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  • #233,761
  • Apr 29, 2010 1:30pm Apr 29, 2010 1:30pm
Quoting mmccormac
I agree, and I've been watching this also. I'm one of those "follow the trend" people you mentioned... I also keep a close eye on the USDX and the EURX (yes a few commodities as well) for insight. Looks like a little bit of a squeeze is taking place on the hourly.

Good analysis psiholog.
i assume, the squeeze could be even bigger when details about financial aid is finally released to the public, or even more important, when greece has finally to pay the first rate... the higher it rises... i'm just waiting to enter at the best price available to me.
  • #233,762
  • Apr 29, 2010 1:40pm Apr 29, 2010 1:40pm
Quoting Mr Hatch
i assume, the squeeze could be even bigger when details about financial aid is finally released to the public, or even more important, when greece has finally to pay the first rate... the higher it rises... i'm just waiting to enter at the best price available to me.
What price are you looking for?

I phase in to deals using key Fib levels so it's not all or none for me and it's ok if it goes another phase or two up. I do have stops in areas I believe change the game though and I also watch several other markets to cut risk if necessary.
  • #233,763
  • Apr 29, 2010 1:51pm Apr 29, 2010 1:51pm
I'm getting that 'neck hair' alert...

If this thing reverses back north , I'm out till next week and watching... from a Safe distance.

Stay Nimble guys..

Attached Image
FUBAR...
  • #233,764
  • Apr 29, 2010 1:51pm Apr 29, 2010 1:51pm
Looks like this is seting up to go up. Better close all shorts for now.
  • #233,765
  • Apr 29, 2010 1:52pm Apr 29, 2010 1:52pm
Quoting Leeson
Looks like this is seting up to go up. Better close all shorts for now.
would you be so kind to explain why
  • #233,766
  • Apr 29, 2010 1:56pm Apr 29, 2010 1:56pm
Quoting ak4x
I'm getting that 'neck hair' alert...

If this thing reverses back north , I'm out till next week and watching... from a Safe distance.

Stay Nimble guys..

Attachment
Patience Ak, patience. LOL.
  • #233,767
  • Apr 29, 2010 1:57pm Apr 29, 2010 1:57pm
Look at the trendlines at the 15m chart. Going steadily also even with bad news. This doesn't let me feel at ease...
  • #233,768
  • Apr 29, 2010 1:58pm Apr 29, 2010 1:58pm
Anyone elase having a hard time making money today?
It's either going to crash towards the pivot now or it will slowly make it's way to R2 and above.
  • #233,769
  • Apr 29, 2010 1:59pm Apr 29, 2010 1:59pm
Quoting Leeson
Look at the trendlines at the 15m chart. Going steadily also even with bad news. This doesn't let me feel at ease...
well...it's not the best looking trendline in the first place, I would say it was flat most of the time today or in range. I suppose asians should do the job and pull this down.
  • #233,770
  • Apr 29, 2010 1:59pm Apr 29, 2010 1:59pm
Quoting Atlast
Anyone elase having a hard time making money today?
It's either going to crash towards the pivot now or it will slowly make it's way to R2 and above.
Whats the pivot? 1,32? Thks.
  • #233,771
  • Apr 29, 2010 2:00pm Apr 29, 2010 2:00pm
Quoting Leeson
Whats the pivot? 1,32? Thks.
if 3280 is broken then 3320 should hold.
  • #233,772
  • Apr 29, 2010 2:03pm Apr 29, 2010 2:03pm
Quoting Atlast
Anyone elase having a hard time making money today?
It's either going to crash towards the pivot now or it will slowly make it's way to R2 and above.
I have a hard day, had 22 pips after european open. Put 1 lot of and then my stop loss was hit (I moved it break even).

My second trade I waited untill the tweezers top near trendline to go short, but now it is moving sideways, but I'll keep the position, because it is still a normal retracement, you can't even call this a short squeeze...
  • #233,773
  • Apr 29, 2010 2:04pm Apr 29, 2010 2:04pm
[MOODY"S ON GREECE] Moody's is on the wires saying a multi-notch downgrade of Greece is likely and...

[MOODY"S ON GREECE] Moody's is on the wires saying a multi-notch downgrade of Greece is likely and that it expects to complete its review of Greece's A3 rating 'shortly." 18:55 GMT - [US DATA WATCH] Main data event for Friday is Q1 real GDP growth, with consensus f/cast for 3.3% rise after jumping 5.6% in Q4 of 2009.
  • #233,774
  • Apr 29, 2010 2:05pm Apr 29, 2010 2:05pm
This thing is gonna go exactly as the US stocks are going.... didn't you notice that yet?

Im really afraid of this, because that's just hilarious, but look at US stocks, SP or DJIA or even NASDAQ, it's all the same with EURUSD, when u don't have any significant news or whatever, it's going in the rythm of stocks... same in with Europe trading time
  • #233,775
  • Apr 29, 2010 2:08pm Apr 29, 2010 2:08pm
I'd fade these moves if I was that type of trader - of course Greece are going to get downgraded by everyone else, no shit sherlock!
  • #233,776
  • Apr 29, 2010 2:08pm Apr 29, 2010 2:08pm
Quoting Predi
This thing is gonna go exactly as the US stocks are going.... didn't you notice that yet?

Im really afraid of this, because that's just hilarious, but look at US stocks, SP or DJIA or even NASDAQ, it's all the same with EURUSD, when u don't have any significant news or whatever, it's going in the rythm of stocks... same in with Europe trading time
Can please someone explain me why EUR is related to stocks? I mean, I was thinking that if the US markets would go up, EUR would come down, because more money was flowing into the US stock market, but looks like I am completely wrong! Can someone shed some light on this? I would appreciate it. Thanks!
  • #233,777
  • Apr 29, 2010 2:14pm Apr 29, 2010 2:14pm
Quoting Leeson
Can please someone explain me why EUR is related to stocks? I mean, I was thinking that if the US markets would go up, EUR would come down, because more money was flowing into the US stock market, but looks like I am completely wrong! Can someone shed some light on this? I would appreciate it. Thanks!
Sorry dude but it just ain't that simple.

What you say makes sense on it's own, but there are a plethora of factors you need to add into the mix before you can make an informed judgement about these inter market phenomena.
  • #233,778
  • Apr 29, 2010 2:15pm Apr 29, 2010 2:15pm
I'm looking for a short at 1.3300 pending sell limit, might spike up to 3337 but then it will decide, see major trendline and 618 fib at this level in my attachment

Risk/Reward ratio is also big, cause going down it will either go to 1.28, 1.23 or even 1.14 in longer term, up move to be valid should re-test 1.3300 or even lower before permanently moving up, which gives a solid trade


Attached Image (click to enlarge)
Click to Enlarge Name: 1.3300selleurusd.jpg Size: 179 KB
  • #233,779
  • Apr 29, 2010 2:23pm Apr 29, 2010 2:23pm
Quoting mmccormac
What price are you looking for?

I phase in to deals using key Fib levels so it's not all or none for me and it's ok if it goes another phase or two up. I do have stops in areas I believe change the game though and I also watch several other markets to cut risk if necessary.
i don't know what caused oct'08 rise, but it shows that these massive counter-trend movements are there. we have never tested 38.2 @1.398 and 50% @1.42 areas... I don't think the latter will be reached, but sign for a rise are there... I will be honest, these days are a loosing game for me... I make something like 40 pips, only to loose 60-80 again.
  • #233,780
  • Apr 29, 2010 2:25pm Apr 29, 2010 2:25pm
Isn't it Head and Shoulders forming on SP500 on 1 MONTH lookout? looks like it is to me, perfectly correlated with whats going to happen here
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