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  • #28,041
  • Sep 8, 2008 4:06am Sep 8, 2008 4:06am
I see it at 4200 shortly. I may be wrong though.

Edit:I have no position open though.
  • #28,042
  • Sep 8, 2008 4:08am Sep 8, 2008 4:08am
Next support is daily s1 at 4192.
Quoting altrader
I am long for 10pips. And yes I know it looks crazy. As I mentioned before I'm playing around some analysis with both Oil and Gold etc.

1.42404 bought

take profit at 1.42504

Will see what happens. This is a new thing that I'm working on.

It's a pretty stupid idea to pick tops and bottoms I know I know...just trying something out

edit: I think I stuffed this trade up..i will probably bail on it soon.
It's not a stupid idea at all. On storng trends when price runs away a lot on a new move you can pick some pips counter trend as the jump is over for a while, but it's risky and need to be carefully done and you need some confirmation - like a 5m counter trend close (not too large already) and as mentioned - a locally overextended trend is very important. You could use a big distance from a small order ma (I use wma 8) to confirm that, it's also occasionaly good for tracking your sl on 5m-15m charts. I'm not even trying it now cause I got plenty in the green and trend is really strong, don't see the need to try and milk every last pip out of it..
On the path to Enrichment.
  • #28,043
  • Sep 8, 2008 4:08am Sep 8, 2008 4:08am
Future is always diff from prediction.


lets see if will bounce from 4170

Jurrasic
Will be reversal soon its a matter of time dispite any news.
Im not trading eu right now my all positions are green both long and shorts.
  • #28,044
  • Sep 8, 2008 4:12am Sep 8, 2008 4:12am
wou..1.42 retesting...
its just money
  • #28,045
  • Sep 8, 2008 4:14am Sep 8, 2008 4:14am
225 pip turn around from the high in less than 12 hours....my one year experience needs another 0 at the end to be able to handle this....im happy im still above even for the day...lol


Edit: wouldnt it be funny if this was a triple bottom long term...and we see 1.4400 today again....crazy right?..har har har
Different opinions highly valued, ignorant to slander.
  • #28,046
  • Sep 8, 2008 4:17am Sep 8, 2008 4:17am
it would be nice, would be happy with 100-150

go euro go...
its just money
  • #28,047
  • Sep 8, 2008 4:19am Sep 8, 2008 4:19am
Quoting psiholog
225 pip turn around from the high in less than 12 hours....my one year experience needs another 0 at the end to be able to handle this....im happy im still above even for the day...lol
You mean less than 4 hours right ? Huge counter strong trend weekend gap, what could be easier and more fun than this ? Common! I was just waiting for this thing to turn around to ride it. It came close to the hourly channel utl and right back down, very nice. Hope it keeps going like this till 1.4.
On the path to Enrichment.
  • #28,048
  • Sep 8, 2008 4:21am Sep 8, 2008 4:21am
If this thing continues to go down, i can see it reach 1.4019.
OR it just filled the gap and will start going north.
Waiting for some confirmation .
  • #28,049
  • Sep 8, 2008 4:22am Sep 8, 2008 4:22am
Quoting Jurrasic
You mean less than 4 hours right ? Huge counter trend weekend gap, what could be easier and more fun than this ? Common! I was just waiting for this thing to turn around to ride it. It came close to the hourly utl and right back down, very nice. Hope it keeps going like this till 1.4.
i was counting the whole movement from market open......you say 1.4...i say 1.44....the us stock market hasnt even opened yet for it to collapse cause of freddie/fanny....or wait...will it be a backwards gain with super bullish day..hmm
Different opinions highly valued, ignorant to slander.
  • #28,050
  • Sep 8, 2008 4:23am Sep 8, 2008 4:23am
thank God for my life.i started the day with a loss of -160 pips.the gap nearly killed me but now i am more than back.more greens than red.u dont wanna know....................................................
  • #28,051
  • Sep 8, 2008 4:24am Sep 8, 2008 4:24am
1.42 rejected...looks like a reversal,..and opec meeting in wiena, they have oil,..and they want oil to be expansive,...right?
its just money
  • #28,052
  • Sep 8, 2008 4:24am Sep 8, 2008 4:24am
Quoting Jurrasic
Next support is daily s1 at 4192.

It's not a stupid idea at all. On storng trends when price runs away a lot on a new move you can pick some pips counter trend as the jump is over for a while, but it's risky and need to be carefully done and you need some confirmation - like a 5m counter trend close (not too large already) and as mentioned - a locally overextended trend is very important. You could use a big distance from a small order ma (I use wma 8) to confirm that, it's also occasionaly good for tracking your sl on 5m-15m charts. I'm not even trying it now cause I got plenty in the green and trend is really strong, don't see the need to try and milk every last pip out of it..
Thanks for the advice Jurrasic. Yeah this is the kind of thinking I'm trying to figure out. You've given me some great hints there but the core of what you are saying about over extended trends is what I was thinking as well. So essentially I'm working on how to play with counter trends.

I'll take a look at wma 8 and see if I can improve my methods but yeah i sense that the issue I had with this trade is that I lacked confirmation. I would have liked to see a bit of green on my 30min chart before I went long. Oh well, it's all a work in progress. I'm still in the trade at the moment. If it strongly breaks the 4200 level then I'm out.
  • #28,053
  • Sep 8, 2008 4:26am Sep 8, 2008 4:26am
Quoting psiholog
i was counting the whole movement from market open......you say 1.4...i say 1.44....the us stock market hasnt even opened yet for it to collapse cause of freddie/fanny....or wait...will it be a backwards gain with super bullish day..hmm
I don't care, I will not take longs on this thing at this time. Only if a strong trend starts I might scalp parts of it. But I seriously doubt the euro could mount that now, if it's not going to fall it will climb slowly and lazily, can't see it having any more strenght than that for the next couple of days at least.
On the path to Enrichment.
  • #28,054
  • Sep 8, 2008 4:27am Sep 8, 2008 4:27am
Quoting de123
1.42 rejected...looks like a reversal,..and opec meeting in wiena, they have oil,..and they want oil to be expansive,...right?
from a purely technical analysis point...14235 is a strong resistance right now...

wow i just looked at weekly charts....this could go all the way to 1.3905 easily.....
Different opinions highly valued, ignorant to slander.
  • #28,055
  • Sep 8, 2008 4:32am Sep 8, 2008 4:32am
Allright. Yet another time I get the confirmation: PATIENCE is the key.

I dumped position, @1.4381 loosing over 118 pips in process. Should have waited for it to come back.
  • #28,056
  • Sep 8, 2008 4:32am Sep 8, 2008 4:32am
Quoting Jurrasic
I don't care, I will not take longs on this thing at this time. Only if a strong trend starts I might scalp parts of it. But I seriously doubt the euro could mount that now, if it's not going to fall it will climb slowly and lazily, can't see it having any more strenght than that for the next couple of days at least.
im curious...how do you think freddie/fanny news will impact the dollar?
Different opinions highly valued, ignorant to slander.
  • #28,057
  • Sep 8, 2008 4:32am Sep 8, 2008 4:32am
from fundamental and price perspective, 1.4235 is just a piece of cake...IF...
its just money
  • #28,058
  • Sep 8, 2008 4:33am Sep 8, 2008 4:33am
Quoting de123
from fundamental and price perspective, 1.4235 is just a piece of cake...IF...
i had try long at 1.42, why not
  • #28,059
  • Sep 8, 2008 4:34am Sep 8, 2008 4:34am
Quoting psiholog
im curious...how do you think freddie/fanny news will impact the dollar?
And I'm curious why do you talk of these news in future tense ?
On the path to Enrichment.
  • #28,060
  • Sep 8, 2008 4:36am Sep 8, 2008 4:36am
Quoting psiholog
im curious...how do you think freddie/fanny news will impact the dollar?
Long term, it's not really going to help the dollar but it may even worsen the financial crisis. Thanks in part to Mr. "Strong $ Policy" Paulson
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