euro false breakout! ouchh!!

Discussion in 'Forex' started by PaulRon, Nov 19, 2008.

  1. PaulRon

    PaulRon

    that hurt :mad:
     
  2. nitro

    nitro

    You always have to know who is leading in the dance.
     
  3. Looks like someone fat fingered it and hit the wrong button this morning. Reuters reported it was one buyer that caused the spike. It then cascaded to the other currencies and gold/oil. Whoops. It is a "Ready, fire, aim" market out there.

    "The euro rose to a session high against the dollar in a move analysts said was related to a large buy order for the single currency. The euro rose suddenly to a session high of $1.2790 <EUR=> from around $1.2640. It last traded at $1.2782. "
     
  4. 4XQs

    4XQs

    There was some talk of a few barrier options that got triggered - might have contributed somewhat.
     
  5. clacy

    clacy

    I think they were just hunting my stop.....:p
     
  6. The EURJPY has been fantastically good the last hour, but the EURUSD has not been leading much.

    With the Dow reaching 8000 we are looking at an interesting market - just like at the start of October. There is no bottom in sight any time soon...

    The volatility is loading up quite good again, with strong shakeouts. There have been some sessions the last week and a half with good volatility, but it has been following the equities a bit too much - with intermittent "technical" psycho-babble (which I don't enjoy as trading conditions).


    It will be some interesting Asian sessions towards the end of this week.
     
  7. what charts were you trading off of?. ya good thing i was asleep when that happened or it would have sucked me in too.
     
  8. oraclewizard77

    oraclewizard77 Moderator

    Action # Symbol Price Date C # Price Date
    Drawdwn & Risk
    P/L
    BTO 140 EUR/USD
    1.26418
    11/17/08 11:48
    STC 140
    1.27786

    11/19/08 9:37

    ($9,677)

    Extreme
    $19,152
     
  9. PaulRon

    PaulRon

    i was playing the breakout of the tri and bought on the retest,,, tight stops but still very big positions
     
  10. Um guys,

    I don't know if you noticed this on the 2 min charts, but wed 11/19 was like one BIG MIDDLE FINGER! :D LOOK LOOK!

    I chose to sit that out, and instead I faded the resulting slope. Who was suckered into buying the top?? Haha, I feel soo sorry for you :eek:

    Last week was crazy..
     
    #10     Nov 23, 2008