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  • #922,561
  • Sep 9, 2014 5:03pm Sep 9, 2014 5:03pm
Quoting Chicky
{quote} I thought it would go a little higher today after NY opens because of US data. Let's see what happens after half an hour but it will be after 3:00 pm. You are right, we now will have to wait until tomorrow, but the key issue is London in between now and tomorrow. 1.2900 is a long time s/r anyway.
OK. London didn't do much damage and it hit back my entry at 1.2950 during NY session today.

By this time, everyone here should have realized that our support/resistance and predictive levels are not as strong as many believe. They do provide an edge over a random trade, but ain't no more than that. Go long if you feel like and go short if you think it will go down again. I am holding my longs to see if they hit my TP of 1.3450. Fundamentals and several technical do not favor this idea, but I still believe this bounce will take it to at least 1.3080 or near thereto.
The Thief of Wall Street
  • #922,562
  • Sep 9, 2014 5:05pm Sep 9, 2014 5:05pm
Quoting MaxDoom
{quote} and that SL level held up for you..... I took the opportunity of a short there @ 1.2906 {image}
Hi Max,

According to me eurusd market might moves to between 2870 to 2850 than it will pull back to 3100 or further up . Am I correct ?? Please let me know your opinion ....

Thanks..
  • #922,563
  • Sep 9, 2014 5:06pm Sep 9, 2014 5:06pm
Quoting imnicetoyou
{quote} if I know, I would short right? but I didn't, did you?
I live in europe and here everyone wants a weak currency.We need a weak currency for our export. Mr. Mario Draghi and people like him are working for this.
Sure there will be rebounds like today but if you are conscious of the general trend of a currency you will not loose so much.Maybe you will earn some money.
Tried to trade on gbp but with the scottish case is so unpredictable. I only trade on what i think to know .And use stop loss that helps to sleep at night
  • #922,564
  • Sep 9, 2014 5:13pm Sep 9, 2014 5:13pm
Quoting OnlineAddict
{quote} I scalp in both directions, but since 3470 was broken, I feel better about shorting, I leave the trades open longer and trade with higher leverage..than counter trade longs. I hope to short tonight, also, maybe above 2950, we will see.
ok...
but if you only SHORT the EURO, you would be gain more instead of scalping right?
Not sure at this level we should continue short EURO or not... up correction may be needed.
  • #922,565
  • Sep 9, 2014 5:14pm Sep 9, 2014 5:14pm
Quoting Trillion2015
{quote} Hi Max, According to me eurusd market might moves to between 2870 to 2850 than it will pull back to 3100 or further up . Am I correct ?? Please let me know your opinion .... Thanks..
I bet even my niece Janet Yellen won't be able to answer this question.
The Thief of Wall Street
  • #922,566
  • Sep 9, 2014 5:21pm Sep 9, 2014 5:21pm
Quoting imnicetoyou
{quote} ok... but if you only SHORT the EURO, you would be gain more instead of scalping right? Not sure at this level we should continue short EURO or not... up correction may be needed.
I withdraw profits regularly, so I don't like holding positions for too long.
Everyone can see the chart, but only a few can actually read it.
  • #922,567
  • Sep 9, 2014 6:42pm Sep 9, 2014 6:42pm
Well, it the EURO really is contracting its balance sheet while the USD is still very much inflating its, then I see no reason why there wouldn't be a prolonged rise in the EURO.
  • #922,568
  • Sep 9, 2014 7:04pm Sep 9, 2014 7:04pm
Quoting tandh
Well, it the EURO really is contracting its balance sheet while the USD is still very much inflating its, then I see no reason why there wouldn't be a prolonged rise in the EURO.
We will need a double bottom and ideally a higher low, because trends don't end like this, one spike and its over. There will need to be some testing. I think this range 2880-2950 stays until it breaks in one direction again. Until now, we always broke below each range...this time might be different, BUT it needs to go below 29 again for a test first, if a lower low is made again, nothing changes, if not, we might go above 1.3 and then anything is possible.
Everyone can see the chart, but only a few can actually read it.
  • #922,569
  • Sep 9, 2014 7:09pm Sep 9, 2014 7:09pm
some big questions being put to usd bulls by USD BEARS could be a defining moment coming up
If you are new to Forex? Say Goodbye to your account!!
  • #922,570
  • Sep 9, 2014 7:15pm Sep 9, 2014 7:15pm
Quoting KiwiTrada
weekly kiwi has tapped an interesting level, marker 8224, looking to the left previous resistance which as yet hasn't been able to hold as support, and snaked it, it is an interesting level and could give a decent bounce in a bullish market (weekly) personally prefer her to drop thru to 74 - 76c but will see what bounce she can give, sister aussie daily in similar position with possible bounce from ltl...
Kiwi, may i know about your opinion in nzd/usd? Can it test .88 again or higher? What do you think about it? Will nzd become strong like aussie in couple of years?Thanks
  • #922,571
  • Sep 9, 2014 7:19pm Sep 9, 2014 7:19pm
I'm going to pick up a gold contract at 1253.40 and let it run for a day or two.
  • #922,572
  • Sep 9, 2014 7:47pm Sep 9, 2014 7:47pm
break minor sd channel
break minor TL
Attached Image (click to enlarge)
Click to Enlarge Name: 20140910 EU 1.PNG Size: 36 KB
  • #922,573
  • Sep 9, 2014 8:00pm Sep 9, 2014 8:00pm
Quoting Corral
{quote} Kiwi, may i know about your opinion in nzd/usd? Can it test .88 again or higher? What do you think about it? Will nzd become strong like aussie in couple of years?Thanks
good to see you looking at higher timeframes

firstly she is already as strong as aussie, she did go to $1.10 this was primarily on the mineral/ore exports to china, this is although still strong, nothing like when china exploded

now NZ this is monthly, for a moment ignoring the 2008 fiasco, she has been in bull mode, rule of thumb is sell high buy low, for me she is in sell territory big time I was building into and did post repeatedly to keep and eye as she approached 8842 highest shes ever been
so I am short her and will be for a long time, but right now that tap on 8224 could provide a bounce, considering she has been forever in bull mode, now have to consider she is printing a megaphone at an all time high area, breach the megaphone with or without a retest she should/could plummet, so for now higher timeframes is saying becareful possible bounce possible plummet sorry thats not really much help, but remember she is exotic / major, so she and aussie are very susceptible to risk with the USD if usd keeps rocketing she will plummet if pulls back she will bounce, I expect before anything else even reacts
Attached Image (click to enlarge)
Click to Enlarge Name: kiwi monthly.png Size: 30 KB
If you are new to Forex? Say Goodbye to your account!!
  • #922,574
  • Sep 9, 2014 8:03pm Sep 9, 2014 8:03pm
Quoting KiwiTrada
{quote} good to see you looking at higher timeframes firstly she is already as strong as aussie, she did go to $1.10 this was primarily on the mineral/ore exports to china, this is although still strong, nothing like when china exploded now NZ this is monthly, for a moment ignoring the 2008 fiasco, she has been in bull mode, rule of thumb is sell high buy low, for me she is in sell territory big time I was building into and did post repeatedly to keep and eye as she approached 8842 highest shes ever been so I am short her and will be for...
arrgh wrong chart this is right one
Attached Image (click to enlarge)
Click to Enlarge Name: NZ Monthly.png Size: 44 KB
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  • #922,575
  • Sep 9, 2014 8:28pm Sep 9, 2014 8:28pm
short at 1.2946...
  • #922,576
  • Sep 9, 2014 8:32pm Sep 9, 2014 8:32pm
Quoting OnlineAddict
{quote} We will need a double bottom and ideally a higher low, because trends don't end like this, one spike and its over. There will need to be some testing. I think this range 2880-2950 stays until it breaks in one direction again. Until now, we always broke below each range...this time might be different, BUT it needs to go below 29 again for a test first, if a lower low is made again, nothing changes, if not, we might go above 1.3 and then anything is possible.
I agree with you, the down trend shouldn't be ending like this. But, before the final push down, it may bounce more up, hard to say where the bounce will stop.
short a small lot for every 30 pips up is the key?
  • #922,577
  • Sep 9, 2014 8:34pm Sep 9, 2014 8:34pm
Quoting imnicetoyou
short a small lot for every 30 pips up is the key?
I'm waiting for 2880 and might take a long there...with a SL below 2859. Shorts are safe until 2960 is broken.
Everyone can see the chart, but only a few can actually read it.
  • #922,578
  • Sep 9, 2014 8:57pm Sep 9, 2014 8:57pm
Quoting OnlineAddict
{quote} I'm waiting for 2880 and might take a long there...with a SL below 2859. Shorts are safe until 2960 is broken.
Shorts are safe until pa hits the sl.

ps. Market moves very little during Tokyo session, but may be today proves to be different.
The Thief of Wall Street
  • #922,579
  • Sep 9, 2014 9:03pm Sep 9, 2014 9:03pm
Quoting Chicky
Shorts are safe until pa hits the sl. ps.
Yes, but 2960 is where the SL should be, at least for me.
Everyone can see the chart, but only a few can actually read it.
  • #922,580
  • Sep 9, 2014 9:09pm Sep 9, 2014 9:09pm
may i ask what do you mean by pa? thxs...

Quoting Chicky
{quote} Shorts are safe until pa hits the sl. ps. Market moves very little during Tokyo session, but may be today proves to be different.
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