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  • #70,581
  • Mar 3, 2009 11:00am Mar 3, 2009 11:00am
There are bullish patterns forming in the longer time frames I don't think going long at this time is a bad idea.
  • #70,582
  • Mar 3, 2009 11:01am Mar 3, 2009 11:01am
Quoting Passholder
I am willing to lose 100 pips on this trade. It is based on almost no sound reasoning... but

I just went long at 1.2550 I dont have a target price yet and i WILL actually put a stop at 1.2450.

I think 1.2512 holds for now, and I think the stock market closes GREEN today.

I feel like I see a little $$ weakness across the majors and th E/$ is extremely short right now.

G/L If it draws me down so be its a flyer. If iot gets up 30 or 40 I will close 25% and move stop to BE
you do know s&p is at a newer low since 96?
those who can, do. those who cant, talk about those who can
  • #70,583
  • Mar 3, 2009 11:02am Mar 3, 2009 11:02am
Quoting SunTrader
I continue to sound like a broken record but the trend is down so it is the longs that have to beware.
Its a 50/50 chance. You could be right, I am sure will know soon enough.
  • #70,584
  • Mar 3, 2009 11:03am Mar 3, 2009 11:03am
Quoting SunTrader
I continue to sound like a broken record but the trend is down so it is the longs that have to beware.
i kinnda wish it did spike up to re enter the short positions i got out of already..
those who can, do. those who cant, talk about those who can
  • #70,585
  • Mar 3, 2009 11:04am Mar 3, 2009 11:04am
Quoting Terminale
I think you will not be stop losed . but a better entry will be 1.2475.
Well with all due respect I think that if 1.2512 gives way in a legit matter 1.2475 may get whacked minutes later. Hell if 1.2512 gives way with any gusto my stop at 1.2450 may get whacked fast too.

Again its a much less justified entry. There were just a couple of majors I was watching where the dollar didnt seem to have the muscle today.

In fact specifically when the GBP/$ dipped to 1.3985 it rocketed back up 35 pips in a handfull of ticks.

1.2550 long is in no way a sentiment change, it is def counter trend
+ Charts Happen
  • #70,586
  • Mar 3, 2009 11:05am Mar 3, 2009 11:05am
As I said I just see the DOW going GREEN today.

I still think E/$ sees 1.000 long term couple of youknow where I stand on that LOL
+ Charts Happen
  • #70,587
  • Mar 3, 2009 11:06am Mar 3, 2009 11:06am
Quoting MackS10
Its a 50/50 chance. You could be right, I am sure will know soon enough.
Not a question of right or wrong but on what timeframe one is trading on and looking at.
  • #70,588
  • Mar 3, 2009 11:07am Mar 3, 2009 11:07am
Why even bother to trade a pair when you're uncertain of it's direction. Find a pair which you're more certain on if you're not a good 80% sure of the direction on any given E/U trade. It's much better to stay out than speculate. If you place a trade on a whim, uncertain in your own mind and analysis, then you've got deeper rooted problems, which will eventually whipsaw you over and over again until you have a crippled account.
Probability Professor
  • #70,589
  • Mar 3, 2009 11:07am Mar 3, 2009 11:07am
Quoting SunTrader
Not a question of right or wrong but on what timeframe one is trading on and looking at.
I trade hourlies but peek at 10 minutes just to make sure timing is not GOD awful
+ Charts Happen
  • #70,590
  • Mar 3, 2009 11:08am Mar 3, 2009 11:08am
Quoting Galation
Why even bother to trade a pair when you're uncertain of it's direction. Find a pair which you're more certain on if you're not a good 80% sure of the direction on any given E/U trade. It's much better to stay out than speculate. If you place a trade on a whim, uncertain in your own mind and analysis, then you've got deeper rooted problems, which will eventually whipsaw you over and over again until you have a crippled account.
Its not going to cripple anything this time (again) my stop is at BE !!
+ Charts Happen
  • #70,591
  • Mar 3, 2009 11:09am Mar 3, 2009 11:09am
is that eric canter guy talking on cnbc. that bob guy on that male enhancement commercial?
those who can, do. those who cant, talk about those who can
  • #70,592
  • Mar 3, 2009 11:10am Mar 3, 2009 11:10am
This is the US$ index daily chart. Nearest resistance is 91/92 area so IMO there is room to move a little higher before any major resistance. Even then it might only be short term. We shall see. But can anyone spot weakness right now? I sure can't.
Attached Image (click to enlarge)
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  • #70,593
  • Mar 3, 2009 11:12am Mar 3, 2009 11:12am
Quoting MackS10
1H divergence points up, beware shorts.

Correlated pair says USDCHF negative divergence to price is going down. So EUR/USD will go up
http://4.bp.blogspot.com/_sj5wN7PNZB...9%2Beurusd.gif
Attached Image
Forex Price Action Hacked - Price Action Rockstar
  • #70,594
  • Mar 3, 2009 11:13am Mar 3, 2009 11:13am
Quoting SunTrader
This is the US$ index daily chart. Nearest resistance is 91/92 area so IMO there is room to move a little higher before any major resistance. Even then it might only be short term. We shall see. But can anyone spot weakness right now. I sure can't.
STer I told you I have a long term E/$ of 1.000 but I said I saw some dollar weakness when the E/$ was at 1.2550. Did I know see short term weakness?? The sucker shot 25 pips with in minutes of me posting my trade.

Now I have closed 25% of the pos at 1.2570 (+20) and I have the rest at BE which gives me a loss t profit ratio of $0.00/(+20)+(TBD)
+ Charts Happen
  • #70,595
  • Mar 3, 2009 11:13am Mar 3, 2009 11:13am
Inserted Video
Going to make it big by age 21.
  • #70,596
  • Mar 3, 2009 11:16am Mar 3, 2009 11:16am
Quoting doseone
There are bullish patterns forming in the longer time frames I don't think going long at this time is a bad idea.
Care to elaborate on that, or must we guess... I'm thinking quite the opposite ((for position entries, not scalps)) based on the trend and failed bull runs all night. ((Charts posted elsewhere))

Don't confuse what could easily have been massive stop losses getting eaten for buying setiment.

Takes time to bite, chew, swallow, and digest before coming back for seconds. I take some time before deciding what I think I'm seeing when I look at something in this market... And if it doesn't make any sense, I walk away.

Not Everything has to be Something all the time...
FUBAR...
  • #70,597
  • Mar 3, 2009 11:20am Mar 3, 2009 11:20am
im not putting money where mouth is on the way up .. but do think we will see at least 2602/2618... in the next hour...
those who can, do. those who cant, talk about those who can
  • #70,598
  • Mar 3, 2009 11:22am Mar 3, 2009 11:22am
I always spotted chart patterns and breakout from TD trendline either for divergence or 123 top/bottoms.
However I fear for my profits and that they will disappear instead of waiting for them to reach the price target I got out fast.

In short I cut my profits as I fear they will vapourise
I let my losses run as I hope they turn positive.

Anyone has this effect?
Forex Price Action Hacked - Price Action Rockstar
  • #70,599
  • Mar 3, 2009 11:22am Mar 3, 2009 11:22am
reason geitner is gonna speak
those who can, do. those who cant, talk about those who can
  • #70,600
  • Mar 3, 2009 11:22am Mar 3, 2009 11:22am
Quoting gatorinla
im not putting money wear mouth is on the way up .. but do think we will see at least 2602/2618... in the next hour...
im with ya from 2540 tp 2600 sl 2550
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