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  • #202,861
  • Feb 25, 2010 1:52pm Feb 25, 2010 1:52pm
Quoting realjumper
It's interesting that in these current consolidation times, several things happen.

People make money by either going long or by going short.

Some people make money both ways.

Some people decimate their accounts

Some traders just sit out the whole affair until a trend resumes/establishes.

Some people get bitchy at other traders, and some try to help.

I don't know, and I suggest that no one else knows, which way this thing will go, but what I'm pretty sure of is that there is no room for arrogance and condescending attitudes here.....that...
Here's a little humility from me...I lost about 200 pips last night when I woke up this morning. I use MM so I'm okay but it was a big hit for me. I stuck w/ my shorts and got stopped out after on fresh trades that I had placed around 3500 level...
  • #202,862
  • Feb 25, 2010 1:53pm Feb 25, 2010 1:53pm
As long as the EUR remains in the channel shown by the black lines, we have a downtrend happening. If the channel breaks then 3700-3750 is a possibility.

The Triangle shown by the blue lines, has to still prove its authenticity by trying to break 3570. If 3570 doesnt get broken, then we dont have a triangle scenario here, and we should see more down.

For now on the daily time frame we are still bearish.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.GIF Size: 16 KB
  • #202,863
  • Feb 25, 2010 1:56pm Feb 25, 2010 1:56pm
Quoting SirMcPip
Long EURUSD @ 1,3550.
Stop 1,3300.
Target 1,5000.

A huge distribution rally is ahead in the Euro as the European States prepare for the reintroduction of national currencies. Not a conspiracy theory, friends...just in case someone gets tempted to think that way. Remember the circus when the Euro was touted the new reserve currency ? The Chinese knew better, they will be paid handsomely. Cheers!
1,5...??? are you serious...??? Well you probably have your reasons..., good luck man...! that is a really really bold move...!!!
  • #202,864
  • Feb 25, 2010 2:00pm Feb 25, 2010 2:00pm
Quoting uraceulose
Here's a little humility from me...I lost about 200 pips last night when I woke up this morning. I use MM so I'm okay but it was a big hit for me. I stuck w/ my shorts and got stopped out after on fresh trades that I had placed around 3500 level...
Sorry to hear that, I know what it's like to wake up to a loss...it really sucks. As you say though, it doesn't hurt quite so much when you employ good MM. Ranging PA is something that I try to stay away from because I'm no good at trading it. Perhaps if I was awake during the best times for action, which is about 4am - 7am my time, I could scalp a bit here and there...but we can only do what we can only do!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #202,865
  • Edited 2:17pm Feb 25, 2010 2:01pm | Edited 2:17pm
Quoting mfoste1
dont be surprised to see a further spike downward towards 3453, thats not out of play yet. targets for profit taking are on chart, however ill add lots on the way up. who knows where it will end, but just a quick glance off my charts id say 4000 would cap any wild rally if there was one, then a large fall back down again



hit my last entry to the pip 3453....this next daily bar needs to close above S1, 3521 to sustain rally to 3647....otherwise down to big support at 3404
Attached Image (click to enlarge)
Click to Enlarge Name: eufeb246hr.jpg Size: 166 KB
  • #202,866
  • Feb 25, 2010 2:02pm Feb 25, 2010 2:02pm
You can try all the longs you want....it's always risky right now
I sleep better when i short than when i long

Now i can't wait a rating agencies to downgrade another European country....tomorow is the last day of the month...sounds a good opportunity to do it
Then go long for the new month
COT: The precious data ignored
  • #202,867
  • Feb 25, 2010 2:03pm Feb 25, 2010 2:03pm
Quoting realjumper
Sorry to hear that, I know what it's like to wake up to a loss...it really sucks. As you say though, it doesn't hurt quite so much when you employ good MM. Ranging PA is something that I try to stay away from because I'm no good at trading it. Perhaps if I was awake during the best times for action, which is about 4am - 7am my time, I could scalp a bit here and there...but we can only do what we can only do!!
thx man. Yeah it does suck, just give back a few days work cause I was "so sure"...I'm not good with ranging either, a lot better at picking a zone and waiting but it just takes patience
  • #202,868
  • Feb 25, 2010 2:05pm Feb 25, 2010 2:05pm
Quoting realjumper
It's interesting that in these current consolidation times, several things happen.

People make money by either going long or by going short.

Some people make money both ways.

Some people decimate their accounts

Some traders just sit out the whole affair until a trend resumes/establishes.

Some people get bitchy at other traders, and some try to help.

I don't know, and I suggest that no one else knows, which way this thing will go, but what I'm pretty sure of is that there is no room for arrogance and condescending attitudes here.....that...
That's the spirit man... Respect and humility should be the base of this thread, as it use to be a couple o months ago.
  • #202,869
  • Feb 25, 2010 2:06pm Feb 25, 2010 2:06pm
Quoting SirMcPip
Long EURUSD @ 1,3550.
Stop 1,3300.
Target 1,5000.

A huge distribution rally is ahead in the Euro as the European States prepare for the reintroduction of national currencies. Not a conspiracy theory, friends...just in case someone gets tempted to think that way. Remember the circus when the Euro was touted the new reserve currency ? The Chinese knew better, they will be paid handsomely. Cheers!
I would love this to happen :-)

Kannst Du mir näheres sagen? per pm? Wohne übrigens nicht weit weg - im Hochtaunus :-)

Cheers,

4rexlady
  • #202,870
  • Feb 25, 2010 2:15pm Feb 25, 2010 2:15pm
Right now I'm seeing bearish harmonic patterns on every TF, bounce off the daily pivot line, bounce of the regression on each TF...I'm short
  • #202,871
  • Feb 25, 2010 2:21pm Feb 25, 2010 2:21pm
Quoting SirMcPip
Long EURUSD @ 1,3550.
Stop 1,3300.
Target 1,5000.

A huge distribution rally is ahead in the Euro as the European States prepare for the reintroduction of national currencies. Not a conspiracy theory, friends...just in case someone gets tempted to think that way. Remember the circus when the Euro was touted the new reserve currency ? The Chinese knew better, they will be paid handsomely. Cheers!
I find this statement to be ambiguous. Maybe it's because English is my first language..
  • #202,872
  • Feb 25, 2010 2:25pm Feb 25, 2010 2:25pm
I guess its time for a bottle neck... sideways action. Scalpers on deck... Good night.
Make money or go broke... its the Forex way.
  • #202,873
  • Feb 25, 2010 2:26pm Feb 25, 2010 2:26pm
Quoting Kramerica
I find this statement to be ambiguous. Maybe it's because English is my first language..
Could you maybe explain what´s so ambigous about it?
  • #202,874
  • Feb 25, 2010 2:35pm Feb 25, 2010 2:35pm
Quoting SirMcPip
Long EURUSD @ 1,3550.
Stop 1,3300.
Target 1,5000.

A huge distribution rally is ahead in the Euro as the European States prepare for the reintroduction of national currencies. Not a conspiracy theory, friends...just in case someone gets tempted to think that way. Remember the circus when the Euro was touted the new reserve currency ? The Chinese knew better, they will be paid handsomely. Cheers!
1. If national currencies are coming, why would the Euro Advance?
2. If the Chinese knew better and the Euro is NOT the new reserve, why is it going to advance to 1.50
3. How will the Chinese be paid handsomely if they "knew better" and the Euro is/will be the new reserve currency and it's goint to 1.50 ?

alles ist klar??
  • #202,875
  • Feb 25, 2010 2:39pm Feb 25, 2010 2:39pm
eur/aud longs are looking swell....i had a position earlier in the week but i already booked profits, im looking to re-enter according to these levels
Attached Image (click to enlarge)
Click to Enlarge Name: euaudfeb25.jpg Size: 162 KB
  • #202,876
  • Feb 25, 2010 2:41pm Feb 25, 2010 2:41pm
Ok, notice EURX on a strong resistance...
Now notice a long way down yet for USDX... but it's at the middle of the channel and theres a new TL there limiting it's fall...
Look at EURUSD almost at the resistance of the clouds at the top...
Nice oportunity to go short? i thought we could reach 1.3622 but well... that would be another good reentry point...
Gold is also at a high resistance point...
Attached Image (click to enlarge)
Click to Enlarge Name: view.jpg Size: 381 KB
  • #202,877
  • Feb 25, 2010 2:41pm Feb 25, 2010 2:41pm
From Bloomberg news: Germany's Daube says bankruptcy of a euro-region country or a nations exit from the bloc would spell the end of European monetary union, Carl Heinz, head of germany's debt agency, told a conference in London.

Ok guys, what can we do to help Greece go bankrupt and drop the euro? (in deep thought)
Any ideas?


I smell big shorts......
  • #202,878
  • Feb 25, 2010 2:43pm Feb 25, 2010 2:43pm
Quoting mfoste1
eur/aud longs are looking swell....i had a position earlier in the week but i already booked profits, im looking to re-enter according to these levels
yup. got that chart on my active charts.
that thing just made a new decade low last week.
looking to get back on 1.52 - near that area.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #202,879
  • Feb 25, 2010 2:46pm Feb 25, 2010 2:46pm
Quoting SirMcPip
Could you maybe explain what´s so ambigous about it?

He probably thinks in the same way like another guy who just posted...as this guy said: why would the Euro run up if national currencies are reintroduced? Shouldn´t that rather falter the Euro to zero?

In the case this scenario becomes true, wouldn´t the whole world try to get rid of the Euro ASAP ?

What would be the reason according to your statement to BUY the Euro heavily ?
  • #202,880
  • Feb 25, 2010 2:47pm Feb 25, 2010 2:47pm
if EUR doesn't loose momentum - SNB might give it a try.
I thought they were trying something today but nothing happen.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
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