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Help needed in OANDA + users from Malaysia 105 replies

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  • #14,141
  • Jun 17, 2008 1:42am Jun 17, 2008 1:42am
Quoting moneymagnet
now its dropping. crap

Part of the game man... the most important thing is MINIMIZE LOSS.... we can make another Entry again later and perhaps time to MAXIMIZE profit.

We could be wrong in making such decision this time... but we learn how to take LOSS before it's possibly getting bigger and bigger.

p/s: Becareful with this current bearish PA... could be a BEAR TRAP ... like I said... I am DOING nothing if GREEN news. Waiting for another hour for confirmation.
  • #14,142
  • Jun 17, 2008 1:44am Jun 17, 2008 1:44am
Quoting Malaysia
Part of the game man... the most important thing is MINIMIZE LOSS.... we can make another Entry again later and perhaps time to MAXIMIZE profit.

We could be wrong in making such decision this time... but we learn how to take LOSS before it's possibly getting bigger and bigger.
agreed my friend! will look for another short on a hourly close below 1hr 50ema
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #14,143
  • Jun 17, 2008 1:49am Jun 17, 2008 1:49am
Quoting Chang
Hi Sham, I think most of us here waiting for the news announcement. At least that's what I'm doing !!! Not opened any position yet.
Wise move my friend What I have learnt for today... don't take that BREAKOUT trade if NEWS is near...because the NEWS might change the whole situation and that BREAKOUT could be a FALSE BREAKOUT.
  • #14,144
  • Jun 17, 2008 1:49am Jun 17, 2008 1:49am
Quoting Malaysia
Part of the game man... the most important thing is MINIMIZE LOSS.... we can make another Entry again later and perhaps time to MAXIMIZE profit.

We could be wrong in making such decision this time... but we learn how to take LOSS before it's possibly getting bigger and bigger.

p/s: Becareful with this current bearish PA... could be a BEAR TRAP ... like I said... I am DOING nothing if GREEN news. Waiting for another hour for confirmation.
Decided to short at 1.9633. SL 30 pips and TP 50 pips as first target. Keeping fingers crossed.
  • #14,145
  • Jun 17, 2008 1:49am Jun 17, 2008 1:49am
Quoting moneymagnet
agreed my friend! will look for another short on a hourly close below 1hr 50ema
looks like that spike was stop hunting. i should have known
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #14,146
  • Jun 17, 2008 1:54am Jun 17, 2008 1:54am
Geppy stuck in the middle....Will wait for strong confirmation....
  • #14,147
  • Jun 17, 2008 2:03am Jun 17, 2008 2:03am
Hello every1, im new in forex market. Can any1 tell me y cable went down since 3 of UK news is good?
  • #14,148
  • Jun 17, 2008 2:05am Jun 17, 2008 2:05am
Cable bear just broke the DAILY PIVOT and 1.9600 area... I just took my SHORT.

T.A.Y.O.R.
Attached Image (click to enlarge)
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  • #14,149
  • Jun 17, 2008 2:11am Jun 17, 2008 2:11am
Quoting b1ackmambo
Hello every1, im new in forex market. Can any1 tell me y cable went down since 3 of UK news is good?
Who says the news is GOOD!? The green only means that the data is better is the forecast.
  • #14,150
  • Jun 17, 2008 2:11am Jun 17, 2008 2:11am
Quoting b1ackmambo
Hello every1, im new in forex market. Can any1 tell me y cable went down since 3 of UK news is good?
Perhaps.. PRICED IN already... and too much OVERBOUGHT... it's like the nature of a rubber band... if you stretch it so much.. it will gather more and more momentum to retaliate on the opposite direction.

Plus Many RED NEWS from Euro just came out... causing Buying on the Greenback that strengthening it.

OR... this is just a price correction or a minor retracement before it shall go up HIGHER

As far as my strategy told me... just react upon the PA of breaking or not breaking certain Support or Resistance.

Could be best to stay out from trading for today...because it can be a WHIPSAW day.

Anyway... T.A.Y.O.R.
  • #14,151
  • Jun 17, 2008 2:14am Jun 17, 2008 2:14am
Quoting moneymagnet
looks like that spike was stop hunting. i should have known
I stay out of GEPPY for the time being because UJ still climbing UP
  • #14,152
  • Jun 17, 2008 2:17am Jun 17, 2008 2:17am
Quoting eneloop
Who says the news is GOOD!? The green only means that the data is better is the forecast.



but the news thread there written
Usual Effect Actual > Forecast = Good for currency;
lol..confuse ~_~"
  • #14,153
  • Jun 17, 2008 2:19am Jun 17, 2008 2:19am
Quoting Chang
Decided to short at 1.9633. SL 30 pips and TP 50 pips as first target. Keeping fingers crossed.
You are doing good my friend Did you move SL to BE already?
  • #14,154
  • Jun 17, 2008 2:21am Jun 17, 2008 2:21am
Quoting Malaysia
You are doing good my friend Did you move SL to BE already?
Yes, done that already. Decided to close 1/2 of trade at +50 pips. Letting the 1/2 ride it out. Not much guts today. Might be whiplash day like you said.
  • #14,155
  • Jun 17, 2008 2:22am Jun 17, 2008 2:22am
Quoting Malaysia
Perhaps.. PRICED IN already... and too much OVERBOUGHT... it's like the nature of a rubber band... if you stretch it so much.. it will gather more and more momentum to retaliate on the opposite direction.

Plus Many RED NEWS from Euro just came out... causing Buying on the Greenback that strengthening it.

OR... this is just a price correction or a minor retracement before it shall go up HIGHER

As far as my strategy told me... just react upon the PA of breaking or not breaking certain Support or Resistance.

Could be best to stay out from trading for today...because it can be a WHIPSAW day.

Anyway... T.A.Y.O.R.

Thankss for the advice
  • #14,156
  • Jun 17, 2008 2:22am Jun 17, 2008 2:22am
Quoting Malaysia


As far as my strategy told me... just react upon the PA of breaking or not breaking certain Support or Resistance.
Price Action (PA) is one of the best tool, as indicators which based on past data tends to lag.

Some trade using momentum, for they believe momentum does not lag that much. Just like a car with high momentum would require time to stop, as long as the momentum is there, the price should stand a chance of hanging on.

Of course, if can take in consideration of Supports/Resistance, Pivot and Fibonacci references are even better.
  • #14,157
  • Jun 17, 2008 2:27am Jun 17, 2008 2:27am
Quoting b1ackmambo
but the news thread there written
Usual Effect Actual > Forecast = Good for currency;
lol..confuse ~_~"
The CPI is widely expected to be green anyway because of the rising OIL price and commodity price. Therefore, it could be PRICED IN already prior to the News.

I only concern if the CPI is RED... then I could had SHORTED with BIG lots confidently.

Concentrate on the Price Action... it did shoot up seconds after the released but then FREE FALL after that showing price rejection to go up higher despite of the News... perhaps there's another NEWS that is more important than that. Plus... major profit taking since yesterday LONG.

Consider many FACTORS... not just the NEWS from UK. What about Euro News... US news... the world news.

Talking about this ... Cable still having possibility to go up later since the WEEKLY PIVOT still holding strong as immediate SUPPORT now. Thus, creating WHIPSAW movement if it shoot up back to today's HIGH.

But I am acting upon my deduction of the PRICE ACTION. It's still strong bearish movement on CABLE and I already reacted to that.

T.A.Y.O.R.
  • #14,158
  • Jun 17, 2008 2:31am Jun 17, 2008 2:31am
Quoting Malaysia
Cable bear just broke the DAILY PIVOT and 1.9600 area... I just took my SHORT.
Of course, 1.9600, the border that bear and bull have many battles already.

Wah, GBPUSD just shot up to 1.9600 and down again!
  • #14,159
  • Jun 17, 2008 2:32am Jun 17, 2008 2:32am
5:30pm GBP http://www.forexfactory.com/images/m...mpact_high.gif BOE Inflation Letter

I am sure this is doing much damage to the Pound Sterling now!!! SHORT CABLE SHORT GEPPY!!!!

T.A.Y.O.R!!!
  • #14,160
  • Jun 17, 2008 2:33am Jun 17, 2008 2:33am
Quoting Malaysia
The CPI is widely expected to be green anyway because of the rising OIL price and commodity price. Therefore, it could be PRICED IN already prior to the News.

I only concern if the CPI is RED... then I could had SHORTED with BIG lots confidently.

Concentrate on the Price Action... it did shoot up seconds after the released but then FREE FALL after that showing price rejection to go up higher despite of the News... perhaps there's another NEWS that is more important than that. Plus... major profit taking since yesterday LONG.

Consider many FACTORS... not just the NEWS from UK. What about Euro News... US news... the world news.

Talking about this ... Cable still having possibility to go up later since the WEEKLY PIVOT still holding strong as immediate SUPPORT now. Thus, creating WHIPSAW movement if it shoot up back to today's HIGH.

But I am acting upon my deduction of the PRICE ACTION. It's still strong bearish movement on CABLE and I already reacted to that.

T.A.Y.O.R.

Hmmm...true, need to consider lots of factor. Thank again
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