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EURUSD

  • #319,041
  • Nov 3, 2010 4:11pm Nov 3, 2010 4:11pm
another reason i found for 1.444
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  • #319,042
  • Nov 3, 2010 4:20pm Nov 3, 2010 4:20pm
i bet there are some buyers at .4100.

stan
  • #319,043
  • Nov 3, 2010 4:24pm Nov 3, 2010 4:24pm
EURO pulling back, QE2 priced in, US economy picking up, could see dollar stengthening, lol
  • #319,044
  • Nov 3, 2010 4:25pm Nov 3, 2010 4:25pm
Quoting longshot_nl
another reason i found for 1.444
1.4444 is exact fibo target on my chart too, I was just scared to tell it like u

Elliott rule nr. something say, if is wave 1 extended (it was), then retrace reach normally area of previous wave 2
  • #319,045
  • Nov 3, 2010 4:25pm Nov 3, 2010 4:25pm
Quoting druckenmillr
i bet there are some buyers at .4100.

stan
Also the daily pivot and weekly R1... should provide a nice support level after providing tough resistance on previous up moves last months.
Today's zone = Tomorrow's opportunity!
  • #319,046
  • Nov 3, 2010 4:42pm Nov 3, 2010 4:42pm
Hey Guys - just wanted to ask - does anybody sees retracement to 1,33 levels in the near term???
  • #319,047
  • Nov 3, 2010 4:54pm Nov 3, 2010 4:54pm
Quoting pres78
Also the daily pivot and weekly R1... should provide a nice support level after providing tough resistance on previous up moves last months.
totally agree.

stan
  • #319,048
  • Nov 3, 2010 4:59pm Nov 3, 2010 4:59pm
don't know what they are protecting up there but it needs to end.

we are going higher and unless it's deutsche i doubt you are big and bad enough to hold this off. (It ain't deutsche - they are bullish until the 1.5 area)

so... sell it down until the 1.4 area... maybe a little lower to knock out the stops... then to 1.43.

thanks.

stan
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  • #319,049
  • Nov 3, 2010 5:03pm Nov 3, 2010 5:03pm
Quoting johnnyrei
Hey Guys - just wanted to ask - does anybody sees retracement to 1,33 levels in the near term???
i guess you should define "near term"

i'm guessing most believe it's going much higher.

we've broken the 61.8 on the weekly so fib theory states 1.51 is in the works.

but really who knows... it's why i'm a day trader.
  • #319,050
  • Nov 3, 2010 5:09pm Nov 3, 2010 5:09pm
anyone shorting EURUSD from these highs?
  • #319,051
  • Nov 3, 2010 5:14pm Nov 3, 2010 5:14pm
Quoting willkohsg
anyone shorting EURUSD from these highs?
i guess if the system i trade fired a sell signal i would take it but i wouldn't feel very comfortable about it.

stan
  • #319,052
  • Nov 3, 2010 5:16pm Nov 3, 2010 5:16pm
Long EURUSD, lost 10 pips. Looks pretty range bound here. Those candles a few hours back are really overshadowing the market right now.
  • #319,053
  • Edited 5:39pm Nov 3, 2010 5:17pm | Edited 5:39pm
Quoting druckenmillr
i guess you should define "near term"

i'm guessing most believe it's going much higher.

we've broken the 61.8 on the weekly so fib theory states 1.51 is in the works.

but really who knows... it's why i'm a day trader.

Near term - 2-3 days.

I'm just asking because 2 weeks ago lot of studies on daily and weekly chart were showing this retracement as next big movement before eur usd resumes it's uptrend possibly targeting 1,8 area. But given last week and this week performance and expectations of many people on this forum, there is no retracement... ...therefore I'm not trading at all - trying to figure out if I should resume bullish position I held from september 9 to oct. 13 - making 1200 pips
  • #319,054
  • Nov 3, 2010 5:19pm Nov 3, 2010 5:19pm
My indies are telling me it could turn around tonight or tomorrow. Lots of signals that an upmove is not very sustainable. Remains to see but a breach of 1.4100/10 could trigger more downside.
  • #319,055
  • Nov 3, 2010 5:23pm Nov 3, 2010 5:23pm
Bernanke, in an opinion article for the Washington Post released late today, said the purchases should boost economic growth through lower borrowing costs and higher stock prices and that concerns about the strategy are “overstated.”

++++++++++++++++++++++++++++++++++++++++++

Maybe it's just me... but there seems to be a bit of a disconnect here.

Firstly... there aren't that many middle class Americans that have enough stock in their expansive portfolio that would benefit much from another 15% rise in the DOW.

Secondly... if I'm afraid I'm going to lose my job I doubt I'll be doing much borrowing no matter what the rate is. As a matter a fact... I might even be saving some and paying debt down.

he goes on:

++++++++++++++++++++++++++++++++++++++++++

“This approach eased financial conditions in the past and, so far, looks to be effective again,” he said.

++++++++++++++++++++++++++++++++++++++++++

My response might be... really... if it worked so well the fist time then why are we doing it again?
  • #319,056
  • Nov 3, 2010 5:25pm Nov 3, 2010 5:25pm
Quoting druckenmillr
i guess if the system i trade fired a sell signal i would take it but i wouldn't feel very comfortable about it.

stan
thanks for the advise, I am looking for signs of exhaustion of this up move..
but i think kind of hard for anyone in Tokyo or Sydney to buy/sell into this upmove..

Unless we sell BOJ intervention or something similiar from the central banks i reckon we can only wait till the Upmove has exchausted itself before entering any trades.

That said i've queued some Buy limit orders (small lots) at

4071
4060
4052
4000


, and a price alert once prices drops below 4100..
taking a short nap.. back later.. when my price alert wakes me..
  • #319,057
  • Nov 3, 2010 5:31pm Nov 3, 2010 5:31pm
I would just like to take a moment and thank Uncle Ben for the pips. A quick 150 pips on the initial sell-off....and now already at BE on the reload. Let's see if gravity's ready for her yet....
  • #319,058
  • Nov 3, 2010 5:35pm Nov 3, 2010 5:35pm
Looking like we might have a case of "buy the rumor, sell the news" on our hands. I'm getting some sell signals now. First time in a few months I'm considering taking a short (longer term that is). Thinking about taking a few days off though. You can get burned easily at times like these.
  • #319,059
  • Nov 3, 2010 5:37pm Nov 3, 2010 5:37pm
Hi Everybody,
I followed (almost) all of u, last night. I am totally new to forex-trading, has learned alot from last two days,,,
i couldnt understand when u guys were talking about SL:------ and TP:------- but
guess when did i understood,
exactly at 18:17 GMT , when the big shake up happened...
it ate 96% of my funds... I was shocked, it was like real earthquake... jst started trading a month ago and neva seen something like that...
I m passionate to learn...
Any help, advice, suggestion and even orders are accepted...
trading EUR/USD holding Longs.. from 1.4132...
wats the suggestions..
shall i leave it by morning or jst sell them or place any different trade ....... coz going to bed didnt sleep last night was reading all the comments.. and whole day as well..
very tired...
Gud night Every Body...
I will appreciate ur help.. thank u in advance..
  • #319,060
  • Nov 3, 2010 5:38pm Nov 3, 2010 5:38pm
Quoting Awesome
Looking like we might have a case of "buy the rumor, sell the news" on our hands. I'm getting some sell signals now. First time in a few months I'm considering taking a short (longer term that is). Thinking about taking a few days off though. You can get burned easily at times like these.
Unless you're already in from the nosebleed section, I'd wait until you see the S&P begin to sell off....charts are pointing that direction, but has yet to materialize....
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