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  • #1,161
  • Apr 12, 2011 1:17pm Apr 12, 2011 1:17pm
baz & aus1way,

Thank you for your kind words gentlemen.

I will still drop by from time to time and hope this thread won't die completely!

Regards,

Dan
  • #1,162
  • Apr 12, 2011 4:30pm Apr 12, 2011 4:30pm
Quoting DanUK
Since many forex pairs are closely correlated and essentially linked to USD strength/weakness it makes sense to me to focus on just a couple of currency pairs instead of them all. I think it is fair to say that even in these volatile times the E/U still offers the easiest trend trades and so I am focusing most of my energy on that pair.
I'm glad to hear you say this, Dan. My bias has always been to concentrate on a few pairs (or even 1), learn to master it, then (if you really need to), add another pair or 2 and get really good with those few, rather than stretching over so many that it's hard to give them the proper attn they deserve.

Kind Regards,
Neo
Sentiment: Short on cash. Long on hope.
  • #1,163
  • Apr 28, 2011 1:00am Apr 28, 2011 1:00am
Quoting DanUK
baz & aus1way,

Thank you for your kind words gentlemen.

I will still drop by from time to time and hope this thread won't die completely!

Regards,

Dan
hi dan,

here is eur usd chart, should we exit at around 1.5000 (red area) or we wait again?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd daily 28apr2011.jpg Size: 120 KB
yesterday was good, today is the best, tomorrow is amazing.....
  • #1,164
  • Apr 29, 2011 3:52am Apr 29, 2011 3:52am
Quoting danielabas
hi dan,

here is eur usd chart, should we exit at around 1.5000 (red area) or we wait again?
Attachment
Hi danielabas,

That depends on your angle on trade management. I try to ride the trend for as long as it remains "technically" valid. So I personally won't exit any of my position at 1.5000 and will continue to look to add to my trades on retracements. I will wait until I see the trend changing before exiting - but that is just my personal preference; I have come to realise that each trader has to find the exit strategy that they are comfortable with. I am comfortable with my strategy but it often means giving up a large amount of profit when the trend comes to an end (which others may not be comfortable with)... however it also means I am likely to catch more of the trend by not exiting too early (as I don't believe anyone truly knows when a trend is going to end).

Hope that helps!

Regards,

Dan
  • #1,165
  • Apr 29, 2011 5:00am Apr 29, 2011 5:00am
Quoting DanUK
Hi danielabas,

That depends on your angle on trade management. I try to ride the trend for as long as it remains "technically" valid. So I personally won't exit any of my position at 1.5000 and will continue to look to add to my trades on retracements. I will wait until I see the trend changing before exiting - but that is just my personal preference; I have come to realise that each trader has to find the exit strategy that they are comfortable with. I am comfortable with my strategy but it often means giving up a large amount of profit when...
thank you dan, i will hold it.the fundamental factors of euro is good so far.i will see what is happening next (actually i am still learning fundamental factors). about technical i thank to you for suggesting me omitting weekly monthly auto pivot calculation. now i find it useless using auto pivot indicators.


rgds,

daniel
yesterday was good, today is the best, tomorrow is amazing.....
  • #1,166
  • May 6, 2011 1:54am May 6, 2011 1:54am
If I wasn't already in I would be thinking that the EUR/USD looks good for a buy around 1.4500...

Any other thoughts out there?
  • #1,167
  • May 6, 2011 2:50am May 6, 2011 2:50am
Not sure I'd go long the EU on the eve of the NFP.
Sentiment: Short on cash. Long on hope.
  • #1,168
  • May 6, 2011 6:49am May 6, 2011 6:49am
Quoting NeoRio
Not sure I'd go long the EU on the eve of the NFP.
Doesn't scare me lol!
  • #1,169
  • May 6, 2011 7:58am May 6, 2011 7:58am
Quoting DanUK
If I wasn't already in I would be thinking that the EUR/USD looks good for a buy around 1.4500...

Any other thoughts out there?
Hi DanUK,

I like your method, and start to read this thread hardly ( because not good at English)

it seems that where the price will go is not clear enough.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 18 KB
Try to understand English Try to understand Forex
  • #1,170
  • May 6, 2011 11:44am May 6, 2011 11:44am
Quoting Activer
Hi DanUK,

I like your method, and start to read this thread hardly ( because not good at English)

it seems that where the price will go is not clear enough.

Attachment
I agree - strong downward momentum makes it hard to keep confidence in the uptrend but until the price has shown a true reversal I will continue to hold on! This bitch destroyed 1.4500 though!

The low of around 1.4250 will be a turning point as far as I am concerned.

Regards,

Dan
  • #1,171
  • May 6, 2011 11:46am May 6, 2011 11:46am
Quoting DanUK
I agree - strong downward momentum makes it hard to keep confidence in the uptrend but until the price has shown a true reversal I will continue to hold on! This bitch destroyed 1.4500 though!

The low of around 1.4250 will be a turning point as far as I am concerned.

Regards,

Dan
have a look at this article DAN..

http://www.businessinsider.com/greec...ng-euro-2011-5
  • #1,172
  • May 6, 2011 11:51am May 6, 2011 11:51am
Quoting baz
have a look at this article DAN..

http://www.businessinsider.com/greec...ng-euro-2011-5
Interesting stuff baz... don't get me wrong - personally I see the demise of the Euro as inevitable. Eventually the market will overcome the political will and the whole sordid affair will come crashing down. And I will rejoice! But I can't trade opinions I can only trade what the chart tells me!

If this proves to be a trend change I will happily jump in but at the moment shorting the Euro is counter-trend which is something I try to avoid.

Regards,

Dan
  • #1,173
  • May 6, 2011 11:58am May 6, 2011 11:58am
Quoting DanUK
Interesting stuff baz... don't get me wrong - personally I see the demise of the Euro as inevitable. Eventually the market will overcome the political will and the whole sordid affair will come crashing down. And I will rejoice! But I can't trade opinions I can only trade what the chart tells me!

If this proves to be a trend change I will happily jump in but at the moment shorting the Euro is counter-trend which is something I try to avoid.

Regards,

Dan
For sure i , i know your Strategy...BUT since you and i was wondering " WHAT THE HELL CAUSED it TO move So Much "
No idea ...if there is any truth in it...
But also Good to see you back in Your Cave !!

baz
  • #1,174
  • May 6, 2011 12:08pm May 6, 2011 12:08pm
The WEEKLY is a BEEB...and a Huge Bar as compared to the Bullish Bars..
possible Lower move Next week as well..

USD Spot.png
Attached Image (click to enlarge)
Click to Enlarge Name: USD Spot.png Size: 11 KB
  • #1,175
  • May 6, 2011 12:37pm May 6, 2011 12:37pm
Quoting baz
For sure i , i know your Strategy...BUT since you and i was wondering " WHAT THE HELL CAUSED it TO move So Much "
No idea ...if there is any truth in it...
But also Good to see you back in Your Cave !!

baz
Lol!

I also heard something about commodity trading rules changing in the US that may have serious ramifications for traders over there... whether it is true or not I don't know.

I do also take note of that big BEEB on the weekly although I personally won't trade it (a good example of why is a similar bar from 08/08/2010 - similar sized down bar and everyone was shouting SELL SELL! Didn't work out though!). But I will certainly be watching the charts closely next week. Reaction not prediction is my general rule in these situations! I personally have no ability to predict what the market will do so I can only trade what I see happening!

Regards,

Dan
  • #1,176
  • May 6, 2011 5:16pm May 6, 2011 5:16pm
Quoting DanUK
Lol!

I also heard something about commodity trading rules changing in the US that may have serious ramifications for traders over there... whether it is true or not I don't know.

I do also take note of that big BEEB on the weekly although I personally won't trade it (a good example of why is a similar bar from 08/08/2010 - similar sized down bar and everyone was shouting SELL SELL! Didn't work out though!). But I will certainly be watching the charts closely next week. Reaction not prediction is my general rule in these situations! I personally...
I agree ..trade what the Price Action Tells us...
Monthly remains Bullish...we have had a break of TrendLine and also a ressistance Level Broken to the Upside...and as you know..a retest can Take place...

baz
USD Spot.png
Attached Image (click to enlarge)
Click to Enlarge Name: USD Spot.png Size: 11 KB
  • #1,177
  • May 7, 2011 3:14am May 7, 2011 3:14am
Nice charts everybody. Glad to see this thread breathe some life!

NeoRio
Sentiment: Short on cash. Long on hope.
  • #1,178
  • May 7, 2011 9:35am May 7, 2011 9:35am
watching it closely!
Whether you can or you can't, you are both right.
  • #1,179
  • May 9, 2011 3:27am May 9, 2011 3:27am
Looks like price has just been rejected by the resistance area marked. Hope to see some lower lows now for shorts or if price rises and brakes prev highs around 1.5100 will look for more longs.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 18 KB
  • #1,180
  • May 9, 2011 4:41am May 9, 2011 4:41am
Quoting DanUK
The low of around 1.4250 will be a turning point as far as I am concerned.

Regards,

Dan
I also think this area is interesting if it's broken I can see it heading a long way down.
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