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  • #76,881
  • Mar 18, 2009 9:30am Mar 18, 2009 9:30am
Just opened a HUGE short target .08423 omg Im gonna be RI$H!!!!

  • #76,882
  • Mar 18, 2009 9:31am Mar 18, 2009 9:31am
Quoting mohfaid
Dear Forbess

I hold a short from 1.2570 ,, and with each up I said time to short again and no,,it is up and up

I was thinking that the last thing in this up movement is the 1,3090 Area,,,,I hope a daily close today down it

On monthly basis,,it must go down,,,,right ??
Friend, I have shorted from 1.2640, still has it.
  • #76,883
  • Mar 18, 2009 9:33am Mar 18, 2009 9:33am
Quoting trader8686
Friend, I have shorted from 1.2640, still has it.
What makes you think the market will plunge down that far? My threshold is only -20pips but today my lots size is big hoping price will go further down at your level would be great tooooo....

I have a question by Van Tharp. It mention that we should cut our losses and let our profit run. My wife mention that in Forex price will go up and down regardless of events due to time. She also said that the key to this game is not about being right it is about whose account is big or how big is your leverage for the maximum drawdown before you get a margin call or you take profit whichever comes first.

So which is correct? If your pips is negative so what? As long as your lot size is small comparable to your capital and it has the stomach to let it go -100pips or more as long as your margin level is over 10000% a little bit of drawdown does not affect you? Which makes sense?

Price break that stupid support you can do it. 1.3114
Forex Price Action Hacked - Price Action Rockstar
  • #76,884
  • Mar 18, 2009 9:34am Mar 18, 2009 9:34am
Quoting Forbes55
time is coming to short this thing!
This POS is coming back to reality.

m
  • #76,885
  • Mar 18, 2009 9:36am Mar 18, 2009 9:36am
Quoting Jasper
....hoping for a run up to 1.3186, and then????
You get stopped out.

m
  • #76,886
  • Mar 18, 2009 9:36am Mar 18, 2009 9:36am
Quoting pit73
just in case you have not noticed yet: in europe, only some (economically smaller) countries have problems, where the USA are completely bankrupt.
Really America is not bankrupt, look at the leverage in Europe the people are bankrupt, they post no collateral and buy houses Europe is finished. Europe cannot feed itself mate they are importing more and more food.
  • #76,887
  • Mar 18, 2009 9:39am Mar 18, 2009 9:39am
Quoting acumen
This POS is coming back to reality.

m
yea i have been saying that also for 10 days but it hasn't keep getting stopped out everything i used to do to make pips doesn't work been scalping here and there but have been unsure about a long time trade to the north because i have got burned so many times before once i finally admit its going up there is a big 300-400 pip drop down so ????
  • #76,888
  • Mar 18, 2009 9:40am Mar 18, 2009 9:40am
Quoting trader8686
Friend, I have shorted from 1.2640, still has it.

i'm on 1.258, 1.268, 1.278, 1.294, and now 1.315..TP 1.25
  • #76,889
  • Mar 18, 2009 9:40am Mar 18, 2009 9:40am
Why is everyone upset about the market today? The market has been working within it normal Pivot Levels levels.

1.2992 = Pivot Level (Red Dotted Line)
1.3055 = Pivot S/R level (Red Line)
1.3096 = Pivot S/R Level (Red Line)
1.3159 = Pivot S/R Level (Red Line)
Mid-Level Pivot Points (Black Line)

Market has been playing thos e levels Perfectly this morning. For those that are confused about the market recently, just plot Pivot Levels daily and use with your normal strategy in "predicting" the market moves.
Attached Image (click to enlarge)
Click to Enlarge Name: levels.png Size: 9 KB
  • #76,890
  • Mar 18, 2009 9:41am Mar 18, 2009 9:41am
Quoting SunTrader
There is one pivot point and the others are upper (resistance) and lower (support) levels.

On a monthly basis the pivot is 1.2757

At 1.3143 there is resistance level - a mid level between R1 and R2, if that is what you are referring to? Maybe what some call M3 or M4?
.....sorry my chart wasnt updated...thank you...i apreciate your observation...keep it up. thank to that i have to change my trading plan now...maybe saving me from loosing some pips...
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #76,891
  • Mar 18, 2009 9:42am Mar 18, 2009 9:42am
Quoting acumen
You get stopped out.

m
Not yet, taken 2 lots out at 8 pips as I always take out early, 1 lot still on S/Loss= 1.3100.
Good Trading. (keep it simple).
  • #76,892
  • Mar 18, 2009 9:42am Mar 18, 2009 9:42am
Man

I am a long term trader,,,using large scal charts ( Daily,,weekly,,monthly )

And on monthly chart,,,we are at the end of this fucking up move,,,and will move sharply down again,,and euro with in 3 months Max will be around 1.17 ,,I believe on that

U ?

Quoting trader8686
Friend, I have shorted from 1.2640, still has it.
  • #76,893
  • Mar 18, 2009 9:44am Mar 18, 2009 9:44am
Quoting Passholder
Res at 1.3143 ?? When was that formed last hour ?

Face it open up a 4H chart and see that they blew through 1.3070 which was signifigasnt in early Jan. The next real RES level is 1.3330 the double top from end of DEC.
Just mentioning the difference between the pivot itself and other support/resistance levels. Also this was on a monthly basis.
  • #76,894
  • Mar 18, 2009 9:45am Mar 18, 2009 9:45am
lovely...price forming a H1 pin off of R3 pivot with significant bearish divergence
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 184 KB
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #76,895
  • Mar 18, 2009 9:48am Mar 18, 2009 9:48am
Quoting lloydblankfe
Really America is not bankrupt, look at the leverage in Europe the people are bankrupt, they post no collateral and buy houses Europe is finished. Europe cannot feed itself mate they are importing more and more food.
america has no chance to pay back all the money they borrow now.
(btw same goes for the people, just compare the savings rate.)
if they are lucky, then china and japan will forgo 20% of the bonds.
otherwise they'll HAVE TO bring big inflation to USD.
i'm not saying that europe is not having issues, i'm just saying that america is in way deeper trouble.
  • #76,896
  • Mar 18, 2009 9:52am Mar 18, 2009 9:52am
Quoting mohfaid
Man

I am a long term trader,,,using large scal charts ( Daily,,weekly,,monthly )

And on monthly chart,,,we are at the end of this fucking up move,,,and will move sharply down again,,and euro with in 3 months Max will be around 1.17 ,,I believe on that

U ?
I wish my pockets were deep enough to trade off the bigger time frames,there must be far less stress involved, pehaps not on the retraces??
Good Trading. (keep it simple).
  • #76,897
  • Mar 18, 2009 9:56am Mar 18, 2009 9:56am
Quoting djambazov84
lovely...price forming a H1 pin off of R3 pivot with significant bearish divergence
I'm with you was getting to the buttom of the page and though I was goign to have to post my devegence chart for 1h but yah beat me too it..
If you need something important don't hesitate to ask someone else.....
  • #76,898
  • Mar 18, 2009 9:58am Mar 18, 2009 9:58am
Quoting pit73
america has no chance to pay back all the money they borrow now.
(btw same goes for the people, just compare the savings rate.)
if they are lucky, then china and japan will forgo 20% of the bonds.
otherwise they'll HAVE TO bring big inflation to USD.
i'm not saying that europe is not having issues, i'm just saying that america is in way deeper trouble.
Oh no ... America has every chance of paying back all that money. It's call a HIGHER TAX BRACKET. With all that is going on about the US Government owing other countries money and give Billions to failed Corporations, the Government will payback all that is owed, acquiring monies by increasing taxes to US citizens. At this point, the damage is DONE. Wait a few years, 2-3 maybe, and I guarantee a new tax increase law will be introduced. Just your wait!

With that said, also expect a Tax revolt. The US citizens are in arms, right now, and the theme slogan at the moment is:
"Grap your torch and pitch forks"
or my personal favorite,
"Stock up on Canned Goods and Shot Gun Ammunition"
  • #76,899
  • Mar 18, 2009 10:11am Mar 18, 2009 10:11am
will it be head-shoulder in 5 mins chart??
What goes up must come down.
  • #76,900
  • Mar 18, 2009 10:13am Mar 18, 2009 10:13am
Quoting smartlee
will it be head-shoulder in 5 mins chart??
I'd be more interested in seeing one on the hourly.
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