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EURUSD

  • #307,161
  • Oct 14, 2010 11:03pm Oct 14, 2010 11:03pm
Quoting PriceVolume
SYDNEY, Oct 15 (IFR) - The EUR/USD is under pressure in early Asia amid talk that longs taken yesterday are squaring ahead of a possible Treasury report later today on whether or not it will name China as a currency manipulator and Bernanke"s speech - where he is hoped to clarify where the Fed stands regarding the resumption of QE. Some in FX market have linked the two events after a consultant report released during the US session suggested the US and China have worked out a compromise in their currency spat - where by China would allow greater...
Morning
Thanks that what i was just looking for "this type of news"
There is Mystery here on my chart and to b solved need market to go nuts Exactly Today LOL
B Careful all
  • #307,162
  • Oct 14, 2010 11:03pm Oct 14, 2010 11:03pm
Quoting DMA Trader
i'm not shorting this thing until i see a daily close below last day low.
this has been working for full month. that's something.
I think that's a pretty sound strategy...I know i've tried to short this thing a few times comin up and after I lose the trade I look at the trend and say what the f was I thinking..still in quite an uptrend as we speak..if we're lookin at a tf longer than 30mins
assume the position...whichever that may be
  • #307,163
  • Oct 14, 2010 11:04pm Oct 14, 2010 11:04pm
Well I'm looking at 4021/26 as support right now, below there we target 3981/86. Topside 4051/56 is key and then 4077/82.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 24 KB
Look Sharp/Trade Tight
  • #307,164
  • Oct 14, 2010 11:06pm Oct 14, 2010 11:06pm
Out of my longs, it's safer to wait for London or at least Frankfurt.
It ain't moving anymore.
It's bouncing off its support but not a convincing bounce, struggling to make higher close, and it can't make new hourly high anymore.

We'll know more in a few hours.
COT: The precious data ignored
  • #307,165
  • Oct 14, 2010 11:07pm Oct 14, 2010 11:07pm
Quoting atate49
I think that's a pretty sound strategy...I know i've tried to short this thing a few times comin up and after I lose the trade I look at the trend and say what the f was I thinking..still in quite an uptrend as we speak..if we're lookin at a tf longer than 30mins
Do not blame yourself too much. Even in strong uptrends there are usually tradeable dips although it does require a great deal of caution when doing it. Than having been said, it is usually easier and safer to trade with the trend.
  • #307,166
  • Oct 14, 2010 11:09pm Oct 14, 2010 11:09pm
Quoting atate49
I think that's a pretty sound strategy...I know i've tried to short this thing a few times comin up and after I lose the trade I look at the trend and say what the f was I thinking..still in quite an uptrend as we speak..if we're lookin at a tf longer than 30mins
it's just a tip to see how strong this trend is.
you don't see trends like this everyday.

no point on fighting the tape. it will go down one day. but you need to be there. so keep your capital safe for now.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #307,167
  • Oct 14, 2010 11:11pm Oct 14, 2010 11:11pm
Quoting DMA Trader
it's just a tip to see how strong this trend is.
you don't see trends like this everyday.

no point on fighting the tape. it will go down one day. but you need to be there. so keep your capital safe for now.
yup, very right. conserve the capital to welcome the bears. meanwhile i am scalping. haha,...
  • #307,168
  • Oct 14, 2010 11:11pm Oct 14, 2010 11:11pm
Quoting moonchild
Do not blame yourself too much. Even in strong uptrends there are usually tradeable dips although it does require a great deal of caution when doing it. Than having been said, it is usually easier and safer to trade with the trend.
yeah there are and on this way up we didn't have many corrections so I never really got in on the up trend b/c I usually only trade 50 and 61 fib lines..it only drew back to those a few times and I was usually at work and unable to trade when it did. So I did try a few shorts but it wasn't really in line with my trading strategy so I should've just stuck to what worked... good luck with the action tonight..I'm in colorado so I'm usually asleep during london session, which sucks!
assume the position...whichever that may be
  • #307,169
  • Oct 14, 2010 11:12pm Oct 14, 2010 11:12pm
1.43~ area at 6AM pacific time. Wave 5 must finish of this current bull, I will quote this tommorow and people can see for themselves.
  • #307,170
  • Oct 14, 2010 11:13pm Oct 14, 2010 11:13pm
Quoting DMA Trader
i'm not shorting this thing until i see a daily close below last day low.
this has been working for full month. that's something.
Yeah well it has been 26 days in a row so far......something has to give at some stage you would think.
  • #307,171
  • Oct 14, 2010 11:24pm Oct 14, 2010 11:24pm
Quoting mfoste1
well 08 was quite a wide array of swings....im already short
I'm still waiting for a hit at the DPP, usualy in asia when price embarcs to a PP, it usualy gets there, is just a mather of time so patience is a virtue, I all ready hit the dPP twice today and the M2 as well so that is a start for me, I hit it when it when down from 4070 for 20 then M2 4017 for another 25 and then I when up again to the DPP and grab another 20 then down to M2 for another 18 and now I'm long to the dPP again, then short from there if it bounce we will just have to see when it get there becasue we are gething close to the frankies open by then, good luck mfoste1
The Chonchy
  • #307,172
  • Oct 14, 2010 11:24pm Oct 14, 2010 11:24pm
Quoting DMA Trader
it's just a tip to see how strong this trend is.
you don't see trends like this everyday.

no point on fighting the tape. it will go down one day. but you need to be there. so keep your capital safe for now.
  • #307,173
  • Oct 14, 2010 11:28pm Oct 14, 2010 11:28pm
Quoting DMA Trader
it's just a tip to see how strong this trend is.
you don't see trends like this everyday.

no point on fighting the tape. it will go down one day. but you need to be there. so keep your capital safe for now.
If the bears are going to onboard, what will be the next target levels?

Thanks
  • #307,174
  • Oct 14, 2010 11:31pm Oct 14, 2010 11:31pm
Quoting chonchy
I'm still waiting for a hit at the DPP, usualy in asia when price embarcs to a PP, it usualy gets there, is just a mather of time so patience is a virtue, I all ready hit the dPP twice today and the M2 as well so that is a start for me, I hit it when it when down from 4070 for 20 then M2 4017 for another 25 and then I when up again to the DPP and grab another 20 then down to M2 for another 18 and now I'm long to the dPP again, then short from there if it bounce we will just have to see when it get there becasue we are gething close to...
thanks chonchy!
  • #307,175
  • Oct 14, 2010 11:34pm Oct 14, 2010 11:34pm
Quoting firstpip
If the bears are going to onboard, what will be the next target levels?

Thanks
you mean downside ?

man this thing is so extended even a 300 pips drop in a day will not be surprising. it will finish badly. it's a huge dollar carry trade,
what we don't know if drop comes from 1.4 1.5 1.6 1.8

at list i don't
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #307,176
  • Oct 14, 2010 11:37pm Oct 14, 2010 11:37pm
Quoting DMA Trader
you mean downside ?

man this thing is so extended even a 300 pips drop in a day will not be surprising. it will finish badly. it's a huge dollar carry trade,
what we don't know if drop comes from 1.4 1.5 1.6 1.8

at list i don't
Thank you!
  • #307,177
  • Oct 14, 2010 11:39pm Oct 14, 2010 11:39pm
Quoting capcity
yup, very right. conserve the capital to welcome the bears. meanwhile i am scalping. haha,...
Make a clear :

Small Capital : Scalping Strategy is better
Big Capital : Swing Strategy is better

I try used scalping strategy and always succeeded but when changed to swing.... all capital gone....
The key for succes is ": Dont forget to put SL for every position"
  • #307,178
  • Oct 14, 2010 11:41pm Oct 14, 2010 11:41pm
Quoting arnanda70
The key for succes is ": Dont forget to put SL for every position"
I would call that less of a key to success and more a basic point to learn before trading real money.
  • #307,179
  • Oct 14, 2010 11:51pm Oct 14, 2010 11:51pm
Quoting DMA Trader
you mean downside ?

man this thing is so extended even a 300 pips drop in a day will not be surprising. it will finish badly. it's a huge dollar carry trade,
what we don't know if drop comes from 1.4 1.5 1.6 1.8

at list i don't
DMA take a look at this chart

If you have to chose from a side to where to go and you have 61% on one side in favor of the trend and 50% on the other side against the trend wish one will you chose? it has travel to long to stop here in the midle of no where like your trading desk so she is not going to go back down without touching it maybe a retrace to the 50% again but defenetly unless the PIGS return this is going up notice the Parabolic sar where it is do you think is going to return now, no way man this long term tren is on her way to the UTL and no bouncing there will mean looking for the other hight of 1. 5139 wish is the other leg of the UTL of the life of the yurow, will it bounce there or keep going to the other high 6037 who knows, but for now we will get to the UTL at the 68% fibonachi when I don't know tonigh tomorrow or next week or next month but that is where is going, think about it and let me know if you agree or not

Attached Image (click to enlarge)
Click to Enlarge Name: MONTHLY.GIF Size: 53 KB
The Chonchy
  • #307,180
  • Oct 14, 2010 11:53pm Oct 14, 2010 11:53pm
From a fundamental point of view, as we know the markets are always ahead of themselves so the QE is probably already calculated in and therefor shorts might not be a bad idea.
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