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  • #262,901
  • Jun 24, 2010 8:53am Jun 24, 2010 8:53am
1.2320 has too much resistance. we go back below 1.2300 i think
  • #262,902
  • Jun 24, 2010 8:53am Jun 24, 2010 8:53am
Quoting HotChick
Why do you think its short? Change of leadership means it is looking increasingly likely the RSPtax won't go ahead: I would have thought that would generate some short and medium term strength
From a fundamental point of view you might be right...but when I look at the chart it clearly says uptrend is broken...Im pretty sure here just look at the weakness today...only EUR strength is giving a little bit of relief here....can show you the chart if you want me to...
  • #262,903
  • Jun 24, 2010 8:54am Jun 24, 2010 8:54am
Hmm. Risk trade coming off worldwide in equities and commodities, yet the EUR spiked against the USD? Not logical.

Disclosure: Short EUR, so talking my book.
  • #262,904
  • Jun 24, 2010 8:57am Jun 24, 2010 8:57am
Quoting cloggie
SR's, fibs, ma's pivots. Identify each and every range trade the bounces, wait for the break and ride her to the next area of consolidation. Price never moves in a straight line, every day it ranges in between levels, gives you a break and forms a new range. Like I said earlier, 2301 goes and we are in for a runner, now just figure out when the next range starts, get out of your runner and trade the new range, identify the levels, play the bounces and wait for a break for a lovely new runner again. Watch the news, that can give you the runner you...
great advise....got it written down
  • #262,905
  • Jun 24, 2010 8:58am Jun 24, 2010 8:58am
Quoting tradertom
which pattern
H&S on the hourly, just formed top right shoulder with this spike. (its an ugly one, but its there)
  • #262,906
  • Jun 24, 2010 8:59am Jun 24, 2010 8:59am
Quoting EuroTrader
....or down to 1.2200
  • #262,907
  • Jun 24, 2010 9:00am Jun 24, 2010 9:00am
That last hourly candle looks like a sell to me i will sit tight with my short at 1.2288
  • #262,908
  • Jun 24, 2010 9:01am Jun 24, 2010 9:01am
What a nice little pump and dump.
  • #262,909
  • Jun 24, 2010 9:04am Jun 24, 2010 9:04am
Quoting iflyjetzzz
Hmm. Risk trade coming off worldwide in equities and commodities, yet the EUR spiked against the USD? Not logical.

Disclosure: Short EUR, so talking my book.
This POS has been illogical all week. You could have made a killing doing the exact opposite of what common sense would dictate.
  • #262,910
  • Jun 24, 2010 9:08am Jun 24, 2010 9:08am
News message h3 { font-size:14px; } p { font-size:12px; } (IGM)The cuts to [GERMAN] debt issuance may have been premature as all has not been said and done...

The cuts to [GERMAN] debt issuance may have been premature as all has not been said and done with regard to the 2010 budget. The debt agency adjusted its auction plans after latest estimates show the net funding requirement at Eur65 bn, vs the Eur80 bn f/c in the official 2010 budget. However, FDP & CSU have urged Chanc Merkel to use at least some of the expected Eur15 bn savings to lessen the middle class tax burden.
  • #262,911
  • Jun 24, 2010 9:10am Jun 24, 2010 9:10am
Quoting Awesome
This POS has been illogical all week. You could have made a killing doing the exact opposite of what common sense would dictate.
This pair is clueless on the lower timeframes right now. But check the 4H.....
  • #262,912
  • Jun 24, 2010 9:10am Jun 24, 2010 9:10am
Quoting manojsai
The origin of the word "rupee" is found in the word rūp or rūpā, which means "silver".
and a nice time too when we are getting a symbol when silver price is high
Way ahead of you on that. I've been buying spot silver and gold like a mad man in the past 5 months. Can't wait to sell-off my reserves.
  • #262,913
  • Jun 24, 2010 9:11am Jun 24, 2010 9:11am
Quoting Awesome
This POS has been illogical all week. You could have made a killing doing the exact opposite of what common sense would dictate.
Yeah, I'm a novice FOREX trader. I shifted my strategy away from equity and commodity trading (2 decades' experience) into short EURUSD last December. It's been very profitable but there have more than a couple of interim weeks like this.
Yesterday was classic; the FOMC announcement practically stated that the EZ's in deep trouble, yet the EUR rallied on the back of the news release. Granted, the risk on trade initially occurred in equities, but even that was taken down by the end of the day while the EUR still closed up.
  • #262,914
  • Jun 24, 2010 9:12am Jun 24, 2010 9:12am
Quoting HotChick
Why do you think its short? Change of leadership means it is looking increasingly likely the RSPtax won't go ahead: I would have thought that would generate some short and medium term strength
Wrong thread...chart is available in AUD USD thread...
  • #262,915
  • Jun 24, 2010 9:14am Jun 24, 2010 9:14am
Quoting PriceVolume
This pair is clueless on the lower timeframes right now. But check the 4H.....

H4 is set for a drop to 215, it is just a matter of where from. So I am still playing the ranges till we have a proper drop. Lots of tradeable moves between here and 215 both to the long and short side.
  • #262,916
  • Jun 24, 2010 9:14am Jun 24, 2010 9:14am
Quoting PriceVolume
This pair is clueless on the lower timeframes right now. But check the 4H.....
No argument from me on the clueless part of your statement. But I don't trade in short timeframes; a week would be a short trade for me.

EDIT: Sorry for jumping in; I've been in lurk mode trying to learn from all of you who are very good at TA. TA's always been a weakness of mine; that's a bad Achilles Heel for a FOREX trader. I'm more of a Jesse Livermore, 'Be right and sit tight' investor.
  • #262,917
  • Jun 24, 2010 9:15am Jun 24, 2010 9:15am
I bet it goes down now.
  • #262,918
  • Jun 24, 2010 9:16am Jun 24, 2010 9:16am
Quoting woo
I bet it goes down now.

Well, put your money on it then and show us a screen shot of your entry.....
  • #262,919
  • Jun 24, 2010 9:17am Jun 24, 2010 9:17am
Quoting PriceVolume
This pair is clueless on the lower timeframes right now. But check the 4H.....
I have no idea what is going on with the faster timeframes. If good intraday traders have had a hard 36 hours then I'd feel a little better about my current cluelessness. It's one of those times I feel like just walking away for a couple of days.
  • #262,920
  • Jun 24, 2010 9:23am Jun 24, 2010 9:23am
Short squeeze rally if ever i saw one.
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