i have really been battling with my trading. Whenever this happens i take it as a blessing as i then have to step outside of my comfort zone look objectively at what i am doing and try to adjust my strategy suitably.

I usually only aim for 50pips per week. But since i stepped out of my comfort zone and started looking at my trading from a different angle i have been avg 50pips per day. My stop losses are smaller and im letting my profits run longer.

The trend is definately your friend. You just need to know when the trend has been developed or set for the day and this market is really for the picking.

I am pleased that the clouds have separated and i hope to make lots of pips this year!

Perserverance always helps!

Best of luck to anyone else!
  • #197,366
  • Feb 17, 2010 11:37am Feb 17, 2010 11:37am
Quoting psiholog
Hello folks, I see there is a lot of debate about where we are headed next. Today is one of the few days that I too have absolutely no idea what will happen next, here's why.

We have been in a strong downtrend on the hourly chart since 1.46 (yes folks, 1000pips with no real retrace). What happened yesterday is the pair finally broke up out of this downtrend HOWEVER pa has returned to the breakout wall and it is currently being retested to determine whether it has become resistance or support. Given the gravity of today's news (FOMC) it is hard...
That would be a resistance in my opinion...but anything is possible, I have my money on bears, with Greece talk on sideline and Italy possibly becoming new Greece, this will only go down in mid and long term...
4h is beautiful....
  • #197,367
  • Feb 17, 2010 11:39am Feb 17, 2010 11:39am
Details of steps 1, 2 and 3.

http://www.forexfactory.com/showpost...stcount=194425

Step 4 achived: Price retraced more than 61.8% (.3750/.3740 and above) and tried to test .3838 but could not reach it.

Step 5: We are already near to the end of this step, (M like formation)question is...will it behave the same way as it did on Nov. 17 and Jan 4? (white circle) and make ONLY 15 pip LL's than previous lows?.....If so, it might reach 1.3516 (lower white circle). This YO-YO motion (.3516 to .3838) can last for a week more and after that I will look for new highs(red circle).

Coke.
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  • #197,368
  • Feb 17, 2010 11:41am Feb 17, 2010 11:41am
Question for most experienced fellows: What should we be expecting from FOMC minutes in relation to EURUSD's PA??
Tks in advance!
  • #197,369
  • Feb 17, 2010 11:42am Feb 17, 2010 11:42am
Quoting FX-Petra
The meeting has already happened. Today's release is just the minutes of the meeting. The overnight rate has not changed, and Mr. Bernanke has said repeatedly that it is likley to stay low for an "extended period".

Regards
look
  • #197,370
  • Feb 17, 2010 11:43am Feb 17, 2010 11:43am
Quoting kilalik
That would be a resistance in my opinion...but anything is possible, I have my money on bears, with Greece talk on sideline and Italy possibly becoming new Greece, this will only go down in mid and long term...
4h is beautiful....
My bias fully agrees with you, however what the eyes see is entirely neutral. Until both the bias and the eyes are in full alignment, I am milking the Eur/Jpy short (shh don't tell anyone haha). Anyways, I see the Eur/Jpy going to possibly 122.50 (why mention it? because it is the Eur/Usd on steroids yet today the Eur/Usd is the leading pair ironically, the Eur/Jpy hasn't fully followed).
Different opinions highly valued, ignorant to slander.
  • #197,371
  • Feb 17, 2010 11:43am Feb 17, 2010 11:43am
Next major points that we will hit is 1.3480-90 area, then that will open up way yo 1.3000-30 area... after that we'll see...
  • #197,372
  • Feb 17, 2010 11:44am Feb 17, 2010 11:44am
Quoting gatorinla
since we didnt hit 3824 the pink line numbers are void. the smaller path are the green lines.. 3743 3637.. they seem to be working as s/r as soft tops
works for me....thanks man !
hang on to your bread......unless you want toast
  • #197,373
  • Feb 17, 2010 11:46am Feb 17, 2010 11:46am
careful at 1.3591, can be a double bottom formation on lower timeframe 15 mins
The market will deceive you. Make your own judgement.
  • #197,374
  • Feb 17, 2010 11:47am Feb 17, 2010 11:47am
on the other hand should this form a lower high on 15 mins, may mean retrace is coming next . . .
The market will deceive you. Make your own judgement.
  • #197,375
  • Feb 17, 2010 11:49am Feb 17, 2010 11:49am
Quoting maurofx
Question for most experienced fellows: What should we be expecting from FOMC minutes in relation to EURUSD's PA??
Tks in advance!
it may not matter what they say.. they may say dollar is gonna be worth a penny next week,, and usd may still rally after spike. but if its usd possitve.. i vote hyper if usd possitive
those who can, do. those who cant, talk about those who can
  • #197,376
  • Feb 17, 2010 11:52am Feb 17, 2010 11:52am
Quoting ZeroPip
I reentered short at 1.3630... and waiting the FOMC stating... price is very unstable now... and if you enter short donīt risk too much...
Moving SL at BE... target--open
... All good things come to those who wait...
  • #197,377
  • Feb 17, 2010 11:52am Feb 17, 2010 11:52am
Huh?
Already happened I thought?
Dean


Quoting gatorinla
it may not matter what they say.. they may say dollar is gonna be worth a penny next week,, and usd may still rally after spike. but if its usd possitve.. i vote hyper if usd possitive
  • #197,378
  • Feb 17, 2010 11:54am Feb 17, 2010 11:54am
Gold is pushing down again... be careful
... All good things come to those who wait...
  • #197,379
  • Feb 17, 2010 11:55am Feb 17, 2010 11:55am
Quoting Gld
works for me....thanks man !
purple is original with extentions. the red is the small predictive low red lines target area. yellow is a bigger tf predictive.. respect at 3542 or 3539 not a bad thing.. they are on bigger charts
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those who can, do. those who cant, talk about those who can
  • #197,380
  • Feb 17, 2010 11:56am Feb 17, 2010 11:56am
Just falling the sky effects , next sr to care 1.3581.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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