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Psiholog's EUR/USD trading style

  • #241
  • Feb 15, 2009 8:10pm Feb 15, 2009 8:10pm
So whats everyone thinking? Im going long around 2710-2730 or so looking for 2850,2875,2900 where I will close out my long and take a short.
Going to make it big by age 21.
  • #242
  • Feb 16, 2009 7:33am Feb 16, 2009 7:33am
Quoting psiholog
you know i wont do that ed, my method works for me in general and am pleased with it. let me ask you this though, have you been profitable the past 2 weeks using those 2? All im wondering is if other "systems" have been as difficult to trade as my method these past 2 weeks with all these false spikes up and down and what should become resistance doesnt and what should become support doesnt. 150 pips down in one hour, 150 pips back up in the next 2 hours. then 75 pips down 4 hours later and followed by 120+ up in the next hour or two. I guess I...

What you special day in a weeks? What the good time to trade eu? I think most of trader want to know.

thanks
  • #243
  • Feb 16, 2009 7:43am Feb 16, 2009 7:43am
Quoting dstryr
So whats everyone thinking? Im going long around 2710-2730 or so looking for 2850,2875,2900 where I will close out my long and take a short.
I think most of us are thinking the same, waiting for the gap to be filled.
  • #244
  • Feb 17, 2009 5:44pm Feb 17, 2009 5:44pm
hello all..im back...my internet was down until now...missed the break down that i have been waiting for 2 weeks for..ah well.

current technical analysis. we have been in a descending channel since fridays close really. the lower wall of the channel is fully established with 3 taps of the lower wall with the upper wall requiring further tapping to prove this is a strong descending channel. for now..connecting the 2 highest spikes provides the upper wall. at the lowe we see what seems to be a W now or double bottom. if this is as i think it is...the neckline is at 1.2625 which would provide further up movement to the upper wall of the descending channel which is around 1.2685. naturally i am long off the double bottom....if the low does not hold though...a retap of the lower wall is most likely. lets see now...

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Different opinions highly valued, ignorant to slander.
  • #245
  • Feb 17, 2009 6:08pm Feb 17, 2009 6:08pm
Quoting psiholog
hello all..im back...my internet was down until now...missed the break down that i have been waiting for 2 weeks for..ah well.

current technical analysis. we have been in a descending channel since fridays close really. the lower wall of the channel is fully established with 3 taps of the lower wall with the upper wall requiring further tapping to prove this is a strong descending channel. for now..connecting the 2 highest spikes provides the upper wall. at the lowe we see what seems to be a W now or double bottom. if this is as i think it is...the...
how was this thing about price being sticked into a wall?.... break to the other side?
  • #246
  • Feb 17, 2009 6:36pm Feb 17, 2009 6:36pm
Quoting emda
how was this thing about price being sticked into a wall?.... break to the other side?
yep...the only problem is identifying when. i think now is the time with this W in the forming...with current fundamental events though....any buy should be exercised with care...we gapped and continued down for a reason. note that ibfx didnt even fill in the gap...not even sure about where the real market close and open was. and of course...this is the asian session...we wont see any real moves (usually) until europe session or later
Different opinions highly valued, ignorant to slander.
  • #247
  • Feb 17, 2009 7:04pm Feb 17, 2009 7:04pm
Quoting psiholog
yep...the only problem is identifying when. i think now is the time with this W in the forming...with current fundamental events though....any buy should be exercised with care...we gapped and continued down for a reason. note that ibfx didnt even fill in the gap...not even sure about where the real market close and open was. and of course...this is the asian session...we wont see any real moves (usually) until europe session or later
thanks
well.. asia has been very volatile lately... I'll watch for 1.2650 daily pivot
  • #248
  • Feb 17, 2009 7:06pm Feb 17, 2009 7:06pm


Trying to get back in.

Falling wedge on the daily has been broken to the downside, but not convincingly. Still have bias for an up move to at least close the weekend gap and perhaps further up to the resistance area of the falling wedge.

After yesterday's wild moves in Asia and dead in London/NY, who knows what this sushi session will bring.

May the pips be with you.
Attached Image
  • #249
  • Feb 19, 2009 12:16pm Feb 19, 2009 12:16pm
Quoting psiholog
yep...the only problem is identifying when. i think now is the time with this W in the forming...with current fundamental events though....any buy should be exercised with care...we gapped and continued down for a reason. note that ibfx didnt even fill in the gap...not even sure about where the real market close and open was. and of course...this is the asian session...we wont see any real moves (usually) until europe session or later
yeah.. to the other wall...
  • #250
  • Feb 20, 2009 4:38am Feb 20, 2009 4:38am
Psiholog, I miss your market analysis. Do you have some opinion about current movements?

Do you see some channel forming now?

I am learning a lot of from your method... thanks
  • #251
  • Feb 20, 2009 6:40am Feb 20, 2009 6:40am
Quoting miroslavdm
Psiholog, I miss your market analysis. Do you have some opinion about current movements?

Do you see some channel forming now?

I am learning a lot of from your method... thanks
i have taken things over to the eur/usd thread for now. this market this month has not been best for "channels". instead i only look for strong supports and resistances for now as well as Ws and Ms as they happen pretty much every day. there is no real trend up or down..its just a range. when 1.2700 got broken to the downside, nothing more happened, a new range began. Looking back to november, we are in pretty much the same kind of scenario. So yea, check out my posts in eur/usd if you want or just search for my name and latests posts, ill start posting here again when we start a true trend, up or down
Different opinions highly valued, ignorant to slander.
  • #252
  • Feb 20, 2009 11:29am Feb 20, 2009 11:29am
Quoting psiholog
i have taken things over to the eur/usd thread for now. this market this month has not been best for "channels". instead i only look for strong supports and resistances for now as well as Ws and Ms as they happen pretty much every day. there is no real trend up or down..its just a range. when 1.2700 got broken to the downside, nothing more happened, a new range began. Looking back to november, we are in pretty much the same kind of scenario. So yea, check out my posts in eur/usd if you want or just search for my name and latests posts, ill start...
Can I know your opinion about price movment channel.

If the price is starting to buy what should i do due to the channel only can be draw after 2nd spike.
  • #253
  • Mar 14, 2009 3:01am Mar 14, 2009 3:01am
Quoting psiholog
i have taken things over to the eur/usd thread for now. this market this month has not been best for "channels". instead i only look for strong supports and resistances for now as well as Ws and Ms as they happen pretty much every day. there is no real trend up or down..its just a range. when 1.2700 got broken to the downside, nothing more happened, a new range began. Looking back to november, we are in pretty much the same kind of scenario. So yea, check out my posts in eur/usd if you want or just search for my name and latests posts, ill start...
i have decided to revive my thread for now. this is due to the fact the market got moving again!....so here goes my current analysis (posted it in eur/usd thread as well)

this last week we have seen a strong euro rally! this has been entirely based on the us stock market rallying based on citibank fundies (load of bs if you ask me) as well as the china "worries" about owning US treasuries. Of course theres the speculation OPEC will cut oil production (highly doubt it) which lead commodities higher in general giving a boost to the euro as well. still...i find it all as nonsense and the real trend is still down with new lows to be reached in the next few months.

current technical analysis

we have been in an uptrend all week (blue trendlines) and we have currently reached a very strong resistance around the 1.3000 level. Aside from its psychological implications...this level provides as a double top looking back to last month's high on the 23rd. Now there is also alot of fundamental blah blah going on this weekend that could affect future direction. OPEC meeting, G20meeting, Bernanke interview on 60minutes (not sure about this), paulson's replacement's speech (forget his name). Clearly all this information coming out could make any technical analysis void but for now I will post the chart as i see it developing given my long term bias. I am long term bearish btw as nothing has fundamentally changed in the past week except for some "statements" that hold no proof of change whatsoever.

in the coming days i see a possible retest of 1.2991 (as high as 1.3000.possibly a bit higher but not much more room to the upside) followed by a drop to 1.2500 levels completing an M which will create enough fire for another 500pipper drop to at least 1.2000...momentum alone should allow us to break through those levels to the next strong monthly resistance (to be determined).

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be aware...there is alot of speculation in this post as most technical traders do who combine the fundamental element. This long term view does not affect my trading...I still buy/sell or whatever based off certain entry signals only (whether its a pattern developing or strong S/R level..depends on the occasion). Also be aware that the current range is 1.3300 to 1.2300 (goes back to november)....until a decisive break of this range..we are all in scalp territory with only guesses of the long term bias...including this M i have drawn. For all i know...we will gap over 100pips up come sunday open..time will tell so use this interpretation as an idea at best
Different opinions highly valued, ignorant to slander.
  • #254
  • Mar 14, 2009 9:41am Mar 14, 2009 9:41am
I try to adapt your trading style. I understand the difficulty to get a right time to buy/sell.

I believe you have some extra confident to buy/sell which unpredicted price movement. Whether you have calculated the risk it still for me not enough to believe that the price will follow the standard movement (m/w/S/R).

I hope you can open some our mind how to trade from beginning without to much on waiting and waiting. I reading and lessoning your trade which i believe you can lead all new trader using the basic price movement. Or you is same with me or the rest of the trader here which still believe the price is follow the same standard (w/m/r/s).


Thanks

have risk but no



Quoting psiholog
i have decided to revive my thread for now. this is due to the fact the market got moving again!....so here goes my current analysis (posted it in eur/usd thread as well)

this last week we have seen a strong euro rally! this has been entirely based on the us stock market rallying based on citibank fundies (load of bs if you ask me) as well as the china "worries" about owning US treasuries. Of course theres the speculation OPEC will cut oil production (highly doubt it) which lead commodities higher in general giving a boost to the euro as well....
  • #255
  • Mar 14, 2009 1:47pm Mar 14, 2009 1:47pm
Quoting hafizal79
I try to adapt your trading style. I understand the difficulty to get a right time to buy/sell.

I believe you have some extra confident to buy/sell which unpredicted price movement. Whether you have calculated the risk it still for me not enough to believe that the price will follow the standard movement (m/w/S/R).

I hope you can open some our mind how to trade from beginning without to much on waiting and waiting. I reading and lessoning your trade which i believe you can lead all new trader using the basic price movement. Or you is same...
i think what your asking me is about my mentality when a known S/R level is reached and lets say a pattern forms along the way. How do i decide what direction to enter in at that time correct?, what makes me go buy instead of sell or stay flat instead of enter. To get a better idea of this...you should check my posts this last week in eur/usd thread (ignore the non technical analysis ones). I talked alot about entries and exits there and the mentality behind it (especially with the W pattern as it repeated so often). I will do this in the future though in this thread as well....explain my mentality behind certain trades because as pretty as my method may be (i consider it art haha)...its only best understood when the guy using the method most explains it clearly. Does this answer your post?
Different opinions highly valued, ignorant to slander.
  • #256
  • Mar 14, 2009 7:26pm Mar 14, 2009 7:26pm
this thread is now closed. admins please delete it asap.

i am 22 years old. i am trying to make forex the foundation for the rest of my life. i have had a difficult first year of trading. i have shut off communication with the outside world to focus only on my career. i have found a refuge in FF. a place where individuals with like minded goals gather to discuss the bussiness most of us are involved in. during my ff stay i have tried to describe my trading methods as much as possible. i have reached the stage in my trading where i enjoy sharing my views more then anything else, help others see my perspective. not as the holy grail to trading but something else to think about. to do this best i had to talk from experience as there is no other way to prove one's point. on certain occassions certain individuals have clearly expressed their distaste for my methods. i am 22 years old. when individuals twice my age lower themselves to the mentality of a 10 year old and insult me, i take great offense as all i ever tried to do is share my perspective. this caused my mentality to drop to that of a 10 year old and give my rebuttal. these incidents have repeated on one too many occassions. My passion for sharing freely my observations exists no more. I have said before I am gone. Not one time, not two times..several times. This time it is for real. The greatest insult came from one of the people I look up to the most in this forum. Mr Bernac. FF is not a refuge anymore. It has become a drama campaign and I am right in the center of it. Time for me to make my dramatic exit as I dont need this. The old saying...give one finger and theyll take off the whole hand....eventually the head..never rang truer in my mind.

A word of advice for those who may read this, do not post anything other then your charts and reasons for entries/exits. Be it strategy or MM or anything involved with FF. You give just one extra bit of information not regarding Forex, may be even as simple as political affiliation or how great a job Obama is or is not doing (which does implicate fundamentals)...there will always be at least one person out there to provoke you. Difference in opinion is acceptable, in fact i encourage it...if everyone thought the same this world would be boring and dull. Its the individuals who provoke you with insults that will get to you...be prepared for them or use your ignore list. I sadly was not able to do either as its not my personality....best of luck to you though.

Good pippin all, my grand finale post at FF is done with now
Different opinions highly valued, ignorant to slander.
  • #257
  • Last Post: Mar 14, 2009 8:53pm Mar 14, 2009 8:53pm
Thanks a lot for the information and strategy that you already outline in this forum.

I very grateful if i can see you face to face and know you more closely.

About the FF, i think some trader is nearly confuse me with dumb strategy or indicator which unknown basic foundation.

It just likes a fade when trading. I don't like it.

I hope you can comeback with enhancement of your trading systems.

thanks alot.




Quoting psiholog
this thread is now closed. admins please delete it asap.

i am 22 years old. i am trying to make forex the foundation for the rest of my life. i have had a difficult first year of trading. i have shut off communication with the outside world to focus only on my career. i have found a refuge in FF. a place where individuals with like minded goals gather to discuss the bussiness most of us are involved in. during my ff stay i have tried to describe my trading methods as much as possible. i have reached the stage in my trading where i enjoy sharing...
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