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  • #92,001
  • May 3, 2009 6:54pm May 3, 2009 6:54pm
Good evening friends.

Do not forget to keep an eye on the spreads, going to remain high throughout the day. I remember happily entring and exiting during a break few months ago, but the net result turned out to be red. Was shocked, then realized what had happened.
The Thief of Wall Street
  • #92,002
  • May 3, 2009 7:17pm May 3, 2009 7:17pm
Quote
I've been bullish EUR/USD for the last 2 weeks and looking at the Weekly chart, PA has made a series of higher lows and higher highs (Purple TL) which supports my bullish bias. I would love to see some downside movement as this will give me an opportunity to add to my existing longs. I have highlighted key PA spots for both directions just in case...SEE FULL ANALYSIS

I posted analysis on news section @ forexfactory under title: bullish eur/used? let's talk dips http://www.forexfactory.com/news.php?do=news&id=166614

happy pippin ..baby
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  • #92,003
  • May 3, 2009 7:50pm May 3, 2009 7:50pm
EUR-USD DAILY update for 5-3-09

EUR-USD presents an interesting scenerio today. On the WEEKLY chart we have made a nice looking bullish flag. Positioning EUR-USD for another push to the upside. To do so we will have to break above last week's high at 1.3384. Until 1.3384 is broken we can stay in a range bound market and perhaps even drop. Looking at the doji (indecision) candle we should approach the market with caution.

DAILY Chart of EUR-USD reinforces the WEEKLY pattern. Look at the DAILY Line Chart. We may have formed a H/S pattern.
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  • #92,004
  • Edited 8:36pm May 3, 2009 8:24pm | Edited 8:36pm
along with candlesticks charts above.. here is the usd index... its crashing on the day chart but still has to get below that recent low of .8384 currently at .8427... 8384 is also a shorter term fib.and a longer term one near where we r now 8418. so it may converge there again without breaking it.. time will tell but we aint there just yet........


the e index is bullish but less bullish then usd is bearish....i would feel more secure if they would both move strongly in their own index opposite. it takes time for this to develop.. looks like the eu bulls want it but havent quite got there just yet.. also remember the trendline from last summer/jan 09 is still intack....around 3629/39 area...it has to be broken and hold.. it may bounce around here and head south...a trend is a trend until broken..imfuo
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those who can, do. those who cant, talk about those who can
  • #92,005
  • May 3, 2009 8:27pm May 3, 2009 8:27pm
I am adding shorts despite a higher low on daily. But, gradually and will keep my losses limited to less than 1% of capital for a return of 3-5%. ......Why? ...Today is not a normal trading day and therefore taking a chance on Upset (i.e. a dark horse wins out of nowhere).

Once a gambler, always a gambler.

Please someone send me balls of steel.
The Thief of Wall Street
  • #92,006
  • May 3, 2009 8:38pm May 3, 2009 8:38pm
???



Quoting Chicky
I am adding shorts despite a higher low on daily. But, gradually and will keep my losses limited to less than 1% of capital for a return of 3-5%. ......Why? ...Today is not a normal trading day and therefore taking a chance on Upset (i.e. a dark horse wins out of nowhere).

Once a gambler, always a gambler.

Please someone send me balls of steel.
Its all in the mind.
  • #92,007
  • May 3, 2009 8:41pm May 3, 2009 8:41pm
Basing/rev signal just spotted. Remember to wait for fibo pb to trigger trade with ISL@13100 and first TP@13420/70.

GL n always watch the signposts.
  • #92,008
  • May 3, 2009 8:42pm May 3, 2009 8:42pm
my ej trade doing fine.. just passed last weeks high..
those who can, do. those who cant, talk about those who can
  • #92,009
  • May 3, 2009 8:42pm May 3, 2009 8:42pm
Quoting 5abi
???
U2?
The Thief of Wall Street
  • #92,010
  • May 3, 2009 8:43pm May 3, 2009 8:43pm
lol...


Me2

Quoting Chicky
U2?
Its all in the mind.
  • #92,011
  • May 3, 2009 8:44pm May 3, 2009 8:44pm
how is ur scalping going now

I had a skim thru Cobra thread this weekend

Quoting gatorinla
my ej trade doing fine.. just passed last weeks high..
Its all in the mind.
  • #92,012
  • May 3, 2009 8:45pm May 3, 2009 8:45pm
Quoting 5abi
lol...


Me2
U2 a female? What you gonna do with them?
The Thief of Wall Street
  • #92,013
  • May 3, 2009 8:49pm May 3, 2009 8:49pm
ohh no am not that. though I can do a lot with 'em..


btw buddy, how ya see Dollar-yen, pound-yen and pound-dollar? I could have a short conformation for them in next 2-3 hours. I would say about a couple hundred pips for each. Euro dollar may have some steam left to touch 3350

Why on the earth have people become so "risk averse" at this day and this hour

Quoting Chicky
U2 a female? What you gonna do with them?
Its all in the mind.
  • #92,014
  • May 3, 2009 8:58pm May 3, 2009 8:58pm
Quoting 5abi
how is ur scalping going now

I had a skim thru Cobra thread this weekend
i did 4 or 5 using a system my nephew showed me. then i fine tuned.. 4 or 5 winners thursday. no losers. went to jazz fest friday wasnt able to trade much.. i never got all the indicators from cobras yet..
those who can, do. those who cant, talk about those who can
  • #92,015
  • Edited 9:02pm May 3, 2009 9:01pm | Edited 9:02pm
Quoting 5abi
ohh no am not that. though I can do a lot with 'em..


btw buddy, how ya see Dollar-yen, pound-yen and pound-dollar? I could have a short conformation for them in next 2-3 hours. I would say about a couple hundred pips for each. Euro dollar may have some steam left to touch 3350

Why on the earth have people become so "risk averse" at this day and this hour
LOL. I was just kidding.

I made few pips on my longs that were open over the weekend plus made few more on a quick scalp on usd/jpy just after today's open. Using those pips as the bait for this move.

I am relying more on resistence at 1.3380/99 and 1.3480/99 than on a short move. This is my reason for taking some risk.
The Thief of Wall Street
  • #92,016
  • May 3, 2009 9:02pm May 3, 2009 9:02pm
I copied the whole template and skimmed thru a few historical trades, looks good. Probably will open a 100 dollar micro to test this system.

Quoting gatorinla
i did 4 or 5 using a system my nephew showed me. then i fine tuned.. 4 or 5 winners. no losers. i never got all the indicators from cobras yet..
Its all in the mind.
  • #92,017
  • May 3, 2009 9:05pm May 3, 2009 9:05pm
Quoting 5abi
I copied the whole template and skimmed thru a few historical trades, looks good. Probably will open a 100 dollar micro to test this system.
i was told you can use cobras longer term also. any time frame..
those who can, do. those who cant, talk about those who can
  • #92,018
  • May 3, 2009 9:10pm May 3, 2009 9:10pm
I have an euro dollar position from last week that is in red

I am of the FO that we can short this pair when current upwards momentum stalls. I guess with Japan closed these are a bunch of lolly-pops pushing it higher-but I could be wrong.

Dang I also have a Aussie short in red currently





Quoting Chicky
LOL. I was just kidding.

I made few pips on my longs that were open over the weekend plus made few more on a quick scalp on usd/jpy just after today's open. Using those pips as the bait for this move.

I am relying more on resistence at 1.3380/99 and 1.3480/99 than on a short move. This is my reason for taking some risk.
Its all in the mind.
  • #92,019
  • May 3, 2009 9:12pm May 3, 2009 9:12pm
That is what I read/saw too-but I may not use it on my longer TF as I have a good system going on in my H4, and D1. Definitely could use it for when there is uncertainty like now and I dont want to risk my usual stops of 200-300. It may be great for 15-20 pip stops.


Quoting gatorinla
i was told you can use cobras longer term also. any time frame..
Its all in the mind.
  • #92,020
  • May 3, 2009 9:33pm May 3, 2009 9:33pm
Quoting 5abi
That is what I read/saw too-but I may not use it on my longer TF as I have a good system going on in my H4, and D1. Definitely could use it for when there is uncertainty like now and I dont want to risk my usual stops of 200-300. It may be great for 15-20 pip stops.
if you got 2 good systems that agree it may increase odds.. thats why i listen too a lot of stuff here. if cobras system improves my trading just slightly its well worth it. if its better then mine then ill throw mine away...

i respect many here.. but at the end of the day you have to trade for yourself..some may sound crazy... when i think i know whats going on and hear someone who has my respect disagree. i take a close look at what they say..i just want to be right at least 8 out of 10 times using proper r/r...no matter what people tell you this is a good trader. top of the class.... lots of of the wall stuff is said here.. much by me included..even the loyd guy stuff should be listened too... not all of it but some of it is on the money... dont shoot the message in spite of the messenger..
those who can, do. those who cant, talk about those who can
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