Nope, only watch the GBP USD and even that I don't watch close enough as I missed the Northbound train on that too...
dont worry...theres always another train..
Trade what you see NOT what you expect
- #10,821
- May 1, 2009 5:04am May 1, 2009 5:04am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
dont worry...theres always another train..
- #10,822
- May 1, 2009 5:50am May 1, 2009 5:50am
Looks like I am trying to catch a steam train that is low on coal.. I am considering trading north again on gbp from this resistance point 1.4925.
dont worry...theres always another train..
- #10,824
- May 1, 2009 6:37am May 1, 2009 6:37am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #10,825
- May 1, 2009 6:39am May 1, 2009 6:39am
This might explain...
Order Flow Dominating a Thin Market London, May 1. A bit of a roller coaster ride for the EUR through early London and into North America. Order flow looks to be the main driver with three large deals reportedly shaping the 1.3260-1.3307-1.3227-1.3329 swings. Us accounts have been busy from their start and helped push the EUR clear above the 1.3307 London high. However, once the orders are completed a thin market implodes and we see a sharp reversal.
EUR/USD has slipped all the way back to 1.3275 and is waiting for the next buy side interest.
thomsonreuters take on it
Order Flow Dominating a Thin Market London, May 1. A bit of a roller coaster ride for the EUR through early London and into North America. Order flow looks to be the main driver with three large deals reportedly shaping the 1.3260-1.3307-1.3227-1.3329 swings. Us accounts have been busy from their start and helped push the EUR clear above the 1.3307 London high. However, once the orders are completed a thin market implodes and we see a sharp reversal.
EUR/USD has slipped all the way back to 1.3275 and is waiting for the next buy side interest.
thomsonreuters take on it
Morning, fellows
What was this drop in GU(-30), EU(-30) and EJ(-40) simultaneously?
Did I miss any news?
- #10,826
- May 1, 2009 6:44am May 1, 2009 6:44am
This might explain...
Order Flow Dominating a Thin Market London, May 1. A bit of a roller coaster ride for the EUR through early London and into North America. Order flow looks to be the main driver with three large deals reportedly shaping the 1.3260-1.3307-1.3227-1.3329 swings. Us accounts have been busy from their start and helped push the EUR clear above the 1.3307 London high. However, once the orders are completed a thin market implodes and we see a sharp reversal.
EUR/USD has slipped all the way back to 1.3275 and is waiting for the next...
- #10,827
- May 1, 2009 6:45am May 1, 2009 6:45am
I am trying to trade from current price up and you are seeing the big picture which says expect a drop first... no wonder I keep getting stopped out with my little 25 pip stop loss.
I really am not getting this...... Maybe it is time to give this up and go back to PAYE at least we used to eat well in those days and afford wood for the woodburner.
Thanks for your guidance nAVIN
I really am not getting this...... Maybe it is time to give this up and go back to PAYE at least we used to eat well in those days and afford wood for the woodburner.
Thanks for your guidance nAVIN
the larger time frames are bullish 1.53 is on the cards just need a descent area to catch the train 1.4600 area if visited look for a buy signal
- #10,832
- May 1, 2009 7:11am May 1, 2009 7:11am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
I am trying to trade from current price up and you are seeing the big picture which says expect a drop first... no wonder I keep getting stopped out with my little 25 pip stop loss.
I really am not getting this...... Maybe it is time to give this up and go back to PAYE at least we used to eat well in those days and afford wood for the woodburner.
Thanks for your guidance nAVIN
EO, affinity and others( to many to name) know there shit inside out and probably trade longer term as well so they know what happening and where price is going
THE FACT IS to trade smaller time frame is not for someone trying to get a understanding of the market..u need to do everything quicker and this kills the new trader..
im posting my trading details for the month and i lost almost 90% of my scalps ( even that isnt high enough) thats in my journal cause i want to destroy this place with my unnecessary scraps
hi rt4x
I get very confused with candles still. On my 1 hr I see a possible hammer I think currectly called an inverted hammer as there is currently no wick at the top. If so and it closes this way I thought someone mentioned on the thread this is considered a potential continuation signal. I hope someone can clarify this....
http://i.investopedia.com/inv/092009.../book_icon.jpg
What Does Hanging Man Mean?
A bearish candlestick pattern that forms at the end of an uptrend. It is created when there is a significant sell-off near the market open, but buyers are able to push this stock back up so that it closes at or near the opening price. Generally the large sell-off is seen as an early indication that the bulls (buyers) are losing control and demand for the asset is waning.
http://i.investopedia.com/inv/dictio...HangingMan.gif
http://i.investopedia.com/inv/092009...y/inv_icon.jpg
Investopedia explains Hanging Man
This formation does not mean that the bulls have definitively lost control, but it may be an early sign that the momentum is decreasing and the direction of the asset may be getting ready to change. The reliability of this signal is drastically improved when the price of the asset decreases the day after the signal. Hanging man formations can be more easily identified in intraday charts than daily charts and are a very popular formation used by day traders.
If this pattern is found at the end of a downtrend, it is known as a "hammer".
- #10,834
- May 1, 2009 7:28am May 1, 2009 7:28am
Thanks for sharing this nAVIN
To be honest I am not so much trading the candles yet as I don't fully understand them which is why I demo trade along with EO's thread. This is teaching me a great amount.
What I am trying to trade is sup and res and trigger my entry with the candles and MA's .
I am keeping my discipline to stick only with GBPUSD and learn to trade EO's style.
Oh and the real embarrassment for me is that I have been attempting to trade for more than 2 years full time but now it is beginning to destroy my moral
I will try keep learning with you guys as long as I can.
To be honest I am not so much trading the candles yet as I don't fully understand them which is why I demo trade along with EO's thread. This is teaching me a great amount.
What I am trying to trade is sup and res and trigger my entry with the candles and MA's .
I am keeping my discipline to stick only with GBPUSD and learn to trade EO's style.
Oh and the real embarrassment for me is that I have been attempting to trade for more than 2 years full time but now it is beginning to destroy my moral
I will try keep learning with you guys as long as I can.
no man u are cut out for this but u have to change the way u see the market...u cant enter every1 time u see a hanging man or doji or whatever
EO, affinity and others( to many to name) know there shit inside out and probably trade longer term as well so they know what happening and where price is going
THE FACT IS to trade smaller time frame is not for someone trying to get a understanding of the market..u need to do everything quicker and this kills the new trader..
im posting my trading details for the month and i lost almost 90% of my scalps...
- #10,835
- May 1, 2009 7:32am May 1, 2009 7:32am
Also to add weight to your view there is a downward sloping TL shown on the hourly
A HAMMER is "HAMMERING out a bottom" So will be found at bottom of a run down.
- #10,837
- May 1, 2009 7:49am May 1, 2009 7:49am
- | Joined Jul 2008 | Status: Trader | 1,010 Posts
Good morning everyone....good thing all my shorts were covered!
I had high hopes for them this morning but nooooooooo!
I had high hopes for them this morning but nooooooooo!
- #10,840
- May 1, 2009 8:15am May 1, 2009 8:15am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Thanks for this rt4x and to you Riggster...
This has got to come together soonI can't believe I can make this so f***ing complicated..
trading is complicated make no doubt it 95% lose