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  • #103,581
  • Jun 1, 2009 1:56am Jun 1, 2009 1:56am
Quoting fando
it's hard to understand. we have at least 450 pips rally for last 3 days. but lots of people obsessed with going short & looking for retracements to enter trades. misterious.

Agree with you .. fando
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #103,582
  • Jun 1, 2009 1:58am Jun 1, 2009 1:58am
Well I have been stopped out and well in the red pippage wise (down about 2% overall on my acoount).

I was short with an extended SL. I went to bed for a few hours and woke up to find that my system had gone long at 1.4120ish and the current price was 1.4248...ouch!

Anyway, went short at 1.4244 with a tighter SL. After this trade it is back onto the scalping mill. I will end today with a healthy profit!
  • #103,583
  • Jun 1, 2009 1:58am Jun 1, 2009 1:58am
Quoting vaio
DOW futures too high, am worried now... If dow pulls back at open, Euro will too.
Dam market won't hit my TP 1.4236, just 7pips away. HIT IT, HIT IT!!!
plz can yu tell me how know dow futures it is too high plz
  • #103,584
  • Jun 1, 2009 1:59am Jun 1, 2009 1:59am
Quoting stewrigh
Think its got more to do with N Korea.
I don't care what it has to do with,
I'm opening shorts.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #103,585
  • Jun 1, 2009 2:06am Jun 1, 2009 2:06am
Short closed for 24 pips. Awaiting next short scalp opportunity.
  • #103,586
  • Jun 1, 2009 2:06am Jun 1, 2009 2:06am
Quoting notch
Well I have been stopped out and well in the red pippage wise (down about 2% overall on my acoount).

I was short with an extended SL. I went to bed for a few hours and woke up to find that my system had gone long at 1.4120ish and the current price was 1.4248...ouch!

Anyway, went short at 1.4244 with a tighter SL. After this trade it is back onto the scalping mill. I will end today with a healthy profit!

That's the spirit never give up. You might want to think about not bucking the trend until it changes, just a thought
  • #103,587
  • Jun 1, 2009 2:06am Jun 1, 2009 2:06am
Below 1.4221 and I am short again. With any momentum we should see some nice moves, otherwise it's another wait.
  • #103,588
  • Jun 1, 2009 2:08am Jun 1, 2009 2:08am
Quoting knuckledrag
That's the spirit never give up. You might want to think about not bucking the trend until it changes, just a thought

Strange, I never usually have a difficulty scalping back to breakeven. Weird!

BUT I HATE SCALPING!
  • #103,589
  • Jun 1, 2009 2:10am Jun 1, 2009 2:10am
hi fx friends
i quited of my 2nd long
my s.l was as my buy at 1.4184
and i quit at 1.4218
cuz i seen on my test chart a reversal candle + resistance line
please correct me if i wasnot wise to go out
Attached Image
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #103,590
  • Jun 1, 2009 2:12am Jun 1, 2009 2:12am
Daily chart attached with previous s/r marked up.

Think it might run out of steam soon.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 177 KB
  • #103,591
  • Jun 1, 2009 2:16am Jun 1, 2009 2:16am
My short is still looking good. Going to keep it in play...
  • #103,592
  • Edited 2:17am Jun 1, 2009 2:16am | Edited 2:17am
Quoting fando
it's hard to understand. we have at least 450 pips rally for last 3 days. but lots of people obsessed with going short & looking for retracements to enter trades. misterious.
I believe Monsieur Juncker calls it irrational, rather like the Greenspan remark about irrational exuberance, but referring to longs the Euro of course.
"There is a lot of irrationality in the markets. That is not helpful for an organised economic recovery," he said. (Reporting by Michele Sinner, writing by Jan Strupczewski)
"I never comment on foreign exchange rates because we don't have a foreign exchange policy in the EU, but I have to regret that volatility in foreign exchange rates is still too high," Juncker said.

Obsession in either direction is a recipe for disaster of course.
  • #103,593
  • Jun 1, 2009 2:16am Jun 1, 2009 2:16am
Quoting negro wolf
hi fx friends
i quited of my 2nd long
my s.l was as my buy at 1.4184
and i quit at 1.4218
cuz i seen on my test chart a reversal candle + resistance line
please correct me if i wasnot wise to go out
Where do you have those pivot numbers? Are you sure it's properly set up? R2=1.4311 in my setup. ?!?
  • #103,594
  • Jun 1, 2009 2:18am Jun 1, 2009 2:18am
Quoting Atlast
Below 1.4221 and I am short again. With any momentum we should see some nice moves, otherwise it's another wait.

IS this a H&S setup?
  • #103,595
  • Jun 1, 2009 2:19am Jun 1, 2009 2:19am
Quoting stewrigh
Think it might run out of steam soon.
It has.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #103,596
  • Jun 1, 2009 2:19am Jun 1, 2009 2:19am
I believe Pivot Points depend on the time zone of your broker and its closing time.
  • #103,597
  • Jun 1, 2009 2:20am Jun 1, 2009 2:20am
Hi any idea if EU short could be a scalp to TP 1.4165 or any reason for further drop lower?
  • #103,598
  • Jun 1, 2009 2:20am Jun 1, 2009 2:20am
Quoting negro wolf
hi fx friends
i quited of my 2nd long
my s.l was as my buy at 1.4184
and i quit at 1.4218
cuz i seen on my test chart a reversal candle + resistance line
please correct me if i wasnot wise to go out
Always wise to take a profit when you see the trip about to end. You could always get back in if it doesn't, and depends on your TF. If that is the Tf you are trading then what's wrong to get out when the candle gets broken, if broken.
  • #103,599
  • Jun 1, 2009 2:21am Jun 1, 2009 2:21am
Quoting TheFisherman
Where do you have those pivot numbers? Are you sure it's properly set up? R2=1.4311 in my setup. ?!?

sdx sweet pivot

and what about the reversal candle ??
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #103,600
  • Edited 2:23am Jun 1, 2009 2:21am | Edited 2:23am
Quite alot of inside and outside bars on the 5min.
550 traders viewing now, 1 is registered:
tehboy