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  • #264,041
  • Jun 28, 2010 11:22am Jun 28, 2010 11:22am
Quoting Jhig
Hammer on the Daily does suggest price reversal (bullish). I personally think we're heading back to 1.30 next month.
I still think large moves like this need to be supported by fundamentals. This chart might look pretty but the fundamentals just aren't there for me. These problems don't solve themselves overnight. To each their own though.
  • #264,042
  • Jun 28, 2010 11:22am Jun 28, 2010 11:22am
Ok...let us know when you go long...lots of guys follow your trades...
  • #264,043
  • Jun 28, 2010 11:25am Jun 28, 2010 11:25am
long@2290, tp@2438 SL@2250
  • #264,044
  • Jun 28, 2010 11:25am Jun 28, 2010 11:25am
Quoting ak4x
what day was that...?

if i'm looking at what you're looking at, it's just below a two anchor descending TL, possible about to become a third anchor if respected, and somewhat UNDER the 50ema, all on daily of course.

... and you know me...permabear and all.
Ah yeah.....will it be on like donkey kong? Maybe. Or Not. I'll be letting mine run and looking for a retest....
  • #264,045
  • Jun 28, 2010 11:27am Jun 28, 2010 11:27am
Quoting atate49
I'm seeing this thing at the bottom tl at the current moment. long from 2310..with sl at 1.2285 and tp 1.2450. think i got in a lil early on the 2310 tho. just waitin for this thing to make it's peak before a 4-500 pip crash
SL HIT

Lesson nr.1 Never trade against the trend

Dunno whats the trend? Look at Daily and fibs
  • #264,046
  • Jun 28, 2010 11:28am Jun 28, 2010 11:28am
Quoting dtrader9
everybody goes long... i still hold my short and as i said from this morning it goes down...

when we break this tunnel it can go quick down...
TL touched..heading further down perhaps..
I'm learning to trust my own charts..
  • #264,047
  • Jun 28, 2010 11:29am Jun 28, 2010 11:29am
Quoting ak4x
what day was that...?

if i'm looking at what you're looking at, it's just below a two anchor descending TL, possible about to become a third anchor if respected, and somewhat UNDER the 50ema, all on daily of course.

... and you know me...permabear and all.
hey that 0 pip draw down is great.
those who can, do. those who cant, talk about those who can
  • #264,048
  • Jun 28, 2010 11:31am Jun 28, 2010 11:31am
Quoting Predi
SL HIT

Lesson nr.1 Never trade against the trend

Dunno whats the trend? Look at Daily and fibs

Trend will change depending on which TF your looking at.
  • #264,049
  • Jun 28, 2010 11:32am Jun 28, 2010 11:32am
Quoting Jhig
Price will more than likely exceed 1.23 by 20 pips before making a turn upwards. 1.23 is the level to keep your eye on.

I haven't made a trade yet as the Daily timeframe still suggest upwards momentum and by the looks of the short timeframe, price is in a bearish retrace. I'm waiting for a bullish reversal signal near 1.23 before I take a position (long). As soon as I get an entry signal, I'm running my longs wide.
As I said earlier, 1.23 will have to be reached before a bullish reversal will be in play. In addition I said, 1.23 will be exceeded by 20 pips. Look, price was exceeded 20 pips.

Now i look for my bullish reversal signal with target @ 1.25. (overall trend is long)
  • #264,050
  • Jun 28, 2010 11:33am Jun 28, 2010 11:33am
This is heading down a bit lower, im keeping my shorts
  • #264,051
  • Jun 28, 2010 11:37am Jun 28, 2010 11:37am
Quoting trade price
Eu 4 hour

Nice chart TP. We're testing atm..also right on the 200 on 4hr.
  • #264,052
  • Jun 28, 2010 11:38am Jun 28, 2010 11:38am
we are going to 1.027 stopping at 1.15. Impulsive wave down started wave 5 of primary trend down wave 3......

Still going to be a violent move down on the long run and now is the best entry for a long hold.....that's why we are and will be seeing strong sells

correction up ended c=1.272 of a.
  • #264,053
  • Jun 28, 2010 11:39am Jun 28, 2010 11:39am
Quoting Jhig
As I said earlier, 1.23 will have to be reached before a bullish reversal will be in play. In addition I said, 1.23 will be exceeded by 20 pips. Look, price was exceeded 20 pips.

Now i look for my bullish reversal signal with target @ 1.25. (overall trend is long)
Not on my charts! I'm giving you a hard time man....but daily and higher looks like just a pullback....
  • #264,054
  • Jun 28, 2010 11:41am Jun 28, 2010 11:41am
s1? .... 15 more pips
and bounce from there
... feel better day by day.
  • #264,055
  • Jun 28, 2010 11:41am Jun 28, 2010 11:41am
Quoting Jhig
Here you are guys ... this is what I see and as most of you know how I trade.

Monthly chart shows pin bar/hammer bar which as we know is a reversal candlestick/bar. At the same time. the reversal bar is reversing off a whole number s/r level 1.20. Assuming the reversal happens, the next whole number is 1.30. This all assumes the reversal happens.

Reversal bars/signals near whole numbers are great indicators of price reversal.
First, where is the hammer on the daily? second, the proper way to trade a pin bar for one is to wait for the bar to close( im sure you know) and two, wait for the pin to break. you can play it aggressive if you want but in this trend, I'd be careful. we are far more likely to range from the recent top to 1800-2000 than break that "not yet pin bar" with any conviction
  • #264,056
  • Jun 28, 2010 11:43am Jun 28, 2010 11:43am
Quoting T@rantula
EUR is targeting 2275 according to Black Widow. If we break 2300 prepare for 2275
Black Widow stings !
  • #264,057
  • Jun 28, 2010 11:48am Jun 28, 2010 11:48am
  •  crmcwi
  • | Joined Mar 2010 | Status: Entrepreneur, Programmer, Analyst | 35 Posts
Quoting Jhig
Here you are guys ... this is what I see and as most of you know how I trade.

Monthly chart shows pin bar/hammer bar which as we know is a reversal candlestick/bar. At the same time. the reversal bar is reversing off a whole number s/r level 1.20. Assuming the reversal happens, the next whole number is 1.30. This all assumes the reversal happens.

Reversal bars/signals near whole numbers are great indicators of price reversal.
Thank you Jhig, that's a pretty cool indication you've shown us.

I think there's so much fundamental uncertainty, that the market will buy dollars and the EUR will be lower during this year. The problem is, how will the market react when the US states start requiring their bailouts? there's already talk of shorting the muni's.

I still see a retrace before the fall though.
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  • #264,058
  • Jun 28, 2010 11:49am Jun 28, 2010 11:49am
we broke 2280. little resistance now, next target is 2260.
  • #264,059
  • Jun 28, 2010 11:51am Jun 28, 2010 11:51am
Okay I am so excited....you know how you have always thought to hold one position for a long time it would probably pay off better than your trading ........ well here is one......

We never going past 1.24 up and down all the way to 1.027......that returns 20 to 1.....so if you calculate your stop at 1.25 and sell all what you have down ...then close your screen and come back on 24/8/2010 you should have 20 times around of what you invested......

this is how long term works......and you can see from the impulse move down that it is a good position for the big dogs.


Quoting Jhig
As I said earlier, 1.23 will have to be reached before a bullish reversal will be in play. In addition I said, 1.23 will be exceeded by 20 pips. Look, price was exceeded 20 pips.

Now i look for my bullish reversal signal with target @ 1.25. (overall trend is long)
  • #264,060
  • Jun 28, 2010 11:53am Jun 28, 2010 11:53am
Quoting uraceulose
First, where is the hammer on the daily? second, the proper way to trade a pin bar for one is to wait for the bar to close( im sure you know) and two, wait for the pin to break. you can play it aggressive if you want but in this trend, I'd be careful. we are far more likely to range from the recent top to 1800-2000 than break that "not yet pin bar" with any conviction
He said the MONTHLY.
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