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EURUSD

  • #249,961
  • May 30, 2010 5:53pm May 30, 2010 5:53pm
Highest since NZ open was 2290

Lowest since NZ open was 2257

Source: Reuters Group PLC
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #249,962
  • May 30, 2010 6:02pm May 30, 2010 6:02pm
Quoting bbakker
People see different things on the same chart, but that is because people have a different trading strategies and plans. Personally I am not taking any long positions on EU now, but that is just me, as I can't see the current trend turning. I don't trade retraces against the trend as I have been burned too many times trying to do this myself, but again that is just me and my trading style. Horses for courses.

Swing traders will always be labelled as the "smelly finger brigade" but they also get the biggest risk/reward ratios for the times they...

I agree
and I add;
i Notice that must of those guys trade what they want the market to do, rather than what their charts says, ..."
for example:
If made a mistake and go short, they looking for anyone who support them in their losing position because dont want to close in time.
If went long correctely, they looking for anyone who support them in their profit position because they are not sure if they are in righ direction.

Cheers
  • #249,963
  • May 30, 2010 6:02pm May 30, 2010 6:02pm
Quoting TexasforEX
I told myself I wasn't going to short this pair until the daily TL broke (and I already did it once for a loss), but man that is one tempting short setup.

Pin bar and rejection at the previous high.

To further add to my credibility I posted this on Dec 3, 2009. (it's in the archives) Unfortunately, I didn't trade it; still not a bad bit of analysis though.

Dec 3, 2009 was the high made before the plunge.
"Timing Is Everything. Really I Swear It Is"
  • #249,964
  • May 30, 2010 6:02pm May 30, 2010 6:02pm
Hi what anyone see for eur usd to where it can go up
plz any idea where i put my sl plz
  • #249,965
  • May 30, 2010 6:06pm May 30, 2010 6:06pm
Quoting Troder
Hi what anyone see for eur usd to where it can go up
plz any idea where i put my sl plz
nobody knows for sure... thats the forex market.. you should have had an idea where you wanted to enter an exit your trade... otherwise not enter it at all... if you need help - there is lots of it but you won't be given answers... www.babypips.com <-- this is a great start
  • #249,966
  • May 30, 2010 6:10pm May 30, 2010 6:10pm
Debt crisis in the eurozone will not push the global economy into a new recession, said James Bullard, president of the U.S. Fed branch in St. Louis.

"Many are worried that problems faced by some European countries will develop into a new major crisis. It is certainly possible, but I do not think this will happen," said Bullard, and transmits AP. "If fiscal consolidation is not enough, then the debt restructuring will become the only alternative," said Bullard, adding that other variants can be implemented in the usual way with minimal damage to the world market.

"The euro will survive this storm," said one of the leaders of Fed. "Even in the darkest scenario, the survival of a single European currency will not come into question," said Bullard who also believes that the current situation can not be compared with the period following the collapse of Lehman Brothers.

Translation by T@rantula
  • #249,967
  • May 30, 2010 6:11pm May 30, 2010 6:11pm
..............and watch the spread of your broker, it gives you at the moment a hint what is going on.
  • #249,968
  • May 30, 2010 6:12pm May 30, 2010 6:12pm
  •  crmcwi
  • | Joined Mar 2010 | Status: Entrepreneur, Programmer, Analyst | 35 Posts
Quoting 2+2=4ex
Hello everyone. Ready for another week?! Hope we all do well. Last night I went to the Marlins baseball game and got to witness history as Roy Halladay pitched a perfect game. Only the 20th in major league baseball history. I took some photos, they're all from the 9th inning, enjoy...
A W E S O M E.

thankyou. 2+2
  • #249,969
  • May 30, 2010 6:12pm May 30, 2010 6:12pm
Good evening Gentlemen,
Anyone watching weekly pivots here?

I wish you all a good trading week.

Red.
  • #249,970
  • May 30, 2010 6:15pm May 30, 2010 6:15pm
Quoting Freddyfx
..............and watch the spread of your broker, it gives you at the moment a hint what is going on.
my broker is usually 1.6 spread.... now is at 2.1 .... whats going on?

greetings

Darpsyx
  • #249,971
  • May 30, 2010 6:18pm May 30, 2010 6:18pm
Quoting Darpsyx
my broker is usually 1.6 spread.... now is at 2.1 .... whats going on?

greetings

Darpsyx
Ummm... less liquidity then when it's @ 1.6
Every time you use 'hopium' in a post, God kills a kitten.
  • #249,972
  • May 30, 2010 6:19pm May 30, 2010 6:19pm
Quoting Darpsyx
my broker is usually 1.6 spread.... now is at 2.1 .... whats going on?

greetings

Darpsyx

Amigo, there is NO volume.

My advise, if you care to hear it, wait till Tokyo comes online and then check what is happening.

There is always the next bus you can take to the bank,...............saludos.
  • #249,973
  • May 30, 2010 6:20pm May 30, 2010 6:20pm
Quoting Rednose
Good evening Gentlemen,
Anyone watching weekly pivots here?

I wish you all a good trading week.

Red.
Weekly pivot is at 1.2334 why ?
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #249,974
  • May 30, 2010 6:20pm May 30, 2010 6:20pm
Quoting Darpsyx
my broker is usually 1.6 spread.... now is at 2.1 .... whats going on?

greetings

Darpsyx
Bank holiday, plus the markets have just opened after weekend.

Correct me if I am wrong?
  • #249,975
  • May 30, 2010 6:21pm May 30, 2010 6:21pm
Quote
..............and watch the spread of your broker, it gives you at the moment a hint what is going on.

Quoting Darpsyx
my broker is usually 1.6 spread.... now is at 2.1 .... whats going on?

greetings

Darpsyx

Exactly! say whats going on, this is a forum where info is shared for others to benefit from, just as well someone may have info for you to benefit from, dont leave vague and useless remarks like the first quote I have above!
  • #249,976
  • May 30, 2010 6:22pm May 30, 2010 6:22pm
Quoting DMA Trader
Weekly pivot is at 1.2334 why ?
I got mine at 1.2462, was wondering if my indicator still shows the one from last week.

Red.
  • #249,977
  • May 30, 2010 6:22pm May 30, 2010 6:22pm
Quoting Darpsyx
my broker is usually 1.6 spread.... now is at 2.1 .... whats going on?

greetings

Darpsyx
who is your broker?
  • #249,978
  • May 30, 2010 6:23pm May 30, 2010 6:23pm
Quoting profxtrader
Ummm... less liquidity then when it's @ 1.6

novices hey ...what we gonna do with them

for the person that asked question

this time of day there is little liquidity in the market. That means that if you could see the market depth ( like a level 11 screen on nasdaq you would see there was little or no depth top the markets. orders or open to slippage at this time of day , as spreads will fluctuate

this is known as a thin market

http://www.investopedia.com/terms/t/thinmarket.asp

hope this explains it for you
Blogging daily now at www.volume.zone
  • #249,979
  • May 30, 2010 6:25pm May 30, 2010 6:25pm
Quoting DMA Trader
I don't think 95% traders here think EUR is going down.
Make a poll.
From Greece is only 2% Europe GDP to Bailout 1 trillion to Germany intervention. People have been buying all DIPS. So they are the 95% of people losing money fighting the trend.

You would not expect people who sold this thing are losers.

So EUR may still go down until it stops. And when things will change and the trend will change we are going to go long. Until than you either short or stay out or be 1 of the 95% losers.

Not to be too complicated, but did the longs that got squeezed and new shorts coming way too late to the trade cause capitulation? (Huge May Candle)

I firmly say yes.

So trades are one way then? Traders have to keep shorting coz this thing won't stop for a while?

We'll just have to agree to disagree.

I have plenty o longs sir. Are you holding shorts then? You don't wanna get lumped into the 95% like me do you?
"Timing Is Everything. Really I Swear It Is"
  • #249,980
  • May 30, 2010 6:26pm May 30, 2010 6:26pm
Quoting TexasforEX
To further add to my credibility I posted this on Dec 3, 2009. (it's in the archives) Unfortunately, I didn't trade it; still not a bad bit of analysis though.

Dec 3, 2009 was the high made before the plunge.
Nice analysis!

But then you also posted that GU will hit 1.60 (we did see 1.55) without any chart analysis!
http://www.forexfactory.com/showthre...10#post3449610

What I have learned is that if you want any credibility on any forum, you should back up your calls with the chart analysis that show your reasoning for the call.

Please don't take this the wrong way. This is just my experience to the extend that someone even called me a liar and that I didn't even take the trade and closed it with green pips. I had to post a screenshot of my platform showing my trades to prove them wrong.

Keep on posting and good luck with your long trades!
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