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  • #11,001
  • Jun 11, 2008 1:48am Jun 11, 2008 1:48am
my Target 1.5652. Focus on the 1.5480 level, if we move through this level, then I think we may see further upside
BELIEVE, BE STRONG AND NEVER GIVE UP" Believe, be strong and never give up
  • #11,002
  • Jun 11, 2008 3:45am Jun 11, 2008 3:45am
Hey Guys and Gals,

This spike at this wierd hour can only be the work of the stoploss fairy, stealing from the young and unknowing. Having completed a nice looking bottom at the 5:00 Candle IBFX. I am sure a lot of people packed on thier longs and place their stops beyond that first trendline feeling all warm and cozy only to be drilled by the broker whos only early morning job was to go an get them. The original UTL breach was a news spike which normally does its job and the long continues. In fact, the price comes back up and then tests the trendline and continues on. Ok, we got a nice long going that bounces off of the Daily Pivot which then we would be looking for a retrace back to that UTL and then another shot at that Daily Pivot once again.....WRONG!!!. It comes back and actually bounces off that UTL just like you would be looking for. After that long-legged Doji the first thing someone might do is move his stop up, and I used to do it all the time. The rest is history and a bunch are taken out of the trade as the price moves on up. I am just posting this because I don't want the newby's to fall into the same trap. They are going to get the obvious stops, so you have to be not so obvious. KEEP YOUR STOPS BACK AND KEEP IN MIND, THE BROKER CAN READ THIS STUFF ALSO.

Jim
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  • #11,003
  • Jun 11, 2008 3:56am Jun 11, 2008 3:56am
Quoting B@by trader
looks like you have same problem with me..KG told me the calculation is different tht all.
--------------------------------------------------------------------------cuma formula berbeza.
I think, i understand it a little bit now, The current 4 level is just like a dynamic level, the other one is a static level.. btw congrats for the blow job (that $4.000 profit since monday)
  • #11,004
  • Jun 11, 2008 7:19am Jun 11, 2008 7:19am
go go Euro!
Question is if whether this is yet another move to fake us out or if this one will take us towards the moon. I think its a fakeout - but might go a hundred pips or so
  • #11,005
  • Jun 11, 2008 7:48am Jun 11, 2008 7:48am
Here are a couple of trades I took a few minutes ago - eu and gu.

They are both somewhat speculative, so very tiny lot sizes are involved so they could be allowed to sink many, many pips into dd if need be. Also, my trade management ea will open hedge trades if they go 70 pips off course.

Both involved a bounce off a fib support and the piercing of a weekly resistance, in the direction of what I perceive to be the longer-term trend, for eu at least. Gu might have turned around on daily\weekly charts but the usd is still weak so I am hoping for a few pips.

As I write, the eu long has hit +45 and long ago triggered a breakeven +2, so it cannot turn into a problem, whatever happens. If it can keep going to the weekly pivot, my still-open buy from yesterday at 5584 will start to look a little less ridiculous.

Hope everybody is maing shed-loads of pips. Even better, I hope they are making tiny pips at shed-loads of lots. My methods are not yet sufficiently refined to allow this, so I am a several-hundred-pips-for-not-a-lot guy . I am hoping some of Termanators comments will help me improve and refine things. Time will tell.

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  • #11,006
  • Jun 11, 2008 8:35am Jun 11, 2008 8:35am
My eu long has +32 locked in now. Let's see where this goes next.

  • #11,007
  • Jun 11, 2008 8:48am Jun 11, 2008 8:48am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Yeah I hear you bud. What started out as a scalp trade this morning for me is turning out pretty nice for me. I already banked 2/3 of the original position at the original target and this last one is for fun. It's at +1 and I'm going to see where the day ends up. The Oil announcement earlier is what helped us out a lot and dollar weakness so I'm hoping for a nice run. Ideally I'd love to hold this until Friday for a test of 1.5800 area, which would be nice, but predicting Forex markets is impossible so we'll see.

I'm using the 12 EMA for support Shermenator showed us last night and as long as that's holding today, so am I. Good luck!
"Wishful thinking dies hard." Igor T.
  • #11,008
  • Jun 11, 2008 10:36am Jun 11, 2008 10:36am
today i covered some of my loss yesterday ++95 today from -150
Now i'm hedging don't like it but have to not sure will keep go up or will b silly and drop again.
advice/where put short@ SL or maybe if drop long@SL?
Can someone experience give analysis of current situation

thanks
  • #11,009
  • Jun 11, 2008 10:44am Jun 11, 2008 10:44am
Quoting egkid
today i covered some of my loss yesterday ++95 today from -150
Now i'm hedging don't like it but have to not sure will keep go up or will b silly and drop again.
advice/where put short@ SL or maybe if drop long@SL?
Can someone experience give analysis of current situation

thanks
Bank your profits and go play golf! Wait for your next setup and enter then.
Just digging in the trenches like everyone else!
  • #11,010
  • Edited 11:37am Jun 11, 2008 11:25am | Edited 11:37am
I been loading longs up since it started dropping 1.5575, .5525, .5450, plus a few that never got set 1.5400, .5350.

I'm still looking for the .5700+ level and am content to wait for it. I beleive were still in a bull market and headed north still yet.

I seem to have noticed that the euro seems to retract to at least the 61.8 fib (1.5690ish) barring any news events, so i'm confident we'll touch 1.5700+ (ofc i could be wrong)

Just my humble opinion
  • #11,011
  • Jun 11, 2008 4:28pm Jun 11, 2008 4:28pm
Quoting FxChi
Yeah I hear you bud. What started out as a scalp trade this morning for me is turning out pretty nice for me. I already banked 2/3 of the original position at the original target and this last one is for fun. It's at +1 and I'm going to see where the day ends up. The Oil announcement earlier is what helped us out a lot and dollar weakness so I'm hoping for a nice run. Ideally I'd love to hold this until Friday for a test of 1.5800 area, which would be nice, but predicting Forex markets is impossible so we'll see.

I'm using the 12 EMA for support Shermenator showed us last night and as long as that's holding today, so am I. Good luck!
Fantastic that your scalp turned into a longer-term and even more profitable trade.

I have tried adding all four of Shermanator's ma's to my chart. As I write, they all show signs of heading north, although the 72 has yet to be crossed by any of the shorter ones. Still, north is north when one has a buy outstanding, so north makes me happy.

My long of today stopped out at +32, so a happy result.

Good luck tomorrow. Even better, let's hope your good judgement creates its own good luck.

  • #11,012
  • Jun 11, 2008 5:27pm Jun 11, 2008 5:27pm
Pair went straight to the 200 SMA and stalled. A break of this and the next target is the 89 SMA. MACD is also in the ozone right now.
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  • #11,013
  • Jun 11, 2008 9:33pm Jun 11, 2008 9:33pm
short at 1.5512. Let's see where this takes me
Not all sins are created equal
  • #11,014
  • Jun 11, 2008 10:02pm Jun 11, 2008 10:02pm
Looking bearish....

Yesterdays movement up did not finda any support at all of any of the levels and has now crossed to the bearish....I am now waiting for a rejection of tmy ema or the breack of the low of this swing....

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  • #11,015
  • Jun 11, 2008 10:10pm Jun 11, 2008 10:10pm
1.5472 long target 30 pips will short from that level approx 1.5500
  • #11,016
  • Jun 11, 2008 10:45pm Jun 11, 2008 10:45pm
exit 1.5482 no clear direction
  • #11,017
  • Jun 11, 2008 11:01pm Jun 11, 2008 11:01pm
i say go long on the Euro if it hits 1.5500. thats the last big suppornt line. Well around anyway. im looking at this on the hour. What do u guys think?
  • #11,018
  • Jun 11, 2008 11:36pm Jun 11, 2008 11:36pm
Go EU... Go....


Quoting forexguy
i say go long on the Euro if it hits 1.5500. thats the last big suppornt line. Well around anyway. im looking at this on the hour. What do u guys think?
There is no bad decisions, its only didn't work out.
  • #11,019
  • Jun 12, 2008 12:02am Jun 12, 2008 12:02am
Next stop is 1.5385
Listen for your inside voice
  • #11,020
  • Jun 12, 2008 12:09am Jun 12, 2008 12:09am
Still in on my short @ 1.5512. Locked in a small profit. It may go a bit further down before it starts crawling back on the daily chart.
Not all sins are created equal
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