EURUSD

short at 1.3724.. sl 19 pips.. target..3690

i am new to forex, a rookie, but i have been reading up on trading.

im going long the eur/usd ive made some money sleeping overnight by buy at the bottom of the correction, by analyzing confluence i thought it was unlikely to hit the 23.60% fib level do to the W formation it was forming

im using many different indicators but i don't believe any of them. i think they are useful because it helps you calm your fear and stop your greed plus it tells you what everyone else is seeing, which to me is important. because many people seeing the same thing will react accordingly.

anyway i used pivot points S/R, bollingerbands, 10/30/200 moving averages, 3 diff timeframes, price action and RSI 3, (the trick is not to trust any just use them to kinda see where youre at)

but the funny thing is that when they all tell me the same thing i usually make the right trade.

right this minute i see a cup and handle formation, the price bounced of todays centra pivot point, yesterday retracement did not hit the fib level to me its a bullish signs the 10/20/30 and 200 mas are saying bullish, and price action tells me people are not in a panic to sell even if it has hit resistance level already. ill go long and watch at the fib projection meeting todays resistance pivot point, and see if people still want to buy or begin exiting their position. somewhere close to 1.37790

Long 1,3720 tp 1.3768

morning...couple of levels I'm watching on the hourly...3733, 3707, and 3674

Whats going on , the crazy back again again , return with a V turn. something must be cooking & anyway this crazy V up should be the sign of big failure as seen all time & still they not that crazy for long periods , permanent of semi.
lets see if any big BALL! or one leg up as telling many .
fontu

same goes for the Aussie ... {as far as craziness !!!}

got a s sig setting up atm

D

wonder what a state of 'Democracy' for Egypt, Jordan, etc would mean for the Euro & Dollar alike ...

we can see already after bb qe. what has happened. in a few months it will just be worse as commodities rise.

i have a feel like this hourly will be bearish.. may be because i m in short.. the support below is now held on 3719.. i will wait for this hourly close if below 3711 then keep my short till target.. otherwise exit..

fed's longterm paper stash holdings has now reached {or will within days} 1 trillion, longterm being 1+ years ...

So OUR fed holds more then any other country in the world ... I have actually come to admire BB and others like him in a distinct and narrow-minded way.

The way being, greedy or not, having a conscious or not, they are rich and achieved what they set to do ... can't argue that !

edit - as far as commodities, until China or someone finally goes 'why the F*&k is gold so high'

Morning all !!!

No, that probably wouldn't do it. If China said, "we don't need any more copper, or iron ore, or nickel, or wheat, or soybeans" and so did 117 other countries, then we wouldn't have to worry about commodity price increases.

BTW @gatorinla: nice little call at 11:44E

Yeah , I think all this craziness due only people for any reason selling the usd or trying hold commodities back to up again where they invested majore parts may be & certainly very short term.

there are signs that thing getting change in time , usdx H1,M5,& M15 in confirmed buy signal while m30 sell & H4 sell though and m30 buy signal also suggest retracement up again before sells .

so may go down but limited or started down with double top may start from here with a smaller double bottom also .
lets see .
fontu

edit/accidental post ...

that was a sarcastic note read in to deep by prof. OldQuant ... {no pun intended}, not to mention the wrong reference was assumed by you.

The reference I was referring to as far as commodities was gold being a global and most valuable currency for 1000's of years ... not the manufacturing or livelihood aspect of the commodity market ...

In other words, China is paying their 'free market mines' about 50% value for all the gold they are finding, I think about 1ton per year, with an estimated 8-10 years worth left in those 'major' mines ... after that it is 'good luck next decade' for China and mining 'cheap' gold.

So I was saying I am waiting for China to say 'why the F*&K is gold so expensive {as in itself}' ... when China is just playing catch-up with the U.S., IMF & Germany {of course about 99% of IMF gold is given by U.S. ... & Germany reserves, or much of it, is located in DC} ...

fontu, i disagree with you, your elliot wave analysis doesn't hold up on a daily, chart the 3 leg should be longer than the 1, doesnt seem to be that long, but the beauty of this market is that, one of us is wrong and we can see later on. as the winner will take profits.

i like to look at all time frames, because sometimes weekly, daily, and 4 hr paint an overall picture, i trade the 15 minute but i find it narrow view, same goes with all the hr charts, the day will tell you the direction of the trend, we have barely crossed moving averages to the upsite, and we are close to hitting the 1.618 fib projection, but if you look at the weekly, seems odd that it will just tank after that. i think maybe 2.618 might be hit.

I misunderstood. Sarcasm is something I hold in high regard.

i made a decision now
that i will hold my short till target or my stop loss.