EUR.USD

[Xerof]

Euro looks to have done 5 waves down on 60 min chart.

1.2733, previous support on daily should now contain any corrective rally

Xerof

[peat]

my stop was (still is)at 1.2750
looks like theres some more pips for takin so far this morning...

[slam]

Just closed posstion.
Looks lick a retrace imo.

Cheers
Slam

[slam]

Gone long with a tight stop
Could end up with egg on my face.[:I]
Cheers
Slam

[Xerof]

Arco,

very interesting chart posted on TT by GWD for EUR.USD. Given his track record what do you make of it?

Does fit nicely with his EUR.GBP chart posted a few days ago, calling for major rally in this cross.

Xerof

[peat]

...that sounds very contrarian given the sentiment I'm seeing.
I've taken another short at 1.2626 but this one has a tight stop loss.

[Xerof]

Agree Peat, going against my instincts too, but I have to say he has posted with unnerving accuracy of late and his views can't be totally ignored.

You'd be following martin on GV no doubt who also has a great reputation.

Opposing views are what makes this such a great market - you sleep in the bed you make

Cheers, and I note its a quiet week for data Peat, so a few early nights ahead?

Xerof

[peat]

yeh totally - martin is da man!! heheh

i think u and arco have it sussed too tho....

[Xerof]

you would have read then that there's a large EUR/GBP oda in London market. Seems GBP side is taking all the pressure of it, hence EUR/USD is slightly more resilient this evening

Xerof

[peat]

yeh i read that but didnt take too much notice...
i am kinda expecting some resillience after these drops... but can live with it - prepared to punt that it will evaporate.

note xerof, my mini-lots dont amount to much in the big scheme... i wanna play it like this for sometime before i start ramping up the stakes. too me conservatism will enable my survival in this dangerous game.