Recap: No EUR/USD trades taken off yesterday’s signal. Bullish day yesterday as the pair rallied hard from Wednesday’s big drop.
Daily Outlook: A lot of indecision in the markets right now as the price has ended up just where it started to begin the week, forming a nice looking doji on the weekly chart. This indecision could signal a possible reversal in the pair though I think many traders are waiting for the 1.31 resistance zone to start shorting so this very well could just be a false signal…
** This signal has been moved here. Please visit the new signal for trading idea and chatting **
July 23, 2010 at 12:28
Studied bears in the beargarden?
July 23, 2010 at 12:30
Bears at the beargarden.
July 23, 2010 at 12:32
i hope some of you got on that g/u bull =)
July 23, 2010 at 12:35
GM everybody !!! :)
July 23, 2010 at 12:38
Hello everyone, what is cooking? are we just waiting for us sesssion to open to know where to pitch our tents?
July 23, 2010 at 12:41
hello again FRENCH bankk have about 67 md with GRECE (sovreign debt risks) UBS( suiss bank) said about 90MD for all banks(91 banks)
July 23, 2010 at 12:44
Can someone help me with the link to cup and handle pattern?
July 23, 2010 at 12:45
@piphut: Just lost another big money to FX yesterday. I need somebody to help me out. New in the trade with alpari classic account. Waiting please.
July 23, 2010 at 13:04
Sorry friend, but you have to put that behind you and note what you did that gave you the negative result. I strongly afvice that you trade demo for now while you invest i KNOWLEDGE for now. Open a demo with exact value you want in your real account. trade it for at least one month (did i just say, one month? trade it for three months) if that account didnt get wipred out, then you can start with the real buck, meanwhile Mark and his team, Johnny, Zubair, Tom etc can help you here and there, just keep your eyes and hear open to learn. This site may also be considered helpful too, try it out http://www.babaypips.com go to the school page and start from the cradle. Best of Luck Friend
July 23, 2010 at 13:20
Or, at the least, a cent account. FX4U has those. Then you can go real small to get the feel and practice and then ramp up to the larger lots.
July 23, 2010 at 13:09
Hurray, i just survived my short at 1.288 earlier i the morning. Closed it with 3+ after it had earleir skyrocked to -85. I did use SL bcos i know it will get stoped that morning rather, i used contra entry which gave me 40pip net. I susally dont trade on friday but ventured it today. Thank God i didnt get hurt i bet i wont try friday trading again though today seems normal anyway. GL to you all, for now. I shall simply b watching till next week, if i am tempted to trade i will usee a dummy account. Haha :)
July 23, 2010 at 13:14
@Piphut i dont know what the prob is but for the past hour or so each comment i post always find a place to sanwitch itself on the page. if u check posting time, they appear to b inconsistence for now. Cheers
July 23, 2010 at 13:17
where are you it s so quiet what are you doing (is it the last of the week and y are tired)NY ll open in 15 mn and ……moooooving!!!
July 23, 2010 at 13:18
There you go now its really a Friday :)
July 23, 2010 at 13:19
Thats a Friday alright.Anybody knows what happened?
July 23, 2010 at 13:20
TEST
July 23, 2010 at 13:22
Parameters for “haircuts” just released got the market on edge :)
12:30 EST on the expected tests release, press gaggle at 1.
July 23, 2010 at 13:23
NY green CAC red
July 23, 2010 at 13:26
whats going on all the pairs go south any explanation?
July 23, 2010 at 13:39
Hungary Credit Rating May Be Cut to Junk After IMF Talks Fail
http://www.bloomberg.com/news/2010-07-23/hungary-s-credit-rating-may-be-downgraded-by-moody-s-after-imf-talks-fail.html
July 23, 2010 at 13:27
The EUR has been hit hard by word that the stress tests are limited to bank’s trading books…The import here is that loan losses and potentially long-term held positions in government debt appear not to be covered. This is a major defect in terms of comprehensiveness and seriously undermines the credibility of the stress tests and that is why the Euro is being hit. More downside likely and a test of the 1.2700/20 lows is on the radar screen.
July 23, 2010 at 13:32
thanks for the info
July 23, 2010 at 13:43
thanks for the heads up
July 23, 2010 at 13:30
might be this…… Treasurys turn up as U.S. stocks give up gains
July 23, 2010 at 13:32
anybody explain whats going on all the pairs travel south
July 23, 2010 at 13:32
Fibo and pivots doing their magic today on my M15 chart:
Too bad I missed out on the trade opportunities again. :(
July 23, 2010 at 13:34
Fibo and pivots doing their magic on my M15 chart:
http://www.upload.ee/image/701563/EURUSDtoday.PNG
Too bad I missed out on all the good trades again. :(
July 23, 2010 at 13:35
Funny.. My comments were added in the middle..
July 23, 2010 at 13:36
yeah even the site freaks out other the test :)
July 23, 2010 at 13:36
because pivot
July 23, 2010 at 13:41
same 4 d past hour or so
July 23, 2010 at 13:37
@femi
Personally not a fan of demo accounts. Aside from sometimes questionable data feeds I reckon it gives a false sense of security. Also you invariably end up trading a sum far greater than you would use on a live account and miss the huge roll greed/fear play on your psyche when your hard earned dollars are at risk. Better to use a company like Oanda that will let you trade fractions of a cent per pip. No matter what size when real money is at stake you learn far more than you ever can on a demo. Remember the system you use is only a small part of success in this business, the major part is how you deal with the mental pressure that goes with winning and losing money.
July 23, 2010 at 13:44
i second that
July 23, 2010 at 14:03
i agree , demo accounts should really only be used for testing stuff or learning the platform etc.
I never used a demo account apart from the reasons above. 2 years ago when I started I just put $25 into a micro and waded in .
I did of course lose it but this took about 3-4 months during which time I learnt a lot.
July 23, 2010 at 14:16
as I said, cent accounts…
Cheaper tuition than going “all in”…this is not poker, folks.
July 23, 2010 at 14:21
Well said.
Demo is only to learn to use the platform, set up charts, so on. Live trading, even on a micre scale, is the real thing.
This is one of the best sites for tutorial.
http://thepatternsite.com/Tutorials.html
July 23, 2010 at 13:37
Wao, the train suddenly got a supersonic speed and flew down south, if i had left my short at 1.28, i would have enjoyed the ride BUT it is better to miss out than to lose out.
July 23, 2010 at 13:38
thanks @pipsqueek for the explanation
July 23, 2010 at 13:40
any reason behind this dramatic price action?
July 23, 2010 at 13:47
I think the EUR/USD ran to fast out of steem.I bet people were actually expecting 1300 .Now they just freak out and try to safe their money, runing towards USD and JPY,which are considered safe havens
July 23, 2010 at 13:43
Hrly MACD turned lower, downside potential while below 1.2850/60 21/55hr SMA’s, above could see 1.2890, below 1.2810 sees test of 1.2780
July 23, 2010 at 13:44
hummm all my posts are going to middle of page????
July 23, 2010 at 13:51
i think we broke piphut LOL!!
July 23, 2010 at 13:54
piphut is making our STRESSTEST!!!
July 23, 2010 at 13:59
lol
July 23, 2010 at 13:52
Euro Weakens as Banking Stress Tests Don’t Include Bonds Held to Maturity
http://www.bloomberg.com/news/2010-07-23/yen-weakens-versus-euro-as-stocks-gain-boosting-appetite-for-risk-assets.html
July 23, 2010 at 13:53
Test loged in
July 23, 2010 at 13:55
Test loged out
July 23, 2010 at 14:04
Just back. Above 2800/2810 will hold and rebound coming up. (My Quick View…) GL
July 23, 2010 at 14:05
Just back. Above 2800/2810 will hold and rebound coming up. (My Quick View…) GL
July 23, 2010 at 14:05
@piphut l will thank you once again , it happens again ….A more aggressive trade would be a short on a sustained break below 2850 with targets down to 2825, 2800, 2770 and 2740 for 110 pips…..l trail my profit . thanks
@pipqueek thanks also for your advise it is good to be patient.
July 23, 2010 at 14:06
kind of quiet here today …..
July 23, 2010 at 14:07
testing …..
July 23, 2010 at 14:07
Just back. Above 2800/2810 will hold and rebound coming up. (My Quick View…) GL
Prolem posting it seems. First gonna eat now (HAvent had anything the whole yet) catch you later. Remember…we’re going up since I am back (am my little Bully is…)
But before the results come out make up your minds !!!!
July 23, 2010 at 14:10
Pocketed 100 pips in e/j
July 23, 2010 at 14:10
Pocketed +100 pips in e/j
July 23, 2010 at 14:11
test
July 23, 2010 at 14:11
the 1.2850 is not breaked yet, right?
July 23, 2010 at 14:21
“Wet Noodle” stress “tests”. Even I could pass those :)
July 23, 2010 at 14:22
EG should continue to fall next week with the sterling news so good earlier
July 23, 2010 at 14:23
Just collected +100 pips in e/j
July 23, 2010 at 14:24
EG should continue to drop next week
July 23, 2010 at 14:25
EU Stress test assumptions: 2 years of 20% stock mkt declines; short-term rate rise of 125 bps; securitized debt ratings cut by 4 levels
July 23, 2010 at 14:26
hmmmm cant post so will see you guys sunday if you get this
July 23, 2010 at 14:28
Made some, lost some (bad idea with going long) but good money management leaves me in plus. Are fireworks still to come with the stress test?
July 23, 2010 at 14:29
EG should drop more next week under 83
July 23, 2010 at 15:08
Thanks Ttom. here is my email. fredotade@gmail.com