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

Hii from I m from turkey and getted reach from gpld but every things is terrible fast really confused now and stop all positon. No more trade stop. Just wtach

Originally Posted by Trading4cash

This definately looks like the real thing. Back to 1.49 maybe? Pippin

This is the move I have been waiting for for 3 days now, burned my hands on thinking 'this was it' when it wasn't and now I missed the entry due to unimportant things like work.

Anyway, yes, strong move up, see if it breaks through 4380-4400 if so this could be a wild ride up to 4880-4900.

Wait for the retrace and go long.

Originally Posted by Ilovepippin

This is the move I have been waiting for for 3 days now, burned my hands on thinking 'this was it' when it wasn't and now I missed the entry due to unimportant things like work.

Anyway, yes, strong move up, see if it breaks through 4380-4400 if so this could be a wild ride up to 4880-4900.

Wait for the retrace and go long.

Would like to buy the dip, but the roll is 15 pips. Get real. Realize, I missed my entry earlier in the day, my entry was 4075, though I had considered 4100. Hindsight.

I should have listened to my own bloody advise and bought gold in the morning...and woud have made up all the lost bucks in a year

Originally Posted by Beezap

Would like to buy the dip, but the roll is 15 pips. Get real. Realize, I missed my entry earlier in the day, my entry was 4075, though I had considered 4100. Hindsight.

You will get your chance again - it will range trade broadly before moving up big. Wait and catch it at 1.4150 to 1.4225. It is only about 100 pips below.
Patience will be rewarding. But don't get obdurate about entry point. Look at 3 hour, then 1 hour, and see the chart converging to an entry pt, then look at 5 min and perhaps 1 min charts to narrow down your entry. Make sure the worm has turned and green for a few minutes before buying!

Originally Posted by MUSTANGY

Hii from I m from turkey and getted reach from gpld but every things is terrible fast really confused now and stop all positon. No more trade stop. Just wtach

Good thingy mustangy! Tayke your monney from Aurum and smoke a joint! Congiradjulations!

Originally Posted by Jayson Wonder

I cannot make any sense of this market, I am getting burned on every trade. Nothing makes sense to me any more.

Jayson, you are not alone!

Retail traders are getting the short end of it in the whipsaw trading over the past many days.

My suggestion is, use my GRAY algorithm (Greedy and Risk Averse Yet). Use 1 pip stop loss (or something very tight). If you catch a breakout then let the profit run for 100 pips. Else, it is ok even if you lose 80% of the trades (which is usual in forex trading). Reduce the risk! That is the key.

Originally Posted by bina77

I've read your post and here you said that you will be in with the position for a couple of months...i also had that kind of an idea in trading but long time ago when i realised that the rollover is going to " eat" my position.

You should consider taking an "option" so that you can trade on the long run

Please, visit my blog at GLOBAL TRADER INDICATOR thanks!

Originally Posted by Ilovepippin

There will be a pullback of about 60-70 pips or so and then we will head lower into the 1.44 area. Maybe even upper 43's.

GLOBAL TRADER INDICATOR
Reading between the lines- Today markets gave us a lot of new information. Lets read it, line by line:


Today markets gave us a lot of new information. Lets read it, line by line:
1. Ted spread higher in year:
This spread measures the difference between 3 months libor and 3 month t-bills. In last days (and in previous crises) this spread rised because of the higher libor. This was the result of higher risk aversion, with banks demanding higher premiums to loan money. Yesterday we saw this, but today a libor decreased. The new stuff was that the ted spread skyrocketed because the yield on 3 month t-bill went south to almost zero. The only way to read this is that everyone lost the confidence on financial institutions. The only secure place to put your money is on short-term t-bills, or bellow your bed...

2. US dolar falls:
When compared to a basket of the main world currencies the US dolar lost value today. There is no free lunch, so what happen when fed uses more and more dollars to bail-out financial institutions? For small bailouts, fed reserves are enougth, but when the amount starts to be high, the fed needs to print more money. With more money and the same wealth... We get a lower dollar value.

3. Euro is also weak... JPY is weak too!
This time, the financial turmoil is global. The globalization spread problems around the world so we shall expect same problems worlwide. This is why forex exchanges are relatively flat (when compared to gold...)

4. Gold rises most since 1999:
When people can not find secure places to deposit money and cannot find safe currencies... Gold is the safest place to be.

5. VIX reaches 36:
In the last year crises this was a signal of a bottom of the equity markets. I think that this time we are in the eye of the storm, and we will probably face a major movement. Looking for history we can see that in some important crashes vix went above 40! I believe that we will meet such a vix this time, so i will not be surprised to attend a big crash this week.

6. Recovery will be slow:
This kind of financial crises lasts on average 3 years. We are in the second year... Is this time less problematic than the average crisis? I suspect it isn't. Don't be affraid to lose some rally... Markets will not rally so fast and furious as most of us would like.


CONCLUSIONS: short currencies/ long gold.
first published at myblog

Originally Posted by DollarBull

Good thingy mustangy! Tayke your monney from Aurum and smoke a joint! Congiradjulations!

You cracky me uppy!!!

Originally Posted by DollarBull

You will get your chance again - it will range trade broadly before moving up big. Wait and catch it at 1.4150 to 1.4225. It is only about 100 pips below.
Patience will be rewarding. But don't get obdurate about entry point. Look at 3 hour, then 1 hour, and see the chart converging to an entry pt, then look at 5 min and perhaps 1 min charts to narrow down your entry. Make sure the worm has turned and green for a few minutes before buying!

I'm looking for a pullback to 4200 to go long, BUT I rarely, if ever, open a position during this time period. At least sometime after 8 PM Eastern, after I have had time to make some calculations and reassess where the support and resistance falls.

I get long now at 1.4309, in case Asian push it higher directly from above 1.4300. SL 1.4270

Will move sl soon I get a chance.

I went short at 4331. I believe there will be a retracement till late Thursday, New York time, then an upmove will resume.

Originally Posted by DollarBull

...
Retail traders are getting the short end of it in the whipsaw trading over the past many days.

My suggestion is, use my GRAY algorithm (Greedy and Risk Averse Yet). Use 1 pip stop loss (or something very tight). If you catch a breakout then let the profit run for 100 pips. Else, it is ok even if you lose 80% of the trades (which is usual in forex trading). Reduce the risk! That is the key.

you are right, specially these days... I am using 10-20 pips SL, moving it to BE as soon as possible.. then, if market moves in my direction great, if not, I get out with 1 or 2 pips profit... one dollar is one dollar... current market conditions are not "normal"... ok, a lot of things are not "normal" on these days...

best,

A.

We all need a little humor