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  • #341,801
  • Dec 8, 2010 3:26am Dec 8, 2010 3:26am
Quoting T@rantula
This what u are seeing in called a MOMENTUM breakout. If u switch to m5 U can see MOMENTUM candles.
i have trend lines and fib levels on 50 61.2 that quick sell off might be a fackie. hourly close should give more confirmation
  • #341,802
  • Dec 8, 2010 3:26am Dec 8, 2010 3:26am
Quoting emene
...
tanked 200 pips since he flapped his gums. I only speak the truth
Thank You
  • #341,803
  • Dec 8, 2010 3:28am Dec 8, 2010 3:28am
Quoting wormboy
tanked 200 pips since he flapped his gums. I only speak the truth
"flapped his gums " made me laugh ty
making green pips large and red pips small this is my goal.
  • #341,804
  • Dec 8, 2010 3:29am Dec 8, 2010 3:29am
Yep. I thought we could benefit from a small free laugh.

Quoting wormboy
tanked 200 pips since he flapped his gums. I only speak the truth
Hello.
  • #341,805
  • Dec 8, 2010 3:29am Dec 8, 2010 3:29am
Quoting BlueGas
"Iceland central banks cuts key interest key rate to 4.5% from 5.5%"
I guess this news made this quick move
yup. bagholders freakin
"If The Fool persists in his Folly he will become wise." - William Blake
  • #341,806
  • Dec 8, 2010 3:29am Dec 8, 2010 3:29am
Quoting mercy seat
ASIA DAILY FOREX OUTLOOK - Majors
8 Dec 2010, 00:33

SINGAPORE (Dow Jones)

EUR/USD - to trade with risks skewed lower. Undermined by positive USD sentiment, sustained worries over euro-zone debt crisis even as Ireland passes 2011 austerity budget. But EUR sentiment soothed by 1.6% rebound in German October manufacturing orders. Data focus: 1100 GMT German October industrial production. EUR/USD daily chart negative-biased as MACD in bearish mode, stochastics turning bearish. Support at 1.3242 (Monday's low); breach would expose downside...

http://cdn.forexfactory.com/images/attach/pdf.gif 2010-12-08_08h25_European Forex Technicals - USD Regains Its Poise.pdf (8.9 KB)





European Forex Technicals: USD Regains Its Poise
8 Dec 2010, 08:25

By Francis Bray
A DOW JONES NEWSWIRES COLUMN



Intraday EUR/USD: the bear wave off Monday's high at 1.3452 is approaching key support in the 1.3185/1.3195 area. In order to keep euro bulls in control, support at 1.3185 needs to hold and prompt a recovery back above 1.3280, to protect the rally off the Nov. 30 reaction low at 1.2969. Failure to keep 1.3185 would create scope for weakness to 1.3060 initially, but leave the 1.2969 low vulnerable in the slightly longer-term. Regaining ground above 1.3306 would attract fresh bull pressure towards Tuesday's 1.3401 high.

Weekly chart EUR/USD trend: Bearish.


http://cdn.forexfactory.com/images/attach/png.gif 2010-12-08_10h28_ EURUSD _ 015min _ (1100 x 800).PNG (34.4 KB)



;-)
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-12-08_10h28_ EURUSD _ 015min _ (1100 x 800).PNG Size: 34 KB
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File Type: pdf 2010-12-08_08h25_European Forex Technicals - USD Regains Its Poise.pdf   9 KB | 312 downloads
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #341,807
  • Dec 8, 2010 3:30am Dec 8, 2010 3:30am
Quoting T@rantula
ofcourse. The higher the TF the better.
Thank you T.

It looks we got just the the same candles in the opposite direction. profit taking? It seem like we are struggling to go through 1.32.
  • #341,808
  • Dec 8, 2010 3:31am Dec 8, 2010 3:31am
Exited short i had at 3224 @ 31839 locked in profit, waiting for bounce up to reenter my short
  • #341,809
  • Dec 8, 2010 3:31am Dec 8, 2010 3:31am
ah 20 pips down for today bad start.
  • #341,810
  • Dec 8, 2010 3:32am Dec 8, 2010 3:32am
Quoting paul1
"flapped his gums " made me laugh ty
Quoting emene
Yep. I thought we could benefit from a small free laugh.
good way to start the day with a laugh or two ... not sure sky would appreciate it tho lol

have a great day fellas
Thank You
  • #341,811
  • Dec 8, 2010 3:32am Dec 8, 2010 3:32am
Guys that dollar rally was caused by North Korea launching shells again
  • #341,812
  • Dec 8, 2010 3:33am Dec 8, 2010 3:33am
Quoting Vladimir1987
ah 20 pips down for today bad start.

I bet you're not the only one to have been caught out by that move down. Good luck for your next trade.
  • #341,813
  • Dec 8, 2010 3:36am Dec 8, 2010 3:36am
Quoting Pipwanderer
i have trend lines and fib levels on 50 61.2 that quick sell off might be a fackie. hourly close should give more confirmation
well, as we know a fake breakout happens when there is a profit taking.

Yes this was a fake breakout (double hammers ) due to profit taking. This could also mean an ordinary pullback on m15 tf. just to add some more

Moreover, when u take profit in bearish market, u automatically BUY back into the market, thus the retracement.
  • #341,814
  • Dec 8, 2010 3:36am Dec 8, 2010 3:36am
Important rejection on the 1st attempt to break NFP daily bar. Below that is air in my books. We'll see.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #341,815
  • Dec 8, 2010 3:39am Dec 8, 2010 3:39am
I'm looking for a retracement back to the old NFP Support now resistance area of 3250. From there we may go to 2970.
  • #341,816
  • Dec 8, 2010 3:40am Dec 8, 2010 3:40am
waiting for good set ups it key to success in this business
  • #341,817
  • Dec 8, 2010 3:41am Dec 8, 2010 3:41am
Quoting sisse
Important rejection on the 1st attempt to break NFP daily bar. Below that is air in my books. We'll see.

sisse
Exactly mate. air is below.
  • #341,818
  • Dec 8, 2010 3:42am Dec 8, 2010 3:42am
Quoting Pipwanderer
waiting for good set ups it key to success in this business
Waiting is not enough IMO. Taking consistently every single one without hesitation is the key (obviously if you have a statistical edge r:r).

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #341,819
  • Dec 8, 2010 3:42am Dec 8, 2010 3:42am
I have exited all my shorts from 132.60 area.. the pin bar with high volume on 30 minute and hourly dosent look good ..
  • #341,820
  • Dec 8, 2010 3:43am Dec 8, 2010 3:43am
Quoting sisse
Waiting is not enough IMO. Taking consistently every single one without hesitation is the key (obviously if you have a statistical edge r:r).

sisse
Agree with u here. Yesterday i left the 385 alone didnt want to risk...
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