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  • #101,921
  • May 28, 2009 1:23am May 28, 2009 1:23am
Quoting forexer83
first res 1.3858,if you want use it as firs TP

thnx alot
t.p shifted , then i will use trailer stop
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #101,922
  • May 28, 2009 1:26am May 28, 2009 1:26am
Quoting Chicky
Morning boy or girl

Long. TP 1.3997
i know the feeling
those who can, do. those who cant, talk about those who can
  • #101,923
  • May 28, 2009 1:27am May 28, 2009 1:27am
MACD 4h pointing downwards. Possible to go down further depending on today's news. Anyway just got my 10 pips for the day. Good luck
Gambling with PA
  • #101,924
  • Edited 1:33am May 28, 2009 1:32am | Edited 1:33am
Quoting Atlast
Whoa, saw a lot of traders pullin some pips yesterday in the wild ride down.
Wish I could say I woke up to a TP, but instead a few pips loss. It could be another wild day ahead with all the news coming out.
240 min chart and daily chart shows 1.3700 is support. Short term TF shows market within a downward slide, attempting a breakout, probably to pivot point. I'm waiting for the break before attempting a long.
Thanks for your analysis. I did ok yesterday (NZ time) too and I have watching this sideways motion all day today. I attempted a short a little while ago and nearly got bitten for my trouble....I got out with no loss, but it taught me, actually it reinforced to me that doing nothing and keeping capital safe is also a 'position' that needs to be taken sometimes!!

Lesson well and truely learned
Doing what you like is Freedom. Liking what you do is Happiness.
  • #101,925
  • May 28, 2009 1:34am May 28, 2009 1:34am
Quoting gurangax
MACD 4h pointing downwards. Possible to go down further depending on today's news. Anyway just got my 10 pips for the day. Good luck
anyone else having more down for a while? I'm short till 1.381
I am both right and wrong, what's important is the amount of $$$ in my bank
  • #101,926
  • May 28, 2009 1:38am May 28, 2009 1:38am
Quoting The Fool
Danke, Jasper. Question for you though: do you really believe price levels from 5 months ago exert some power in the mass psychology of trading? My reference bible on TA is JJ Murphy's "Technical Analysis of the Financial Markets" in which somewhere he says and I paraphrase: support & resistance levels are more valid for more recent prices. I am always amazed when I draw a horizontal or diagonal trendline on my chart and the price goes to the line and bounces. But I don't usually look at prices any further back than a week or so...
Further.... I have a small Oanda Trade account which I use to test out trades, and just for you I have opened it up and gone short at 1.3837, purely based on price action reading. I would not do this on my other account, because due to being on the forum I have not been paying the attention I should have.

Lets see how things develop?

I will post the chart result up for you within the next hour or so. Bear in mind I took a quick analysis!
Good Trading. (keep it simple).
  • #101,927
  • May 28, 2009 1:46am May 28, 2009 1:46am
Quoting gatorinla
i know the feeling
Feeling? No I didn't get it. Here is my revised game plan.

Instead of 10, I now enter with one full position. Take 2/3rd off the table near next s/r. Re-enter 2/3rd again after a bounce. Try to find and follow trend within a trend and its break. It may take me to 1.6000 or 1.000, but wherever it takes me I will always be with the trend. I won't be lost - and if accidently lost, will be for a shortwhile. If PA gets upto near 1.4000 my pip collection will be the difference from where I entered to 1.400, a little over or a little short. Same is true if PA decides to go for 1.3700. Risk reward almost 1:1, edge with s/r. Collected as many pips in two days as I normally collect in two weeks with 1/10th of risk that I used to take. The only issue is the screen time. A month's operation will confirm the method. Maybe several lost opportunities, but taking 1/2 a percent risk is better than betting 30% of the farm.
The Thief of Wall Street
  • #101,928
  • May 28, 2009 1:54am May 28, 2009 1:54am
good morning all .USD/JPY is just flying up and up anyway i dont trade it but got my first +11pips in eurusd
  • #101,929
  • May 28, 2009 1:57am May 28, 2009 1:57am
today's supp and res:
1.3814 and 1.3850
  • #101,930
  • May 28, 2009 1:58am May 28, 2009 1:58am
Quoting Jasper
Further.... I have a small Oanda Trade account which I use to test out trades, and just for you I have opened it up and gone short at 1.3837, purely based on price action reading. I would not do this on my other account, because due to being on the forum I have not been paying the attention I should have.

Lets see how things develop?

I will post the chart result up for you within the next hour or so. Bear in mind I took a quick analysis!
OK. I can recognize the fractal nature of the PA. It's an interesting topic.

Lately, though, I have been concentrating on easy, high probability trading. (I am naturally lazy.) So I look for PA that is jumping up and down in a range and place series of quick trades with very obtainable TP, say 5 pips. The Frankfurt open to the early London session seems to work well for this. I can do 10 or more of these per hour, Some get away from me and have to be stopped for a loss. But most win. My account is new and I started pretty small so I just throw half lots at these, but I am looking forward to doing the same with 10 lot trades and higher.

I will still be interested in swing trading, but I will also have alot of shopping to do.

(I just closed 2 10-pippers in the time it took me to write this.)
"If The Fool persists in his Folly he will become wise." - William Blake
  • #101,931
  • Edited 2:01am May 28, 2009 2:01am | Edited 2:01am
Quoting forexer83
today's supp and res:
1.3814 and 1.3850
I see today's rangge developing between 1.3871 - 1.3748 (good and solid market profile levels)
  • #101,932
  • May 28, 2009 2:03am May 28, 2009 2:03am
Quoting notch
I see today's rangge developing between 1.3871 - 1.3748 (good and solid market profile levels)
Can't agree more notch,my target is 1.3737 not far awayfrom yours._))
{Promotion Removed}
  • #101,933
  • May 28, 2009 2:04am May 28, 2009 2:04am
My first post in this thread, will see how it goes

This week I am short biased and looking out for nice levels to short, yesterday was good - up - down - up - down ...

My question - why all those people are trying to get long? Arent we supposed to wait for confirmation of reversal/broken daily high/higher daily low/broken up fractal/tip from senior FF member for that?
  • #101,934
  • May 28, 2009 2:05am May 28, 2009 2:05am
Quoting notch
I see today's rangge developing between 1.3871 - 1.3748 (good and solid market profile levels)
Just wondering why you low is 1.3748? Just a few pips above a major fib level / support? If it reaches 1.3748, it will also reach 1.3740 or 1.3736.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #101,935
  • May 28, 2009 2:06am May 28, 2009 2:06am
Quoting notch
I see today's rangge developing between 1.3871 - 1.3748 (good and solid market profile levels)

good morning hendi
as i saw some people took short and others long
so i gonna stick to my plan
and wait a short + conformation
do u want a ticket !!
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #101,936
  • May 28, 2009 2:06am May 28, 2009 2:06am
Quoting notch
I see today's rangge developing between 1.3871 - 1.3748 (good and solid market profile levels)
good morning Notch...
yes agree..my level are in low TF,today i think bull.
let start the fight!
  • #101,937
  • May 28, 2009 2:08am May 28, 2009 2:08am
Quoting Chicky
Morning boy or girl

Long. TP 1.3997
this is what i was talking about LMAO i said i know the feeling
those who can, do. those who cant, talk about those who can
  • #101,938
  • Edited 2:12am May 28, 2009 2:09am | Edited 2:12am
Quoting KillerWhale
Just wondering why you low is 1.3748? Just a few pips above a major fib level / support? If it reaches 1.3748, it will also reach 1.3740 or 1.3736.

Well because there is major support there. Don't get me wrong, as I have been banging on about since last Friday I expect the price to drop to 1.3600-1.3650 by the end of play tomorrow so I'll be looking to reopen shorts should that level be taken out.
  • #101,939
  • May 28, 2009 2:10am May 28, 2009 2:10am
Quoting forexer83
good morning Notch...
yes agree..my level are in low TF,today i think bull.
let start the fight!

Okay my brother. Let fill the shed!
  • #101,940
  • May 28, 2009 2:10am May 28, 2009 2:10am
Quoting TheFisherman
If the Pivot line does not succeed in holding the price below, about 3985 or safer 4000's long to at least R1.

On the other hand, if the Pivot line succeeds to hold the price below I'd short about S1 and TP at S2 (probably tomorrow).

This will be my daily play.
This was the first post, I did posted later developments including the 9 pip to SL heavy adrenaline rush. Profit is in my national currency don't get fooled, it's only 95 pips.

A little bit of bragging. Is it allowed?
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