Euro Forex Pro Weekly 31 May - 04 June 2010

[Mandrake]

Wow you use monday's pivot ? It was so shallow.. But anything goes as long as you can make money at the end of the day.

 

[truelife69]

Wow you use monday's pivot ? It was so shallow.. But anything goes as long as you can make money at the end of the day.

Yup. think i might sit back and watch the market for rest of the day before emotions and greed comes into playoh:. Happy Trading Everyone!

 

[onenikos]

For all its worth, I am now short Eurobuck. Got in at 1.2173 my stop is .2310 and profit at 1.1650 (one entry at 1.55) Three entries with first at 150 pips. At 110 pip + stop will be moved to Break Even. No TS. 3 More short orders are scattered evenly to 30pips below stop with same values as market orders placed. THIS IS NOT A RECOMMENDATION. JUST A COPY OF WHAT I DID.
P.S. Mind you that I am watching 1.2030, 1.1960, and 1.1860 for rebounds in which case I will evaluate a cover.

 

[auna]

I would not suggest you dip into any positions until Asian market tonight which is 8 pm e.s.t. The Euro is down right now but that is expected since we just came out of a memorial week end in the US and the news of the resignation of German prez did influence a bit.

 

[Sive Morten]

New's trading

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.

David.

Hi David,
Well, I do not trade news per se, but I take them into consideration when I make technical analysis of the market.
I make daily updates of the market that based on a technical approach.
This is another tune a bit.

Sive

 

[Mandrake]

Oh boy, Eur is going crazy again. I don't understand it. It doesn't seems to stick to technical movement at all. Why did it retrace at 1.2110 just now ? I managed to get out at 1.2150+ with some profit. It shouldn't retrace by so much. I am losing faith in Eur. I have been better off trading on the crosses, I think you guys should do the same too.

 

[MidnightRun]

Dow, NASDAC and S&P are most probably the reason

 

[Sentinel]

Oh boy, Eur is going crazy again. I don't understand it. It doesn't seems to stick to technical movement at all. Why did it retrace at 1.2110 just now ? I managed to get out at 1.2150+ with some profit. It shouldn't retrace by so much. I am losing faith in Eur. I have been better off trading on the crosses, I think you guys should do the same too.

Are you sure that it is not technical? 1.2130 is the hourly OP level.

 

[Mandrake]

Hi Sentinel, Thanks for posting the attachment. Firstly your chart looks totally different from mine. The price you had at BC is totally off from my chart, your B is at the bottom of a very long tail which I don't have and how come it had such a huge gap during the start of the down move ? Mine did not have any gap at all.

Another important thing why I didn't use that was because the A was from last week's pricing, B to C consolidation was ongoing for more than 1 day and is not clear at all. I don't think it is a valid ABCD pattern. Does anyone have a better opinion on this chart by sentinel ?

 

[Sive Morten]

Another important thing why I didn't use that was because the A was from last week's pricing, B to C consolidation was ongoing for more than 1 day and is not clear at all. I don't think it is a valid ABCD pattern. Does anyone have a better opinion on this chart by sentinel ?

I think pattern is OK, but C point should be 3 bars to the right, because there is a higher maximum exists.
Besides, guys, I've talked that there is a weekly pivot support 1 also.