Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

Hi Ikee,

I see a similar chart

This drop from yesterday may be a steep a-b-c.
Leg one, starting from Bernanke's speech, from above 1.44 to approximately where we currently stand, and the second leg, after some consolidation, taking the pair even lower, towards 1.4120 - 60. My personal preference is not to chase the current 1.4230 levels down, and either enter a trade setup with a buy lower, or a sell one, towards 1.43.



cheers,
sil
Welcome to TraderMood.com

Originally Posted by Ikee

Are we about to complete a. b c or wave 3 of 5 or neither of the above.?? & is that a H n S forming. All comments welcome.

thanks Cosco, it's all good, have trailing stop now.

Originally Posted by siltdm

My personal preference is not to chase the current 1.4230 levels down, and either enter a trade setup with a buy lower, or a sell one, towards 1.43.

Very wise I think.

Most of traders are sitting on their shorts and this is the reason that it is so quiet here

Yesterday I got hit badly. My second short lots were triggered and stoped out on new hights. After everything seem to go down I reshorted, and put stop loss, which got hit again. I have closed platform and angry went to bed, forgeting one long order inside, which got trigered - nice supprise in the morrning.
I shorted the bloody pair and set stop losses. Have nice pips already and I think this is going to 1,39 or lower. I don't know what was the trigger for this sell off, because FOMC was't telling nothing smart.

I hope that you guys had beter luck on this one.

Originally Posted by MOZI32

hi , this is not a recommendation , every one use his right money management and his stop loss , i wish for all a happy trading

i moved my stop to breakeven 1.4430 add to short on any retracement or on direct break of 1.40

A possible gartley pattern on daily chart,
possible target can be 1.3750....

Originally Posted by Bibi

Most of traders are sitting on their shorts and this is the reason that it is so quiet here

Yesterday I got hit badly. My second short lots were triggered and stoped out on new hights. After everything seem to go down I reshorted, and put stop loss, which got hit again. I have closed platform and angry went to bed, forgeting one long order inside, which got trigered - nice supprise in the morrning.
I shorted the bloody pair and set stop losses. Have nice pips already and I think this is going to 1,39 or lower. I don't know what was the trigger for this sell off, because FOMC was't telling nothing smart.

I hope that you guys had beter luck on this one.

Though I got the top correct, I got stopped out twice as well, first time shorted 4407, triggered by the spike up before dropping to 435+. 2nd time again at 4405 when price did its last spike. Well, you know, I did not try the third time, so here it goes... 300 pips... and still counting...

tired: folks been riding this turkey since 6/22 14:20 1.4423 area closed 1.4136 area. move could forsure have more downside today. cant see nor think properly @ moment. gonna wrap it up & start weekend early. have a safe weekend.

Attempting a pending buy here

The plan is to minimize risk in this move that borders panic, so I am placing a pending order to buy EUR/USD order very low, at 1.4105, with 60 pips stop loss and 80 pips limit. If the setup does not get triggered by 4PM EST time, I will most likely cancel the order, because it means I most likely had lost the opportunity to ride a major degree 4th wave higher.

cheers
sil
Welcome to TraderMood.com

great job Paul and nopain...Ive been shorting this from 1.43... since yesterday I have managed to scalp ilke crazy using the 1 min chart..made about 80 pips scalping didnt sleep much last night..really wired..I have closed my original position once at 1.4130 for about 280 pips - I was so close to getting stopped on this psition..I actually thought I did and there was some kind of mistake on the platform becuase I was about 1 pip away!!! got really lucky!!!! I closed this at 1.4130 then got greedy and went short again at 1.4150..really need a break..greed is preventing me from closing the position...I like nopain voice of reason..really sensible..I might do the same..but arghhh bloody greed...

do you guys see a bounce back up again to 1.42...today??

+ve MACD & RSI divergence on 5 min chart - I think go long here and close at 1.4180....worried i might be overtrading......

Originally Posted by Choucri

great job Paul and nopain...Ive been shorting this from 1.43... since yesterday I have managed to scalp ilke crazy using the 1 min chart..made about 80 pips scalping didnt sleep much last night..really wired..I have closed my original position once at 1.4130 for about 280 pips - I was so close to getting stopped on this psition..I actually thought I did and there was some kind of mistake on the platform becuase I was about 1 pip away!!! got really lucky!!!! I closed this at 1.4130 then got greedy and went short again at 1.4150..really need a break..greed is preventing me from closing the position...I like nopain voice of reason..really sensible..I might do the same..but arghhh bloody greed...

do you guys see a bounce back up again to 1.42...today??

I think you misunderstand.... I said I'm watching it drop 300 pips, not riding it, LOL!

But still, I've scalped about 30 pips while it's not moving much between 418+ to 413+. Now holding long targeting 4186. See, it's real-time posting

And I think breaking 4200 is a bit low probability today, at least I 'll not be targeting that for today. Good luck!

sorry..I did misunderstand..I knew you were bearish and were confident you held em shorts..
I went long now at 1.4160 losing 10 pips on the short @ 1.4150 put a limit 1.4182 which is the high I see about a couple of hours ago..
I think ur right about not breaking 1.42...but when do you go short again?? I'll go short as soon as and IF I hit the limit @ 1.4182 and then put a 30 pip stop and go for a bike ride to flush all teh adrenaline!! thanks and GL to you too!!!

Originally Posted by Bibi

Most of traders are sitting on their shorts and this is the reason that it is so quiet here

Yesterday I got hit badly. My second short lots were triggered and stoped out on new hights. After everything seem to go down I reshorted, and put stop loss, which got hit again. I have closed platform and angry went to bed, forgeting one long order inside, which got trigered - nice supprise in the morrning.
I shorted the bloody pair and set stop losses. Have nice pips already and I think this is going to 1,39 or lower. I don't know what was the trigger for this sell off, because FOMC was't telling nothing smart.

I hope that you guys had beter luck on this one.

Hey Bibi, had one of the busiest day so far.. with so many pairs... it was great going.. started getting into the rally late, but got into the rhythm.. Today i scalped my heart out.. last trades in..... long on eu from 4128 and long on gu from 5943.. cashed most and only light ones in..


GL..

Originally Posted by Choucri

sorry..I did misunderstand..I knew you were bearish and were confident you held em shorts..
I went long now at 1.4160 losing 10 pips on the short @ 1.4150 put a limit 1.4182 which is the high I see about a couple of hours ago..
I think ur right about not breaking 1.42...but when do you go short again?? I'll go short as soon as and IF I hit the limit @ 1.4182 and then put a 30 pip stop and go for a bike ride to flush all teh adrenaline!! thanks and GL to you too!!!

I think you'll do just fine with this plan but there is no certainty in this market, it's your money and your trade, so here's my disclaimer (copied from someone else)