well the explanation is on the last chart on the file....
its been pretty decent though standing orders slightly higher then the day highs were not honored.. but eupppy shorts made out for it... as they were heavier lots...
Well.. Glad if it can help out.. but as mentioned under no circumstances im implying that euro would eventually rise from around there.......
I have lightened up on the euppy shorts and now only tester remaining to see if we could hit around 111.60-65..
Euro still could try to meet tgts around 2290-95 and i intend to long from there...-
GL ...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
I know it might sound like hyperbole, but the Euro is at a very dangerous place. As I pointed out in an earlier post the daily chart from mid-April 2008 to late Sept. 2008 looks like this year's from mid-April to the present. Confidence in the currency is waning around the world, and a loss of confidence is deadly to a currency. I see the short covering, hedge fund rally losing steam. Long positions based on technical views should be entered with caution, I believe. Based on the continually deteriorating conditions in the Euro zone and uncertainty as to when and if ever the ECB can hike rates, this pair should be trading at $.50 (yeah, really).
I know it might sound like hyperbole, but the Euro is at a very dangerous place. As I pointed out in an earlier post the daily chart from mid-April 2008 to late Sept. 2008 looks like this year's from mid-April to the present. Confidence in the currency is waning around the world, and a loss of confidence is deadly to a currency. I see the short covering, hedge fund rally losing steam. Long positions based on technical views should be entered with caution, I believe. Based on the continually deteriorating conditions in the Euro zone and uncertainty as to when and if ever the ECB can hike rates, this pair should be trading at $.50 (yeah, really).
I'm not sure about a collapse...but a resumption of the larger downtrend may be starting to happen once again. The 4 hour chart of EUR/USD is breaking down again.
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Can You feel it? The Bear is stirring. Confidence in the Bullish correction is fading. It's a tangible presence. Even on this Forum the Chatter has died down. I hope You're not all holding Long positions.
Even Madaam B's Crystal Ball is starting to glow again.
You could be right Bill. I have been re assessing the charts and if we break below 2285-90 we should head out for the 2175 longs which is a better supp on the charts...
I still intend to long from 2285-90 region with a tight stop to see if it can get a bounce above to 2350-65 and any failure would be reverting to shorts for a 2175 touch down, only to long again from there....
GL....
EDIT: The daily candle is looking dangerously bearish.........
Last edited by stryker; 06-21-2010 at 06:30 PM.
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
The last 5 hrs or so, euro was contained under few pips.. on charts 2345-55 is setting out as a possible sell zone... Any move higher on the charts we should hit around 2393 which should be perfect for shorts... However given the pace euro is trying to flex muscle 2345-55 just might be it for the euro...
GL...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
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