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  • #323,761
  • Nov 11, 2010 2:43am Nov 11, 2010 2:43am
Quoting DMA Trader
major resistance into 1.38-1.383
there is a good chance we can resume downtrend targeting 1.365 or lower
It might even break 35 on the downside.

How quiet will today be? It is a banking holiday.
Not all sins are created equal
  • #323,762
  • Nov 11, 2010 2:43am Nov 11, 2010 2:43am
Well, Tokyo closes in 15min, giving us a dip seems (as those suckers used to do). I doubt pair can make it over 1.3820/30 area though.

So, bigger risk downside is there. (Buyers might come when Tokyo finishes.)
They think they are smarter than I am.
  • #323,763
  • Nov 11, 2010 2:44am Nov 11, 2010 2:44am
Quoting redsword11
Attachment



closed, small gain
we might reach the yellow target again. but we have a hard level to pass near 1.3835-1.385
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #323,764
  • Nov 11, 2010 2:44am Nov 11, 2010 2:44am
Quoting PriceVolume
LOL! Hell no man....lower. Then I'll look to unload...might give you a call around 3400ish, depending on PA...
3400 would be dream spot to load up before an upswing.
Not all sins are created equal
  • #323,765
  • Nov 11, 2010 2:45am Nov 11, 2010 2:45am
at 745 50% retrace of up move buyers could kick in if not 720 next buyer opp. it that one fails the last chunk of support is 670-709 which i think should hold...

im waiting im kinda bull oriented for today but need a good reason to enter- a sign of bulls...
  • #323,766
  • Nov 11, 2010 2:45am Nov 11, 2010 2:45am
Quoting Jay Walker
Those of you who are short, I'm buying.

Call me.
Ok , a sharp spike to 3824 ( 3808/20 ok ) ready & likely may be before sky falling perhaps .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #323,767
  • Nov 11, 2010 2:46am Nov 11, 2010 2:46am
if it closes below 1.368 the real fun starts
  • #323,768
  • Nov 11, 2010 2:46am Nov 11, 2010 2:46am
Quoting Jay Walker
It might even break 35 on the downside.

How quiet will today be? It is a banking holiday.
ignoring all QE BS, G20 bs, greece bs and just looking at the chart

1.35 would be a buy on weekly.
also the big range on weekly has a lot of support 1.365-137
so medium-long term risk to the downside.
short term to the upside
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #323,769
  • Nov 11, 2010 2:46am Nov 11, 2010 2:46am
Quoting Z3iz3i
Well, Tokyo closes in 15min, giving us a dip seems (as those suckers used to do). I doubt pair can make it over 1.3820/30 area though.

So, bigger risk downside is there. (Buyers might come when Tokyo finishes.)
It's more like a banking-holiday-G20-heading-into-Friday-nothingness sideways combo right now.

Daily has been pretty well static the past couple days.
Not all sins are created equal
  • #323,770
  • Nov 11, 2010 2:48am Nov 11, 2010 2:48am
Quoting DMA Trader
major resistance into 1.38-1.383
there is a good chance we can resume downtrend targeting 1.365 or lower
mm.. i think maybe not..look at ur USDX daily mate....
am still no take on EU n just took a few post on GU on Tue till yesterday...
1 new post yesterday at GU hit BE+25 n 1.62060 short am still holding it at BE+300 (i am using 5 decimal)..hit mean i am done for this Quarter where gold gave me the superb profit.

So today am not suprice to see EU will go to n test at least 1.3950-1.4040/80 then back to smack down for making a confirmation for an overall trend by this week close...
then perhaps i would join later...

current weekly am still bear bias

so look at CHF as well..not a good idea for shorting EU i think....just my 2 cent

g
  • #323,771
  • Nov 11, 2010 2:48am Nov 11, 2010 2:48am
Quoting Jay Walker
3400 would be dream spot to load up before an upswing.
Even I would long this from there, upon resumption. I'm still curious as to what we're going to see with QE2. Will any gains be sustainable given so much is priced in? Or will each operation just be a scheduled pump-and-dump? I don't presume to have the answer.....
  • #323,772
  • Nov 11, 2010 2:49am Nov 11, 2010 2:49am
What about none and it become in a nice perfect consolidation range until the 2ns semester next year. Lately, I have start thinking about that possibility that will also be supported by fundamentals if G20 etc reach an not signatory agreement stopping any currency "war" and let the range play on until QE2, austerity, debt, and inflation settle down....

Just a scenario to consider.

sisse

Quoting fontu
great pictures they are , still usdx to work more to convert great bear continuation to great bull to start.weldone, the world may deserve this revolution /fights back much sooner. Bold step .
fontu
Pending conversations? PM for a chat...I am mainly in OTM now
  • #323,773
  • Nov 11, 2010 2:51am Nov 11, 2010 2:51am
Night all....trailing stops will figure the rest out....good luck
  • #323,774
  • Nov 11, 2010 2:51am Nov 11, 2010 2:51am
Quoting DMA Trader
major resistance into 1.38-1.383
there is a good chance we can resume downtrend targeting 1.365 or lower
yesterday's high and 50% fr of last major down swing...
  • #323,775
  • Nov 11, 2010 2:52am Nov 11, 2010 2:52am
Quoting PriceVolume
Night all....trailing stops will figure the rest out....good luck
gn8
Hero calls followed by margin calls...
  • #323,776
  • Nov 11, 2010 2:53am Nov 11, 2010 2:53am
Quoting DMA Trader
we might reach the yellow target again. but we have a hard level to pass near 1.3835-1.385


Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 130 KB



just avoiding it, alterrnative view
  • #323,777
  • Nov 11, 2010 2:53am Nov 11, 2010 2:53am
Quoting PriceVolume
Even I would long this from there, upon resumption. I'm still curious as to what we're going to see with QE2. Will any gains be sustainable given so much is priced in? Or will each operation just be a scheduled pump-and-dump? I don't presume to have the answer.....
If I had the answer to that, I'd be rich enough to buy Bernanke's beard and knit it into toilet paper.

All I can do is give it my best guess. It'll be a bit like 2008 with the "flight to safety".

The Germans, wanting to keep their exports up will leak out the few things in the press about Greece, Portugal, Ireland and so on to play down the Euro.

My best guess doesn't mean much and by this time next week, I may have done a 180 on it. Either way, I'm ready to roll.
Not all sins are created equal
  • #323,778
  • Nov 11, 2010 2:54am Nov 11, 2010 2:54am
Quoting grashid
mm.. i think maybe not..look at ur USDX daily mate....
am still no take on EU n st a few post on GU on Tue till yesterday...
1 new post yesterday in GU hit BE+25 n 1.62060 short am still holding it at BE+300 (i am using 5 decimal)..hit mean i am done for this Quarter where gold gave me the superb profit.

So today am not suprice to see EU will go to at least 1.3950-1.4040/80 then back to smack down for making a confirmation for an overall trend by this wek close...

so look at CHF as well..no a good idea for short EU i think....just my 2 cent

g...
until now downtrend has been respected. I agree with USX daily. i've said yesterday. but look on the chart how fast gains on usd were lost 2 times. this time it's not going that way.

also check EUR vs CAD AUD JPY CHF . EUR lost big. that didn't happen in 19 and 27 oct. so this time could be different. anyway. on a 4H chart of USX you see price go respecting uptrend.

of course we could get higher. even from here. 1.375-1.3735 had support.

Simple as this. look on a 15 M chart EUX and USX. they both are falling right now. both currency's are bad.


we just don't know for sure which one is worse
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #323,779
  • Nov 11, 2010 2:54am Nov 11, 2010 2:54am
Quoting Delite
Morning!

Why would you act on one but not the other?

Just curious.
That' a whole....but this specific candle (start of European market) could have be the trigger for a potential upside move if it had closed in the green.
It was above a support...printing higher high higher low...and it could have printed higher close...but it didn't.
COT: The precious data ignored
  • #323,780
  • Nov 11, 2010 2:54am Nov 11, 2010 2:54am
Quoting sisse
If I may ask Red what was your R:R for that trade? .... Is the same you posted a few hours ago?

thanks

sisse

poor RR, just one of those trades happy to see closed
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