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  • #335,141
  • Nov 29, 2010 10:13pm Nov 29, 2010 10:13pm
Quoting sidhujag
I think this may be a good opportunity for long for good R:R. Monthly trendline test.
it's only 0400 GMT, and we are testing 1.3080 support {again} ... I think we are headed for 1.3000 if not lower by London close.
  • #335,142
  • Nov 29, 2010 10:14pm Nov 29, 2010 10:14pm
Quoting mikej2010
it's only 0400 GMT, and we are testing 1.3080 support {again} ... I think we are headed for 1.3000 if not lower by London close.
1.25584
  • #335,143
  • Nov 29, 2010 10:14pm Nov 29, 2010 10:14pm
Quoting Duce
Maybe weekly TL...not monthly


No not weekly.. I meant monthly.

Check it out.. if we make a new low then cancel it. Yea I'm just telling you... wait for volume on the down move to come in and make sure we don't make a new low. Even better if you get a squat bar or NS bar or something.

Anyways unless that was major buying today this thing could break it easily and go on a tear to test 1.258 area!
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  • #335,144
  • Nov 29, 2010 10:17pm Nov 29, 2010 10:17pm
bang bang!
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  • #335,145
  • Nov 29, 2010 10:18pm Nov 29, 2010 10:18pm
Quoting sidhujag
I think this may be a good opportunity for long for good R:R. Monthly trendline test.
Sorry, but I doubt it.
  • #335,146
  • Nov 29, 2010 10:20pm Nov 29, 2010 10:20pm
Quoting GulfCoastPip
1.25584
I am central U.S. time {10pm} at 4am here, {10gmt} A LOT of EURO news comes out including 'EUR Euro-Zone Consumer Price Index'.

With inflation there, I think that won't be to great and drive the EURO down, add-in the other 'news' and down even further.

& then ON TOP of that is a Sh*t load of U.S. data due out in the morning {14-16 gmt I think} and with that is ;USD Consumer Confidence' which should come in good for it being 'holiday' season. Spending for the black friday weekend was up 6% {.2 on friday, but the rest of the weekend was up} & so I think that the rest of this forex trading day is going to be damage to the EURO & AUD.

Mix in potential 'debt' news & maybe 'Korea' news. Doesn't look to good to go 'long' on Euro. Not even for short scalps. IMO of course.
  • #335,147
  • Nov 29, 2010 10:21pm Nov 29, 2010 10:21pm
Morning
I think this very good post deserve to read it and think
http://www.forexfactory.com/showpost...postcount=3643

Catch u later
  • #335,148
  • Nov 29, 2010 10:22pm Nov 29, 2010 10:22pm
Quoting Clouds
Sorry, but I doubt it.
Just saying.. its there and usually these kind of times you see the biggest moves.. but the sheep are Net Long still so your probably right... we'll see.
  • #335,149
  • Nov 29, 2010 10:22pm Nov 29, 2010 10:22pm
Quoting sidhujag
No not weekly.. I meant monthly.

Check it out.. if we make a new low then cancel it. Yea I'm just telling you... wait for volume on the down move to come in and make sure we don't make a new low. Even better if you get a squat bar or NS bar or something.

Anyways unless that was major buying today this thing could break it easily and go on a tear to test 1.258 area!
I don't suggest you use monthly bars at such a magnified view - you're losing too much detail.

That trendline/ship has sailed, and sunk ... new low coming up any hour now. Longs are done.
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  • #335,150
  • Nov 29, 2010 10:22pm Nov 29, 2010 10:22pm
Quoting mikej2010
I am central U.S. time {10pm} at 4am here, {10gmt} A LOT of EURO news comes out including 'EUR Euro-Zone Consumer Price Index'.

With inflation there, I think that won't be to great and drive the EURO down, add-in the other 'news' and down even further.

& then ON TOP of that is a Sh*t load of U.S. data due out in the morning {14-16 gmt I think} and with that is ;USD Consumer Confidence' which should come in good for it being 'holiday' season. Spending for the black friday weekend was up 6% {.2 on friday, but the rest of the weekend was up}...
I'm on Central time too. This isn't a 5 minute chart trade, much longer term than that. It's all in the chart.
  • #335,151
  • Nov 29, 2010 10:24pm Nov 29, 2010 10:24pm
levels....currently bouncing off 50(1874-4283)

resistance strong at 3200 even stronger at 3311....

stronger support near 2850

china concerns rising so anything can happen today....do urself a favor and use stops.
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  • #335,152
  • Nov 29, 2010 10:24pm Nov 29, 2010 10:24pm
Quoting Beljevina
I don't suggest you use monthly bars at such a magnified view - you're losing too much detail.

That trendline/ship has sailed, and sunk ... new low coming up any hour now. Longs are done.
I agree
FF journal: Peaks and Troffs
  • #335,153
  • Nov 29, 2010 10:27pm Nov 29, 2010 10:27pm
Quoting sidhujag
No not weekly.. I meant monthly.

Check it out.. if we make a new low then cancel it. Yea I'm just telling you... wait for volume on the down move to come in and make sure we don't make a new low. Even better if you get a squat bar or NS bar or something.

Anyways unless that was major buying today this thing could break it easily and go on a tear to test 1.258 area!
My Monthly....

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Si vis pacem, para bellum.
  • #335,154
  • Nov 29, 2010 10:28pm Nov 29, 2010 10:28pm
Everyone ... on the count of 3 ... SELL ... 1 ... 2 ...
  • #335,155
  • Nov 29, 2010 10:28pm Nov 29, 2010 10:28pm
Quoting Beljevina
I don't suggest you use monthly bars at such a magnified view - you're losing too much detail.

That trendline/ship has sailed, and sunk ... new low coming up any hour now. Longs are done.
I did that on purpose... the trendlines aren't exactly always respected aslong as a new high is made to throw people off. The new high would mean the new trendline would get placed on the low we are on if it did rip upwards.

But like I said since the sheep are all net long on EU, GU, NU etc then it probably means bear power. I sure hope we don't see the style of selloff we saw in 08.
  • #335,156
  • Nov 29, 2010 10:32pm Nov 29, 2010 10:32pm
Quoting sidhujag
I did that on purpose... the trendlines aren't exactly always respected aslong as a new high is made to throw people off. The new high would mean the new trendline would get placed on the low we are on if it did rip upwards.

But like I said since the sheep are all net long on EU, GU, NU etc then it probably means bear power. I sure hope we don't see the style of selloff we saw in 08.
I have already made plenty off going short EURO in long term & scalping lately.

At this point, I will bet against the EURO blind, knowing that it can go up 1.40 and I would break even. {with lower value pips of course}.


I am going to play the game of adding a $1 pip every time I break a daily support. & put my SL at 1.3310 or around that area ... adjusting accordingly.
  • #335,157
  • Nov 29, 2010 10:35pm Nov 29, 2010 10:35pm
chart telling me we have much much room to go lower....


if the 200 dma cant hold then you can put one more nail in the coffin.
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  • #335,158
  • Nov 29, 2010 10:37pm Nov 29, 2010 10:37pm
Quoting mikej2010
I have already made plenty off going short EURO in long term & scalping lately.

At this point, I will bet against the EURO blind, knowing that it can go up 1.40 and I would break even. {with lower value pips of course}.


I am going to play the game of adding a $1 pip every time I break a daily support. & put my SL at 1.3310 or around that area ... adjusting accordingly.
Good idea.. that's perfect!
  • #335,159
  • Nov 29, 2010 10:37pm Nov 29, 2010 10:37pm
Quoting mfoste1
chart telling me we have much much room to go lower....


if the 200 dma cant hold then you can put one more nail in the coffin.
*in real time*

wait for it ...

wait for it ...

BROKEN 1.3077

all down hilll from here, i am expecting bounce at 1.3060 ish

'edit'

nail in coffen? I am going to open a funeral home to bury this bastard & cash out.
  • #335,160
  • Nov 29, 2010 10:41pm Nov 29, 2010 10:41pm
Quoting mikej2010
*in real time*

wait for it ...

wait for it ...

BROKEN 1.3077

all down hilll from here, i am expecting bounce at 1.3060 ish

'edit'

nail in coffen? I am going to open a funeral home to bury this bastard & cash out.

this can go either way, it holds 80 and 50% fib extension could define a reversal. But only to 1.32 or something
Know when to hold em, Know when to fold em!
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