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  • #64,541
  • Feb 12, 2009 12:30pm Feb 12, 2009 12:30pm
From what I've read here (1st time caller, long time listener) most of you play the 4H charts. What stop value do you guys typically use? How many pips?
What kind of rule could I follow ( on Euro) on a 5 min, 15min, 30 min chart for stops?
  • #64,542
  • Feb 12, 2009 12:34pm Feb 12, 2009 12:34pm
might be a inverted head and shoder on the 30m
those who can, do. those who cant, talk about those who can
  • #64,543
  • Feb 12, 2009 12:37pm Feb 12, 2009 12:37pm
Quoting Darkseal
From what I've read here (1st time caller, long time listener) most of you play the 4H charts. What stop value do you guys typically use? How many pips?
What kind of rule could I follow ( on Euro) on a 5 min, 15min, 30 min chart for stops?
price action is to volatile for me on anything less than 1hr chart
  • #64,544
  • Feb 12, 2009 12:39pm Feb 12, 2009 12:39pm
Quoting gatorinla
might be a inverted head and shoder on the 30m
Looks like it, but that usd/chf seems to be gaining upward momentum which will kill the 30 minute h & S patern
  • #64,545
  • Feb 12, 2009 12:40pm Feb 12, 2009 12:40pm
Quoting alexanvl
well my upside analysis last night was a complete failure, but I think we could still get there (1.3100) if Obama signs the stimulus tomorrow. Maybe this is just wishful thinking?
if Obama like, let him sign it or not sign it. the issue here is that we will definately get to 1.25xx or probably 1.24xx. for your thought check YEN pair especially mr beast GJ and see for urself. so dont hope but look and see. just my 2cent
  • #64,546
  • Feb 12, 2009 12:40pm Feb 12, 2009 12:40pm
Quoting Darkseal
From what I've read here (1st time caller, long time listener) most of you play the 4H charts. What stop value do you guys typically use? How many pips?
What kind of rule could I follow ( on Euro) on a 5 min, 15min, 30 min chart for stops?
To be honest, I use the one minute chart almost exclusively. I just figure out the general trends using the 15min, 30min, and 1hr charts. I don't bet against trends too often...
  • #64,547
  • Feb 12, 2009 12:42pm Feb 12, 2009 12:42pm
Quoting gregam1128
Looks like it, but that usd/chf seems to be gaining upward momentum which will kill the 30 minute h & S patern
it looks like it but its not. its there to deceive.its just a 50% to 61.8% (depends on fib measurement) retracement of the last fall
  • #64,548
  • Feb 12, 2009 12:44pm Feb 12, 2009 12:44pm
Quoting alexanvl
well my upside analysis last night was a complete failure, but I think we could still get there (1.3100) if Obama signs the stimulus tomorrow. Maybe this is just wishful thinking?
The congress passed it.. that's what matter. i dont think his signiture matter as he's among the ones who purposed it. Sadly, things are still ultra bearish.. Those multi trillions plan here and there wont work overnight. the market got tired of it, maybe. what's about the eurozone?
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #64,549
  • Feb 12, 2009 12:45pm Feb 12, 2009 12:45pm
We need at least close on the daily below 1.2850 today to sustain a bearish momentum. 1.27 support is holding up pretty well. I am short because of the fundamentals but technically if we don't get a more aggressive move soon below the 1.27 support i think we might get a support bounce up to the 1.33 level. I've been short since 1.3036 for about a little over a week and still have little to show for it. I didn't think 1.27 would hold up this well I'm still planning to take profits at 1.2550 region if we get there at this point.
  • #64,550
  • Feb 12, 2009 12:45pm Feb 12, 2009 12:45pm
Quoting TheWalrus
To be honest, I use the one minute chart almost exclusively. I just figure out the general trends using the 15min, 30min, and 1hr charts. I don't bet against trends too often...
But what kind of stop do you use? How much room do you give to let the position breath?
  • #64,551
  • Feb 12, 2009 12:45pm Feb 12, 2009 12:45pm
oil dropping equity down... corelation with other pairs may hickup too...im long but not comfortable with it.. bulls fighting bears....maybe we are close to bottom
those who can, do. those who cant, talk about those who can
  • #64,552
  • Feb 12, 2009 12:46pm Feb 12, 2009 12:46pm
Quoting gregam1128
I'm looking for Feb monthly bar to close at 2530ish range.
That is my monthly analysis. Have a good trading day.
Most of the trends on most of the frames re down, so may be you're right for 1.2530. Nevertheless, that is not a range, but a real downtrend.
In the present volatility it's really hard to say a level only 300 pips from here and more than 20 days left.
Better pray for the MACD on the weekly not to achieve the bearish cross, 'cause it will take us to 1.10 in no time.
There is no "double top" on the 4 hour EUR/USD.
And why do you need monthly charts for analysis within the next two weeks?
Have a good tradng day!
Berbo count: 12 We'll Keep the Red Flags Flying High
  • #64,553
  • Feb 12, 2009 12:48pm Feb 12, 2009 12:48pm
Previous support line now acts as resistance line. Stops are placed above 1.2940 figure.
First target 1.2700.
Attached Image
  • #64,554
  • Feb 12, 2009 12:48pm Feb 12, 2009 12:48pm
1.2840 is a level to watch.. it looks like a retest
Attached Image
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #64,555
  • Feb 12, 2009 12:48pm Feb 12, 2009 12:48pm
Quoting gregam1128
This may be of no interest to a lot of you

I'm looking for Feb monthly bar to close at 2530ish range.

That is my monthly analysis. Have a good trading day.
Don't know about the rest....I'm always interested in what you have to say.
  • #64,556
  • Feb 12, 2009 12:50pm Feb 12, 2009 12:50pm
Quoting beejay
if Obama like, let him sign it or not sign it. the issue here is that we will definately get to 1.25xx or probably 1.24xx. for your thought check YEN pair especially mr beast GJ and see for urself. so dont hope but look and see. just my 2cent
HERE IS MY END OF THE MONTH TARGET FOR USD/CHF
Attached Image (click to enlarge)
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  • #64,557
  • Feb 12, 2009 12:51pm Feb 12, 2009 12:51pm
Quoting dysan4x
Don't know about the rest....I'm always interested in what you have to say.
Thanks, just putting my 2 cents in here and there!
  • #64,558
  • Feb 12, 2009 12:52pm Feb 12, 2009 12:52pm
Quoting MackS10
Previous support line now acts as resistance line. Stops are placed above 1.2940 figure.
First target 1.2700.
Welcome Aboard!
  • #64,559
  • Feb 12, 2009 12:56pm Feb 12, 2009 12:56pm
Quoting Darkseal
But what kind of stop do you use? How much room do you give to let the position breath?
That's the question of the year. It really depends on how much I leverage. I generally do 30:1, 50:1, or 100:1. If I'm using less leverage, I'll allow for more movement. I don't have a number, i.e. 35 pips, that I let something fall to before I sell it. I just consistently reevaluate where I'm at during a trade and see if I can expect things to retreat. If I bet with a trend, there is a better chance I can withstand a sudden spike and last for the retreat
  • #64,560
  • Feb 12, 2009 1:00pm Feb 12, 2009 1:00pm
Quoting Darkseal
From what I've read here (1st time caller, long time listener) most of you play the 4H charts. What stop value do you guys typically use? How many pips?
What kind of rule could I follow ( on Euro) on a 5 min, 15min, 30 min chart for stops?
Listen carefully.
If someone tells you a rule about how many pips/on which frame - it will be simply a lie.
Only the market can say in every different situation how many pips the stop will cost.
Example: There is a pure, breathing downtrend from 1.4720 on the 4 h. chart.
A trend following position - a SELL at 1.3050 requires a stop at 1.3330, so the cost is 280 pips.
The first consolidation after 1.4720 gave 1.4350/SL 1.4720 - cost 370 pips.
A countertrend entry at 1.2730/SL 1.2690 would cost 40 pips.
As you see usually following the trend looks more expensive, but infact it's a lot cheaper, than the "cheaper" countertrend ticket.
Berbo count: 12 We'll Keep the Red Flags Flying High
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