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  • #12,261
  • Jun 24, 2009 9:19am Jun 24, 2009 9:19am
It hit 1.4014 again. but I decided to stay flat though I think E/U will hit at least 1.4100 today if not higher.
I think if E/U reaches and crosses 1.4100, 1.4150 will act like a sh*t magnet.
  • #12,262
  • Jun 24, 2009 10:27am Jun 24, 2009 10:27am
Looks like we are going down again in GBP/JPY:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4.gif Size: 19 KB
  • #12,263
  • Jun 24, 2009 11:21am Jun 24, 2009 11:21am
A question about history and future. Has the trading of support&resistance areas always been the same in the currency and commodity markets? Have there been different S&R patterns as we know today; bucket bottoms, spike bases etc? And most important, is it sure they will work in the future?
  • #12,264
  • Jun 24, 2009 11:56am Jun 24, 2009 11:56am
Quoting fx-Junior
A question about history and future. Has the trading of support&resistance areas always been the same in the currency and commodity markets? Have there been different S&R patterns as we know today; bucket bottoms, spike bases etc? And most important, is it sure they will work in the future?
As far as S&R, if you look at it with the mentality that those levels are there because that's where buy/sell orders are stacked, it would make sense to say that S&R/aka big order seeking, will remain in practice as long as there is trade.

As long as there are bigger buyers and bigger sellers than us, we will be attempting to find what price SUPPORTS buyers and what RESISTANCE yields sellers.

As for bucket bottoms/spikes bases...someone else can take that on. I imagine it's regarded in similar fashion as good old S&R.
  • #12,265
  • Jun 24, 2009 12:12pm Jun 24, 2009 12:12pm
I saw your intraday scalping technique and had some questions. First, where did you get your support/resistance horizontal lines? Second, I can't find your actual system, and how your read the "stabby" lines. Would you clarify and point me in the direction of where you posted the entire system?
Thanks.
  • #12,266
  • Jun 24, 2009 12:26pm Jun 24, 2009 12:26pm
So tempting to take a short on the EUR/USD as we come to test the underside of that 1.40 resistance...unfortunately, too much BS about to erupt over the next hour with FOMC, etc.
  • #12,267
  • Jun 24, 2009 1:13pm Jun 24, 2009 1:13pm
Can anyone tell me how to get the Alert that pops up to buy or sell (with a bell on it) on my Metatrader?
  • #12,268
  • Jun 24, 2009 1:50pm Jun 24, 2009 1:50pm
I guess there will be safer times to make money.
So, I am flat.
Actually, fluctuations were such that 40 pips would be out in no time.
I personally put safety of my account in front of questionable opportunity to earn some money.
  • #12,269
  • Jun 24, 2009 1:53pm Jun 24, 2009 1:53pm
Very wise words Shiko
Enter Signature
  • #12,270
  • Jun 24, 2009 6:46pm Jun 24, 2009 6:46pm
A bit shorter term than I usually watch but it looks like a nice level with the opportunity to have a tight stop. The 50% fib retrace of the move down comes in at the upper resistance line/1.4012.

http://img223.imageshack.us/img223/4964/eujune24.th.png
  • #12,271
  • Jun 25, 2009 5:46am Jun 25, 2009 5:46am
Thanks

As I told there will be better times to make easier money ;-)
Tonight 80 pips.
This week already up 280 pips net. 25 trades. 22 won T/P, 3 loss S/L/

I traded mostly small money. except for Monday and Tuesday. But I am going to increase it since June 30-July 1 to 1,5:1 leverage.
  • #12,272
  • Jun 25, 2009 6:09am Jun 25, 2009 6:09am
Quoting shiko
Thanks

As I told there will be better times to make easier money ;-)
Tonight 80 pips.
This week already up 280 pips net. 25 trades. 22 won T/P, 3 loss S/L/

I traded mostly small money. except for Monday and Tuesday. But I am going to increase it since June 30-July 1 to 1,5:1 leverage.
great work shiko!

what are you watching today?
  • #12,273
  • Jun 25, 2009 6:26am Jun 25, 2009 6:26am
Quoting shiko
Thanks

As I told there will be better times to make easier money ;-)
Tonight 80 pips.
This week already up 280 pips net. 25 trades. 22 won T/P, 3 loss S/L/

I traded mostly small money. except for Monday and Tuesday. But I am going to increase it since June 30-July 1 to 1,5:1 leverage.
Really Great shiko
Remember me?
You used to risk 40 pip for 5 - 20 pip... how is your R:R ratio now?
  • #12,274
  • Jun 25, 2009 6:54am Jun 25, 2009 6:54am
Thank you.

I watch always 3 pairs. E/U, G/U and E/J.
G/U is approaching weeks low...so, I am naturally watching it. 1.6205-16185


I still trade same 40 pips stop loss and 16-20 take profit.
I set positions for night and go to sleep and results are better than when I watch. i still tend to close them too early. At night it is either S/L or T/P.
Monday-Tuesday I traded good sizes. 1 loss the rest won, but since it is the end of the month, I decided to trade with very small sizes but to collect statistics and improve positioning. So far it is going ok. Let's see 4 more days.
I will post results.
  • #12,275
  • Jun 25, 2009 7:08am Jun 25, 2009 7:08am
Also watching E/U to go long at 1.3825-1.3800 and then 1.3745.

I only wonder if the price will reach those targets. If no, I will be watching for shorting opportunity.
  • #12,276
  • Jun 25, 2009 7:25am Jun 25, 2009 7:25am
Quoting shiko
Thank you.

I set positions for night and go to sleep and results are better than when I watch.
Hahaha...

Thanks for your update... keep posting please, you are one of my role models.
  • #12,277
  • Edited 8:33am Jun 25, 2009 7:32am | Edited 8:33am
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jun. 25 14.22.gif Size: 20 KB

What do you think about Selling USD/CAD at 1.1794.
Level has a nice history(both Support and resistance) and it's 61.8% Fib.
  • #12,278
  • Jun 25, 2009 9:07am Jun 25, 2009 9:07am
Quoting Lookashek
Attachment
What do you think about Selling USD/CAD at 1.1794.
Level has a nice history(both Support and resistance) and it's 61.8% Fib.
A werry nice level for me. I would like to see cad retracing little bit, these moves are over extended for me.
  • #12,279
  • Edited 10:18am Jun 25, 2009 9:59am | Edited 10:18am
Quoting Lookashek
Attachment
What do you think about Selling USD/CAD at 1.1794.
Level has a nice history(both Support and resistance) and it's 61.8% Fib.
Looks like a great level, I have my call alerts set. Thanks for posting

*How's that weather over on the West side seattlerust?
  • #12,280
  • Jun 25, 2009 10:39am Jun 25, 2009 10:39am
Another I'm watching...

http://img230.imageshack.us/img230/3875/ujjune25.th.png
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