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  • #75,901
  • Mar 16, 2009 5:51am Mar 16, 2009 5:51am
Quoting SmoothTrader
Doesn't seem to be much strength on breaking the top of the flag.

May be getting tired??
Another bump would not surprise me (hence the 1.307 post) but expecting drop soon after...
  • #75,902
  • Mar 16, 2009 5:59am Mar 16, 2009 5:59am
Interesting, every few months most of the traders on this thread change and keep repeating the same mistakes until they learn... The blood of the bears is splattered across the walls and everybody still rushes in to join them.
On the path to Enrichment.
  • #75,903
  • Mar 16, 2009 6:06am Mar 16, 2009 6:06am
Quoting Jurrasic
Interesting, every few months most of the traders on this thread change and keep repeating the same mistakes until they learn... The blood of the bears is splattered across the walls and everybody still rushes in to join them.
The slaughter house needs new meat
Traders are smartasses
  • #75,904
  • Mar 16, 2009 6:09am Mar 16, 2009 6:09am
Seems there could be a possibility it will go as per Derek's forecast - 1.3145 if not mistaken
  • #75,905
  • Mar 16, 2009 6:11am Mar 16, 2009 6:11am
It won't worry me if we hit 1.31 or even 1.33. I actually picked 1.32 last week for a rebound to happen this week.

We could have a W on the daily which would mean I'm going to be closing some positions for a loss. But it looks more like a pennant... and if it is a pennant that's forming, I ain't about to miss that train...
  • #75,906
  • Mar 16, 2009 6:14am Mar 16, 2009 6:14am
... ought to give a 20 pip scalp up.
I won't take it because I' waiting for a short signal.
Good Trading. (keep it simple).
  • #75,907
  • Mar 16, 2009 6:18am Mar 16, 2009 6:18am
Closed one of those shorts at BE. Gonna let the other ride.
  • #75,908
  • Mar 16, 2009 6:22am Mar 16, 2009 6:22am
i think it's now time for short.....
The trend is your friend and you is your enemy - MJ
  • #75,909
  • Mar 16, 2009 6:24am Mar 16, 2009 6:24am
Quoting F.x.
Closed one of those shorts at BE. Gonna let the other ride.

I have -1200 floating pips ...but i'm still very sure that we will see below 1.26 this month
  • #75,910
  • Mar 16, 2009 6:27am Mar 16, 2009 6:27am
Just closed the other (large-order) short for $ at completion of "M" on the 1min chart.

Will continue to build smaller-order shorts if we continue up from here. I don't think this is the big drop just yet...
  • #75,911
  • Mar 16, 2009 6:28am Mar 16, 2009 6:28am
Quoting essenza
I have -1200 floating pips ...but i'm still very sure that we will see below 1.26 this month
-1200 pips...wow.... i hope your prediction is right.....
The trend is your friend and you is your enemy - MJ
  • #75,912
  • Mar 16, 2009 6:30am Mar 16, 2009 6:30am
Quoting Moneys Lover
i think it's now time for short.....
Wait for a test of the 1.3060, before you jump.
Good Trading. (keep it simple).
  • #75,913
  • Mar 16, 2009 6:32am Mar 16, 2009 6:32am
Quoting Jasper
Wait for a test of the 1.3060, before you jump.
yeah....i think you are right..... close only 13 pips..... :|
The trend is your friend and you is your enemy - MJ
  • #75,914
  • Mar 16, 2009 6:33am Mar 16, 2009 6:33am
Quoting essenza
I have -1200 floating pips ...but i'm still very sure that we will see below 1.26 this month
WOW!
You know, essenza, there come a time in any trader's career where they have to admit defeat. $1,200 down ... I would have admitted defeat hundreds ago.

Good luck to you my friend.
  • #75,915
  • Mar 16, 2009 6:33am Mar 16, 2009 6:33am
Quoting Jasper
Wait for a test of the 1.3060, before you jump.
Totally agree with you. Based on the PA, I feel there is still strength in the bull.

Big drop may not come so soon but I hope it will.
  • #75,916
  • Mar 16, 2009 6:35am Mar 16, 2009 6:35am
Quoting Jhig
WOW!
You know, essenza, there come a time in any trader's career where they have to admit defeat. $1,200 down ... I would have admitted defeat hundreds ago.

Good luck to you my friend.
Could be a micro account or even demo account.

I would've sleepless night counting 1200 pips, I mean sheep.
  • #75,917
  • Mar 16, 2009 6:38am Mar 16, 2009 6:38am
Quoting Jhig
WOW!
You know, essenza, there come a time in any trader's career where they have to admit defeat. $1,200 down ... I would have admitted defeat hundreds ago.

Good luck to you my friend.

don't worry, it have to go above 1.5 to get a margin call. I'm piling up small short while hedging, so big red pips small quantity increasing equity, it works both ways.
  • #75,918
  • Mar 16, 2009 6:40am Mar 16, 2009 6:40am
Quoting essenza
I have -1200 floating pips ...but i'm still very sure that we will see below 1.26 this month
sorry may i ask ,noob question, lets say, from 1.200 to 1.300 thats 1000 pips isnt it?
  • #75,919
  • Mar 16, 2009 6:44am Mar 16, 2009 6:44am
Quoting sed
sorry may i ask ,noob question, lets say, from 1.200 to 1.300 thats 1000 pips isnt it?
Hey sed,
Do you mean, from 1.2000 to 1.3000? If so, yes, that is 1000 pips
  • #75,920
  • Mar 16, 2009 6:46am Mar 16, 2009 6:46am
If we close below the 20 level on the 5min time frame then I think we will go lower--at least until we hit the 1.3000 level. So I'm waiting for a close under the 20 level.

Double high with a lower close is found on the 5min time frame.

edit: looks like i may already have been proved wrong.
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