EURUSD

Thank you, sir. Distinguishing well-worth-following traders on here and contemplating their views/trades is one of many keys to success in trading.

cheers

Hmmm...not sure about the friday effect so to speak... but the "no immediate USD QE" effect I think is gonna work hard to erase the weeks gains in eur/usd.

I wrote a rather longish post on a few aspects of sentiment analysis last week over here: http://www.forexfactory.com/showthre...92#post5722692

but, it goes into some detail as to how I felt the risk rally would play out should QE3 not be on the immediate horizon... basically, the catalyst for the risk rally starting last friday was a bad NFP was encouraging to market players in that it would increase the likelyhood of a devaluation of the USD (via a QE3).... now that bernake has spoken out and in fact said something along the lines of "not right now, we need more data"... is gonna deflate the very rational for the risk rally in the first place.

It wasn't so much about "bad NFP = good for euro and other risk markets"...more like "bad NFP = bad for USD = good for currency markets priced against the USD"

no QE3...no USD large scale devaluation... no reason for risk rally (other than a short squeeze....)

X

Hmm...interesting. I've not been very aware of this as a rule...but i'll take a look... how consistent has this been in your experience?

X

A weekly TF maybe but here is an idea:
1: use pre-defined Risk/Reward at least 1:2
2: Use several points for TPs, which will bring Risk Free after first or second TP
3: SL, Update SL for long (time) positions
*** Don't take trades when panic (a clue: when you feel the heart beats)

Thank You

Here is my plan...

I'm watching 1hr chart, 1.2480 looks key level.

1.25 showing some resistance

Daily S1- 1.2480.
--
If broken, next target 1.2440(daily s2,weekly pivot). Strong support.

I think the same

Agreed about 2440... I have a small short in an account I manage, and I'm looking to cover some around that price.

X

Been scaling in shorts from 26 - 07 - 90 with a target of 13.

Probably going to scale in more at 82 and 66 if 82 fails to hold. Pure S/R game today given that the QE3 speculation is out of the picture for now with prices across all asset classes showing a move back in safe haven assets.

But..you can never be too sure.

Imbalances in this price level, seems to be very thin of orders.

Not trading this now, may result some unexpected crap.

ill try short if we get to 515

hourly trendline doesnt seem to give up just yet

?? already long gone on my chart

have been in for short since asia open,closed with good pips before london open. major resistance broken, its friday again, short wisely

mine looks like this

price levels imbalance for now, lots of spikes,

for EU

WATCH OUT FOR 1.2487, IF BROKEN GOOD NEWS

FOR GU

WATCH OUT FOR 1.5429, IF BROKEN GOOD NEWS

AM GOING IN FOR MASSIVE SELL ENTRIES IF BOTH HOLDS,

JUST WHAT I FEEL THOUGH

and we just bounced from it again