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Trading EURUSD only

  • #43,041
  • Apr 17, 2013 10:26am Apr 17, 2013 10:26am
Long @53

Reason PA went above 5 SMA and RSI3 over 50

30M PA not near HSR (resistance) or Fibs

Had white candle on 1 min (used for precise entry)

As for MM price saturation zone my next long is at 1.3196 so well outside of the range.

Also this was a big sell off so some retracement is to be expected.

I have to leave for a client meeting in a few and will be back later.

Good luck to one and all.
Trade smaller than rational because the market is irrational...
  • #43,042
  • Apr 17, 2013 10:26am Apr 17, 2013 10:26am
Quoting Pilager
Holy smokes, who saw that coming. This pair had been sitting pretty @.317 the entire day, now this.
I kinda did! But it was more luck and less analysis i guess. @ support now, so Thursday might be black candle.
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #43,043
  • Apr 17, 2013 10:48am Apr 17, 2013 10:48am
1.3020 Safe for now but bearish signs grow

 

  1. Weidmann inspired slide runs stops & follow through hits 1.3034
  2. Asian sellers from overnight cover & mid-East buying aides to stem slide
  3. Italy's BTP auction has good retail & foreign demand, helps to calm bears
  4. Bids at 1.3020/30 (~Apr 15 low) & stops below, close below encourages bears
  5. RSI increases bearish bias & US yield advantage grows
  6. April 5 low & 200 DMA (1.2900/20) eyed on clear move through 1.3020
  7. Chart: http://link.reuters.com/but47t

Trade smaller than rational because the market is irrational...
  • #43,044
  • Apr 17, 2013 10:53am Apr 17, 2013 10:53am
Quoting EuroTraderJD
Long @53 Reason PA went above 5 SMA and RSI3 over 50 30M PA not near HSR (resistance) or Fibs Had white candle on 1 min (used for precise entry) As for MM price saturation zone my next long is at 1.3196 so well outside of the range. Also this was a big sell off so some retracement is to be expected. I have to leave for a client meeting in a few and will be back later. Good luck to one and all.
i am on that train too jd long @40 will target 3273 now
  • #43,045
  • Apr 17, 2013 10:57am Apr 17, 2013 10:57am
Quoting akaprime
i am on that train too jd long @40 will target 3273 now
Good luck brother. I have no target. I get out when the indos tell me because I hyper scalp.
Trade smaller than rational because the market is irrational...
  • #43,046
  • Apr 17, 2013 11:01am Apr 17, 2013 11:01am
Quoting EuroTraderJD
Good luck brother. I have no target. I get out when the indos tell me because I hyper scalp.
gl to u too mate but do tell when u close it
  • #43,047
  • Apr 17, 2013 11:23am Apr 17, 2013 11:23am
Quoting EuroTraderJD
Short @ 99 ITM Time and time again.....Glad I never use a SL. Still got ALL my account equity and now more.
My short is now up 74 pips thanks to your no SL advice. Thanks pardner!
  • #43,048
  • Apr 17, 2013 11:31am Apr 17, 2013 11:31am
Quoting akaprime
gl to u too mate but do tell when u close it
Bro I most certainly will.

However if it goes against me I will keep it as the Euro will visit it again at some point.

This is only my 2nd long the other at 1.3196. If one considers the top of 1.37xx I did pretty good at not buying at the top and started about mid range here.

The only way not using a SL works is to Trade Small and you can Stand Tall when Ms Market goes against you.

Well I have to leave now as I am late for my meeting. See you all in a while.
Trade smaller than rational because the market is irrational...
  • #43,049
  • Apr 17, 2013 11:32am Apr 17, 2013 11:32am
Quoting rehorst
My short is now up 74 pips thanks to your no SL advice. Thanks pardner!
You are welcome bro. Anytime one of us wins we all win.

The key is to trade smaller than rational.... and remember my famous line "Its a Walk To Wealth Not a Race To Riches"
Trade smaller than rational because the market is irrational...
  • #43,050
  • Apr 17, 2013 11:34am Apr 17, 2013 11:34am
Ok all, no reason for the move except that you buy low and sell high. I believe they sold high (the big dogs), now I buy 1.3040 sl 1.3015 below support as the momentum downward was pretty heafty. I would usually place a bigger stop however this is not proven to be support right here so lets see if she has some bullish consolidation.

GL all and happy trading.
Know when to hold em, Know when to fold em!
  • #43,051
  • Apr 17, 2013 11:48am Apr 17, 2013 11:48am
Quoting goods
Ok all, no reason for the move except that you buy low and sell high. I believe they sold high (the big dogs), now I buy 1.3040 sl 1.3015 below support as the momentum downward was pretty heafty. I would usually place a bigger stop however this is not proven to be support right here so lets see if she has some bullish consolidation. GL all and happy trading.

And I been taken out.
Know when to hold em, Know when to fold em!
  • #43,052
  • Apr 17, 2013 11:49am Apr 17, 2013 11:49am
Quoting Bocephus
I have 3010 as POSS support
  • #43,053
  • Apr 17, 2013 11:55am Apr 17, 2013 11:55am
2959 new target
  • #43,054
  • Apr 17, 2013 12:32pm Apr 17, 2013 12:32pm
i see a inverted H&S pattern on eur/usd weekely chart .
Attached Image (click to enlarge)
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  • #43,055
  • Apr 17, 2013 2:00pm Apr 17, 2013 2:00pm
Closed SH at 3017 for 96 pips. Yee-haa
  • #43,056
  • Apr 17, 2013 2:15pm Apr 17, 2013 2:15pm
does it mean to go short now ?
  • #43,057
  • Apr 17, 2013 2:35pm Apr 17, 2013 2:35pm
The 85 days moving average has a great ability in stemming EurUsd once more. Now the attention is on the 200 days moving average of 1.29 and the oscillators confirm the high probability of a bearish market in the next few hours.
Attached Image (click to enlarge)
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  • #43,058
  • Apr 17, 2013 2:51pm Apr 17, 2013 2:51pm
Quoting uncleunder
does it mean to go short now ?
no one is sure of anything, and wright it can go up where it come from or go 100 pips down !?
  • #43,059
  • Apr 17, 2013 5:13pm Apr 17, 2013 5:13pm
Quoting rehorst
Closed SH at 3017 for 96 pips. Yee-haa
Good job brother
Trade smaller than rational because the market is irrational...
  • #43,060
  • Apr 17, 2013 5:16pm Apr 17, 2013 5:16pm
The EUR/USD has strong support around the overnight low of 1.3000 and that will likely hold in the Asian session, says BNZ FX Strategist Kymberly Martin. "The 'surprise' of the Weidmann comments is probably now largely in the price," she says. The pair is at 1.3032 early in New Zealand after weakening sharply overnight when Bundesbank President Jens Weidmann said the ECB could lower interest rates if economic and inflation data suggest it is needed. Looking ahead, she says investors will be watching for UK retail sales, noting that Spain will sell bonds, "a good barometer of current appetite for peripheral European debt."
Trade smaller than rational because the market is irrational...
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