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EURUSD

  • #592,201
  • Feb 6, 2012 11:30am Feb 6, 2012 11:30am
closed a small long for only 20 pips but still happy about that, at this rate by the end of the week with a bit of luck I'll have some profit
Trade what you see not what you hope
  • #592,202
  • Feb 6, 2012 11:33am Feb 6, 2012 11:33am
waiting around a pc screen can be weary-some but try not to trade based on feeling.... Don't short into a strong rally especially without confirmation, unless you're trying to scalp 5-15pips....

looking for short opportunity is between 150-200.... starting the 5th wave

On the other-hand PA over the past 6-7 day could be a falling wedge or flag pattern which would eventually break resistance at 3200.(good news from Greece could spark this scenario)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD1HR3200.GIF Size: 80 KB
Click to Enlarge Name: EURUSDDAILY5THWAVE.GIF Size: 77 KB
  • #592,203
  • Feb 6, 2012 11:38am Feb 6, 2012 11:38am
Papademos meeting with Troika in 30minutes watch out for headlines after!
Trade what you see not what you hope
  • #592,204
  • Feb 6, 2012 11:39am Feb 6, 2012 11:39am
Long since 1.3057. SL moved to 1.3117, TP to be confirmed, hope it gets to 1.3150-60 and this will be one of my best trading days in a long time, good start to the week
  • #592,205
  • Feb 6, 2012 11:42am Feb 6, 2012 11:42am
EU long entry is in profits now
up 60 pips
BE at 40 pips and TP still 15-20 pips (to close when gap closed)
good start to the week. already reached my 40 pip daily TP so anything above will be bonus and help compensate for any adverse action during the week
  • #592,206
  • Feb 6, 2012 12:21pm Feb 6, 2012 12:21pm
Quoting onlyfortrade
As my thinking eur can't break 1.3136 so took a short at 1.3135 , anyone agree with me here?
I'm short @ 3130, TP 3035 tight stop @ 3147
  • #592,207
  • Feb 6, 2012 12:48pm Feb 6, 2012 12:48pm
Looks like the bounce from the low is to form 15 min retracement.
Still the fibs looks like still have to go down atleast 1.3000 or 1.2980 area to complete 60 min ABC retracement from the high.

Once the price moves lower than 1.3100, will move my SL to BE
Also will keep an eye on 1.3060 area, if this uptrend is still intact, it should give some bullish signs here, then i will close my shorts at this area....

Good luck everybody
PPP - Patience Pays PIPS
  • #592,208
  • Feb 6, 2012 12:49pm Feb 6, 2012 12:49pm
Quoting GDR3k
I'm short @ 3130, TP 3035 tight stop @ 3147

I am with you on this one - I have a short entry at 1.31353 and am targeting today's low at 1.30279 with a stop if we break above 1.32000. In this choppy market I find that tight stops are not working as they get hunted. This move to the long side is really a massive stop hunt for shorts and I am reluctant to become another victim. From a fundamental point of view there is little justification for this level of price action. I know Dr B has promised low interest rates for the next couple of years with possible QE3. However he is not offering default and in his recent testimony it was anything but default.
  • #592,209
  • Feb 6, 2012 12:56pm Feb 6, 2012 12:56pm
Quoting ChristopherM
I am with you on this one - I have a short entry at 1.31353 and am targeting today's low at 1.30279 with a stop if we break above 1.32000. In this choppy market I find that tight stops are not working as they get hunted. This move to the long side is really a massive stop hunt for shorts and I am reluctant to become another victim. From a fundamental point of view there is little justification for this level of price action. I know Dr B has promised low interest rates for the next couple of years with possible QE3. However he is not offering default...
I've just closed for 10+ pips @ 3120 and thats me for the day, better than a kick in the balls, the price has stalled on the smaller timeframes and going off todays PA, it will reverse quickly...would rather take the 10 pips than it reverse and stop me out at BE
  • #592,210
  • Feb 6, 2012 1:13pm Feb 6, 2012 1:13pm
Quoting GDR3k
I've just closed for 10+ pips @ 3120 and thats me for the day, better than a kick in the balls, the price has stalled on the smaller timeframes and going off todays PA, it will reverse quickly...would rather take the 10 pips than it reverse and stop me out at BE
Very sensible. No one every blew an account or went bankrupt closing with a profit. My intention is to leave this over night and check it from time to time when I check on my children. Tomorrow morning I have other commitments and my hope is that we may head south and hit target during later part of the European session. Who knows we may get there with a single whoosh if Greece tells the rest of Europe it is not going to pay €260 billion which is owed on bonds. Certainly I don't think the Greek people want to pay and would prefer to follow the Icelandic example. Greece has elections soon and the politicians seeking re-election might just listen to the Greek people who will be asked to vote for them. After all there was a Tweet from DJFX Trader suggesting that lawyers, bankers, and others are being consulted as to the implication of a default.

Below is the text:

djfxtraderDJ FX Trader

Companies, Banks, Law Firms Examining Greek Euro Exit - Greek EU Commissioner To Dow Jones
  • #592,211
  • Feb 6, 2012 2:06pm Feb 6, 2012 2:06pm
Fire Sale looks to be over in the EUR.
Attached Image (click to enlarge)
Click to Enlarge Name: eur daily.jpg Size: 71 KB
  • #592,212
  • Feb 6, 2012 2:36pm Feb 6, 2012 2:36pm
I tried a short at 1.3115, I'm staying short for the future^^
  • #592,213
  • Feb 6, 2012 2:47pm Feb 6, 2012 2:47pm
Quoting alxdlx
I tried a short at 1.3115, I'm staying short for the future^^
Right now any move above 1,3130 is a cheap short!
So i'm short as well until we see 1,3070
COT: The precious data ignored
  • #592,214
  • Feb 6, 2012 2:49pm Feb 6, 2012 2:49pm
Quoting GDR3k
...... it will reverse quickly.......
Well would you believe it
  • #592,215
  • Feb 6, 2012 2:51pm Feb 6, 2012 2:51pm
Can't this euro just die already? I am tired of all these promises that politicians will think of something.
  • #592,216
  • Feb 6, 2012 2:55pm Feb 6, 2012 2:55pm
it will stay here where it is betwen 3145 and 3100 till morning
  • #592,217
  • Feb 6, 2012 2:58pm Feb 6, 2012 2:58pm
Quoting kuroro001
Right now any move above 1,3130 is a cheap short!
So i'm short as well until we see 1,3070
I am too short. I donīt know how much is chance to deal between Greece and private creditors, but for me isnīt good still delay important decisions. I think so Greece didnīt agree with regulations and just obstruct. In Greece wiill be tomorrow big 24 hours strike and it all this will get worse.
  • #592,218
  • Feb 6, 2012 3:05pm Feb 6, 2012 3:05pm
if eur broke 1.32 resistance and retest it.. you can go long
  • #592,219
  • Feb 6, 2012 3:11pm Feb 6, 2012 3:11pm
Quoting forexripper
a little retracement from this exhaustion buying and then try to reach 1.3140 or so. I m still long 3079
Was not a bad idea as well ...



2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #592,220
  • Feb 6, 2012 3:14pm Feb 6, 2012 3:14pm
Quoting krwawnik
it will stay here where it is betwen 3145 and 3100 till morning
Yes ...

NY afternoon sessions without Europe they are boring ...



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2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
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