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  • #72,161
  • Mar 6, 2009 12:08am Mar 6, 2009 12:08am
Quoting psiholog
whoa what a nasty little uptrend. actually quite the opposite...a traders favorite move if they catch the trend. i surely did not..was too fixated on that 1.2565 level and got stopped out on that small positions...no worries.

SO where do we stand now..possible double top formation here or M...that uptrend channel was just broken as well. as neckline is around 1.2680...this would put us back at the 1.2625 level....no surprise there as that was the most played level this week put together with 1.2565. Lets see now


Btw...to those...
And the H4 picture.....
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  • #72,162
  • Mar 6, 2009 12:08am Mar 6, 2009 12:08am
Quoting Jasper
Think you are OK on that short.( I hope so also).

Good Trading.
I've closed out, it don't look good now.
Good Trading. (keep it simple).
  • #72,163
  • Mar 6, 2009 12:10am Mar 6, 2009 12:10am
I was talking about different gap, not the ordinary on dailies, nevermind, it's part of my scalping system, just got +10 fast pips. Have to work really hard now to get my 40 pips back.

Back to scalping.
  • #72,164
  • Mar 6, 2009 12:17am Mar 6, 2009 12:17am
Quoting T.E.Lawrence
I was talking about different gap, not the ordinary on dailies, nevermind, it's part of my scalping system, just got +10 fast pips. Have to work really hard now to get my 40 pips back.

Back to scalping.
I still see a good short in this area, and would be prepared to re enter.

good Trading.
Good Trading. (keep it simple).
  • #72,165
  • Mar 6, 2009 12:17am Mar 6, 2009 12:17am
dont matter since today is nfp but the 10 day atr is 192.8 and we have passed it with 194..
those who can, do. those who cant, talk about those who can
  • #72,166
  • Mar 6, 2009 12:18am Mar 6, 2009 12:18am
Quoting T.E.Lawrence
I was talking about different gap, not the ordinary on dailies, nevermind, it's part of my scalping system, just got +10 fast pips. Have to work really hard now to get my 40 pips back.

Back to scalping.
come on any good scalping to share?
  • #72,167
  • Mar 6, 2009 12:19am Mar 6, 2009 12:19am
This morning made already + 176 pips with two positions heading 1.2700 left open since yesterday.
Personally, I don't believe this pair will go higher than 1.2740/70 and I'm short already with target 1.2400 (so far).
The upcoming news for today can move PA of course but in the big picture trend is still down and chances to see the roof are higher than to see the ceiling...just my 2 cents.

Happy pipping all
  • #72,168
  • Mar 6, 2009 12:20am Mar 6, 2009 12:20am
Quoting Jasper
I've closed out, it don't look good now.
Wrong, it always looks good. You just have to realign your vision to what you see on the charts.
Are you at a loss, close it or hedge it and wait for a better moment for you.
That better moment will always come and sooner than you might think.

Just don't let losers run and cut off winners. That's exactly the opposite of what you should do.

You think your loss it too big to close it? (I thought that a thousand times in my first 2 years as forex trader), then you entered with poor money management in the first place and you need to improve that.

It took me more than 2 years to get consistent profits in forex, mostly because I thought I was right while more experienced people told me I was wrong. And I didn't believe them.


Shamu


Good night.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #72,169
  • Mar 6, 2009 12:21am Mar 6, 2009 12:21am
Quoting Jasper
I still see a good short in this area, and would be prepared to re enter.

good Trading.

1M showing SHORT chance for scalping!!!!
1,2690
  • #72,170
  • Mar 6, 2009 12:21am Mar 6, 2009 12:21am
Quoting Jasper
I still see a good short in this area, and would be prepared to re enter.

good Trading.
Re entered at 1.2688.

Good Trading.
Good Trading. (keep it simple).
  • #72,171
  • Mar 6, 2009 12:21am Mar 6, 2009 12:21am
I don't look for gaps... gash's maybe.
In the days of old when sailors were bold, and seldom if ever contented.
  • #72,172
  • Mar 6, 2009 12:22am Mar 6, 2009 12:22am
Quoting Spsantos
And if you check te 15m TF, you see a bullish flag... eck, i love fractals
it does appear like it...clearer on the 5min chart actually as pa has moved to quickly to see it nicely on the 15min chart (we just got here!). personally..i like to check out the timeframe most relevant to pa...like in this case we have seen candles well over 20pips on the 1min chart which is why i like to look at the 1min chart as pa will develop just as quickly as when we moved up. its all a matter of interpretation really..
Different opinions highly valued, ignorant to slander.
  • #72,173
  • Mar 6, 2009 12:25am Mar 6, 2009 12:25am
I'm short from 1.2697.
  • #72,174
  • Mar 6, 2009 12:27am Mar 6, 2009 12:27am
btw here is what spsantos said so all can see...the bull flag.

my M did not hold up and im most likely going to get stopped out here =/

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Different opinions highly valued, ignorant to slander.
  • #72,175
  • Mar 6, 2009 12:30am Mar 6, 2009 12:30am
hi guys
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  • #72,176
  • Mar 6, 2009 12:32am Mar 6, 2009 12:32am
Quoting psiholog
it does appear like it...clearer on the 5min chart actually as pa has moved to quickly to see it nicely on the 15min chart (we just got here!). personally..i like to check out the timeframe most relevant to pa...like in this case we have seen candles well over 20pips on the 1min chart which is why i like to look at the 1min chart as pa will develop just as quickly as when we moved up. its all a matter of interpretation really..
Sure it is psi, it's always nice to match our views on this, I went back to check the TFs after such move to get an hint, price hasn't been making lower lows yet, even after London open it still is pretty much flat, consolidation? Distribution?

1m chart shows U shaped bottoms, as if bulls are "loading up".

We can even distinguish an inverted shampoo on the 4H...

Tough call, i'm out for now, but more biased to another small push up. To exhaust the remaining steam before NFP.

Waiting game i guess...
Traders are smartasses
  • #72,177
  • Mar 6, 2009 12:32am Mar 6, 2009 12:32am
Quoting Legio_Ulpia
This morning made already + 176 pips with two positions heading 1.2700 left open since yesterday.
Personally, I don't believe this pair will go higher than 1.2740/70 and I'm short already with target 1.2400 (so far).
The upcoming news for today can move PA of course but in the big picture trend is still down and chances to see the roof are higher than to see the ceiling...just my 2 cents.

Happy pipping all
I gues you ment chances to see the roof are lower than to see the ceiling, am i right? I gues so, if trends is still down?

So it seems like yeasturdays antry longs was not so bad at 2482 area, that was not so bad idea to start building longs from that drop down. Todays rise is crazy but as fast as it went up it may go back down. So have your S/P, T/P ready,
I`m currently having some long term shorts but i also did open long to collect some profit on this bounce to the top. We already have double top and both those prices 2716, 2724 was rejected and after getting up there it went down fast.

F.x. I wonder if you managed to wait with rest of those long from y-day till it got to 2700, or you took profit before it happened.

Now i`m afraid we can have some massive move down after todays action and that it can easilly get to the bottom of 24xx.

Looking on monthly chart the first leg of big "W" was at ~2320.
  • #72,178
  • Mar 6, 2009 12:33am Mar 6, 2009 12:33am
Quoting T.E.Lawrence
I'm short from 1.2697.
Best of luck buddy, I hedged my short now out of it... hedged long at 1.2608

Next resistance level looks to be around 1.2780
In the days of old when sailors were bold, and seldom if ever contented.
  • #72,179
  • Mar 6, 2009 12:34am Mar 6, 2009 12:34am
wave variant
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  • #72,180
  • Mar 6, 2009 12:34am Mar 6, 2009 12:34am
We Had a important break today!!


Levels to watch:
1.2777
1.2833
1.2899 Important level, a cross here and then if 1.3177 do not hold, remember December!!
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