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  • #56,181
  • Jan 13, 2009 7:47pm Jan 13, 2009 7:47pm
Quoting msniper
it doesn't matter where it goes i think retail sells will be in bear side its just matter of time
when you mean bear side, may you please exaggerate what you mean there?
  • #56,182
  • Jan 13, 2009 7:50pm Jan 13, 2009 7:50pm
I've been bearish all this week, because as usual, market tend to anticipate news, and being a tax cut expected in the Euro, i'd figure that this week would start pricing in that forecast.

Now this move so far still looks as a "mere" retracement, but if it breaks above 1.3280 i'll be back at the drawing board.. and if that happens, and *if* the rate cut is confirmed the bigger the fall.

So far i'm still short biased, but I was surprised by this asian strong retracement (so far).
Traders are smartasses
  • #56,183
  • Jan 13, 2009 7:52pm Jan 13, 2009 7:52pm
Quoting PipPipPip
when you mean bear side, may you please exaggerate what you mean there?
i just meant that retail sells will make it more bearish this is what i think.
  • #56,184
  • Jan 13, 2009 7:54pm Jan 13, 2009 7:54pm
Had to get out my real charts and make sure I wasn't missing something...

ADD: Ignore that weird spike in the middle... bad data or something.

ADD MORE: 3254 is a Quarter Pivot between Daily and M3 as well, right where my last 20m candle closed.
Attached Image
FUBAR...
  • #56,185
  • Jan 13, 2009 7:57pm Jan 13, 2009 7:57pm
Quoting ak4x
Had to get out my real charts and make sure I wasn't missing something...

ADD: Ignore that weird spike in the middle... bad data or something.
whats this long spike up to 3350

this is Fxsol chart ? because i heard they had problem with their system yestrday
  • #56,186
  • Jan 13, 2009 8:00pm Jan 13, 2009 8:00pm
Quoting msniper
whats this long spike up to 3350

this is Fxsol chart ? because i heard they had problem with their system yestrday
what i said... bad tick or something. i've been doing major housecleaning on my accucharts and haven't been using them lately, so didn't know about the problem..
FUBAR...
  • #56,187
  • Jan 13, 2009 8:03pm Jan 13, 2009 8:03pm
lower bb on 3m at 3240 may hold things up on retrace for a bit, but clear below that back to 3220ish.

unless it bounces there...
FUBAR...
  • #56,188
  • Jan 13, 2009 8:03pm Jan 13, 2009 8:03pm
Quoting PipPipPip
whats the reason why this is rising anyone?>
Two reasons: 1) it went down ealier, and 2) It will come down later.

The greatest lessons I have learned in this trade so far is to never go against the main trend, focus on round numbers, always look at the big picture, keep your positions small, stoploss or hedge your postions so that you may re-enter when situation changes in your favor. A sure way to either get some profit or to break-even. No matter what happens, it is not going to pop off your chart .... either on upside or down.
The Thief of Wall Street
  • #56,189
  • Jan 13, 2009 8:04pm Jan 13, 2009 8:04pm
this thing still bearish and we will go down

this is 4H chart
Attached Image (click to enlarge)
Click to Enlarge Name: still bearish.png Size: 9 KB
  • #56,190
  • Jan 13, 2009 8:04pm Jan 13, 2009 8:04pm
be careful on the short side, bouce could extend to 1,3330 - 70
  • #56,191
  • Jan 13, 2009 8:10pm Jan 13, 2009 8:10pm
Quoting Chicky
No matter what happens, it is not going to pop off your chart .... either on upside or down.
Remind me to tell you what happened to me I think it was last year some time or early this one ((who knows anymore?)) when GE came out with an earnings report that was a measly 8 cents below forcast. 8 CENTS!!

Good lord the world exploded and i went from paradise to purgatory in .8 seconds flat. Nowadays big corps would do anything to only miss by 8 cents.

I'll have to go back and try to find the trade. I'll stick it on the geeezer board if i find it. The sounds coming out of the mancave were horrific.

EDIT on the ABOVE BOLD PART: I don't know what year this is I guess. It was a long time ago, many months, moons, whatever.
FUBAR...
  • #56,192
  • Edited 8:37pm Jan 13, 2009 8:17pm | Edited 8:37pm
Quoting ak4x
Remind me to tell you what happened to me I think it was last year some time or early this one ((who knows anymore?)) when GE came out with an earnings report that was a measly 8 cents below forcast. 8 CENTS!!

Good lord the world exploded and i went from paradise to purgatory in .8 seconds flat. Nowadays big corps would do anything to only miss by 8 cents.

I'll have to go back and try to find the trade. I'll stick it on the geeezer board if i find it. The sounds coming out of my man cave were horrific.
I busted my real account two days ago at NFP on a five second pin bar. Now, instead of A4 size, I use poster size paper for this pa b*st*rd. I now trade on daily chart with five times more equity....... I agree with you, getting a break-even (if not some profit) is not that easy. Looking at big picture gives me an opportunity to recover losses on retraces.
The Thief of Wall Street
  • #56,193
  • Jan 13, 2009 8:19pm Jan 13, 2009 8:19pm
Quoting ak4x
Remind me to tell you what happened to me I think it was last year some time or early this one ((who knows anymore?)) when GE came out with an earnings report that was a measly 8 cents below forcast. 8 CENTS!!

Good lord the world exploded and i went from paradise to purgatory in .8 seconds flat. Nowadays big corps would do anything to only miss by 8 cents.

I'll have to go back and try to find the trade. I'll stick it on the geeezer board if i find it. The sounds coming out of my mancave were horrific.


[b]EDIT...

and thanks for all the little tips
  • #56,194
  • Jan 13, 2009 8:20pm Jan 13, 2009 8:20pm
On my H4 a lin reg line says more room to go higher but waiting for it, if it makes it, will be resistance level @ 1.3312 :
Attached Image (click to enlarge)
Click to Enlarge Name: EU240min.PNG Size: 31 KB
  • #56,195
  • Jan 13, 2009 8:22pm Jan 13, 2009 8:22pm
Quoting Chicky
Two reasons: 1) it went down ealier, and 2) It will come down later.

The greatest lessons I have learned in this trade so far is to never go against the main trend, focus on round numbers, always look at the big picture, keep your positions small, stoploss or hedge your postions so that you may re-enter when situation changes in your favor. A sure way to either get some profit or to break-even. No matter what happens, it is not going to pop off your chart .... either on upside or down.
I think you, like me, wish to learn. Maybe this will help http://www.nobrainertrades.com , Good knight I'm out.
Edit: that sucks now I have to stay up and fix it.
Ok edit 2ish nite nite
  • #56,196
  • Jan 13, 2009 8:37pm Jan 13, 2009 8:37pm
Quoting msniper
this thing still bearish and we will go down

this is 4H chart
Also looks like it could turn into a V pattern and continue North
  • #56,197
  • Jan 13, 2009 8:41pm Jan 13, 2009 8:41pm
And maybe pigs can fly too.
  • #56,198
  • Edited 8:43pm Jan 13, 2009 8:42pm | Edited 8:43pm
Quoting knuckledrag
I think you, like me, wish to learn. Maybe this will help http://www.nobrainertrades.com , Good knight I'm out.
Edit: that sucks now I have to stay up and fix it.
Ok edit 2ish nite nite
Thanks. I registered and visited this site a couple of days ago, has some good stuff ........... but my problem is the person who I look at every morning in my bathroom mirror.

ps. Maybe I try some other mirror!
The Thief of Wall Street
  • #56,199
  • Jan 13, 2009 8:45pm Jan 13, 2009 8:45pm
Quoting ak4x
Remind me to tell you what happened to me I think it was last year some time or early this one ((who knows anymore?)) when GE came out with an earnings report that was a measly 8 cents below forcast. 8 CENTS!!

Good lord the world exploded and i went from paradise to purgatory in .8 seconds flat. Nowadays big corps would do anything to only miss by 8 cents.

I'll have to go back and try to find the trade. I'll stick it on the geeezer board if i find it. The sounds coming out of the mancave were horrific.

[b]EDIT on the...
I remember that morning - I was watching Bloomberg when they announced GE missed target and I immediately shorted the whole farm. Bottomless pit and I kept adding shorts as margin became available. Tripled account on that one trade. But you are right now it seems no matter what the announcement it will be tough to duplicate that morning.
History is written by the victors.
  • #56,200
  • Jan 13, 2009 8:46pm Jan 13, 2009 8:46pm
Quoting SunTrader
And maybe pigs can fly too.
very possible
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