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  • #70,961
  • Mar 4, 2009 12:49am Mar 4, 2009 12:49am
Quoting c-note
at last ! some movement. looking for a short around 1.2520/30 otherwise I'll wait and buy a bounce off support at1.2455/60. Then again I may just sit here totally confused with that deer in headlight look
Not good enough, needs to be higher for a short. At least for me.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #70,962
  • Mar 4, 2009 12:56am Mar 4, 2009 12:56am
Quoting KillerWhale
Not good enough, needs to be higher for a short. At least for me.
sure it's good enough. you want to sell higher then go ahead.deopends on p/a
  • #70,963
  • Mar 4, 2009 1:00am Mar 4, 2009 1:00am
still in my short, which doesn't look that good after this move up. Whatever happens sl is in place, but I would rather have my tp hit .
Will be an interesting evening either I have to get drunk as I am depressed(sl hit) or because I am extremly happy (tp hit) either way I have to get drunk.
1. beer of the evening.
good trading everyone
Trade on your own risk Plan your trade&trade your plan dont be a
  • #70,964
  • Mar 4, 2009 1:08am Mar 4, 2009 1:08am
the recent move made me nearly spill my beer uuh seems as if someone tries to get the shorts stopped out and then continue down......
Trade on your own risk Plan your trade&trade your plan dont be a
  • #70,965
  • Mar 4, 2009 1:17am Mar 4, 2009 1:17am
apparently some sellers still at 1.2530 area. sold at 1.2527 and exited at 1.2516 for a scalp.should revisit that level and I will sell again hopefully to target asian session lows
  • #70,966
  • Mar 4, 2009 1:28am Mar 4, 2009 1:28am
Quoting Jay Walker
That may be. I'm in a long too but make sure you don't get caught with your pants down. Keep your S/L tight and preferably in the profit zone.

If this thing does drop, it will be massive.

Closed some of my long but still keeping a bit in. Also opened a short at 2514. I'm still looking for 1.23 zone w/ a strong bounce.

No S/L's for me.
  • #70,967
  • Mar 4, 2009 1:30am Mar 4, 2009 1:30am
if price gets above 1.2550 next level of supply where there should be some sellers is 1.2580/00.depends on the euro land big boys (and girls)
  • #70,968
  • Mar 4, 2009 1:34am Mar 4, 2009 1:34am
Quoting F.x.
No S/L's for me.
There's a book out there called "How to blow your Forex account"

It's a short book consisting of a single 8 1/2 by 11 sheet.

It's printed on it in font 72 "No S/L"
Not all sins are created equal
  • #70,969
  • Mar 4, 2009 1:41am Mar 4, 2009 1:41am
p/a not saying short yet
  • #70,970
  • Mar 4, 2009 1:41am Mar 4, 2009 1:41am
Quoting Jay Walker
There's a book out there called "How to blow your Forex account"

It's a short book consisting of a single 8 1/2 by 11 sheet.

It's printed on it in font 72 "No S/L"

Nah.. exact opposite in my experience.
  • #70,971
  • Mar 4, 2009 1:42am Mar 4, 2009 1:42am
May go to 1.2575 area.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #70,972
  • Mar 4, 2009 1:43am Mar 4, 2009 1:43am
it appears that shorts are not breathing well.
most of the stock markets are up.. DOW future is +80 which is a really bullish number.

For the skeptics about DOW and EURUSD correlation, just look at the EURUSD and DOW for the last 3 years.
  • #70,973
  • Mar 4, 2009 1:47am Mar 4, 2009 1:47am
Quoting F.x.
Nah.. exact opposite in my experience.
I don't know how long you've been trading but it's bit everyone in the ass at one point or another. It can be a power failure, the platform freezing, spontaneous combustion, whatever. Eventually, it always bites someone in the ass when you trade with no S/L.
Not all sins are created equal
  • #70,974
  • Mar 4, 2009 1:48am Mar 4, 2009 1:48am
Quoting ragnakore
it appears that shorts are not breathing well.
most of the stock markets are up.. DOW future is +80 which is a really bullish number.

For the skeptics about DOW and EURUSD correlation, just look at the EURUSD and DOW for the last 3 years.
up 130 points to be exact
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #70,975
  • Mar 4, 2009 1:49am Mar 4, 2009 1:49am
hello guys...good pippin to all who caught the ride south after 1.2565 (the enormous support) was broken.

current technical analysis. the 1.2565-1.2625 range was broken shortly after the us session closed to the downside. since then..we have consolidated back up to 1.2535 which was the last low before the break and a potential continuation to 1.2565 is to come. What happens there if reached is crucial..like any breakout goes..it is important whether it has become resistance or this whole move south was a false break down (if we can get past 1.2535 which was again the last low). Current bias is neutral...the ecb rate decision is less then 30 hours away..alot can happen between now and then depending on how market makers want to push pa.


Sidenote: that trade you see..locked in 50pips at 1.2535 so im currently flat and awaiting next entry...either a retest of 1.2565 or another break of the oh so psychological 1.2500 level

Attached Image (click to enlarge)
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Different opinions highly valued, ignorant to slander.
  • #70,976
  • Mar 4, 2009 1:52am Mar 4, 2009 1:52am
small short here at 1.2529 to test the waters
  • #70,977
  • Mar 4, 2009 1:53am Mar 4, 2009 1:53am
as channels are a big part of my strategy note the current downtrend...add that together with the previously mentioned strong horizontal supports/resistances..you can understand why that 1.2565 is so crucial

Attached Image (click to enlarge)
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Edit:clicking on my chart i see the upper part of the shadow is not shown in the image...surely it is an error..the highest spike does start where the blue trendline begins...1.2677

Double edit: note that i have a trendline drawn as support at the 1.2475 level..that very well could be up to 1.2485..how did i determine it?...just by looking back at pa when we were in this area in past years...acted as strong resistance/support for many weeks
Different opinions highly valued, ignorant to slander.
  • #70,978
  • Mar 4, 2009 1:57am Mar 4, 2009 1:57am
stop at b.e.-1.2508 could pose a problem
  • #70,979
  • Mar 4, 2009 2:03am Mar 4, 2009 2:03am
Quoting Jay Walker
I don't know how long you've been trading but it's bit everyone in the ass at one point or another. It can be a power failure, the platform freezing, spontaneous combustion, whatever. Eventually, it always bites someone in the ass when you trade with no S/L.
Doesn't bother me a bit when those things happen and I have open trades. I just take a nice long coffee break until things come back online. I like breaks.

I can also track the moment I went from making consistent losses to making consistent profits and it matches up to the day with the moment I stopped setting SL's.

I have a theory that there is a direct corellation between the percentage of people that will tell you to always set a stop loss and the percentage of traders that fail.
  • #70,980
  • Mar 4, 2009 2:08am Mar 4, 2009 2:08am
Quoting c-note
small short here at 1.2529 to test the waters
bingo nice
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