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  • #65,161
  • Feb 15, 2009 5:15pm Feb 15, 2009 5:15pm
I'm closing longs and getting out of the way until tuesday, I guess. I am not going to get screwed out of any more money in illiquid markets. If my big picture plan comes to pass I will have plenty of time to make some pips, but for now I will preserve capital.
  • #65,162
  • Feb 15, 2009 5:16pm Feb 15, 2009 5:16pm
i will buy 2753 ( light for now)
The best thing that can happen to you is to find out where you're wrong.
  • #65,163
  • Feb 15, 2009 5:18pm Feb 15, 2009 5:18pm
Quoting Driver55
i will buy 2753 ( light for now)
why from that place?
and were do you put your s/l?
  • #65,164
  • Feb 15, 2009 5:18pm Feb 15, 2009 5:18pm
Quoting TIckerShuffl
I'm closing longs and getting out of the way until tuesday, I guess. I am not going to get screwed out of any more money in illiquid markets. If my big picture plan comes to pass I will have plenty of time to make some pips, but for now I will preserve capital.

Good option, i'm out for now too. I'll wait to see what tokyo open will bring. Yen was strong across the board all weekend, gained against all currencies, more notably GBP.
Traders are smartasses
  • #65,165
  • Feb 15, 2009 5:21pm Feb 15, 2009 5:21pm
Just bounced off daily trend line
  • #65,166
  • Feb 15, 2009 5:22pm Feb 15, 2009 5:22pm
I also bought gbpchf at 1,6534 ( always light)
The best thing that can happen to you is to find out where you're wrong.
  • #65,167
  • Feb 15, 2009 5:23pm Feb 15, 2009 5:23pm
Do not Long this People, wait for some more pips to drop and with careful.
1.2711 at least!!

1.2759, important number for now!!
M30 must close below this number and we must see how will act around here!!
  • #65,168
  • Feb 15, 2009 5:25pm Feb 15, 2009 5:25pm
Quoting Chicky
PracticalPip has given a very good advice. To add my thoughts: The author of Reminiscence of a Stock Operator had issues with bucket shops. He moved to New York to trade in a bigger market and with more reliable brokers. However, his problem did not end here. He faced a different set of issues at Wall Street, more to do with market mechanism. He ultimately found a solution ………. By focusing on big swings.

[color=black][font=Verdana]Trading on the basis of bigger time frames has several advantages, surviving...
Very true, unless I'm extremely bored (even though I shouldn't) I trade time-frames of 1hr or more. I mostly trade off 4 hour charts and use the 1 hour for entry and sometimes daily charts with the 4 and 1hr for entries. I love taking HUGE wins, nothing like it!
  • #65,169
  • Edited 5:36pm Feb 15, 2009 5:30pm | Edited 5:36pm
We opened lower following this weekends G7 meeting. The daily chart of EUR/USD is looking weak. Have an openning 'GAP". IMO if we break 1.2705 chances of filling the gap any time soon will be remote.

The DAILY chart I we have a h/s pattern which could move the currency down well below 1.2329.

On the WEEKLY chart I see EUR/USD to 1.10 level (see my previous post)
  • #65,170
  • Feb 15, 2009 5:30pm Feb 15, 2009 5:30pm
What do you guys think about going long looking for a re-trace of the gap to around 1.282
  • #65,171
  • Feb 15, 2009 5:30pm Feb 15, 2009 5:30pm
it is not fair because when it gets till my s/l after that goes up...

how do you think whats it`s target now?
  • #65,172
  • Feb 15, 2009 5:32pm Feb 15, 2009 5:32pm
Quoting UWouldLose
What do you guys think about going long looking for a re-trace of the gap to around 1.282
I'm long, first target in the 1.3200 area... second target in the 1.4500 area. I expect the first one to come this week.
  • #65,173
  • Feb 15, 2009 5:33pm Feb 15, 2009 5:33pm
anybody planning to go long?
What goes up... Must come down
  • #65,174
  • Feb 15, 2009 5:34pm Feb 15, 2009 5:34pm
Quoting PracticalPip
I'm long, first target in the 1.3200 area... second target in the 1.4500 area.

I 'm ok with the first target, but can you explain me why the second one? 1.4500 is way to high, in my opinion.


rgds


jack
  • #65,175
  • Feb 15, 2009 5:37pm Feb 15, 2009 5:37pm
Quoting PracticalPip
Very true, unless I'm extremely bored (even though I shouldn't) I trade time-frames of 1hr or more. I mostly trade off 4 hour charts and use the 1 hour for entry and sometimes daily charts with the 4 and 1hr for entries. I love taking HUGE wins, nothing like it!
I paid a heavy price to learn what you already know. I trade no less than daily chart, not even 4H. However, I split my trades into several orders ( 5 to 10) and enter at various price levels. If my target is to buy at 1.3100, I would start buying from 1.3000 and will continue until 1.3200, achieving my target of 1.3100.
The Thief of Wall Street
  • #65,176
  • Feb 15, 2009 5:37pm Feb 15, 2009 5:37pm
Quoting jackdan
I 'm ok with the first target, but can you explain me why the second one? 1.4500 is way to high, in my opinion.


rgds


jack
We saw 1.4700+ in December... this wasn't a fluke. We will continue higher from here, I know it. I am looking for a test of those December highs, then I'll unload and load back up on a retracement for when we break them and go back to 1.60 and higher.

The same is going to happen with AUD/USD... new highs past 0.99 I am so confident in this that I denominated my brokerage account in AUD instead of USD. I will try and post some charts in my blog this week (tomorrow maybe) as to why I see the EUR/USD going much MUCH higher.
  • #65,177
  • Feb 15, 2009 5:40pm Feb 15, 2009 5:40pm
Quoting Chicky
I paid a heavy price to learn what you already know. I trade no less than daily chart, not even 4H. However, I split my trades into several orders ( 5 to 10) and enter at various price levels. If my target is to buy at 1.3100, I would start buying from 1.3000 and will continue until 1.3200, achieving my target of 1.3100.
Interesting approach. I usually get into trades in increments. For example, last week I shorted GBP/JPY a second time for the week, this time at the end of the week. I shorted the entire retracement up on each Fib level starting from 38.2% all the way up to the 61.8% (three zones). It then dropped, came back up a bit to test the highs and as I saw it fail, I threw some more shorts at it. It's the smartest way to trade and keeps you from committing your entire max sized position at one price level.

The worst that happens to me in my scenario is that I don't get all my fills and don't make as much money as I wanted to lol =)
  • #65,178
  • Feb 15, 2009 5:43pm Feb 15, 2009 5:43pm
Quoting yanick2nick
anybody planning to go long?
i am long from friday!
  • #65,179
  • Feb 15, 2009 5:44pm Feb 15, 2009 5:44pm
Quoting oldman
i am long from friday!
and whats your target?
  • #65,180
  • Feb 15, 2009 5:44pm Feb 15, 2009 5:44pm
Quoting PracticalPip
We saw 1.4700+ in December... this wasn't a fluke. We will continue higher from here, I know it. I am looking for a test of those December highs, then I'll unload and load back up on a retracement for when we break them and go back to 1.60 and higher.

The same is going to happen with AUD/USD... new highs past 0.99 I am so confident in this that I denominated my brokerage account in AUD instead of USD. I will try and post some charts in my blog this week (tomorrow maybe) as to why I see the EUR/USD going much MUCH higher.

My chart tells me otherwise H&S pattern on the daily makes me look for lower lows and the way further down. I just trade the chart and went so far quiet good with that.
Until 1.3130 is not broken I am short biased and if 1.2700 breaks the way on the downside is open.
Just my 2 pips,
good trading all.
Trade on your own risk Plan your trade&trade your plan dont be a
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