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"stops'

  • #1
  • First Post: Feb 6, 2008 8:35pm Feb 6, 2008 8:35pm
something that I've always wondered, what does it mean when a "stop" is in place? here is an example: The bounce off of 1.4592 yesterday verifies this level as key support. Stops are eyed below that level and string down to 1.4575.
I've been trading for awhile, but never understood that term.
Jeff
  • #2
  • Feb 6, 2008 9:12pm Feb 6, 2008 9:12pm
It just means what it states. There are stops below that support level and the word "eyed" implies the market may want to dip below to test them out.

Markets love to test out supports/resistances.

The word "stop" is an abbreviation of stop orders both for those who currently are long - stoploss order - and for those who want to get short only when that support is breached - stop sell order -

"....string down to 1.4575"

This means that those stop orders supposedly extend all the way down to 1.4575.
  • #3
  • Feb 6, 2008 9:14pm Feb 6, 2008 9:14pm
yes but in that case, does it mean the stop will be a long entry or short entry? thats where Im confused.

Quoting ItalianSharp
It just means what it states. There are stops below that support level and the word "eyed" implies the market may want to dip below to test them out.

Markets love to test out supports/resistances.
  • #4
  • Feb 6, 2008 9:51pm Feb 6, 2008 9:51pm
Quoting jeffmelvin
Stops are eyed below that level and string down to 1.4575.
Curious who said there were and are we talking about EURUSD ?

These levels line up with lows from 1/24/08 although more important swing lows are down around 1.45xx and 1.44xx.

But in this case stops below the market are more than likely buy stop losses than stops to get short.
  • #5
  • Feb 6, 2008 10:34pm Feb 6, 2008 10:34pm
Quoting SunTrader
Curious who said there were and are we talking about EURUSD ?

These levels line up with lows from 1/24/08 although more important swing lows are down around 1.45xx and 1.44xx.

But in this case stops below the market are more than likely buy stop losses than stops to get short.

hey sun where have u been hiding lol


a td magent saved my butt again today...lol had it on my chart and took my profit b4 the magent repeeled price in the opposite direction

how you doin?
  • #6
  • Feb 7, 2008 6:12am Feb 7, 2008 6:12am
FXCM, and yes the euro.
Quoting SunTrader
Curious who said there were and are we talking about EURUSD ?

These levels line up with lows from 1/24/08 although more important swing lows are down around 1.45xx and 1.44xx.

But in this case stops below the market are more than likely buy stop losses than stops to get short.
  • #7
  • Last Post: Feb 7, 2008 4:33pm Feb 7, 2008 4:33pm
Quoting FXNorm
FXCM, and yes the euro
Is there an echo echo echo here?
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