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EURUSD

  • #94,461
  • May 10, 2009 2:47pm May 10, 2009 2:47pm
Quoting ziko123
the fall after divergence is usually very quick/rapid , this may drop 300 pips in just one H4 bar, if I wait till bar close then It will be more risky, I have to start adding positions from here
That`s very true. Waiting for 17:00GMT... If there`s no gap, the price at my broker`s should be at 3625-3630, or there will be a gap up.
  • #94,462
  • May 10, 2009 2:47pm May 10, 2009 2:47pm
Quoting ziko123
the fall after divergence is usually very quick/rapid , this may drop 300 pips in just one H4 bar, if I wait till bar close then It will be more risky, I have to start adding positions from here
Where do you see divergence? I see no divergence in EURUSD.
  • #94,463
  • May 10, 2009 3:05pm May 10, 2009 3:05pm
Hello everyone.

We have the possibility of a double top on the daily at 1.37. However, we also have several possible butterfly patterns on the same chart that could mean down or up depending on which one you're watching...

Will we hit 1.37 and bounce down as we did last time? Or will this retest plow right on through and into the 1.40's, or even higher???

I'll be watching for verification of an uptrend or an indication that we're back into the downtrend we've been in for so long...

My guess... we'll have some retracement which can be played short (but who really knows at which point this will occur? I can see reasons for it to happen at any one of several places from here till 1.40 at 100 pip intervals...) Then a resumption of current uptrend after that...

However..... the "retracement" that we're all expecting should still be considered as a possible fall back into downtrend, which would take us to new lows... so that is not to be ruled out.
  • #94,464
  • May 10, 2009 3:29pm May 10, 2009 3:29pm
Quoting zapper
you are right... but if there`s sound money management involved in the trade, you`ll surely be a winner. I usually break even with a profit of 0-1pips, if i have exceeded my mental s/l limit...
Profit ???? 0-1 pips. What!!!!
  • #94,465
  • May 10, 2009 3:35pm May 10, 2009 3:35pm
Quoting SunTrader
Profit ???? 0-1 pips. What!!!!
Probably Shakesfx's method? BE to few pips close 1/2 position.
The Thief of Wall Street
  • #94,466
  • May 10, 2009 3:45pm May 10, 2009 3:45pm
Quoting Chicky
Probably Shakesfx's method? BE to few pips close 1/2 position.
I wouldn't know.

But 1-2 pips is spread I get on EU and don't consider anything less than xx pips profit.
  • #94,467
  • May 10, 2009 3:51pm May 10, 2009 3:51pm
Quoting SunTrader
I wouldn't know.

But 1-2 pips is spread I get on EU and don't consider anything less than xx pips profit.
It's trickle tricky dicky tradeonomics.

You get 1 pip/hour

Then, you lose 2 pips every 30 minutes.

Then, the MACD line crosses the Stochastic line. And no, it's not a misprint.

Then you head to the casino, put $100 in the penny slots. At your last penny, it gives you $20.

Then you made money.

Edit: Somehow, this may have been the most sensible post you'll read all day. How sad it is
Not all sins are created equal
  • #94,468
  • Edited 4:21pm May 10, 2009 3:53pm | Edited 4:21pm
Quoting SunTrader
I wouldn't know.

But 1-2 pips is spread I get on EU and don't consider anything less than xx pips profit.
You have a very valid objection. I too was puzzled. But this is how I take it. Many traders are risk averse. If a profitable trade temporarily goes few pips against them, they try to avoid any possible major loss. The way to hedge it is to bank early profit on a full position by closing 1/2 the position. These few pips on a full position will let the trader sustain for remaining half position to a little below entry point. If remaining half come to BE or even a couple of pips negative, this negative on 1/2 the position is less than few pips banked earlier. Therefore closing remaining 1/2 position with a nominal loss will still give them few pips on the whole move. This is how I interpret this.
The Thief of Wall Street
  • #94,469
  • May 10, 2009 4:08pm May 10, 2009 4:08pm
Ga ga gap.

woo hoo.



Next week I bet the "gap" will be 5 gabillion pips.

"Yeah but OANDAnus says its trading at blah blah blah so it must be true or look at xyze-aclmnop dot fart".

  • #94,470
  • May 10, 2009 4:11pm May 10, 2009 4:11pm
Quoting SunTrader
Ga ga gap.

woo hoo.



Next week I bet the "gap" will be 5 gabillion pips.

"Yeah but OANDAnus says its trading at blah blah blah so it must be true or look at xyze-aclmnop dot fart".

Don't mock it they need something trade related to think about to feed there addictions!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #94,471
  • May 10, 2009 4:39pm May 10, 2009 4:39pm
Quoting SunTrader
Ga ga gap.

woo hoo.



Next week I bet the "gap" will be 5 gabillion pips.

"Yeah but OANDAnus says its trading at blah blah blah so it must be true or look at xyze-aclmnop dot fart".

Are you in a bad mood today? Here's a hug just for you....
  • #94,472
  • May 10, 2009 4:40pm May 10, 2009 4:40pm
Quoting SunTrader
Ga ga gap.

woo hoo.



Next week I bet the "gap" will be 5 gabillion pips.

"Yeah but OANDAnus says its trading at blah blah blah so it must be true or look at xyze-aclmnop dot fart".

DAMN IT!

So it's dot fart. I had it all wrong.

Still waiting for that 500 pips gap from a few weeks ago. Damn damn damn!
Not all sins are created equal
  • #94,473
  • May 10, 2009 4:50pm May 10, 2009 4:50pm
Quoting Jay Walker
DAMN IT!

So it's dot fart. I had it all wrong.

Still waiting for that 500 pips gap from a few weeks ago. Damn damn damn!
Yeah, of course. You use the fart key - right next to the end key.

  • #94,474
  • May 10, 2009 4:54pm May 10, 2009 4:54pm
Quoting Jay Walker
DAMN IT!

So it's dot fart. I had it all wrong.

Still waiting for that 500 pips gap from a few weeks ago. Damn damn damn!
Mr. Jay,

Are there any instructions regarding Hat? We are just few minutes away from low spread session.
The Thief of Wall Street
  • #94,475
  • May 10, 2009 4:57pm May 10, 2009 4:57pm
Quoting Chicky
Mr. Jay,

Are there any instructions regarding Hat? We are just few minutes away from low spread session.
The hat I recommend today is the Native American Headdress.

Tomahawks not included.
Not all sins are created equal
  • #94,476
  • May 10, 2009 4:57pm May 10, 2009 4:57pm
why a low at 1,3404??
  • #94,477
  • May 10, 2009 5:02pm May 10, 2009 5:02pm
Quoting Jay Walker
The hat I recommend today is the Native American Headdress.

Tomahawks not included.
Thank you Mr. Jay.

I will be back after removing my ceiling fan ......... or probably the ceiling altogether.
The Thief of Wall Street
  • #94,478
  • May 10, 2009 5:03pm May 10, 2009 5:03pm
Quoting fammira
why a low at 1,3404??
fam,

We are passed that. Got to wait till next weekend to talk of phantom prices.

Sun
  • #94,479
  • May 10, 2009 5:03pm May 10, 2009 5:03pm
Well im looking for the retrace aleast if not the big drop this is a key level that tested a back in 3 18 and it dropped slowly but it did i wish someone could tell me what to expect and why thought im just going off that better news for the economy and decent to maybe good bank results...... anyone have another opinion on what it might do and why
  • #94,480
  • May 10, 2009 5:07pm May 10, 2009 5:07pm
Quoting moh.ezzat
the GAP is confirmed 80% on 1H chart
Where?
Not all sins are created equal
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