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  • #130,221
  • Aug 11, 2009 7:48pm Aug 11, 2009 7:48pm
Quoting Chicky
Yes, above is weak TL and below is a strong one. My money is on Bulls, on daily TF.
Yes on Daily no doubt, but there can be quite a complex turn of events before that big trend resumes-for now though consider how oppressed this correction has been generally, you can't count out a small to med move down...
  • #130,222
  • Aug 11, 2009 7:55pm Aug 11, 2009 7:55pm
Quoting stevefx
Yes on Daily no doubt, but there can be quite a complex turn of events before that big trend resumes-for now though consider how oppressed this correction has been generally, you can't count out a small to med move down...
This is one reason I am long. If longs do not work, many pips on the downside, enough to cover plus make some more.

To me, trend is a trend until broken. I try to squeeze trend up to its last drop ....... sometimes, last drops turn out to be the first
The Thief of Wall Street
  • #130,223
  • Aug 11, 2009 8:18pm Aug 11, 2009 8:18pm
Anyone ever had a relative over that they really didn't want to entertain,
but because it's a relative, you feel obligated to suffer them for a while.

That's what we got in Euro tonite.

Pivot (have mine at 14147) got touched maybe a dozen times since NY packed up, then a bounce.

So the sellers ran back into their holes and downside momentum has subsided.

The giddy-up relative has plopped himself on the sofa and is making himself comfortable.

I will have to either scalp to the upside or completely stand aside for now.

I'm not buying the Euro here, not to hold onto. Scalps only. I might buy it that way.
Or, I may trade it against something other that the US Dollar. I'll see.

But if a retracement from friday's fall is underway, I can not stand in front of it

Will continue to look for a good short op, maybe 14250-14300 range.
Won't know until PA tell us something new. So far, nothing new.
  • #130,224
  • Aug 11, 2009 8:28pm Aug 11, 2009 8:28pm
Quoting toshi
Anyone ever had a relative over that they really didn't want to entertain,
but because it's a relative, you feel obligated to suffer them for a while.

That's what we got in Euro tonite.

Pivot (have mine at 14147) got touched maybe a dozen times since NY packed up, then a bounce.

So the sellers ran back into their holes and downside momentum has subsided.

The giddy-up relative has plopped himself on the sofa and is making himself comfortable.

I will have to either scalp to the upside or completely stand aside for now.

I'm not buying the...
Yes the Euro is giving me a headache too at the present time. I just hedged my short pos. with CHF shorts-100% value. Eur shorts showing a small loss. I have some levels of concern for the Euro and 4250 as correction top is definitely on of them. Would be a fine place to close my CHF shorts.
  • #130,225
  • Aug 11, 2009 8:30pm Aug 11, 2009 8:30pm
Quoting Chicky
This is one reason I am long. If longs do not work, many pips on the downside, enough to cover plus make some more.

To me, trend is a trend until broken. I try to squeeze trend up to its last drop ....... sometimes, last drops turn out to be the first
chicky you squeezing the last drop again?
those who can, do. those who cant, talk about those who can
  • #130,226
  • Aug 11, 2009 8:32pm Aug 11, 2009 8:32pm
e-z is not hording gold 4 nothing.
those who can, do. those who cant, talk about those who can
  • #130,227
  • Aug 11, 2009 8:38pm Aug 11, 2009 8:38pm
Lot's of pivot action.

Price moved between the daily pivot and monthly a few times.

Right now... that monthly pivot is fending off the bulls.

Mike
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  • #130,228
  • Aug 11, 2009 8:41pm Aug 11, 2009 8:41pm
Quoting acumen
Lot's of pivot action.

Price moved between the daily pivot and monthly a few times.

Right now... that monthly pivot is fending off the bulls.

Mike
The monthly fended off the bulls.

I should have trading instead of writing but I'm tired and hate trading in front of uncle Ben.

m
  • #130,229
  • Aug 11, 2009 8:50pm Aug 11, 2009 8:50pm
Quoting stevefx
Yes the Euro is giving me a headache too at the present time. I just hedged my short pos. with CHF shorts-100% value. Eur shorts showing a small loss. I have some levels of concern for the Euro and 4250 as correction top is definitely on of them. Would be a fine place to close my CHF shorts.

I hear ya'. Just remember to keep 'em separated.

Only time I've had trouble doing what you're describing is when I failed to remember
what my original intention was when I first entered the trade, then when I hedged it,
then when I blew it out my ass by keeping the wrong side of the 2 trades.
Keep your eyes on your money. Try not to confuse yourself. It happens to the best of us.
That's why I'd rather stand aside and make nothing, or scalp a little here and there
than try to reguess and 2nd, 3rd, and 4th guess all the work I've already put into it.

And it's difficult, to be honest. I really want to see another good drive down and sell this puppy
worse that I want to do the guy's wife next door, and she's got this smokin' hot body,
and not an ounce of cellulite anywhere and nice perky titties and I can only dream about bouncing a quarter
off what is the tightest ass i've seen in years. OMG she's a fox. I want to sell euro that bad.

But I can't do that without the right setup.
I'll short when I can. Looking at this trend line, I can't do so until a break is evident,
and preferably, a retest an failure of same. That would be optimal.


Here' we go again, looks like it's STILL testing the pivot........
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  • #130,230
  • Aug 11, 2009 9:13pm Aug 11, 2009 9:13pm
Here's what the actual trades look like.

It's strange in hindsight.

Anyhow... that's a 108 PIPS today.

Later... lot's of crazy action before Big Ben so go watch some tv.

Mike
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  • #130,231
  • Aug 11, 2009 9:24pm Aug 11, 2009 9:24pm
Quoting toshi
I hear ya'. Just remember to keep 'em separated.

Only time I've had trouble doing what you're describing is when I failed to remember
what my original intention was when I first entered the trade, then when I hedged it,
then when I blew it out my ass by keeping the wrong side of the 2 trades.
Keep your eyes on your money. Try not to confuse yourself. It happens to the best of us.
That's why I'd rather stand aside and make nothing, or scalp a little here and there
than try to reguess and 2nd, 3rd, and 4th guess all the work I've already put into...
Yep your right, my head is spinning-this area is too complex. I just closed all my trades. I've been pwned this week and I admit it, down 1%. Step back, get a better view, tap that ass later on...thanks for the advice bro..
  • #130,232
  • Aug 11, 2009 9:24pm Aug 11, 2009 9:24pm
kiwi (nu) just woke up and making a half assed atempt to run to the border. i believe commoditys pairs like the kiwi will be the driver.. and usd as well as the yen will be a safety flight.. since the eu is traded mainly, bulls are going strictly by chart when other things are happening. it will not take much to set a lower move in motion. an upper eu move will be sluggish fighting against gravity..usdx made an upper run but with the eu barely moving and the yen it does not show up in the usdx chart. dont forget about the gold europe curved sales on. i think were on a cliffs edge and it will not take much to go over. were all chained together at the ankles..

good luck!
those who can, do. those who cant, talk about those who can
  • #130,233
  • Aug 11, 2009 9:27pm Aug 11, 2009 9:27pm
Quoting gatorinla
kiwi (nu) just woke up and making a half assed atempt to run to the border. ....snippedy snip....
Not sure if this will interest you or not, but an overview of what's going on behind the kiwi can be found here.

Of course there is more to it than just this, but it may be of interest to you?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #130,234
  • Aug 11, 2009 9:28pm Aug 11, 2009 9:28pm
Quoting acumen
Here's what the actual trades look like.

It's strange in hindsight.

Anyhow... that's a 108 PIPS today.

Later... lot's of crazy action before Big Ben so go watch some tv.

Mike
You missed it probably becuase your mind was unable to digest that it could break 1.4150.
The Thief of Wall Street
  • #130,235
  • Aug 11, 2009 9:37pm Aug 11, 2009 9:37pm
Quoting stevefx
Yep your right, my head is spinning-this area is too complex.
I just closed all my trades. I've been pwned this week and I admit it, down 1%.
Step back, get a better view, tap that ass later on...thanks for the advice bro..
Well sure man,

It's advice, but moreover it's just the way I tend to think, and so I was doing a little thinking out loud
just loud enough so you might hear.

You closed all trades. This is good. When I don't know what to do, I do just that:
exit all trades AND close all pending orders (don't forget that too)

5 minutes later, I may have managed to un-fu**k myself enough to re-enter trade, reverse trade, or neither.
But atleast I can not make or lose anything while flat with no pending orders.

You're doing what you are supposed to do. You are following a plan. Keep doing that.
I want you to feel good about that. Don't worry about the 1%, it will return.
I think you know this already. Stay strong, bro.
  • #130,236
  • Aug 11, 2009 9:43pm Aug 11, 2009 9:43pm
Quoting realjumper
Not sure if this will interest you or not, but an overview of what's going on behind the kiwi can be found here.

Of course there is more to it than just this, but it may be of interest to you?
baltic shipping tells the nzd and aud's story.. you can include china in the story.. there are still thousands of mt ships around tawian waters. tankers used for crude storage with no place to go all around the world.. china cant lie about the ships..
those who can, do. those who cant, talk about those who can
  • #130,237
  • Aug 11, 2009 9:48pm Aug 11, 2009 9:48pm
Okay I just tried buying a bounce off this pivot and it worked for a 5 pip scalp.
I want to say that it was the MOST UNCOMFORTABLE thing I've done all day.

I think I'll follow plan B and stand aside, looking/waiting to sell at a higher level
or
watch and see what another 14100 test produces.

I'll leave all the pips above 14160/70 to you fine fellas, you trade for them, you deserve them.

Balls. It's about Balls, boys. When you ain't feelin' that steel weight hanging heavy,
the market can eat your ass for lunch. I'm content to watch and look right now.
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  • #130,238
  • Aug 11, 2009 9:52pm Aug 11, 2009 9:52pm
Quoting toshi
Okay I just tried buying a bounce off this pivot and it worked for a 5 pip scalp.
I want to say that it was the MOST UNCOMFORTABLE thing I've done all day.

I think I'll follow plan B and stand aside, looking/waiting to sell at a higher level
or
watch and see what another 14100 test produces.

I'll leave all the pips above 14160/70 to you fine fellas, you trade for them, you deserve them.

Balls. It's about Balls, boys. When you ain't feelin' that steel weight hanging heavy,
the market can eat your ass for lunch. I'm content to watch and look...
im set up for a headfake then a move..
those who can, do. those who cant, talk about those who can
  • #130,239
  • Aug 11, 2009 9:57pm Aug 11, 2009 9:57pm
Pretty much how I see, it could follow this closing triangle through to the other side and then correct or it could bottom out in the middle. Pretty much a coin a flip as far I can tell. Better to find your levels once one of these events has passed.
  • #130,240
  • Aug 11, 2009 9:57pm Aug 11, 2009 9:57pm
kiwi broke that support i was talking about. now lets see what happens
those who can, do. those who cant, talk about those who can
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