Forex Day Trader's Thread

[Pippy5000]

daily head and shoulders in EURO .. selling with a sell stop 1.3785

 

[blancspa]

yeah, let`s whats gonna happen now is interesting, I may wait for retracement or not?
I am substantially short GBP

 

[Pippy5000]

here we go! this move technically targets 1.325 .. I'm short Euro big

 

[wh92stang]

That didn't take long to hit your stop.

 

[Pippy5000]

nope.. not yet.. -21 right now.. I'm really surprised there wasn't a lot more follow through... it looks bad though.

 

[wh92stang]

Yea, In my limited experience it seems like that happens a lot. It'll take out a level, then retrace close to it's previous consolidation area, then resume the trend. It's coming back to you now. I'm in it too. Just one lot for now.

 

[Pippy5000]

concerned about the lack of follow through .. out with +8

 

[Pippy5000]

that was the wimpiest H&S break I've ever seen.. they usually drop 30-40 pips almost instantly

 

[SSINGH]

lol...

What do you guys think???....I smell the potential birth of a long dollar trend!!!

hate to say i told you so!!!!............5 june 09

 

[blancspa]

Idealy I would see resistance around 1.3900 now and the I will short big time

 

[wh92stang]

It even tried to follow through again and again buyers pushed it up.

 

[SSINGH]

cable can hit 16400 again...a convincing breach of 16400.....will take us to 16500++

 

[blancspa]

It even tried to follow through again and again buyers pushed it up.

I ve even opened the window and screamed sell F euro now, everuone !!!

 

[Pippy5000]

I can't believe it.. what kind of maniac places bids right below a broken neckline?

ugh..

 

[wh92stang]

It's pissing me off because it keeps breaking the previous low by about 1 pip and there must be a ****load of buyers down there because it bounces right back up. I'm still holding onto this one for now.

 

[Pippy5000]

yeah I could have had 25 pips.. I just don't like what it's doing ..I almost got stopped out in the beginning

 

[wh92stang]

I think there is increasing strength in the US equity markets which is keeping people from selling the EU for the time being.

 

[Pippy5000]

I think the problem is that people in general are more optimistic about the economy so they will buy on dips whenever there's a little blip like today..

 

[wh92stang]

Alright, now it really looks like it wants to break positively. I'm out now for +2.

 

[Pippy5000]

ouch right before the reversal ..