GBP/USD daily... I see touching the top trend line.... channel line... can EUR and GBP be towards the top for now... ???
- #7,581
- Nov 11, 2007 11:26am Nov 11, 2007 11:26am
- | Commercial User | Joined Jan 2007 | 1,442 Posts
- #7,582
- Nov 11, 2007 11:39am Nov 11, 2007 11:39am
FXDD, ALPARI or METAQUOTES are all open and free. It will take you 2 minutes to download them. It will help temporarily....
thanks mike,
Is anyone else not getting connection with ibfx
I cant get my chart argh!!!
any sugestions...
- #7,583
- Nov 11, 2007 11:43am Nov 11, 2007 11:43am
- | Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
Yes, but ask me if I traded it....
I already cried on Seekings shoulder...
I already cried on Seekings shoulder...I'm a few posts behind...good call Tiki.
- #7,587
- Edited 7:39pm Nov 11, 2007 7:22pm | Edited 7:39pm
- | Joined Feb 2007 | Status: POP FIAT FASCISM | 1,106 Posts
- #7,588
- Nov 12, 2007 1:42am Nov 12, 2007 1:42am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
(the "you" is as in "one" - in general/anyone who would take such a trade, me included ;p)
I couldn't find any feed that would give me Hipster's PB, but looking at price now makes for a great example of some of the price behavior I meant in my last "chasing the lows of the chart" essay.
Price dropped after that PB, yes.
For a handful.
Then what happened? It came back to essentially at least entry levels, if not past it. I.e. if you didn't close out in basically the next 4 hours or moved your stop up to b/e as soon it was out 1-200 pips, you likely went back into red again.
Now in this current environment bounces might be shortlived and weak, but imagine now you didn't move the stop and are seeing it move deeper and deeper into the red by the minute...
Basically what I am trying to say is you end up risking a botched trade if you weren't around to babysit / trail it or if you didn't scalp it for a handful of pips(relatively speaking).
Currently it even looks like it might ponder going past the gap levels again.
Anyhow - my point was: entering at this low woulda been stressful and scalpy, entering around 6-800 pips higher on a daily trade: a loooot less stressful and "chasy".
(post not aiming at rating Hip's trading but to point out what I meant when I talked about the price behavior / chart lows risk. It's all overstretched rubber band stuff at some point
)
I couldn't find any feed that would give me Hipster's PB, but looking at price now makes for a great example of some of the price behavior I meant in my last "chasing the lows of the chart" essay.
Price dropped after that PB, yes.
For a handful.
Then what happened? It came back to essentially at least entry levels, if not past it. I.e. if you didn't close out in basically the next 4 hours or moved your stop up to b/e as soon it was out 1-200 pips, you likely went back into red again.
Now in this current environment bounces might be shortlived and weak, but imagine now you didn't move the stop and are seeing it move deeper and deeper into the red by the minute...
Basically what I am trying to say is you end up risking a botched trade if you weren't around to babysit / trail it or if you didn't scalp it for a handful of pips(relatively speaking).
Currently it even looks like it might ponder going past the gap levels again.
Anyhow - my point was: entering at this low woulda been stressful and scalpy, entering around 6-800 pips higher on a daily trade: a loooot less stressful and "chasy".
(post not aiming at rating Hip's trading but to point out what I meant when I talked about the price behavior / chart lows risk. It's all overstretched rubber band stuff at some point
)
Trust price. Know yourself.
- #7,590
- Nov 12, 2007 1:50am Nov 12, 2007 1:50am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Trust price. Know yourself.
- #7,591
- Nov 12, 2007 1:55am Nov 12, 2007 1:55am
- | Joined Feb 2007 | Status: POP FIAT FASCISM | 1,106 Posts
(the "you" is as in "one" - in general/anyone who would take such a trade, me included ;p)
(post not aiming at rating Hip's trading but to point out what I meant when I talked about the price behavior / chart lows risk. It's all overstretched rubber band stuff at some point
- #7,595
- Nov 12, 2007 8:31am Nov 12, 2007 8:31am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
but hey -who said that weekly charts cant make you money?? i am with open trades on 3 pairs that provided me weekly PB's - USDCAD, GBPUSD and a 2 week EURCAD, which i took with smaller risk than the other 2..
I hope you stay strong enough to trade it according to your plan
Trust price. Know yourself.
- #7,596
- Nov 12, 2007 9:38am Nov 12, 2007 9:38am
- | Joined Feb 2007 | Status: POP FIAT FASCISM | 1,106 Posts
- #7,597
- Nov 12, 2007 10:13am Nov 12, 2007 10:13am
- | Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
- #7,598
- Nov 12, 2007 10:17am Nov 12, 2007 10:17am
- | Joined Feb 2007 | Status: POP FIAT FASCISM | 1,106 Posts
Hey, some of those were my pips !!!
- #7,599
- Nov 12, 2007 10:33am Nov 12, 2007 10:33am
- | Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
Well, if you could spare a few... !!! But make sure you keep enough for the bus fare you lost out on !!!
Would you like a few?