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  • #650,321
  • May 31, 2012 9:19pm May 31, 2012 9:19pm
Quoting Price
Still more supports broken over and over again.....

When these trends end, they often tend to end in dramatic fashion. With a huge selloff to breathtaking new lows and a quick recovery of a good portion of that days selloff.

Remember when Gold did that on its first crash to the upper 1500's ?? Having 50 and 100 dollar selloffs.... dramatic.

Euro could continue creeping to these new lows until it crashes, recovers, and causes everyone to finally get on board with the short program.

Then it will be over. It's amazing how these patterns repeat...
Same story.... still bearish.

Doesn't look like it's done yet, not even for the week.

Supports continue to break easily. 2008 low causes a small bounce ??

Obviously Bearish, and not yet time to think about building any "long term" longs.
  • #650,322
  • May 31, 2012 9:26pm May 31, 2012 9:26pm
Is it done falling? Or just taking a breather?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdd1444.jpg Size: 117 KB
Time turns trend. - W.D. Gann
  • #650,323
  • May 31, 2012 9:42pm May 31, 2012 9:42pm
Quoting ForExtraPips
Is it done falling? Or just taking a breather?

i guess its just a breather !!!!
“Don't cry because it's over, smile because it happened.”
  • #650,324
  • May 31, 2012 9:46pm May 31, 2012 9:46pm
Quoting mikeylp
There is nothing wrong with buy positions, it's all part of the trading rules, SL do their job, even if someone like me goes for a long, it doesn't mean anything because on smaller scale time frames like 1H or 8pips range I do the rest of the trades and there profitable.
We all in the unknown marketplace, so we use rules, patterns that repeat themselves, fibs with supports and resistances, so it gives us a clue what might happen but we don't know which way.
Some fill, guess, fundamental studies and some technical, what rules are good for if we...
how many pips you made long on eur/usd this week?
  • #650,325
  • May 31, 2012 9:49pm May 31, 2012 9:49pm
Saw this on ForexLive this morning, got a chuckle:

"Do not fade this trend friends. It is
much too strong to be trifled with.
Too late to jump on board, but dont
try and pick a bottom" -Jamie Coleman

I love this guy's impression of a Judas Goat; he does it often and he does it well.

He is saying, in effect: don't even THINK of going short, it's too late. On the other hand,
you could could go long and make a bundle, but DON'T TRY!

Of course, if you were itching to make a trade, your best trade would be to short on
maybe a 2-3 day timeframe, or to sell rallies for a quick turn, but don't even think of it!

He has to know that this kind of advice will push newbies into fading the trend on a
longer timeframe and they'll get creamed when the price continues to fall.

I often wonder who he really works for.
  • #650,326
  • May 31, 2012 9:50pm May 31, 2012 9:50pm
Anyone else using forex "volume" indicators (pip variation) for trading? Was a good trigger for the drop about 1.5hrs ago.
Looks like ramping again, maybe the end of this bounce?
  • #650,327
  • May 31, 2012 10:04pm May 31, 2012 10:04pm
Decent resistance area right now at just above 1.2350....
  • #650,328
  • May 31, 2012 10:08pm May 31, 2012 10:08pm
Quoting Price
Decent resistance area right now at just above 1.2350....
agree !!! and a bounce back expected off this area
“Don't cry because it's over, smile because it happened.”
  • #650,329
  • May 31, 2012 10:24pm May 31, 2012 10:24pm
Sell in May and go away. Buy in June then sell again.
  • #650,330
  • May 31, 2012 10:24pm May 31, 2012 10:24pm
I always look at what the USD/CHF is doing before making a trade on the E/U pair. I find it interesting that the usd/chf is stuck between a rock and a hard place on the weekly right now.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfw1.jpg Size: 151 KB
Time turns trend. - W.D. Gann
  • #650,331
  • May 31, 2012 10:29pm May 31, 2012 10:29pm
1.19850......
  • #650,332
  • May 31, 2012 10:33pm May 31, 2012 10:33pm
Quoting grashid
1.19850......
next week target ?
Mohan
  • #650,333
  • May 31, 2012 10:39pm May 31, 2012 10:39pm
Quoting ForExtraPips
I always look at what the USD/CHF is doing before making a trade on the E/U pair. I find it interesting that the usd/chf is stuck between a rock and a hard place on the weekly right now.
agrreed not sure how you use lines, but yes a rock and a hard place, I have her there too, let the battle begin
If you are new to Forex? Say Goodbye to your account!!
  • #650,334
  • May 31, 2012 10:45pm May 31, 2012 10:45pm
Quoting KiwiTrada
agrreed not sure how you use lines, but yes a rock and a hard place, I have her there too, let the battle begin
I don't keep track of the U/CHF despite the negative correlation to the EUR/USD. What are the levels we looking at? Or rather how significant?
  • #650,335
  • Jun 1, 2012 12:16am Jun 1, 2012 12:16am
Attached Image (click to enlarge)
Click to Enlarge Name: 57 weekly 05-31-12.gif Size: 26 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #650,336
  • Jun 1, 2012 12:22am Jun 1, 2012 12:22am
Quoting samdani786

up trend?
Happy Trading!!!
  • #650,337
  • Jun 1, 2012 12:26am Jun 1, 2012 12:26am
Quoting FX_buddy
up trend?
Tomorrow's NFP is the KEY. Sit tight and watch.

Either make it to the upside or Break it to the downside. 2329
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #650,338
  • Jun 1, 2012 12:48am Jun 1, 2012 12:48am
terrible hangover.

goodmorning all
Daily Target: 20 pips
  • #650,339
  • Jun 1, 2012 12:58am Jun 1, 2012 12:58am
Announcement

Chicky has relocated. This is the only place on FF to look for him.

Amazing Black Magic Method
The Thief of Wall Street
  • #650,340
  • Jun 1, 2012 1:10am Jun 1, 2012 1:10am
Woot! Chicky, I like your posts - looking forward to seeing your progress
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