Discuss EUR/USD News with a DailyFX Analyst - Page 1002 - DailyFX Forex Forum

trip00 · #**15016** (**permalink**) 05-07-2009, 04:48 PM

Quote:

Originally Posted by abro

y do u hate to go long . is there a personal problem or what ? . the market has remained in the favour of the bulls overall ( which prooves that the theory of euro being bearish was wrong ). . BUT IF U DID LIKE TO GO LONG UR WINNING CHANCES WOULD HAD BEEN TWICE .. well do as u wish .. i can only convey not convince ! .

180 pips had i gone long @3250 as you suggest
690 pips the way i traded the same time frame..........

im not eur bearish, i have just chosen to trade it the way i was comfortable.
i am not saying i am a pro, all i am saying is that was how i decided to trade.

rickos · #**15017** (**permalink**) 05-07-2009, 06:32 PM

In early Asia, it seems a mini battle in EUR/AUD is rippling out to other pairs instead of the other way around.

trip00 · #**15018** (**permalink**) 05-07-2009, 06:49 PM

oh hell, i cant stand it any longer.
i am going to short these moves up until i lose money. so, here we go.

short @3392. target 3332. stop 3452

melbgirl · #**15019** (**permalink**) 05-07-2009, 06:54 PM

Quote:

Originally Posted by rickos69

In early Asia, it seems a mini battle in EUR/AUD is rippling out to other pairs instead of the other way around.

Hi Rickos, what do you mean?

rickos · #**15020** (**permalink**) 05-07-2009, 06:55 PM

Quote:

Originally Posted by trip00

but i am certainly going to be on the sidelines for the rest of the week.

No comment!

rickos · #**15021** (**permalink**) 05-07-2009, 06:58 PM

Quote:

Originally Posted by melbgirl

Hi Rickos, what do you mean?

Well, it seems that there were bursts in EUR/AUD back and forth, that caused changes in other AUD pairings. In other words, EUR/AUD traded first, followed by the other pairs. An like I said, in bursts.

I guess I'm used to EUR/AUD responding to other changes rather than going first.

melbgirl · #**15022** (**permalink**) 05-07-2009, 06:59 PM

Quote:

Originally Posted by rickos69

Well, it seems that there were bursts in EUR/AUD back and forth, that caused changes in other AUD pairings. In other words, EUR/AUD traded first, followed by the other pairs. An like I said, in bursts.

Hmmm....maybe because it is now a real carry trade instrument?

rickos · #**15023** (**permalink**) 05-07-2009, 07:02 PM

Quote:

Originally Posted by melbgirl

Hmmm....maybe because it is now a real carry trade instrument?

Well, it deserves it anyway. But if you look at the opening for tonight, and the high, someone was trying to run up the EUR against it. But, it's falling back now.

arodriguez · #**15024** (**permalink**) 05-07-2009, 07:07 PM

The pic herein attached is a good example about using weekly pivot points as exit points or levels for profit taking. I just want to show you how I use it as exit points on my 2-3 days swing trades. According to it, 1.3444 is the new level to break, already tested once. A failure at that level, could send the prices down towards the pivot point at 1.3202. Again, this is just one more tool in the toolbox.

Regards,

A.

melbgirl · #**15025** (**permalink**) 05-07-2009, 07:11 PM

Quote:

Originally Posted by arodriguez

The pic herein attached is a good example about using weekly pivot points as exit points or levels for profit taking. I just want to show you how I use it as exit points on my 2-3 days swing trades. According to it, 1.3444 is the new level to break, already tested once. A failure at that level, could send the prices down towards the pivot point at 1.3202. Again, this is just one more tool in the toolbox.

Regards,

A.

Thanks arod. how do you find the pivot points?

arodriguez · #**15026** (**permalink**) 05-07-2009, 07:29 PM

Quote:

Originally Posted by melbgirl

Thanks arod. how do you find the pivot points?

As I said before, weekly pivot points work well if you are using a weekly workplan. I don't use it too much on daily basis.

I found it researching in the web years ago. I remember some good stuff in Investopedia.com; so just go there to Forex section and search for it. this morning I saw this one:
http://www.investopedia.com/articles...asp?ad=FX_Feat

regards,

A.

CodyB · #**15027** (**permalink**) 05-07-2009, 08:22 PM

Quote:

Originally Posted by melbgirl

Thanks arod. how do you find the pivot points?

quick little school on pivots

Pivot Points: Introduction to Pivot Points for Forex Currency Trading

I would not trade without them and Fibs.

melbgirl · #**15028** (**permalink**) 05-07-2009, 08:23 PM

Thanks guys...

DollarBull · #**15029** (**permalink**) 05-07-2009, 08:48 PM

Quote:

Originally Posted by trip00

oh hell, i cant stand it any longer.
i am going to short these moves up until i lose money. so, here we go.

short @3392. target 3332. stop 3452

For another week not a good idea to short EUR, GBP, AUD, NZD.

JP Morgan predicts that the unemployment in US may reach 10% next year. This is a huge No-No for the US government. They may announce some more drastic QE plans which could send USD reeling downwards in response. Just watch out. Of course, QE's effect will cause inflation and subsequent strengthening of USD, but the question is how soon will that happen to offset the weakening.

rickos · #**15030** (**permalink**) 05-07-2009, 08:57 PM

Quote:

Originally Posted by DollarBull

For another week not a good idea to short EUR, GBP, AUD, NZD.

JP Morgan predicts that the unemployment in US may reach 10% next year. This is a huge No-No for the US government. They may announce some more drastic QE plans which could send USD reeling downwards in response. Just watch out. Of course, QE's effect will cause inflation and subsequent strengthening of USD, but the question is how soon will that happen to offset the weakening.

Ben was sorta outlining how he's gonna exit QE and the stimulus situation today. And your saying there's more?