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  • #266,601
  • Jul 2, 2010 6:32am Jul 2, 2010 6:32am
That's my view.

1.2550 TP because 168% Fib and Top H4 uptrend and wait if reverse or fly to sky.

Will see, too early to know sure.
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  • #266,602
  • Jul 2, 2010 6:32am Jul 2, 2010 6:32am
Quoting SkyzerFX
We have everything upside down now.. Used to be bad news

was good for USD, now seems bad news, bad for Dollar?.

So USD not a safety currency anymore all of the sudden?

Ok, then what those people buying for safety now?

Look, they buying EUR and selling GOLD and DOLLAR

This is nuts, but true.. Looks like EU will be heeded into

1.26 area today.. Maybe FEDs themselves need weak Dollar

after all, otherwise this market doesn't make any sense.

USDx doesn't look good either.
Yep, nuts but true.
A couple of reasons for the sudden Euro move: Transfer of Gold into Euros to satisfy European bank loans expiry yesterday? maybe Chinese buying Euro at the bequest of the US?
I would say almost certainly that the Fed would like a weaker greenback. They want to avoid double-dip and a strong Dollar hinders them.

It all may be temporary and we'll reverse it all later today, but the exchange of Dollar assets into Euros looks more positioning rather than a trade.

Let's se what the magic of NFP brings us.
  • #266,603
  • Jul 2, 2010 6:44am Jul 2, 2010 6:44am
Quoting Masrim
http://www.acsu.buffalo.edu/~dpadgett/ackbar.jpg
It's a flag!!!
Don't get trapped guys
  • #266,604
  • Jul 2, 2010 6:44am Jul 2, 2010 6:44am
Quoting sami29uk
thank you everyone for your help,

i have lots of fancy indicators but i did needed the S and R lines or indicators

once again thanks ever so much.

sami
Yeah the S&R is very important in trading.
If you are trading S&R levels I would suggest you also put some EMA's on your chart to. Dont trade them like cross overs or anything like that as you will then be using the MA's as a lagging indicator. Use the MA as a leading indicator, so that when price hits it, watch to see if you get a reversal pattern, pin, engulf etc if also the momentum indicator slows and turns it is likely the EMA is good support. try this with the 200EMA on any time frame.
The EMA can also help you identify the trend.
This is how I trade Support and resistance.

Just one thing ive noticed when trading S&R. If the momentum heading towards the S&R is strong its best not to take the reversal signal as that is just a few players taking profit and it will surely bounce a bit of the level, the bounce will take a bit of momentum of the move and most likely test the area again. You can then wait for the second reversal or better trade the MW pattern of the S&R level.

Hope that helps

Byn
  • #266,605
  • Jul 2, 2010 6:48am Jul 2, 2010 6:48am
Quoting Byn
Yeah the S&R is very important in trading.
If you are trading S&R levels I would suggest you also put some EMA's on your chart to. Dont trade them like cross overs or anything like that as you will then be using the MA's as a lagging indicator. Use the MA as a leading indicator, so that when price hits it, watch to see if you get a reversal pattern, pin, engulf etc if also the momentum indicator slows and turns it is likely the EMA is good support. try this with the 200EMA on any time frame.
The EMA can also help you identify the trend.
This...
Excellent post and a great strategy here!
  • #266,606
  • Jul 2, 2010 6:52am Jul 2, 2010 6:52am
will it break the 2530 line at the end of this hour?!?! That's the indication for mega uptrend. It justh as to cross that line, and stay there, damnit. Not another drawback like 5 hours ago (when I started buying at the highest level, 2523!!!) Please break, damnit!
  • #266,607
  • Jul 2, 2010 6:55am Jul 2, 2010 6:55am
Looks like the movement north is in the making.
  • #266,608
  • Jul 2, 2010 6:55am Jul 2, 2010 6:55am
Quoting Liberteh
will it break the 2530 line at the end of this hour?!?! That's the indication for mega uptrend. It justh as to cross that line, and stay there, damnit. Not another drawback like 5 hours ago (when I started buying at the highest level, 2523!!!) Please break, damnit!
We've broken through on the 5 min chart, is that a strong signal to enter a long??
  • #266,609
  • Jul 2, 2010 6:56am Jul 2, 2010 6:56am
it broke
  • #266,610
  • Jul 2, 2010 6:59am Jul 2, 2010 6:59am
I close my positions with loss... dammit... everything earned vanished for this month ... i know its just the begining of the month but ;p

Now for me 90% of transactions isn't from speculators, but from Banks and institutions these days

So yeah..

1.26 probably possible
  • #266,611
  • Jul 2, 2010 6:59am Jul 2, 2010 6:59am
sorry guys with off topic, but have you ever had problems with withdrawals from alpari uk broker?
  • #266,612
  • Jul 2, 2010 7:00am Jul 2, 2010 7:00am
i prefer to wait the nfp.....
  • #266,613
  • Jul 2, 2010 7:00am Jul 2, 2010 7:00am
Damn it....it break thro` 1.2535 with ease.
  • #266,614
  • Jul 2, 2010 7:00am Jul 2, 2010 7:00am
Quoting Liberteh
it broke
Watch OUT, mate!

It can easily be a false break of resistance!

I'm out of trading until NFP comes out and then I'll look carefully for NEWS trap...

Take care of your account!
  • #266,615
  • Jul 2, 2010 7:02am Jul 2, 2010 7:02am
Quoting The flame
i prefer to wait the nfp.....
Is nfp results has great impact this time?
  • #266,616
  • Jul 2, 2010 7:04am Jul 2, 2010 7:04am
I really think this is the highest it will go for now and I expect this to go down to new lows. anyone supporting the bullish move? what's your analysis?
  • #266,617
  • Jul 2, 2010 7:05am Jul 2, 2010 7:05am
Quoting DudeSepii
Is nfp results has great impact this time?
it could then why taking the risk to see all reversed?
  • #266,618
  • Jul 2, 2010 7:05am Jul 2, 2010 7:05am
Good Idea, I closed my position :-)
With just a liiiitle profit, but been waiting 5 hours to get out of the negative PL
I'm gonna come in when the NFP is out too

I've got small amount of money, so 2-3 transactions is all in for me.
I've just been playing the markets game for about 6 days now. Not making a "profit" but learning so freaking much (never been into economics)

DudeSepii: not so easy as it may seems, it seems now
  • #266,619
  • Jul 2, 2010 7:05am Jul 2, 2010 7:05am
this has some resistance at 50
  • #266,620
  • Jul 2, 2010 7:05am Jul 2, 2010 7:05am
where is the "tomorrow this pair will be 1.22" guy ?
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