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Trend Trading Chart Thread

  • #1,161
  • May 5, 2010 11:06am May 5, 2010 11:06am
Daily close may give us an opportunity to SHORT this pair.......nice PB in trend direction could be the signal, 1.3000 Resistance & 50% Fibs...............lets wait and see......S/L hit on GBPCAD & GBPCHF..........i would avoid any GBP Pairs with the UK Elections knocking on the door..................cheers

Quoting Brixton
well, it seems to have smashed through 1.0300 without looking back. Im now watching the decending resistance line to see what happens here.
  • #1,162
  • May 5, 2010 5:37pm May 5, 2010 5:37pm
Quoting Fx_Genius
I think the bottom will be about 1.28 - 1.29 this week.
A little sooner than I expected but what can ya do?

Rumor has it the big players are looking for 1.25.

I say rumor only because I read it in 1 location only and usually after such a drop as we have seen it will recover more that a quick visit +100 from bottom.

BTW low on Mar 2 2009 was 1.2456...
  • #1,163
  • May 6, 2010 12:41am May 6, 2010 12:41am
I will be careful on shorting UCAD... It has broken the Daily TL... Right now market is driven primarily by FEAR...

Everybody seem to be getting aboard the Flight of Safety... hmmm i suppose they will be showing for in-flight entertainment the movie "Chicken Little"
"Thinking Heart & Feeling Brain"
  • #1,164
  • May 6, 2010 2:15am May 6, 2010 2:15am
Quoting Fx_Genius
A little sooner than I expected but what can ya do?

Rumor has it the big players are looking for 1.25.

I say rumor only because I read it in 1 location only and usually after such a drop as we have seen it will recover more that a quick visit +100 from bottom.

BTW low on Mar 2 2009 was 1.2456...
I've read 1.25 too... but I don't know whether or not it's true!?!

I was hoping to add to my shorts again in the 1.29/1.30 area but it looks like I'm not going to get the chance!!
  • #1,165
  • May 6, 2010 2:26am May 6, 2010 2:26am
frankly this drop scares me. i am making pips because i have one lot still ongoing, but this drop is scary.

the last time there was such a continuous rise/drop was 10th to 18th march 09

Quoting DanUK
I've read 1.25 too... but I don't know whether or not it's true!?!

I was hoping to add to my shorts again in the 1.29/1.30 area but it looks like I'm not going to get the chance!!
  • #1,166
  • May 6, 2010 1:44pm May 6, 2010 1:44pm
Everyone who is short eurusd what do you think on the strong support @ 12500 that shows up well on the weekly charts?

Looking to short eurcad later today anyone else?
  • #1,167
  • May 6, 2010 1:49pm May 6, 2010 1:49pm
Quoting bez3000
Everyone who is short eurusd what do you think on the strong support @ 12500 that shows up well on the weekly charts?

Looking to short eurcad later today anyone else?
Hi, huh, me not posting.....
Me having a new job still in forign country with forign lanuguage.

Nevertheless, what did the market do at 1.3? Nothing really. Tis thing is a fundamental bus. I would nt look for longs here for sure. The technique of Dan, that s trailing SL, works just ine here IMO.
Kind Regards zol
  • #1,168
  • Edited 2:30pm May 6, 2010 1:53pm | Edited 2:30pm
WTF is happening???

I can't find anything!!?!

Dow down under 10k then back up to -500, E$ down to 1.2516 & back up to 1.26ish.

Any clues??

Answer: Greece
http://money.cnn.com/2010/05/06/mark...rkets_newyork/
  • #1,169
  • May 6, 2010 3:13pm May 6, 2010 3:13pm
Quoting Fx_Genius
WTF is happening???

I can't find anything!!?!

Dow down under 10k then back up to -500, E$ down to 1.2516 & back up to 1.26ish.

Any clues??

Answer: Greece
http://money.cnn.com/2010/05/06/mark...rkets_newyork/

Better answer:
http://www.forexlive.com/104806/all/latest-rumor
  • #1,170
  • Edited 3:47pm May 6, 2010 3:34pm | Edited 3:47pm
Quoting driftwood
Better answer:
http://www.forexlive.com/104806/all/latest-rumor
That makes more sense. But will the truth come out on it?

Link
http://www.cnbc.com/id/36999239
  • #1,171
  • May 6, 2010 4:22pm May 6, 2010 4:22pm
Scary stuff indeed.

The question is... where to now?

E/U - a retracement must be due! Up to 1.29/1.30 maybe?

I noticed G/U is taking a bit more of a beating... I wonder if that is a result of the early exit polls indicating a hung parliament!?!
  • #1,172
  • May 6, 2010 4:30pm May 6, 2010 4:30pm
i actually want a retrace now. i have encashed over 600 pips and have 800 pips locked in safely in my current trades. but i fear for economic stability!

hmm, that sounds a grandiose, but its better to make money in normal markets than in such a market.

asto £, i dunno. i was thinking a hung parliament was already priced in, and hence we had the sterling drop yesterday, but who knows!

Quoting DanUK
Scary stuff indeed.

The question is... where to now?

E/U - a retracement must be due! Up to 1.29/1.30 maybe?

I noticed G/U is taking a bit more of a beating... I wonder if that is a result of the early exit polls indicating a hung parliament!?!
  • #1,173
  • May 6, 2010 5:03pm May 6, 2010 5:03pm
Quoting DanUK
Scary stuff indeed.

The question is... where to now?

E/U - a retracement must be due! Up to 1.29/1.30 maybe?

I noticed G/U is taking a bit more of a beating... I wonder if that is a result of the early exit polls indicating a hung parliament!?!
Where now? No mans land I think..

E$, maybe a retrace but not as big maybe 1.265-1.27 then back down.

Usually, futures are way up after a big drop but June & Sept futures are not that far off from where we are...

http://datasuite.cmegroup.com/EFXweb/index.html

PS I'm really starting to scare myself, it's like I'm writing the future. Or I actually have become one with the E$.
PPS I am winning the lottery next week for 150 million.
  • #1,174
  • May 6, 2010 7:50pm May 6, 2010 7:50pm
'Dr. Doom' Fears Financial Crisis
Economist Nouriel Roubini believes Greece is the first symptom of a larger problem

Inserted Video
  • #1,175
  • May 7, 2010 5:45am May 7, 2010 5:45am
To hell with these markets right now.. I'm going to have 3-4 weeks off I think... Markets are driven by fear and fundamentals right now.. This is no place for technical analysis
  • #1,176
  • May 9, 2010 12:01pm May 9, 2010 12:01pm
Movement over weekend like last weekend but not as severe as last weekend.

Same result as last week or is this a turn up starting early?

EU Preps Euro Fund to Fight ‘Wolfpack,’ Debt Crisis
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  • #1,177
  • May 9, 2010 12:04pm May 9, 2010 12:04pm
http://preview.bloomberg.com/news/20...kets-open.html
  • #1,178
  • May 9, 2010 12:09pm May 9, 2010 12:09pm
http://www.telegraph.co.uk/news/worl...-out-euro.html
  • #1,179
  • May 9, 2010 1:27pm May 9, 2010 1:27pm
Spread now 20, usually 10 over weekend.
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  • #1,180
  • May 9, 2010 3:20pm May 9, 2010 3:20pm
Quoting DanUK
Scary stuff indeed.

The question is... where to now?

E/U - a retracement must be due! Up to 1.29/1.30 maybe?
Looks like you nailed it and maybe more, rejected at 1.29 for now.

Be ready for gaps if your broker has yet to open!
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