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EURUSD

  • #318,481
  • Nov 3, 2010 6:32am Nov 3, 2010 6:32am
Draw the Drain !

  • #318,482
  • Nov 3, 2010 6:55am Nov 3, 2010 6:55am
Does any fibbers know of an explanation why the 50% fib is so accurate.

I read about fibs but no explanation as to why .

I find once you identify a top and bottom of a leg .

The 50% fib consistently seems to play a big roll in the retace level .

A lot of the time to the pip!!

News events screw this up but generally seems to be the case .

If you want know what i mean draw fib from 1.4060 pull down to swing low 1.4025 look were 50 % is .it happens a lot.
making green pips large and red pips small this is my goal.
  • #318,483
  • Nov 3, 2010 6:59am Nov 3, 2010 6:59am
Quoting paul1
Does any fibbers know of an explanation why the 50% fib is so accurate.

I read about fibs but no explanation as to why .

I find once you identify a top and bottom of a leg .

The 50% fib consistently seems to play a big roll in the retace level .

A lot of the time to the pip!!

News events screw this up but generally seems to be the case .

If you want know what i mean draw fib from 1.4060 pull down to swing low 1.4025 look were 50 % is .it happens a lot.
everyone is looking to buy at one place after a retrace... usually entries are at 50 or 61% of the retrace.... that is what traders look for... if its a strong move it wont up it wont even break the 38% if u noticed...

these are good points for some entries...
  • #318,484
  • Nov 3, 2010 6:59am Nov 3, 2010 6:59am
Quoting paul1
Does any fibbers know of an explanation why the 50% fib is so accurate.
I've been told it's true for cable also.
Don't just be a sheep : make your own idea of it.
  • #318,485
  • Nov 3, 2010 7:00am Nov 3, 2010 7:00am
Rumor is Fed is going to buy tresuries = low interest rates , moving forward economy & weaker dollar. On other hand euro have another issue Irish debt but same scenario as Greek debt is expected. Weaker dollar is good for US & i dont think situation will change in few upcoming months...... anyway I am buying on rumors
  • #318,486
  • Nov 3, 2010 7:01am Nov 3, 2010 7:01am
will euro/usd find some direction today?

as there are many red news events today
Holy Grail - Patience and Acceptance
  • #318,487
  • Nov 3, 2010 7:01am Nov 3, 2010 7:01am
Quoting paul1
Does any fibbers know of an explanation why the 50% fib is so accurate.

I read about fibs but no explanation as to why .

I find once you identify a top and bottom of a leg .

The 50% fib consistently seems to play a big roll in the retace level .

A lot of the time to the pip!!

News events screw this up but generally seems to be the case .

If you want know what i mean draw fib from 1.4060 pull down to swing low 1.4025 look were 50 % is .it happens a lot.
IMO. 50% fibs is the most common level or target that traders use and only what the big boys care about.

Peace
  • #318,488
  • Nov 3, 2010 7:04am Nov 3, 2010 7:04am
Withdraw form submitted...cant take the stress of trading anymore. Gotta focus on studies.

This is consuming me slowly.


Will return after all the "clutter" has settled...

Peace and prosperity unto all - will return during Winter term (Jan)


Take care
  • #318,489
  • Nov 3, 2010 7:04am Nov 3, 2010 7:04am
Can any send me

6 October 5.15 adp non new effect, how much point euro up,
  • #318,490
  • Nov 3, 2010 7:05am Nov 3, 2010 7:05am
I for one am taking my one winner to the bank, we might go to 1.43 or 1.36, but I am not taking part, good luck to all.....

Look Sharp/Trade Tight....PTL
Look Sharp/Trade Tight
  • #318,491
  • Nov 3, 2010 7:06am Nov 3, 2010 7:06am
Quoting Vladimir1987
everyone is looking to buy at one place after a retrace... usually entries are at 50 or 61% of the retrace.... that is what traders look for... if its a strong move it wont up it wont even break the 38% if u noticed...

these are good points for some entries...
Thankyou buddy
making green pips large and red pips small this is my goal.
  • #318,492
  • Nov 3, 2010 7:08am Nov 3, 2010 7:08am
Quoting disegnosys
IMO. 50% fibs is the most common level or target that traders use and only what the big boys care about.

Peace
cheers. third bounce off 50 fib amazing
making green pips large and red pips small this is my goal.
  • #318,493
  • Nov 3, 2010 7:09am Nov 3, 2010 7:09am
just got this in my email
Attached Image (click to enlarge)
Click to Enlarge Name: 11-3-2010 1-07-28 PM.png Size: 33 KB
  • #318,494
  • Nov 3, 2010 7:09am Nov 3, 2010 7:09am
Good afternoon all !!!
The best thing that can happen to you is to find out where you're wrong.
  • #318,495
  • Nov 3, 2010 7:10am Nov 3, 2010 7:10am
Looks like the sell programs are having another field day trying to liquidate short positions. Saw a futures gap earlier tonight that never filled. (around ~1.4007).

Holding and building short positions over the span of over a month isn't an easy task especially when you have these proggies competing for higher and higher prices when the slightest bit of real offers hit the table. A bit frustrating when these boxes are trying to scare you out of winning positions. (If i was leveraged more than 1:10 I think i would be smashing the shit out of all the computer terminals in my office with a baseball bat.)

I said it before, and will say it again, euro/usd is going to ~$1.31 to fill a gap caused by the Fed in mid-to-late September.

Prices here won't last long.
  • #318,496
  • Nov 3, 2010 7:13am Nov 3, 2010 7:13am
Quoting paul1
cheers. third bounce off 50 fib amazing
These are 3 pips bounce...lol
COT: The precious data ignored
  • #318,497
  • Nov 3, 2010 7:15am Nov 3, 2010 7:15am
Hard to follow with those mixed H1 bars ... Longs closed. Short from 1.4052, sl @ be. Would look to long again if 1.4038 holds.

Possible descending triangle on M5/M15.
Don't just be a sheep : make your own idea of it.
  • #318,498
  • Nov 3, 2010 7:15am Nov 3, 2010 7:15am
Quoting Vladimir1987
just got this in my email
Attachment

Fed already intervened. They were very slick about it as it was done during the FOMC meeting in which they said they are 'considering' asset purchases in the near future. Most news and analysis is misinformation. The only one telling you the truth is the price.
  • #318,499
  • Nov 3, 2010 7:16am Nov 3, 2010 7:16am
October ADP Employment Change 43K vs 23K consensus
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #318,500
  • Nov 3, 2010 7:19am Nov 3, 2010 7:19am
Quoting Merry

Draw the Drain !



as i said




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