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EURUSD

  • #319,921
  • Nov 5, 2010 4:43am Nov 5, 2010 4:43am
Quoting sisse
I do agree with you 99.9%....
Thanks mate. As always NFP and unemployment data ( sometimes its more important than NFP) tend to give EU a direction for next two weeks.

I prefer h4 timeframes ( 2 days positions at the most) but im not comfortable with trading on Fridays and before NFP as I tend to cut my losses. I have learnt that CUTTING OUT ur losses in forex is the key to success.

I will trade NFP but I wont position myself before that. News trading is a completely different vs technical trading.
  • #319,922
  • Nov 5, 2010 4:45am Nov 5, 2010 4:45am
Quoting PayTheLimit
Not that we are headed there but my next support is down at 4132/34...
better chance now that 4175/79 did not hold....
Look Sharp/Trade Tight
  • #319,923
  • Nov 5, 2010 4:45am Nov 5, 2010 4:45am
Quoting FibbinArchie
Yes but with belt and braces... actually no live positions atm...
..........I'm listening to T and staying in the side lines for a bit untill this news wave pass by, maybe the wave is so big that take the sardines out of the water for us, je........
The Chonchy
  • #319,924
  • Nov 5, 2010 4:46am Nov 5, 2010 4:46am
Quoting T@rantula
Thanks mate. As always NFP and unemployment data ( sometimes its more important than NFP) tend to give EU a direction for next two weeks.

I prefer h4 timeframes ( 2 days positions at the most) but im not comfortable with trading on Fridays and before NFP as I tend to cut my losses. I have learnt that CUTTING OUT ur losses in forex is the key to success.

I will trade NFP but I wont position myself before that. News trading is a completely different vs technical trading.
Keep losses manageable and you will always make them back...
  • #319,925
  • Nov 5, 2010 4:47am Nov 5, 2010 4:47am
I agree. I wont be adding any positions either actually just tightening stops and waiting for NFP. We'll see

Quoting T@rantula
Thanks mate. As always NFP and unemployment data ( sometimes its more important than NFP) tend to give EU a direction for next two weeks.

I prefer h4 timeframes ( 2 days positions at the most) but im not comfortable with trading on Fridays and before NFP as I tend to cut my losses. I have learnt that CUTTING OUT ur losses in forex is the key to success.

I will trade NFP but I wont position myself before that. News trading is a completely different vs technical trading.
Pending conversations? PM for a chat...I am mainly in OTM now
  • #319,926
  • Nov 5, 2010 4:47am Nov 5, 2010 4:47am
1st Support 1.4144 and next on 1.4100 round number for EU..
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  • #319,927
  • Nov 5, 2010 4:47am Nov 5, 2010 4:47am
Quoting chonchy
..........I'm listening to T and staying in the side lines for a bit untill this news wave pass by, maybe the wave is so big that take the sardines out of the water for us, je........
Could be a sword fish once the dust has settled...
  • #319,928
  • Nov 5, 2010 4:48am Nov 5, 2010 4:48am
Quoting T@rantula
Thanks mate. As always NFP and unemployment data ( sometimes its more important than NFP) tend to give EU a direction for next two weeks.

I prefer h4 timeframes ( 2 days positions at the most) but im not comfortable with trading on Fridays and before NFP as I tend to cut my losses. I have learnt that CUTTING OUT ur losses in forex is the key to success.

I will trade NFP but I wont position myself before that. News trading is a completely different vs technical trading.
I'm looking to buy near 1.41 if i get a chance. the trend is up again
levels i look for. 1.41 1.4 1.95
resistance area for USX 76.4

let's see the NFP should bring very good numbers to change my opinion.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #319,929
  • Nov 5, 2010 4:49am Nov 5, 2010 4:49am
Quoting Merry

Although U / F is on the downside...




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  • #319,930
  • Nov 5, 2010 4:50am Nov 5, 2010 4:50am
Quoting Z3iz3i
1.4140/50 take profit at 15min tf.

EDIT: but you sold a bit late, 1.4170 is half way swing point from the target....there will be often a bit resistance if going against trend.
There is no real buying against, it will meet the support and re-position for the news.
They think they are smarter than I am.
  • #319,931
  • Nov 5, 2010 4:50am Nov 5, 2010 4:50am
Quoting Merry
Oh !

Y !?



Selling right @ The Bottom...!?

What bottom?
  • #319,932
  • Nov 5, 2010 4:51am Nov 5, 2010 4:51am
Possible bounce at 1.4142/1.4113.

EUR/USD M5 (01/11-05/11)
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  • #319,933
  • Nov 5, 2010 4:53am Nov 5, 2010 4:53am
@1.416 if break and be under, next week could start with bears
  • #319,934
  • Nov 5, 2010 4:56am Nov 5, 2010 4:56am
Combining EURUSD, SP500 & Eurozone Spreads
Renewed trepidations emerge within the Eurozone as France and Germany press on for a new bail-out system that would put the onus on bond markets rather than taxpayers. Politicians are more supportive of the notion of debt restructuring, to the detriment of bond markets. ECB & Trichet won round 1 earlier this year when it forced member nations into establishing the €440 bln bail-out for Greece. But as the 3-year facility is set to expire, member-nation suggest debt rescheduling as a solution, in which case would escalate the risk of default and drive up bond yields. Yields rise in Portugal, Spain and Greece have all risen over the past 2 weeks, lifting Greek-German 10-year spreads to 4-week highs by 3%.
The top half clearly shows the highly correlated difficulty for both the EURUSD and SP500 to close above their 200-week MAs, while the lower half shows the notable (and simultaneous) rise in Portuguese, Greek & Spanish 10-year spreads relative to Germany.
The aforementioned dynamics illustrate a tug of war between the QE2’s negative impact on the USD, and the onset of a disappointing FOMC announcement on an already hesitant equity market. S&P500 has yet to close above its 200-week MA (now at 1195), which was last breached in 2008. Considering the 0.79 daily correlation between EURUSD and S&P500 (highest since January), FX traders cannot disregard the S&P500’s inability to break through 1195—a failure which will likely suggest EURUSD’s inability to break out of the $1.41-1.42 congestive resistance.



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  • #319,935
  • Nov 5, 2010 4:57am Nov 5, 2010 4:57am
Quoting DMA Trader
I'm looking to buy near 1.41 if i get a chance. the trend is up again
levels i look for. 1.41 1.4 1.95
resistance area for USX 76.4

let's see the NFP should bring very good numbers to change my opinion.
hello DMA, good morning, how are you today?.......4100 is a good entrie me think but.....4000 is even bether if it get there.....to long that is, because i still think we are going to visit 4300 no mather what......I could be wrong, I have being before but.....meanwhile i'll try the sardines, and i better hurry because kuroro and FibbinArchie are taking them all from me......
The Chonchy
  • #319,936
  • Nov 5, 2010 4:59am Nov 5, 2010 4:59am
Quoting redsword11
Attachment

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  • #319,937
  • Nov 5, 2010 5:00am Nov 5, 2010 5:00am
Hello hope you dont mind me posting my thoughts here.

I learned a lesson from my losing trades .
Question to myself .
Q.why is it easy for my losers to get big while my winners easily stay small.?
Answer. I seem to take profits of 10 to 20 pips ,the first sign of retrace am out with say 20 pips.
My losers on the other hand go against say 10-20pips stay in loving the retrace back towards me ( it might go my way yet).Damn no not this time again starts to move away.Again same thoughts wen retrace.until pain gets too much an am out" THEN IT REVERSES"
Thus i have to reverse my thought process.

Currently I'am finding pulling a fib on the leg am in and saying to myself if it retace more than 50% I'll get out otherwise stay in .

Most people talk about entries its the exits I feel determine success from losing.
Any staying in trades tips welcome .
taking profits can be a losing strategy.!!!
making green pips large and red pips small this is my goal.
  • #319,938
  • Nov 5, 2010 5:02am Nov 5, 2010 5:02am
Lost 20 pips in the fight...not a big deal.
Catch you during NFP
COT: The precious data ignored
  • #319,939
  • Nov 5, 2010 5:03am Nov 5, 2010 5:03am
Quoting chonchy
hello DMA, good morning, how are you today?.......4100 is a good entrie me think but.....4000 is even bether if it get there.....to long that is, because i still think we are going to visit 4300 no mather what......I could be wrong, I have being before but.....meanwhile i'll try the sardines, and i better hurry because kuroro and FibbinArchie are taking them all from me......
Hui chonchy - I'm working on my sardines skill. thanks for your helpfull information. i have colected some sardines today. i only have one left
looking to collect more sardines near 1.415 - 1.416 and sell them before NFP
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #319,940
  • Nov 5, 2010 5:04am Nov 5, 2010 5:04am
European public trying get money out of spanish bank fearing liquidity problems. ransquawk.com
making green pips large and red pips small this is my goal.
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Gecco8