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  • #281,941
  • Aug 13, 2010 2:26pm Aug 13, 2010 2:26pm
Quoting Agent-Pipen
can you clarify please? I'm not understanding where you would cross trend line up.

Thanks

here it is:

http://img194.imageshack.us/img194/769/33216082.gif
  • #281,942
  • Aug 13, 2010 2:27pm Aug 13, 2010 2:27pm
here u go. right now i am interested in closing my positions as low as possible (of course) but also as soon as possible. pretty tired and don't want to leave positions opened for the weekend.

besides i do agree i could go up some here and i am heavily loaded down. some position shorted just 20 pips up. so if we do go up just 40 or 50 pips (which wouldn't bother at all the downtrend resuming) i would get SLed!

here are the pics.


Quoting Agent-Pipen
can you share with us how you get this 46 or 47 area?
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dreams do come true.
  • #281,943
  • Aug 13, 2010 2:29pm Aug 13, 2010 2:29pm
Quoting jackdan
here it is:

http://img194.imageshack.us/img194/769/33216082.gif

Interesting, I didn't look into the week or monthly. Glad to know that it's showing in the longer TF as well.

Thanks for illustrating how you got that.
  • #281,944
  • Aug 13, 2010 2:30pm Aug 13, 2010 2:30pm
Quoting manojsai
2744 to 2730 is the bounce zone...... mark this post
no doubt about it.. ill even use a chart i posted last Friday against me. normally id agree with you. Just not today.. after what has happened..i am going against my chart and a double bottom.. and a tl and many indis. as always the safer play is to wait for the bounce.
Attached Image
those who can, do. those who cant, talk about those who can
  • #281,945
  • Aug 13, 2010 2:30pm Aug 13, 2010 2:30pm
Quoting Agent-Pipen
Interesting, I didn't look into the week or monthly. Glad to know that it's showing in the longer TF as well.

Thanks for illustrating how you got that.

You can see on your horizontal, i have blue and red spots (support and resistance), all joining on the same place...
  • #281,946
  • Aug 13, 2010 2:33pm Aug 13, 2010 2:33pm
monday will be interesting..
Attached Image (click to enlarge)
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  • #281,947
  • Aug 13, 2010 2:34pm Aug 13, 2010 2:34pm
Quoting wannaberich
here u go. right now i am interested in closing my positions as low as possible (of course) but also as soon as possible. pretty tired and don't want to leave positions opened for the weekend.

besides i do agree i could go up some here and i am heavily loaded down. some position shorted just 20 pips up. so if we do go up just 40 or 50 pips (which wouldn't bother at all the downtrend resuming) i would get SLed!

here are the pics.

If you're risking heavy lots, then I guess it's safer to be getting out before weekend starts.

The chart is showing me what I draw earlier, but then again my own thoughts is that the big boys want to buy Euro by Sunday night. So, if it doesn't go that far down before closing and you're caught inside. There might be a risk of Bull by Sunday night.

Tough call, better safe than sorry.

For now, EY, AU, GU all changing direction.
  • #281,948
  • Aug 13, 2010 2:36pm Aug 13, 2010 2:36pm
Quoting jaylovin
monday will be interesting..
We certainly have concurrence of support, resistance, and trend line, as well a some fibo...

Alo, we have bullish inverted hammer on EC daily ( but don't take it too seriously, beeing ec), and fundamentally speaking, i believe the market still have not priced in the incredible german results today.

So, let's wait and see.... But yes, we will have an interesting monday.
  • #281,949
  • Aug 13, 2010 2:40pm Aug 13, 2010 2:40pm
Quoting wannaberich
here u go. right now i am interested in closing my positions as low as possible (of course) but also as soon as possible. pretty tired and don't want to leave positions opened for the weekend.

besides i do agree i could go up some here and i am heavily loaded down. some position shorted just 20 pips up. so if we do go up just 40 or 50 pips (which wouldn't bother at all the downtrend resuming) i would get SLed!

here are the pics.

Are you out yet? How long until your side of the Market closes? My broker is shady, they cut off like 2 hours before the chart stops moving.
  • #281,950
  • Aug 13, 2010 2:42pm Aug 13, 2010 2:42pm
Quoting uraceulose
lol, i was going to say something. I mean aren't we bouncing now...?

we drop 500 pips and stop a few times...we're 15 pips away from his number and he's guaranteeing(sry for spelling) a rally..ok
I am in no way expecting a rally though. A bounce defined as maybe a 38.2% retrace of a prior minor swing. But good German data or not I am looking for downtrend to continue. I absolutely might be wrong. Time will tell.
  • #281,951
  • Aug 13, 2010 2:44pm Aug 13, 2010 2:44pm
Quoting jackdan
here it is:
Thxs for big axx chart.
  • #281,952
  • Aug 13, 2010 2:45pm Aug 13, 2010 2:45pm
out exactly now would be 287 pips.

still i wait. no signs of bulls in my chicken bones, yet bears look promising for a few more pips.

My broker's open till market closes in the States, so i expect no problems there.

just have to leave the pc now to get my motherinlaw and daughter at the train station but i'll be monitoring from my HTC.

so take the opportunity to wish u guys all a good weekend.

Quoting Agent-Pipen
Are you out yet? How long until your side of the Market closes? My broker is shady, they cut off like 2 hours before the chart stops moving.
dreams do come true.
  • #281,953
  • Aug 13, 2010 2:46pm Aug 13, 2010 2:46pm
Quoting jackdan
We certainly have concurrence of support, resistance, and trend line, as well a some fibo...

Alo, we have bullish inverted hammer on EC daily ( but don't take it too seriously, beeing ec), and fundamentally speaking, i believe the market still have not priced in the incredible german results today.

So, let's wait and see.... But yes, we will have an interesting monday.
As a gut feeling i think we will be ranging for a while now... close my shorts.. have a good weekend all
  • #281,954
  • Aug 13, 2010 2:47pm Aug 13, 2010 2:47pm
Interesting week. Have a good weekend everyone!
  • #281,955
  • Aug 13, 2010 2:53pm Aug 13, 2010 2:53pm
not sure about what you're saying. the short term trend is down, and it should be considered down until proven otherwise.

and even if it is like you say, that big boys are planning to buy euros on sunday night... ask yourself, are they gonna buy enough for a trend change?

i think you can't answer this. first, because you can't possibly know how much are they buying; and second, because this scenario is dead wrong. the trend change does not happen overnight. smart money NEVER EVER buys in bulk!!! it's a very sophisticated process of distribution and accumulation, tests and retests etc and everything is perfectly designed to lure the herd away from the main direction.

you should not care where the bottom is. you need to ride the trend, not pick the bottom or top. get rid of the "don't miss the train" feeling, and wait patiently. if you're in a train station and see a train coming at high speed, are you trying to jump aboard? don't think so... you'd get smashed. you wait until you see it stopping.

WAIT FOR THE TREND. the way i see it now, there's more to the downside. next support is 1.26/upper 1.25; and i won't change my bias until i see price going above this red area -

Quoting Agent-Pipen
...

The chart is showing me what I draw earlier, but then again my own thoughts is that the big boys want to buy Euro by Sunday night. So, if it doesn't go that far down before closing and you're caught inside. There might be a risk of Bull by Sunday night.

Tough call, better safe than sorry.

For now, EY, AU, GU all changing direction.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #281,956
  • Aug 13, 2010 2:59pm Aug 13, 2010 2:59pm
poor euro got destroyed this week, 1.1 is calling you lovely euro
  • #281,957
  • Aug 13, 2010 2:59pm Aug 13, 2010 2:59pm
hi guys I need your help, I am in with heavy positions long near 1,33 since end of last week . I hedge these positions with sell , same quantity, but I got out one hour ago. You discussed about a possible important bounce during sunday night, right? So could be possible for euro to go up near 1,30 right? I was thinking to leave my long without sell hedge for the week end but the risk for me is that if the gap will be down instead up I will reduce my margin a lot...

You guess the possibility to go up is much more than go down ????


Many thanx
  • #281,958
  • Aug 13, 2010 3:02pm Aug 13, 2010 3:02pm
Quoting SunTrader
Thxs for big axx chart.
Why are you so sarcastic today? Maybe he doesn't know how to attach his chart!
  • #281,959
  • Aug 13, 2010 3:02pm Aug 13, 2010 3:02pm
Quoting ibicuy
hi guys I need your help, I am in with heavy positions long near 1,33 since...
If 2725-2695 HOLDS it will bounce but if its shattered like a glass, you are out of fortune my friend. Last hope lies in defending 2568 level...below that...bye bye 33xx
  • #281,960
  • Aug 13, 2010 3:03pm Aug 13, 2010 3:03pm
Quoting ibicuy
hi guys I need your help, I am in with heavy positions long near 1,33 since...
who knows... you must use stops... it might bounce or it might drop further... always use stops - if you are losing that much then you should be out of all your trades and back to the drawing board... start fresh - but then its your call... no one knows what will happen in the future
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