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  • #644,161
  • May 17, 2012 3:09am May 17, 2012 3:09am
Quoting tomspin
You both should spend some time in the library, then come back to trading.
Yes what a nice advice keep him underwater with HOPE - even better expose him for a further loss.

Close your position now, accept your loss and move on.
You can't learn these things in the library and I think putting stop is better way to manage this position then just closing.

First thing he will do after a close is opening a new long when he sees a green candle.
"Study the past if you would define the future." Confucius
  • #644,162
  • May 17, 2012 3:10am May 17, 2012 3:10am
NEWS:The three banks coincide again on how they recommend to trade the pair. What is striking about today's forecasts is how the banks shifted their predictions from a EUR/USD around 1.3000 – 1.3200 to the 1.2700 – 1.2550 range. Since early May the cross has lost over 5 cents. The break up of talks in Greece has thrown the eurozone in a new round of uncertainty.

The Copenhagen based bank, Danske Bank, says in its daily technical report to “short at 1.2700 for a 1.2550 objective. Stop 1.2780", while Commerzbank suggests to stay “short 1.3035, partially covered 1.2700. For the remainder lower the stop from 1.2955 to 1.2825, looking to cover the remainder 1.2685”. UBS' Chris Walker, believes the cross will be at 1.25 in the next 3 months and at 1.15 in the next twelve months.

The pair is currently trading at 1.2724, gaining 0.06%
Dont Giveup If You Lose.. Try To Learn From Your Fault. U will Sucess!!
  • #644,163
  • May 17, 2012 3:11am May 17, 2012 3:11am
Spain auctions at the bottom of the hour.
Mohan
  • #644,164
  • May 17, 2012 3:15am May 17, 2012 3:15am
Quoting cat
Mr.4season, I see you are new to this game. Be honest with us, are you seriously trading a live account, or are you on a demo?
thank you for u all opinion guys, just in case my Margin level just left 369% buy g/u at 6020. can my account survive if i decide for hold on until g/u turn up at less until 6000 ( maybe i'll cut at 6000 ) and switch for long sell in there later. wat do you think ?
  • #644,165
  • May 17, 2012 3:17am May 17, 2012 3:17am
Quoting Mr.4season
thank you for u all opinion guys, just in case my Margin level just left 369% buy g/u at 6020. can my account survive if i decide for hold on until g/u turn up at less until 6000 ( maybe i'll cut at 6000 ) and switch for long sell in there later. wat do you think ?
follow your trend dude..
Dont Giveup If You Lose.. Try To Learn From Your Fault. U will Sucess!!
  • #644,166
  • May 17, 2012 3:17am May 17, 2012 3:17am
Quoting kuroro001
Daily chart is dangerous for bears. You may get some pips on the way down, but bulls will kick in soon, can't wait for it
for real...?
  • #644,167
  • May 17, 2012 3:18am May 17, 2012 3:18am
Quoting Mr.4season
thank you for u all opinion guys, just in case my Margin level just left 369% buy g/u at 6020. can my account survive if i decide for hold on until g/u turn up at less until 6000 ( maybe i'll cut at 6000 ) and switch for long sell in there later. wat do you think ?
trade what you see, not what you think..
  • #644,168
  • May 17, 2012 3:18am May 17, 2012 3:18am
Morning all

watching paint dry is more exciting
  • #644,169
  • May 17, 2012 3:19am May 17, 2012 3:19am
The single currency is trading in the proximities of the 1.2720 region after the Spanish economic activity has posted its second consecutive contraction. In fact, the GDP has dropped 0.3% QoQ in April and 0.4% YoY.

J.Kruger, Technical Currency Strategist at DailyFX, remarks that the cross remains under heavy pressure, pointing to Jan. lows at 1.2625. However, he adds, “…short-term technical studies are well oversold and are showing a need for some form of corrective bounce…”. If that rebound materializes, it should be well capped by 1.3000

At the moment the cross is posting meager gains at 1.2727 or +0.04, facing the next resistance at 1.2759 (intraday high) ahead of 1.2800 then 1.2822 (Lower Bollinger) and 1.2870 (high May 15).
On the downside, a breach of 1.2682 (trend low May 16) would bring 1.2648 (low Jan.17) then 1.2624 (Low Jan.13) and 1.2600
Dont Giveup If You Lose.. Try To Learn From Your Fault. U will Sucess!!
  • #644,170
  • May 17, 2012 3:19am May 17, 2012 3:19am
Quoting Mr.4season
thank you for u all opinion guys, just in case my Margin level just left 369% buy g/u at 6020. can my account survive if i decide for hold on until g/u turn up at less until 6000 ( maybe i'll cut at 6000 ) and switch for long sell in there later. wat do you think ?

Putting up all your money for one position is the worst you can do. If you have ideas like this then I have to agree with tomspin. Close now and leave the market for a few days
"Study the past if you would define the future." Confucius
  • #644,171
  • May 17, 2012 3:20am May 17, 2012 3:20am
Quoting Mr.4season
thank you for u all opinion guys, just in case my Margin level just left 369% buy g/u at 6020. can my account survive if i decide for hold on until g/u turn up at less until 6000 ( maybe i'll cut at 6000 ) and switch for long sell in there later. wat do you think ?
you only wait for 20 return, I think if you wait for it it better to do it just now
  • #644,172
  • May 17, 2012 3:21am May 17, 2012 3:21am
Quoting jajano
for real...?
wait spain austion result might show some direction ,
Mohan
  • #644,173
  • May 17, 2012 3:24am May 17, 2012 3:24am
Quoting Mr.4season
geez, i had buy g/u at 6020, wat should i do ? just hold on or hedge ? any idea guys
The nearest "real" support I can see now is 1.577~1.581, I don't consider Fibo61.8 at 1.589 as a decent support since the daily looks very bearish (broken trendline). Decision depends on you, I don't know how you manage your money.
Good luck!
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  • #644,174
  • May 17, 2012 3:27am May 17, 2012 3:27am
Quoting Mr.4season
thank you for u all opinion guys, just in case my Margin level just left 369% buy g/u at 6020. can my account survive if i decide for hold on until g/u turn up at less until 6000 ( maybe i'll cut at 6000 ) and switch for long sell in there later. wat do you think ?
There is a potential double bottom forming. Therefore, place a stop just below the low, say at 15,882, and hope she rises. If you get lucky, I'd hold until 15,960, the 15m 200ema. I can't see it going much higher. There is still more downside to this pair. This way, you give yourself a chance without losing more than you are already, well, not much more.
  • #644,175
  • May 17, 2012 3:37am May 17, 2012 3:37am
Quoting cat
There is a potential double bottom forming. Therefore, place a stop just below the low, say at 15,882, and hope she rises. If you get lucky, I'd hold until 15,960, the 15m 200ema. I can't see it going much higher. There is still more downside to this pair. This way, you give yourself a chance without losing more than you are already, well, not much more.

thats the only wise advise and some effort of help i seen here otherwise there are people who just tell close ur position and do trading later days come on even a child can do that.
"Forget the times of your distress, but never forget what they taught you"
  • #644,176
  • May 17, 2012 3:40am May 17, 2012 3:40am
do u guys think that eur/usd will drop any further???im having sell position at 1.2719 and 1.2724.......
Super newbie trader
  • #644,177
  • May 17, 2012 3:44am May 17, 2012 3:44am
Quoting hundal
thats the only wise advise and some effort of help i seen here otherwise there are people who just tell close ur position and do trading later days come on even a child can do that.
ok. lets look reasons for EUR to go up?
I dont see any for that week. do you?
  • #644,178
  • May 17, 2012 3:49am May 17, 2012 3:49am
I gave a guy a sound advise. He is clearly not ready to trade, he doesn't understand basics like S&R (entered long under 50) MM and you guys telling him to HOPE & PRAY (!!!!!) that cable which is in his third bearish week in a row will come back somehow 120 pips through big psychological 1,6000 level
Wake up!
swing it!
  • #644,179
  • May 17, 2012 3:54am May 17, 2012 3:54am
Quoting Trader88q
ok. lets look reasons for EUR to go up?
I dont see any for that week. do you?
Oversold market, yesterdays doji, rising intraday lows on technical side. And yes now still bearish and have to wait for a break out at 1.2750.
"Study the past if you would define the future." Confucius
  • #644,180
  • May 17, 2012 3:58am May 17, 2012 3:58am
Quoting littlemole
Oversold market, yesterdays doji, rising intraday lows on technical side. And yes now still bearish and have to wait for a break out at 1.2750.
each trade have 1 buyer ad 1 seller , how it could be over sold ?
Mohan
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