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EURUSD

  • #286,361
  • Aug 26, 2010 10:19am Aug 26, 2010 10:19am
http://www.forexlive.com/127910/all/...ng-hurting-eur

watching 1050, 10k closely....
  • #286,362
  • Aug 26, 2010 10:20am Aug 26, 2010 10:20am
bear flag.......................... 1 hr not yet is it forming........
  • #286,363
  • Aug 26, 2010 10:22am Aug 26, 2010 10:22am
Just a quick note -

Been trading for just over one year - All self taught.....had some inheritence money and I was going to let a buddy of mine in the banking business invest it for me - well my wife said you are smart enough why don't you invest/trade the money. So a year and half ago I started - and got my ass kicked really hard...and as low and depressed as I got about losing money I kept at it and with tons of read and tons of time infront of the screens I am on the right path. A big part of the tons of reading I have done has been in this forum....so a big thank you to all the knowledge people here that are willing to talk and share their trading ideas and experiences with others. I am not a perfect trader and my biggest lesson and still problem is cutting my losers short - but I am getting better and my account shows that.....again....thanks to all and I hope I can contribute this forum as much as many others have for me.

Thanks...

Faller
I don't trust any move - when you have profit...take it.
  • #286,364
  • Aug 26, 2010 10:23am Aug 26, 2010 10:23am
Quoting Munal
bear flag.......................... 1 hr not yet is it forming........
.
  • #286,365
  • Aug 26, 2010 10:34am Aug 26, 2010 10:34am
Quoting T@rantula
Yesterday was a good trading day...today is indecisive, I will know it after US news
An indecisive day turned to be a good trading day at last. Bullish setup was well played, even if 2750 hasnt been broken to the upside tp1 was taken.

A part of my long is still in play (BE+1) aiming for a retest of 28xx levels. It could happen tommorow thou

Quoting T@rantula
Same PA as yesterday, EU is detrending and retracing. 2560 still holds. Today a clear break of 2750 level leads us to 2817. Above that 2850 is possible
Attachment
  • #286,366
  • Aug 26, 2010 10:39am Aug 26, 2010 10:39am
This 1.2690 - 1.2710, there is really nothing to do.
They think they are smarter than I am.
  • #286,367
  • Edited 11:03am Aug 26, 2010 10:52am | Edited 11:03am
Chart update. Don't like the fast rejection I would have preferred a close above. Sign of bear weakness or at least not a perfect daily swing high.

sisse


Quoting sisse
Nothing new chart wise. Trading in the range (100% textbook consolidation after a major daily S was hit). Same chart / Same setup/same good news for Europe. I expect nothing until friday GDP/Bernanke explosive combo.

sisse
Attached Image (click to enlarge)
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Pending conversations? PM for a chat...I am mainly in OTM now
  • #286,368
  • Aug 26, 2010 10:52am Aug 26, 2010 10:52am
after a rejection from 200 SMA EU on 1hr got support on 21 sma .............
Attached Image (click to enlarge)
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  • #286,369
  • Aug 26, 2010 10:54am Aug 26, 2010 10:54am
If this bear flag cracks down in 1min tf at 1.2685-90 it will be a journey to 1.2660 and revaluation.

Edit: turned to bull
They think they are smarter than I am.
  • #286,370
  • Aug 26, 2010 11:13am Aug 26, 2010 11:13am
with half the volume. no one is buying... for now.


Quoting Z3iz3i
If this bear flag cracks down in 1min tf at 1.2685-90 it will be a journey to 1.2660 and revaluation.

Edit: turned to bull
dreams do come true.
  • #286,371
  • Aug 26, 2010 11:18am Aug 26, 2010 11:18am
sold at top 744 an hit the sl at 764... ironic... cought by the pip

ah that one pip ... got short again later on ended with profit..


have a question... do any of you watch those high volume bars???

i am taking those as a reversal raference... here is how i see them or explane to myself- when a high volume bar is made and the next one is red it is a top for me or exshaustion... on the last blue mark that i made a strenght was shown and then exshaustion followed with new high...

am i correct??? does anyone uses this?? is this explanation wright???

thanks

Attached Image (click to enlarge)
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  • #286,372
  • Aug 26, 2010 11:27am Aug 26, 2010 11:27am
Quoting Vladimir1987
sold at top 744 an hit the sl at 764... ironic... cought by the pip

ah that one pip ... got short again later on ended with profit..


have a question... do any of you watch those high volume bars???

i am taking those as a reversal raference... here is how i see them or explane to myself- when a high volume bar is made and the next one is red it is a top for me or exshaustion... on the last blue mark that i made a strenght was shown and then exshaustion followed with new high...

am i correct??? does anyone uses this?? is this...
I wouldn't trust any volume indicator in SPOT FOREX
  • #286,373
  • Aug 26, 2010 11:33am Aug 26, 2010 11:33am
it's been kind of strange for awhile now.. bad news from the US brings the dollar down, even though traditionally, people should flee to USD as a safe haven. today's better than expected jobless claims strengthened the dollar for abit, before taking it down again.

is this because we are in a EUR bull phase now? that no matter if the news is good or bad from the US, the USD weakens?

in that case, tomorrow's GDP numbers as well as Bernanke's speech, whether good or bad doesnt matter, cos it should (speaking from the price action the past couple of days), cause the market to react negatively against the USD, as has been the case in the last days whenever macro news is released.

In light of that, do you think we should long the EUR in anticipation of the move up?

i would be interested to hear your thoughts...
  • #286,374
  • Aug 26, 2010 11:35am Aug 26, 2010 11:35am
Anyone want to offer a comment on this chart:

IMHO seems as if we are in wave 4...
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  • #286,375
  • Aug 26, 2010 11:38am Aug 26, 2010 11:38am
I second that. Moreover, IMO vol can be useful in the 2 extremes, Either in long timeframes daily up or with extreme fast algorithms when trying to exploit trading intensity with bid/ask info (this is beyond my scope and I guess everyone else here... you need algorithm trading with very fast data and calculations). In most cases (not all I guess) volume analysis in forex (is a lot more useful in stocks and in fundamental analysis) is more a chimera to give some "rational" explanation behind why markets move.

In any case good look in your research on volume.

sisse

Quoting mokonni
I wouldn't trust any volume indicator in SPOT FOREX

Quoting Vladimir1987
. here is how i see them or explane to myself- when a high volume bar is made and the next one is red it is a top for me or exshaustion... on the last blue mark that i made a strenght was shown and then exshaustion followed with new high...

am i correct??? does anyone uses this?? is this explanation wright???

thanks

Attachment
Pending conversations? PM for a chat...I am mainly in OTM now
  • #286,376
  • Edited 11:54am Aug 26, 2010 11:43am | Edited 11:54am
Quoting kitiara
it's been kind of strange for awhile now.. bad news from the US brings the dollar down, even though traditionally, people should flee to USD as a safe haven. today's better than expected jobless claims strengthened the dollar for abit, before taking it down again.

is this because we are in a EUR bull phase now? that no matter if the news is good or bad from the US, the USD weakens?

in that case, tomorrow's GDP numbers as well as Bernanke's speech, whether good or bad doesnt matter, cos it should (speaking from the price action the past couple...

fundamentals get weird every once in a while.....especially in times of low volume. Right now its pretty much a crapshoot on fundamentals because there really isn't a direction right now. The only thing that I'm noticing right now is that risk rallies are getting sold. Markets are in a holding pattern atm, waiting for the statement on the economy by bernanke and what, if any action will be taken on the obvious slowdown on the non-existent recovery that they seem seem to believe is taking place. For a real recovery to take place, markets have to reach their true values, and right now IMO they are highly overvalued. Take a look at P/E ratios right now...... Tossing money and more debt into the marketplace doesn't solve a thing, it's only a temporary fix.

Central banks are literally always wrong, all those dudes with PHd's.....pffff, gimme a break. They were taught, just as every college or university teaches students, on how the economy should act given certain circumstances, when the fact of the matter is that with economics, there are so many variables that it is very difficult to gauge the direction and steps to economic growth. Every action has a reaction, and most of the final outcomes aren't seen but it hindsight.
  • #286,377
  • Aug 26, 2010 11:50am Aug 26, 2010 11:50am
Quoting mfoste1
They were taught, just as every college or university teaches students, on how the economy should act given certain circumstances, when the fact of the matter is that with economics, there are so many variables that it is very difficult to gauge the direction and steps to economic growth.
They also all seem (at least in the US) to have been taught that you can spend your way out of debt. Whether or not this is true, I'm not sure since I'm not an expert of economics. However it does seem counter-intuitive, from my real-life (not academic) experience...
  • #286,378
  • Aug 26, 2010 11:50am Aug 26, 2010 11:50am
Volume spread analysis. do a search for VSA Malcom on the forum and u'll have a lot to learn there.

since many here don't believe the concept of volume (since its tick change derived in forex) i call myself a chicken bone reader. sounds a bit like witchcraft so people are ok with it LOL

works really well, if you have a proper volume feed (reaaaaally important, i have a different feed just for volume other than my real account broker) and know how to read it.

your reading right now was very simplistic. yet it seems to have worked. get deeper into it.

don't forget. it's just a tool. it won't work in your place. i use it with other tools to get the job done. some only use that and still get the job done. LOL

hapipipin

Quoting Vladimir1987
sold at top 744 an hit the sl at 764... ironic... cought by the pip

ah that one pip ... got short again later on ended with profit..


have a question......
dreams do come true.
  • #286,379
  • Aug 26, 2010 11:53am Aug 26, 2010 11:53am
Does it make any sense??????????? As m watching it .............
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  • #286,380
  • Aug 26, 2010 11:59am Aug 26, 2010 11:59am
Big wedge forming (for upside i suppose) approx 30 pips....at 5min tf
They think they are smarter than I am.
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