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  • #202,881
  • Feb 25, 2010 2:47pm Feb 25, 2010 2:47pm
Quoting DMA Trader
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.


quick look at my daily, id say that if eur/aud can sustain a rally might be looking at 5671....
  • #202,882
  • Feb 25, 2010 2:48pm Feb 25, 2010 2:48pm
Quoting cacus
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...
1.3625 is next top. we are at resistance now 1.3563.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #202,883
  • Feb 25, 2010 2:49pm Feb 25, 2010 2:49pm
I've been short since 1.3497 and I still see it going down from where we are at right now (1.3555)...Where would be a good place to put in another short for the ride down or should I just wait for it to get back to break even...
  • #202,884
  • Feb 25, 2010 2:49pm Feb 25, 2010 2:49pm
Quoting england33
1.3625 is next top. we are at resistance now 1.3563.
Great, i'll keep that in mind. Thanks
  • #202,885
  • Feb 25, 2010 2:51pm Feb 25, 2010 2:51pm
Quoting Kambooj
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.
Good point. But the thing that concerns me is if the daily bar closes at the current level, (above 3540), we will have a strongly bullish pin bar. Yesterdays bar was bearish. Just proves the strong resistance below 1.35
  • #202,886
  • Feb 25, 2010 2:53pm Feb 25, 2010 2:53pm
now's a good time to look at those ma's. also note i have support at 1.3511 which has to be eclipsed for downtrend to continue. Don't ask me how I arrived at these figures (I look at the moon lol).
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #202,887
  • Feb 25, 2010 2:55pm Feb 25, 2010 2:55pm
Each attempts of going higher are meet with sellers
I don't eve know if we'll reach 1.3600 yet
But if we do reaches it...i'll be there to short it
COT: The precious data ignored
  • #202,888
  • Feb 25, 2010 2:55pm Feb 25, 2010 2:55pm
Quoting mfoste1
quick look at my daily, id say that if eur/aud can sustain a rally might be looking at 5671....
1.549 former support (20 january). might be tested and act like resistance first.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #202,889
  • Feb 25, 2010 2:56pm Feb 25, 2010 2:56pm
I'm short at .356. Planning on scaling shorts in at .36ish and .364ish if it keeps moving up. Has had quite a move up and I'm expecting it to retest .347ish area.

Quoting petehnm
I've been short since 1.3497 and I still see it going down from where we are at right now (1.3555)...Where would be a good place to put in another short for the ride down or should I just wait for it to get back to break even...
  • #202,890
  • Feb 25, 2010 2:58pm Feb 25, 2010 2:58pm
Quoting england33
now's a good time to look at those ma's. also note i have support at 1.3511 which has to be eclipsed for downtrend to continue. Don't ask me how I arrived at these figures (I look at the moon lol).
thank you for the heads up England.
  • #202,891
  • Feb 25, 2010 2:58pm Feb 25, 2010 2:58pm
Quoting Kambooj
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.
BRAVO
  • #202,892
  • Feb 25, 2010 2:58pm Feb 25, 2010 2:58pm
You mean "bull trap" ?
COT: The precious data ignored
  • #202,893
  • Feb 25, 2010 3:04pm Feb 25, 2010 3:04pm
the retrace in euro and dow is just preparation for the big drop after the awaited greece debt downgrade news come in before london session
  • #202,894
  • Feb 25, 2010 3:05pm Feb 25, 2010 3:05pm
would you like to know the time
  • #202,895
  • Feb 25, 2010 3:06pm Feb 25, 2010 3:06pm
just got confirmation....ill be adding longs at 3521
  • #202,896
  • Feb 25, 2010 3:07pm Feb 25, 2010 3:07pm
Quoting mfoste1
just got confirmation....ill be adding longs at 3521
What confirmation?
If you're not part of the solution then you're part of the problem.
  • #202,897
  • Feb 25, 2010 3:08pm Feb 25, 2010 3:08pm
Quoting kuroro001
You mean "bull trap" ?
Yup lol thanks... watch the yen
  • #202,898
  • Feb 25, 2010 3:09pm Feb 25, 2010 3:09pm
Here's one I've had on the daily w/ MA's...

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  • #202,899
  • Feb 25, 2010 3:11pm Feb 25, 2010 3:11pm
Swing 1.3690 - 1.3450 = 240 -> / 2 = 120 pips

-> 1.3450 + 120 = 1.3570 (critical upside), 120/2 = 60
-> 1.3570 - 60 = 1.3510 (critical downside)

-> 1.3570 + 60 = 1.3630 = near upper trendline of declining channel.

almost in the middle of fib 50% and 61.8% of last swing on daily chart.

New low not done...
They think they are smarter than I am.
  • #202,900
  • Feb 25, 2010 3:12pm Feb 25, 2010 3:12pm
Quoting petehnm
I've been short since 1.3497 and I still see it going down from where we are at right now (1.3555)...Where would be a good place to put in another short for the ride down or should I just wait for it to get back to break even...
well if you still believe in this downtrend.
i would look to some areas like

here.
1.359-.136.
also keep an eye on H4 chart
but don't forget MM

if downtrend resumes and take out lows. you will get the money back even if you don;t add to position. if you don't know how. you might get burned if you add too much or too fast.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
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