EURUSD

I think that by the end of the session, the USDCHF will drop to 797

will leave sp trade open until sl or tp is hit its a very small trade anyway I cant read the market at the moment so will go the pub have a beer maybe after that I can read it again (just joking) take care and good trading.

"The Dow futures collapsed," after the Fed hiked its emergency rate, said David Jones, chief market strategist at IG Markets in London."They dropped 70 points in five minutes. So it's really fallout from that."triggered worries about tighter credit.

Very well said..
There is no such thing here as listening to right or wrong people because there are none. whats right today is wrong tomorrow as example.
when the rubber hits the road it all has to come down to your own chart and if you do not have almost unmoving faith in that well you should not be trading Forex. You want to know the quickest way to blow your account. Start trading by what people say here. Now you can and I say almost should take the knowledge here and log it and use it but if your looking for market signals here your halfway out the door already.
Dean

Good morning everyone,

Price has just hit .3500. Things should get interesting from here.

Good luck!

moving SL to 1.3530...

exactly. take hint - think about - agree/disagree - take action - lock target. that's what this thread is supposed to be, a well of inspiration to think, not follow.

on the wire in spain Usa is to blame for Greeces problems to make euro lower

S&R

I thank you $ very much again for the wonderful 40 PIPS.
Total today 130 PIPS, (not that anyone of you cares)

I'm done for today.

Lovely weekend to all.

Yesterday we saw a hugge unexpected dip from 3620 region that caught everybody off guard. Earlier I posted something mentioning that the drop from 3790 is a 3 sectional piece missing the third piece:
http://www.forexfactory.com/showpost...stcount=198352
As we can see there was a third piece and I should have judged it by looking at the H4 chart, not at the lower time frames, My Mistake on lack of patience. Situation was "so so" for a buy (I made 50 pips) and very confusing for a sell.

After the dip My assessment is as follows:

As far as a triangle is concerned we dont have that situation anymore, we had some caution going on in that zone (http://www.forexfactory.com/showpost...stcount=198345), but it was necessary to just pull back off trading in these situation. What we have from the drop at 4031 is probably part of zigzag or a impulse pattern with Wave 1 being from 4031-3586

Looking at the daily chart, I dont see any support areas until around 2700-3000 area, which has numerous support zones. From a trendline perspective I see this sharp drop continuing further as I have mentioned previously (http://www.forexfactory.com/showpost...stcount=191904) and in the attached daily chart. What I can conclude by the way the fibonacci price extensions have been breached:

1.618 of 5145-4213 = 3636 (breached very little bounce upwards)
1.764 of 5145-4213 = 3500 (worst than a little bounce )

Is that we are dealing with a super extended wave. This (the drop from 5145) will turn out to be either a extended zigzag (3 sectional move) or a 5 sectional (1,2,3,4,5) move with the third section starting from 4578. This third section will end up at the 2.618 fibonacci price extension of 5145-4213 that is 2705. The movement further down will enter a territory that I have mentioned as "Black Hole Zone". What I mean by that is that it will enter a zone where everything will get pushed down further quickly like a ship caught in the middle of a whirl. Looking at the 8 hour chart, I estimate that the area of 2700-3000 will be reached in 0.618 or .5 the time that it has taken for the rise from 2500-5145. So we are out of the corrective zone that I have mentioned before in a earlier post:

http://www.forexfactory.com/showpost...stcount=197203

Given this assessment on the daily chart and H8 chart I dont see a lot of movement up beyond the blue line on the H4 chart. Maybe some agitation there, but right now I see a low probability of moving towards the red trendlines. The lines of motion are the ones shown on the H4 chart, motion will glide down from one trendline to the other very quickly as it enters the black hole zone. So my strategy at this time is to go for another sell at the area of the blue line. I have to go to the lower time frames to find exact spot. So we can get back again and put our Shorts and continue to sell the EUR. I think right now a very large reversal is too much to expect. If you want to play it safe, wait 24 hours till you see whether the red line will be reached or not.

Hope that helps.

long GU tp 1.5525
long EU tp 1.3550

short gold tp=1107-1101 then 1096 then 1078
short UJ tp =91.50 then 90.30 then 88.80 then 86.50

good luck guys

I'll be first to jump on the hairy greenback and ride into the ground, when

those bulls start running for the exit.

For now it's just what it is.. And if EUR is falling then why is the f*

Cable dropping, - absurd?

Today not much EU can do Markets are down It's like

watching where the DOW is and EU just following the PA

very closely..

hmmmz... interesting...

out es at yesterday point of control 1099.25 ,,, do not love action
eu on that 1.3490 support .... keeping close eye on it

eu shorts doing well . checking charts & comparing eu & gold , eu seems in c wave extension continues even much turmoils recently and slope becoming less flat but gold can't explain ,may be in 4 wave or x near cpomplete .
what others think about ?
fontu

Disagree. It's very important to have a "mentor" or two that you can learn from in order to develop your own skills. Not saying a forum is the best place tough...

gold seems to have sell interest in 1115 zone ...

but not a whole bunch of interest in markets one way or the other today so far

oh that İs a interesting chart idea..but is there a trader follows such chart...if yes we will hold now here on 13490