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  • #270,521
  • Jul 13, 2010 10:41am Jul 13, 2010 10:41am
Quoting sed34
fundamentals is driving this thing. technicals are overbought big time.
Thats what I said early. This move is based on pure fundamentals and those looking at charts and technicals would not has seen it coming. Which is why many traders were entering shorts near 1.25. A lot of trader were burned hard on this play because they decided to hold their shorts and anticipate a reversal but price continued upwards. This upwards move is huge because retail traders are getting in late, the easy money in this up move was made near the bottom.
  • #270,522
  • Jul 13, 2010 10:42am Jul 13, 2010 10:42am
where is the next resistance line?
  • #270,523
  • Jul 13, 2010 10:42am Jul 13, 2010 10:42am
Quoting trigg
mR3 is reached at 1.2714 now. Enter Short at 1.2716 with 10 positions & and set pending orders enter short at 1.2734 again with 10 positions.
Instead of losing steam it is gathering more momentum...damned.
  • #270,524
  • Jul 13, 2010 10:42am Jul 13, 2010 10:42am
Quoting Maxsmart
It depends on your timeframe. If your looking at the shorter timeframe yes. If you look at daily chart the MACD just crossed up a few days ago. If you look at the weekly chart the RSI just now crossing up and MACD is still below. We are still below the 38.2 percent retracement of the bearish medium term downtred from the fall of 1.52.
ok. edit...MY technical setups are overbought.
  • #270,525
  • Jul 13, 2010 10:42am Jul 13, 2010 10:42am
action

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  • #270,526
  • Jul 13, 2010 10:43am Jul 13, 2010 10:43am
Quoting Maxsmart
It depends on your timeframe. If your looking at the shorter timeframe yes. If you look at daily chart the MACD just crossed up a few days ago. If you look at the weekly chart the RSI just now crossing up and MACD is still below. We are still below the 38.2 percent retracement of the bearish medium term downtred from the fall of 1.52.
You call an almost 8-month movement medium term?
  • #270,527
  • Jul 13, 2010 10:43am Jul 13, 2010 10:43am
C'mon baby....just 24 more pips push upwards....you can do it.....
  • #270,528
  • Jul 13, 2010 10:43am Jul 13, 2010 10:43am
seems to me all the banks and hedge funds are bulls and we poor retail traders are bears....cannot fight...anyway, shorted at 1.2730
  • #270,529
  • Jul 13, 2010 10:44am Jul 13, 2010 10:44am
Quoting Jhig
Thats what I said early. This move is based on pure fundamentals and those looking at charts and technicals would not has seen it coming. Which is why many traders were entering shorts near 1.25. A lot of trader were burned hard on this play because they decided to hold their shorts and anticipate a reversal but price continued upwards. This upwards move is huge because retail traders are getting in late, the easy money in this up move was made near the bottom.
oh yes. the shorts are crying now.
  • #270,530
  • Jul 13, 2010 10:45am Jul 13, 2010 10:45am
if this is true then get it ready for the boom
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  • #270,531
  • Jul 13, 2010 10:45am Jul 13, 2010 10:45am
Quoting Jhig
Thats what I said early. This move is based on pure fundamentals and those looking at charts and technicals would not has seen it coming. Which is why many traders were entering shorts near 1.25. A lot of trader were burned hard on this play because they decided to hold their shorts and anticipate a reversal but price continued upwards. This upwards move is huge because retail traders are getting in late, the easy money in this up move was made near the bottom.
depends on your charts
those who can, do. those who cant, talk about those who can
  • #270,532
  • Jul 13, 2010 10:46am Jul 13, 2010 10:46am
how long will this continue, when is the retrace

price is now 1.27283
  • #270,533
  • Jul 13, 2010 10:46am Jul 13, 2010 10:46am
Previous high of 1.2723 is key.

If the H1 and H4 candle closes below this, i will remain bearish. Otherwise i juts might have to close my short from 1.2585. It's on a Dec contract, so i may hedge it with a long towards 1.29 should the bulls start running..
  • #270,534
  • Jul 13, 2010 10:47am Jul 13, 2010 10:47am
What it looks like from here....
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  • #270,535
  • Edited 10:58am Jul 13, 2010 10:47am | Edited 10:58am
Quoting trigg
1.2736 is executed just now.
#270549 ..."set pending orders enter short at 1.2734 again with 10 positions."
Exit at 1.2725

Profit: + 90 pips
  • #270,536
  • Jul 13, 2010 10:47am Jul 13, 2010 10:47am
Quoting sed34
oh yes. the shorts are crying now.
Not the ones that took partial profits and moved to BE+. Profit targets are just that....targets....trades should never be viewed as zero-sum.

Hey gator.....thinking of adding a short around the 46-49 area, PA providing....
  • #270,537
  • Jul 13, 2010 10:48am Jul 13, 2010 10:48am
Quoting Martingale
with which broker do you operate with the forex options?

BTW, we are at R3... crazy!!
Ikon Global Markets. They offer custom OTC options on several currencies including Gold and Silver and the ability to write your own options.
  • #270,538
  • Jul 13, 2010 10:48am Jul 13, 2010 10:48am
Quoting PriceVolume
C'mon baby....just 24 more pips push upwards....you can do it.....
the little train that could
  • #270,539
  • Jul 13, 2010 10:49am Jul 13, 2010 10:49am
I think this surge is done for now. A couple of hours ago, I was dubious reading my stochastic that it was going to go up but it confirmed and a 1/3 of the move was caught up. If there is still more action, I reckon 1.2789 could be the last line. Fractals are appearing on all time frames up until 4H. Now looking for a higher low to ride the trend upward which might not be so soon.
  • #270,540
  • Jul 13, 2010 10:50am Jul 13, 2010 10:50am
Quoting PriceVolume
Not the ones that took partial profits and moved to BE+. Profit targets are just that....targets....trades should never be viewed as zero-sum.

Hey gator.....thinking of adding a short around the 46-49 area, PA providing....
mine's been pending since last week. gonna set one soon above 29xx jw chart of it blows past 46..ill post market charts in a min
those who can, do. those who cant, talk about those who can
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