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  • #285,221
  • Aug 24, 2010 5:11am Aug 24, 2010 5:11am
Another cross related short covering bounce..
Look Sharp/Trade Tight
  • #285,222
  • Aug 24, 2010 5:12am Aug 24, 2010 5:12am
Quoting Sunsi
Why are people adding to shorts with no break the 50fb at he 1.2603 level ?
Closed my short at 1.2608, entry 1.2656. 48pips

And now looking for a bounce. BUY 1.2603, SL@ BE, TP : 1. 2637
I thought the fib was 07....
Look Sharp/Trade Tight
  • #285,223
  • Aug 24, 2010 5:16am Aug 24, 2010 5:16am
Quoting Sunsi
Why are people adding to shorts with no break the 50fb at he 1.2603 level ?
Closed my short at 1.2608, entry 1.2656. 48pips

And now looking for a bounce. BUY 1.2603, SL@ BE, TP : 1. 2637
People are adding to shorts because:

Major Trend: Down
Hourly: Down
4h: Down

Little or no bounce.

2645 was a major number which got broken.

Trendline resistance is now at 2643 so the SL is also manageable.

Lots of people like to trade higher TF's, myself included. To trade those we sell on every bounce. So adding might not necessarily mean that they are adding at the 2603 level, may be wait for a little bounce and add.
  • #285,224
  • Aug 24, 2010 5:16am Aug 24, 2010 5:16am
Watch out guys, equities are trying to rebound as expected.
  • #285,225
  • Aug 24, 2010 5:29am Aug 24, 2010 5:29am
Good morning !!

I am short at 613 TSL 25.. HOpe to see some good start...

EDIT: 603 is the defense that I am expecting to break..
  • #285,226
  • Aug 24, 2010 5:31am Aug 24, 2010 5:31am
comon with these evens...
Look Sharp/Trade Tight
  • #285,227
  • Aug 24, 2010 5:34am Aug 24, 2010 5:34am
Slow growth in Euro region.

http://www.cnbc.com/id/38827903
No Need 2 Say Good Bye...!!!
  • #285,228
  • Aug 24, 2010 5:36am Aug 24, 2010 5:36am
Quoting Sunsi
Why are people adding to shorts with no break the 50fb at he 1.2603 level ?
Closed my short at 1.2608, entry 1.2656. 48pips

And now looking for a bounce. BUY 1.2603, SL@ BE, TP : 1. 2637
looking for a bounce from 2600 to 2585 with maximum target to 2720 and hope to put my shorts from there to 24**.
  • #285,229
  • Aug 24, 2010 5:37am Aug 24, 2010 5:37am
Time to get some coffee and sandwich, small retrace would be proper.
They think they are smarter than I am.
  • #285,230
  • Aug 24, 2010 5:41am Aug 24, 2010 5:41am
Quoting manojsai
looking for a bounce from 2600 to 2585 with maximum target to 2720 and hope to put my shorts from there to 24**.
That's pretty much what I expect too.
  • #285,231
  • Aug 24, 2010 5:41am Aug 24, 2010 5:41am
Quoting Z3iz3i
Time to get some coffee and sandwich, small retrace would be proper.
how about a nice steak and martini...
Look Sharp/Trade Tight
  • #285,232
  • Aug 24, 2010 5:43am Aug 24, 2010 5:43am
Quoting Masrim
That's pretty much what I expect too.
dow 10000 will give the bounce, right?
  • #285,233
  • Aug 24, 2010 5:43am Aug 24, 2010 5:43am
Chart Update. Back on the sidelines.

sisse

Quoting sisse
Chart Update. Getting late on the week. Very tight stops for the weekend and expecting a continuation down until 1.260x next week.

sisse
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd240m31.jpg Size: 70 KB
Pending conversations? PM for a chat...I am mainly in OTM now
  • #285,234
  • Aug 24, 2010 5:45am Aug 24, 2010 5:45am
Quoting manojsai
dow 10000 will give the bounce, right?
Exactly right I think. They'll want to wait for GDP numbers Friday to push it below. Also support eyed on S&P. Let's see how it all works out. It's a psychological play.
  • #285,235
  • Aug 24, 2010 5:45am Aug 24, 2010 5:45am
Are we really gonna see a long downtrend? Bearish for next month?

Thanks.
  • #285,236
  • Aug 24, 2010 5:48am Aug 24, 2010 5:48am
Another Euro Bank News (Source: Bloomberg)

http://www.bloomberg.com/news/2010-0...-earnings.html
No Need 2 Say Good Bye...!!!
  • #285,237
  • Aug 24, 2010 5:50am Aug 24, 2010 5:50am
Quoting Arkhos
Are we really gonna see a long downtrend? Bearish for next month?

Thanks.
We dont know what happened with us after one minute in real then how come we can say that in next month long down trend in real...........
  • #285,238
  • Aug 24, 2010 5:51am Aug 24, 2010 5:51am
Quoting PayTheLimit
how about a nice steak and martini...
Not so bad idea, maybe for dinner?
They think they are smarter than I am.
  • #285,239
  • Aug 24, 2010 5:52am Aug 24, 2010 5:52am
I forgot about fibo Thank You Sunsi.

Perfect bounces from 50% retracment.
Risking 5 pips for high gain SL at round 1.26.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.PNG Size: 45 KB
  • #285,240
  • Aug 24, 2010 5:54am Aug 24, 2010 5:54am
Quoting Shah22
We dont know what happened with us after one minute in real then how come we can say that in next month long down trend in real...........
Nice point. Time to just look at the market.. wait and see moment..

Coffee, martini, steak and or pasta anyone? while we set out and forecast!

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