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  • #336,921
  • Dec 1, 2010 11:16am Dec 1, 2010 11:16am
Woohoo...surfing with the big boys there...yeehaa....
  • #336,922
  • Dec 1, 2010 11:16am Dec 1, 2010 11:16am
Just puzzled this evening why this chain of bear broken if no correction strong further ? taken the only trade today , long at 3061 was even seems risky !! now at the end of checking chart usdx looks ok having target 3280 not any bad doing.not any great correction as thought for last leg down or whole leg ,not likely from usdx . a 4th correction only corresponding ,usdx may fall to 79.99 around 73% fib retracement ( fit for 80.05 though well support ) , 80.58 now & so eu target level should work fine .

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #336,923
  • Dec 1, 2010 11:16am Dec 1, 2010 11:16am
Quoting mfoste1
no
what is your opinion on what happened if I may ask ? What could produce such a big short squeeze?
  • #336,924
  • Dec 1, 2010 11:17am Dec 1, 2010 11:17am
Donīt forget this is the first day of the month. Maybe someone tried to set up a sign.

Lena
  • #336,925
  • Dec 1, 2010 11:18am Dec 1, 2010 11:18am
Quoting Mr Hatch
i re-entered at 3120, but i don't trust the asians. i think of cashing it in and restart with tokio. when i do this, it'll drop like a rock, for sure.
Now do you see what I meant about ROR?
  • #336,926
  • Dec 1, 2010 11:20am Dec 1, 2010 11:20am
Quoting mfoste1
yea i have the same....we might be in squeeze mode....

i wanna see the reaction at 200dma
Thank You
  • #336,927
  • Dec 1, 2010 11:20am Dec 1, 2010 11:20am
Quoting cloggie
On this thread the !d!ots are outdoing the muppets in the race to the bottom. Patience is a rare commodity in the noobs posting here. Trading is not rocket science, wait for a confirmed direction and ride the "fat" part of the move, once she starts thinning out, take your profit and wait for the next train, rinse and repeat. Don't buy the resistance and don't sell the support, wait for a break, anticipate the fakeout and ride the confirmed test of the alternate, when resistance becomes support and vice versa. No Indies required, just a couple...
Cloggie, thanks much for this advice. I 'only' caught 27.1 pips of that last spike and 4.2 pips of the subsequent decline (itchy trigger finger on both counts when the price reversed a bit). I'm very happy with that.
My problem has been being patient and sitting in cash on the sidelines; I'm aware of that, as I'm a Type A personality. I'm glad that you wrote this out in your post; it forced me to look in the mirror and evaluate my trading personality.
I will try to hone this strategy.

Again, thanks to all of the experienced traders who generously post here.
  • #336,928
  • Dec 1, 2010 11:21am Dec 1, 2010 11:21am
Quoting Stackhouse
what is your opinion on what happened if I may ask ? What could produce such a big short squeeze?

covering larger shorts, stops hit....
  • #336,929
  • Dec 1, 2010 11:22am Dec 1, 2010 11:22am
Quoting newnew
I am Long from 1.3050 I will get new long on 1.3084 frist TP 1.3140 second 1.3200
I am waiting 1.3200
  • #336,930
  • Dec 1, 2010 11:22am Dec 1, 2010 11:22am
looking good
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  • #336,931
  • Dec 1, 2010 11:23am Dec 1, 2010 11:23am
Quoting beehivesjoe
The market does whatever it wants to, I wouldn't put any emotion into it. It's going to do what it wants. Stick to your method even if you're disagreeing!

Sure it does whatever it won't to do. I'm not worried because a soon as it set-up in the direction I won't, I will clean up the market. Euro futures expires next week and so that might be another factor for the euro to move up even though I doubt it.
Prices are never too high to begin buying or too low to begin selling.
  • #336,932
  • Dec 1, 2010 11:23am Dec 1, 2010 11:23am
Quoting PriceVolume
Yep. I'm still on the sidelines until the 4H turns. When Sky shows up, it will be about time to add.
lol he'll be back tomorrow.
Thank You
  • #336,933
  • Dec 1, 2010 11:24am Dec 1, 2010 11:24am
Quoting Scrat
today's price action (it can be seen very well on an h1 chart) suggests bias has changed, at least for short/medium term. it is the first time since 1.37 when we see a 'sustained' rally (in both duration and pips).

i hope everyone covered shorts. bear party seems over for now.
My novice reading on this also.
The suggestion that the ECB will engage in QE is a huge game changer; it almost takes sovereign default completely off the table.
QE has other negative impacts on one's currency and if they do QE, the EUR should continue to decline, but not until after the initial lift in the EUR.
Short term bias: EUR rising.
  • #336,934
  • Dec 1, 2010 11:24am Dec 1, 2010 11:24am
Quoting JuliusCeasar
For those whose accounts ain't "big" enough to trade commodities like gold and oil here is a nice long set up on AUD/USD as long as it stays above 0.95



Attachment
AU long coming along nicely at +40 while UC short at +50

Risk appetite is back (at least for today), why fight it buying usd.
Mind over matter..I don't mind and you don't matter.
  • #336,935
  • Dec 1, 2010 11:25am Dec 1, 2010 11:25am
eur/usd last candle (4 hour chart) is bullish outside candle.
It is against the longer term trend (downward) but if it breaks to the upside for the 4 hours the newbies can go long for a scalp.
  • #336,936
  • Dec 1, 2010 11:26am Dec 1, 2010 11:26am
Am I the only person on this forum who had no clue that this upward movement was about to happen?

Could the posters who are congratulating each other or their brilliant long positions, please explain why they took such a position - or was it perhaps just lucky timing?

And please, no comments about fakeouts etc... The fact is that we had a huge 10 minute bull run in the middle of a huge downward movement. If anyone was able to see something in the charts, stars or anywhere else, please share.

Apologies for my cynicism, I would just like to be educated as to how people identified this. Or maybe it was just luck?

Nothing wrong with luck, by the way, we all need it. Just want to know if I missed something.

And congrats longs on the last hour or so
  • #336,937
  • Dec 1, 2010 11:27am Dec 1, 2010 11:27am
gator i got gloves if you want this counter. no brown finger, I promise.
Thank You
  • #336,938
  • Dec 1, 2010 11:27am Dec 1, 2010 11:27am
Quoting mfoste1
covering larger shorts, stops hit....
I agree. As soon as it broke 1.313x it triggered some stops that made that overshoot to 1.318x. Is very clear on H4. The importance is that it cleaned the way for a potential retrace to the broken daily S 1.33xx which is a nice place (and best R:R) to look for shorts again from a daily perspective.

We'll see

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #336,939
  • Dec 1, 2010 11:27am Dec 1, 2010 11:27am
maybe if i draw enough lines it'll go down





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  • #336,940
  • Dec 1, 2010 11:28am Dec 1, 2010 11:28am
Quoting gatorinla
some dumb ass put a mofu in the road. who would of thunk?
same chart. the spike is in bear parameters. closed long .. short once more. __________________
this chart is still valid. damn ez is gonna do qe? so i guess they will print... who would of thunk?
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those who can, do. those who cant, talk about those who can
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