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05-10-2012, 12:33 AM #74641
i would sell any up with stop 1.3050 . target 1.2870/1.2815
05-10-2012, 01:15 AM #74642
05-10-2012, 01:27 AM #74643
hey ando24, whats your view on the euro, you a bull or a bear?
Originally Posted by ando24
how's sales, are they good from this forum?
05-10-2012, 01:39 AM #74644
EUR N USD
EURO current and immediate resis is 2955 and if holds out expecting a move down to 2895 but would be incline to see a surge from here onwards as not expecting it to break as of yet.. that is if no EU bad news starts doing the rounds... Expected move today against the 2890-95 hold is expected around to 3027-30 for today...
USD has been in a bull channel instead of an expected wedge I was suspecting earlier.. Still the tops seems to be looking heavy and 8 hrs can show a corrective drop upto around 9930-37...
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...
05-10-2012, 01:45 AM #74645
Hi Sim3. Hope I can help. After all. Been there, done that. Hence my motto. And you are right about the stop losses.
Originally Posted by Sim3
Ok. You broke the cardinal rule by trading against the trend.
You assumed a change in direction because you misread your indicators.
You did not wait for confirmation of a change in direction.
Personally I do not have any indicators on my main charts except for the Heiken Ashi which I find is all one really needs to trade with, along with drawing lines & boxes to show breakouts etc.
My Woodies CCI is only to show divergence & to reassure me that the trend is really down when a minor retracement occurs.
Your last chart say’s it all. The trend was down. You lower indicators had just past through heading South. You went North.
If you still have the trade going, you may be in for the long haul. Either pull out or Hedge at a higher value. Not sure what charting package you have. Hopefully it is easy to hedge with like mine. I hardly ever pull out of a losing trade. I just hedge the hell out of it until it comes good again.
Never rush a trade. Make haste slowly.
05-10-2012, 01:53 AM #74646
Looking for 1.2860, so long as it does not break north for a decent retracement.....
Never rush a trade. Make haste slowly.
05-10-2012, 01:56 AM #74647
I think it needs to get above 1.29832 once it does then it will drop and make a new low sub 1.2900 and from there the longs should be good for a ride
This is with an ending diagonal in view above 1.29832 confirms as long as it does not make it past 1.3045 but 161.8 of A of 4 is at 1.3003 so from there south to 1.2890 give or take and then the bigger ride north
Last edited by captester; 05-10-2012 at 02:01 AM.
Just cleaning up all the leftover pips
05-10-2012, 02:07 AM #74648
EURUSD 30 min
With respect to the trend, I'm still looking into selling on a test or close to 1.30.
In order to make a profit, learn first how to take the loss.
05-10-2012, 02:23 AM #74649
Originally Posted by banison
05-10-2012, 02:38 AM #74650
probably won't jump into any positions until after any reaction to data coming out at 0800 gmt
Originally Posted by banison
05-10-2012, 02:44 AM #74651
Next target to sell 1,2977 and 1,3035
05-10-2012, 02:56 AM #74652
aparently there is some big money propping the euro until an option is time out
anyone know when that is if its not already happened?
05-10-2012, 03:03 AM #74653
*shrug* I don't know, didn't think it could break back up above 1.295 tonight but it surprised me again. EDIT: and now after peaking at 1.2963 it's sliding again; I was waiting for it to go a little higher before shorting again but missed the best point; Gawd this pair can be baffling.
Originally Posted by ericwong
Trend really should stay downward for the next months (European economy cannot grow, I guesstimate, unless euro hits ~1.22 and stays there all summer), but there is more upward pressure than there "should" be. As Sharon says, depreciating the dollar for a quick short-term goose to the US economy (despite any long-term costs) is what Obama needs in election season; my own guess is that the Fed will not actually turn on the spigots until after the Republican convention, but investors are already pricing that in, and dumping dollars anytime bad economic news looks like the Fed might get some excuses. Watch out for the "consumer confidence" data-print this Friday; on March 15 just a slight downtick on that number spurred a huge EUR/USD uptick (wiped out a whole week of mostly decline within an hour). Could be very profitable if you guess the direction right, but if you can't stand the thought of getting burned, sideline yourself before the number hits.
Last edited by Robert Eckert; 05-10-2012 at 03:06 AM.
05-10-2012, 03:14 AM #74654
option expiries are ussually due 10 a.m. NY time - unless they are toasted earlier
Originally Posted by jbiggart
there is still this 1.29 barier and bids ahead
05-10-2012, 03:24 AM #74655
Hi Robert - you mentioned that if this Friday' sconsumer confidence shows a downtick, it could spur huge EUR/USD uptick. I thought that it would spur the stock market downtick and inversely spur a USD uptick. Could you clarify again. Thanks.
Originally Posted by Robert Eckert
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