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  • #670,061
  • Jul 20, 2012 3:17am Jul 20, 2012 3:17am
Quoting tonyo524
I could be wrong, as often I am, but to those considering shorting at the 2270-90 range, be careful or use tight stops. the 4 hour chart has a very clear inverted head and shoulders pattern. If 2300 is tested again, could be a huge breakout.
the fundies are bearish for the euro at this moment

- major austerity protests in Spain, bond yields at just over 7%

- disappointing data out of germany
  • #670,062
  • Jul 20, 2012 3:18am Jul 20, 2012 3:18am
Incredible week, with a perfect pennant forming each day on H1 which has now narrowed right down so something's got to give soon. From Monday, the H1 200EMA has kept the price pretty much in check on the upside, with a very messy turn around, but it's the support that has been so definitive, forming higher highs each day, and turning around real fast on or around the 76.4% fib retracement and powering back up. I sense we are going to roll over, but I could be completely wrong. Again it's pushing up towards the H1 200EMA. With the Euro group meetings being held today, the major pairs could just about do anything today. I've been riding the swings all week, but as I said, now that the pennant is at it's apex, these big swings have got to be over.

Wishing everybody a good weekend.
  • #670,063
  • Jul 20, 2012 3:19am Jul 20, 2012 3:19am
Quoting joemiami
the fundies are bearish for the euro at this moment

- major austerity protests in Spain, bond yields at just over 7%

- disappointing data out of germany
calm yourself... market may have already priced in all the bearishness on the EURO.... a lack of bad news will give eurusd a small boost of perhaps 50 ish pips... and a break through news will result in big moves up.... so im Seriously Seriously Looking at H4... If EURUSD retraces all the way to 1.2450 IM SHORTING BIG.....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #670,064
  • Jul 20, 2012 3:23am Jul 20, 2012 3:23am
Quoting bguguen
Well this is life... There always a mountain taller than the other.... best to stay humble because there are wiser people out there...

Im not for a second disputing that, just commending you on the level of knowledge you appear to have grasped on your journey so far...
Keep those posts coming bro
  • #670,065
  • Jul 20, 2012 3:34am Jul 20, 2012 3:34am
Quoting Dayboy001
Sold @

Eur = 1.2265
GBP = 1.5700

Small stops
Closed @

Eur = 1.2253 = +12
GBP = 1.5688 = +12

  • #670,066
  • Jul 20, 2012 3:42am Jul 20, 2012 3:42am
Quoting joemiami
short from 2270

stop loss set at 2295

out at 2250 +20 ..im falling asleep

be back in a few hours to trade US session....g nite
  • #670,067
  • Jul 20, 2012 3:44am Jul 20, 2012 3:44am
Quoting gautam0597
Pending Short sell limit order @ 1.2276 SL:1.2285 TP:1.2228.
I am sure it will get filled within an hour. Otherwise I will take a position at an acceptable retracement.
Took my profit @ 2248 level. Will enter another short after a retracement.
PRICE ACTION is the only real time indicator.
  • #670,068
  • Jul 20, 2012 3:46am Jul 20, 2012 3:46am
sell in and out for nice +15 pips
Attached Image (click to enlarge)
Click to Enlarge Name: EU H1.JPG Size: 97 KB
Dangdut is a music of my country
  • #670,069
  • Jul 20, 2012 3:53am Jul 20, 2012 3:53am
In evidence once more yesterday was the resumption of a recent theme, namely a continual flight from the single currency. Against an otherwise relatively benign backdrop, the fact that the euro is consistently losing ground against other major currencies is incredibly revealing, suggesting a deep underlying disposition to a reduction of exposure by many different types of wealth managers, especially sovereign wealth funds. Worryingly, there was no particular trigger in evidence yesterday, which reaffirms the underlying weakness of the currency. EUR/JPY fell to a new 11yr low, EUR/GBP dropped to a new four-year low and there were record lows for the euro against the Aussie, Kiwi and CAD. Against the dollar, for the umpteenth time in the past two weeks the 1.23 level has been tested and rejected. For now, there is absolutely no mileage in attempting to stand in front of the steady determination to sell the euro. It does not take a rocket scientist to predict that the euro will likely slide further over coming weeks as money managers with euro-exposure continue to seek a safer haven.
PRICE ACTION is the only real time indicator.
  • #670,070
  • Jul 20, 2012 3:57am Jul 20, 2012 3:57am
were are very near for take of with EUro, this may be the last retracement at 50% and our next stop may most likely be 12350 or 12405.
Attached Image (click to enlarge)
Click to Enlarge Name: eurotakeoff.jpg Size: 243 KB
What does the world cost? A shit, so sell it!
  • #670,071
  • Jul 20, 2012 4:00am Jul 20, 2012 4:00am
Quoting farzadinio
were are very near for take of with EUro, this may be the last retracement at 50% and our next stop may most likely be 12350 or 12405.

what makes you think it will be able to break the upper downward sloping trendline then?
  • #670,072
  • Jul 20, 2012 4:05am Jul 20, 2012 4:05am
Sold

Eur @ 1.2257
GBP @ 1.5700
  • #670,073
  • Jul 20, 2012 4:06am Jul 20, 2012 4:06am
Quoting MaxDoom
what makes you think it will be able to break the upper downward sloping trendline then?
Euro Financeministers are today about to decide to bailout spain banks with 100 b. euro, this could be highly effect bullish for euro, its just like mens balls, if you dont had a partner for a long time, after you get one, it just explode for first time^^
What does the world cost? A shit, so sell it!
  • #670,074
  • Jul 20, 2012 4:07am Jul 20, 2012 4:07am
finally situation is unclear
now i am totally confused about euro area and they problems.
did they do something to make situation better or they didnt????

who can tell me?

cause this week it looks like that and euro and dollar are in both conditions.
and euro and dollar are not strong. they are pulling down and up and cant brake 2330 strong resistance. and 4 or 3 times were in 2170 level.

if that continues i will with no head will buy at support and sell in resistance. if that continues many will ge big profits.
  • #670,075
  • Jul 20, 2012 4:09am Jul 20, 2012 4:09am
Quoting gmambart
hi. I'm new to this forum... I was wondering has anyone taken a look at the latest COT report ? Non commercials were mostly short till july 10. Now, I noticed that before a turn or even a small retracement they start hedging (spreading) like crazy the week before the turn (which makes sense), that didn't happen this week which makes me a little doubtful about the nature of this pullback, what do you think ?
Hi gmambart,

I'm also analyzing COT charts. The 5 year chart on the EUR shows that the COT extreme had only a minor effect on the market, prices further dropped. I won’t be looking to the long side, until I see an even greater extreme picture, I think prices can go further down.

More on the Commitments of Traders report (COT report)
Attached Image (click to enlarge)
Click to Enlarge Name: EUR.png Size: 112 KB
  • #670,076
  • Jul 20, 2012 4:10am Jul 20, 2012 4:10am
Quoting Trader88q
finally situation is unclear
now i am totally confused about euro area and they problems.
did they do something to make situation better or they didnt????

who can tell me?

cause this week it looks like that and euro and dollar are in both conditions.
and euro and dollar are not strong. they are pulling down and up and cant brake 2330 strong resistance. and 4 or 3 times were in 2170 level.
Hey 88q, show you're a trader, set your trade with 1:50 leverage and make big money.
You can't be confused. You can read charts right?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #670,077
  • Jul 20, 2012 4:11am Jul 20, 2012 4:11am
Quoting farzadinio
Euro Financeministers are today about to decide to bailout spain banks with 100 b. euro, this could be highly effect bullish for euro, its just like mens balls, if you dont had a partner for a long time, after you get one, it just explode for first time^^
That's the first time I've ever heard Spanish banks compared to Men's testicles.
  • #670,078
  • Jul 20, 2012 4:13am Jul 20, 2012 4:13am
Quoting KillerWhale
Hey 88q, show you're a trader, set your trade with 1:50 leverage and make big money.
You can't be confused. You can read charts right?
i am afraid that others will pick out my medium luck
  • #670,079
  • Jul 20, 2012 4:15am Jul 20, 2012 4:15am
yesterday was a talking that it will arrive to 2170 level.
and read weeklly forecast for euro. so or its bad forecastor or it will be soon.
http://www.forexcrunch.com/category/...r-usd-outlook/
  • #670,080
  • Jul 20, 2012 4:17am Jul 20, 2012 4:17am
Quoting Trader88q
yesterday was a talking that it will arrive to 2170 level.
not touch maybe bounce from 2240 if good support
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