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  • #61,221
  • Feb 3, 2009 3:31pm Feb 3, 2009 3:31pm
Quoting vxdxm
The market is dead slow, closed with a 7 pip profit, cant hang around for too long as I have held the position for almost 20 mins now.
Its always the same after 21:00 GMT.
  • #61,222
  • Feb 3, 2009 3:33pm Feb 3, 2009 3:33pm
Quoting cvcamper
Can you explain to me what the divergence signifies? I understand that at right now there is a possible 15 min double top, however I do not understand the significance of the MACD and other indicators being lower then at the previous top. Thank you very much
In the divergence shown, the price is moving more than histogram and CCI which in a way indicates the markets intensity or momentum in either direction:

"2. MACD histograms are a popular tool used in technical analysis to gauge the strength of an asset's momentum. An increasing MACD histogram signals an increase in upward momentum while a decreasing histogram is used to signal downward momentum." (source: investopedia.com)

when the momentum is weaker than the price, it's sometimes indicative of buyers or sellers getting exhausted.

CCI is another variation on gauging sentiment...
http://www.investopedia.com/terms/c/...annelindex.asp
  • #61,223
  • Feb 3, 2009 3:40pm Feb 3, 2009 3:40pm
If this keeps flat-lining, and the MA starts rising to support...I'm bailing, because their could be a decent pop...
  • #61,224
  • Feb 3, 2009 3:40pm Feb 3, 2009 3:40pm
I think this a good risk reward situation if you can hold for a long while. Swissy is also forming a nice buttom im short from 1.3014 sl above r3 target 1.2714.
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #61,225
  • Feb 3, 2009 3:41pm Feb 3, 2009 3:41pm
Quoting TIckerShuffl
If this keeps flat-lining, and the MA starts rising to support...I'm bailing, because their could be a decent pop...
bailing from which position?
  • #61,226
  • Feb 3, 2009 3:41pm Feb 3, 2009 3:41pm
Quoting vulture
I think this a good risk reward situation if you can hold for a long while. Swissy is also forming a nice buttom im short from 1.3014 sl above r3 target 1.2714.
tell me how u came to you decision to short and how long are you planning to hold you position for?
  • #61,227
  • Feb 3, 2009 3:46pm Feb 3, 2009 3:46pm
Quoting PipPipPip
bailing from which position?
short...seems to be unfolding favorably at the moment, however...

I'm closed short...I have other shit I need to do, not a bad day of scalping, though.

I am beginning to realize that you can make money at this, but it does require work, .. I have gotten lucky sitting back and waiting for the home runs, but those trades are few and far between, when instead you can actively seek out pips and make your own destiny.

For many of you who know I favor long EURO, this short was part of a growth for me .

GOod luck guys
  • #61,228
  • Feb 3, 2009 3:47pm Feb 3, 2009 3:47pm
Quoting TIckerShuffl
short...seems to be unfolding favorably at the moment, however...
can i ask if you are trading short term or long term for the short position?
  • #61,229
  • Feb 3, 2009 3:49pm Feb 3, 2009 3:49pm
All charts are pointing to the downside now. H4 hit the upper trend-line, M3 and M2 have broken the sma and the M15 appears to have rejected the double-top.
Awaiting for the set-up and ready to short.

Edit: And its bounced off the weekly pivot
  • #61,230
  • Feb 3, 2009 3:50pm Feb 3, 2009 3:50pm
Quoting Dazzer
All charts are pointing to the downside now. H4 hit the upper trend-line, M3 and M2 have broken the sma and the M15 appears to have rejected the double-top.
Awaiting for the set-up and ready to short.

thats music to my ears keep us posted
  • #61,231
  • Feb 3, 2009 3:56pm Feb 3, 2009 3:56pm
it hurts to see the bear and bull in one cage.
  • #61,232
  • Feb 3, 2009 3:56pm Feb 3, 2009 3:56pm
Sat here for nearly 4 hours watching the price. Missed loads of opportunities as I thought it "couldn't go up anymore".

Anyway, it looks to be a perfect set up for a short. I will wait though....

hehehe

Last one before bed.
  • #61,233
  • Feb 3, 2009 3:58pm Feb 3, 2009 3:58pm
Quoting PipPipPip
can i ask if you are trading short term or long term for the short position?
very short term...im out...shorter time frame held divergence, longer term is more uncertain.

With all the outside factors, ie commodity price, new US administration, Stimulus package, etc etc...I can't be long USD for any length of time.
  • #61,234
  • Feb 3, 2009 4:01pm Feb 3, 2009 4:01pm
My forcast would say slow drip sideways and down over next 4-8 hours and hourly chart will meet 20SMA and resume uptrend.

Later dudes...my stomach is killing me right now.
  • #61,235
  • Feb 3, 2009 4:04pm Feb 3, 2009 4:04pm
Set-up no longer perfect for a short. Pull-back has gone too far.
  • #61,236
  • Feb 3, 2009 4:19pm Feb 3, 2009 4:19pm
Quoting Dazzer
Set-up no longer perfect for a short. Pull-back has gone too far.
its not moving at all.
  • #61,237
  • Feb 3, 2009 4:21pm Feb 3, 2009 4:21pm
Quoting CAnthonyMVE
tell me how u came to you decision to short and how long are you planning to hold you position for?
The long term trend is still down to me. price are sandwiched between major supply areas 1.30xx therefore good risk reward. Hope i made myself clear. I maybe wrong sl is placed.
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"Simplicity is the ultimate sophistication" leonardo da vinci
  • #61,238
  • Feb 3, 2009 4:27pm Feb 3, 2009 4:27pm
Quoting PipPipPip
its not moving at all.
Its done nothing for 10 minutes. Think the connection to broker might be lost.
  • #61,239
  • Feb 3, 2009 4:30pm Feb 3, 2009 4:30pm
30min candle closed above 27..
  • #61,240
  • Feb 3, 2009 4:30pm Feb 3, 2009 4:30pm
Quoting vulture
The long term trend is still down to me. price are sandwiched between major supply areas 1.30xx therefore good risk reward. Hope i made myself clear. I maybe wrong sl is placed.

sounds good and looks good didnt zoom out to see that thanks keep me posted
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