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  • #88,321
  • Apr 22, 2009 3:26am Apr 22, 2009 3:26am
Quoting SeerEye
for informational purposes only - may I ask why?
2 hr shows the last 4 candles closing below the 21sma (grey line) with only one small poke above the DP so far on this daily session.

It also shows a nice breach below the S/R level (shaded) with the expected retrace since it blew thru the lower BB like it did. That will almost ALWAYS retrace... Always. The retrace could be either reversal or an intent to continue.

Since this is a strong downtrend waiting to resume imo, I read it as intent to continue and it'll cost me 40 something pips to find out. I'm reloading at 2930 btw as well, the first order was smaller as I honestly wasn't sure it would retrace all that high and wanted to get in, and on the 3m, it was stalling at the 910 level, and that was close enough for a first entry.

The 6m shows the upper BB at a'rd xx30 and so it's a quick matter to set the SL just above that and the DP in case of a DP retap and I'm in and good to go. Tight stop on the second entry at 30ish. Now we watch...

Anything above 2955 and my wife will have to buy dinner this weekend I guess.

Hope that's clear enough to sort out. I should add I'll lock at least 1 or 2 positive pips pretty quick after they go green just in case... This isn't exactly a Low risk trade, but it does have it's merits... that's trading.

Oh yeah... the 15m/20m 50ema has a nice ceiling at 2932 as well...
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FUBAR...
  • #88,322
  • Apr 22, 2009 3:31am Apr 22, 2009 3:31am
out by 14 pip
  • #88,323
  • Apr 22, 2009 3:33am Apr 22, 2009 3:33am
Quoting GlitzGlitz
Um.. sorry for my lack of knowledge, but what is that gap thing in your chart? I mean the gray smooth line in the chart in the middle of the price movement.

That is weekend data. OANDA allows you to choose whether you want to display it or not.
  • #88,324
  • Apr 22, 2009 3:35am Apr 22, 2009 3:35am
Quoting SmoothTrader
That is weekend data. OANDA allows you to choose whether you want to display it or not.
Thanks!
  • #88,325
  • Apr 22, 2009 4:03am Apr 22, 2009 4:03am
gbp getting ass kicked by usd and euro
those who can, do. those who cant, talk about those who can
  • #88,326
  • Apr 22, 2009 4:25am Apr 22, 2009 4:25am
Looks like sell GBP reaction to GBP news and setting up to negative reaction to pound to UK budget.

Scalping GBP down since half hour, looks promising on the short term. I'm watching for reaction during budget speech in hour and half.

It's a complex call. E/U indicators point south in the Medium Term (heh!).

On the other hand, commodities appear happy as the Brady Bunch today, which argues for dollar dumpings of some kind... what kind exactly you cunning Britishers...maybe the swiss know...


Nope... remaining "neutral". How very swissy.
Attached Image
Short negativity.
  • #88,327
  • Apr 22, 2009 4:44am Apr 22, 2009 4:44am
Quoting ak4x

The 6m shows the upper BB at a'rd xx30 and so it's a quick matter to set the SL just above that and the DP in case of a DP retap and I'm in and good to go. Tight stop on the second entry at 30ish. Now we watch...

...

Hy!

What kind of moving average is the yellow line on 6m graph?

ThankS!

http://orsotoro.blogspot.com/ [my blog]
  • #88,328
  • Apr 22, 2009 5:11am Apr 22, 2009 5:11am
Quoting SmoothTrader
That is weekend data. OANDA allows you to choose whether you want to display it or not.

This is correct about it being weekend data.

How can I choose not to display it? I didn't know that was an option.
  • #88,329
  • Apr 22, 2009 5:21am Apr 22, 2009 5:21am
Looks like PA is shaping up for some real retrace right now... lets see if I am correct.
  • #88,330
  • Apr 22, 2009 5:25am Apr 22, 2009 5:25am
Quoting F.x.
This is correct about it being weekend data.

How can I choose not to display it? I didn't know that was an option.

as i can remember:
tools-user preferences-chart-hide weekend data
  • #88,331
  • Apr 22, 2009 5:26am Apr 22, 2009 5:26am
Quoting 99vt66
Looks like PA is shaping up for some real retrace right now... lets see if I am correct.
IMO it is a good place to short now around this area with a target around 1.2900.
  • #88,332
  • Apr 22, 2009 5:36am Apr 22, 2009 5:36am
Quoting Titus
as i can remember:
tools-user preferences-chart-hide weekend data

That's it, thanks.
  • #88,333
  • Apr 22, 2009 5:37am Apr 22, 2009 5:37am
Quoting GlitzGlitz
IMO it is a good place to short now around this area with a target around 1.2900.
Its ok if you are scalping for 20-30 pips...not sure if 12900 is reachable.

btw, where is your SL?
  • #88,334
  • Apr 22, 2009 5:39am Apr 22, 2009 5:39am
Quoting F.x.
That's it, thanks.
any update on the market? how is it going? wil it be touching 2800??
  • #88,335
  • Apr 22, 2009 5:40am Apr 22, 2009 5:40am
Quoting 99vt66
Its ok if you are scalping for 20-30 pips...not sure if 12900 is reachable.

btw, where is your SL?
u saying that we are gonna hit sky high? no more diving in the deep ocean?
  • #88,336
  • Apr 22, 2009 5:46am Apr 22, 2009 5:46am
Quoting dannies
any update on the market? how is it going? wil it be touching 2800??
I opened a small short position at 1.295, though this will likely end up being just a little scalp. Nothing has really changed yet. I wouldn't be placing any major trades right now.

We have what appears to be a double bottom formed, as well as some other indications of possible retracement. But we've also been in this downtrend and there's nothing to say that that has changed.

Best option would be to look to short if we go up to 1.305, 1.31, 1.32... or wait for a breakout to short below 1.289 (if you're into that kind of trade). Of course some better trades will be waiting below that in terms of opportunities to go long.
  • #88,337
  • Apr 22, 2009 5:47am Apr 22, 2009 5:47am
Quoting dannies
u saying that we are gonna hit sky high? no more diving in the deep ocean?
www.babypips.com plz.....do yourself a favor
  • #88,338
  • Apr 22, 2009 5:53am Apr 22, 2009 5:53am
Quoting 99vt66
www.babypips.com plz.....do yourself a favor

ok dude....
  • #88,339
  • Apr 22, 2009 6:07am Apr 22, 2009 6:07am
Quoting 99vt66
Its ok if you are scalping for 20-30 pips...not sure if 12900 is reachable.

btw, where is your SL?
2969
  • #88,340
  • Apr 22, 2009 6:10am Apr 22, 2009 6:10am
.. I went short at 1.2921 (09:20 London Time), I am as confident as I can be that this is a good one. I have now opened another short at 1.2943 (12:00).

I may be wrong, but at least I have confidence in my first decision.
Good Trading. (keep it simple).
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