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  • #285,441
  • Aug 24, 2010 10:23am Aug 24, 2010 10:23am
Home sales data shows americans like to stay under open air
Just kidding
You cannot learn better without losing
  • #285,442
  • Aug 24, 2010 10:26am Aug 24, 2010 10:26am
Quoting sisse
...how poorly the Germans have managed the EURO? (based on what??? why?)/ If EURO gets any lower (is still 30% higher than parity with the US) I don't quite understand where are you coming with your comments but in any case, yes i see what you mean with people will move to the dollar if short term get nasty.

Good luck with your trading.

sisse
Dont you get it?? if im correct more than 15 EUROPEAN COUNTRIES are on EURO... and hell.. Merkel and the retarded Greek Retirement policy probably fueled the EURO failure... just look since the EURO's initiation... its lost back all the incentives... and i wont be surprised to see EURUSD going to parity by 2012... if big banks in US or in EUROPE are fueling the EURO Upwards for a short moment...
The fact is US wants to be strong... its probably gona test 1.16 in a couple of weeks again...

Not trying to be personal here but my dad is paid in EURO for his work and im concerned about the pay more and more these days... even engaged in a long term deal to invest in RMB... got a Chinese Yen Account and im planning to enter some time soon now and put the money in there for i dunno 5 years...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #285,443
  • Aug 24, 2010 10:26am Aug 24, 2010 10:26am
What happened in this Bullish movement was completely emotional, you could see in S&P500 daily chart that the USD has still the power, and EURO has not had anything lately to changhe the movement for it, to maybe change to Bullish in this chart could be the price 1.2548.
  • #285,444
  • Aug 24, 2010 10:28am Aug 24, 2010 10:28am
Quoting Mr Bull
Why would they leave? A weaker euro is what all the EZ members want in order to boost their exports.
yea to where would the allow the Euro to slip??
trust me when EURO gets down to parity with USD
big chances are whatever the products they sell they wont be able to recover any of the capital invested...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #285,445
  • Aug 24, 2010 10:28am Aug 24, 2010 10:28am
expect the price to go higer may be 1.2750 area in 3 waves if this is a retracment so watch at this level for a reversal to go down 1.2565 . the price shouldnt go above 1.2780 for this to be a retracment if it broke the level 1.278 dont be short and look for longs
  • #285,446
  • Aug 24, 2010 10:29am Aug 24, 2010 10:29am
Quoting gatorinla
#1 bull complete. 2698 #2 goes to 2748... i got a resistance at 2749.. but it still has to get back above 2698. 2698 will become st soft resistance. its building a bull flag. but it may turn into a bear flag if it dont get off the pot. 5m
I know your a legend in here and all..
But the neckline is 1.2731.
Do you really think its gonna break the neckline?
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  • #285,447
  • Aug 24, 2010 10:31am Aug 24, 2010 10:31am
Hi,
What do you use as a congestion indicator?
BR
Sasa

Quoting T@rantula
On my previous post I implied the importance of 2560 level. 38.2 FIBO
While it HOLDS, and i mean HOLDS, we can see 3000 levels again. Im not implying it will happen or no, its just a possibility according to fibo levels and MM.

As far as this INTRADAY trade goes,I have been a patient trader today
One of the reasons why I dont like trading EU on RANGING markets as there is a lot of false entries and signals. Fortunately enough a congestion indicator has made a job easier. Remember its always better to stay out of trade and SAVE ur money then enter...
  • #285,448
  • Aug 24, 2010 10:34am Aug 24, 2010 10:34am
Quoting sisse
...how poorly the Germans have managed the EURO? (based on what??? why?)/ If EURO gets any lower (is still 30% higher than parity with the US) I don't quite understand where are you coming with your comments but in any case, yes i see what you mean with people will move to the dollar if short term get nasty.

Good luck with your trading.

sisse
who gets credit for the 30%?
those who can, do. those who cant, talk about those who can
  • #285,449
  • Aug 24, 2010 10:35am Aug 24, 2010 10:35am
railroads everywhere, big railroads ......
  • #285,450
  • Aug 24, 2010 10:38am Aug 24, 2010 10:38am
Quoting longshot_nl
I know your a legend in here and all..
But the neckline is 1.2731.
Do you really think its gonna break the neckline?
1.2750 is the neck line on mothly time frame the H&S you show on the chart is not symmetrical as the shoulder didnt go up enough to 1.3 to make it may be very important
  • #285,451
  • Aug 24, 2010 10:49am Aug 24, 2010 10:49am
Quoting nawafasad1
1.2750 is the neck line on mothly time frame the H&S you show on the chart is not symmetrical as the shoulder didnt go up enough to 1.3 to make it may be very important
Doesn't need a shoulder to go so far, I have rarely seen academic H&S like they write in books etc
  • #285,452
  • Aug 24, 2010 10:51am Aug 24, 2010 10:51am
Quoting longshot_nl
I know your a legend in here and all..
But the neckline is 1.2731.
Do you really think its gonna break the neckline?
hey i got .858 on my charts.. lets me clarify.. 0.8580 ... there was gonna be a bounce there at the low no matter what. many of us posted it earlier and months ago, in our charts. so if this is all the euro has with the bad news reported. then its worse then i thought.
bad u.s. news is bad for the euro. bad euro news is bad for the euro. good euro news is only good for a little while. just let the dust settle. your living in history. now on the 5m chart lets see what we can do to make a bear flag. or a bart simpson top... bs for short.
those who can, do. those who cant, talk about those who can
  • #285,453
  • Aug 24, 2010 10:52am Aug 24, 2010 10:52am
Not only did the dollar sell off but also the Yen which is interesting and the market found buyers when we briefly dipped under DOW 10000. SPY hit my target of 105 briefly. Too bad EUR/USD hasnt made it down to 1.25 yet. I went from up 12k to 7500 in a matter of minutes and the fact that I couldn't get out of trade because of my dumb broker made me panic like a rookie and get out as soon as I got them on the phone. I'm so pissed at myself. It takes me a long time to unwind positions because of all of them were playing a bear market. Not too diversified Anyways...

We are getting a taste here though. It looks like what I postulated before. The markets are still considering further QE measures from the FED so if the numbers come in too bad we can still see USD weakness. We may see this materialize with GDP Friday as well if the number is terrible. For USD strength we need slightly worse than expected or inline it seems
  • #285,454
  • Aug 24, 2010 10:57am Aug 24, 2010 10:57am
I'm sure many of you already using it but for the benefit of those who may not heard of it yet.

I use the following simple but HIGH risk news trading strategy (if it can be called a strategy).

Just before (about 1 min or 30 sec before) news release I take two positions with at least 10 lots - Short/Long as fast as I can enter. No S/L. As it become clear (usually but not always) which way it's going, I cancel the non functioning entry. Once the momentum starts slowing down I close my position. No scaling, no waiting.

As said this is quite a risky method but it suits my style (scalping) of trading. Today's news move gave me a quick 49 pips.
  • #285,455
  • Aug 24, 2010 10:59am Aug 24, 2010 10:59am
LOL, funny comment. Daytrading using a phone & not only that but listening to him .... long time to unwind positions on the SPY? why dont you trade the ES ....you must be trading millions to have liquidity problems.... lol you made my day.

sisse

Quoting Maxsmart
I went from up 12k to 7500 in a matter of minutes and the fact that I couldn't get out of trade because of my dumb broker made me panic like a rookie and get out as soon as I got them on the phone. I'm so pissed at myself. It takes me a long time to unwind positions because of all of them were playing a bear market. Not too diversified Anyways...
.
Pending conversations? PM for a chat...I am mainly in OTM now
  • #285,456
  • Aug 24, 2010 11:05am Aug 24, 2010 11:05am
Quoting sisse
LOL, funny comment. Daytrading using a phone & not only that but listening to him .... long time to unwind positions on the SPY? why dont you trade the ES ....you must be trading millions to have liquidity problems.... lol you made my day.

sisse
I had a custom OTC FX option PUT @ 1.29. So I have to get an RFQ to get out of the trade. When the volatility began they ignored my RFQ for 10 min. until I called them. I don't "daytrade" I don't trade usually forex unless i see at least a 200 pip move with at least a 1:4 risk to reward ratio. As for the SPY. I dont jump in and out like a dumb ass I have been short since 110. I didnt say it was a liquidity problem I said it was a broker problem. They ignored my RFQ to exit the PUT. Of course I am trading several currencies at once as well so it takes some time to close out positions. These are positions I normally would not close out as we were rejected at 1.2720 and the picture hasn't changed too much on the daily chart. But I freaked because they ignoring my RFQ on the trading platform.
  • #285,457
  • Aug 24, 2010 11:07am Aug 24, 2010 11:07am
Quoting gatorinla
hey i got .858 on my charts.. lets me clarify.. 0.8580 ... there was gonna be a bounce there at the low no matter what. many of us posted it earlier and months ago, in our charts. so if this is all the euro has with the bad news reported. then its worse then i thought.
bad u.s. news is bad for the euro. bad euro news is bad for the euro. good euro news is only good for a little while. just let the dust settle. your living in history. now on the 5m chart lets see what we can do to make a bear flag. or a bart simpson top... bs for short.
looking like a bull flag though....although top of the channel I have is 2750
  • #285,458
  • Aug 24, 2010 11:09am Aug 24, 2010 11:09am
Quoting gatorinla
hey i got .858 on my charts.. lets me clarify.. 0.8580 ... there was gonna be a bounce there at the low no matter what. many of us posted it earlier and months ago, in our charts. so if this is all the euro has with the bad news reported. then its worse then i thought.
bad u.s. news is bad for the euro. bad euro news is bad for the euro. good euro news is only good for a little while. just let the dust settle. your living in history. now on the 5m chart lets see what we can do to make a bear flag. or a bart simpson top... bs for short.
Thank you for your reply.
Will search on that number in the thread.
This is my analysis though.
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  • #285,459
  • Aug 24, 2010 11:12am Aug 24, 2010 11:12am
Quoting Predi
Doesn't need a shoulder to go so far, I have rarely seen academic H&S like they write in books etc
you r right but it would ve been much better to trade if it s gone to that level and obviously 1.23is a resistance but DR2 is 1.2757 and wpivot 1.2765 1.235 is 50% fib of last rally to the downside
  • #285,460
  • Aug 24, 2010 11:15am Aug 24, 2010 11:15am
1.273 not 1.23 lol
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