EURUSD

Mistress doesn't let me in the basement by myself.

Seriously, though, don't you think we are due for a healthy greedy day in the US stocks? S&P futures are up, oil is flat. Would someone please tell me when these correlations no longer rate...?

I am looking for a new weekly high in the next 24 hr.

That's what they'll have you believe. It's turtles all the way down. Don't be fooled!

I would love for it to go up,

so it can come down harder!

There develops a bullish butterfly in lower TF min level 1.3903 but now price going up & so may see short oppurtunity at over 1.3945 area.developing shorts & see channels where below 1.3903 should be 1.3870 to 1.3844 .
fontu

Yeah man! The term is not "loose women", it's "$2 Whores".

I am looking at my M5 candle chart. Mostly the strongest/quickest moves in the last couple hours are southbound. Long moves are composed of tiny little dinky little candles.

What does it mean?

SL look just the same as a continuation type order (Sell stop /buy stop in metatrader) while TP looks like a limit order. That's why brokers like SL rather than TP's. Because SL's add to momentul while TP stops momentum.

Does it mean Big Dog wants to keep the price down...for a while...?

It means it goes north seriously. Saw this kind of stuff before. It's FO. Enjoy.

You are probably over trading if you are guilty of the following:

1. If one chart indicator doesn't have a clear trading signal, you switch indicators until you find one that does (or looks like it does). What you're really doing in this situation is trying to find a signal that you can read enough into to justify placing a trade. The fact is, there are times when there just aren't any good trades to be had and you should be sitting on the sidelines. If you can't accept that, you'll end up making lots of trades you shouldn't.

2. You feel the urgent need to place a trade within five minutes of opening a forex chart. Just looking at the chart makes you feel you absolutely must be trading right now, and anytime you open a chart you spot some trend or indicator that you should be taking advantage of. You're a bit like the person who needs to place a bet anytime they walk by a roulette table.

3. When you're away from your forex trading platform, you feel like you're constantly missing trades. You feel intense frustration and disappointment when you see a trade you could've made but didn't. You spend a lot of time thinking about those trades you missed. Sometimes you wish you could stay awake 24 hours a day because then you wouldn't miss out on all those trades.

4. You have a trading system but you constantly make exceptions to it. You have an ever-growing list of excuses and rationalizations for why you trade outside your system:

* You'll only do it once (until next time)
* You're not risking very much
* The chart is showing the perfect trade set-up and you'll miss out on huge profits
* Look how active the market it right now! I have to trade since everyone else is.
* I'm trying out this new experimental strategy (well, then try it out on a demo system)
* This trade is actually part of my system, since I keep extending my system to include all my trades
* My system hasn't been working lately anyway
* It'll take my system at least a year to make me rich and I want to be rich next week

5. You're focused on "the one big trade" that will make up all your losses, and you're willing to make dozens of ill-advised trades just to make sure you don't miss that big one. And guess what, you discover no one trade is going to make up for all you've lost in bad trades and spread costs. At this point you might as well be buying lottery tickets.

6. You think that trading more often will make you more money. "If I can make this many trades with the 5-minute chart, imagine how many I can make with the 1-minute chart!"

My experience has been the opposite.

7. You think that anticipation, anxiety, impatience, urgency, late nights, a pounding pulse, and the rush of adrenaline are all part of trading and there's no way to trade without them. You're under the impression that you're more likely to trade well under these conditions.

8. You make trades so you can tell people about them. "Yeah, I traded the zloty at 3:00 am last night - pretty crazy, eh?" Yes, you're a brilliant, maverick currency trader, and you'll be broke in a month.

9. You have a "gut instinct" for trades that makes different, contradictory predictions every time it kicks in.

10. You can always find a way that your trade could have gone well, if you'd only done X, Y, and/or Z, and you resolve to do all of those next time. In fact, just to prove how well they'll work, you're going to trade again right now.

11. You cut short your weekend so you can trade on Sunday evening when the Asian markets are open. In fact, you find the whole weekend concept very inconvenient since you'd much rather be trading on Saturdays.

12. You have a history of being addicted to things and forex is the latest. This is no joke - there's a very real high to be gotten from trading, akin to the high from gambling or other addictive activities, and if you're especially sensitive or vulnerable to that type of response, you should be very careful about venturing into the currency markets. This is related to #7 above - many of the reactions I listed there are part of a potentially addictive physiological response, particularly for those with a predisposition in that direction.

Hey, Fisherman, how do you know that? That sounded pretty official. Are you one of Big Dog's men?

There is still the butterfly but price moved prematurely significantly up over 61.8% fib & should fail again but still developing more shorts for more pips .
fontu

its a trap!

good call

Good morning traders. I see everyone is thinking short. Hmmm...

Apparently, now I see my shorts coming positive & this time I will not closed with 15-30 pips as thought before . Will wait for 100 pips many of them before the next real bull from there again.
fontu

you see the pair going down by 100 pips....?

I'm th biggest of dogs

- this kind of stuff happens during the Power Hour. I think Power Hour is one of the most predictable periods for me.

Well, it touched the weekly pivot...

We've got some news out today it may play a role too