Forex Day Trader's Thread

[Pippy5000]

it would be absolutely insane to short Euro with a big stop.. you'll get stopped out big..

 

[bbc1183]

personally ive been selling this euro all day... taking some profits, then putting it back on.... i have pretty decent size on short.... this is a definitite rising/ending wedge its putting in here in my opinion... i think it'll be a great short over the next couple days.

 

[Pippy5000]

WHY is Euro going up?

 

[Tuky]

Because US gov need to flush away debt. They will devalue dollar and destroy other currencies and present new world currency which will control JPM, GS, Rotschilds (not our friend on the forum) and others. This is the big picture

 

[bbc1183]

its completing this rising wedge which i think is ending a larger 5th wave up. i have orders out to short up to 1.479..... i think a correction lower is not far off....after that it'll be free to move higher if it wants to but it'll drop a couple hundred pips first in my opinion.

 

[Tuky]

I still think it's going to 1.49. Don't let them "squeeze" you

 

[bbc1183]

for once im willing to get squeezed on this move.... even if it climbs to 1.49 (which i think is an extreme scenario) it will be entirely too overbought at that point and we will get at least some kind of move lower. but i guess we'll find out who's right here in the next couple days.

 

[justtradin]

I will wait to 1.49. Could be abc correction from 1.4760, it needs to finish 3rd wave, and it's bullish above 640

It is concerning when I see ES buy programs in size right after going long USD. My intention is to add if 76 is breached.

 

[Tuky]

for once im willing to get squeezed on this move.... even if it climbs to 1.49 (which i think is an extreme scenario) it will be entirely too overbought at that point and we will get at least some kind of move lower. but i guess we'll find out who's right here in the next couple days.

Not saying I'm right, but extreme scenario is 1.52 or more. USD index can go directly to 72. The market can stay irrational longer then you can stay liquid

 

[bbc1183]

if 1.49 is legitimately breached ill be out.... keeping a core position on short until then and trading around it with small size.

 

[Tuky]

Ok, but never risk more than 3% of your balance.

 

[cpngtw]

Technically, I think 1.49-1.50 is possible with this euro behavior. Also 1.52 is still in striking range. I may be wrong though.

 

[Pippy5000]

The equity markets will correct and take Euro with them.. It will take a long time to make it to 1.52 .. I really don't see it happening before the markets correct.. it's inevitable.. has to happen.

 

[cpngtw]

Maybe a correction, but don't bet your house on this

 

[vinicius]

I have to say that the Italians KNOW how to cook and make a nice wine! I think I will never miss the fish and chips..

 

[Pippy5000]

huh? I thought you were in Thailand

 

[Pippy5000]

fish and chips actually sounds pretty good for dinner tonight..

 

[cpngtw]

hot dogs for lunch, fish & chips for dinner

 

[Pippy5000]

buying Euro at 1.47

 

[Pippy5000]

meh.. I like 1.469 better

selling ninja at 91.55 as well for a big move down.