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  • #586,841
  • Jan 22, 2012 3:34pm Jan 22, 2012 3:34pm
Quoting fxcatty
LOL. I'm on the same page as you are.
that is what 20 year old mistresses are for lol

edit: I was alittle behind on the thread i suppose
  • #586,842
  • Jan 22, 2012 4:11pm Jan 22, 2012 4:11pm
Quoting KillerWhale
Currency Analyst is the best job that's on the market.

The only job were you can be a 100% wrong today and still claim tomorrow that you are an expert.
  • #586,843
  • Jan 22, 2012 4:12pm Jan 22, 2012 4:12pm
Quoting jayjb
heh.. up 100pips for holding over the weekend

Hey
What position were you at on Friday?
Can you please give me some advise, I am totally new to this and have lost enough.
Thanks!
  • #586,844
  • Jan 22, 2012 4:16pm Jan 22, 2012 4:16pm
Time to buy!

This bull just got cheaper!
  • #586,845
  • Jan 22, 2012 4:18pm Jan 22, 2012 4:18pm
Quoting KillerWhale
I did open a little gamble trade.
2 mini lots short GBP/USD, spread 10 pips, and target 1.5510

Just to top of the week.
Closed 1.5530, for 30 pips. And the week hasn't begun yet.
470 pips to go this week.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #586,846
  • Jan 22, 2012 4:21pm Jan 22, 2012 4:21pm
Quoting todstars2
Time to buy!

This bull just got cheaper!
agreed.

too much bias to short side.
  • #586,847
  • Jan 22, 2012 4:28pm Jan 22, 2012 4:28pm
Quoting RideTheWave
agreed.

too much bias to short side.
I fail to understand how you guys see a 50 pip gap down when the market opens and you take it as a signal to buy... cause for me it's a very strong signal to sell. Be really careful with those long positions, tight SL all the way!
  • #586,848
  • Jan 22, 2012 4:32pm Jan 22, 2012 4:32pm
Quoting StreetGuru
I fail to understand how you guys see a 50 pip gap down when the market opens and you take it as a signal to buy... cause for me it's a very strong signal to sell. Be really careful with those long positions, tight SL all the way!
Take a look at the price we are hovering at.

The primary trend is up.

The question is how far we have to fall before we resume the trend upwards.

Every point down makes the EUR cheaper when viewed from this perspective.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdweekly.gif Size: 14 KB
  • #586,849
  • Jan 22, 2012 4:33pm Jan 22, 2012 4:33pm
I think they are trying to close the gap.
  • #586,850
  • Jan 22, 2012 4:43pm Jan 22, 2012 4:43pm
Quoting todstars2
Take a look at the price we are hovering at.

The primary trend is up.

The question is how far we have to fall before we resume the trend upwards.

Every point down makes the EUR cheaper when viewed from this perspective.
I guess it is indeed a question of perspective and fair enough, i respect that. However if we look at the daily chart I'm seeing the EUR on the top of the downward channel, coupled with very bad news from Greece and a strong possibility that many of the holders of greek debt will probably block the deal in order to recover their investment from insurance. No good news on the horizon this week for the EUR.
  • #586,851
  • Jan 22, 2012 4:44pm Jan 22, 2012 4:44pm
Quoting StreetGuru
I fail to understand how you guys see a 50 pip gap down when the market opens and you take it as a signal to buy... cause for me it's a very strong signal to sell. Be really careful with those long positions, tight SL all the way!
If there was only 2 times I could trade, it would be NFP and every market open. It doesn't matter if its a gap or a heavy volume news report, as long as you have rules that give you an edge, and follow them, you should be good.

for instance, the e/u doesnt normally drop so much before the open. 20-50 pips is a normal open gap. 80!?!? haha very much over extended. either play it long, or wait for it to hit resistance and then go short. either way there are trades to be made.
  • #586,852
  • Jan 22, 2012 4:46pm Jan 22, 2012 4:46pm
Quoting StreetGuru
I fail to understand how you guys see a 50 pip gap down when the market opens and you take it as a signal to buy... cause for me it's a very strong signal to sell. Be really careful with those long positions, tight SL all the way!
For me too, I see further downside for the following:

1) The meeting in Greece didn't come up with anything concrete
2) The AUDJPY looks like its double topped at 8075, carry trade coming off = AUDJPY Moving Lower = Risk Off = Assets Fall The US Dollar rallies. Ie EUR will Fall
3) The 4h 2h and 1h candlesticks are all under the 10MA

I'm short at 1.2885 with a SL at 1.2995 (really tight) with a TP at 1.2786.

As of writing this post, it's moved 8 points in the right direction (but obviously nothing to do with me )

What say you Guys ?
  • #586,853
  • Jan 22, 2012 4:47pm Jan 22, 2012 4:47pm
More likely the EUR is going down.
Good luck to the bulls
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd daily.gif Size: 26 KB
  • #586,854
  • Jan 22, 2012 4:49pm Jan 22, 2012 4:49pm
Attached Image (click to enlarge)
Click to Enlarge Name: charts 16.jpg Size: 100 KB


moved my stop to +2, lets get back to where the market opened!
  • #586,855
  • Jan 22, 2012 4:53pm Jan 22, 2012 4:53pm
Climbing the "wall of worry"
  • #586,856
  • Jan 22, 2012 4:57pm Jan 22, 2012 4:57pm
looks like criminal market makers are trying to prop this up (they are on the wrong side?) the ask keeps widening but bid isn't budging. Some actual support around 2876.

Also AU is falling but EU doesn't budge, when AU rises a bit EU goes flying up, maybe market makers can push it until actual volume comes in at LO.
  • #586,857
  • Jan 22, 2012 4:57pm Jan 22, 2012 4:57pm
Quoting PokerPlayer
For me too, I see further downside for the following:

1) The meeting in Greece didn't come up with anything concrete
2) The AUDJPY looks like its double topped at 8075, carry trade coming off = AUDJPY Moving Lower = Risk Off = Assets Fall The US Dollar rallies. Ie EUR will Fall
3) The 4h 2h and 1h candlesticks are all under the 10MA
[color=black][FONT=Times...
It's Black Friday at Walmart.

Don't confuse the price of the "stock" with the intrinsic value of the "company".

The USD is in trouble because we continue to print money
  • #586,858
  • Jan 22, 2012 4:59pm Jan 22, 2012 4:59pm
Quoting MidasFX
If there was only 2 times I could trade, it would be NFP and every market open. It doesn't matter if its a gap or a heavy volume news report, as long as you have rules that give you an edge, and follow them, you should be good.

for instance, the e/u doesnt normally drop so much before the open. 20-50 pips is a normal open gap. 80!?!? haha very much over extended. either play it long, or wait for it to hit resistance and then go short. either way there are trades to be made.
Yes, but there is a reason for the market to open so down, this are not normal trade conditions. Fundamentals are ruling the market right now and the gap down is a strong sign investors are fleeing the EUR.

The rally in the EUR last week, although a needed correction, had a lot to do with hopes the greeks would manage to make a deal and avoid default. Both the head of the IIF and Greek officials spent most week saying a deal was imminent and would come before the weekend. On friday when investors start seeing that a deal would not come the EUR came down, and i can only imagine what will happen when london opens in the morning.

I see a strong resistance at 1.2885, that's where i went short with a tight SL. Let's see where this is heading tomorrow.

Good trades everyone
  • #586,859
  • Jan 22, 2012 4:59pm Jan 22, 2012 4:59pm
Quoting todstars2
Climbing the "wall of worry"
If you are worrying , you might be using too big of a lot size. I am well prepared for the worst case scenario .
  • #586,860
  • Jan 22, 2012 5:01pm Jan 22, 2012 5:01pm
Quoting StreetGuru
Yes, but there is a reason for the market to open so down, this are not normal trade conditions. Fundamentals are ruling the market right now and the gap down is a strong sign investors are fleeing the EUR.

The rally in the EUR last week, although a needed correction, had a lot to do with hopes the greeks would manage to make a deal and avoid default. Both the head of the IIF and Greek officials spent most week saying a deal was imminent and would come before the weekend. On friday when investors start seeing that a deal would not come the EUR...
People lie to meet their own designs, prices dont.

We will have to agree to disagree until the market settles it for us. :-)
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