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EURUSD

  • #276,181
  • Jul 29, 2010 6:46am Jul 29, 2010 6:46am
Quoting beyond
Why can't we go lower?
as per my chart 3071 is a support point and next below is 3042 and below 3017.
3042 is a triple top area which is now triple support. us session will take care of it with a nice spike down hopefully .
volume bar shows still nice buying activity.
  • #276,182
  • Jul 29, 2010 6:48am Jul 29, 2010 6:48am
This red line would be place wheare i see it first.Then will see.
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  • #276,183
  • Jul 29, 2010 6:48am Jul 29, 2010 6:48am
Quoting beyond
Sorry, I thought we did what the price says, not the price do what we say?
we do what the price say and chart tell us if price follow what we think and we say then everyone will be millionaire here hahah

Ub
  • #276,184
  • Jul 29, 2010 6:50am Jul 29, 2010 6:50am
Quoting NZR
Open shorts postions @
EURUSD: 1.3080 ---- Target: 1.3026 ------ SL: 1.3106
BPUSD: 1.5645 ------ Target: 1.5595 ----- SL: 1.5686

Lets see what happens
BPUSD target amended to 1.5587
  • #276,185
  • Jul 29, 2010 6:52am Jul 29, 2010 6:52am
I think this candle will go to 3000 bounce to 3030 in 4 hours of ranging before next move down to 2900 eight hours from now. Think I've found the future! Been looking at it all week.
Founder of Sutherland Wave Principle
  • #276,186
  • Jul 29, 2010 6:56am Jul 29, 2010 6:56am
Quoting NZR
BPUSD target amended to 1.5587
can you pl tell why 5595 has been changed to 5587
  • #276,187
  • Jul 29, 2010 6:59am Jul 29, 2010 6:59am
Quoting suthmo
I think this candle will go to 3000 bounce to 3030 in 4 hours of ranging before next move down to 2900 eight hours from now. Think I've found the future! Been looking at it all week.
errr, reason being?
  • #276,188
  • Jul 29, 2010 7:00am Jul 29, 2010 7:00am
Who belives in sell this realy good place.61 fib and 38 but for me i think i will looking for buy untill upper red line or 200 daily ema
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  • #276,189
  • Jul 29, 2010 7:01am Jul 29, 2010 7:01am
Quoting learntowin
I am out now

EUR / USD @ 1.3080

GBP / USD @ 1.5630

AUD/ USD @ 0.9030

USD / CHF @ 1.0460

Rest for a while before Reenter again

Anyone can suggest points to Reenter again ?

TKS
  • #276,190
  • Jul 29, 2010 7:02am Jul 29, 2010 7:02am
Next - 1.3000 ?????????????????
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Fools Rushing
  • #276,191
  • Jul 29, 2010 7:02am Jul 29, 2010 7:02am
whether we can go lower or now, i'm outta here
  • #276,192
  • Jul 29, 2010 7:07am Jul 29, 2010 7:07am
Quoting witsnpips
errr, reason being?
I can't sell the goose that lays the golden egg. Not until the legal disclaimer and affiliate program are in place.
Founder of Sutherland Wave Principle
  • #276,193
  • Jul 29, 2010 7:08am Jul 29, 2010 7:08am
Quoting learntowin
Anyone can suggest points to Reenter again ?

TKS
Missed the train? Looking for a schedule? Yes, there is one. But it costs. How much? Your whole account, son.
  • #276,194
  • Jul 29, 2010 7:11am Jul 29, 2010 7:11am
I see where are you coming from. Although your link between monetary policy and housing marking is true I don't think this is the case right now in the Euro Zone (yes Spain, Ireland have housing related problems too). The actual european bank struggles are related more to sovereign debt risk aspects rather than internal housing market.

Also the key problems of the euro are not only related to the banking sector but to the lack common fiscal policy (or the lack of national monetary policy if you want to take the other side) so the fiscal mismanagement of some cannot be corrected (like in the old times) using monetary policy (devaluation, interst rate, etc), and on the other hand, ECB inflation control monetary policy is not necessarily a good thing for struggling economies (like Spain, Greece, etc).

In any case, and having in mind that inflation is under control in Europe (so far) and excluding all other fundamental factors I thing mini bottom was also related that the sovereign debt crisis panic factor was removed from the equation .... now it can orderly move down it things dont improve.

Here is a quick overview of the European Debt crisis (is not a trading chart is a fundamental chart)

sisse


Quoting gatorinla
it was in the news for months. e-banks and the stress test. they needed x amount of cash in reserves. so to get this they horded euros thus making euros in short supply the last month plus. hording euros made the value of the euro increase. by removing them from the system. not all banks are yet fully funded. (the 7 failed ones). so in supply verses demand there are less euros (credit) to loan. less euros loaned means less houses sold.(less everything sold). so it becomes a buyers market and home prices are reduced. making the mortgages held by...
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Pending conversations? PM for a chat...I am mainly in OTM now
  • #276,195
  • Jul 29, 2010 7:15am Jul 29, 2010 7:15am
Quoting manojsai
can you pl tell why 5595 has been changed to 5587
Bcoz i think GBUSD will amend its low...
  • #276,196
  • Jul 29, 2010 7:16am Jul 29, 2010 7:16am
Quoting T.E.Lawrence
Missed the train? Looking for a schedule? Yes, there is one. But it costs. How much? Your whole account, son.


Yes, Thank you very much Sir,

But i got some nice pips in last Trades

So maybe it worth risking some pips to Reenter again

I dont want to miss a thing

Inserted Video
  • #276,197
  • Jul 29, 2010 7:23am Jul 29, 2010 7:23am
I've been enjoying reading this thread all night. Just got into Forex 2 months ago. This morning was my first live trade and it went extremely well! I did not understand why everyone was taking shorts this morning and decided to stick with my strategy instead of listening to the consensus (sorry folks, but you were wrong)! There has been no good news coming out of the US for the past few weeks to give the Dollar any bias for me.

From my trade journal:

 

  1. 7-29-2010 3:30AM – Reading the forums everyone seems to be taking shorts. My rule is to never short in a bull market regardless of what resistance we are encountering; I’d rather just stay out as my probability of success with a short is less than a long. I woke up to find that the previously established resistance level for the past few days had been broken and was now being tested as support.

    1. 4:09 AM – Once support was established I read my indicators, waited for my 5/8 MA cross and pulled the trigger. The market shot up! I was able to move my SL to BE within a few minutes and just kept riding it up. I set a target at 50 pips.
    2. 4:30 AM – Got greedy, bad bad! I wanted to increase my long so I took another long trade. Should have taken a step back and looked at everything because I took it at the R2 rather than wait for a pull back. Sure enough, it hit R2 as resistance and went down. I watched myself get close to a Net BE on the two thinking that my first trade was going to be a learning experience in not getting greedy. Price did not pull back a whole fib but eventually went it back up. It touched my target of 50 pips which I had raised due to price action (and greed) a few times before starting to range.
    3. 7:11 AM – After watching price range above R2 and kissing my initial target TP I decided to be disciplined and get out the next time it hit my TP. Close enough again and I got out. Watched a few seconds it go up but stayed content in the knowledge that “hell yea, I have confirmed profit!” Then, market went down. Almost as perfect a trade as Monday. Market looks to be heading back down, might look for another long opportunity but with the market action and resistance it met I would expect a double top today.

  • #276,198
  • Jul 29, 2010 7:35am Jul 29, 2010 7:35am
let 's go down
ブードゥー教
  • #276,199
  • Jul 29, 2010 7:36am Jul 29, 2010 7:36am
im out till tomorrow morning.......still has a little bit more room to go
  • #276,200
  • Jul 29, 2010 7:37am Jul 29, 2010 7:37am
Quoting Norok
I've been enjoying reading this thread all night. Just got into Forex 2 months ago. This morning was my first live trade and it went extremely well! I did not understand why everyone was taking shorts this morning and decided to stick with my strategy instead of listening to the consensus (sorry folks, but you were wrong)! There has been no good news coming out of the US for the past few weeks to give the Dollar any bias for me.
I totally agree. This could be one of those times where 95% experts are wrong. I'm sorry too for those who went short already.
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