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  • #37,701
  • Oct 7, 2008 6:22pm Oct 7, 2008 6:22pm
Some Beautiful ranges going on today..
USD Est Non Mortuus
  • #37,702
  • Oct 7, 2008 6:28pm Oct 7, 2008 6:28pm
Quoting T.s.
exit wait for bounce then ????? hmmmm When to pull the trigger?
something i've learned is to never enter a trade at at the half hour or hour mark. For example, at the moment where I live it is 9:27am I would not be entering a trade now because then at 9:30am a new candle is made and often it reverses direction lol. Same situation when it is 9:58am, don't enter a trade...wait a little after and scale in.
  • #37,703
  • Oct 7, 2008 6:29pm Oct 7, 2008 6:29pm
this is fun...okay now i am flat...whew
T.S.
  • #37,704
  • Oct 7, 2008 6:30pm Oct 7, 2008 6:30pm
Quoting psiholog
well i am currently long at 1.3570...take profit at 1.3620 and 40pip stop loss...lets see where it goes......debate is not for another hour and 40minutes

Edit: as i always say...DO NOT follow my decisions blindly...especially when the trend is DOWN
so you think this could be a false retrace from the TL?
just made first 1/3 profit 40 pips. moved SL@BE for the 2/3.
  • #37,705
  • Oct 7, 2008 6:33pm Oct 7, 2008 6:33pm
Quoting eraserhead
so you think this could be a false retrace from the TL?
just made first 1/3 profit 40 pips. moved SL@BE for the 2/3.
i have no bias right now..the market "sentiment" has been neutral for the past 2 days even though trend is down. i entered simply based on my strategy combining fibs with strong psychological support and the fundamental fact of what is about to come. in other words instead of this trade being 50/50 it is 51/49 in my favor but 49 is still a large number....you do what you think is right.
Different opinions highly valued, ignorant to slander.
  • #37,706
  • Oct 7, 2008 6:35pm Oct 7, 2008 6:35pm
Quoting T.s.
does anyone see 1.3555as support??? is the sentiment this pair should attain this? Again?
nice one..
FUBAR...
  • #37,707
  • Oct 7, 2008 6:38pm Oct 7, 2008 6:38pm
The dollar is maintaining a strong position against any guesses , how long will it remain like that?
  • #37,708
  • Oct 7, 2008 6:38pm Oct 7, 2008 6:38pm
Quoting psiholog
i have no bias right now..the market "sentiment" has been neutral for the past 2 days even though trend is down. i entered simply based on my strategy combining fibs with strong psychological support and the fundamental fact of what is about to come. in other words instead of this trade being 50/50 it is 51/49 in my favor but 49 is still a large number....you do what you think is right.
I understand it no problem I have studied that when a TL is tested many times become very strong and pullback from it are stronger and stronger, but when a strong TL is broken the breakout could be stronger as well. Now it is strange that this happen in these night (europe) hours...just learning, I'm newbie.
  • #37,709
  • Oct 7, 2008 6:38pm Oct 7, 2008 6:38pm
Quoting ak4x
nice one..

Thank you...so does this mean we go long from here??? real question..?
T.S.
  • #37,710
  • Oct 7, 2008 6:42pm Oct 7, 2008 6:42pm
Quoting T.s.
Thank you...so does this mean we go long from here??? real question..?
1.3520???
  • #37,711
  • Oct 7, 2008 6:43pm Oct 7, 2008 6:43pm
Quoting eraserhead
I understand it no problem I have studied that when a TL is tested many times become very strong and pullback from it are stronger and stronger, but when a strong TL is broken the breakout could be stronger as well. Now it is strange that this happen in these night (europe) hours...just learning, I'm newbie.
your analysis is perfect!...i fully agree with it which is why if 1.3556 gets broken decisively we may see a new low later today...as far as the hours go....i dont think this pair keeps time anymore....the global crisis makes sure of that
Different opinions highly valued, ignorant to slander.
  • #37,712
  • Oct 7, 2008 6:43pm Oct 7, 2008 6:43pm
Quoting Marcuse
The dollar is maintaining a strong position against any guesses , how long will it remain like that?
A $700 Billion Band Aid was passed. And that's exactly what it is, a Band Aid. The analogy fits perfectly because tots use too many of them and grown ups put one on only when it hurts like hell.

But what's underneath a Band Aid can get infected if it's not treated. That's what will happen if the root problem in this economy isn't fixed. Band Aids can also get dirty and fall off. That's when a Band Aid is spent.

So Marcuse, the short answer to your question is that the dollar will remain like that until the Band Aid is spent.
Not all sins are created equal
  • #37,713
  • Oct 7, 2008 6:45pm Oct 7, 2008 6:45pm
Quoting PipGal
Thanks so much. And the prices are all based on GMT, right?
The answer is that it depends which does confound the issue. I think GMT is probably standard, but I have seen others use a market open, depending on the pair that they trade, as the start of the day. Maybe others here have a different perspective.
  • #37,714
  • Oct 7, 2008 6:46pm Oct 7, 2008 6:46pm
Quoting T.s.
Thank you...so does this mean we go long from here??? real question..?
Well, speaking for myself only, I wouldn't cuz I rarely go counter trend... The very few exceptions to that rule I've made lately have been mostly crummy, the ones that were profit weren't worth the effort.

That's trading. But if I kept it up, i"d probably have to call it "donating"...

Currently short EJ and GY and most recent EJ trade is 100 pips and dropping, The 4h TL is busted, indi's are pointing down, so no I wouldn't go long the euro for anything....

Better to see a trade I wish I was in, than wish I wasn't in the one I was...
FUBAR...
  • #37,715
  • Oct 7, 2008 6:48pm Oct 7, 2008 6:48pm
Quoting psiholog
your analysis is perfect!...i fully agree with it which is why if 1.3556 gets broken decisively we may see a new low later today...as far as the hours go....i dont think this pair keeps time anymore....the global crisis makes sure of that
Is that the 61.8 fibs from the last low to the last high?
  • #37,716
  • Oct 7, 2008 6:50pm Oct 7, 2008 6:50pm
Quoting ak4x
Well, speaking for myself only, I wouldn't cuz I rarely go counter trend... The very few exceptions to that rule I've made lately have been mostly crummy, the ones that were profit weren't worth the effort.

That's trading. But if I kept it up, i"d probably have to call it "donating"...

Currently short EJ and GY and most recent EJ trade is 100 pips and dropping, The 1h TL is busted, indi's are pointing down, so no I wouldn't go long the euro for anything....

Better to see a trade I wish I was in, than wish I wasn't in the one I was...
Good answer, i believe that is good for all in the thread...i keep adding to my position
T.S.
  • #37,717
  • Oct 7, 2008 6:50pm Oct 7, 2008 6:50pm
Quoting eraserhead
Is that the 61.8 fibs from the last low to the last high?
yes yesterdays low to todays high...now if we close the hour below it...my counter trend trade is in big trouble
Different opinions highly valued, ignorant to slander.
  • #37,718
  • Oct 7, 2008 6:56pm Oct 7, 2008 6:56pm
Quoting PipPilot
The answer is that it depends which does confound the issue. I think GMT is probably standard, but I have seen others use a market open, depending on the pair that they trade, as the start of the day. Maybe others here have a different perspective.
I think this is why there are so many pivots floating around, LOL! Thanks PipPilot.
  • #37,719
  • Oct 7, 2008 7:02pm Oct 7, 2008 7:02pm
psychology 101-
so a trade that went against me 20pips+ is now at even again presenting me with the chance to exit with no loss. most would take it...only the insane would not. i did not take it...to me a winning mentality is one that is able to accept loss
Different opinions highly valued, ignorant to slander.
  • #37,720
  • Oct 7, 2008 7:03pm Oct 7, 2008 7:03pm
Quoting psiholog
your analysis is perfect!...i fully agree with it which is why if 1.3556 gets broken decisively we may see a new low later today...as far as the hours go....i dont think this pair keeps time anymore....the global crisis makes sure of that
The up trendline that started yesterday across the channel has been broken. We'll see if it's a false breakout, or if it holds for the retest around the 3595 level.

Took a quick short on the break down to the 3555 pivot for a few quick PIP's.

I'll short again on the pullback if it holds.
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