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EURUSD

  • #549,121
  • Oct 11, 2011 10:01am Oct 11, 2011 10:01am
Eur come back so strong hummm short is very danger now
  • #549,122
  • Oct 11, 2011 10:06am Oct 11, 2011 10:06am
Quoting Pipbumper
went long eu at 1.3570. Think it should retest the top at 1.37. Previous top was not high enough to reach monthly pivot. Think some nice short opportunities above 1.3720.
before shorting, better wait for this level, at least. If it does not get there, at least you did not loose money. If it does, not sure still it will go down, only chances get bigger
  • #549,123
  • Oct 11, 2011 10:07am Oct 11, 2011 10:07am
Quoting TheBanker
Got a call from trichet telling me to go ahead and short euros.
look at EU. Gone up exactly from my level !!

Thatīs why i told you, not to write such kind of rubbish!

  • #549,124
  • Oct 11, 2011 10:07am Oct 11, 2011 10:07am
Better wait 1,3650 before thinking about shorting it
COT: The precious data ignored
  • #549,125
  • Oct 11, 2011 10:10am Oct 11, 2011 10:10am
EUR/USD

Daily candle shows a slow down in momentum with resistance at 1.3690. The next few days it will be choppy since the market is trying to determine which direction to go. Right now RSI is overbought. Consolidation of price at 1.3700. The 1.3700 area is a strong resistance area and with the current market of the EUR Zone, most likely the break will not happen. I have a pending short order at 1.3690 with ten pips below the major resistance.

Pocketed 60 pips from last night move but market have not still decided to go. Exited the trade with above pending order.
  • #549,126
  • Oct 11, 2011 10:11am Oct 11, 2011 10:11am
Last wave up is an impulse , limit now3614 before further up.with strong up mode the less the expect for this correction.
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: usd22.gif Size: 7 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #549,127
  • Oct 11, 2011 10:11am Oct 11, 2011 10:11am
Quoting kuroro001
Better wait 1,3650 before thinking about shorting it
Maybe better not trade today? Someone from you take a rest? Be sniper
Once scalper always scalper
  • #549,128
  • Oct 11, 2011 10:12am Oct 11, 2011 10:12am
Lower highs so far at this area of resistance. It will be interesting if we break through, but bias remains short around the 3650 area.
  • #549,129
  • Oct 11, 2011 10:14am Oct 11, 2011 10:14am
Quoting freemen
Maybe better not trade today? Someone from you take a rest? Be sniper
I'll rest during the week end
COT: The precious data ignored
  • #549,130
  • Oct 11, 2011 10:15am Oct 11, 2011 10:15am
Quoting tuantran02
EUR/USD

Right now RSI is overbought..
forget that word "overbought" the Market is never overbought or oversold. It can move hundreads of pips in hours, when there is an need to do that or any reason for that...

gl
  • #549,131
  • Oct 11, 2011 10:16am Oct 11, 2011 10:16am
Quoting attila
Trying a long here.
closed for fifty some pips.
  • #549,132
  • Oct 11, 2011 10:27am Oct 11, 2011 10:27am
Short from 1.3640. TP 1.3615 and pending order long 1.3615 TP 1.3640.

Let's see
  • #549,133
  • Oct 11, 2011 10:28am Oct 11, 2011 10:28am
I'm looking @ the 4H chart and I still can't find any valid reason to start shorting now. Better to be patient.
  • #549,134
  • Oct 11, 2011 10:28am Oct 11, 2011 10:28am
Quoting fxkiller
forget that word "overbought" the Market is never overbought or oversold. It can move hundreads of pips in hours, when there is an need to do that or any reason for that...

gl
As an intraday trader like myself, determining overbought or oversold is very important. It shows the further momentum of a move where the correction maybe. As a scalper, the terms oversold or overbought would not matter since scalper uses lower time frame to trade. The market is always unpredictable, but a trade needs to look at price actions and indicators to predict the next move.
  • #549,135
  • Oct 11, 2011 10:31am Oct 11, 2011 10:31am
Till now there's no good entry in this market today! usually there's a clear direction to go with.... but these days it looks like we enter the market for scalping only! I hate that! still waiting for 3700 to short... let's see...
  • #549,136
  • Oct 11, 2011 10:32am Oct 11, 2011 10:32am
a thumb down is expected during Solvak's vote. so buyers should put a strict SL to their trades bcz buyer's stop loss hunt will begin soon after solvak's vote..!!
  • #549,137
  • Oct 11, 2011 10:33am Oct 11, 2011 10:33am
Quoting tuantran02
As an intraday trader like myself, determining overbought or oversold is very important. It shows the further momentum of a move where the correction maybe. As a scalper, the terms oversold or overbought would not matter since scalper uses lower time frame to trade. The market is always unpredictable, but a trade needs to look at price actions and indicators to predict the next move.

Well, the market can be ob/os and remain in that territory for days when there is a strong move. Indicators follow PA and not the other way around. As they say "the market can remain illogical longer than you can remain solvent..."

Btw. the market isn't ob yet in 1 hr with 14 RSI.

Good luck !
  • #549,138
  • Oct 11, 2011 10:37am Oct 11, 2011 10:37am
Quoting eliasahmar
Till now there's no good entry in this market today! usually there's a clear direction to go with.... but these days it looks like we enter the market for scalping only! I hate that! still waiting for 3700 to short... let's see...
I agree with that strategy before going short. No real reason to do it now. Large time frame pivots are like a magnet, but in case of today, it will take time.
  • #549,139
  • Oct 11, 2011 10:44am Oct 11, 2011 10:44am
Quoting eliasahmar
Till now there's no good entry in this market today! usually there's a clear direction to go with.... but these days it looks like we enter the market for scalping only! I hate that! still waiting for 3700 to short... let's see...
better to wait then to lose money :-) i think it will get back to 3700; maybe even 3800???

if i see 3700 i will short half and hold the rest till 3800.
  • #549,140
  • Oct 11, 2011 10:51am Oct 11, 2011 10:51am
banked 75 pips from entry for half position. Final tp is 1.3705
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