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  • #14,341
  • Jul 13, 2008 7:01pm Jul 13, 2008 7:01pm
I got stopped at 5900. A run from 5774.

Now, I'll be going long if and when it hits 5900 again
Not all sins are created equal
  • #14,342
  • Jul 13, 2008 7:04pm Jul 13, 2008 7:04pm
Quoting Shadowfx
I agree, I dont forecast anything more than 1 to max 4h

Based upon my current 1H & 4H charts..1.586 is keypoint...
Downside: if current support at 1.589 breaks..1.586 breaks...then next target is 1.576
Upside: if 1.589 holds....next target 1.595..if that breaks..1.6+

Just my 2 cents...

sounds reasonable, so to trade your forecast, you'll sell the break below 1.586, but no indication when you will buy? Guess you're a bear then...
  • #14,343
  • Jul 13, 2008 7:06pm Jul 13, 2008 7:06pm
Quoting Jay Walker
I got stopped at 5900. A run from 5774.

Now, I'll be going long if and when it hits 5900 again

sounds like you had trailing stop?
  • #14,344
  • Jul 13, 2008 7:10pm Jul 13, 2008 7:10pm
Quoting Godzgreatgif
I entered long too at 1.5898. I wanted to enter lower but didn't want to take the risk too. I'm an intraday forex trader. I'm waiting for it to hit 1.5913. I usually am satisfied with 15-20 pip profits when there are no news events. Lets see how the Euro acts. Any1 with inputs with their predictions within the next few hours? That would be a good help.
I think selloff will continue in London session. Another 50 to 60 pips drop easily.
5.00am industrial production m/m medium risk. expecting -.6%. If actual shows below that number then expect 100pips drop top of asian drop.
All my indicators showing bearish. Expecting to see it 1.5700 level within next two days.
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  • #14,345
  • Jul 13, 2008 7:15pm Jul 13, 2008 7:15pm
Quoting Jay Walker
I got stopped at 5900. A run from 5774.

Now, I'll be going long if and when it hits 5900 again
Nice Trade!
  • #14,346
  • Jul 13, 2008 7:16pm Jul 13, 2008 7:16pm
Quoting dragoncat
sounds reasonable, so to trade your forecast, you'll sell the break below 1.586, but no indication when you will buy? Guess you're a bear then...
I'm a big Bear who's gonna get a few hours sleep now...might wake up as a raging Bull when London opens....

If 1.593 breaks...I might be tempted to go long..still short ..with some short sleep ahead...
  • #14,347
  • Jul 13, 2008 7:18pm Jul 13, 2008 7:18pm
Don't think of shorts in very strong Bullish trend.. Just buy the dips and ride it till 1.62-63
  • #14,348
  • Jul 13, 2008 7:28pm Jul 13, 2008 7:28pm
Quoting dragoncat
sounds like you had trailing stop?
My broker is Oanda. No trailing stop.

Some trade without a S/L, I trade without a T/P and keep moving my S/L until it gets hit.
Not all sins are created equal
  • #14,349
  • Jul 13, 2008 7:28pm Jul 13, 2008 7:28pm

Attached Image
  • #14,350
  • Jul 13, 2008 7:29pm Jul 13, 2008 7:29pm
http://www.lolpal.com/files/0qn0g9cy...ug5o_thumb.gif
  • #14,351
  • Jul 13, 2008 7:31pm Jul 13, 2008 7:31pm
Quoting Clouds

Attachment
I like that picture a lot. You have a link to a large version of that? I'll make it my desktop
Not all sins are created equal
  • #14,352
  • Jul 13, 2008 7:35pm Jul 13, 2008 7:35pm
Quoting Jay Walker
I like that picture a lot. You have a link to a large version of that? I'll make it my desktop
No, sorry, found it here, http://www.mspmentor.net/2008/01/22/...s-open-source/ but not sure where they found it
  • #14,353
  • Jul 13, 2008 7:35pm Jul 13, 2008 7:35pm
Quoting Jay Walker
I like that picture a lot. You have a link to a large version of that? I'll make it my desktop

me too..hehe
  • #14,354
  • Jul 13, 2008 7:37pm Jul 13, 2008 7:37pm
Quoting Clouds
No, sorry, found it here, http://www.mspmentor.net/2008/01/22/...s-open-source/ but not sure where they found it
Thanks
Not all sins are created equal
  • #14,355
  • Jul 13, 2008 7:45pm Jul 13, 2008 7:45pm
Quoting atif
I think selloff will continue in London session. Another 50 to 60 pips drop easily.
5.00am industrial production m/m medium risk. expecting -.6%. If actual shows below that number then expect 100pips drop top of asian drop.
All my indicators showing bearish. Expecting to see it 1.5700 level within next two days.
Thanks for your input atif, I just closed out my trade with 14 pip profit with going long from 1.5898 so im happy with that. I'm usually okay with small pip profits than waiting it out weekly or monthly. Thanks for your input again though appreciated.
  • #14,356
  • Jul 13, 2008 7:53pm Jul 13, 2008 7:53pm
The more i look at the charts, and the more i hear the Bull/Bear arguments, the more i am thinking Bulls on the breakout. This range has lasted since March 3rd. Perhaps PPI in a few hours or Tuesday news. Till then, i don't think it won't go much below 5600. Off to catch some zzz's before newstime.
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  • #14,357
  • Jul 13, 2008 8:08pm Jul 13, 2008 8:08pm
Quoting Jay Walker
I got stopped at 5900. A run from 5774.

Now, I'll be going long if and when it hits 5900 again


you are playing with fire. I got lots of Euro to sell you.
  • #14,358
  • Jul 13, 2008 8:10pm Jul 13, 2008 8:10pm
Quoting Srikanth
Don't think of shorts in very strong Bullish trend.. Just buy the dips and ride it till 1.62-63


NO NO NO NO. shorts are the play. They want you going long. to take all your money. Breakouts come on sell sell sell
  • #14,359
  • Jul 13, 2008 8:26pm Jul 13, 2008 8:26pm
Quoting steelhead
NO NO NO NO. shorts are the play. They want you going long. to take all your money. Breakouts come on sell sell sell

Just look at dollar index.. anytime soon it'll break to the downn should take EU to 1.6X level
  • #14,360
  • Jul 13, 2008 8:31pm Jul 13, 2008 8:31pm
Quoting steelhead
you are playing with fire. I got lots of Euro to sell you.
I play with fire every day that I trade. I might always get burned and often have. So how does it differ this time?
Not all sins are created equal
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