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EURUSD

  • #670,001
  • Jul 20, 2012 1:29am Jul 20, 2012 1:29am
Hi ALL Traders...

For those of who are interest in HERE
Always looking the GREAT, never left GOOD Point...
  • #670,002
  • Jul 20, 2012 1:30am Jul 20, 2012 1:30am
I am going to bed, good night everyone. Dreaming of good things
There are those who know, and there are those who don't know.
  • #670,003
  • Jul 20, 2012 1:32am Jul 20, 2012 1:32am
Waited for the news to come up, saw that it was not good for the Euro. Wanted to sell EUR/USD but the value was constantly rising. Waited for it to dip slightly and entered at 1.0056, put a take profit at 1.0036 and stop loss at 1.0076. Didnt dip very far after and sold at 1.0048.
  • #670,004
  • Jul 20, 2012 1:33am Jul 20, 2012 1:33am
Quoting palabara
I am going to bed, good night everyone. Dreaming of good things
me too. It was nice to talk with you
Alternatives are more important than the plan itself
  • #670,005
  • Jul 20, 2012 1:35am Jul 20, 2012 1:35am
Quoting mohan76
Don't buy this kind b/s , any broker can go bankrupt any time , money is not 100% safe anywhere (even under your bed), manage your risk wisely

what you say is true, but the original poster is also right about UK registered brokers, if an organisation is registered and regulated by the FSA in the UK then the UK government provides £85,000 protection which pays out in a matter of weeks if they go bang.

you just have to hope the government does not go bang eh
  • #670,006
  • Jul 20, 2012 1:38am Jul 20, 2012 1:38am
Quoting bguguen
Hi gator!, agreed....
though i think we're bouncing up to 2270
had the same indication not long ago.. #102894 #102908 #102931
those who can, do. those who cant, talk about those who can
  • #670,007
  • Jul 20, 2012 1:38am Jul 20, 2012 1:38am
Headfake or more crap till next week? Let's see.
  • #670,008
  • Jul 20, 2012 1:42am Jul 20, 2012 1:42am
Quoting gatorinla
had the same indication not long ago.. #102894 #102908 #102931
Thank you gator, and yes i read it too, but sad thing is i may be in Kenfen69's ignore/ ban list since a long time ago.... too bad i have yet to reconcile with him and i have no idea how to...
really want to chat with you guys on that thread....
Bang on analysis Gator, however, id like to ask where would be a good place to short the EURUSD.... i have 1.2280 near Asia's High to short....
and being Friday, and we've been having a risk on week for some time now.... perhaps Friday might be a good time for those bankers to bring their money back home??
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #670,009
  • Jul 20, 2012 1:44am Jul 20, 2012 1:44am
Quoting bguguen
Thank you gator, and yes i read it too, but sad thing is i may be in Kenfen69's ignore/ ban list since a long time ago.... too bad i have yet to reconcile with him and i have no idea how to...
really want to chat with you guys on that thread....
Bang on analysis Gator, however, id like to ask where would be a good place to short the EURUSD.... i have 1.2280 near Asia's High to short....
and being Friday, and we've been having a risk on week for some time now.... perhaps Friday might be a good time for those bankers to bring their money back home??...
77/85 area..is a R ...2136 is still not satisfied. after it is.. 2277/91 should start losing power.
those who can, do. those who cant, talk about those who can
  • #670,010
  • Jul 20, 2012 1:45am Jul 20, 2012 1:45am
Quoting MaxDoom
what you say is true, but the original poster is also right about UK registered brokers, if an organisation is registered and regulated by the FSA in the UK then the UK government provides £85,000 protection which pays out in a matter of weeks if they go bang.

you just have to hope the government does not go bang eh
is this protection available for overseas customers ?
Mohan
  • #670,011
  • Jul 20, 2012 1:47am Jul 20, 2012 1:47am
Quoting gatorinla
77/85 area..is a R ...2136 is still not satisfied.
Right so we're betting for a break then... i have a pending short at 1.2280 dunno if it'll fill considering we have EMA200 on the M15 and M30 at 1.2270...
perhaps 10 pips overshoot to get it filled.... :/
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #670,012
  • Jul 20, 2012 1:49am Jul 20, 2012 1:49am
Quoting mohan76
Don't buy this kind b/s , any broker can go bankrupt any time , money is not 100% safe anywhere (even under your bed), manage your risk wisely
Mohan is right. Furthermore, even a broker who is properly accredited and regulated can fail. If they do, you may receive a percentage of your money back as was the case with Killerwhale.

My simple way is to use two UK registered brokers whom I believe to be of good repute and to carefully manage the amount of money that I entrust to them. I maintain the overall balance in the accounts within a particular range. If the balance should happen to fall beneath the minimum amount that I have specified (hopefully only on very rare occasions if ever), I add funds from my trading bank account. Conversely, whenever my balances exceed the maximum specified sum, I withdraw funds to my bank account.

I certainly will not allow my balances to accumulate indefinitely, beyond what I require to cover all margins.
  • #670,013
  • Jul 20, 2012 1:51am Jul 20, 2012 1:51am
Quoting MaxDoom
what you say is true, but the original poster is also right about UK registered brokers, if an organisation is registered and regulated by the FSA in the UK then the UK government provides £85,000 protection which pays out in a matter of weeks if they go bang.

you just have to hope the government does not go bang eh

looks it's limited to few banks

http://www.fsa.gov.uk/Pages/consumer...ps/index.shtml
Mohan
  • #670,014
  • Jul 20, 2012 1:52am Jul 20, 2012 1:52am
Quoting mohan76
looks it's limited to few banks

http://www.fsa.gov.uk/Pages/consumer...ps/index.shtml
Now we just need to make sure the FSA is not gona get their ass whooped with the whole Libor scandal lol....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #670,015
  • Jul 20, 2012 1:57am Jul 20, 2012 1:57am
Quoting bguguen
Now we just need to make sure the FSA is not gona get their ass whooped with the whole Libor scandal lol....
I imagine that the FSA are more likely to need to get their ass wiped!
  • #670,016
  • Jul 20, 2012 1:59am Jul 20, 2012 1:59am
Yes I am hapy to trade in either direction depending upon what unfolds, but my overall bias is still short, why?

Daily made a recent descent from 1.328x to 1.228x and then a nice clean ABC correction into the target zone ending around 45% - see chart

Since then the price has move down again taking out the low of 1.228x and thereby voiding the possibility that it is still correcting that descenmt 1.328x to 1.228x.

So we are technically in a new down trend since 18th Jun and from 1.274x. Such trends normally consist of at least a 5 wave pattern and you can see on the daily chart it has made what could be Wave 1, 2, 3 and is possibly on wave 4.

You can also see this in more detail on the H4 chart where you can also see that the current action since the low 1.216x has been very corrective in nature.

So my thoughts remain to the down side especially if that lower trend line gives.

targets zones are 1.211x to 1.206x then 1.199x to 1.196x.

Does this mean it can't go up - of course not I am just considering probability. The biggest upside risk I see to these technical patterns is the current retrace (potential wave 4) has only extended to about 30% and may need to go a little further yet to 1.236x zone.

The plan becomes invalid if price exceeds 1.241x
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD-sbDaily.png Size: 44 KB
Click to Enlarge Name: EURUSD-sbH4.png Size: 47 KB
  • #670,017
  • Jul 20, 2012 2:00am Jul 20, 2012 2:00am
Thought I'd better introduce myself. I've only posted a couple of small items so far.
I'm a Brit, living mostly in Cz, and started trading FX only 6 weeks ago (traded equities for years) This is a whole new world to me and I'm enjoying it. Started with a very modest pot of £2,500 (leveraged 99%) and have managed to build to £15,000 on EUR/USD - but it has been a fairly easy time shorting.
I chart (not terribly well) but also pay fairly close attn to fundamentals & bond yields & S&P.
Current plan is to go quite heavy (for me) on shorting euro if I can get anywhere above 1.2280/1.2285, S/L/ at 1 23.40/50 and maybe ride out any correction - hoping to see 1.21.20 ish by end next week, as I can't see any prospect of euro pressure getting easier, nor QE fears strenthening in next few days. Only real serious worry is Mon opening figures.
Any thoughts - I'd be really gratefulfor advice from longer term players
  • #670,018
  • Jul 20, 2012 2:00am Jul 20, 2012 2:00am
anyone long at 1.2205
  • #670,019
  • Jul 20, 2012 2:04am Jul 20, 2012 2:04am
Quoting mohan76
looks it's limited to few banks

http://www.fsa.gov.uk/Pages/consumer...ps/index.shtml

No you are wrong there chap I live in the UK and we are all hiding our money around based on these rules.

The word "may" in the statement is referring to overlapping banks where they own each other and so you only get once allowance of 85k per group of banks. Otherwise the words "applies to all deposits you have with an ‘authorised institution" are truely all encompassing.


"This limit applies to all deposits you have with an ‘authorised institution’, which may include several banking and building society brands."
  • #670,020
  • Jul 20, 2012 2:05am Jul 20, 2012 2:05am
Quoting gatorinla
77/85 area..is a R ...2136 is still not satisfied. after it is.. 2277/91 should start losing power.
#103033
those who can, do. those who cant, talk about those who can
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