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  • #93,781
  • May 7, 2009 12:52pm May 7, 2009 12:52pm
Just noticed crude has lost all of its days gains and is down, as well as stocks.

Surely we can get back to the pivot (another error on my part - wishful thinking).
  • #93,782
  • May 7, 2009 12:53pm May 7, 2009 12:53pm
Thanks plan-b .

Will be reading while scavenging and tryng to close edges.

Thanks again to all.
The trend.. just follow the trend.. (i think)
  • #93,783
  • May 7, 2009 12:56pm May 7, 2009 12:56pm
Quoting fxstman
I am still learning. But could this be drawn right? it could be forming a rising wedge?
I will say YES to upper line, but NO to bottom line.
  • #93,784
  • May 7, 2009 12:58pm May 7, 2009 12:58pm
Taking trade for 1st time today , short having tp 1.3304,sl 1.3384. hope they work.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #93,785
  • May 7, 2009 12:59pm May 7, 2009 12:59pm
Quoting FrenchPips
ATLAST - that was what just occurred to me - do you think we'll see R1 @ 13376 break....
Hope you stayed in your short. It could possibly go all the way down. Better trail 1 hour bar high as your SL and take some profit along the way.
  • #93,786
  • May 7, 2009 1:00pm May 7, 2009 1:00pm
Quoting mphpopular
I will say YES to upper line, but NO to bottom line.
Ok, thanks. I see your signature and will study before asking why,

Thanks.
  • #93,787
  • May 7, 2009 1:02pm May 7, 2009 1:02pm
Cheers - I did keep short position and it had broke by the time I'd finished typing.

When you say trail one hour bar high do you mean at 13400 i.e. the last complete hourly bar ?

Thanks
  • #93,788
  • May 7, 2009 1:03pm May 7, 2009 1:03pm
Is what I'm seeing. PA is fighting the to drop below the 50% fib of the move today. It's almost back to where it was before all the cockamammie crap started today. My bias is short; as (for now): my system is telling me to trade or scalp only short moves.
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Pip what you see; See what you pip!
  • #93,789
  • May 7, 2009 1:04pm May 7, 2009 1:04pm
Quoting Tradester
Is anyone else trading the bearish butterfly that completed it's initial formation at the 1.3469 high?

I'm presently targeting the equilibrium point of 1.3308-ish but it could move along fast so I would feel better.

(Note: I'm trading the 1-hr and 15m timeframe)
I just exited this trade btw, incase anyone's following...the Bearish Butterfly on the 15m is gone now...which was my entry criteria. It's still there on the hourly though...
"The markets are the greatest chess match ever played."
  • #93,790
  • May 7, 2009 1:07pm May 7, 2009 1:07pm
Quoting FrenchPips
Cheers - I did keep short position and it had broke by the time I'd finished typing.

When you say trail one hour bar high do you mean at 13400 i.e. the last complete hourly bar ?

Thanks
yes,
1.3341 and 1.3289 TP areas
I am through for the day.
Till tomorrow
  • #93,791
  • May 7, 2009 2:04pm May 7, 2009 2:04pm
sorry guys what is PA?
Successful people will do what unsuccessful people won’t or can’t do!
  • #93,792
  • May 7, 2009 2:07pm May 7, 2009 2:07pm
Quoting moh.ezzat
sorry guys what is PA?
PA = Price Action
Pip what you see; See what you pip!
  • #93,793
  • May 7, 2009 2:08pm May 7, 2009 2:08pm
Quoting SeerEye
PA = Price Action

ty mate
Successful people will do what unsuccessful people won’t or can’t do!
  • #93,794
  • May 7, 2009 2:11pm May 7, 2009 2:11pm
Quoting moh.ezzat
sorry guys what is PA?
price action
swe/cze 1:0
  • #93,795
  • May 7, 2009 2:27pm May 7, 2009 2:27pm
Hello thread,

I was curious to find out if any of you actively monitor CME or other futures exchange data on the euro while you trade EUR/USD on the spot market?

If so, what do you look for in the futures data?

I usually concurrently look at the volume and depth-of-market flows while I am trying to scalp E/U. I am learning VSA slowly (not an easy subject) but I do see some pretty classic setups on a regular basis - i.e., much larger volume on a down-bar indicates strength in the market, and thus a turn north. That's one I can trade that works most times.

I have not tried to monitor the Globex euro futures data - do you? Is it better/worse than the CME for useful data?

Do you monitor any other futures for clues on the EUR/USD - crude, gold, sow bellies, etc? Please feel free to share any priceless secrets.

Many thanks.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #93,796
  • May 7, 2009 2:52pm May 7, 2009 2:52pm
Quoting Whist
Hi all,

First of all thanks to all that post here have been very helpfull.

I've been on this for bout 2 months now, mainly demo, where i actually doubled my initial cash in a week (20000 -> 37000).


Decided to start a real account, but well.. seems i have hesitation with real money and not working so well. Trying to fix that.

My question is, there is no real indicator or lead on the direction is there ? we're all just waiting to see wich way it goes ?
its even more fun when you double a $1mil demo account. i have done it many times. as for picking direction, some people are proactive, and others are reactive.
"i wake up in the morning, and i piss excellence"
  • #93,797
  • May 7, 2009 3:01pm May 7, 2009 3:01pm
Quoting moh.ezzat
sorry guys what is PA?
Sounds like you need this bookmarked... Glossaries & Common Acronym List

I't's hidden at the TOP of the Rookie section as a Sticky, and is there for a reason. Read some of that stuff... it saves on ink... and apologies.
FUBAR...
  • #93,798
  • May 7, 2009 3:08pm May 7, 2009 3:08pm
Quoting Mackeymax
what no more NINJA loans??...whoa!...seems to me with people out of jobs and 20% down....a lot of foreclosures are being bought well below mkt value....but way too much inventory out there and prices haven't stabilized yet....wow i'm starting to sound like a pessimistic mtg broker....HA!!

mm


p.s. it hit 1.3435 three times and pulled back and last one could be a falsie...or fri non farm's come out a smidge better and BOOM! 1.6000?...but you know i always run against the masses....

you can still buy with 3.5% down fha, but there just isnt enough new buyers to soak up all the excess inventory fast enough, but the overhang is diminishing. loan mods will help, but are taking too long as well ( if someone modifies, one less foreclosure or short sale dragging down value). market has bottomed, but will be a while before it starts going back up (prices and values). as for pessimistic mortgage brokers, i am not one of them. i am more of a realist. you may even want to consider modifying your loan(s). the opportunity wont last forever, and it doesnt cost anything to try.

as for the euro, remeber when dollar positive news made the dollar strenghten? those were the good ole days. well, i still have my hedge gun for a few more days, so i will definitely have it loaded for tomorrow. not that i need it though. but it is fun making money in both directions on the same pair.
"i wake up in the morning, and i piss excellence"
  • #93,799
  • May 7, 2009 3:20pm May 7, 2009 3:20pm
Quoting ak4x
Sounds like you need this bookmarked... Glossaries & Common Acronym List

I't's hidden at the TOP of the Rookie section as a Sticky, and is there for a reason. Read some of that stuff... it saves on ink... and apologies.
Very diplomatic reply. Respect! Old school or nova days...?
  • #93,800
  • May 7, 2009 3:29pm May 7, 2009 3:29pm
hi folks

newbies i strongly suggest you not trade untill after nfp.. maybe 30 mn or even wait till sunday u.s. time...we should have a better indication of direction. like most forex traders your head will be hard.. many of the old timers have blown accounts including myself. so your more then likely wont listen.. its really hard if you got begginers luck and think this is easy.. so i will assume your head is as hard as mine once was. if so before you enter a trade figure how much you want to loose and stick with it.. dont let stop loss be more then 1% of your account. i suggest tp 2-1 r/r but dont be afraid to pull trigger if near and looks like it will reverse...know why and understand why your getting in a trade before your in it.. have a plan that makes sence.. not a gut feeling...since your more then likely going to lose if you trade a lot today/tomorow have a lie to tell your wife already made up... go over it in your head and have answers to questions she will ask ahead of time.. look in her eyes as you lie..if your stealing company money to trade have a good excuse, like you were kidnapped by a womens motorcycle gang and you were forced. trade and have sex and you feel cheap. cry a little.. if this dont work tell your cellmate you killed your mother...preview the trainning video below.. it might help to see your future.. good luck..
those who can, do. those who cant, talk about those who can
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