EURUSD

i just love all this long hopium..... its got to be time to consider some heavy shorts............

the weekly bullish momentem seems to be slowing to me and fundimentally the euro area is going backwards.

jesus we still havent passed 3172, any way i think draghi will pull out a rate cut maybe not this month but its comming.

the euro is over priced , and draghi has the next move

You have created wrong trend lines..
You should connect always from the strong bottom, which is on 30th November.
We are still inside the trend line.

The market is never too low to sell and never too high to buy.

Although, I agree there are some good short opportunities coming up.

Hmm yes, that centred top.

On weekly chart I se major downtrend, hence taking us back to 1.25, totally aware whole forum speaks bull trend, basically because market has risen for 3 weeks entering 4th this week.

On weekly if you zoom in on last 10 candlesticks there was massive congestion here after uptrend, that was the 1300 pip climb from 1.20

Now I am not an expert, but using common sense (which doesnt help in forex) if the market reversed after a 1300 pip climb, why would a move less then 50% create a break? Bit of a question I have for someone with more experience.

in response to "euro area is going backwards"

remember EUR/USD has two economies involved. So to say the EU chart will drop, the US economy should be doing better, relatively speaking.

wrong or not,it works for me. you can also see 2 large moves up when price hit this TL.and bottom on 30th nov. doesnt seem strong to me, since LH was made afterwards

Which timeframe the best shows what will happen with crude in 48 hours, is it daily 4h or 1h or maybe 15 min? Please help, because I bought oil at 89.92 too big position for scalp and didnt use stop, then I whent to kitchen prepare some dinner and it fell fast. So I was watching on daily and it looked bullish but now I just dont know anymore.

Liquidate your position now.

Open Weekly Chart
Put 100 EMA
What do you see?

I see a clear upside momentum at 1.3144 range.

We are seeing some correction right now, We had around 90 pips movement today.
We have dropped around 25-30 pips, currently at 1.3054 levels.
I see should settle around 1.3040 - 1.3055 support range. Which is Interm Support. The Major Support lies around 1.3020 and 1.3008/9
Before an uprise.

Be patient.
If you have power to hold.
Its just profit taking.
If Daily tells you Bullish, and you know technical analysis understanding, be Patient. it will reward you..
But if you have taken such a big position, impacting your account, think quick.. Or else if its not, sit tight, open Daily and weekly charts, put trend lines, and all, and check out the next move.

Quick survey for the EUR/USD (Dec 3, 2012 17:30) ...


Euro Hits 6-Wk High vs Dollar as Confidence Gradually Returns

--Euro hits highest level in almost six weeks vs dollar

--Confidence seen gradually returning to euro zone

--Yen weakness hits resistance as yen bearish positions swell to largest since July 2007

EUR Not Key Driver Of EM FX - Deutsche Bank

Greek Buyback Participation Report Pushes Euro Higher

3 Dec 2012, 16:54

10:53 EST - With sentiment already positive on the euro, news that Greece's debt buy back could reduce net debt by EUR20 billion, and that there is a good chance that state-run pension funds will take part in the buyback, gave the single currency a slight nudge higher. The report is according to a WSJ source. The euro was at $1.3064, from $1.2986 late Friday, according to EBS via CQG. Earlier in the day, it touched $1.3075, its highest level since Oct 23. George Dowd, who heads Newedge USA 's foreign-exchange trading desk in Chicago, said there will be stop-loss barriers at $1.3140, but the currency could make a run for that level.



December 03, 2012 10:54 ET (15:54 GMT)


2012-12-03_14h45 - ZigZag + Pivot Survey _ EURUSD _ Rolling _ W-49 # FC51 (EN Daily, Weekly).PNG (133.7 KB)

2012-12-03_17h30 - ZigZag + Pivot Survey _ EURUSD _ Rolling _ W-49 # EY51 (EN Daily, Weekly).PNG (132.0 KB)


Outlook for the sessions ahead (WEEK NO. 49) and latest "Trade Hints" for Monday (Dec 3, 2012) ...







;-|

did you like my forecast?! I enjoy it...
ps: PinBar are da best!!!

u might want to be careful with your trade entry in the future, before u enter, always understand there's going to be a risk involved regardless of any set up, even if u don't have a stop loss in place yet, always have a mental stop loss in place to know that you are wrong, then look for opportunities to cut when price retrace back to resistance turns support or support turn resistance area, if you are lucky u can square it at break even first and don't think of reversal yet. Look for new set up again.

A good trader is a good risk manager, he can't be certain that his set up is going to work all the time, so always trade a position sizing that allows you to think rationale and sleep in peace, leveraging is really a very bad choice as that's what most brokers want their clients to fall into, to use leverage there is always a high risk reward high probability set up rather than using the entire account. Brokers want their clients to fall into the majority of group " inconsistent " traders that even despite initial gains will eventually lose their money as often they categorized their clients into group A and B, with majority as losers which is why they are advertising heavily for new accounts, other than real ecn broker.

If the position is big, you might want to understand your own habits and routine, don't just walk away from your screen in important sessions or moment, a minute a second in the Forex candle up down or ticks can cause alot of decision making. No one can tell you about the pair's future, it's mostly biased views. U might want to take note of Fibonacci levels instead, a low does not mean a bounce, a low can mean further sell support, a buy does not mean high, can mean further buy stops, just like how eur/usd was played out earlier, 1.3025 taken out, buy stops can be easily placed above to catch the waves, as eventually there's always a time a Hi and Low is created for the day, a 2nd time 1.3045 area was taken out, buy stops would had captured the moves from 1.3050-75 in few 5 minutes bar easily and exit instead of joining the queue of consolidation waves up down retracement, eventually it will have to buy higher and sell lower to get the numbers. Don't get into a trade just for the sake of being in one, take it as an experience you are going through, don't panic, analyze and believe your own self, if not why even trade.

I would always recommend, buy/sell stops in an area of consolidation hi and low when price is not moving a direction yet. When price is in numbers, it always give the trader the impression of a good low or hi then they jump into a trade within the area which is actually giving random signals, but i generally believe when price move because it want to move out of its current zone, and normally that first few candle and ticks that get out of the area, will push faster and plunge faster, and you can actually get yourself in profits faster with trailing stops to protect your positions, instead of buy low sell high, one might want to use sell stops to get the possible going-down move, and buy stops to catch the possible going up move, and that rely on strategy.

An example of buy low will work just like what happened in eur/usd, price take the first push out of 1.3025 daily high previous into 1.3046 area first, when price was at 1.3005 who would thought of buying when price was fluctuating at 1.2993-1.3005 before the upmove. So after the rally into 1.3046, a trader might only want to buy lo in the direction of the intra-day prevailing trend when reported bids was also reported on 1.3020, and that area 1.3019 actually got a good lift back into top 1.3045 a few times before then 1.3075, another retracement down to 1.3033 then up to 1.3075 again.

What can we see from here? a higher low , an uptrend. 1.2945, 1.2968, 1.2985, 1.3019, 1.3033. ??? A buy trade momentum trader can always look for a confirmation of higher lo or rejection at low at areas of support turns resistance, resistance turns support to load a good limit, if price is going down heavily in an event of retracement/possible reversal on fibo levels, a trader can place buy stops if price get a rejection of its low to show certain strength in so called bids/bounce if the price is meant to go up. For instance, if i have seen 1.2945, 1.2968, 1.2985, 1.3019, then another time i didn't capture a higher low of " 1.3033 " instead price went to 1.3015 first, the next possible thought that will come to me is there might be a reversal or full retracement back to daily low as there isn't a higher low seen.

A naked chart says it all, make trading visible and simple. An-intraday view. Traders without an effective system or a system that they follow strictly with a good plan of risk and reward management should not junk up their charts with too many fanciful indicators this will only affects " trading what you want to happen " not trading " what you are seeing ". Trading what you want to happen will end up in biased trading actions/direction, and can be severed if a trader keeps adding positions in the wrong direction resulting in " collapsed trading " rolling in red floats/DD. Trading what you are seeing, gives u the two probability that price can go up and go down, makes you an unbiased trader and gives you chance to catch either waves.

As a retail trader, one should not be too focus on the fundamental, or the direction of price in bull/bear unless you are a long term trader that can withstand the period of noise. We just want to make some good pips and exit safely right?

We are seeing the power of the money of big boys not the power of euro (so a disaster can happen at any moment).

Fack the euro

Last time i checked you were headging and calling for EUR at 1.35 , now what ?

I guess your trade ([email protected]) has reached a margin call and you're pissed off ...
that's not a fault of the instrument you traded, but just your lack of ability to exit this loser on time.
Take a break from trading and return when you ready mentally ... anger will lead you again to another bad executions and poor management.

Now euro can go to hell! I think its going to 1.4120

No, his margin call should be near early 1.31X ...