Dislikedlooks like it will break 5850 watch the sudden surge up.. i have very tight stop loss at 5817
not a single red candle on H1
thats it.. stopped outIgnored
Jacko's Forex House of Pleasure and Pain
- #2,567
- Edited 10:40am Apr 9, 2008 10:15am | Edited 10:40am
- | Joined Jul 2007 | Status: Learner | 1,363 Posts
I have been out of the market for a while and todays move is yet another slap in my face for allowing myself to be swayed by others opinions of the weakness in the Euro. The whole premise of this strategy is to leave your brain at the door and put yourself in the flow of a trend. This trend won't continue forever and it is foolish to guess when it will seriously retrace or change direction. Another reminder for me that trading is 90% mindset and you don't need to know where the market is going to make money.
- #2,576
- Apr 9, 2008 11:57am Apr 9, 2008 11:57am
- Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
- #2,577
- Apr 9, 2008 12:20pm Apr 9, 2008 12:20pm
take it easy on yourself, my chart was set perfect for the long, but for 2 reasons i didn't take it 1. my daughters birthday so not around to see news etc and 2. Jacko's CT trade was still on the cards and this through me off.
your not the only one to miss this, but don't worry, theres always tomorrow. and this may just be a sharp move before the down side emerges. it's long over due, we've had some small waves but not the normal waves that flow gently accross our sceens and make trading easy.
Set your fib's and TL - the news will give us some good moves tomorrow, but only one side will win - who? i don't know, i'm still hoping Raz will find who and get the answer
Just went through the daily charts and I looked for all previous major tops, before they reversed. Interesting enough, two of them reversed before reaching a "target" number.
16.02.2004: did not make it to 1.3000
17.6.2003: did not make it to 1.2000
So, is there a possibility, we won't see 1.6000, before going sharply down?
Only guessing, have no idea what will happen. I know that Jacko is short to medium term bearish, and there seems to be a lot of pressure for $ to strengthen, but you never know with this crazy market.
And Bernake speaks again tomorrow... That alone should produce some 150+ pips... 
- #2,579
- Edited 1:38pm Apr 9, 2008 1:21pm | Edited 1:38pm
- | Joined Jul 2007 | Status: Learner | 1,363 Posts
Hi!
Just went through the daily charts and I looked for all previous major tops, before they reversed. Interesting enough, two of them reversed before reaching a "target" number.
16.02.2004: did not make it to 1.3000
17.6.2003: did not make it to 1.2000
So, is there a possibility, we won't see 1.6000, before going sharply down?
Only guessing, have no idea what will happen. I know that Jacko is short to medium term bearish, and there seems to be a lot of pressure for $ to strengthen, but you never know with this crazy market.
Yes, get your longs on (not a trading advice!) ! Good old Bernake speaks tomorrow !
Zoopy gets excited each time he speaks !Anyway, I have given up trying to guess which way the market will go. And I don't pay too much attention to news either because I believe most of the time the market has already absorbed it by the time we get to hear it. I try to just trade off the charts and follow the path of least resistance. I think if we just stick to the principle of trading with the main trend and buy from dips, we will often be more right than wrong !
Good trading to all !
Bakuli