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  • #269,541
  • Jul 10, 2010 4:01am Jul 10, 2010 4:01am
Expecting more volatilities next week , just a bird's views now .may put some more explanation later.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #269,542
  • Jul 10, 2010 4:06am Jul 10, 2010 4:06am
busy week ahead
  • #269,543
  • Jul 10, 2010 7:18am Jul 10, 2010 7:18am
Draw fibs on Monthly and shadow recent bottoms and look what you get. Now I know the month is not up yet, but you can see a Bullish Wedge forming. Stopping at the 23.6 Fib level on friday was no accident, there is resistance there. Then we go to the Daily and see the Magenta UTL and that is where we are at now. That is why I am short for the time being or until 1.2660 is broken and tested. Techs say 2400 area next, but not in a straight line.

Jim
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  • #269,544
  • Jul 10, 2010 9:33am Jul 10, 2010 9:33am
Quoting Nene
....... Stopping at the 23.6 Fib level on friday was no accident, there is resistance there...............
Take 100% of Thursday's range and add it to Friday's open (using standard 5:00pm ET closing/open times) and you get 1.2693 or very close to the daily high.
  • #269,545
  • Jul 10, 2010 10:24am Jul 10, 2010 10:24am
Never trust anything you sees or hear in forex, 1st in 1st out ,place sl at BE,enjoy all free trades always.

what is BE?
  • #269,546
  • Jul 10, 2010 10:26am Jul 10, 2010 10:26am
Quoting wagner4x
what is BE?
Break even.
  • #269,547
  • Jul 10, 2010 10:30am Jul 10, 2010 10:30am
i would just like to say that the sunday gap :- is nearly showing a nipple ; which means i am nearly offended.

I would also like to point out to the contributors on here that have seen a gazillion summers, and are older than job.That alot of us newer members are trying to get our heads around the weekend gap situation and how we should trade / not trade it.
  • #269,548
  • Jul 10, 2010 10:37am Jul 10, 2010 10:37am
this gap, you are talking, will be down or up? i am short @ 1.26712
  • #269,549
  • Jul 10, 2010 10:54am Jul 10, 2010 10:54am
Quoting wagner4x
this gap, you are talking, will be down or up? i am short @ 1.26712
I wish i could give you a sensible reply , but this puppy could be anywhere tommorow evening . At least you are currently up 30 pips
  • #269,550
  • Jul 10, 2010 11:46am Jul 10, 2010 11:46am
Funny how these things fit like a glove. Pull fibs from the last recent high on the Daily, or the last DTL touch, ( Funny how they coincide ), and look where the 50% Fib level is. It is right there at he DTL where the price is hitting and to top it off, my 89 SMA trend indicator is right there with it. This doesn't happen by coincidence. Now for those of you who are new and don't understand what I am saying. The EUR/USD is a 50% monster and most reversal levels are at or around the 50 % and 61 % Fib levels. Kinda makes you think why people have trouble trading this pair. So look for a possible spike up to the 2800 level but dont bank on it. I am looking toward the 2400 area when its finished.

Just some FYI

Jim

Quoting SunTrader
Take 100% of Thursday's range and add it to Friday's open (using standard 5:00pm ET closing/open times) and you get 1.2693 or very close to the daily high.
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  • #269,551
  • Jul 10, 2010 11:57am Jul 10, 2010 11:57am
Quoting wagner4x
what is BE?
For your next question... Glossary and Acronyms (see Post #1)
FUBAR...
  • #269,552
  • Jul 10, 2010 12:54pm Jul 10, 2010 12:54pm
Quoting Prosac_100Mg
...I would also like to point out to the contributors on here that have seen a gazillion summers, and are older than job.

That alot of us newer members are trying to get our heads around the weekend gap situation and how we should trade / not trade it.
Understood, I agree and think you should.

But that same group of "over the hill" traders do not relish spending their remaining weekends on Planet Earth repeating and/or debating things already posted literally hundreds and/or thousands of times here... so may I suggest the "Search" function? For starters....

http://www.forexfactory.com/showthread.php?t=29331
http://www.forexfactory.com/showthread.php?t=11385
http://www.forexfactory.com/showpost...ostcount=32398
http://www.forexfactory.com/showpost...stcount=227235
http://www.investopedia.com/articles...layinggaps.asp

There's several dozen other Excellent and a few thousand REALLY CRAPPY posts on the topic as well, but I thought you'd have more Fun finding and learning this stuff on your own. If you still want to trade Gaps that is...

BUT once again... Mr Market Can and eventually Will teach you more in the first 3 seconds after YOUR Borkers new Weekly Open than any post ever will. You can try to "get your head" around this all you want, but only sticking your head into the Toilet Bowl and puking your guts up when it goes the Wrong Way on an overleveraged trade will really teach you about "Gaps".

Quoting Prosac_100Mg
... this puppy could be anywhere tommorow evening. At least you are currently up 30 pips
Almost as useful is having a trade that's seriously in the Green on the Friday Close but hits your borkers "next available price" on Open which turns out to be a few hundred pips past your "in profit" SL and instantly ((and without recourse...)) closes you out Negative for a couple hundred bucks... before later returning to the Green side... ((Been there, done that...))

That's all i have to say.
FUBAR...
  • #269,553
  • Jul 10, 2010 1:35pm Jul 10, 2010 1:35pm
Show me what you mean by 50% Fib reversals you say.......Well, just off the top of my head.............

Jim

Quoting Nene
Funny how these things fit like a glove. Pull fibs from the last recent high on the Daily, or the last DTL touch, ( Funny how they coincide ), and look where the 50% Fib level is. It is right there at he DTL where the price is hitting and to top it off, my 89 SMA trend indicator is right there with it. This doesn't happen by coincidence. Now for those of you who are new and don't understand what I am saying. The EUR/USD is a 50% monster and most reversal levels are at or around the 50 % and 61 % Fib levels. Kinda makes you think why people have...
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  • #269,554
  • Jul 10, 2010 2:53pm Jul 10, 2010 2:53pm
Quoting ak4x
BUT once again... Mr Market Can and eventually Will teach you more in the first 3 seconds after YOUR Borkers new Weekly Open than any post ever will. You can try to "get your head" around this all you want, but only sticking your head into the Toilet Bowl and puking your guts up when it goes the Wrong Way on an overleveraged trade will really teach you about "Gaps".
Very true AK, nothing else teaches like the market. I am here reading from you guys with a lot of vouchers to learn from your past mistakes so that I do not make the same. Yet, ultimately "Mr. Market" is always the best mentor.
  • #269,555
  • Jul 10, 2010 3:47pm Jul 10, 2010 3:47pm
I'm short from 1.2703
We had a pretty nice breakout to the downside on the hourly.
Thinking we should head lower but I'll probably exit my trade if we get above 1.2685 or so. Guessing we'll see 1.28 if we get above that point

http://i214.photobucket.com/albums/c...edean/eur3.jpg
  • #269,556
  • Jul 10, 2010 4:34pm Jul 10, 2010 4:34pm
Quoting Prosac_100Mg
That alot of us newer members are trying to get our heads around the weekend gap situation and how we should trade / not trade it.
Is there a gap or is there not? I can't trade on the weekends and the small % that does trade over the weekend is not very meaningful.

It has been my experience that the gap gets filled 90% + of the time and of those somewhat rare instances when it does not--it will usualy make a significant move towards filling the gap even if it does not close it entirely.
  • #269,557
  • Jul 11, 2010 12:21am Jul 11, 2010 12:21am
My 2 cents.
Seems to be at a cross road. 2648 may hold the key.
The last down bar with low volume may bring cheers to the bulls since it indicate low supply or low volume can also be due to it being late friday.
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  • #269,558
  • Jul 11, 2010 1:43am Jul 11, 2010 1:43am
China exports and imports up in the last month. So equity market will get renewed hopes also due to the earnings release this week. I think this will lead gain on Euro. My 2 cents....
  • #269,559
  • Jul 11, 2010 2:05am Jul 11, 2010 2:05am
Do you think earnings will be good? I thought there were 1.2 bad earnings per every good coming... so maybe this was a pump in hopes of recovery?
  • #269,560
  • Jul 11, 2010 5:25am Jul 11, 2010 5:25am
Quoting Nene
So look for a possible spike up to the 2800 level but dont bank on it....

Just some FYI

Jim
Based on my calculations, it is possible but also bear in mind that we have a possible direction congestion above 2740. If we surpass 2765 there will be a strong possibility of touching 28
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