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  • #14,481
  • Jul 14, 2008 9:25am Jul 14, 2008 9:25am
Nice long calls though lol. 100+ pips down since open. Me likey being up 100 pips when most are going the other way.
  • #14,482
  • Jul 14, 2008 9:25am Jul 14, 2008 9:25am
Quoting Shadowfx
Impressive...40 pips in 15min...1.59 will be a tough cookie to crack..retracing now, not a clear break yet imo..don't cheer to early bulls....EUR still down 80 pips for the day...I'm neutral now, will enter long as a hedge on my short upon signals for a clear break...

FX..if only all women could be always as volatile and passionate...
Don't be surprised if we see 1.6 within 8 hours or less.

Oil is shooting up already.
  • #14,483
  • Jul 14, 2008 9:29am Jul 14, 2008 9:29am
i stuffed up today...i think i'll break even but that's about it...bah...
  • #14,484
  • Jul 14, 2008 9:31am Jul 14, 2008 9:31am
I've unhedged my positions already and entered another long at 1.5898, good luck everybody..

what i mean is, i believe the uptrend have resumed..
  • #14,485
  • Jul 14, 2008 9:32am Jul 14, 2008 9:32am
Quoting altrader
i stuffed up today...i think i'll break even but that's about it...bah...
i know how you feel, im short with BE stop, i could do without these daily candles with long wicks
  • #14,486
  • Jul 14, 2008 9:34am Jul 14, 2008 9:34am
Quoting Clouds
i know how you feel, im short with BE stop, i could do without these daily candles with long wicks
damn this crap
  • #14,487
  • Jul 14, 2008 9:37am Jul 14, 2008 9:37am
Quoting Clouds
i know how you feel, im short with BE stop, i could do without these daily candles with long wicks
This is where experience comes into play.
  • #14,488
  • Jul 14, 2008 9:41am Jul 14, 2008 9:41am
Falling wedge on 30min chart that ive posted before playoud out nice and euro is rising
  • #14,489
  • Jul 14, 2008 9:42am Jul 14, 2008 9:42am
Quoting uncleforex
This is where experience comes into play.
my scalping method did not work very well today because it just felt too tight. I like to grab a few pips here and there but it kept running into resistance either bullish or bearish.

Earlier today I was up 77 pips...I was foolish to continue trading....I should have cut my losses and would have finished up +37pips for the day.

Now I am finishing my day at -8 pips

Oh well...Live and learn. I should have exited the two trades i went negative at -20pips but instead I let those losses ride thinking that it would turn around, but it didn't.
  • #14,490
  • Jul 14, 2008 9:44am Jul 14, 2008 9:44am
Quoting uncleforex
This is where experience comes into play.
confidence can be a good thing and a bad thing, careful
  • #14,491
  • Jul 14, 2008 9:52am Jul 14, 2008 9:52am
Quoting Clouds
confidence can be a good thing and a bad thing, careful

The bottom line is that shorts can make pips while longs are harping about being long and vice versa. Silly for anyone to think their way is the only way.
  • #14,492
  • Jul 14, 2008 9:54am Jul 14, 2008 9:54am
Quoting Clouds
confidence can be a good thing and a bad thing, careful
True, but even on saturday morning, I kinda knew e/u would go lower first, before heading higher.

That was my game plan.

And it turned out pretty quite good.
  • #14,493
  • Jul 14, 2008 9:56am Jul 14, 2008 9:56am
Quoting AllDayIrish
The bottom line is that shorts can make pips while longs are harping about being long and vice versa. Silly for anyone to think their way is the only way.
Yes I agree.

That is why I told those who had shorts to close them a couple of hours ago.

Not sure that Dubai guy listened though.
  • #14,494
  • Jul 14, 2008 10:01am Jul 14, 2008 10:01am
Persistence can beat resistance...true...however this was 4th attempt now to break 1.59 today since London session open and the drop earlier tonight

1.6+ ...Wishful thinking..hmm...its stuff and very risky to enter long currently...IMO..well I'm not convinced...but that's just me and my experience......if it does...well done for the persistent Bulls..
  • #14,495
  • Jul 14, 2008 10:07am Jul 14, 2008 10:07am
seeing that EUR/USD is so high now , and not taking the risk of shorting EUR/USD. I'm shorting EUR/TRY, even if it's wrong , I'm still getting paid SWAP !! (5 pips per day )
  • #14,496
  • Jul 14, 2008 10:18am Jul 14, 2008 10:18am
Still high, is worth 1.57 this month.
aop
  • #14,497
  • Jul 14, 2008 10:23am Jul 14, 2008 10:23am
Possible double top at 5915
  • #14,498
  • Jul 14, 2008 10:28am Jul 14, 2008 10:28am
Quoting Clouds
Possible double top at 5915
For newbees who dont know what a double top is:

A double top occurs when prices form two distinct peaks on a chart. A double top is only complete, however, when prices decline below the lowest low - the "valley floor" - of the pattern.
The double top is a reversal pattern of an upward trend in a stock's price. The double top marks an uptrend in the process of becoming a downtrend.

Sometimes called an "M" formation because of the pattern it creates on the chart, the double top is one of the most frequently seen and common of the patterns. Because they seem to be so easy to identify, the double top should be approached with caution by the investor.

According to Schabacker, the double top is a "much misunderstood formation." Many investors assume that, because the double top is such a common pattern, it is consistently reliable. This is not the case. Schabacker estimates that probably not more than a third of them signal reversal and that most patterns which an investor might call a double top are not in fact that formation.2 Bulkowski estimates the double top has a failure rate of 65%. If an investor waits for the breakout, however, the failure rate declines to 17%.
  • #14,499
  • Jul 14, 2008 10:32am Jul 14, 2008 10:32am
thank you for explaining this to us
  • #14,500
  • Jul 14, 2008 10:32am Jul 14, 2008 10:32am
Possible triple bottom(or double if you prefer) at 1.5350 HEH Just trying to cause problems.
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