10-27-09
5:26a GMT – And boy did they come out swinging! The pair dropped over 200 pips yesterday (wow), the single largest move in a couple of months. The uptrend had been so calm recently you could almost feel the big break building up. Does this mean more volatility will return to the pair? We will have to wait and see, but it could mean we’ve reached a point where the dollar bulls won’t sit on the sideline any more and we might see some more range trading. Signals for Tuesday are mixed after the incredibly bullish day and I will look for good candlestick entry points near support and resistance, though I have a bearish leaning. Remember to always use good money management and never trade more than you can afford to lose!
Trading Idea: Look for candlestick entries near support/resistance (red lines on 4h chart below). I will especially be looking for short opportunities near resistance at 1.4950 with short targets at 1.4915, 1.4880 and 1.4845.
(click to enlarge)
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October 27, 2009 at 06:00
Mark. I did a entry of 2 10k lots at 1.4867 with T/P at 1.4894 for a profit of 54pips! Now keeping an eye on USDCHF.
Thanks again!!!
October 27, 2009 at 07:39
Hi Mark!
In this post, when you say “bulls” and “bullish”, you’re in fact meaning “bears” and “bearish”… aren’t you? as yesterday, it was definitely a bearish (euro-bearish) day…
October 27, 2009 at 13:32
Sorry to confuse you, I meant “USD-bullish” which means EUR/USD bearish.
October 27, 2009 at 07:57
@Anton, I spotted that too and it confused me for a second, since Mark is the grandmaster :))
October 27, 2009 at 08:51
Hi guys, anyone went short…
October 27, 2009 at 11:24
Anyone here do trades of 2 lots, with one lot set at T/P to cover the others S/L? I have successfully done this with USDCHF today. Now have one 10k lot riding for free.
October 27, 2009 at 11:51
Ed lets have some detail
October 27, 2009 at 12:01
Yes Ed
Please give more detail??
October 27, 2009 at 12:22
Ok….
I entered a long on USDCHF with 2 10k lots.
1.0165
1.0165
I set 2 10k stop loss(s) at….
1.0135
1.0135
I set 1 10k take profit at….
1.0195
When my 1.0195 is sold I remove one of the 1.0135 stop loss(s) and let the other ride for free.
Hope this helps :)
October 27, 2009 at 13:06
how do you get the automated signals by email – i just lost 14 k and really need some help here man
October 27, 2009 at 13:35
Welcome to PipHut Paul. This is the daily free signal. The “automated email signals” are not released yet.
October 27, 2009 at 13:06
Keep up the good work Ed. Is your SL on the 2nd order at 1.0165?
October 27, 2009 at 13:28
“HENDRIK
Comment on October 27th, 2009.
Keep up the good work Ed. Is your SL on the 2nd order at 1.0165?”
Thanks Hendrick. Actually got this idea from another poster on this site.
To answer your question….
No. My remaining entry is at 1.0165. My SL is at 1.0135 or 30pips risk.
When I took profit on 1 of my lots at 1.0195 (+30pips) I now have no worry of having my remaining SL wiped out. Its now risk free :)
October 27, 2009 at 13:37
Mark dd u entered the trade today
October 27, 2009 at 13:44
Samen I entered a small short after the Bearish Engulfing candlestick on the 1h at 08:00. We’ll see if it breaks through support 1.4840 otherwise I will cover for a small profit.
October 27, 2009 at 13:43
Ed, I always thought a bird in the hand is worth two in the bush
October 27, 2009 at 14:08
I did entered short at 1.4815 right after US data release. Targeting 1.4710.
October 27, 2009 at 14:12
Its 148.08 now should i buy now? is there an opporunity to rise?
October 27, 2009 at 14:15
“Ed, I always thought a bird in the hand is worth two in the bush”
:)
October 27, 2009 at 14:21
Hi Mark, thanks for ur reply and signals
October 27, 2009 at 14:41
hi guys, i am new here, so what i did today is read these signals and just noticed the sudden decline in EUR/USD, i am sure that what was menat by short was exactly what occured, now looking on the long picture and as the signals say is this a good opportunity to buy?
October 27, 2009 at 15:16
any answers guys?
October 27, 2009 at 15:25
Mark, the bearish engulfing candlestick, do you refer to the candlestick that tops at ~ 1.4925 and lows at 1.4885? I dont see that its really engulfing as the previous candle body is not much within this candlestick’s body.
October 27, 2009 at 15:26
I got this e-mail late Mark, these signals already passed :-(
October 27, 2009 at 15:36
Any one :( just gimme an advice, isnt this an apportunity?
October 27, 2009 at 15:36
hello mark,
am nt happy i got the signal late why nw..
regards
October 27, 2009 at 17:18
this is one beautiful move. finally some real action to play off of! i can’t wait for Mark’s analysis tonight! movement = $
October 27, 2009 at 18:00
Ziad i think every one are wayting on a reversal candle stick to apear .
October 27, 2009 at 18:18
I went long with a few lots after this Doji on 1h chart coz after it hit 38% retracment on a daily chart it did retrace back up a bit … nou it hit 50% so i asume it will go back up a bit again :)
just hoping for 20-30 pips profit per lot ….
Other than that will wayt for Marks morning signal :)