EurAnalysis | Page 1431 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

EurAnalysis Kindergarten 24 replies

Attachments: EurAnalysis
Exit Attachments

EurAnalysis

  • #28,601
  • May 2, 2012 6:47am May 2, 2012 6:47am
Thank you for the welcome. I definitely enjoy this more, I can't keep up with the other threads. Plus I really enjoy your charts.
  • #28,602
  • May 2, 2012 6:50am May 2, 2012 6:50am
On how equity traders (that was me) suck at Forex (that's me also!)

Enjoy the read...

http://roguetraderette.com/2012/05/0...suck-at-forex/
I observe your reality but live my own.
  • #28,603
  • May 2, 2012 6:53am May 2, 2012 6:53am
Quoting Cgb
On how equity traders (that was me) suck at Forex (that's me also!)

Enjoy the read...

http://roguetraderette.com/2012/05/0...suck-at-forex/
hehehe.. not for long bro. You're getting it
By the way. I think the ADP number will do well today and we'll see 3080/90 (3120 at least)

ADD: Look at the DX on Daily chart. Still has a way to go to hit falling trend line

Attached Image (click to enlarge)
Click to Enlarge Name: dx-d1.gif Size: 24 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #28,604
  • May 2, 2012 6:54am May 2, 2012 6:54am
short again here although i should probably wait for more of a pullback. just scalping anyway because im bored, 0.1% gains and losses at most lol. i should have went short at that last peak near the higher end of the channel though. maybe we are going to 1.31 which is 61.8 fib retrace and just under the 100 dma

remember im new to trading forex (6 months or so and im up 30%) any tips you have for me are appreciated
Attached Image (click to enlarge)
Click to Enlarge Name: graph7.jpg Size: 280 KB
  • #28,605
  • May 2, 2012 6:58am May 2, 2012 6:58am
Quoting iPipSnatcher
short again here although i should probably wait for more of a pullback. just scalping anyway because im bored, 0.1% gains and losses at most lol. i should have went short at that last peak near the higher end of the channel though. maybe we are going to 1.31 which is 61.8 fib retrace and just under the 100 dma
Well it's really not that risky as long as you are not over-leveraged. Even if price goes up from here, at some point price has a date with the 1.30 area.
Those who say it cannot be done should not interrupt those who are doing it
  • #28,606
  • May 2, 2012 7:01am May 2, 2012 7:01am
Yeah I don't think there is anyway it can get about 1.32. Plus I caught the move down today.

and so far so good on the short

edit: out for +6 until this breaks
  • #28,607
  • May 2, 2012 7:02am May 2, 2012 7:02am
Quoting PipTrapper
hehehe.. not for long bro. You're getting it
Here's the tag line of one of my mentors when I started with equities... Kept it and I should make it my tag line here

"There is a theory that if you try hard enough at something, you will become a professional. I have almost lost all my money, so I must be almost a PRO!! "
I observe your reality but live my own.
  • #28,608
  • May 2, 2012 7:07am May 2, 2012 7:07am
Quoting PipTrapper
ADD: Look at the DX on Daily chart. Still has a way to go to hit falling trend line

Attachment
Hmm, I have draw the bottom trend line slightly different than you. I've shown a break of the trend line a few days ago and we are re-testing the bottom trend line. 79.500 would have to hold to continue the down trend now. A close above that on the daily would potentially see 80.400 as top before major reversal.
Attached Image (click to enlarge)
Click to Enlarge Name: USDX_May02.gif Size: 114 KB
I observe your reality but live my own.
  • #28,609
  • May 2, 2012 7:10am May 2, 2012 7:10am
Quoting PipTrapper
hehehe.. not for long bro. You're getting it
By the way. I think the ADP number will do well today and we'll see 3080/90 (3120 at least)

ADD: Look at the DX on Daily chart. Still has a way to go to hit falling trend line

Attachment
Thanks for the great chart. I don't know how to pull up DXY on my MT4.. lol
  • #28,610
  • May 2, 2012 7:13am May 2, 2012 7:13am
Quoting Cgb
Hmm, I have draw the bottom trend line slightly different than you. I've shown a break of the trend line a few days ago and we are re-testing the bottom trend line. 79.500 would have to hold to continue the down trend now. A close above that on the daily would potentially see 80.400 as top before major reversal.
Dont come to ruin our fun
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #28,611
  • May 2, 2012 7:13am May 2, 2012 7:13am
Quoting Cgb
Hmm, I have draw the bottom trend line slightly different than you. I've shown a break of the trend line a few days ago and we are re-testing the bottom trend line. 79.500 would have to hold to continue the down trend now. A close above that on the daily would potentially see 80.400 as top before major reversal.
trend lines are not an exact science since different traders draw them in different ways. There are no set rules. It all boils down to which drawing methods are used the most. My way seems to be a confirmed way siunce price has in fact bounced off it after a fakey breaky spike through it... just like the fakey breaky spike above the rising wedge resistance on the E/U
Those who say it cannot be done should not interrupt those who are doing it
  • #28,612
  • May 2, 2012 7:16am May 2, 2012 7:16am
Quoting Luis Carlos
Dont come to ruin our fun


Of course I'm not saying it will do that!
I observe your reality but live my own.
  • #28,613
  • May 2, 2012 7:17am May 2, 2012 7:17am
Quoting PipTrapper
trend lines are not an exact science since different traders draw them in different ways. There are no set rules. It all boils down to which drawing methods are used the most. My way seems to be a confirmed way siunce price has in fact bounced off it after a fakey breaky spike through it... just like the fakey breaky spike above the rising wedge resistance on the E/U
Can you post a longer time frame so I can see you bottom trend better?

TIA.
I observe your reality but live my own.
  • #28,614
  • May 2, 2012 7:23am May 2, 2012 7:23am
How they say? Talking about dollar. If there are some bad news in a "bull" market and it doesnt get down. So we are in a bull market... Something like that I got GJ short 30 pips until now
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #28,615
  • May 2, 2012 7:48am May 2, 2012 7:48am
Not quite sure I get it but it is a risk on/risk off scenario. Bad US figures -> Risk off -> Money flows to T-Bonds -> Dollar goes up.

Quoting Luis Carlos
How they say? Talking about dollar. If there are some bad news in a "bull" market and it doesnt get down. So we are in a bull market... Something like that I got GJ short 30 pips until now
  • #28,616
  • May 2, 2012 8:13am May 2, 2012 8:13am
Quoting TheSwede
Not quite sure I get it but it is a risk on/risk off scenario. Bad US figures -> Risk off -> Money flows to T-Bonds -> Dollar goes up.
Correct but it is not that simple. There are many factors at play other than if it is risk-off or risk-on
There is also the QE3 factor.

So:

if US econ data is bad enough that the Fed will ease more, that is USD bearish
If the US econ data is lower than expected but not bad enough for the Fed to ease, that is USD bullish.

Today I think it is right on that line. NY opening bell will tell us what the market at large thinks.
Those who say it cannot be done should not interrupt those who are doing it
  • #28,617
  • May 2, 2012 8:16am May 2, 2012 8:16am
Quoting Cgb
Can you post a longer time frame so I can see you bottom trend better?

TIA.
Here you go...

I exposed the contact points of the channels

Attached Image (click to enlarge)
Click to Enlarge Name: dx-d1.gif Size: 29 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #28,618
  • May 2, 2012 8:21am May 2, 2012 8:21am
Quoting PipTrapper
Correct but it is not that simple. There are many factors at play other than if it is risk-off or risk-on
There is also the QE3 factor.

So:

if US econ data is bad enough that the Fed will ease more, that is USD bearish
If the US econ data is lower than expected but not bad enough for the Fed to ease, that is USD bullish.

Today I think it is right on that line. NY opening bell will tell us what the market at large thinks.
...and in all that one must put US-EUR who's crapier data contest results too..
69
  • #28,619
  • May 2, 2012 8:23am May 2, 2012 8:23am
Quoting PipTrapper
Here you go...

I exposed the contact points of the channels

Attachment

There is also a fib there and a powerful ema, not only the trendline:

http://www.forexfactory.com/showthre...19#post5620919
charting the euro...
  • #28,620
  • May 2, 2012 8:27am May 2, 2012 8:27am
Quoting Likerty
...and in all that one must put US-EUR who's crapier data contest results too..
Exactly. Thank you
Those who say it cannot be done should not interrupt those who are doing it
44 traders viewing now