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EURUSD

  • #922,501
  • Sep 9, 2014 2:03pm Sep 9, 2014 2:03pm
Quoting OnlineAddict
{quote} Everytime EU goes 50 pips up since the big dive started, people talk about a reversal. Its so funny.
Trying to pick the bottoms of the market.
  • #922,502
  • Sep 9, 2014 2:07pm Sep 9, 2014 2:07pm
Quoting Pharm0r
{quote} Trying to pick the bottoms of the market.
No, thats not it. The charts will clearly show the bottom of the market. What retailers are doing is buying every drop and HOPING its the bottom. We made a new bottom again...even if this goes to 1.2990, its not bull, its bull-shit, so I will be waiting there to short.
Everyone can see the chart, but only a few can actually read it.
  • #922,503
  • Sep 9, 2014 2:15pm Sep 9, 2014 2:15pm
Quoting OnlineAddict
{quote} Everytime EU goes 50 pips up since the big dive started, people talk about a reversal. Its so funny.
Oh, we could have our first positive week since long and go s afterwards.
  • #922,504
  • Sep 9, 2014 2:19pm Sep 9, 2014 2:19pm
2860 is close enough to 2760.

Could see another low but I don't care, I'll buy more with stop below 2750.

Euro loses 9% of its value in 4 months and nobody thinks its a buy?

Obviously day trades will be short for a while, but big money is now beginning to buy.

I consider big money to be traders who scale into positions and accumulate 100,000 or more lots and usually hold for a few weeks/months (and can be longer). Example? The 4 bearish moves off 1.38/1.40 before the BIG drop. That's big money for you, they were holding short since LAST YEAR early 2013 from the 1.37 drop, they didn't sell at all. They just sold more in late 2013 at 1.38 and more in early 2013 at 1.39. They still haven't closed positions (although I'm sure they are looking to soon here, and some of them targetting 1.20)

Might take a consolidation in October too then should bounce in November.
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  • #922,505
  • Sep 9, 2014 2:22pm Sep 9, 2014 2:22pm
Quoting OnlineAddict
{quote} No, thats not it. The charts will clearly show the bottom of the market. What retailers are doing is buying every drop and HOPING its the bottom. We made a new bottom again...even if this goes to 1.2990, its not bull, its bull-shit, so I will be waiting there to short.
haha colorfully put
  • #922,506
  • Sep 9, 2014 2:24pm Sep 9, 2014 2:24pm
Quoting SilverBull
2860 is close enough to 2760. Could see another low but I don't care, I'll buy more with stop below 2750. Euro loses 9% of its value in 4 months and nobody thinks its a buy? Obviously day trades will be short for a while, but big money is now beginning to buy. Might take a consolidation in October too then should bounce in November.
except for QE.

Notice what QE did for USD?
  • #922,507
  • Sep 9, 2014 2:24pm Sep 9, 2014 2:24pm
Ouch even when London is closed the short covering carries on....
  • #922,508
  • Sep 9, 2014 2:26pm Sep 9, 2014 2:26pm
Quoting OnlineAddict
{quote} No, thats not it. The charts will clearly show the bottom of the market. What retailers are doing is buying every drop and HOPING its the bottom. We made a new bottom again...even if this goes to 1.2990, its not bull, its bull-shit, so I will be waiting there to short.
It is obviously a bottom, what do you expect more from Draghi ? It is over dude, time to prepare your belt and cover your shorts.
  • #922,509
  • Sep 9, 2014 2:29pm Sep 9, 2014 2:29pm
Quoting Pharm0r
{quote} except for QE. Notice what QE did for USD?
Obviously big money knew ECBs plan from early 2013.

I don't really care about the fundamental plan.

Techs always show the fundamental sentiment change before it happens.
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  • #922,510
  • Sep 9, 2014 2:32pm Sep 9, 2014 2:32pm
Oh joy! Buy stops above 2930 triggered. Added to longs
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  • #922,511
  • Sep 9, 2014 2:34pm Sep 9, 2014 2:34pm
Quoting Wheathermakr
Im going long!!!
profits taken..
Probably the worlds best currency trader.
  • #922,512
  • Sep 9, 2014 2:36pm Sep 9, 2014 2:36pm
If we get bullish engulfing daily chart will close one short.
We watch the charts from every angle so you don't have to!!
  • #922,513
  • Sep 9, 2014 2:38pm Sep 9, 2014 2:38pm
I cancelled my plan to go long after this.
Everyone can see the chart, but only a few can actually read it.
  • #922,514
  • Sep 9, 2014 2:38pm Sep 9, 2014 2:38pm
It's like a déjà vu, they will pump the price another 20-30 pips tomorrow morning, everybody jumps into buying screaming rally and then they plummet the price 150 pips
Why sell the bottoms when you can buy the tops...
  • #922,515
  • Sep 9, 2014 2:39pm Sep 9, 2014 2:39pm
Quoting pedro319
If we get bullish engulfing will close one short.
Its a wrap. Especially above 2985.
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  • #922,516
  • Sep 9, 2014 2:40pm Sep 9, 2014 2:40pm
I have a friend at work whos into forex.. Just a year experience.., hes buying every indicator known to man, and paying a whopping 97 us$ a month to a copy trader bot... In him i see every mistake i ever made... And it drives me crazy. Hes convinced he can predict the market... Dollars going up tomorrow, this that and the other... Unyet he misses most of the moves, uses no stoploss and heavy account blowing volume..
Only after you have years of experience in this game can you see how frustrating how people just dont GET iT!, and its utterly impossible to teach experience..
  • #922,517
  • Sep 9, 2014 2:40pm Sep 9, 2014 2:40pm
Quoting JustAndy
It's like a déjà vu, they will pump the price another 20-30 pips tomorrow morning, everybody jumps into buying screaming rally and then they plummet the price 150 pips
Can this continue to infinity? Were you saying this every time price dipped in 2013? It would just keep continuing higher to 1.60? Likewise you think EU is just going to slice through 1.275 to 1.20? Not a chance in hell. It will bounce first.

Or were you riding short the whole way up? Retail always sells bottoms and buys tops.
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  • #922,518
  • Sep 9, 2014 2:43pm Sep 9, 2014 2:43pm
This move is not Euro related, so careful. Big boys might have had short orders at 2950.
Everyone can see the chart, but only a few can actually read it.
  • #922,519
  • Sep 9, 2014 2:44pm Sep 9, 2014 2:44pm
Quoting OnlineAddict
{quote} No, thats not it. The charts will clearly show the bottom of the market. What retailers are doing is buying every drop and HOPING its the bottom. We made a new bottom again...even if this goes to 1.2990, its not bull, its bull-shit, so I will be waiting there to short.
I don't believe this is the bottom myself, not after last wednesday's slaughter.
I say it's correcting, maybe a bit up to 1.296552 as per my indi, let's see
  • #922,520
  • Sep 9, 2014 2:45pm Sep 9, 2014 2:45pm
Quoting JustAndy
It's like a déjà vu, they will pump the price another 20-30 pips tomorrow morning, everybody jumps into buying screaming rally and then they plummet the price 150 pips
If you had of gone long when the trendline was broken at About 1.2897, you would not care if tomorrow the price would fall 150 pips.. Yu would have adjusted your stoploss to above break even, let it run, and get stopped out in profit... And if you have had 3 shredded wheat you would have placed a pending sell stop to account for your prediction..

i rest my trendline
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