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  • #40,361
  • Oct 21, 2008 2:04am Oct 21, 2008 2:04am
Quoting MackS10
Many stops hit at once creating a chain reaction. I think it just opened more bear opportunities.
to this extent though?
  • #40,362
  • Oct 21, 2008 2:09am Oct 21, 2008 2:09am
seems like it stuck at S2. Yawn. I'm gonna hit bed right now.
  • #40,363
  • Oct 21, 2008 2:10am Oct 21, 2008 2:10am
Quoting glias
so any idea what the news was just now on the major eur pair drop?
just a bog-standard impulsive move. No news required.
TRADE FOR SWAP
  • #40,364
  • Oct 21, 2008 2:11am Oct 21, 2008 2:11am
how r u bro

dear what happened yesterday it was'nt really very very alarming and out of the blue for me . i was very astonished that none of u all biggies were unable to see the move coming i had a smooth ride a scalp for about 30 pips but it was just smooth for me not something i did'nt expected . man u should look at the 1h candle and look at the price action there it would deffinitely help u man. and really i am following the site u gave to me . thanx bro.


may u get all the lost pips back with some more gain pips today (AMIN).


and what from here i guess a weekly close of 1.29 or even 1.28 is on the cards.
trying to learn and acquire knowledge
  • #40,365
  • Oct 21, 2008 2:11am Oct 21, 2008 2:11am
Quoting glias
to this extent though?
Sometimes the bigdogs call it "the art of stoploss hunting", i don't see any other rational explanation.
You got to keep in mind though that the move could have also happened in the opposite direction.
  • #40,366
  • Oct 21, 2008 2:14am Oct 21, 2008 2:14am
once a break down occurs, the breakout wall most of the time gets retested as its been proven time and time again. however this particular situation is tricky. you could say 1.3258 is the breakout wall as that fullfills 100% fib retracement from the low...so yea...that should be immediate resistance/support...if we pass it decisively...retesting the 1.3310 levels is not impossible... i am currently attempting a long position...in good psiholog countertrend fashion....I DONT RECOMMEND THIS TO ANYONE

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Different opinions highly valued, ignorant to slander.
  • #40,367
  • Oct 21, 2008 2:21am Oct 21, 2008 2:21am
Quoting psiholog
once a break down occurs, the breakout wall most of the time gets retested as its been proven time and time again. however this particular situation is tricky. you could say 1.3258 is the breakout wall as that fullfills 100% fib retracement from the low...so yea...that should be immediate resistance/support...if we pass it decisively...retesting the 1.3310 levels is not impossible... i am currently attempting a long position...in good psiholog countertrend fashion....I DONT RECOMMEND THIS TO ANYONE

Attachment
Why go against the trend?? In the long term it will not increase your pip count but only the number of losing trades...
  • #40,368
  • Oct 21, 2008 2:24am Oct 21, 2008 2:24am
ok thats it for me guys, im hitting the pillows.

psi and everyone here, thanks for everything, you are all too great.

goodnight all.
  • #40,369
  • Oct 21, 2008 2:26am Oct 21, 2008 2:26am
Quoting cobraforex
Yeah, I didn't want to miss the market decision and now I missed it backreading the posts, lol. But there is always a new trade.
Did I miss some news? What was that drop coming from?

I'm happy that you doing fine, keep on the good work
There wasn't any news. It had been trying to drop for a couple of hours, but needed volume. Guess the Euros did it to themselves - again. Now attempting some retrace...
Up or down, gimme a ticket
  • #40,370
  • Oct 21, 2008 2:26am Oct 21, 2008 2:26am
Quoting psiholog
... i am currently attempting a long position...in good psiholog countertrend fashion....I DONT RECOMMEND THIS TO ANYONE
Suntrader said you get stinky fingers trying to catch the bottom, but don't smell mine,lol.

already scalped it and with that ==>time to go to bed till NY open.
good night
  • #40,371
  • Oct 21, 2008 2:26am Oct 21, 2008 2:26am
I am truly truly surprised that the support line breaking didn't do much of anything.

I was off watching TV when it happened so it was surprising it even happened, especially the fact that it didn't do much. Makes me wonder WTH these large traders and institutions are doing.
  • #40,372
  • Oct 21, 2008 2:27am Oct 21, 2008 2:27am
Quoting scexglobal
Weekly 200 MA just broken... this is historic!

Do not short this market!
If 200WMA is broken, kindly explain why dun short?
  • #40,373
  • Oct 21, 2008 2:30am Oct 21, 2008 2:30am
Quoting SpecialEd
What say 801? I think most of us are still around. It's just wrong timeframe for most of them like Acumen, AK4X, Cobra, The Korean (Jay), etc. Psiholog is lurking and teaching. I don't post as much as I used to, but try to keep up when I'm not heads-down trading.

How is your trading going? Looks like EUR/USD is about to find some direction. Sydney will be closing, leaving it all to Tokyo in about 6 minutes.

ed

trading is good for me.. am happy..

still keeping my shorts from 1.48... added positions along the way and diversified among other LONG USD pairs... keeping MM in strictest sense.


No more trigger happy and sinking boat days... learned alot from bros here..

but i dont scalp.. am very poor at it.. i just keep fundamental positions... my position was from 22 sep.

i broken even on my loss.. now in blue.. hope i never see those days again where by i dont even dare to step away for toilets for fear of MC
  • #40,374
  • Oct 21, 2008 2:33am Oct 21, 2008 2:33am
Quoting FXraider
If 200WMA is broken, kindly explain why dun short?
sorry meant long.
  • #40,375
  • Oct 21, 2008 2:36am Oct 21, 2008 2:36am
Quoting scexglobal
sorry meant long.
Ok. For 1 moment, i thought my entry was wrong. Haha
  • #40,376
  • Oct 21, 2008 2:37am Oct 21, 2008 2:37am
Quoting FXraider
Ok. For 1 moment, i thought my entry was wrong. Haha
  • #40,377
  • Oct 21, 2008 2:37am Oct 21, 2008 2:37am
Hearing your story Trader801 brings back memories of when I first started...I was trading off of the 1min chart as I thought that the tighter stops would means smaller losses....in reality, the losses piled up, it just took longer to lose as much....minute scalping is really something for a select few....I've had much better success using the 15M - 4H charts.....stops might be slighter wider, especially in this market, however the chances of getting faked out on a 1h chart is much less than on a 1minute chart...sometimes you gotta stand back and see the big picture - at least that what worked for me....
  • #40,378
  • Oct 21, 2008 3:58am Oct 21, 2008 3:58am
Amazing how people keep buying this pair.
  • #40,379
  • Oct 21, 2008 4:14am Oct 21, 2008 4:14am
Quoting LisbonHugo
Amazing how people keep buying this pair.
They may have different views.

Anyway, 2 types of buyers...type 1: short covering and type 2: think that they have too much $$$ to give to the market.
  • #40,380
  • Oct 21, 2008 4:22am Oct 21, 2008 4:22am
Quoting LisbonHugo
Amazing how people keep buying this pair.
I believe the term is call retracement. It wouldn't be forex if this market moves in one direction
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