Euro Forex Pro Weekly 31 May - 04 June 2010

[Sive Morten]

EUR/USD Update, Tue 01 June

Good Morning, everybody

I do not prepare any update for today. Market was anemic yesterday due to Memorial Day, so nothing to add right now. My expectations for Monday (I've post them in the head of the current thread) I spread for today. If upmove should start - I expect that it will start from 1.2240 area. If not - I'll be waiting for down move.

I'll prepare new update tomorrow.

Sive.

 

[Mandrake]

Alrighty, not only is there no buying signal, it broke the trendline downwards, now moving fast lower. I had short it with double the stake. Now sitting on a comfortable profit I hope it can break 1.2140 and shoot down like a rocket. We should all make money after that as it would be easy play.

 

[Mandrake]

Haha EUR is not moving much when its suppose to rise a bit but it drops a lot when its suppose to drop a bit. No new entries here since the break downwards, I hope you guys are also in it, going short.

Quite a lot of good movement happening on many of the crosses as well. It is definitely a good trading day.

Good Luck Guys.

 

[Mahtab Sarwar]

No new entries here since the break downwards, I hope you guys are also in it, going short.

Good Luck Guys.

Thanks Mandrake, how far do you think it will fall ? Is it too late to go in short already (at 1.2140) ?

 

[truelife69]

Haha EUR is not moving much when its suppose to rise a bit but it drops a lot when its suppose to drop a bit. No new entries here since the break downwards, I hope you guys are also in it, going short.

Quite a lot of good movement happening on many of the crosses as well. It is definitely a good trading day.

Good Luck Guys.

i opened two short positions since Monday, woke up this morning and what do you know a total of 300 pips... sadly my positions were closed due to take profit. lol

 

[Mandrake]

Hi Mahtab, you can try to go in now but enter with less than usual or half. I still prefer to wait for strong move again before entering as it may retrace a little before going down again which you might lose some pips if you were to short it later during a retracement if it happens.

 

[Mandrake]

Wow Truelife, you were gambling on it, luckily it went down. As of yesterday until a few hours ago, it seems to be going up instead of down. It was a dangerous play.

 

[Mahtab Sarwar]

thanks !!

 

[DaveO]

i opened two short positions since Monday, woke up this morning and what do you know a total of 300 pips... sadly my positions were closed due to take profit. lol

If we all posted our trades in this thread it would become a complete farce. Its difficult enough to find the news trading analysis in this weird forum without traders stream of consciousness on personal positions.

After 10 days of subscribing to this feed I am still trying to spot value from news trading. Thus far it would seem to be a complete waste of time.

Is there any post announcement commentary from Sive Morton each week, like wrapping up the week so we know whether we have missed some relevant opportunity to trade some specific news announcement ? I haven't spotted a single trade opportunity related to news announcements thus far either from Sive or Crazy. Maybe I have missed something ?

David.

 

[truelife69]

Wow Truelife, you were gambling on it, luckily it went down. As of yesterday until a few hours ago, it seems to be going up instead of down. It was a dangerous play.

i wouldn't call it gambling, when Spain's rating got downgraded on Friday from AAA+ to AA+ lot's of analyst were saying it would be more bad news for the Euro then after seeing price failing to break Monday's pivot three 3 times (although it was a holiday) i entered shot, but i was surprised to see it drop so much so quickly. so a bit of fundamental and technical before shorting.