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EURUSD

  • #565,781
  • Nov 24, 2011 1:31pm Nov 24, 2011 1:31pm
Quoting amir_mehdi
what a boaring market
It's hollyday!
  • #565,782
  • Nov 24, 2011 2:10pm Nov 24, 2011 2:10pm
Quoting hlas
Unlike other financial markets like the New York Stock Exchange, the forex spot market has neither a physical location nor a central exchange.
The forex market is considered an Over-the-Counter (OTC), or "Interbank", market due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.
This means that the spot forex market is spread all over the globe with no central location. They can take place anywhere,...
So then why do they call it NY Session, London Session etc and It opens the week at the Sydney session and closes the week with the NY Session? It seems that it could open or close at any time. If that's the case then why does it ever close?
  • #565,783
  • Nov 24, 2011 2:26pm Nov 24, 2011 2:26pm
for a dead market it moved just 10 pips...maybe somebody throwing some bux hoping it sticks
  • #565,784
  • Nov 24, 2011 2:34pm Nov 24, 2011 2:34pm
Quoting bfis108137
So then why do they call it NY Session, London Session etc and It opens the week at the Sydney session and closes the week with the NY Session? It seems that it could open or close at any time. If that's the case then why does it ever close?
It's a dayjob in NY, in London, in Sydney... that creates the sessions.
Traders come in, trade, close their books. Just like a normal job.

The interbank never sleeps, there are allways greedy bastards placing bids and offers even when your broker is closed...
  • #565,785
  • Nov 24, 2011 2:47pm Nov 24, 2011 2:47pm
why in my broker DAX30 don't close? he make motion's..
  • #565,786
  • Nov 24, 2011 2:50pm Nov 24, 2011 2:50pm
Quoting goshko147
why in my broker DAX30 don't close? he make motion's..
Because its have 8 minutes until being closed.
Bear the bull's consequence...
  • #565,787
  • Nov 24, 2011 3:06pm Nov 24, 2011 3:06pm
Price could fall to the area comprised between the 138.2% extension down from previous H1 swing low and the 161.8% extension on the correction swing (1.3240-1.3260) after bouncing back from the upper pitchfork TL.

Attached Image (click to enlarge)
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Then we could see a break of 1.3350 and a rally to the resistance area between 1.3410-1.3430, followed by a retest of the break and some consolidation in the 1.3320-1.3410 area.
  • #565,788
  • Nov 24, 2011 3:18pm Nov 24, 2011 3:18pm
This aint any prediction doblece, but if you were ECB or China, wouldnt you intervene while US has closed banks and CEOs are stuffing turkey? I certainly would. Remember Veteran Fryday.

I am waiting for bull during Asia.

I aint buying it ofc, I am totally bearish in long term. Just waiting for reload.

Edit: Btw, I aint saying your scenario wont play. Dexia + Merkel standing behind her statements play in your favour. I am just for short term 70% up now.

T
"I know one thing, that I know nothing." Sokrates
  • #565,789
  • Nov 24, 2011 3:31pm Nov 24, 2011 3:31pm
Quoting Bice
Because its have 8 minutes until being closed.
DAX30 open in 8:00 and close in 22:00 GMT but on the night he make motion's in my broker , why?
  • #565,790
  • Nov 24, 2011 3:35pm Nov 24, 2011 3:35pm
Quoting goshko147
DAX30 open in 8:00 and close in 22:00 GMT but on the night he make motion's in my broker , why?
I think this is a common behaviour. Most of the stuffs are moving quickly in some direction before closing.
Bear the bull's consequence...
  • #565,791
  • Nov 24, 2011 3:42pm Nov 24, 2011 3:42pm
Quoting happytrader
i am so dumb.. i shorted too early during the asian hours... and got stopped out on my sl numerous times! damn it.

now that i don't have any short entries and i see euro tumbling down like the world trade centre.... i feel like crap.
I salute to all those posting their losses here. Someitimes it might depressing to see that everyone tends to post their positive trades here all the time, though it don't mean that nobody loses. they just keep silent cause they're embarassed.

That's ok you couldn't know what happened. You got stopped out because you have discipline to follow your MM. Sometimes I fail at this, as I got a loss yesterday because I traded without a sl.

We'll get it back. Now it's time to review errors and get drinks. No bad emotions, just adjustments and notes to yourself what not to do next time.

Cheers.
  • #565,792
  • Nov 24, 2011 3:44pm Nov 24, 2011 3:44pm
Quoting Tom_D_Trader
This aint any prediction doblece, but if you were ECB or China, wouldnt you intervene while US has closed banks and CEOs are stuffing turkey? I certainly would. Remember Veteran Fryday.

I am waiting for bull during Asia.

I aint buying it ofc, I am totally bearish in long term. Just waiting for reload.

T
Indeed, and that's what I am expecting as well for the same reasons... (has happened so many times in the past). However we might see a quick "fake" break down before the rally, if only just below 1.3300, coinciding with a touch of the the lower trend line and/or 138.2 extension of the correction (1.3285/80).

My bearish views for this pair are a little hampered because of the daily falling wedge which seems to be coming to its completion, which if broken and followed up would bring us back to the previous highs at around 1.4250.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_daily_wedge_nov2011.gif Size: 27 KB


But I mostly trade very short term so I'll probably reload shorts (with caution) if the price rallies to 1.3420ish... although maybe I should wait for 1.3490/1.3570 (resistance level at 9/12 and 10/11 lows, or upper TL of the actual small daily descending channel)
  • #565,793
  • Nov 24, 2011 3:55pm Nov 24, 2011 3:55pm
Quoting Bice
I think this is a common behaviour. Most of the stuffs are moving quickly in some direction before closing.
no ,dax30 make waves after oficial close time , but in my broker make moves and wave's.. why why why??
  • #565,794
  • Nov 24, 2011 4:10pm Nov 24, 2011 4:10pm
Shoot, I just woke up and collected nice gain in EG. That's the way I like it.
Just 25 pips but with high leverage. It adds on for sure.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #565,795
  • Nov 24, 2011 4:39pm Nov 24, 2011 4:39pm
Quoting doblece
...
But I mostly trade very short term so I'll probably reload shorts (with caution) if the price rallies to 1.3420ish... although maybe I should wait for 1.3490/1.3570 ...
My shorts are waiting at 3610. There is a battalion of em in there. And another battalion at 3666.

But we may not get there any time soon, so I may be shorting since 3447 - 57, at levels 3495, 3524, 3538 if bulls show any sign of weakness. And they possibly will.

Anyway GL,

T
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"I know one thing, that I know nothing." Sokrates
  • #565,796
  • Nov 24, 2011 4:45pm Nov 24, 2011 4:45pm
Quoting Cerber.bf2
I salute to all those posting their losses here. Someitimes it might depressing to see that everyone tends to post their positive trades here all the time, though it don't mean that nobody loses. they just keep silent cause they're embarassed.

That's ok you couldn't know what happened. You got stopped out because you have discipline to follow your MM. Sometimes I fail at this, as I got a loss yesterday because I traded without a sl.

We'll get it back. Now it's time to review errors and get drinks. No bad emotions, just adjustments and notes...
now I am more convinced than ever before that a sl is a must for every retail trader unless he is watching the moves closely. now i always try to set tight SL and move to BE as soon as i get an opportunity, however that increases the chance of being stopped out. yesterday i was stopped out twice at BE when decided let the profit run, and 2 SL hit with overall 20 pips loss... well that is market, I am sure with just one good trade i can cover a few lost trades. most important thing is trade management, and not to lose more than you can afford..
As Above, So Below
  • #565,797
  • Nov 24, 2011 4:45pm Nov 24, 2011 4:45pm
Quoting Tom_D_Trader
My shorts are waiting at 3610. There is a battalion of em in there. And another battalion at 3666.

But we may not get there any time soon, so I may be shorting since 3447 - 57, at levels 3495, 3524, 3538 if bulls show any sign of weakness. And they possibly will.

Anyway GL,

T
Nice levels.
GL to you too!
Oh and Happy Thanksgiving!
  • #565,798
  • Nov 24, 2011 4:47pm Nov 24, 2011 4:47pm
Quoting doblece
My bearish views for this pair are a little hampered because of the daily falling wedge which seems to be coming to its completion, which if broken and followed up would bring us back to the previous highs at around 1.4250.
Btw if this happens, I will possibly get a heart attack . I hold shorts from 368 - 384 zone. But I see doubletop as extremely unlikely. Total maximum till the end of the year is ,39 for me. I see possibilities like 10% 1,39; 30% 1,366 - 1,368 zone; 60% 1,356 - 1,361. Well, maybe Angie pulls rabit out of hat and they will start printing tomorrow. Anyway, going to sleep.

T
"I know one thing, that I know nothing." Sokrates
  • #565,799
  • Nov 24, 2011 4:49pm Nov 24, 2011 4:49pm
Quoting doblece
Nice levels.
GL to you too!
Oh and Happy Thanksgiving!
No Thanksgiving in Czech , I need to go to work in seven hours. But thanks anyway.

GL and cya,

T
"I know one thing, that I know nothing." Sokrates
  • #565,800
  • Nov 24, 2011 5:01pm Nov 24, 2011 5:01pm
falling wedge on daily, doji today - technicals indicate that a bullish reversal might not be far
Attached Image (click to enlarge)
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