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  • #113,541
  • Jun 23, 2009 8:30am Jun 23, 2009 8:30am
What a wild move off the lows! I was expecting 1.3935 to get hit so I could add some serious shorts there (good thing I slept though)...but here we are staring at 1.4000 +. Logic says this is a good area to short but is it really?

In my opinion there are no shorts here...no longs either until one thing occurs roughly 3 hours and a half from now. That is the 2 year bond auction..yes another one...the motive in my opinion for the sharp Eur/Usd gain....and maybe after its all done with ..just maybe...shorts will come back into play.

As for me..flat until then...I advise caution to all
Different opinions highly valued, ignorant to slander.
  • #113,542
  • Jun 23, 2009 8:30am Jun 23, 2009 8:30am
short of 1.4006 (lower high on the 5min chart - going for 50 pips)
  • #113,543
  • Jun 23, 2009 8:37am Jun 23, 2009 8:37am
Quoting notch
Gator, are you still scalping with the THV system?
no.. i was using stoc and 8 emn 21 ema macd on 5m 15m 30 1h 4h
gasoline copper ect. down double digits..excluding today .... this may just be a headfake for a large move.. keep you eyes open and your mind open.

ill consider longs above 4100...but system says no below..
those who can, do. those who cant, talk about those who can
  • #113,544
  • Jun 23, 2009 8:39am Jun 23, 2009 8:39am
I have opened (sell) at 1.3996 at dt on 4h chart, but it is in that zone more than 1 hour, now I am not sure to close it with small loss or to wait it to go down.
  • #113,545
  • Jun 23, 2009 8:41am Jun 23, 2009 8:41am
Quoting welshguy2000
short of 1.4006 (lower high on the 5min chart - going for 50 pips)
May I ask what would be your SL? Thanks
  • #113,546
  • Jun 23, 2009 8:44am Jun 23, 2009 8:44am
How long does the auction last?
Better safe than sorry
  • #113,547
  • Jun 23, 2009 8:44am Jun 23, 2009 8:44am
Thanks for the reminder!

Quoting psiholog
What a wild move off the lows! I was expecting 1.3935 to get hit so I could add some serious shorts there (good thing I slept though)...but here we are staring at 1.4000 +. Logic says this is a good area to short but is it really?

In my opinion there are no shorts here...no longs either until one thing occurs roughly 3 hours and a half from now. That is the 2 year bond auction..yes another one...the motive in my opinion for the sharp Eur/Usd gain....and maybe after its all done with ..just maybe...shorts will come back into play.

As for...
  • #113,548
  • Edited 8:59am Jun 23, 2009 8:45am | Edited 8:59am
Quoting sinisabrkic
I have opened (sell) at 1.3996 at dt on 4h chart, but it is in that zone more than 1 hour, now I am not sure to close it with small loss or to wait it to go down.
This is a problem we all face at first. Here is a simple way to determine whether to close a position or not. Now we all have strategies right?...reasons for entry in any positions....and hopefully reasons for exit at designated targets. When the entry point is where pa is hanging around or your facing a small loss for the moment you should always ask yourself this when you start having doubts.....

Are my original reasons for entry still valid? If the answer is yes..leave the position alone and have stop loss just in case..according to your strategy. If the answer is no...the entry reasons are not there anymore...there is no point to being in any positions as you are just gambling. Another entry is always right around the corner....as long as you are sticking to strategy.

Hope this helps
Different opinions highly valued, ignorant to slander.
  • #113,549
  • Jun 23, 2009 8:45am Jun 23, 2009 8:45am
Only 15 minutes until House Price Index and Existing Home Sales data. Existing home sales expected to increase to 4.82M though one could imagine the increase is due to foreclosures being sold.

Richmond Fed Index also expected to be a positive 5 reading. A far cry from the -55 we saw during the depths of despair in December.

Anyone planning to trade these news events?
  • #113,550
  • Jun 23, 2009 8:45am Jun 23, 2009 8:45am
Quoting sinisabrkic
I have opened (sell) at 1.3996 at dt on 4h chart, but it is in that zone more than 1 hour, now I am not sure to close it with small loss or to wait it to go down.

News in less than 15mins...and a auction this afternoon....be careful.
  • #113,551
  • Jun 23, 2009 8:46am Jun 23, 2009 8:46am
Quoting Jeg
May I ask what would be your SL? Thanks
Wanted to ask the same thing LOL.

I considered that trade, but didn't like the risk:reward...
  • #113,552
  • Jun 23, 2009 8:47am Jun 23, 2009 8:47am
Quoting psiholog
This is a problem we all face at first. Here is a simple way to determine whether to close a position or not. Now we all have strategies right?...reasons for entry in any positions....and hopefully reasons for exit at designated targets. When the entry point is where pa is hanging around your entry point or your facing a small loss for the moment you should always ask yourself this when you start having doubts.....

Are my original reasons for entry still valid? If the answer is yes..leave the position alone and have stop loss just in case..according...
Exactly what i meant to say! EXCELLENT! LOL!
  • #113,553
  • Jun 23, 2009 8:50am Jun 23, 2009 8:50am
any one short here ???
  • #113,554
  • Jun 23, 2009 8:51am Jun 23, 2009 8:51am
Quoting Jason Rogers
Only 15 minutes until House Price Index and Existing Home Sales data. Existing home sales expected to increase to 4.82M though one could imagine the increase is due to foreclosures being sold.

Richmond Fed Index also expected to be a positive 5 reading. A far cry from the -55 we saw during the depths of despair in December.

Anyone planning to trade these news events?

So basically it will make us spike or make us drop, depending on how the data is interpreted. That makes it a crap shoot.

No, I don't "trade news." That is the only time when your chances are only 50/50 (the worst possible for anyone that can actually be called a "trader.")

However, I do already have an open position, so it will remain open during news, come hell or high water... and if we drop through support levels, I will add to my position and ride this train down...
  • #113,555
  • Jun 23, 2009 8:51am Jun 23, 2009 8:51am
i opened short 1.996 We will see
"Buy on fear, sell on greed !!!
  • #113,556
  • Jun 23, 2009 8:53am Jun 23, 2009 8:53am
if your not in stay out.. for 30 m.. not a good time to jump in now. let news dust settle
those who can, do. those who cant, talk about those who can
  • #113,557
  • Jun 23, 2009 8:53am Jun 23, 2009 8:53am
Quoting macd
any one short here ???
Hiya,
I'm sizing up a short as my TRIX indicator on the 5min has been showing some serious divergence for a while now....just waiting for lower high + up trenline break and trix below zero (I trade THV) before taking a short....good luck
  • #113,558
  • Jun 23, 2009 8:54am Jun 23, 2009 8:54am
Quoting trading801
depending on how the price react during US,

we can be looking at 1 if up or 2 as a support and then 3 if short

what do you think?

can someone criticize my charting skills? anything i am off?
  • #113,559
  • Jun 23, 2009 8:55am Jun 23, 2009 8:55am
Quoting psiholog
What a wild move off the lows! I was expecting 1.3935 to get hit so I could add some serious shorts there (good thing I slept though)...but here we are staring at 1.4000 +. Logic says this is a good area to short but is it really?

In my opinion there are no shorts here...no longs either until one thing occurs roughly 3 hours and a half from now.
As for me..flat until then...I advise caution to all
It's a virtual mirror image of yesterday's action. We now have 8 hourly green bars and testing 2 upper pitchfork extremes. I'm plying the probabilities with, as you say caution in mind. I see 1.4100 before any major reversal, but looking for intraday retrace.
  • #113,560
  • Jun 23, 2009 8:56am Jun 23, 2009 8:56am
Quoting gatorinla
if your not in stay out.. for 30 m.. not a good time to jump in now. let news dust settle


Gator?....I'm almost afraid to ask what is your avatar showing now?
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