- #42,603
- Oct 30, 2008 11:10am Oct 30, 2008 11:10am
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
exactly my thoughts...incorporating fibs and pivots and my trendlines...at this point another good long entry would be when the pivot gets crossed again as that would reenter the downtrend we were in. still...the trend now is down and to play counter trend...hmmm...lol
as far as my day goes...within an hour i go \"fund\" a certain something
I will take a long or short signal on 1H or 4H TF depending how strong the PA is acting.
You see that I'm trying to get a daytrader, lol.
It's really the same thing than scalping but slower and more relaxing, what changes is the MM, higher SL ==> lower pip value.
Getting costumed step by step.
- #42,604
- Oct 30, 2008 11:12am Oct 30, 2008 11:12am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
here is the chart again updated. we broke out of the main trend down we were in. now in the faster trend down price action sticks to upper wall. as i always say when one wall is hugged to death...eventually there will be a sharp move to the other wall. so 61.8% retracement up to 1.2700 which is also support 1 is not out of the question. on the flipside.... 38.2% could be a long entry now if broken decisively however if that happens...the possibility of a h&s is not out of the question with the second shoulder topping out around 1.3000. long right now is a no no...short is a no no too if you havent been short. now is really a wait and see period
Different opinions highly valued, ignorant to slander.
- #42,606
- Oct 30, 2008 11:18am Oct 30, 2008 11:18am
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
GO USD 
Just Trade It
- #42,609
- Oct 30, 2008 11:29am Oct 30, 2008 11:29am
- | Joined Nov 2007 | Status: Trader | 2,903 Posts
I'll just take the 30 for today...I have other stuff to do...like nurse my hangover from celebrating the Phillies win 
- #42,610
- Oct 30, 2008 11:30am Oct 30, 2008 11:30am
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
- #42,612
- Oct 30, 2008 11:34am Oct 30, 2008 11:34am
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
- #42,616
- Oct 30, 2008 11:47am Oct 30, 2008 11:47am
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
at 20 SMA resistance on 5 min hehehe
just broke through
2.5 min testing the 15 ma
Its always testing some ma on some time frame. The key is to pick the ma and time frame you like best and stick with it and don't worry if it hits some one else's ma.
Just Trade It
- #42,617
- Oct 30, 2008 11:49am Oct 30, 2008 11:49am
- | Joined Nov 2007 | Status: Trader | 2,903 Posts
2.5 min testing the 15 ma
- #42,618
- Oct 30, 2008 11:53am Oct 30, 2008 11:53am
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
I am thinking not twice but 3 times before placing any positions, and thinking hard about employing SL instead of mental stop.
It's one thing for me to see the set up, but it another regarding how well I play it. I can't jump in too soon knowing it's going to move against me and just accept that. Really going to start picking and sticking with my entries and exits. I missed out on a few thousand $ by not waiting for 1.3067 yesterday. I am such a dumb ass sometimes.
Lately setting stop loss for scalps has been difficult if not impossible. I got knocked out of the trade several times, with profit, but small profits because of the volatility on the way up or down. Goes up 50, down 30, up another 80, down 50 - how can you plan for that?
- #42,620
- Oct 30, 2008 12:06pm Oct 30, 2008 12:06pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts