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EURUSD

  • #264,821
  • Jun 29, 2010 3:28pm Jun 29, 2010 3:28pm
Quoting DMA Trader
i think we are going to see another attempt to break the 86.25 on USX tonight or tomorrow.
last time (6 hour ago) in that lvl( 86.25), eu/usd was 1,2170, right?
  • #264,822
  • Jun 29, 2010 3:30pm Jun 29, 2010 3:30pm
12 hr chart... check out how the price is "bending" the lower band w/o any retrace back into the channel. That's usually a continuation sign.

Attached Image


Piercing the band almost always gives retrace rather soon ((depending on the TF involved of course)), but when you have a Failure to retrace like this, that's always worth putting the old Stink Eye on...

6hr chart also Closes current candle at 7pm CST (same as 12h) and breaks down the detail for you candle watchers. Some of the Retracement Over signs were just too obvious...

Waiting for PA to confirm what I'm already seeing. All shorts intact... and holding.
FUBAR...
  • #264,823
  • Jun 29, 2010 3:31pm Jun 29, 2010 3:31pm
Quoting SunTrader
They might have kept the S&P cash on the plus side of 1040 but not the futures.

Hit a low 1030.25 and presently floating around 1036.50

Keep in mind the spread of about 4-5 points
  • #264,824
  • Jun 29, 2010 3:40pm Jun 29, 2010 3:40pm
Quoting iflyjetzzz
I'm a neophyte with the technicals, but I understand the fundamentals well. The trend over the last couple of years has been risk on - money flows out of the USD and JPY; risk off - money flows into the USD and JPY.

I chose to go long one the strongest currencies - the USD and short the weakest currency - the EUR. (There are a couple of other minor currencies in worse shape but they're not nearly as liquid).

I understand Masrim's concern about the US economy and share those concerns. However, the USD (and JPY) is the best looking horse in the...
Thats a great post, thanks.
  • #264,825
  • Jun 29, 2010 3:45pm Jun 29, 2010 3:45pm
Quoting cagriguler
Daily Trade: Sell Limit @ 1.2290 SL: 1.2350 and TP1: 1.2260 TP2: 1.2215

Long Term Trade: Open Position 2 weeks ago: Short @ 1.2399 and SL: 1.2500 TP1: 1.2090 ( Hold )

Good Luck
Daily Trade Today +75pips gain

Long Term Trade: now +212 pips ( position holding ) Next Target: 1.2090

Good Luck.
  • #264,826
  • Jun 29, 2010 3:49pm Jun 29, 2010 3:49pm
U/C
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Follow the Trend, thats all
  • #264,827
  • Jun 29, 2010 3:51pm Jun 29, 2010 3:51pm
Quoting sidhujag
Keep in mind the spread of about 4-5 points
ES traded at 1037.25 on 400pm (et) cash closing and then 1034.75 at their 415pm (et) futures close. Now on the globex reopen it is down slightly further at 1034.25
  • #264,828
  • Jun 29, 2010 4:05pm Jun 29, 2010 4:05pm
Pivots from 5pm EST...

This range is HUGE!! Mind your Qp's and Sp's ...

Attached Image
FUBAR...
  • #264,829
  • Jun 29, 2010 4:28pm Jun 29, 2010 4:28pm
Quoting ak4x
Pivots from 5pm EST...

This range is HUGE!! Mind your Qp's and Sp's ...

Attachment
Yea i like this range idea a lot and ive been saying this the past week.....ur sr and pivots are in agreement with my entries, so i get a type of warm fuzzy feeling inside

anyways, I'm going long (wow did I just say this?!) (orders staggered) b/n 2108-2080....stops just below 2000. This trade has a great RR ratio and the way I see 2000 as a large barrier protection makes me feel even better about it. Target is 2460 high, from which ill short for 2080 as target.....2500 should act as a strong opts barrier as well for summer ranging (if this is the case?). Ive set my orders, so either way long or short from approx 2100 or 2460.....
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  • #264,830
  • Jun 29, 2010 4:31pm Jun 29, 2010 4:31pm
still the same
Inserted Video
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those who can, do. those who cant, talk about those who can
  • #264,831
  • Jun 29, 2010 4:32pm Jun 29, 2010 4:32pm
Look how precisely they touched bottom line of the downtrend chanel !
You can seen also the bulish area. (over the line) I hope it is not only corrective chanel. It stil looks it is but I think they will not touch top line and the bottom line of chanel should be broken.
Bears are not enough strong to break neckline but they will do soon... I hope :-))
Attached Image (click to enlarge)
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  • #264,832
  • Jun 29, 2010 4:33pm Jun 29, 2010 4:33pm
Quoting mfoste1
Yea i like this range idea a lot and ive been saying this the past week.....ur sr and pivots are in agreement with my entries, so i get a type of warm fuzzy feeling inside

anyways, I'm going long (wow did I just say this?!) (orders staggered) b/n 2108-2080....stops just below 2000. This trade has a great RR ratio and the way I see 2000 as a large barrier protection makes me feel even better about it. Target is 2460 high, from which ill short for 2080 as target.....2500 should act as a strong opts barrier as well for summer ranging...

I think youve overslept

You should have done that 1 MONTH ago and short it at 1.24XX week ago... that would make up your plan perfectly... good job on charts mate, but that was HISTORY
  • #264,833
  • Jun 29, 2010 4:35pm Jun 29, 2010 4:35pm
Quoting mfoste1
summer ranging (if this is the case?)....
Caveat... this is shaping up to be a "non-typical" summer... acceleration of the commercial properties default, the whole EU mess, very strained int'l situations on several fronts, etc...

So the typical "summer range" may be a non-starter this time... Just remembering mid July '07...


Step softly my friend... no one wants to hear that "click"

((and to clarify... the "Huge Range" I was referring to was the Daily Pivot range... ))
FUBAR...
  • #264,834
  • Jun 29, 2010 4:47pm Jun 29, 2010 4:47pm
Quoting ak4x
Caveat... this is shaping up to be a "non-typical" summer... acceleration of the commercial properties default, the whole EU mess, very strained int'l situations on several fronts, etc...

So the typical "summer range" may be a non-starter this time... Just remembering mid July '07...


Step softly my friend... no one wants to hear that "click"

((and to clarify... the "Huge Range" I was referring to was the Daily Pivot range... ))
yea man thats the only sense of doubt i have....this eu historically does pretty bad in july.....and those were in "boom times" before july 08......we'll see how it approaches 2100, should tell a lot whether this range is shakespeare. If its clear its gonna plow through 2100 ill pull my orders....
  • #264,835
  • Jun 29, 2010 5:01pm Jun 29, 2010 5:01pm
Has anyone noticed a Morning Star on h1?
  • #264,836
  • Jun 29, 2010 5:16pm Jun 29, 2010 5:16pm
Quoting T@rantula
Has anyone noticed a Morning Star on h1?
yep see it here too also got the turning point by then from the 4 level zz semafor. im long until 1.2250. after that short until around 1.2050
  • #264,837
  • Jun 29, 2010 5:24pm Jun 29, 2010 5:24pm
Quoting ido370
yep see it here too also got the turning point by then from the 4 level zz semafor. im long until 1.2250. after that short until around 1.2050
I was thinking about 2230, as I still have a long in play.
  • #264,838
  • Jun 29, 2010 5:26pm Jun 29, 2010 5:26pm
NEVER trade against the trend.

Quoting ido370
yep see it here too also got the turning point by then from the 4 level zz semafor. im long until 1.2250. after that short until around 1.2050
Follow the Trend, thats all
  • #264,839
  • Jun 29, 2010 5:28pm Jun 29, 2010 5:28pm
Quoting pauly
NEVER trade against the trend.
i know.. i think its just a retracement and then continue the down trend so i'm not against it, and its just how it looks now for me. it can always turn around and change my orders. but thanks for the notice
  • #264,840
  • Jun 29, 2010 5:30pm Jun 29, 2010 5:30pm
Quoting T@rantula
I was thinking about 2230, as I still have a long in play.
around 61.8 fibo should be a nice point, i think it will make it just a little bit further with max of around 1.2260 and then down again.
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