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EURUSD

  • #297,981
  • Sep 29, 2010 5:11am Sep 29, 2010 5:11am
One news sites outlook,

The EURUSD took out the 1.3600 handle in early European trade but has since struggled to maintain its gains. For now the market is shrugging off any concerns regarding sovereign debt problems in the EZ and focusing instead on the dilutive prospects of another round of QE from the Fed. However, tomorrow currency traders will get a glimpse of the full cost of the rescue of the Anglo Irish bank which could introduce a note of caution into the market. The latest move in the pair appears to be overdone and barring any additional dovish news out of the US, the EURUSD will most likely pause and retrace to 1.3500 over the next few days.
Today's zone = Tomorrow's opportunity!
  • #297,982
  • Sep 29, 2010 5:12am Sep 29, 2010 5:12am
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (60 Min) _ $GBPUSD (60 Min) 29_09_2010.jpg Size: 144 KB


consolidating at moment
making green pips large and red pips small this is my goal.
  • #297,983
  • Sep 29, 2010 5:18am Sep 29, 2010 5:18am
Quoting pres78
One news sites outlook,

The EURUSD took out the 1.3600 handle in early European trade but has since struggled to maintain its gains. For now the market is shrugging off any concerns regarding sovereign debt problems in the EZ and focusing instead on the dilutive prospects of another round of QE from the Fed. However, tomorrow currency traders will get a glimpse of the full cost of the rescue of the Anglo Irish bank which could introduce a note of caution into the market. The latest move in the pair appears to be overdone...
only to 1.3500 over the next few days..?
I'm learning to trust my own charts..
  • #297,984
  • Sep 29, 2010 5:23am Sep 29, 2010 5:23am
Big news day tommorw espcially for the USD with a few high impact news items and 2 speeches. Could be a high flying, volitile, major spike kind of day. It appears that today may remain quietly bouncing... it will be interesting to see what the FOMC member speech later today does if anything.
Today's zone = Tomorrow's opportunity!
  • #297,985
  • Edited 5:45am Sep 29, 2010 5:27am | Edited 5:45am
These to me are important TP/possible reversal spots.Not to the pip but you get the idea.I just drew it up on a 4hour chart in the last few minutes.This is If Euro were to go to these points south.
Close yellow lines represent consolidation.
Attached Image (click to enlarge)
Click to Enlarge Name: eurofuture.gif Size: 13 KB
  • #297,986
  • Sep 29, 2010 5:30am Sep 29, 2010 5:30am
Think it should be the other way round with the bear outside the ropes
  • #297,987
  • Sep 29, 2010 5:30am Sep 29, 2010 5:30am
Quoting pres78
Big news day tommorw espcially for the USD with a few high impact news items and 2 speeches. Could be a high flying, volitile, major spike kind of day. It appears that today may remain quietly bouncing... it will be interesting to see what the FOMC member speech later today does if anything.
the news is already in the price
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #297,988
  • Sep 29, 2010 5:31am Sep 29, 2010 5:31am
i am still in bullish side, longer term view

http://img801.imageshack.us/img801/4665/81242192.jpg
Join My Signal On Telegram at @forextradingforlivingsignal
  • #297,989
  • Sep 29, 2010 5:31am Sep 29, 2010 5:31am
The new €5bn into Anglo Irish is enough to trigger the rally given the steep uptrend.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #297,990
  • Sep 29, 2010 5:31am Sep 29, 2010 5:31am
Thanks. What do you do with them? I don't have any problem recognizing when we are in a range, or triangle or where the borders are but I've just never figured out how to trade that except to wait for it to break and then trade a retracement after it breaks with momentum.

Quoting T@rantula
try MACD , 50 sma angle..i am currently working on a system for range trading...need 6 months testing thou. I have added 0 and -0003, 0003 levels on MACD, using it for a 5m scalping along with BB
  • #297,991
  • Sep 29, 2010 5:31am Sep 29, 2010 5:31am
Quoting Fly2
These to me are important TP/possible reversal spots.Not to the pip but you get the idea.I just drew it up on a 4hour chart in the last few minutes.This is If Euro were to go to these points south.
Upside not yet finish business. There more room upside, unless 3591 not support it
  • #297,992
  • Sep 29, 2010 5:31am Sep 29, 2010 5:31am
Quoting DMA Trader
the news is already in the price
ok
Today's zone = Tomorrow's opportunity!
  • #297,993
  • Sep 29, 2010 5:37am Sep 29, 2010 5:37am
I disagree. Not always and especially not some of this week #s and speeches. Bernanke words will be followed to the minimum detail given QE2 and I wouldn't underestimate the revision on German Retail. Plus the bond spreads reaction after the new bailout in Ireland are still fresh and the follow up of the big strikes in Europe can trigger some political shifts in some EZ countries.

IMO, is way too early this week/month (oct) to call a smooth ride with fundamentals already digested in charts.

We'll see

sisse

Quoting DMA Trader
the news is already in the price
Pending conversations? PM for a chat...I am mainly in OTM now
  • #297,994
  • Sep 29, 2010 5:40am Sep 29, 2010 5:40am
The way today's PA is haping up it's starting to llok an awful lot like Monday... Have to see what NY open does.
Today's zone = Tomorrow's opportunity!
  • #297,995
  • Sep 29, 2010 5:42am Sep 29, 2010 5:42am
Quoting The Fool
you call it a whipsaw I call it a gravy train
I don't understand the phrase, can you explain it please?
You mean it's your job?
  • #297,996
  • Sep 29, 2010 5:43am Sep 29, 2010 5:43am
Quoting beyond
Think it should be the other way round with the bear outside the ropes
? my chart?been using this way for a while/gets me to the pip
Just something I learned
  • #297,997
  • Sep 29, 2010 5:44am Sep 29, 2010 5:44am
Quoting sisse
I disagree. Not always and especially not some of this week #s and speeches. Bernanke words will be followed to the minimum detail given QE2 and I wouldn't underestimate the revision on German Retail. Plus the bond spreads reaction after the new bailout in Ireland are still fresh and the follow up of the big strikes in Europe can trigger some political shifts in some EZ countries.

IMO, is way too early this week/month (oct) to call a smooth ride with fundamentals already digested in charts.

We'll see

sisse
I do read the news. I do watch fundamentals. All I am saying here that a lot of people are going against the trend because the news is coming. And sometimes you get lucky.

It really depends if you are a trend player or contrarian traders.
And I guess here are traders that go from trend followers to astro trading.
So it depends on your trading style.

I do think 80% of the information is in the charts.
But that is just me.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #297,998
  • Sep 29, 2010 5:46am Sep 29, 2010 5:46am
Careful market right now...bear probably re-positioned a bit higher.

Today "wtf" moments are possible.
They think they are smarter than I am.
  • #297,999
  • Sep 29, 2010 5:46am Sep 29, 2010 5:46am
Quoting beyond
Think it should be the other way round with the bear outside the ropes
Never mind I saw the pic haha
  • #298,000
  • Sep 29, 2010 5:47am Sep 29, 2010 5:47am
Quoting DMA Trader
the news is already in the price
sure - that explains why we have ginormous spikes in the price a few seconds after certain news announcements
"If The Fool persists in his Folly he will become wise." - William Blake
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