Sell Eur/Usd

[FXInvestor]

right now euro at 1.3164 start or the end of dive ? never know but I'd call it thats it I've been out of euro will play safe stay away confusing euro trends until this weekend.

CHOW !!!

[Iris]

Hello Everyone.......

The Market awaits the US Retail Sales data @ 8:30AM EST as the global inflationary outlook made its way into the Market the past few weeks...now the Economic data will cast the 1st important test on how the USDollar will be going forward whether the US Economy has more structural deficiencies or a firming against a hawkish FED outlook on inflation.

Euro Sell Z @ 1.3215<>1.3200<>1.3180

Targeting @ 1.3150<>1.3110<>1.3073<>1.3050<>1.3030

Euro Options @ 1.3200... being protected.

IRIS FX

[pelle64]

Originally Posted by pelle64

Aint this market wonerfull

EUR/USD - retest of resistance 1.3211/29 before any more south

USD/CHF - retest of support 1.2191/58 before any more north

A break of feb EUR/USD high resp USD/CHF mars low is not likely

Take care

EUR/USD - Resistance @ 1.3211 seams to be the top for this time so im south here target 3140/10

USD/CHF - Support @ 1.2191 holds the pressure for now so i go long target 2310/45

PS/ Stoploss - in this case TIGHT 10 pips over last high/low

[FXInvestor]

USD/CHF - Support @ 1.2191 holds the pressure for now so i go long target 2310/45

I am long 1.2170 I use SL rarely I've set it at 1.2130

God bless us all !!!

[pelle64]

USD/CHF - its a chanse for a test of SUPPORT @ 1.2141

EUR/USD - the trade is unvalid so i closed that @ 1.3190 will re-enter again at a breakout or a test of 1.3229

Take care

[turtle2688]

eur/usd on the daily H4 H1 all are clearly pointing to the north why you guys keep on saying it will go south?

Trade what you see on the chart not what you think about the market.

Sorry for my opposite view here I could not help. A lot of opportunities missed by thinking it will go south.

The worst case is this p stuck in the trading range between 1.3060 13260. It may break out soon. The bias is up once it clears 1.3244 -a mid -term trendline (also a short term trendline here at 1.3240). 1.3244 also the Feb.27 top.It may go much higher.


turtle

[mister78]

Any comments on turtle opinion?

Seems that euro is stronly bullish despite the sudden breakdowns in trend. Im short on euro as recommended here so now im trying to figure out what to do.
I think euro will mark a new high 1.3245 then take a rest so to check how strong these suddenbreakdowns we observe in the trend are.
More generally in the long run euro will be getting stronger but there will be a lot of weekly volatility. But i dont have experience knowledge to express my intuition professionaly - its just an intuition so if you know more share.

I need some help on how to manage this short-on-euro position. What are your plans? Keep it close it or some diffrent technique? Thanks.

[Summerset]

Originally Posted by mister78

Any comments on turtle opinion?

Hi Turtle

Always Great to read for you.

As to why short Now ??

I think they are applying the theory of contrary opinion. At least IRIS is (if I may assume so) past readings & posts covering COT datas.

It is actually a very valid theory.

If the whole market is strongly bullish. Everyone will be getting committed to long. Contrary to this the trader shorts because a time will come when almost all traders are committed & tied down to longs. There will be no more additional longs to boost price up. The market by nature can not stay in equilibruim for long. only then the stops of the long comittments will fuel the price tumbling down.

It would be a very sudden move & very profitable too.

Shorting at the very top with tight stops the proffesional is able to catch the lucritive move. He is relatively secured to close at b/e on the normal retractions that happen @ such tops. Or he can stop reverse his position on a breakout such a top.

In all cases he is more than compansated in rewards on the ride down which is he is bound to catch anyway if the trader dlligently keeps at shorting major tops.

U can read all about "theory of contrary opinion" in John Murphy's book - "Technical Analysis of The Financial Markets" - amongst others. It is stated that professional analysts even run regular market surveys covering bull / bear sentiment so that once either rules > 75% of the market the professional can sum that the timing is ripe for a contrary move.