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  • #13,661
  • Jul 9, 2008 1:59am Jul 9, 2008 1:59am
Quoting Clouds
but it failed bottom side same amount of times. and actually i predict it to stay around 5710-5690, and then break up to 6200-and above. but that's just my prediction.

Sure i repect your prediction much of the time i'm in agreeance with you. But not this time. That is if it retreats to 1.5660 again then to me that's bearish very bearish because that means it failed topside so shorts are in play....If or until it fails at the bottom then longs are in play....anyway it will be intersting.
  • #13,662
  • Jul 9, 2008 2:03am Jul 9, 2008 2:03am
hey guys where can I watch the speech of trichet?
  • #13,663
  • Jul 9, 2008 2:11am Jul 9, 2008 2:11am
its on bloomberg now
  • #13,664
  • Jul 9, 2008 2:11am Jul 9, 2008 2:11am
it will break up again..
Money often costs too much...
  • #13,665
  • Jul 9, 2008 2:12am Jul 9, 2008 2:12am
Quoting bksujal
hey guys where can I watch the speech of trichet?
http://www.bloomberg.com/avp/avp.htm?clipSRC=LiveBTV
My English is Bad... Sorry Mi Espaņol es Bueno
  • #13,666
  • Jul 9, 2008 2:13am Jul 9, 2008 2:13am
Quoting lifeismine
its on bloomberg now
thanks
  • #13,667
  • Jul 9, 2008 2:21am Jul 9, 2008 2:21am
i do not like these tight ranges....
  • #13,668
  • Jul 9, 2008 2:34am Jul 9, 2008 2:34am
it's heading one way at the moment and no sign of turning back yet..

have to see if it finds support at 1.5660
  • #13,669
  • Jul 9, 2008 2:39am Jul 9, 2008 2:39am
For anybody who is thinking about buying at the bottom of the triangle i suggest you consider....

Support is made to be broken. Resistance is made to be broken.

If you just buy at these levels (support and resistance) without a system in place that confirms your theory then your playing a losing game.

Another way to say it is if you see price approaching your support/resistance level you should have a system in place to confirm that it will reverse or continue at those levels.

So as price continues to fall toward the bottom of the range around 1.5660 do you have a system in place that confirms to you that this is indeed The place where it will reverse???
  • #13,670
  • Jul 9, 2008 2:39am Jul 9, 2008 2:39am
just missed the daily pivot
  • #13,671
  • Jul 9, 2008 2:41am Jul 9, 2008 2:41am
Quoting pipmac
For anybody who is thinking about buying at the bottom of the triangle i give i thing to consider....

Support is made to be broken. Resistance is made to be broken.

If you just buy at these levels (support and resistance) without a system in place that confirms your theory then your playing a losing game.

Another way to say it is if you see price approaching your support/resistance level you should have a system in place to confirm that it will reverse or continue at those levels.

So as price continues to fall toward the bottom of the range around 1.5660 do you have a system in place that confirms to you that this is indeed The place where it will reverse???
Its all about R/R. Everyone buys at support and resistance, the beauty is that you can place your SL close and your TP at a certain point. Why don't you share your system? Different strokes for different folks. If your system works for you, that's great, but keep in mind not everyone thinks like you do, or uses same system like you, yet many people still trade forex successfully.
  • #13,672
  • Jul 9, 2008 2:42am Jul 9, 2008 2:42am
I don't know if it will reverse at that level or not....I am already short and watching my indicators.

If my indicators tell me to exit around that level then i will.

It's pretty likely it will find support around 1.5660 but it may or may not be only temporary. Your indicators should be able to give you warning signs. gl
  • #13,673
  • Jul 9, 2008 2:45am Jul 9, 2008 2:45am
Quoting Clouds
Its all about R/R. Everyone buys at support and resistance, the beauty is that you can place your SL close and your TP at a certain point. Why don't you share your system? Different strokes for different folks.
I can post my reasons for staying short as price keeps ticking.

Edit....acually i'm long USD/CHF its pretty much the same thing cept i liked the setup better.
  • #13,674
  • Jul 9, 2008 2:47am Jul 9, 2008 2:47am
Quoting pipmac
I can post my reasons for staying short as price keeps ticking.

Edit....acually i'm long USD/CHF its pretty much the same thing cept i liked the setup better.
Post your reasons. that's good for you. but nobody knows if it's going to go up or down, we just all have educated guesses. R/R saves us from losing it all.
  • #13,675
  • Jul 9, 2008 2:49am Jul 9, 2008 2:49am
Quoting pipmac
Your indicators should be able to give you warning signs. gl
I do not use indicators. But if they work for you, great.
  • #13,676
  • Jul 9, 2008 2:51am Jul 9, 2008 2:51am
Quoting Clouds
Post your reasons. that's good for you. but nobody knows if it's going to go up or down, we just all have educated guesses. R/R saves us from losing it all.
I agree but it's not all about money management.

MOney management will keep you from losing it all i agree....

But who just wants to keep what they have....

We in this business to make money not to keep what we have....
  • #13,677
  • Jul 9, 2008 2:53am Jul 9, 2008 2:53am
Quoting pipmac
I agree but it's not all about money management.

MOney management will keep you from losing it all i agree....

But who just wants to keep what they have....

We in this business to make money not to keep what we have....
money management will also make you money, say you risk 13 pips for 50 pips, that's a system.
  • #13,678
  • Jul 9, 2008 2:58am Jul 9, 2008 2:58am
Quoting Clouds
money management will also make you money, say you risk 13 pips for 50 pips, that's a system.
Sure i guess your right...You need to do what works for you and stick to it.
  • #13,679
  • Jul 9, 2008 2:59am Jul 9, 2008 2:59am
Quoting pipmac
For anybody who is thinking about buying at the bottom of the triangle i suggest you consider....

Support is made to be broken. Resistance is made to be broken.

If you just buy at these levels (support and resistance) without a system in place that confirms your theory then your playing a losing game.
yes, as i always say, records are made to be broken... haha..
and there's no sign of turning back near 1.5660 yet! I'm not happy because I'm long 1.5655! break even SL @ 1.5643...
  • #13,680
  • Jul 9, 2008 3:01am Jul 9, 2008 3:01am
Quoting dragoncat
yes, as i always say, records are made to be broken... haha..
and there's no sign of turning back near 1.5660 yet! I'm not happy because I'm long 1.5655! break even SL @ 1.5643...

Why don't you cover? And wait for another long signal?

Edit: As the saying gos never let a winning trade turn into a losing one.
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