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EURUSD

  • #116,561
  • Jun 30, 2009 12:28pm Jun 30, 2009 12:28pm
Quoting gatorinla
hows that working out for you?
did I mention I understand it ?

I am asking for help in FF and in other places. you could redirect this question to gurus and they will give you the right answer .
I SEE YOU !!
  • #116,562
  • Jun 30, 2009 12:29pm Jun 30, 2009 12:29pm
Quoting dbfusion
but it meant 80 pips in that hour . and if you know what most likely will happen on certain figures you could make fortune out of those 80 pips

I don't know how can you say that knowing and understanding news bulletins and the behavior of the market on economic events is useless.
let me know when you perfect it.. till then im out..
those who can, do. those who cant, talk about those who can
  • #116,563
  • Jun 30, 2009 12:30pm Jun 30, 2009 12:30pm
Quoting Patience
It could just have been end-of-month, end-of-quarter profit taking and the Consumer Confidence figure was just an excuse to take them.
yes.. let see if history repeats..
those who can, do. those who cant, talk about those who can
  • #116,564
  • Jun 30, 2009 12:31pm Jun 30, 2009 12:31pm
Quoting gatorinla
let me know when you perfect it.. till then im out..
ok I will let you know that time .
I SEE YOU !!
  • #116,565
  • Jun 30, 2009 12:40pm Jun 30, 2009 12:40pm
Quoting gatorinla
yes.. let see if history repeats..
Whatcha talking about Willis? Market meldown in August again? We are still in Summertime slop/chop range. Break and hold under 1.3740/50 and I might start looking at things a little differently. Remember we also had that spike down in August 2007 as well (more obvious on AUD than EUR).
Nothing worth having is easy.
  • #116,566
  • Jun 30, 2009 12:41pm Jun 30, 2009 12:41pm
I hope that this thing tanks. I have been holding on to a bad trade to long. 2 weeks.
  • #116,567
  • Jun 30, 2009 12:46pm Jun 30, 2009 12:46pm
Quoting F.x.
News is always 50/50, in other words, completely unpredictable. The only prediction you can make is "If news is good, price will do this" or "If it is bad, it will do this."

I use my explanation to do that and the outcome of news always makes perfect sense to me based on the facts when applied to my explanation, even though the outcome is always the opposite of what everyone else seems to be saying it "should be" based on the numbers and they wonder why "it's not doing what it's supposed to" when it makes perfect sense to me (regardless...

so why it called "high risk , high gain"
  • #116,568
  • Jun 30, 2009 12:49pm Jun 30, 2009 12:49pm
Closed my long position at 4045 for 35 pip gain. Did not go for more because I'm basically leery that this long bullish consolidation pattern will have to come to an end soon. The next long move either has to break this triangular pattern or stay roped into it and set a distinct lower high. Either way those are good signals. If the range breaks before that, thats also a good signal. I favor a bear break but I woulnd't want to trade it at this point. Staying out til market shows more.
  • #116,569
  • Jun 30, 2009 12:50pm Jun 30, 2009 12:50pm
This rule requires that orders be executed First In, First Out (FIFO). FIFO requires that when multiple positions are held in the same currency pair, the position which was first opened will be the first to be closed. Stop loss and limit orders do not comply with FIFO.

The NFA's stance is that FIFO provides more transparency to customers, offering a more accurate picture of the P/L than viewing the results of individual positions. This brings the forex market more in line with the practices of the futures and equities markets.
:nerd:
  • #116,570
  • Jun 30, 2009 12:52pm Jun 30, 2009 12:52pm
Quoting Patience
Whatcha talking about Willis? Market meldown in August again? We are still in Summertime slop/chop range. Break and hold under 1.3740/50 and I might start looking at things a little differently. Remember we also had that spike down in August 2007 as well (more obvious on AUD than EUR).
i dont have the oil chart for aug 2007 but id bet commodities dived on that tf too..
those who can, do. those who cant, talk about those who can
  • #116,571
  • Jun 30, 2009 12:53pm Jun 30, 2009 12:53pm
Quoting Patience
It could just have been end-of-month, end-of-quarter profit taking and the Consumer Confidence figure was just an excuse to take them.
Bingo. I expected the end-qtr stock sell-off & saw last night's spike as a pre-dump pump. Shorted from .4120 tp .4020 woke up $1k richer. 100 pips in one trade for a scalper like me - who'd a thunk it?

Btw, whoever gets the 7th post on the 7777th page of this thread will immediately burst into flames.

Be careful.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #116,572
  • Jun 30, 2009 12:57pm Jun 30, 2009 12:57pm
I think we shouldn't go under 1.40 and wave 5 start here
  • #116,573
  • Jun 30, 2009 1:04pm Jun 30, 2009 1:04pm
Quoting gatorinla
i dont have the oil chart for aug 2007 but id bet commodities dived on that tf too..
High: 78.72
Low: 68.63
Open: 77.93
Close: 73.83

You have Metatrader don't you? My oil chart is #CLQ9. Can put up chart if you like.
Nothing worth having is easy.
  • #116,574
  • Jun 30, 2009 1:06pm Jun 30, 2009 1:06pm
Quoting The Fool
Bingo. I expected the end-qtr stock sell-off & saw last night's spike as a pre-dump pump. Shorted from .4120 tp .4020 woke up $1k richer. 100 pips in one trade for a scalper like me - who'd a thunk it?
Nice one
Nothing worth having is easy.
  • #116,575
  • Jun 30, 2009 1:08pm Jun 30, 2009 1:08pm
Goodjob The FOOL....I took the same trade! BUT....I had a couple positions at 4100 and 4120.....I had a stop in at 1.4150....and it hit and took me out....I woke up thinking the same thing but I had a lost.....by one pip! Always....Always happens....i could have put the stop at 4165 and it would have hit it and gone down....I really think there is Bad luck and Good luck....I seem to have the Bad...at least now.....

That's a good feeling I am sure for you....so I am happy for you!!!
  • #116,576
  • Jun 30, 2009 1:09pm Jun 30, 2009 1:09pm
Quoting egkid
I think we shouldn't go under 1.40 and wave 5 start here
Please post a chart demarking the wave pattern so far. It will help many better understand what you are seeing. Thank you.
  • #116,577
  • Jun 30, 2009 1:18pm Jun 30, 2009 1:18pm
Well..triangle is still intact. We saw an attempt to break higher during the Euro session however it was short lived. All that did instead is "extend" the upper wall of the triangle. 1.4000 is close to the midpoint of the triangle and a breakout is still what Im looking for (while scalping within the range). Where this breakout will occur..who knows...when it will occur..there is a very good chance it will happen Thursday as thats when the ECB will hold its rate meeting (and more importantly the statement that follows..whether Trichet is hawkish or dovish with his inflation nonsense...) as well as some crucial data out of the US including Non-farm employment change.

So yeah..nothing exciting just yet...only a range that continues to get smaller in between roughly 1.4100 and 1.3900 (perfect for scalping if you know how). Thursday however..we may see early 4th of july fireworks and insane volatility.

Good pippin all

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Different opinions highly valued, ignorant to slander.
  • #116,578
  • Jun 30, 2009 1:23pm Jun 30, 2009 1:23pm
Evening all.
IMarichi1, your positions and SL are open on all round numbers. Are you surprised your SL got hit. You should stop trading until you know how to read supply and demand properly. Seriously. Have a look at the daily chart. Where do you think price stopped on the move up.
Nothing fundamentally has changed. Markets move on perception. Guess what the low fell right on target as well as the high.
Ciao
  • #116,579
  • Jun 30, 2009 1:28pm Jun 30, 2009 1:28pm
Quoting Patience
High: 78.72
Low: 68.63
Open: 77.93
Close: 73.83

You have Metatrader don't you? My oil chart is #CLQ9. Can put up chart if you like.
nope dont have it..
those who can, do. those who cant, talk about those who can
  • #116,580
  • Jun 30, 2009 1:31pm Jun 30, 2009 1:31pm
Quoting IMARICH1
Goodjob The FOOL....I took the same trade! BUT....I had a couple positions at 4100 and 4120.....I had a stop in at 1.4150....and it hit and took me out....
I had a 100-pip sl so I was shootin 1:1, risking roughly all of Sunday-Monday profits. Normally I would have scalped down that spike taking 10 pips at a time or so, but I have been having connectivity problems so I had to be a swing trader.
"If The Fool persists in his Folly he will become wise." - William Blake
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