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EURUSD

  • #400,581
  • Mar 3, 2011 6:00pm Mar 3, 2011 6:00pm
Quoting buonvangvn
hello old friend. you fine?

whats up bro
  • #400,582
  • Mar 3, 2011 6:02pm Mar 3, 2011 6:02pm
h4
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  • #400,583
  • Mar 3, 2011 6:06pm Mar 3, 2011 6:06pm
Quoting mario83
Made 65pips today on short positions and because of my greed and not following original plan i didnt make 140pips that i could. Anyway great trading day for myself - good lesson learnt.


Looking at the current chart and especially D1 im with freelancer. If eur/usd hits 1.40 then it will drop hard. As i live in europe i know how crappy situation it is now. Many countries struggling with the debt and recession so there's no way euro can sky rocket high and pass 1.40 and go north. It wont happen.

Im placing 2 short orders @ 1.4005...
be careful with those words.
  • #400,584
  • Edited 6:24pm Mar 3, 2011 6:07pm | Edited 6:24pm
Quoting infinitus
Hi Mario,

you can be right very well. Around 1.4017 W2 resistance.

At 4064 daily R2.

At 4033 the zigzag legs wave C of the upmove from 28x is 0.618x wave A


If I get stopped out of my long short positions @ 3974 I will reestablish shorts later.
Hi infinitus...

hourly eu chart making some sense now wave count wise... I hate to say it but i see this going another leg higher at least.... wave one and 3 are almost the same in length so wave might fall short of 4067 in order to stay within impulse rules.

I had a long from 1.3858 and got stopped out -18 by putting SL in wrong place.. recouped by re entering at 3842... but exited to early at 3922...

there should be another pullback - at least i'm hoping... if we shoot straight up past 71 then i will scalp longs to 4017....

hope all is well... looking to re enter usdcad for long term around 9690 level with stops below previous low.

GL
  • #400,585
  • Mar 3, 2011 6:36pm Mar 3, 2011 6:36pm
monthly

http://www.forexfactory.com/attachme...3&d=1299198923


http://www.forexfactory.com/showthre...34#post4446134
  • #400,586
  • Mar 3, 2011 6:39pm Mar 3, 2011 6:39pm
going to be a slow Asian & London session ... range bound most likely until NFP & Unemployment Data.

Lots of 'risk' currencies look topped out on trends & dollar index is at support area ... NFP could push the currency market {after 2-3 weeks of hoping} in either direction ... either way most likely sidelined for longer term trades until daily close & weekly close.
  • #400,587
  • Mar 3, 2011 6:49pm Mar 3, 2011 6:49pm
Quoting malcolmb14
not much to do with the news I do not htink
.........
I hope you realize I was just havin' a little fun.

And I do track ranges which show for a while Thursday being the largest range day most weeks. Wednesday beat it by a couple this week. Friday's lately averaging right around 140
  • #400,588
  • Mar 3, 2011 6:52pm Mar 3, 2011 6:52pm
It appears the euro has left many with a bad taste in their mouth. In fact many appear scared sh*tless.

  • #400,589
  • Mar 3, 2011 6:55pm Mar 3, 2011 6:55pm
Quoting malcolmb14
look at japan per capita debt pre collapse of their economy
USA's is close to that
Europes is miles off

I would get your gun and stock up on food if you live in the usa
LOL

I like the part about the guns and food. Yes i live in the US in California. Now if i was a teabagger i would be getting some gun and stocking up on food. Thats more their style.

I will look up the japan per capita debt per collapse of their economy. However, Japan and the US is more like apples and oranges.
  • #400,590
  • Mar 3, 2011 6:56pm Mar 3, 2011 6:56pm
Hatch,

Find it & read it yourself.
  • #400,591
  • Mar 3, 2011 6:56pm Mar 3, 2011 6:56pm
Quoting bjcool74
LOL

I like the part about the guns and food. Yes i live in the US in California. Now if i was a teabagger i would be getting some gun and stocking up on food. Thats more their style.

I will look up the japan per capita debt per collapse of their economy. However, Japan and the US is more like apples and oranges.
I am in Texas ... I already have a gun and stocks of food .. what are we talking about anyways?
  • #400,592
  • Mar 3, 2011 7:01pm Mar 3, 2011 7:01pm
One can only imagine the amount of stops triggered today. $$$$

Dealers/Banks/Bucket Shops must be sipping champagne tonight.



On a more serious note - it'd be interesting to see how petty the market is tonight, would it be worth the effort to scare away stops in area approaching 1.40? Doesn't seem worth it to me. If I were a big guy I wouldn't waste a few millions.
  • #400,593
  • Mar 3, 2011 7:07pm Mar 3, 2011 7:07pm
Quoting Texas.Rich
I am in Texas ... I already have a gun and stocks of food .. what are we talking about anyways?

How Teabaggers are going to hunt and eat California hippies. They even have labels so you can choose just the right one.

Attached Image
  • #400,594
  • Mar 3, 2011 7:07pm Mar 3, 2011 7:07pm
Quoting malcolmb14
getting closer


as much as I agree with ya, it sounds very conservative... yet it is in session.
  • #400,595
  • Mar 3, 2011 7:14pm Mar 3, 2011 7:14pm
Quoting mario83
Looking at the current chart and especially D1 im with freelancer. If eur/usd hits 1.40 then it will drop hard. As i live in europe i know how crappy situation it is now. Many countries struggling with the debt and recession so there's no way euro can sky rocket high and pass 1.40 and go north. It wont happen.

Im placing 2 short orders @ 1.4005 and 1.4010 in case it hits 1.40 with SL @ 1.4035, as SL hunting always take place when price hits important levels.

any feedback is welcome
cheers
I'm glad you made pips - us spot fx traders are far more deserving of it than the smart money, institutions, banks and gov'ts that trade this and got us here but ... you're confusing current price with perceived value.

I absolutely don't doubt how crappy things are in your (European) neck of the woods, and the potential for things to get crappier, but don't short this beast until it's confirmed. And currently, there is next to no negative sentiment against the euro, and no negative news, at least that is being paid attention to.

It's risen 1070 pips from the 1.29x region, and there's reasonable chance of resistance at 1.41x/1.426, thus we're 80% of the way there. That's 200-300 pips away, a huge amount for most retail traders. I'd suggest waiting until the negativity spotlight turns to the euro - I don't think we're there now. And bear in mind the prospect of a ECB hike and the attraction it poses for real money is huge.

It's that same real and smart money that doesn't give a rat's ass about how "crappy", "hard" or otherwise the situation is for the ordinary citizen - they will short and continue offering up supply until they are ready, and they can easily handle many hundreds of pips beyond any steadfast "will never get there" 1.40 barrier. Throw in some of the complicated political, territorial, and value shifts that are happening, and you might realize that things are not as they seem.

Remember, we look to ride their coattails, and our perception is irrelelvant compared to theirs.
  • #400,596
  • Mar 3, 2011 7:18pm Mar 3, 2011 7:18pm
http://farzad.torkany.net/fx/images/EURUSD-weekly0.png

I would like you guys to analyze this chart for each of you.
What does the world cost? A shit, so sell it!
  • #400,597
  • Mar 3, 2011 7:19pm Mar 3, 2011 7:19pm
Trendline and 50 % FIB holding at present........not so easy to crack at present............
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  • #400,598
  • Mar 3, 2011 7:23pm Mar 3, 2011 7:23pm
This was a calculated move by ECB..I believe that they know the following months the EURO will be down. The DEBT hasn't gone any where. We will see it fall. I don't know though that are fearless leaders here in the USA will do anything to prop up the USD.. it will be interesting.... I am short til the 38% fib from the move up today.. It will bounce and GO TO 1.4000 and higher..
  • #400,599
  • Mar 3, 2011 7:23pm Mar 3, 2011 7:23pm
Here are targets for W1 Stop loss is highlighted.

If you are late to the party and are looking to get in today here also is you H1 retrace buy when it gets to this zone. (dotted line should be a turn around)
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  • #400,600
  • Mar 3, 2011 7:47pm Mar 3, 2011 7:47pm
This should be swift - 9.8 m/s/s
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