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  • #204,801
  • Mar 2, 2010 8:33am Mar 2, 2010 8:33am
EURO-DOLLAR: Saw high prints around $1.3598 or so but "ran into a wall
of offers" ahead of $1.3600, one trader contends. That supply leading
others to conclude that perhaps some sovereign supply also emerged on
the bounce, the euro retreating to $1.3565 area of current trade. Trader
speculates that intra-day players may now be caught long on the break
above the overnight high, probably to put stops under $1.3550/40 area.

Provided by: Market News International
Trade on your own risk Plan your trade&trade your plan dont be a
  • #204,802
  • Mar 2, 2010 8:37am Mar 2, 2010 8:37am
Quoting d-Squared
From Forexlive:

"Traders note rumors that Ukraine is in technical default on its bonds. The Government collapsed overnight, so that may be a contributing factor, though I can say with certainty that I have no idea what is going on in Ukraine these days…
A default by Ukraine would hit western European banking giants disproportionately hard as they are heavily exposed to Eastern Europe. Like they don’t have enough on their plates already…"
If it was that real the pair should have tanked 100 pips at least....not the poor 20 pips...
COT: The precious data ignored
  • #204,803
  • Mar 2, 2010 8:39am Mar 2, 2010 8:39am
Quoting Xismal
What is your maximum drawdown when using it? i.e. Maximum stop loss (and maybe profit target) for scalping?

I am using the 5,2.0 setting. Results are mixed and chop kills me. Scalping with tight stop loss targets here. I trade off the 10 seconds chart but I confirm my trade with the 1 minute and 5 minutes chart.
ok my setting is 10 and 3.0 sl I used the line below the candles which comes up to a 20pip trailing sl round about. looking back at the drop to where we are now the sl will trigger at 3555, then wait for colour change candle and take trade again short side when candle closes. targets are none depending on my lines and if I have time to sit infront of pc all day sometimes I just leave it open.

edit: 5min chart only
Trade on your own risk Plan your trade&trade your plan dont be a
  • #204,804
  • Mar 2, 2010 8:40am Mar 2, 2010 8:40am
Financial Firms Receiving Widespread Subpoenas For Euro Shorting Collusion

http://www.zerohedge.com/article/rum...ting-collusion
  • #204,805
  • Mar 2, 2010 8:43am Mar 2, 2010 8:43am
Quoting Trading Cat
hi gator
I am not getting your question??
what candle? and guess I would share np hehehhee
#204870 ??
those who can, do. those who cant, talk about those who can
  • #204,806
  • Mar 2, 2010 8:44am Mar 2, 2010 8:44am
Overall on the daily time frame we are still bearish, but a probability of a spike up on that time frame remains high. On the H4 chart, there was expectancy that in the event of a downtrend continuing below 3440 level, then:

A behaviour of getting close to the red trendline and a gradual decent along that trendline be observed before going further down faster. This behaviour was the only behaviour that would confirm a structure pointing to more downwards motion.

Since this behaviour was not observed and a rather large bounce has occured from 3430, its better to hold off shorting the EUR. In order for the EUR/USD to penetrate the red trendline there are 2 behaviours that could be observed:

Either a bit more time has to pass between 3560-3620 region, which would result motion getting close to the red trendline and from there it goes upwards. In such a evenet we should see a flag formation

OR

We will see a strong spike to the 3650 region followed by a 23.6/38.2 retracement that will find support along the red trendline.

Considering the advancement of the EUR from 3430, Once the red trendline is reached, it would be very dangerous to short the EUR at that point simply because its a important trendline in the fact that motion has a tendency to fall on either side of it, and when a motion falls to one side of it then it wont come back to the other side until it goes higher up. So in that case the blue trendline will be the target.

Hope this helps
  • #204,807
  • Mar 2, 2010 8:45am Mar 2, 2010 8:45am
Quoting Xismal
What is your maximum drawdown when using it? i.e. Maximum stop loss (and maybe profit target) for scalping?

I am using the 5,2.0 setting. Results are mixed and chop kills me. Scalping with tight stop loss targets here. I trade off the 10 seconds chart but I confirm my trade with the 1 minute and 5 minutes chart.
just entered short according to the candles 3554 sl3586 tp 3529 and lower trade by supertrend indi (colin77)
Trade on your own risk Plan your trade&trade your plan dont be a
  • #204,808
  • Mar 2, 2010 8:46am Mar 2, 2010 8:46am
Overall on the daily time frame we are still bearish, but a probability of a spike up on that time frame remains high. On the H4 chart, there was expectancy that in the event of a downtrend continuing below 3440 level, then:

A behaviour of getting close to the red trendline and a gradual decent along that trendline be observed before going further down faster. This behaviour was the only behaviour that would confirm a structure pointing to more downwards motion.

Since this behaviour was not observed and a rather large bounce has occured from 3430, its better to hold off shorting the EUR. In order for the EUR/USD to penetrate the red trendline there are 2 behaviours that could be observed:

Either a bit more time has to pass between 3560-3620 region, which would result motion getting close to the red trendline and from there it goes upwards. In such a evenet we should see a flag formation

OR

We will see a strong spike to the 3650 region followed by a 23.6/38.2 retracement that will find support along the red trendline.

Considering the advancement of the EUR from 3430, Once the red trendline is reached, it would be very dangerous to short the EUR at that point simply because its a important trendline in the fact that motion has a tendency to fall on either side of it, and when a motion falls to one side of it then it wont come back to the other side until it goes higher up. So in that case the blue trendline will be the target.

Hope this helps
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.GIF Size: 13 KB
  • #204,809
  • Mar 2, 2010 8:46am Mar 2, 2010 8:46am
Quoting gatorinla
#204870 ??
ok no worries here u go :
#201977
Trade on your own risk Plan your trade&trade your plan dont be a
  • #204,810
  • Mar 2, 2010 8:46am Mar 2, 2010 8:46am
Quoting kuroro001
If it was that real the pair should have tanked 100 pips at least....not the poor 20 pips...
Why? Ukraine is small and not even in EUR Union.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #204,811
  • Mar 2, 2010 8:48am Mar 2, 2010 8:48am
Quoting Trading Cat
ok no worries here u go :
#201977
I'd play 10/2.0 settings on M5 and on H4 I even place 10/1.0

3.0 won't capture many moves.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #204,812
  • Mar 2, 2010 8:51am Mar 2, 2010 8:51am
Quoting SkyzerFX
I'd play 10/2.0 settings on M5 and on H4 I even place 10/1.0

3.0 won't capture many moves.
fair enough will give it a go with 10/2.0 and 10/1.0.
as I said this is just testing on demo so no need to panic
Trade on your own risk Plan your trade&trade your plan dont be a
  • #204,813
  • Mar 2, 2010 8:51am Mar 2, 2010 8:51am
I went short on this pair at 1.3585; i wasnt comfortable with the PA and closed it at a 6 pip loss. If only I waited a few more min...loook at how its dropping like a rock now. What with this yo-yo PA of this PAIR. This pair is very unpredictable. Im down 25pips for the week. Yesterday out of frustration i entered a silly trade and i guess my trading psychology wasnt up to scratch today.

Things are not good. But so far all shorts have won.

I think ill sit out today. Market might bounce up again then down. Who knows. Pity that i closed the trade at 1.3585!


Where do you guys think this is heading for the next 3 hours?!
  • #204,814
  • Mar 2, 2010 8:51am Mar 2, 2010 8:51am
A new Triangle has formed along with a reversal at 1.3600. Will short to the bottom.

Jim

Quoting Nene
Hey Guys!! Just follow the bouncing ball. Classic Triangle with Bearish Bias. I am long to 3640 area where I will sell. But will watch the 3600 area.

Jim
Attached Image (click to enlarge)
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  • #204,815
  • Mar 2, 2010 8:52am Mar 2, 2010 8:52am
On the Contrary, I think it is very predictable.

Quoting 4exJunki
I went short on this pair at 1.3585; i wasnt comfortable with the PA and closed it at a 6 pip loss. If only I waited a few more min...loook at how its dropping like a rock now. What with this yo-yo PA of this PAIR. This pair is very unpredictable. Im down 25pips for the week. Yesterday out of frustration i entered a silly trade and i guess my trading psychology wasnt up to scratch today.

Things are not good. But so far all shorts have won.

I think ill sit out today. Market might bounce up again then down. Who knows. Pity that i closed the trade...
  • #204,816
  • Mar 2, 2010 8:53am Mar 2, 2010 8:53am
Gold looks like the space shuttle!
All that is left in FF is just plain garbage. "Cloggie"
  • #204,817
  • Mar 2, 2010 8:54am Mar 2, 2010 8:54am
Quoting SkyzerFX
Why? Ukraine is small and not even in EUR Union.
Probably has to do with who is holding the debt.. You know the saying.. When you owe the bank $1,000, you have a problem.. When you owe the bank $1,000,000 the bank has a problem
  • #204,818
  • Mar 2, 2010 8:54am Mar 2, 2010 8:54am
i ended up selling eu.. target at least 3471. late.. i dont usaully chase. so postion is 1/4 normal
those who can, do. those who cant, talk about those who can
  • #204,819
  • Mar 2, 2010 8:54am Mar 2, 2010 8:54am
Quoting SkyzerFX
Why? Ukraine is small and not even in EUR Union.
Even though it's small....it's a European country and all european banks or more or less linked...so a Default of Ukraine would make european banks lose a lot of money for sure

And i doubt that if a country is on default the markets will go up...like it happens today...even if it's a small one

That's just my point of view...
COT: The precious data ignored
  • #204,820
  • Mar 2, 2010 8:55am Mar 2, 2010 8:55am
Quoting Nene
On the Contrary, I think it is very predictable.

So after reaching the lower lows since May '09 you predicted that it would correct 170pips just in the London session?? Please dont fool yourself.

Too many smart asses around. Where are the honest traders?
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