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  • #244,481
  • May 19, 2010 8:12am May 19, 2010 8:12am
There is a rumor that ECB is prepared to "guard" and "support"the euro ,... believe that after this intervention it will fall much more down as trading cat said.
  • #244,482
  • May 19, 2010 8:13am May 19, 2010 8:13am
I read somewhere that there is a method that you can predict those spikes.

Anybody knows anything?

Quoting Z3iz3i
Well, this happens from time to time

a) Majority was short on majors eu/gu and long on usd/chf

- Shorts taken out first (usd/chf sold, eur/chf bought), slowly crawling within good range to do this and eur/gbp was bought all day long as well, nice boost for €

b) Then other shakeout that messed up the rest.

- It was not expected and some probably went short on usd/chf after a while
- Both eur/chf and usd/chf appreciated

So, only good option should have been just long on eur/usd and gbp/usd here with proper timing. (if that would...
  • #244,483
  • May 19, 2010 8:13am May 19, 2010 8:13am
Quoting SkyzerFX
1.2385 that where my top channel is on M30.
2399 then 2431 for 3 white soldiers
  • #244,484
  • May 19, 2010 8:15am May 19, 2010 8:15am
Quoting Tomex
There is a rumor that ECB is prepared to "guard" and "support"the euro ,... believe that after this intervention it will fall much more down as trading cat said.
theyre not going to......they cannot afford to, they need a weak euro, it will be the only thing that if they are to survive, will make them do it....
  • #244,485
  • May 19, 2010 8:17am May 19, 2010 8:17am
believe it was just some kind of an impuls from their side or is it connected in some way with yen ?


Quoting mfoste1
theyre not going to......they cannot afford to, they need a weak euro, it will be the only thing that if they are to survive, will make them do it....
  • #244,486
  • May 19, 2010 8:17am May 19, 2010 8:17am
Quoting Z3iz3i
So, only good option should have been just long on eur/usd and gbp/usd here with proper timing. (if that would have been possible to forecast)
I'll repeat one more time (for fun ):

In bull market, one is supposed to be long or flat ONLY.
In bear market, one is supposed to be short or flat ONLY.

Where're clearly in H1 and higher time frames in BEAR market (below the 200sma), so please people do yourself a favor, go with the trend only (or stay flat), or you'll get run over by the market trend, over, and over, and over...That's the nature of the game.

Now if you can't stay flat and watch a market counter trend move without jumping in, that tells a lot about your patience and determination to do what's in your best interest.
Getting it right is NOT as important as not getting it wrong.
  • #244,487
  • May 19, 2010 8:17am May 19, 2010 8:17am
Can you set forex factory to auto refresh?
  • #244,488
  • May 19, 2010 8:17am May 19, 2010 8:17am
Quoting Constantinos
I read somewhere that there is a method that you can predict those spikes.

Anybody knows anything?
I just pm u tell me if u got it don't know exactly how it works.
  • #244,489
  • May 19, 2010 8:18am May 19, 2010 8:18am
Quoting giaspyr
Still can't figure out why such a price movement.
Probably central banks playing games.
  • #244,490
  • May 19, 2010 8:18am May 19, 2010 8:18am
My orders still stand let them come up this wont help them in the long run...


off topic, as intervention makes trading a gambling house.
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  • #244,491
  • May 19, 2010 8:18am May 19, 2010 8:18am
Quoting SkyzerFX
1.2385 that where my top channel is on M30.
That would change the TREND lol

downtrendline lower than 1.2385

61.8% fibo at 1.2334

23.6% fibo from weeks at 1.2368
  • #244,492
  • May 19, 2010 8:20am May 19, 2010 8:20am
Quoting mfoste1
I saw this report that core inflation fell in april.....maybe it did fall a bit, but this is lagging data and i can guarantee you that it has risen since then. Why are prices going up now? food, consumer goods, etc....
http://www.cnbc.com/id/37229659
this article is bullshit
"Lower Energy Prices in Unexpected Drop in Consumer Prices"


Where is that Drop? In White House Buffet? I don't see it!

http://www.rttnews.com/ArticleView.aspx?Id=1310490
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  • #244,493
  • May 19, 2010 8:20am May 19, 2010 8:20am
Quoting fxswing
I'll repeat one more time (for fun ):

In bull market, one is supposed to be long or flat ONLY.
In bear market, one is supposed to be short or flat ONLY.

Where're clearly in H1 and higher time frames in BEAR market (below the 200sma), so please people do yourself a favor, go with the trend only (or stay flat), or you'll get run over by the market trend, over, and over, and over...That's the nature of the game.

Now if you can't stay flat and watch a market counter trend move without jumping in, that tells a lot about your patience and determination...
Ur right my friend but also very important imo is to have good entries, maby the most difficult part for some including me.
  • #244,494
  • May 19, 2010 8:25am May 19, 2010 8:25am
Quoting giaspyr
Ur right my friend but also very important imo is to have good entries, maby the most difficult part for some including me.
What was hard to try to short a former long term low (more than 1 year old) below 1.2333 ? On the premise that former support would become resistance.

Discipline, patience and a plan is the key. Trading is easy if you don't transform it into rocket science.
But you must be willing to be wrong and take recoverable losses, and that's the part that most traders don't want to hear...
Getting it right is NOT as important as not getting it wrong.
  • #244,495
  • May 19, 2010 8:26am May 19, 2010 8:26am
Quoting giaspyr
I just pm u tell me if u got it don't know exactly how it works.
I'm also interested!
  • #244,496
  • May 19, 2010 8:27am May 19, 2010 8:27am
shorted at 2275 should I hold on to it ?>
  • #244,497
  • May 19, 2010 8:28am May 19, 2010 8:28am
so trend is still bearish ?
or already reversal ?
  • #244,498
  • May 19, 2010 8:29am May 19, 2010 8:29am
Quoting Trading Cat
off topic, as intervention makes trading a gambling house.
Those are trully words of wisdom...I would love to short UE as I'm 100% bear, but EURCHF could jump up at any moment... It's very risky to trade now...besides, market will be here ina couple of hours or tomorrow.
Check out perfect correlation between EU, EURCHF, EJ, USDCHF in 5M tf...
  • #244,499
  • May 19, 2010 8:29am May 19, 2010 8:29am
Quoting Dr_P
I'm also interested!
Mabey just post it here or smth? I guess EVERYONE is interested
  • #244,500
  • May 19, 2010 8:30am May 19, 2010 8:30am
Quoting fxswing
What was hard to try to short a former long term low (more than 1 year old) below 1.2333 ? On the premise that former support would become resistance.

Discipline, patience and a plan is the key. Trading is easy if you don't transform it into rocket science.
But you must be willing to be wrong and take recoverable losses, and that's the part that most traders don't want to hear...
Right again, i was not talking about this now but more generelly, and what u say is easier if ur a long term traider and if u have the account balance for very wide stop losses.
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