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EURUSD

  • #299,701
  • Oct 1, 2010 10:27am Oct 1, 2010 10:27am
Quoting pres78
Oil up = EURUSD up or down?
Well look what happened to the EUR/USD for last couple of hours and days. DXY not far away from the 78 level. Gold new high, silver new 30 year high. USD/CAD losing too. Canadian Dollar heading for parity.
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #299,702
  • Oct 1, 2010 10:28am Oct 1, 2010 10:28am
Quoting psiholog
The universal scope of making the dollar weaker with the Feds buying treasuries in preparation of a stronger Yuan. At least thats the rumor which in my opinion is just a temporary massive bull trap for the long term investors who dont have a clue what their doing with their money. Weaker dollar, stronger equities markets, stronger equities, more sheep willing to invest long term before the next leg down. The main problem the past few years has been that the retail investor has kept his money on the sidelines. What better...
since when is long term investment a sheep thing.
you seem to think that all stock market is a ponzi scheme.

The fact that retail investor keep saying a double dip is coming is a very contrarian indicator. Since when does the retail investor know how market works.

In my view it's a trade war. doesn't have to do with the stock market. Stocks have been up when dollar was going up in history.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #299,703
  • Oct 1, 2010 10:28am Oct 1, 2010 10:28am
Quoting Bootleger
Well look what happened to the EUR/USD for last couple of hours and days. DXY not far away from the 78 level. Gold new high, silver new 30 year high. USD/CAD losing too. Canadian Dollar heading for parity.
Last couple of hours the EURUSD has been boucing up and down in a bit of a range.
Today's zone = Tomorrow's opportunity!
  • #299,704
  • Oct 1, 2010 10:29am Oct 1, 2010 10:29am
Wow thats amazing I make one post in this thread and suddenly 185 people are veiwing it.

Like a magnet. Dam Im awesome
Time hides Nothing
  • #299,705
  • Oct 1, 2010 10:37am Oct 1, 2010 10:37am
Quoting psiholog
Side note: (sometimes the best trade is no trade. I havent placed an order all week. Why? Because pa we have seen for weeks now rarely occurs, has intervention written all over it. This chart I will post you usually see only on the smaller time frames (15min or 1hour max....not 4hour or daily)

Attachment

In these type of extended trends, if you didn't enter when the uptrend started, it would be difficult to find any entry point at a later time since the possibility of reversal is always strong, yet how long the uptrend will continue...
That was my problem too, couldn't find a good entry point (with a tight stoploss) in this steep uptrend. I was waiting to be tested 1.3500, but that didn't happened, so i just shorted it on every significant resistance line, i know it's not good to go against trend, especially this steep, but i just couldn't find a good entry point to the way up.
But when looking it now it usually retraced 23% or 38% fibo, so i'll have that on my mind for the future, that's the best level for entry on steep trends.
  • #299,706
  • Oct 1, 2010 10:41am Oct 1, 2010 10:41am
Quoting pres78
Last couple of hours the EURUSD has been boucing up and down in a bit of a range.
From 1.365 to 1.375... I see a little difference
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #299,707
  • Oct 1, 2010 10:46am Oct 1, 2010 10:46am
Just gone West on EUR despite my South Easterly bias... 20 lots homies here we go 10 5ths of my account
Time hides Nothing
  • #299,708
  • Oct 1, 2010 10:48am Oct 1, 2010 10:48am
Since the day is winding down, I may as well ask, though most are probably done for the day. For the scalpers short term traders(maybe longer termers too), if you're playing off a support or resistance, are you all looking for confirmation or jump right in with tight stops? I've been doing confirmation this week, but after 10 min(2 five minute candles) I seem to enter a trade 10 pips after a touch.
Don't know if I'm being too safe, or just lucky.
If it weren't the end of the week, I'd say there's a divergence going on these 5 and 15 charts upwards.
  • #299,709
  • Oct 1, 2010 10:50am Oct 1, 2010 10:50am
Quoting Bootleger
From 1.365 to 1.375... I see a little difference
Your comment said the last couple of hours so that is what I looked at... not the whole day.
Today's zone = Tomorrow's opportunity!
  • #299,710
  • Oct 1, 2010 10:50am Oct 1, 2010 10:50am
Quoting Superscalper
wel if its going down next week thets good news for me
oh yeah...good luck to you...
  • #299,711
  • Oct 1, 2010 10:50am Oct 1, 2010 10:50am
Quoting psiholog
I used to follow this but not anymore. Asia tends to consolidate towards a significant resistance or support level by the time Europe comes around. In the past it was followed by a return to the other significant level of resistance/support. These days, chances of breakout are 50/50. Too much of a gamble when precision is the name of my game. When intervention in the markets ends, this note will be part of my playbook once again.
My success ratio has been between 80-20 and 70-30. Its very important to look a candle open at 00.00, if it is above pp or no...

Look @ my intraday analysis I have posted early in the morning ( 11 hours ago app), I have described step by step why I have picked 3736 target.
  • #299,712
  • Oct 1, 2010 10:56am Oct 1, 2010 10:56am
Quoting digictron
yes i did, and I am still holding some of them, I am wondering if you think it will go up little bit or should I close
Close it, ur in profit, dont be greedy :L)
  • #299,713
  • Oct 1, 2010 10:58am Oct 1, 2010 10:58am
Quoting CindyXXXX
Just gone West on EUR despite my South Easterly bias... 20 lots homies here we go 10 5ths of my account

20 lots short whaaaaaaaaaaaa?
  • #299,714
  • Oct 1, 2010 11:03am Oct 1, 2010 11:03am
Quoting T@rantula
Close it, ur in profit, dont be greedy :L)
I did, thanks for your input and your help as always is very much appreciated.
  • #299,715
  • Oct 1, 2010 11:05am Oct 1, 2010 11:05am
What I see is that the EUR strength is short-term. Just from the extreme oversold levels at 1.18 where everyone was talking about parity, now many people start getting too bearish for the dollar. Waiting for QE 2 and pumping money in stocks I think that worldwide agents are just helping FED and the economic recovery at least for the rest of the year. That's why I believe we will not see QE 2 this year and definitely not in November. I believe that to see a significant QE 2 as you call it , we must face a big sell-off that will support the FED in taking the decision. Right now, it's just not justified. Yes, the economy recovery is slow but it's not dropping like a stone. There are even some indicators that we are recovering. Right now EURUSD is 1.376. I closed my long from 1.21 and I will stay out. I believe that soon will be the time when the USD will strengthen because the disappointment of not making QE2 as everyone expects. Probably until then we will see EURUSD 1.4 and then I recommend shorting the EUR. If it doesn't go there I will just stay out. And don't get extreme, the Europe problems are still the same, the things don't change so fast , same for USA.

Just some food for thought !
  • #299,716
  • Oct 1, 2010 11:08am Oct 1, 2010 11:08am
Quoting octacomm
What I see is that the EUR strength is short-term. Just from the extreme oversold levels at 1.18 where everyone was talking about parity, now many people start getting too bearish for the dollar. Waiting for QE 2 and pumping money in stocks I think that worldwide agents are just helping FED and the economic recovery at least for the rest of the year. That's why I believe we will not see QE 2 this year and definitely not in November. I believe that to see a significant QE 2 as you call it , we must face a big sell-off that will support the FED in...
thanks mate. I can't stop eating! lol.
  • #299,717
  • Oct 1, 2010 11:10am Oct 1, 2010 11:10am
Quoting digictron
I did, thanks for your input and your help as always is very much appreciated.
  • #299,718
  • Oct 1, 2010 11:12am Oct 1, 2010 11:12am
Seems like that US Dollar selling is not done yet haha
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #299,719
  • Oct 1, 2010 11:20am Oct 1, 2010 11:20am
Well I am going to take this weekend to relax and reflect... After a whole week of trading I ended the week at +10 pips... All that effort for 10 pips. But on the brighter side I didn't end up in the hole and next week will be another week. I made some good pips but lost almost as many in a couple of crappy trade decisions. I am still quite new to this whole thing and have much to learn. At least I guess I knew when to cut my losses and managed to scrape out ahead.

Someday I would like to be able to post as many of you do... well I just pocketed 50-200 pips and I'm off to relax until tommorow. Right now I feel like I fight for every pip and overanylize every trade and every decision. I guess I just need to trust my systems and trades and enjoy the ride.

I hope everyone has an enjoyable weekend... see you next week.
Today's zone = Tomorrow's opportunity!
  • #299,720
  • Oct 1, 2010 11:22am Oct 1, 2010 11:22am
Also was wondering if anyone could offer some advice on methods they use for gaining best entries and exits on trades...

I am still strugling with getting in a little too late and out too early.
Today's zone = Tomorrow's opportunity!
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