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EURUSD

  • #745,021
  • Jan 11, 2013 10:10am Jan 11, 2013 10:10am
Madness brave — here wisdom of a life!

To madness brave we sing glory.


To build the capital is a very boring business
  • #745,022
  • Jan 11, 2013 10:10am Jan 11, 2013 10:10am
Quoting MaxDoom
I will look for 3306 for this retrace
taken a short @ 41

going to sit on it though

edit killed it -6
  • #745,023
  • Jan 11, 2013 10:13am Jan 11, 2013 10:13am
Quoting square1
It was a good trading two days for those who took the longs, but you also acted like the shorters of Jan 2nd and 3rd.
However, i learn't a great deal out of it. Never to follow most of your sentiments on the mirror but the Trend of PA.
For those who lost, sorry, i know you never took out that trade the moment your gut told you. Better next time.
nah only bears got burnt were eu bears, i have only shorts today and have done very nice, au kiwi and brit prs, eu is piece of shite

good night till next week
If you are new to Forex? Say Goodbye to your account!!
  • #745,024
  • Jan 11, 2013 10:15am Jan 11, 2013 10:15am
NZDUSD looks like forming a bearish engulfing ...
"It's the Margin, Stupid."
  • #745,025
  • Jan 11, 2013 10:16am Jan 11, 2013 10:16am
Quoting MaxDoom
taken a short @ 41

going to sit on it though
Hi Max, don't you think would be best to wait a reaction near 22 if goes down, or a reaction near 73 if it goes up? 41 is right in the middle. can you help me understand what is it that i cannot see.
hope you don't mind me asking.
thanks
  • #745,026
  • Jan 11, 2013 10:16am Jan 11, 2013 10:16am
I'm so lucky that divorced with Aud/usd and moved in with Eur/Usd, other wise, I'd be scooping sand in my pockets, now. What a disappointment. It doesn't move over 1.06 even USD is dropped to 79.50
  • #745,027
  • Jan 11, 2013 10:17am Jan 11, 2013 10:17am
Quoting KiwiTrada
Agree except for Japan

primary things can strengthen economy

1. Natural resources, oil, gold, ore etc etc

2. Manufacturing for "export"

3. Forign Investment

4. Good Governance

problems are if currency is high you get lower return purely on exchange rates for 1.

if you have to import raw materials to manufacture products or add value poor return is increased for 2.

No one is going to invest in any country when their currency is inflated, they invest when is currency is low, boost economy, inflate currency then the...
Dont forget above the services industry. Not all nations are manufacturing nations. The US in the past has pulled itself out of financial crisis through manufacturing. Today here in the US americans dont want those jobs. Then you have countries like China that come to the US buy our scrap material & are able to ship it back to China reprocess it & manufacture then ship it back to the US and they are still able to beat the prices of US goods. Higher currency also gives those nations the ability to make more aggressive investments. There is no exact set formula.

Tourism is definitely affected look at the casino industry in the US, they where supposed to be recession proof, which in turn hurt the sex industry as well.
It works till it doesn't
  • #745,028
  • Jan 11, 2013 10:19am Jan 11, 2013 10:19am
be ready for 1.3700
  • #745,029
  • Jan 11, 2013 10:19am Jan 11, 2013 10:19am
Will it break 3370 this week?
Not all sins are created equal
  • #745,030
  • Jan 11, 2013 10:19am Jan 11, 2013 10:19am
left in ny's hands this is only going up....
  • #745,031
  • Jan 11, 2013 10:19am Jan 11, 2013 10:19am
Quoting itopforex
be ready for 1.3700
Why?
Not all sins are created equal
  • #745,032
  • Jan 11, 2013 10:21am Jan 11, 2013 10:21am
Quoting itopforex
be ready for 1.3700
pu the pipe down dude. either elaborate or just zip it. its a guess so far.
  • #745,033
  • Jan 11, 2013 10:21am Jan 11, 2013 10:21am
Buy Stop 1.3370
Sell limit 1.3410
  • #745,034
  • Jan 11, 2013 10:22am Jan 11, 2013 10:22am
Quoting godrich
left in ny's hands this is only going up....
9 min to go. then we will see if NY sticks to its latest plan or snaps and bites.
  • #745,035
  • Jan 11, 2013 10:25am Jan 11, 2013 10:25am
Quoting pips-scout
Hi Max, don't you think would be best to wait a reaction near 22 if goes down, or a reaction near 73 if it goes up? 41 is right in the middle. can you help me understand what is it that i cannot see.
hope you don't mind me asking.
thanks
no worries on asking....

Firstly, I posted a little earlier that I was looking at a retrace to 3306

http://www.forexfactory.com/showthre...44#post6358244

Next, we have a slowing rise (blue line on attached chart) then the engulfing bar highlighted which is where I entered.

note also how the rejection is from the same zone as the lows on the left of the chart

but as it is counter to my main bias and objective of 3490 I sit on it tight and killed at -6 such is the way with counter trades I don't want to make my excessive profits average by taking bigger stops on counters.
Attached Image (click to enlarge)
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  • #745,036
  • Jan 11, 2013 10:25am Jan 11, 2013 10:25am
Quoting pips-scout
pu the pipe down dude. either elaborate or just zip it. its a guess so far.
dont tell him to put it down tell him to pass it
It works till it doesn't
  • #745,037
  • Jan 11, 2013 10:27am Jan 11, 2013 10:27am
Quoting DaEdge
dont tell him to put it down tell him to pass it
  • #745,038
  • Jan 11, 2013 10:28am Jan 11, 2013 10:28am
Quoting MaxDoom
taken a short @ 41

going to sit on it though

edit killed it -6

Max, are you using broker that allows short and long for the same currency pair at the same time?
  • #745,039
  • Jan 11, 2013 10:29am Jan 11, 2013 10:29am
Small short from 1.33524. This thing is having problems between 3340-3360 at the moment.
  • #745,040
  • Jan 11, 2013 10:30am Jan 11, 2013 10:30am
Quoting Ken A
Max, are you using broker that allows short and long for the same currency pair at the same time?
yes but it is rare for me to do it - I don't like to pay to go flat

and I am not at present long I closed my long @ 55 earlier
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