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  • #31,301
  • Sep 17, 2008 9:56am Sep 17, 2008 9:56am
Quoting acumen
I've shown this trade several times on this thread.

It works around 80% of the time.

When this pair heads South and hits a .20 psych level and bounces... it will move to the next psych level the majority of the time.

In our example we moved to .4120 and bounced.

AFTER the bounce...price moved back to .4120 and then immediately to .4100.

Price then moved directly to .4100 and then quickly retraced.

You can see my trades for the morning but the trade I'm talking about is the one circled.

Entered at .20 out at .00.

Mike
......I hope you had go long at 1.4100.
  • #31,302
  • Sep 17, 2008 9:59am Sep 17, 2008 9:59am
Quoting emmyi29
whats the news from russia?
Their stock market was halted two days in a row after consecutive ~12% losses on the broad indices.

Looking up details for you...
  • #31,303
  • Sep 17, 2008 9:59am Sep 17, 2008 9:59am
Quoting BoredToLoose
......I hope you had go long at 1.4100.
Thanks.

I always take profit at a .00 level.

That was a serious bounce.
  • #31,304
  • Sep 17, 2008 10:00am Sep 17, 2008 10:00am
You guys missed this H&S on 1 min until pivot, what you see in macro (1 or 4 h) you can have in 1 min as well, was a nice moneymaker.
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  • #31,305
  • Sep 17, 2008 10:02am Sep 17, 2008 10:02am
Quoting cobraforex
You guys missed this H&S on 1 min until pivot, what you see in macro (1 or 4 h) you can have in 1 min as well, was a nice moneymaker.

prime example ticker, after event
  • #31,306
  • Sep 17, 2008 10:03am Sep 17, 2008 10:03am
Doug,

I know you're trying to learn, as are we all. Since we were talking about psychs, pivots and fibs earlier, take a look at this chart. Price was making a helluva recovery and took a good little bounce off a confluence of (1) 50% fib (today's hi/lo), (2) yesterday's midpoint (4178) and (3) the daily pivot (4175).

If you were scalping, you could have set a sell limit coming into this area and caught 10-15 pips. In scalping, that's about all you're looking for anyway. You would have set a S/L of about same number (probably 15 today).

In today's market I'm not recommending that you be trading at all, but just a tip for what to look for in the future. One important reminder, the more trades you have in the market, the riskier it gets. Except for the master scalper, CobraForex, most people on here (I think) try to get their daily pips in as few trades as possible. Acumen?
Attached Image
Up or down, gimme a ticket
  • #31,307
  • Sep 17, 2008 10:08am Sep 17, 2008 10:08am
I know this is euro thread but the gbp/usd broke up out of the triangle on the 1 hour chart possibly will pull euro up with it and it has broke the r1 at 7988. What do you think ?
  • #31,308
  • Sep 17, 2008 10:08am Sep 17, 2008 10:08am
Quoting FOURX
prime example ticker, after event
I'm scalper and don't read and post during the trades, sorry.
If I anounce all my trades I would have more than 50 post a day.
Beside of that I don't understand this thread as a signal service.
  • #31,309
  • Sep 17, 2008 10:09am Sep 17, 2008 10:09am
Quoting cobraforex
I'm scalper and don't read and post during the trades, sorry.
If I anounce all my trades I would have more than 50 post a day.
Beside of that I don't understand this thread as a signal service.
Up or down, gimme a ticket
  • #31,310
  • Sep 17, 2008 10:11am Sep 17, 2008 10:11am
Quoting cobraforex
I'm scalper and don't read and post during the trades, sorry.
If I anounce all my trades I would have more than 50 post a day.
Beside of that I don't understand this thread as a signal service.
ye ok, ego's
  • #31,311
  • Sep 17, 2008 10:12am Sep 17, 2008 10:12am
WHEW I am out small gain...I'm going to lie down for a while

Knock em dead...
  • #31,312
  • Sep 17, 2008 10:14am Sep 17, 2008 10:14am
Quoting trading801
thanks but surely something more than just a link which doesnt explain much too will be of more help..
Sorry I was away, could not reply earlier.

Here is acumen's website. Hope this helps you understand Pivot points.

www.thefxpivotpoint.com
  • #31,313
  • Sep 17, 2008 10:15am Sep 17, 2008 10:15am
Now support at 1.4127.
I bet almost traders here only enter long at 1.4277, wrong!!!
We must see a volatile reduction for this pair to break down or up.
  • #31,314
  • Sep 17, 2008 10:16am Sep 17, 2008 10:16am
Quoting FOURX
ye ok, ego's
Accepted, BTW on the chart you see when I took the trade and the screenshot (look the candles).
I only posted it as educational, not to show any ego, that's why we are here.
  • #31,315
  • Sep 17, 2008 10:16am Sep 17, 2008 10:16am
Quoting cobraforex
I'm scalper and don't read and post during the trades, sorry.
If I anounce all my trades I would have more than 50 post a day.
Beside of that I don't understand this thread as a signal service.
Some days, that's all you got left... (All scalps but 2 I think were longs, and low leverage)
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On the path to Enrichment.
  • #31,316
  • Sep 17, 2008 10:17am Sep 17, 2008 10:17am
There are fibs and psychs ahead, but the M15 is working on its 5th straight green candle.
Up or down, gimme a ticket
  • #31,317
  • Sep 17, 2008 10:17am Sep 17, 2008 10:17am
Quoting FOURX
prime example ticker, after event
I can see we have another wise ass with 80 posts on the thread.

I'd suggest you go back through the thread and learn instead of running your ill-informed pie hole.

If you are one of Tiki's trolls could you take him away with you?
  • #31,318
  • Sep 17, 2008 10:21am Sep 17, 2008 10:21am
Quoting acumen
I can see we have another wise ass with 80 posts on the thread.

I'd suggest you go back through the thread and learn instead of running your ill-informed pie hole.

If you are one of Tiki's trolls could you take him away with you?

point taken , apoligies to cobra, and all.

had a bad day at work!
  • #31,319
  • Sep 17, 2008 10:24am Sep 17, 2008 10:24am
Quoting acumen
If you are one of Tiki's trolls could you take him away with you?
  • #31,320
  • Sep 17, 2008 10:24am Sep 17, 2008 10:24am
Quoting FOURX
point taken , apoligies to cobra, and all.

had a bad day at work!
This is rough.

Many traders... even the big guys are being battered today.

TiKi - I take back what I said.

WOW.

Pair is taking off.
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