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  • #1,005,641
  • Jun 29, 2015 11:48am Jun 29, 2015 11:48am
Quoting ashe$
HI Do you know why EUR/USD is Bullish with all those Greece problems ?
This will explain it to you. I have been following Kathy for years. She knows FX!!!! http://www.bkassetmanagement.com/cur...-in-euro_8361/
  • #1,005,642
  • Jun 29, 2015 11:52am Jun 29, 2015 11:52am
There is absolutely no rationale as to why the EUR?USD should be going up. It gaps down below the 100 day sma and a trend channel and blows through everything to fill the gap, but doesn't even respect any resistance near the previous days close and the 50 day sma. Throw in the lousy fundamentals (beginning of QE program and Greece) and now I get why forex is futile.
  • #1,005,643
  • Jun 29, 2015 11:54am Jun 29, 2015 11:54am
Quoting Karpa
{quote} Thanks this is just out of curiosity don't get me wrong
Most of the days it works. Only very few days ( Like it happened today ), the price travels beyond the daily average levels.
Intraday only.
  • #1,005,644
  • Jun 29, 2015 11:56am Jun 29, 2015 11:56am
Quoting realdream333
There is absolutely no rationale as to why the EUR?USD should be going up. It gaps down below the 100 day sma and a trend channel and blows through everything to fill the gap, but doesn't even respect any resistance near the previous days close and the 50 day sma. Throw in the lousy fundamentals (beginning of QE program and Greece) and now I get why forex is futile.
It's beautiful that we can ignore all that crap and just have a no-brainer trading day like today.
  • #1,005,645
  • Jun 29, 2015 11:59am Jun 29, 2015 11:59am
How about 4 weeks of consolidation in a tight range from now... that would be perfect and probably will happen.. 1.1280 we meet again., shall we dance?
  • #1,005,646
  • Jun 29, 2015 11:59am Jun 29, 2015 11:59am
Quoting realdream333
There is absolutely no rationale as to why the EUR?USD should be going up. It gaps down below the 100 day sma and a trend channel and blows through everything to fill the gap, but doesn't even respect any resistance near the previous days close and the 50 day sma. Throw in the lousy fundamentals (beginning of QE program and Greece) and now I get why forex is futile.
Very simple explanation: Kathy Lien: "The euro is also being supported by intervention from the Swiss National Bank who is buying EUR/CHF to actively weaken the Swiss Franc." read more here from Kathy. http://www.bkassetmanagement.com/cur...-in-euro_8361/
  • #1,005,647
  • Jun 29, 2015 12:01pm Jun 29, 2015 12:01pm
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  • #1,005,648
  • Jun 29, 2015 12:03pm Jun 29, 2015 12:03pm
Quoting navk
{quote} Most of the days it works. Only very few days ( Like it happened today ), the price travels beyond the daily average levels.
Sure navk
I'm in the business for 2 years and I don't recall such move as today.
The screen i posted shows the highest daily ranges back to Dec/2002.. amazing imo
  • #1,005,649
  • Jun 29, 2015 12:10pm Jun 29, 2015 12:10pm
Quoting Karpa
{quote} Sure navk I'm in the business for 2 years and I don't recall such move as today. The screen i posted shows the highest daily ranges back to Dec/2002.. amazing imo
I've seen plenty of bigger moves. There was hurricane Katrina that led to a non-stop move over a couple of days, and then Lehman Brothers led to some huge moves.
  • #1,005,650
  • Jun 29, 2015 12:11pm Jun 29, 2015 12:11pm
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  • #1,005,651
  • Jun 29, 2015 12:14pm Jun 29, 2015 12:14pm
Quoting Pharm0r
{quote} Do you always trade based on dreams?
I currently are having nightmares, not dreams. Just hope Greece can come to a resolution. LOL!
  • #1,005,652
  • Jun 29, 2015 12:19pm Jun 29, 2015 12:19pm
Hello Everybody,

I'm a new member. Just so you know my background I'm a fairly novice trader (only have 2 years of experience) so take everything I say (which we should be doing with all members anyway) with a grain of salt unless you see these things for yourself. I trade off the dominant longer term trend and use a combination of swing trading and VSA methods. To me what happened today with the Euro looks like a traditional "Test" of the market. The high volume indicates that the market was dropped to see the "hand of the sellers" so to speak, or how much supply was in the market. If the market in the next few days goes flat and fails to make new highs I expect to see a strong dip similar to what we saw in early March. I'm holding short since June 2nd (I'm giving it about 2-3 more months before layering more in to cost average or taking the loss) and have my limit set at 1.06047. If the market breaks into higher ground in the next few days that to me is a huge sign of strength and of major higher prices to come. Until price action proves me wrong today was a major bearish indicator to me on the daily and I'm sticking with my guns. Shouldn't be too much longer before we test lows is my perspective as of today.

Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. – JESSE LIVERMORE

May everyone become a successful and profitable trader.
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  • #1,005,653
  • Edited 12:33pm Jun 29, 2015 12:22pm | Edited 12:33pm
Quoting akhtergroup
{quote} No this is wrong. That is not how limit orders work
i have experienced it more than once. had the arguments with the brokers more than once. i won each one them. people who dont hold trades over the weekend dont experience this. the ones that do, it happens a few times a year. a limit order is triggered at requested price or better. during a gap it will slip past the limit to the open.. if the s/l is within the gap both orders can be executed.
those who can, do. those who cant, talk about those who can
  • #1,005,654
  • Jun 29, 2015 12:24pm Jun 29, 2015 12:24pm
Quoting notouch
{quote} I've seen plenty of bigger moves. There was hurricane Katrina that led to a non-stop move over a couple of days, and then Lehman Brothers led to some huge moves.
Good to know thanks
working on a timeline too
  • #1,005,655
  • Jun 29, 2015 12:27pm Jun 29, 2015 12:27pm
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  • #1,005,656
  • Jun 29, 2015 12:31pm Jun 29, 2015 12:31pm
Quoting gatorinla
{quote} i have experienced it more than once. had the arguments with the brokers more than once. i won each one one them. people who dont hold trades over the weekend dont experience this. the ones that do, it happens a few times a year. a limit order is triggered at requested price or better. during a gap it will slip past the limit to the open.. if the s/l is within the gap both orders can be executed.
Ditto that!!
  • #1,005,657
  • Jun 29, 2015 12:32pm Jun 29, 2015 12:32pm
Quoting priceaction1
wtf is going on !!
ecb buying bonds to prevent contagion
Ubi maior minor cessat
  • #1,005,658
  • Jun 29, 2015 12:35pm Jun 29, 2015 12:35pm
Quoting Bmitchell
{quote} Ditto that!!
and the loss is the spread, in and out in a micro sec.
those who can, do. those who cant, talk about those who can
  • #1,005,659
  • Jun 29, 2015 12:46pm Jun 29, 2015 12:46pm
Quoting notouch
{quote} It's beautiful that we can ignore all that crap and just have a no-brainer trading day like today.
This wasn't a no brainer. EUR is being bought while it should drop like a rock.

I have to agree with the below reason(s) why it didn't:
Quoting Bmitchell
{quote} Very simple explanation: Kathy Lien: "The euro is also being supported by intervention from the Swiss National Bank who is buying EUR/CHF to actively weaken the Swiss Franc." read more here from Kathy. http://www.bkassetmanagement.com/cur...-in-euro_8361/
We already got a glimps of what will happen once the Greek troubles are out of the spotlight last week Monday.

I'm pissed that my TP was just not taken, so annoying. I went from a 150 pips profit this morning to a 40 pip loss. Oh well, holding my short a little longer I guess. Might add if this keeps getting higher or drops again to 1.119x.
  • #1,005,660
  • Jun 29, 2015 12:51pm Jun 29, 2015 12:51pm
Quoting coldvinc
{quote} This wasn't a no brainer. EUR is being bought while it should drop like a rock. I have to agree with the below reason(s) why it didn't: {quote} We already got a glimps of what will happen once the Greek troubles are out of the spotlight last week Monday. I'm pissed that my TP was just not taken, so annoying. I went from a 150 pips profit this morning to a 40 pip loss. Oh well, holding my short a little longer I guess. Might add if this keeps getting higher or drops again to 1.119x.
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