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EURUSD

  • #271,861
  • Jul 15, 2010 12:36pm Jul 15, 2010 12:36pm
2900 has some fight. Seems like more of a case of overbought rather than bears puttin on the gloves.
  • #271,862
  • Jul 15, 2010 12:36pm Jul 15, 2010 12:36pm
Quoting clem699
Bros,today is terrible but i still keep the faith.I know that the euro is not that so strong and sooner it will fall.To contain the drawdown,i decided to hegde the pair.
Euro is not strong but neither does USD. USD has always been strong in crisis 'cause of it's high liquidity and that is believed to be a safe haven. But as I mentioned before, great market movers are fear and greed and I believe that we are in greed mode.

Even if the stress test fail, I think that single fail will benefit the Euro. Cause lowering expectation will probably hike the rates a little feeding risk mode. That's my thought. Good luck!
  • #271,863
  • Jul 15, 2010 12:39pm Jul 15, 2010 12:39pm
Quoting stoxandmore
In our posting on the blog(www.stoxandmore.com), we had recommended to go long on positional basis on the major.

We had recommended a BUY on EUR-USD at 1.2550
We also gave in between intraday swing trade for 50 pips.
Overall, The currency pair has completed the target today with a profit of 350 pips per lot amounting to $ 3500 / Rs.1.6 Lac per lot.
Where did you post that and where did you recommend to put your exit order and stop order? I don't see the recommendation on your blog.
  • #271,864
  • Jul 15, 2010 12:40pm Jul 15, 2010 12:40pm
and especially not Me...

Quoting Walt
Could you explain why 5 pm EASTERN? This is N-Y close, I was told to use either N-Y open or London open, why do you use close? t
It's also the START of the worldwide trading Day in NZ, it's when borkers calculate and pay their Swap, and finally, it Works for me... Like I said, you have 24 choices.

Granted, this is a Huge Debate ((but not for me...)) and at the end of the Day, you still gotta pick one.

Quoting ak4x
I’ve gotten a number of PM’s and emails over time asking me about... While all that is fairly simple, where it gets a little complex is determining the time used for the Basis of calculating the HLC data to get the pivots....

I use a 5pm EST ((or 2100GMT)) for calculating Daily pivots using the HLC data from FX Solutions Accucharts.

Why Does It Matter?

The Basis time for calculating the pivots matters for this reason...
FUBAR...
  • #271,865
  • Jul 15, 2010 12:42pm Jul 15, 2010 12:42pm
Quoting Walt
Could you explain why 5 pm EASTERN? This is N-Y close, I was told to use either N-Y open or London open, why do you use close?

Thanks,

Walt
5pm ET is the open (on Sunday and each day thereafter). No not when most brokers are at their desks but by using this time the indicator is using a 24 hour sequential period day after day from the start of week forward.
  • #271,866
  • Jul 15, 2010 12:43pm Jul 15, 2010 12:43pm
Quoting kandarv
Euro is not strong but neither does USD. USD has always been strong in crisis 'cause of it's high liquidity and that is believed to be a safe haven. But as I mentioned before, great market movers are fear and greed and I believe that we are in greed mode.

Even if the stress test fail, I think that single fail will benefit the Euro. Cause lowering expectation will probably hike the rates a little feeding risk mode. That's my thought. Good luck!
I'm not sure I agree about greed mode as I look at currencies like CAD going down on US, China, and overall global production slow down concerns gives way to fear. I think this will ultimately lead to risk aversion to USD...sooner than later. Just my .02 cents.
  • #271,867
  • Jul 15, 2010 12:46pm Jul 15, 2010 12:46pm
Quoting Maxsmart
Where did you post that and where did you recommend to put your exit order and stop order? I don't see the recommendation on your blog.
Be wary of the stoxandmore site guys it looks like a scam. They are offering financial advice for money. However, their email is a gmail email. You can get a .com domain name for $0.79 and good webhosting for $3 to $10 a month with ssl. And they are operating on a blogspot asking for your personal information and bank account details.

I actually called the trade on July 2, on my site to go long at 1.2527 and I don't want your money. When I finally have time to get my CTA in the next few months, lol I wont be using a blogspot or .webs asking for your money.
  • #271,868
  • Jul 15, 2010 12:49pm Jul 15, 2010 12:49pm
Quoting Maxsmart
Be wary of the stox........
You are helping advertise them (even with a warning) by putting their correct info in a post. Twee will add it to the pile along with this one though.
  • #271,869
  • Jul 15, 2010 12:52pm Jul 15, 2010 12:52pm
heck of a day for me.

too short biased to see the bull coming towards me.

when this happens my stubbornness and anxiety (in terms of trying to correct a mistake too fast, by making another) take over me...

yet again, tomorrow here i am.



Quoting Redeemed1
2900 has some fight. Seems like more of a case of overbought rather than bears puttin on the gloves.
dreams do come true.
  • #271,870
  • Jul 15, 2010 12:54pm Jul 15, 2010 12:54pm
what's your bet til Asia?
dreams do come true.
  • #271,871
  • Jul 15, 2010 12:55pm Jul 15, 2010 12:55pm
what do you guys think? Double top forming on 15m, 30m and 1hr chart?
SIMPLE is best! Let's make our trading and our life SIMPLER!
  • #271,872
  • Jul 15, 2010 12:56pm Jul 15, 2010 12:56pm
The market can make a new high, but the market also likes to retest trendlines and the probability is for 1.2818 to be tested.
There is also a monthly and weekly supply at the high of today.
strong buying pressure today, and I suspect regardless of news it would have been bid up. Reason: some central banks realigning their risk portfolio is a guess and commercial activity.
  • #271,873
  • Jul 15, 2010 12:58pm Jul 15, 2010 12:58pm
Weekly S3 & R3 levels are rarely hit, but it looks good that before tomorrow's close R3 of 1.2988 will be. Lets see.
  • #271,874
  • Jul 15, 2010 12:59pm Jul 15, 2010 12:59pm
Quoting ak4x
and especially not Me...



It's also the START of the worldwide trading Day in NZ, it's when borkers calculate and pay their Swap, and finally, it Works for me... Like I said, you have 24 choices.

Granted, this is a Huge Debate ((but not for me...)) and at the end of the Day, you still gotta pick one.
Thank you for your reply, I will try this setting and see how it goes

Walt
  • #271,875
  • Jul 15, 2010 1:06pm Jul 15, 2010 1:06pm
Quoting SunTrader
Weekly S3 & R3 levels are rarely hit, but it looks good that before tomorrow's close R3 of 1.2988 will be. Lets see.
tomorrow is weekend
no mather what it look like this week will became standart de facto
  • #271,876
  • Jul 15, 2010 1:19pm Jul 15, 2010 1:19pm
Quoting bt062
tomorrow is weekend
no mather what it look like this week will became standart de facto
Maybe in your part of the world but tomorrow for the USA is Friday and "another day at the office".

As for standart de facto something got lost in the translation, I don't have a clue???
  • #271,877
  • Jul 15, 2010 1:20pm Jul 15, 2010 1:20pm
But there is a nice cup and handle formation on the daily.
All that is left in FF is just plain garbage. "Cloggie"
  • #271,878
  • Jul 15, 2010 1:26pm Jul 15, 2010 1:26pm
Quoting SunTrader
Maybe in your part of the world but tomorrow for the USA is Friday and "another day at the office".

As for standart de facto something got lost in the translation, I don't have a clue???
this week will make the high point or low point for the rest of the month
  • #271,879
  • Jul 15, 2010 1:27pm Jul 15, 2010 1:27pm
Quoting Redeemed1
I'm not sure I agree about greed mode as I look at currencies like CAD going down on US, China, and overall global production slow down concerns gives way to fear. I think this will ultimately lead to risk aversion to USD...sooner than later. Just my .02 cents.
Maybe they're leveling up, Euro was hit hard. I see your point and be ready for anything.
  • #271,880
  • Jul 15, 2010 1:46pm Jul 15, 2010 1:46pm
Quoting bt062
this week will make the high point or low point for the rest of the month
Oh Ok. You might be right. I'm thinking the same.
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