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  • #9,641
  • May 21, 2008 6:39pm May 21, 2008 6:39pm
Got ya. I had 2 separate shorts running today and closed both of them for a total of -83 pip loss. I still feel its going to go down also for a little bit.
  • #9,642
  • May 21, 2008 6:54pm May 21, 2008 6:54pm
Quoting Donyouth4eva
Got ya. I had 2 separate shorts running today and closed both of them for a total of -83 pip loss. I still feel its going to go down also for a little bit.
I find that Tokyo is notorious for finding weak longs (so to speak), hence the opportunity to short.
  • #9,643
  • May 21, 2008 7:03pm May 21, 2008 7:03pm
I am back in this one with two entry orders placed above good resistance and large round # at 1.5805. EU has broken every trend line I can draw on the 60M charts. Two concerns are 1) overbought hourlies (RSI is already near 70) and the Japanese session reversing the trend. I'll hold this one open until either a) the nice consolidation pattern is broken or b) a clear break to the downside.

I think this one will either result in a no trade or easily hit my first limit.

See my charts here:
http://piphut.com/2008/05/free-forex...pole-breakout/
"A goal without a plan is just a wish."
  • #9,644
  • May 21, 2008 7:07pm May 21, 2008 7:07pm
Looks like all of Europe is closed Thursday, so there is no Franky or London session today. Am I right?
Expected the unexpected
  • #9,645
  • May 21, 2008 7:12pm May 21, 2008 7:12pm
Quoting de123
i think igrok made more then jacko......very similar method ,...
Jacko trades 200 standards lots per trade over 4 brokers, that's big...
  • #9,646
  • May 21, 2008 10:58pm May 21, 2008 10:58pm
Quoting norrismp
I am back in this one with two entry orders placed above good resistance and large round # at 1.5805. EU has broken every trend line I can draw on the 60M charts. Two concerns are 1) overbought hourlies (RSI is already near 70) and the Japanese session reversing the trend. I'll hold this one open until either a) the nice consolidation pattern is broken or b) a clear break to the downside.

I think this one will either result in a no trade or easily hit my first limit.
No trade. Break downwards negates my signal. Looking to buy dips instead...
"A goal without a plan is just a wish."
  • #9,647
  • May 21, 2008 11:11pm May 21, 2008 11:11pm
going short is like a suicide at this point
  • #9,648
  • May 21, 2008 11:15pm May 21, 2008 11:15pm
Quoting Bicala
going short is like a suicide at this point
sorry for my newbie question.. could you explain why going short is like a suicide?
  • #9,649
  • May 21, 2008 11:23pm May 21, 2008 11:23pm
Quoting GreenPipz
sorry for my newbie question.. could you explain why going short is like a suicide?
isn't that obvious, trend is up. It is like collecting money on a land full of mines.
  • #9,650
  • May 21, 2008 11:40pm May 21, 2008 11:40pm
Quoting Bicala
isn't that obvious, trend is up. It is like collecting money on a land full of mines.
It's not too bad of a play. Retracements can be around 50 pips.
  • #9,651
  • May 21, 2008 11:46pm May 21, 2008 11:46pm
Quoting Bicala
isn't that obvious, trend is up. It is like collecting money on a land full of mines.
Consider this, there were around 165 bearish days this last year, and about 200 bullish days. Gotta see where london takes this later.
  • #9,652
  • May 22, 2008 12:04am May 22, 2008 12:04am
Quoting Clouds
Consider this, there were around 165 bearish days this last year, and about 200 bullish days. Gotta see where london takes this later.
Maybe a day and a half away from 160 again - then time for another nice short depending on the news.
History is written by the victors.
  • #9,653
  • May 22, 2008 12:11am May 22, 2008 12:11am
Price action tells me to go long. Beware everyone that is shorting.
  • #9,654
  • May 22, 2008 12:12am May 22, 2008 12:12am
Quoting Money-RX
Maybe a day and a half away from 160 again - then time for another nice short depending on the news.
Yes, maybe , but gotta be careful that we aren't in still range mode.
  • #9,655
  • May 22, 2008 12:31am May 22, 2008 12:31am
Quoting adriaani
Price action tells me to go long. Beware everyone that is shorting.
Go EUR!! GO
  • #9,656
  • May 22, 2008 12:51am May 22, 2008 12:51am
just go with the trend (by the way you can find this valuable info anywhere)
  • #9,657
  • May 22, 2008 1:27am May 22, 2008 1:27am
i am moving my sl to +1 @1.5768
  • #9,658
  • May 22, 2008 1:28am May 22, 2008 1:28am
Quoting adriaani
i am moving my sl to +1 @1.5768
That's awfully close to the current price. Not afraid of small retracement? If you are sitting on a pile of green pips, then you are not afraid.
Expected the unexpected
  • #9,659
  • May 22, 2008 1:29am May 22, 2008 1:29am
Quoting adriaani
i am moving my sl to +1 @1.5768
That is to close any stupid fluctuation might hit that, it will go north, but it is hard to know when will it exactly start, this might not be the one.
  • #9,660
  • May 22, 2008 1:46am May 22, 2008 1:46am
Quoting scyang
That's awfully close to the current price. Not afraid of small retracement? If you are sitting on a pile of green pips, then you are not afraid.
I am still in, and i don't want to go into drawdown. I am waiting for a break of 1.58
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