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  • #273,121
  • Jul 19, 2010 11:41pm Jul 19, 2010 11:41pm
Let's see if London is going to reverse Frankfurt in 20 min. As usual.
  • #273,122
  • Jul 19, 2010 11:41pm Jul 19, 2010 11:41pm
Quoting Mr Bull
You know the trends have to end and if you play attention to overbought/oversold conditions you would see that the pair was highly oversold and couldn't go lower. Also, the US news haven't been very good and I wonder what bad news are about to come out in September, the bad news month for US. About today, what can't go down, has to go up, fortunatelly :-)
Good morning everyone!

Overbought/oversold... ohh, come on, mate! Everything has its half and everything can go higher at any time... you can't just rely on these stup!d words... what looks oversold on H1 it does not on D1 and so... just think about it...

Advice for the day is: "trade what you see, not what you want to see!"

This can easily be a bull trap, so my SL on my LONG position is placed at BE +27pips...

Take care! Successful trades all!
  • #273,123
  • Jul 19, 2010 11:42pm Jul 19, 2010 11:42pm
Gotta be the Fed doing this as a weaker USD is needed for better business/manufacturing production for more jobs and overseas markets. Coca-Cola, Catepillar, and companies that do a larger percentage of their business overseas want this and the Feds know it. Throw elections in there with a more conservative government looming in November unless things change probably comes into the equation too.
What I don't get is that EZ needs a weaker Euro for the same reasons.
  • #273,124
  • Jul 19, 2010 11:43pm Jul 19, 2010 11:43pm
Quoting Mr Bull
You know the trends have to end and if you play attention to overbought/oversold conditions you would see that the pair was highly oversold and couldn't go lower. Also, the US news haven't been very good and I wonder what bad news are about to come out in September, the bad news month for US. About today, what can't go down, has to go up, fortunatelly :-)

Europe news hasn't been good either. Somebody is just matching selling pressure during bad euro news with buying, thus the reason it won't go down. The run down from December 09 up until recent was justified. Euro was rallying against the dollar under false beliefs. Look how quickly the euro turned around and how quickly sentiment shifted from doom and gloom of the euro to oh... everything is fine. All happened within a few days. Do you really believe this? Large traders know they can move the markets and the media will find any way to explain this. All the smaller traders will then believe the media and just like that, you can control everybody. I'm not sure how long this bull run is going to last, but when whoever is propping this thing up decides to let it go, look out below.
  • #273,125
  • Jul 19, 2010 11:45pm Jul 19, 2010 11:45pm
I went long on GBPUSD yesterday at 1.5229 using a 50% fib pullback on 4hr charts also it was res becoming supp. Target 1.5440
Listening to everyone here is very helpful. Lovin Jays comments.
Using your guys thought on Euro strength have still got two short positions open and profitable on USDCHF
  • #273,126
  • Jul 19, 2010 11:45pm Jul 19, 2010 11:45pm
Quoting Awesome
Europe news hasn't been good either....
You got the point, mate! BIGUPS! Exactly the same thoughts here.
  • #273,127
  • Jul 19, 2010 11:50pm Jul 19, 2010 11:50pm
Quoting Atomanti
Good morning everyone!

Overbought/oversold... ohh, come on, mate! Everything has its half and everything can go higher at any time... you can't just rely on these stup!d words... what looks oversold on H1 it does not on D1 and so... just think about it...

Advice for the day is: "trade what you see, not what you want to see!"

This can easily be a bull trap, so my SL on my LONG position is placed at BE +27pips...

Take care! Successful trades all!
Morning to you & all . well said.waitng it back to tl at 1.2970 to 62 for the long perhaps .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #273,128
  • Jul 19, 2010 11:51pm Jul 19, 2010 11:51pm
Rules of Engagement:

1.PA crossed above 1.3000 and 3h resistance @2986

2. Wait for pullback

3. Enter long

4. Take profit
  • #273,129
  • Jul 19, 2010 11:52pm Jul 19, 2010 11:52pm
Quoting Atomanti
Good morning everyone!

Overbought/oversold... ohh, come on, mate! Everything has its half and everything can go higher at any time... you can't just rely on these stup!d words... what looks oversold on H1 it does not on D1 and so... just think about it...

Advice for the day is: "trade what you see, not what you want to see!"

This can easily be a bull trap, so my SL on my LONG position is placed at BE +27pips...

Take care! Successful trades all!
Oversold on H1?!!! Do you think big boys care to check overbought/oversold conditions in H1? Are they scalpers? I don't think so. They look at the higher timeframes like H4, daily and weekly so those are the ones traders should check even if they are scalpers, just to have an idea of the big picture.
  • #273,130
  • Jul 19, 2010 11:54pm Jul 19, 2010 11:54pm
Quoting T.E.Lawrence
Rules of Engagement:

1.PA crossed above 1.3000 and 3h resistance @2986

2. Wait for pullback

3. Enter long

4. Take profit
great plan, but what is the pullback point?
  • #273,131
  • Jul 19, 2010 11:55pm Jul 19, 2010 11:55pm
Quoting T.E.Lawrence
Rules of Engagement:

1.PA crossed above 1.3000 and 3h resistance @2986

2. Wait for pullback

3. Enter long

4. Take profit
Pullback to 2986?
  • #273,132
  • Jul 19, 2010 11:57pm Jul 19, 2010 11:57pm
Quoting fontu
Morning to you & all . well said.waitng it back to tl at 1.2970 to 62 for the long perhaps .
fontu
I agree with you, a retest @ 2070 seems very reasonable. Lot of support onthe downside.
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  • #273,133
  • Jul 20, 2010 12:02am Jul 20, 2010 12:02am
Pullback. Not PA back @some level. Pullback as a confirmation. Google 'forex/trading pullback'.
  • #273,134
  • Jul 20, 2010 12:04am Jul 20, 2010 12:04am
Quoting Mr Bull
Oversold on H1?!!! Do you think big boys care to check overbought/oversold conditions in H1? Are they scalpers? I don't think so. They look at the higher timeframes like H4, daily and weekly so those are the ones traders should check even if they are scalpers, just to have an idea of the big picture.
I though you will reply on my comment, but honestly I don't really care about it... what I was trying to tell you that every price beatable and this is a fact.

My mentor is always saying that we need to trade the fact that can be seen on charts... not the news, not the stup!d guessing. He is damn right, actually.

Sometimes we can see some strange moves, but in long term the technical analysis the only one thing we can trust in... no guessing and no other sh!t like that makes you a successful trader... you gotta have a strategy that makes more profit and less loss... this is the key of success.

Take care!
  • #273,135
  • Edited 1:54am Jul 20, 2010 12:06am | Edited 1:54am
Quoting Awesome
Europe news hasn't been good either. Somebody is just matching selling pressure during bad euro news with buying, thus the reason it won't go down. The run down from December 09 up until recent was justified. Euro was rallying against the dollar under false beliefs. Look how quickly the euro turned around and how quickly sentiment shifted from doom and gloom of the euro to oh... everything is fine. All happened within a few days. Do you really believe this? Large traders know they can move the markets and the media will find any way to explain this....
I agree the news haven't been good for either side. But the fundamental data have been worst for US and better for Europe. Forget the Greece problems and other things like that. "Those are out of season". By the time euro started to climb, the pair was in the 6th week of an weekly oversold chart. If you look at the daily chart you will see a reverse head and shoulders pattern. Do you think that happened in a few days? From the technical point of view, what really caused the fast rise of the euro was everybody trying to cover or unload their positions. Some people were caught offguard. Some didn't :-)
  • #273,136
  • Jul 20, 2010 12:08am Jul 20, 2010 12:08am
"if your trying to accumulate you buy dips or create selling pressure and buy up that pressure...." Who told you that ....Lol, Are you for real?.

Common man, currency moves are more than price reacting to a couple of squiggly lines and a conspiracy theory....

In any case good luck with your trading.

sisse



Quoting Awesome
Yeah, this whole thing is BS....
Pending conversations? PM for a chat...I am mainly in OTM now
  • #273,137
  • Jul 20, 2010 12:09am Jul 20, 2010 12:09am
Bought at the top... 2968 plus some little fiddlefart 5th digit I refuse to aknowledge atm...



Stay nimble... it's not always what you think. G'nite...

Attached Image
FUBAR...
  • #273,138
  • Jul 20, 2010 12:11am Jul 20, 2010 12:11am
Quoting T.E.Lawrence
Rules of Engagement:

1.PA crossed above 1.3000 and 3h resistance @2986

2. Wait for pullback

3. Enter long

4. Take profit
Guys, Mr. T.E.Lawrence is not shaman, he just offered one of the possible PA, so asking pullback to which price level and so dont help you too much. Think by yourself what is going and where and why i can trade. Just have your plan.
ready or not her we go
  • #273,139
  • Jul 20, 2010 12:13am Jul 20, 2010 12:13am
Quoting Atomanti
I though you will reply on my comment, but honestly I don't really care about it... what I was trying to tell you that every price beatable and this is a fact.

My mentor is always saying that we need to trade the fact that can be seen on charts... not the news, not the stup!d guessing. He is damn right, actually.

Sometimes we can see some strange moves, but in long term the technical analysis the only one thing we can trust in... no guessing and no other sh!t like that makes you a successful trader... you gotta have a strategy that makes more...
You are exactly right. We need to trade the fact that can be seen on charts specially those on the higher timeframes because they are more accurate and because like you said in LONG TERM the technical analysis is the only one thing we can trust.
  • #273,140
  • Jul 20, 2010 12:16am Jul 20, 2010 12:16am
good morning traders. It is 09:15 AM in South Africa. London just opened, and lets see how many pips can we bank today.

This is what I see on the H4 and the H1...

Attached Image (click to enlarge)
Click to Enlarge Name: EUR H4.jpg Size: 54 KB

Attached Image (click to enlarge)
Click to Enlarge Name: EUR H1.jpg Size: 57 KB


Happy trading
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