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  • #401
  • May 29, 2008 9:43pm May 29, 2008 9:43pm
Quoting inforthepips
B Ray,

Took the Euro long for 33 pips ( incredible, your call was right to the pip!) but exited at that point due to 8:30 news coming out. Was that the right move , knowing that GDP figures can move the market signifigantly?
How do you decide when to stay with a trade or exit when news is getting ready to hit?
First off I agree with BRV all the way on the calls he made. The lines I draw below are once I'm in a trade to decide if I should stay in or not. Getting out before a report, I agree with BRV again. If I have a big cushion (50 on the euro, 80-100 on the Gbp) then I am more inclined to "let it ride"

Here's my chart on the Euro last night. Hope it helps
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu052908a.jpg Size: 142 KB
Click to Enlarge Name: eu052908b.jpg Size: 149 KB
Energy and persistence conquer all things! Ben Franklin
  • #402
  • May 29, 2008 9:54pm May 29, 2008 9:54pm
Quoting Iron-man
First off I agree with BRV all the way on the calls he made. The lines I draw below are once I'm in a trade to decide if I should stay in or not. Getting out before a report, I agree with BRV again. If I have a big cushion (50 on the euro, 80-100 on the Gbp) then I am more inclined to "let it ride"

Here's my chart on the Euro last night. Hope it helps
Fine and dandy for last night. What's your take on the EURUSD movement for Friday?
Expected the unexpected
  • #403
  • May 29, 2008 11:23pm May 29, 2008 11:23pm
Quoting scyang
Fine and dandy for last night. What's your take on the EURUSD movement for Friday?
So do you want free signals or do you want to learn how to read the charts.
Right now you and I are looking at the same thing. Based on what I have been teaching you WHAT is your take on the Euro tonight?

First I will let you know what my bank info says. Short the Euro @ 1.5569 with a target of 1.48 SL @ 1.5775

I don't tend to shadow bank entries because I don't have billions of other people's money to play with, but the levels are good to know. There was a similiar entry on the NZD @.7775 where price reacted several times.

Now as far as What I think the Euro will do tonight please see the chart below. In the second chart I will also show an example of a buy and then a reversal from a couple nights ago. Thanks for the challenge! I don't mind.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu052908c.jpg Size: 157 KB
Click to Enlarge Name: eu052908d.jpg Size: 142 KB
Energy and persistence conquer all things! Ben Franklin
  • #404
  • May 29, 2008 11:29pm May 29, 2008 11:29pm
Quoting Iron-man
So do you want free signals or do you want to learn how to read the charts.
Right now you and I are looking at the same thing. Based on what I have been teaching you WHAT is your take on the Euro tonight?

First I will let you know what my bank info says. Short the Euro @ 1.5569 with a target of 1.48 SL @ 1.5775

I don't tend to shadow bank entries because I don't have billions of other people's money to play with, but the levels are good to know. There was a similiar entry on the NZD @.7775 where price reacted several times.

Now as far as What I think the Euro will do tonight please see the chart below. In the second chart I will also show an example of a buy and then a reversal from a couple nights ago. Thanks for the challenge! I don't mind.
Like you, I don't believe anything the bank says. They have been proven wrong too many times and who knows that ulterior motives they have in saying what they say anyway.

Looing at my chart, I believe eurusd has some unfinished business to take care of. It will edge up first and then resume the plunge under 5500.
Expected the unexpected
  • #405
  • May 29, 2008 11:36pm May 29, 2008 11:36pm
Great thread! common sense isn't that common.
FF journal: Peaks and Troffs
  • #406
  • May 30, 2008 12:13am May 30, 2008 12:13am
Quoting scyang
Like you, I don't believe anything the bank says. They have been proven wrong too many times and who knows that ulterior motives they have in saying what they say anyway.

Looing at my chart, I believe eurusd has some unfinished business to take care of. It will edge up first and then resume the plunge under 5500.
I would tend to agree with that. The charts do have that look. But I try not to sell out to one scenario as I have been wrong before. The biggest struggle sometimes is being patience and allowing the market to tell you what it wants to do. Thanks for the feed back. Good stuff!
Energy and persistence conquer all things! Ben Franklin
  • #407
  • May 30, 2008 12:24am May 30, 2008 12:24am
Quoting scyang
Like you, I don't believe anything the bank says. They have been proven wrong too many times and who knows that ulterior motives they have in saying what they say anyway.

Looing at my chart, I believe eurusd has some unfinished business to take care of. It will edge up first and then resume the plunge under 5500.
There is another point your post brings up that I don't want to ignore.

When I gave charts and scenarios it is important to realize these are both breakout trades. What Scyang is actually talking about is the thrid scenario possible in all markets. The range. The beloved inside bar! 1.5485 area is a line that has been support and resistance as well as a pivot on the 1hr(for all you J16 readers) So price could rise and then fall to the area of 15485 and find support there(or somewhere nearby)

Just thought I should cover all the bases. Thanks Scyang!
Energy and persistence conquer all things! Ben Franklin
  • #408
  • May 30, 2008 12:30am May 30, 2008 12:30am
Quoting Iron-man
There is another point your post brings up that I don't want to ignore.

When I gave charts and scenarios it is important to realize these are both breakout trades. What Scyang is actually talking about is the thrid scenario possible in all markets. The range. The beloved inside bar! 1.5485 area is a line that has been support and resistance as well as a pivot on the 1hr(for all you J16 readers) So price could rise and then fall to the area of 15485 and find support there(or somewhere nearby)

Just thought I should cover all the bases. Thanks Scyang!
Thanks for the couragement. I am new so I doubt myself a lot. Good that I see something that experienced ones are seeing too. EURUSD is rising as expected. Let's see what happens next.
Expected the unexpected
  • #409
  • Edited 12:53am May 30, 2008 12:35am | Edited 12:53am
Quoting scyang
Thanks for the couragement. I am new so I doubt myself a lot. Good that I see something that experienced ones are seeing too. EURUSD is rising as expected. Let's see what happens next.
Its going to hit 1.5545/8 support turned resistance and drop about 15-20 or more pips, but could also continue the downtrend. Now that's a freebie .

Scyang it just dropped a little bit but be patient and wait until it hits the above.
  • #410
  • May 30, 2008 12:51am May 30, 2008 12:51am
News due out in 10 minutes could affect the scenario right?
  • #411
  • May 30, 2008 1:02am May 30, 2008 1:02am
Quoting piptornado
News due out in 10 minutes could affect the scenario right?
You betcha, just hit the handle and so much for a trade I'm getting some sleep. Be back in a few.

And to my German friends, Wenn Sie möchten besser Einzelhandel Nummern, die Sie brauchen, um mehr Stoff kaufen.

I dont speak German I just used Google Translate so if it sucks blame them. They're based in California you might have heard of them.

Wow. Tired. Gotta go.
  • #412
  • May 30, 2008 1:14am May 30, 2008 1:14am
Quoting BillyRayValentine
You betcha, just hit the handle and so much for a trade I'm getting some sleep. Be back in a few.

And to my German friends, Wenn Sie möchten besser Einzelhandel Nummern, die Sie brauchen, um mehr Stoff kaufen.

I dont speak German I just used Google Translate so if it sucks blame them. They're based in California you might have heard of them.

Wow. Tired. Gotta go.
i guess they have to buy more stuff to get better numbers
  • #413
  • May 30, 2008 1:38am May 30, 2008 1:38am
Quoting piptornado
i guess they have to buy more stuff to get better numbers

11:00pm EURhttp://www.forexfactory.com/images/m...act_medium.gifGerman Retail Sales m/m
http://www.forexfactory.com/images/m...etail_star.gif -1.7%
0.6%-2.2%http://www.forexfactory.com/images/m...us_revised.gif


Now we get a big fat channel. To quote Charlie Brown, "...ARRRRRGH!".
Energy and persistence conquer all things! Ben Franklin
  • #414
  • May 30, 2008 1:42am May 30, 2008 1:42am
Quoting Iron-man
11:00pm EURhttp://www.forexfactory.com/images/m...act_medium.gifGerman Retail Sales m/m
http://www.forexfactory.com/images/m...etail_star.gif -1.7%
0.6%-2.2%http://www.forexfactory.com/images/m...us_revised.gif


Now we get a big fat channel. To quote Charlie Brown, "...ARRRRRGH!".
let's hope for a break of the 1482 area down to 1450.
  • #415
  • May 30, 2008 1:42am May 30, 2008 1:42am
German number messed up my plan. Argh! Can't the Germans just get their act together?
Expected the unexpected
  • #416
  • May 30, 2008 2:17am May 30, 2008 2:17am
Hi FF, I made another document of lines that could be important on the eur/usd at least 2 of them have been mentioned already, BillyRayValentine, Iron-man, or anyone else see similar lines?

Thanks again,
bigplans47
Attached File(s)
File Type: doc eurolevel5.30.doc   83 KB | 647 downloads
  • #417
  • May 30, 2008 2:58am May 30, 2008 2:58am
Hi Bigplans, if you right click on your chart and click on save as picture (4th from bottom) you can attach it directly, here,s my chart, but I am no expert, I will leave that to BRV et al.

Good luck
Attached Image (click to enlarge)
Click to Enlarge Name: euro1h 30 may.gif Size: 12 KB
  • #418
  • May 30, 2008 3:34am May 30, 2008 3:34am
Quoting bigplans47
Hi FF, I made another document of lines that could be important on the eur/usd at least 2 of them have been mentioned already, BillyRayValentine, Iron-man, or anyone else see similar lines?

Thanks again,
bigplans47
This was the one that caught my attention today. Price has bounced to the downside twice already and has closed below it on the 1 hr.

One thing to remember, there really isn't a support or resistance line. There is an area of support or resistance. For one thing different brokers equal different bars(though they should be close) Having said that we draw lines. Just something to be aware of. What you have posted so far looks good. Keep it up!

Also if you save your picture of your charts to your desktop (or wherever you normally do it. Desktop is what I do) Then when you post there is a paperclip on the upper toolbar of the editor where you write your posts. It will allow you to upload your attachments. Beware the pop up blocker. It will thwart your efforts!
Energy and persistence conquer all things! Ben Franklin
  • #419
  • May 30, 2008 3:38am May 30, 2008 3:38am
Thanks Paj, but when I do that I get a gif file that I can only preview with the memory hog adobe and the preview is very blurry. Do you know how to make the screen shot a jpeg (so I can easily crop it in picasa2)?

Thanks,
bigplans47

-also has anyone taken the trade from the break of 15484? Its seems like a good solid break.
  • #420
  • May 30, 2008 3:45am May 30, 2008 3:45am
Quoting bigplans47
Thanks Paj, but when I do that I get a gif file that I can only preview with the memory hog adobe and the preview is very blurry. Do you know how to make the screen shot a jpeg (so I can easily crop it in picasa2)?

Thanks,
bigplans47

-also has anyone taken the trade from the break of 15484? Its seems like a good solid break.
i went short from 15480. had a feeling so I protected 10 pips with a stop, and price came back and knocked me out with my 10 pips.
I went back short at 15479> let's see how it plays out.
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