Looks like EU is going to try and make a run towards 1.4350-70 resistance area, looking to short there. Weekly USD descending broadening bullish structure as long as 74.25 does not get cut through. Anyway just my view, GL everyone.......Oil, Silver and Gold flying high!
“There are no limitations to the mind except those we acknowledge.”
So let me get this straight. The ECB's Juncker states the Euro is overvalued and it surges. Initially drops 20 pips then surges nearly 40 pips. So just that I'm clear, the ECB Board member thinks the currency is overvalued and that means go long. Don't buy it. The herd is running blind not care where it goes, just run.
Yipe! Yipe! Yipe! lol
Told Ya So!
I'm just curled up in my den. Licking my wounds, silently.
Into the big picture the up move is starting to look exhausted. Volume is getting lower as the price keeps advancing. That's indication of no buying pressure from the proffessional traders. In my opinion the pros are waiting for a really good euro news or really bad dollar news ( either way will work ) so they sell into the public. Then there will be so many left bag holding wondering how is it possible that EUR/USD getting hammered on a possitive data.
Also note the diagonal in red wave (C) but yet to determine if that's an ending or leading diagonal.
O.K. let me get this one straight. We are seeing an uptick in US yields, a primarily factor of dollar strengthening on top of Juncker's comments and the Euro is now in the 1.4335 range. Does any factor actually matter? I mean if the logic is at 1.43 it will go to 1.435 then why not 1.44, 1.5, 1.6, 2.5, 52. At some point reality will take hold.
O.K. let me get this one straight. We are seeing an uptick in US yields, a primarily factor of dollar strengthening on top of Juncker's comments and the Euro is now in the 1.4335 range. Does any factor actually matter? I mean if the logic is at 1.43 it will go to 1.435 then why not 1.44, 1.5, 1.6, 2.5, 52. At some point reality will take hold.
Presently, more euro/usd being buy that euro/usd being sold. This is REALLY (smile)
I've been meaning to ask for some time but why do you always quote 1xx.xx instead of of 1.xxxx ? Every time I see your posts it makes me go and double check if I'm in the right thread. LOL
closed at 14273 (T2) Gonna leave one posi open to target eventually 14254....
i hope ur shorts r not hurtin u tht much.....
i was stuck in a trade from 1.4310, it went against me -36 pips,
it break the channel on 5 min T.F but it was a false break out as price came back in the channel right after droppin,
n all my indicators were tellin me to go long again, n i was back long again from 1.4283 to T.P at 1.4300, it hit my target with 17 pips,
n a few mins later my -36 trade end up with +7 profit at 1.4317
should have waited long n grabbed 30 more pips, but glad i grabbed 50 pips for today...
learning the art of scalpin, n applying some newly learned rules.... working well so far....
HAPPY TRADING....
I've been meaning to ask for some time but why do you always quote 1xx.xx instead of of 1.xxxx ? Every time I see your posts it makes me go and double check if I'm in the right thread. LOL
dunno why really i guess its easier for me to understand the price that way. 1.4350 is a lot of numbers to the right of the decimal, say if someone wrote 1.43544 when i look at that number it takes me a minute to break it down. when i see 143.54 its kinda like dollars and cents and i identify the price right away. that is good question though.
O.K. let me get this one straight. We are seeing an uptick in US yields, a primarily factor of dollar strengthening on top of Juncker's comments and the Euro is now in the 1.4335 range. Does any factor actually matter? I mean if the logic is at 1.43 it will go to 1.435 then why not 1.44, 1.5, 1.6, 2.5, 52. At some point reality will take hold.
That wA@1.42, on Jimbo's chart, has been there for a long time now. On some charts its a w1.
Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'
dunno why really i guess its easier for me to understand the price that way. 1.4350 is a lot of numbers to the right of the decimal, say if someone wrote 1.43544 when i look at that number it takes me a minute to break it down. when i see 143.54 its kinda like dollars and cents and i identify the price right away. that is good question though.
Spartan bro, with all due respect, a lil question from my side too.....
How long u r goin to short?:-)
Yeah! The price continues to rise on low volume the news says.
Myself and a few other traders are perplexed at this while some just keep going along for the ride. That's great! I glad for you.
I just can't fight the fundamental reasons this shouldn't be happening, but it is.
I've attached a photo. Be prepared to step aside if someones foot slips, and the market comes to it's senses.
i hope ur shorts r not hurtin u tht much.....
i was stuck in a trade from 1.4310, it went against me -36 pips,
it break the channel on 5 min T.F but it was a false break out as price came back in the channel right after droppin,
n all my indicators were tellin me to go long again, n i was back long again from 1.4283 to T.P at 1.4300, it hit my target with 17 pips,
n a few mins later my -36 trade end up with +7 profit at 1.4317
should have waited long n grabbed 30 more pips, but glad i grabbed 50 pips for today...
learning the art of scalpin, n applying some newly learned rules.... working well so far....
HAPPY TRADING....
Eska no scalper, many better in that faculty of trading. When eventuality will have it, look for a 3 place set-up. Example, in today, we have trend in greater time as rising yes???? Seek in that greater trend slope but in smaller time a low, a follow high, next low, waiting then for it to rise above previously high value and buy with stop little below. Hard way is to scalp against the trend and reason for this is that with in wave there is just two correction moves with the others being consolidating moves. Scalping in these movement will leave you in the wrong place and with the back to the trend slope. I am sure many have better way than mine but with me simple is work well.
Yeah! The price continues to rise on low volume the news says.
Myself and a few other traders are perplexed at this while some just keep going along for the ride. That's great! I glad for you.
I just can't fight the fundamental reasons this shouldn't be happening, but it is.
I've attached a photo. Be prepared to step aside if someones foot slips, and the market comes to it's senses.
Euro/usd falls fast than it rise, last thing for me will be at that time step any side, just be in faster more excite ride. In mean time, Long @ 1.4255 is looking good to be step any where.
im gonna hold this one for 100 pips. i think we'll sell off here (14350) down to 14240's and then stay close for a pop to 144 after rate hike then have an abc correction. i think 144 will be the end of wave 3 on larger time frame (daily).
Last edited by Spartan_Forex; 04-06-2011 at 11:31 AM.
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Originally Posted by stkelrey 
