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  • #235,981
  • May 4, 2010 4:49pm May 4, 2010 4:49pm
What if NFP is is bad and we still fall? lol...what if it's good?...elections are in two days too...
  • #235,982
  • May 4, 2010 4:50pm May 4, 2010 4:50pm
Quoting Gld
yes donnie, i know, was just kidding
lol, sry man. I figured you were
  • #235,983
  • May 4, 2010 4:50pm May 4, 2010 4:50pm
Quoting JackintheBox
next drop is coming i think ...

@proto: Yeah, I know but trending means a trend (time and back bounces)
not selling like Euro is off tomorrow.
I never seen sth. like this before on Eur/usd, no back bounce at least 50 pips or so on that crazy lost of about 270 pips in one day.
that is NOT trending, it's smashing whyever.

I think news coming up, Insider's selling, no one would sell this down so much so fast without news in the pipeline, ready to cover if news unfold and sell off's coming - my opinion.

Jack
Looks like that, needs just some sad buyers first so they can sell against small spike.....
They think they are smarter than I am.
  • #235,984
  • May 4, 2010 4:51pm May 4, 2010 4:51pm
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting wwwin
Ask the shorts if it does not feel right....just wait until Shanghai stock exch. opens, another 150 down very possible
Watch trendline support around 1.2900 probable bounce to 1.3150 in the make.
Being right is one, taking it from the table is two.
  • #235,985
  • May 4, 2010 4:52pm May 4, 2010 4:52pm
On my weekly chart, I can see a clear way to 1.289x then 1.282x.... Don't know why do you think it's going up....
  • #235,986
  • May 4, 2010 4:54pm May 4, 2010 4:54pm
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting JackintheBox
next drop is coming i think ...

@proto: Yeah, I know but trending means a trend (time and back bounces)
not selling like Euro is off tomorrow.
I never seen sth. like this before on Eur/usd, no back bounce at least 50 pips or so on that crazy lost of about 270 pips in one day.
that is NOT trending, it's smashing whyever.

I think news coming up, Insider's selling, no one would sell this down so much so fast without news in the pipeline, ready to cover if news unfold and sell off's coming - my opinion.

Jack

The rumor that Spain would ask for bail-out has just been to put on the streets to acclerate the sell-off for longs to be positioned. Selling the fact gets closer.
Being right is one, taking it from the table is two.
  • #235,987
  • May 4, 2010 4:55pm May 4, 2010 4:55pm
omg!? a green candle!? what the? smacked the upper trend line of the channel we've been in since yesterday. pulled back right away though.

15M TF
  • #235,988
  • May 4, 2010 4:58pm May 4, 2010 4:58pm
juts some thing before lower dive
  • #235,989
  • May 4, 2010 5:00pm May 4, 2010 5:00pm
Quoting Z3iz3i
Looks like that, needs just some sad buyers first so they can sell against small spike.....
Eh eh ... there
They think they are smarter than I am.
  • #235,990
  • May 4, 2010 5:00pm May 4, 2010 5:00pm
Brutal selloff of that 5m candle.
  • #235,991
  • May 4, 2010 5:02pm May 4, 2010 5:02pm
http://www.forexlive.com/104056/all/...eats-to-1-3000

day summed up...
  • #235,992
  • May 4, 2010 5:03pm May 4, 2010 5:03pm
Midnight updrifters are coming in
Prices oscillate, trends persist. Trend is your friend.
  • #235,993
  • May 4, 2010 5:04pm May 4, 2010 5:04pm
for the retrace.

PS - I've been labeled a 'commercial' troublemaker.

hence... the new monkier.

don't worry... i'll still be the same old dik.

m
  • #235,994
  • May 4, 2010 5:05pm May 4, 2010 5:05pm
Isn't it odd specially for EU to drop +380 pips without even a small retrace?

I closed my shorts about 50 pips above ... didn't expect such lows but I think this is enough for now.

A sharp retrace could follow though. Be careful. Pros won't short at these levels.
Discipline + Patience - Fear - Greed = Success
  • #235,995
  • May 4, 2010 5:07pm May 4, 2010 5:07pm
Only two ways to be in a market like this…




Written by Jamie Coleman


May 4, 2010 at 19:51 GMT

Retail forex traders are the ultimate counter trend traders. They tend to counter trends until their accounts are wiped out…
In a market trending as strongly as this one, you can really only be long dollars or flat. trying to pick tops in the dollar (or lows in the euro) can be very dangerous. As a wise man once said (Sean Lee, I think), he who picks bottom gets smelly fingers…
Better to go with trends and opportunistically lighten up positions upon the approach of major resistance. The DXY (dollar index) is a case in point; we are approaching the 61.8% retracement of the March/April 2009 fall.
Lighten up on longs on the approach of 83.80 and look for dips to reestablish longs, improving your average price along the way. The index trades at 83.42 at the moment (reference June futures) and traded as high at 83.4650 earlier this afternoon.
http://www.forexlive.com/104050/all/...rket-like-this
  • #235,996
  • May 4, 2010 5:08pm May 4, 2010 5:08pm
[quote=dean walker;3696319]No you have not seen plenty like this because this only happened 2 or 3 times if it happened that much. Sure the market has dropped more than this but always with some kind of retrace. This drop does not have any retrace. You will not find this in the charts if you do it's only once or twice..
dean


Hmmm...I don't know. Quite a few twenty, even thirty pip retraces all day long, but if you're playing fibs then I guess today was a bummer. Anyway, wasn't expecting much out of the euro anyway. Europe is in shambles
  • #235,997
  • May 4, 2010 5:08pm May 4, 2010 5:08pm
@Now: IF Spain really only say ANYTHING in that direction... holy grail....

I hope not . I love to trade Eur/Usd.

What me frightens is the big selling pressure in that short time. Only rumors ?...
And if Germany (and they will) on Friday says ok to Greece-Bailout Euro will go up 150 Pips again of the lost till now ?...
I think it doesn't fit.

Anyone knows how devaluation worked in 1992 where Sorros played against bank of England ? Do they just print money or what ?
Was it a large drop in few minutes or took it longer ??

Something is strange, may be I sit to long today in front of the computer.

Good luck, go off now, bye

Jack
  • #235,998
  • May 4, 2010 5:11pm May 4, 2010 5:11pm
What a sharp fall with no retrace, and i was happy for locking 60 pips this morning lol anyway i am not touching this thing from here, this is no man's land.
"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #235,999
  • May 4, 2010 5:12pm May 4, 2010 5:12pm
Quoting Now
Watch trendline support around 1.2900 probable bounce to 1.3150 in the make.
this is not the time to be a hero, it is just too powerful a move
  • #236,000
  • May 4, 2010 5:15pm May 4, 2010 5:15pm
not really maybe 10-15 max. believe me I needed a retrace some 100 pips ago so I have been watching close.
I lock it in with a hedge the market can do anything it wants I will still get what I get but it's a good size loss. what I really need is another nice drop like 50 or 60 pips and then right after the drop a good retrace if not I am stuck with what I have..
This could take days for me..

There is a good retrace in their somewhere I do hope it's near my break even hedge trade..time will tell
Dean





[quote=Protogenos;3696370]
Quoting dean walker
No you have not seen plenty like this because this only happened 2 or 3 times if it happened that much. Sure the market has dropped more than this but always with some kind of retrace. This drop does not have any retrace. You will not find this in the charts if you do it's only once or twice..
dean


Hmmm...I don't know. Quite a few twenty, even thirty pip retraces all day long, but if you're playing fibs then I guess today was a bummer. Anyway, wasn't expecting much out of the euro anyway. Europe is in shambles
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