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  • #5,501
  • Aug 28, 2008 5:43am Aug 28, 2008 5:43am
why isnt gu going down... i wonder why....
  • #5,502
  • Aug 28, 2008 5:53am Aug 28, 2008 5:53am
Quoting xscamx
why isnt gu going down... i wonder why....

Its simply breathing...dont look so much at each movement as each candle develops...look at how the candle closes, as well as to what has been acomplished in that hour such candle formations (keep in mind 1 hour candle formation are not as powerfull).Also look at the candles high and low and close in refrence to previous candles.

And enjoy the trade
  • #5,503
  • Aug 28, 2008 6:08am Aug 28, 2008 6:08am
Looks like mkt is in a range (bet. 1.8325-1.8400) right now.I hope is going to break later on in the day.Same think happened yesterday when was chopping around in London ses. and then went down 100 pips.
Ideal the break would be on the down side beacause up there are some resistance.We probably see a lots of whipsaw for now
Attached Image (click to enlarge)
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  • #5,504
  • Aug 28, 2008 6:30am Aug 28, 2008 6:30am
what is wrong with this currency...... come on gu go down already...
hey shermenator you still in
  • #5,505
  • Aug 28, 2008 6:31am Aug 28, 2008 6:31am
Quoting xscamx
what is wrong with this currency...... come on gu go down already...
hey shermenator you still in

Yep...the market is waiting for gasoline to get added to it.....
  • #5,506
  • Aug 28, 2008 6:34am Aug 28, 2008 6:34am
i will only take a lost if the candle closes above the intraday long.... would you think it good idea shermenator...... this would be a worst case senario..
pls give me some knowledge of this currency trading....
  • #5,507
  • Aug 28, 2008 6:53am Aug 28, 2008 6:53am
Quoting xscamx
i will only take a lost if the candle closes above the intraday long.... would you think it good idea shermenator...... this would be a worst case senario..
pls give me some knowledge of this currency trading....

Take a look at how everything in the market right now is noise...what this means is taking a trade based on the high or low of any candle is a high risk.The market right now is aiming for everyone stops, and making people close and reverse and such....right now I am simply waiting for the market to really begin to pick a direction of such....Right now I am only looking at 2 fibbs the intraday and the fibb counter to it....I am basing my trading decision based on the intraday simply because If I get into price to internally and start making decision with my swing fibb I will be cought in the noise, The market is simply waiting fot the news.

Ask yourself this question how deep of a whole would this trade put you in.
At what price did you come in?

Attached Image (click to enlarge)
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  • #5,508
  • Aug 28, 2008 6:58am Aug 28, 2008 6:58am
Quoting xscamx
i will only take a lost if the candle closes above the intraday long.... would you think it good idea shermenator...... this would be a worst case senario..
pls give me some knowledge of this currency trading....
Also as long as the news does not change the sentiment in the market it can simply be a spike in the market and then continue with its current downtrend...
  • #5,509
  • Aug 28, 2008 7:38am Aug 28, 2008 7:38am
Quoting Shermenator
Also as long as the news does not change the sentiment in the market it can simply be a spike in the market and then continue with its current downtrend...
Nice job, stick to your plan.
  • #5,510
  • Aug 28, 2008 7:39am Aug 28, 2008 7:39am
Quoting Shermenator
Also as long as the news does not change the sentiment in the market it can simply be a spike in the market and then continue with its current downtrend...
So now retracement and lets go short
  • #5,511
  • Aug 28, 2008 7:43am Aug 28, 2008 7:43am
all good dollar news, validates my short @ 355, took profit on the news spike then sold again @45 based on what looks like continuing trend.
  • #5,512
  • Aug 28, 2008 8:13am Aug 28, 2008 8:13am
Quoting prov1813
all good dollar news, validates my short @ 355, took profit on the news spike then sold again @45 based on what looks like continuing trend.
Why it is not going down !!
  • #5,513
  • Aug 28, 2008 8:21am Aug 28, 2008 8:21am
Quoting LFB
Why it is not going down !!
Sentiment in the market has began changin a bitt...even with the bullish news for dollar as well as the bearish news for the gbp...the buyers are holding out their postions making support be found....this is a trading dat that price seems to be finding a bottom in the market....or at least a stall in the previous drops in the previous days...
  • #5,514
  • Aug 28, 2008 8:24am Aug 28, 2008 8:24am
Quoting LFB
Why it is not going down !!
lol, I've learned to always end questions like that with the word "yet", as in,
"why isn't it going down yet ?"

The answer, of course, is "the markets can remain irrational longer than you can remain liquid". So, as Bo says, let price guide, expecting rationality is bias.
  • #5,515
  • Aug 28, 2008 8:25am Aug 28, 2008 8:25am
Cable wants to be a friend of mine in a moment and just change in the next,what can we expect,are we still gonna hold?
  • #5,516
  • Aug 28, 2008 8:25am Aug 28, 2008 8:25am
Quoting LFB
Why it is not going down !!
perhaps hurricane coming ; holiday coming; 1.83 coming ....
  • #5,517
  • Aug 28, 2008 8:40am Aug 28, 2008 8:40am
Quoting katarche
perhaps hurricane coming ; holiday coming; 1.83 coming ....
Hurricane could be a reason!
It happened before.
  • #5,518
  • Aug 28, 2008 8:52am Aug 28, 2008 8:52am
There is strong support level at 1.8300 and oil price is going up.


Keep learning,
  • #5,519
  • Aug 28, 2008 9:17am Aug 28, 2008 9:17am
I have closed my trade with 10 pips.....this was some hard work haha...goodnight guys my eyes hurt lol
  • #5,520
  • Aug 28, 2008 9:39am Aug 28, 2008 9:39am
hey bo and shermenator i would like to ask you a question?? how do you get rid of your emotions during trading......it seems to be my number 1 enemy in trading the forex.... i also think that would also be the number 1 enemy for many new traders.... so could you pls guide me and everybody else who has this problem...pls guide us so that we could be sucessfull traders like you guys.....help us beat this emotion....
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