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Trading EURUSD only

  • #43,101
  • Apr 18, 2013 7:46am Apr 18, 2013 7:46am
Quoting EuroTraderJD
Possibly but the number wasnt that much of expectations. The things to watch for are manufacturing and Italian elecetions

The bad thing about news is that they are well known to big traders before they are spread to us, so the price is already where it should be.
Things that bother me in news right now are:

1.What will happen if countries from EU start selling gold (IMO EURUSD will fall, but I'm no expert).
2.What if two more countries in Europe adopt the Euro currency? (Romania and Bulgaria - both way under European standard).
3.Will Slovenia move the pair as hard as Cyprus?
4. Was steve right saying that it is time to trade EURUSD bellow 1.0 ?


PS: I wasn't talking 1.28ish today, but soon.

Another great trade ET JD "Long @ 51 now +16"
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #43,102
  • Apr 18, 2013 7:48am Apr 18, 2013 7:48am
EUR/USD around 1.3065/70 after US data

FXstreet.com (Barcelona) - The bloc currency advanced some pips to the area of 1.3065/70 after the marginal change in the weekly report on the US labour market. The report showed that Initial Claims rose a tad to 352K in the week ending on April 13, missing the median at 350K and above the previous week’s 348K (revised).

Next on tap in the US docket will be the Philly Fed manufacturing Survey, as well as speeches by Fed’s Kocherlakota, Lacker and FOMC’s Raskin.

At the moment, the pair is up 0.29% at 1.3069 with the next resistance at 1.3108 (MA55d) followed by 1.3202 (high Apr.16) and then 1.3229 (50% of Feb-Apr slide).
On the flip side, a violation of 1.3001 (low Apr.17) would open the door to 1.2963 (low Apr.8) en route to 1.2959 (MA21d).
Trade smaller than rational because the market is irrational...
  • #43,103
  • Apr 18, 2013 7:51am Apr 18, 2013 7:51am
Quoting goods
I'm out of my short man... never never never trade just based on someone's entry.
Ouch. Spanked. Thanks. It hurt so good.

I do tend to follow others advice...after I've checked out the facts. AND...I attribute that to my success in becoming a rentier.
  • #43,104
  • Apr 18, 2013 7:56am Apr 18, 2013 7:56am
BitCoin Exchange BitFloor Shuts Down. See if you cant hold it and defend it with an assault weapon it aint yours.
Trade smaller than rational because the market is irrational...
  • #43,105
  • Apr 18, 2013 7:58am Apr 18, 2013 7:58am
Quoting sypherBG
The bad thing about news is that they are well known to big traders before they are spread to us, so the price is already where it should be. Things that bother me in news right now are: 1.What will happen if countries from EU start selling gold (IMO EURUSD will fall, but I'm no expert). 2.What if two more countries in Europe adopt the Euro currency? (Romania and Bulgaria - both way under European standard). 3.Will Slovenia move the pair as hard as Cyprus? 4. Was steve right saying that it is time to trade EURUSD bellow 1.0 ? PS: I wasn't talking...
Brother I agree with everything you said and thanks for clearing up the timeline on 1.28

This is why I listen to the news and use PA w/indos to trade.

FA paints the bigger chart patterns and TA fills it in IMO
Trade smaller than rational because the market is irrational...
  • #43,106
  • Apr 18, 2013 8:00am Apr 18, 2013 8:00am
Put a TS For 10 pips I am leaving Hot Mamas and going to my office no doubt will be hit.
Trade smaller than rational because the market is irrational...
  • #43,107
  • Apr 18, 2013 8:00am Apr 18, 2013 8:00am
Quoting rehorst
Ouch. Spanked. Thanks. It hurt so good. I do tend to follow others advice...after I've checked out the facts. AND...I attribute that to my success in becoming a rentier.
HAHA its all good man, just make sure you trade based on your risk is all I mean. I am more than willing to help out and will answer whatever questions I can for you.
Know when to hold em, Know when to fold em!
  • #43,108
  • Apr 18, 2013 8:07am Apr 18, 2013 8:07am
possible formation of H&S on 1 hr chart , I'll be going short if the pair traces back from 1.3160 level
Attached Image (click to enlarge)
Click to Enlarge Name: h&s.gif Size: 59 KB
  • #43,109
  • Apr 18, 2013 8:22am Apr 18, 2013 8:22am
Quoting gaurav.132
possible formation of H&S on 1 hr chart , I'll be going short if the pair traces back from 1.3160 level {image}
sorry mate but i am not convinced with this h&s
  • #43,110
  • Apr 18, 2013 8:28am Apr 18, 2013 8:28am
I once read that experienced traders can tell where the market is headed just by looking at the charts. However, even though I'm a complete amateur, I have come to respect how news and fundamental analysis really affect trading. I'm not in a position to question whether that statement was bogus or not, but from my assessment, which is less than 1 year, Fundamental trading moves the market more than what technical analysis tools show.

Quoting EuroTraderJD
Brother I agree with everything you said and thanks for clearing up the timeline on 1.28 This is why I listen to the news and use PA w/indos to trade. FA paints the bigger chart patterns and TA fills it in IMO
  • #43,111
  • Apr 18, 2013 8:35am Apr 18, 2013 8:35am
Quoting Pilager
I once read that experienced traders can tell where the market is headed just by looking at the charts. However, even though I'm a complete amateur, I have come to respect how news and fundamental analysis really affect trading. I'm not in a position to question whether that statement was bogus or not, but from my assessment, which is less than 1 year, Fundamental trading moves the market more than what technical analysis tools show.
welcome pilager ... u are in every position to ask questions ask why ... for ever post u see this will improve ur trading mate ... as far as ur thing anout fundies goes i back it just a lil bit mate ... fundies can be helpful for a day's trade but when trading higher tf's techies is ur way to go ... 1.2542 is my technical target on one of my longterm trade and on the short term i am looking for 3273 to short from there again ...
and welcome again happy pipping
  • #43,112
  • Apr 18, 2013 8:38am Apr 18, 2013 8:38am
TS hit on long @51 +5

A win is a win is a win regardless. One of many opportunities Ms Market gives us. She is one generous woman

Looking at the PA it was the right move. Can always re enter
Trade smaller than rational because the market is irrational...
  • #43,113
  • Apr 18, 2013 8:42am Apr 18, 2013 8:42am
Possible EU count...who knows anymore
Attached Image (click to enlarge)
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  • #43,114
  • Apr 18, 2013 8:43am Apr 18, 2013 8:43am
Quoting EuroTraderJD
TS hit on long @51 +5 A win is a win is a win regardless. One of many opportunities Ms Market gives us. She is one generous woman Looking at the PA it was the right move. Can always re enter
hey jd thanks for the pyramid mate ....
i am still holding my longs for 1st tp 3100 2nd 3160 & 3rd 3250-73
gl mate
  • #43,115
  • Apr 18, 2013 8:45am Apr 18, 2013 8:45am
Quoting Pilager
I once read that experienced traders can tell where the market is headed just by looking at the charts. However, even though I'm a complete amateur, I have come to respect how news and fundamental analysis really affect trading. I'm not in a position to question whether that statement was bogus or not, but from my assessment, which is less than 1 year, Fundamental trading moves the market more than what technical analysis tools show.
IMO FA paints the bigger charts / breaking news is and/or can be a catalyst for a move / TA fills the chart in.

I am no expert either just an FX soldier a veteran of many tours of duty.
Trade smaller than rational because the market is irrational...
  • #43,116
  • Apr 18, 2013 8:46am Apr 18, 2013 8:46am
Quoting MeInGraySuit
Possible EU count...who knows anymore {image}
ur charts always help gray ... maybe pmi will chear things out lets wait and watch
  • #43,117
  • Apr 18, 2013 8:48am Apr 18, 2013 8:48am
Quoting akaprime
hey jd thanks for the pyramid mate .... i am still holding my longs for 1st tp 3100 2nd 3160 & 3rd 3250-73 gl mate
You are welcome brother I hope you can profit by it like I have.

GL on your longs. I am not sure about anything over 3100 though.

To be honest its not my style to predict where Ms Market may go (because I suck at that). I just follow her where ever she leads me (much better at that and way easier).
Trade smaller than rational because the market is irrational...
  • #43,118
  • Apr 18, 2013 8:51am Apr 18, 2013 8:51am
Eu Tech Trader

Sharp retrace yday back below the broken 38.2% fibo, and the close back below the line, puts the bias back on the bears. Off yday's base intraday but look to use upticks as fresh selling opportunities. Intraday spot has pushed through the 10 DMA - eyeing 55 DMA next. Daily trend studies show room to fall.
Trade smaller than rational because the market is irrational...
  • #43,119
  • Apr 18, 2013 8:55am Apr 18, 2013 8:55am
Eventhough Ms Market is getting weak knees here I will not short because of the MM. Its within my Price Saturation zone so I must stand down (50 pips currently)

I did go long and made a minor win.

Pulling out that big tool in my FX tool box called Patience
Trade smaller than rational because the market is irrational...
  • #43,120
  • Apr 18, 2013 8:57am Apr 18, 2013 8:57am
US March leading indicators & Phily fed up next at 14.00gmt
Trade smaller than rational because the market is irrational...
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