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EURUSD

  • #65,821
  • Feb 17, 2009 9:46am Feb 17, 2009 9:46am
Quoting Darkseal
You mean stop loosing?
Or stop the position

cause I'd like to do both!
If you buy in a strong downtrend you should stop with everything.
/ ... clarifying decisions ... /
  • #65,822
  • Feb 17, 2009 9:47am Feb 17, 2009 9:47am
Why people go long when it is moving down puzzles me.
  • #65,823
  • Feb 17, 2009 9:52am Feb 17, 2009 9:52am
Its the new "guess how much I can loose" video game, and I'm Winning!
  • #65,824
  • Feb 17, 2009 9:55am Feb 17, 2009 9:55am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting rody8808
Why people go long when it is moving down puzzles me.
You can make money going long or short. Buy low/sell high right? Every down move needs retraces. Beginning of my day 8 pm EST or during Asia high was 2798. If it makes it down to 2556 that's 240 pip drop. 60 pips is one harmonic beat so it's beat down 4 times. Should have at least a beat up from 2556 (or even sometimes these retraces good for 40 pips). Additionally, normally 220+ pip days are rare on E/U. I could be wrong obviously, but that's why the buy limit works for me in this case and I'll be able to get out BE worst case scenario I feel. If I do catch the bottom then R;R is very good.

Oh yeah, I'm also buying into a support/demand going back from last year. This area should hold.
"Wishful thinking dies hard." Igor T.
  • #65,825
  • Feb 17, 2009 9:56am Feb 17, 2009 9:56am
Can yopu show me the retrace please?
  • #65,826
  • Feb 17, 2009 10:02am Feb 17, 2009 10:02am
Quoting BoredToLoose
....who wants, obliviously!!

I do not advice any longs at this level.

Two things could happen today:

First - I am wrong reading my charts and this will go to the upside hardly, if so all longs will have their day!
Second - we will see this Down move for some time!!

My opinion is that last 3 Weeks PA already is given to us the next move!!!

Do not challenge the market!!!

Yup, going long the euro/usd is going to be Dangerous for some time to come. I'm not saying traders can't make pips but it is a contra trend trade and has huge intrinsic risks. Monthly IB has broken out and Rising TL has broken to the downside. I'm short from 12699 and have no plans to take any profits for at least 3 months. Cheerio
"Timing Is Everything. Really I Swear It Is"
  • #65,827
  • Feb 17, 2009 10:03am Feb 17, 2009 10:03am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
As you can see the earlier lows from today at 2600 retraced clearly to supply identified at 2672 - 2658. Now if you look at my first post I've identified demand zone 2602-2548. Look at my 1st and 2nd chart and see how price behaves to the fib expansion. Factor this logic in with harmonic beats, 2556 being close to 50 round number, 30 pip stop with 50 pip TP for first position, I see no reason not to take the trade.
Attached Image (click to enlarge)
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"Wishful thinking dies hard." Igor T.
  • #65,828
  • Feb 17, 2009 10:03am Feb 17, 2009 10:03am
21 is holding this down run. If it breaks that then 55 has to be broken before even thinking of a long.

This is on a 15 Minute chart and ema's will change prspevtive on different time frames.

I will be waiting for a clear break of the 55 and that will be my retrace.
Attached Image (click to enlarge)
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  • #65,829
  • Feb 17, 2009 10:04am Feb 17, 2009 10:04am
I am long at 1.2585 . Above 220 pips down today.. it is time for retracement..
  • #65,830
  • Feb 17, 2009 10:07am Feb 17, 2009 10:07am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Anyways I have my plan for approaching the trade, and if it works great, if not that's fine too. Again it's buy Limit 2556, SL 30 pips, TP 1 @ 2606, 2nd position moved to BE +1 and let run.
"Wishful thinking dies hard." Igor T.
  • #65,831
  • Feb 17, 2009 10:08am Feb 17, 2009 10:08am
Quoting rody8808
21 is holding this down run. If it breaks that then 55 has to be broken before even thinking of a long.

This is on a 15 Minute chart and ema's will change prspevtive on different time frames.

I will be waiting for a clear break of the 55 and that will be my retrace.
what is your green MA?
/ ... clarifying decisions ... /
  • #65,832
  • Feb 17, 2009 10:09am Feb 17, 2009 10:09am
Quoting miroslavdm
I am long at 1.2585 . Above 220 pips down today.. it is time for retracement..
not yet.. still hv some room to go down.. i see nearest it can bound is @ 1.2550/60 .. i can only think to go for long from there.. it's a trade on retracement though.. so i will go for small TP for part of my posts and trail for others..IMHO
  • #65,833
  • Feb 17, 2009 10:09am Feb 17, 2009 10:09am
Green = 200
  • #65,834
  • Feb 17, 2009 10:10am Feb 17, 2009 10:10am
Quoting rody8808
Green = 200
As I understood all of your MAs are EMA.
/ ... clarifying decisions ... /
  • #65,835
  • Feb 17, 2009 10:10am Feb 17, 2009 10:10am
This is a M30 Ichimoku chart.

I will not explain here how I read my charts, I am a Gann Trader that uses M30 Ichimoku Chart, Crossed lines plus symmetric channels, more common at H4 to help my decisions.
Only this Chart do not tell me how to catch big moves.

I do not know how to teach how to read PA, or I am a big Lucky trader reading that or I am good!!
I always follow my feelings!!
I know that for most traders I am not suitable with my advices, because I trade for Longer Term and with MM very tight, I never cross my 3%.
When I show here my already done Trades, all that trades it is tiny parts, I never want to have my average below a safe number.

I lose trades too, like everybody else!!!
When I started to trade I kept my trades, so I lose my account!!
NEVER DO THAT!!!

About this chart:
Too many lines, I am lazy to clean it up!!
Line with Red arrow, very important one. TRY TO READ IT!!!!

Bye and Trade Careful, do not do strange things with your account
Attached Image (click to enlarge)
Click to Enlarge Name: m30pa.gif Size: 74 KB
  • #65,836
  • Feb 17, 2009 10:12am Feb 17, 2009 10:12am
Quoting FxChi
Anyways I have my plan for approaching the trade, and if it works great, if not that's fine too. Again it's buy Limit 2556, SL 30 pips, TP 1 @ 2606, 2nd position moved to BE +1 and let run.
it should be a good entry .. let's see.. i hv mine PO buy @ 1.2552..
  • #65,837
  • Feb 17, 2009 10:12am Feb 17, 2009 10:12am
Yup
  • #65,838
  • Feb 17, 2009 10:14am Feb 17, 2009 10:14am
That chart took some time.
  • #65,839
  • Feb 17, 2009 10:15am Feb 17, 2009 10:15am
Quoting rody8808
Yup
Thanks
/ ... clarifying decisions ... /
  • #65,840
  • Feb 17, 2009 10:21am Feb 17, 2009 10:21am
Who thinks we hit the bottom of today?
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