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  • #183,521
  • Jul 1, 2009 9:37am Jul 1, 2009 9:37am
Quoting malcolmb14
adp bad , housing bad , etc etc . Market going up based on some BS news that china maybe under recovery.

Look at the ES just being bought on dips today.

I am out for the week as we not only have NFP but a whole host of other things tomorrow like treasury auctions and right before along weekend when liquidity / volume will be low.

also took 110 pip hit on my gj sell order. Week was ok , not brilliant , still a wee bit of profit for week and want to keep it that way


the up move off 158.2 has been on no volume so just a matter of time before...
It definitely smells like a false buy signal to me.
  • #183,522
  • Jul 1, 2009 9:42am Jul 1, 2009 9:42am
Quoting ukdaytrader
Reasonable risk/reward for the long to 160.20 if you've got the balls..

i am with you ....i join ur ship ...hope we safe.
MY OPINION NOT FINANCIAL ADVISE
  • #183,523
  • Jul 1, 2009 9:46am Jul 1, 2009 9:46am
Quoting ewokuk
110 pip? i thought you only had max 40 pip stoploss

think mine was just over 100. got a long at the moment with stop pretty tight, hoping it breaks 160 to try and recover some of this. be real good if it does, i can put my stop under 160 so it has a bit of support between me and price.

when u Join moving train you keep ur money on high risk ...wait for clear direction u enter and know that u feel comfortable with that...picking any entry or try to revenge in the market is not wise..just IMO..
MY OPINION NOT FINANCIAL ADVISE
  • #183,524
  • Jul 1, 2009 9:47am Jul 1, 2009 9:47am
Hows everybody doing ??

GJ range mode since London today ... but Asia was nice. EU and GU much better to trade for me today ... I caught clean moves with them.

Tomorrow is NFP day .. be careful plz ...
Discipline + Patience - Fear - Greed = Success
  • #183,525
  • Jul 1, 2009 9:49am Jul 1, 2009 9:49am
Took a long at 159.61.....
  • #183,526
  • Jul 1, 2009 9:53am Jul 1, 2009 9:53am
Quoting donfriday
i am with you ....i join ur ship ...hope we safe.
..See what happen NFP tomorrow
  • #183,527
  • Jul 1, 2009 9:57am Jul 1, 2009 9:57am
looked like 160 had been rejected so i shorted it. damn if this thing makes it back below this 50 area ill be happy

tight stop at 65 though so hope it doesnt bounce.
  • #183,528
  • Jul 1, 2009 10:01am Jul 1, 2009 10:01am
Quoting ukdaytrader
Took a long at 159.61.....
Add to short at 159.86. looks like a H/S on 1hr and the rise from158.3 is with no volume. but just a bull trap. also looks like a double top on the same 1hr, depends on how u view it. im seeing a down move to atleast 157.50 first then 156.xx
  • #183,529
  • Edited 10:15am Jul 1, 2009 10:04am | Edited 10:15am
managed to take 30 on a long from 50 area after closing my short after ism data. took 31 on the way down just now. gone long again at 44 on the basis that i think the fast drop was due to the lodno fixing at 15:00gmt and the up move (false or not) may now continue for a bit back to a test of 160 again maybe. if this one comes off ill have recovered all the losses from the bad short, be very happy!
  • #183,530
  • Jul 1, 2009 10:05am Jul 1, 2009 10:05am
Quoting beejay
Add to short at 159.86. looks like a H/S on 1hr and the rise from158.3 is with no volume. but just a bull trap

Forex is amazing, full opinion and i like the challenge..when someone long others short ..i try to ask myself sometime why dont we have same bias and trade the same direction , still cant find the answer.
MY OPINION NOT FINANCIAL ADVISE
  • #183,531
  • Jul 1, 2009 10:06am Jul 1, 2009 10:06am
Quoting ewokuk
looked like 160 had been rejected so i shorted it. damn if this thing makes it back below this 50 area ill be happy

tight stop at 65 though so hope it doesnt bounce.

I don't think so man. Lets watch and see the NFP and EU' new interest rate on coming. I am waiting for the uptrend to 162.xx that re-testing the last month' top. I just say on this week and maybe the next.

Pham.
  • #183,532
  • Jul 1, 2009 10:13am Jul 1, 2009 10:13am
Quoting fxgrnwise
Thanks for posting Malcomb,
Sorry about your loss I know you don't trade micros.
Thanks

losses are part of this game . I could have held and next week would have got out with mucho profit. But it is Canada day here , want to spend time with my family instead of worrying about the trade , also cutting the loss will free my mind to scalp a 5 min chart. Whenever I try to get a 200 pip plus trade it never goes well !!! lol ... should just stick to scalping
Blogging daily now at www.volume.zone
  • #183,533
  • Jul 1, 2009 10:26am Jul 1, 2009 10:26am
Quoting malcolmb14
adp bad , housing bad , etc etc . Market going up based on some BS news that china maybe under recovery.

Look at the ES just being bought on dips today.

the markets being manipulated up in low volume before long weekend in US is a strong sign that they may reverse next week
Mate, have a look little bit bigger picture. ES looks like forming a reversal Pattern on daily, and reversal on all Trend we had from Midd February.

We are in a chanel which ES respect very well on 4h or 8h.. and we are heading to 930.0 [as Fib 61.8] and forming a Head and Shoulder as a topping [reversal] pattern .. very common as a revesal on those type of Bull Runs [retracements] in BEAR MARKET

So far we touched F61.8 and ALL is sett for a retracement,, but carefuly we have to wait on NFP report, before anything happend.. So far we are like an Elephant in a Crystal Store...

Level to watch is a break of the LTL on 4/8h chanel currently at 910.0 level and then a test of the NL at 900.00

[Charts]
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  • #183,534
  • Jul 1, 2009 10:28am Jul 1, 2009 10:28am
Quoting Piters
Mate, have a look little bit bigger picture. ES looks like forming a reversal Pattern on daily, and reversal on all Trend we had from Midd February.

We are in a chanel which ES respect very well on 4h or 8h.. and we are heading to 930.0 [as Fib 61.8] and forming a Head and Shoulder as a topping [reversal] pattern .. very common as a revesal on those type of Bull Runs [retracements] in BEAR...

hehehe pit...happy to see you , whats new ...?
MY OPINION NOT FINANCIAL ADVISE
  • #183,535
  • Jul 1, 2009 10:30am Jul 1, 2009 10:30am
Quoting donfriday
Forex is amazing, full opinion and i like the challenge..when someone long others short ..i try to ask myself sometime why dont we have same bias and trade the same direction , still cant find the answer.
and am believe

EMC2= Emotion X Method X(control margin)2 = incremental of Equity

That is what i learn since am joining forex.....for me no matter how good in technical we r, we still not able to know what PA will go....i realize then very very important is...how we control our emotion....

Just my poor opinion......
Anyway good luck mate..see u in asian tomorrow...enough for me for 130pips today..see u then...
  • #183,536
  • Jul 1, 2009 10:31am Jul 1, 2009 10:31am
Quoting donfriday
hehehe pit...happy to see you , whats new ...?
scalping bro.. Im good.. been busy lately.. Hope you are not borred with the PA ...

cheers
  • #183,537
  • Jul 1, 2009 10:35am Jul 1, 2009 10:35am
Quoting Piters
Mate, have a look little bit bigger picture. ES looks like forming a reversal Pattern on daily, and reversal on all Trend we had from Midd February.

We are in a chanel which ES respect very well on 4h or 8h.. and we are heading to 930.0 [as Fib 61.8] and forming a Head and Shoulder as a topping [reversal] pattern .. very common as a revesal on those type of Bull Runs [retracements] in BEAR MARKET

So far we touched F61.8 and ALL is sett for a retracement,, but carefuly we have to wait on NFP report, before anything happend.. So far we...
Hows life mate....ur post
  • #183,538
  • Jul 1, 2009 10:37am Jul 1, 2009 10:37am
Quoting Piters
scalping bro.. Im good.. been busy lately.. Hope yo uar enot borred with the PA ...

cheers

that is the last question u should ask like u dont know what PA look like right now ... i am over bored but everything will be fine maybe it's MJ ..kinda nervous where GJ is heading to but we have this week to testify next week should be fabulous....good u scalping better than waiting for huge pips..
MY OPINION NOT FINANCIAL ADVISE
  • #183,539
  • Jul 1, 2009 10:38am Jul 1, 2009 10:38am
Quoting grashid
Hows life mate....ur post
yes bro,, we need some Chill pills.. and a bit of patience
  • #183,540
  • Jul 1, 2009 10:41am Jul 1, 2009 10:41am
Quoting Piters
yes bro,, we need some Chill pills.. and a bit of patience
maybe I need to change from Karmo pil to piter pil ..as Karmo seldom exist with his busy secreet mission with aus...
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