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  • #235,401
  • May 4, 2010 5:53am May 4, 2010 5:53am
Quoting acidburn123
I locked in my half profits when we hit daily S1 ... might retrace from here... no idea ... activated a trailing stop just in case. bears seem to be less persistent right now.
You are fast I'm targeting DPP
Don't be a hero. Don't have an ego. Always question yourself
  • #235,402
  • May 4, 2010 5:54am May 4, 2010 5:54am
European Forex Technicals: EUR/USD To Retest 1.3114 Low

4 May 2010, 08:26



http://cdn.forexfactory.com/images/attach/pdf.gif 2010-05-04_European Forex Technicals.pdf (8.9 KB)




Intraday :


EUR/USD :


Monday's wide-ranging down-day engulfs last Friday's range to leave a significant peak at 1.3365, and the 1.3154 low is vulnerable to renewed bear pressure. A break through there would expose last week's recovery low at 1.3114, and carry the threat for fresh 2010 lows towards the significant support cluster straddling the 1.3000 level. Regaining ground above the 1.3253 intraday lower high is required to provide respite, and re-open 1.3310.

Weekly chart EUR/USD trend: Bearish.







;-)



bibib
Attached File(s)
File Type: pdf 2010-05-04_European Forex Technicals.pdf   9 KB | 295 downloads
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #235,403
  • May 4, 2010 5:55am May 4, 2010 5:55am
Quoting realjumper
Happened to us all at some stage skipper!

That picture is very real. I belive everyone has exercised that (in demo or real..dosen't matter)
  • #235,404
  • May 4, 2010 5:56am May 4, 2010 5:56am
Quoting alexandru987
If it weren`t for Spain rumors you could have taken a long @ arround 3110-3130 becouse it`s last week`s low, so a bounce should happen.(i took a long @ 3118 with sl@ 3095, but it`s 1/3 of a normal position, basically betting it gets rejected, but i`m not sure it will so i won`t risk more)

But basically when in doubt stay out.

EDIT: Sorry only saw now you asked gator. My bad.
No problem! Actually you just added to my understanding of what's going on with the e/u right now. Another piece of the puzzle fell into it's place. I believe last week's low is exactly the reason why gator said it would be good place for an exit (should you be short earlier).

The break of this low and closing below it on longer TFs would be a nice bearish signal.

Best regards
"Put your shoulder to the wheel!"
  • #235,405
  • May 4, 2010 5:56am May 4, 2010 5:56am
Second attempt at 3113 on the 15 min chart ... but more importantly attempting second attempt of this level on 4 hr chart. Lets wait and see after US jumps in
" THE BRAIN IS LIKE A PARACHUTE ... WORKS BEST WHEN OPEN "
  • #235,406
  • May 4, 2010 5:56am May 4, 2010 5:56am
BULLET: EURO: Opened in early Europe around $1.3206..........
EURO: Opened in early Europe around $1.3206.
The euro has been sold off from the European open Tuesday as many
traders/investors return to the market after the mayday holidays. The
pair has gradually moved lower to $1.3115 as continued worries over
Greece and the potential for Spain to be next in line to ask for aid
sees investors hedging against the downside. Some large amounts have
been trading in the options markets traders report a large clip of 1
month euro puts being bought with a strike at $1.2900 trading at 12.45
in over 700 mln euros. The continued selling took a breather as large
bids ahead of $1.3100 stemmed the losses. Traders note the bids are said
to be linked to protection of a large option barrier at $1.3100 and is
layered all the way to this level with some stops building behind.

Provided by: Market News International
Trade on your own risk Plan your trade&trade your plan dont be a
  • #235,407
  • May 4, 2010 5:57am May 4, 2010 5:57am
as i see it coming.. 1.30xx coming... it aint armageddon so dont be afraid... just dont get caught longing this baby...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #235,408
  • May 4, 2010 6:03am May 4, 2010 6:03am
We are talking here a bout a 12Month low, and it needs a very serious news to break it. Anyway the SL is too small and conservative and worthed the risk I think.

Quoting Al-Agha
Firm Bullish in EUR/USD

- 3x H1 bottom
- 2x Indicator Divergence

SL:1.3105


Cheers,
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H1.jpg Size: 122 KB
Depict history, predict future, and the area in between ...
  • #235,409
  • May 4, 2010 6:04am May 4, 2010 6:04am
We are ready to buy near 1.3114 for a rebound towards 1.3153 (first unwinding zone) and if crossed there for a move towards 1.3225/ 33 or even to 1.3250 - 1.3275 at least in case of an extention...

Stops below near figure at around 1.3095



http://cdn.forexfactory.com/images/attach/gif.gif 2010-05-04_NostroTrackTracer_EURUSD_H1_001.gif (19.7 KB)




Viel Vergnügen noch



palim pa bim bim
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-05-04_NostroTrackTracer_EURUSD_H1_001.gif Size: 20 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #235,410
  • May 4, 2010 6:05am May 4, 2010 6:05am
Morning
Anyone thinking to long?
will long from here 1.3125
Reason- double bottom on 4h
  • #235,411
  • May 4, 2010 6:06am May 4, 2010 6:06am
Take a break and contine short later.
Face both Win and Lose bravely
  • #235,412
  • May 4, 2010 6:09am May 4, 2010 6:09am
Quoting egkid
Morning
Anyone thinking to long?
will long from here 1.3125
Reason- double bottom on 4h
Certainly thinking about it, but I want to see what US market has to offer first. Regardless, I wouldn't mind a further 20 pips to the upside in the next hour....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #235,413
  • May 4, 2010 6:13am May 4, 2010 6:13am
Closed my trade from yesterday, +74 pips. I believe the market will consolidate for a while and trend up a little bit. Anyone seeing .3240-50?
  • #235,414
  • May 4, 2010 6:14am May 4, 2010 6:14am
Quoting egkid
Morning
Anyone thinking to long?
will long from here 1.3125
Reason- double bottom on 4h

i do take profit 1.3200
  • #235,415
  • May 4, 2010 6:17am May 4, 2010 6:17am
I will say no...the market still weak on euro economy so let them go hit lower level support @ 1.3100 then we can see the next level will be!!!!!!!
  • #235,416
  • May 4, 2010 6:19am May 4, 2010 6:19am
Quoting Carnegie
Closed my trade from yesterday, +74 pips. I believe the market will consolidate for a while and trend up a little bit. Anyone seeing .3240-50?
I do....
Don't be a hero. Don't have an ego. Always question yourself
  • #235,417
  • May 4, 2010 6:24am May 4, 2010 6:24am
a long is a risky trade now... i would nt risk it before touching another low..1.306 or this area... maximum long profit would be 60 pips... in the best case scenario.. before a retest of lows...
Andreyou
  • #235,418
  • May 4, 2010 6:25am May 4, 2010 6:25am
Quoting FXExpertMK
I will say no...the market still weak on euro economy so let them go hit lower level support @ 1.3100 then we can see the next level will be!!!!!!!
It's also possible that the markets haven't reacted in the expected way, post the Greece bailout plan.....which is more or less signed and sealed. Everyone was expecting a brief rally of a few hundred pips on the bailout, before the reality sank in and dropped the eur again. That rally never happened. Perhaps the markets were so full of built in bailout news, which was almost a forgone conclusion, that no rally reaction was ever going to happen. Instead of a 'YIPEEEE' from the market, we may get a subdued 'oh okay then' type reaction with no rally.

It's possible that the built in settlement is all over and done with, and what we see now may be all there is going to be.

Not saying that this is so, just saying that it's possible....

Edit: Also possible is that this will tank sooner or later....if it does, I'll have a piece, but I'm not convinced that it will....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #235,419
  • May 4, 2010 6:28am May 4, 2010 6:28am
Quoting Carnegie
Closed my trade from yesterday, +74 pips. I believe the market will consolidate for a while and trend up a little bit. Anyone seeing .3240-50?
I don't think we'll see that levels soon again.
big numbers are our friends...
  • #235,420
  • May 4, 2010 6:34am May 4, 2010 6:34am
Quoting andreypu
a long is a risky trade now... i would nt risk it before touching another low..1.306 or this area... maximum long profit would be 60 pips... in the best case scenario.. before a retest of lows...
Nice and right because everyone trade depends on his TF & MM
As long as have a plan and know where ur SL & TP No worry
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