EURUSD | Page 6798 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #135,941
  • Aug 27, 2009 4:13pm Aug 27, 2009 4:13pm
Quoting vinesh2
Wow amazing move 200 pips within 2 hours. This was a classic low volume move. We are goign to see a lot of this for a long time in FX business. Ppl are staying away and volume is light so big boys have to do something to induce traders
Vinesh, look again. It was a beautiful setup with a very high volume move as all stops were triggered, but real buying. I was fortunate to have an order to add to my long at the beginning of that breakout. And look at the lack of real selling on the decline.
  • #135,942
  • Aug 27, 2009 4:14pm Aug 27, 2009 4:14pm
Quoting learntowin
Thank you again for your kind hearted thought

But still have one wonder

Will it be possible when BIG DOGS pushed it Up 200 pips

then right away drive it Down 200 pips or more

What s for ? and How can ?


That s why i still keep my Long

TKS
I do believe that everything is possible in the market, see I´m not saying that going long is a bad choice it depends on how much are you risking, by the way you are writing it makes me believe that you are running behind your loses taking too much risk in order to recover that money...well THAT`S a BAD idea...

In my opinion price could retrace a bit, this scenario makes more sense to me...A very good trader told me once to buy on retraces, to do so you should wait till it happens In MY opinion you should have wait for price to retrace and then have bought...but remember I could be wrong so that´s why you should develop your own system instead following other persons calls.

.......

how much are you risking?

what´s your SL?
what about a TP?
  • #135,943
  • Aug 27, 2009 4:19pm Aug 27, 2009 4:19pm
Quoting Msattar
normal rebound...

Still stick with my short...we will see break below .4200 today..
Slap yourself! n00b
ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
  • #135,944
  • Aug 27, 2009 4:21pm Aug 27, 2009 4:21pm
Quoting Rednose
I do believe that everything is possible in the market, see I´m not saying that going long is a bad choice it depends on how much are you risking, by the way you are writing it makes me believe that you are running behind your loses taking too much risk in order to recover that money...well THAT`S a BAD idea...

In my opinion price could retrace a bit, this scenario makes more sense to me...A very good trader told me once to buy on retraces, to do so you should wait till it happens In MY opinion you should have wait for price to retrace and...
Well said ... and just to add/emphasize ... don't chase your losses. I've made that mistake and learned from it. You lost, accept it. Step away from the computer, relax and reflect. What did you do wrong? Did you missread the signs, did you mismanage your funds ... make corrections and move on. There will be another trade, another setup tomorrow or next week. Chasing mindlessly after your losses will just lead to more losses.
  • #135,945
  • Aug 27, 2009 4:24pm Aug 27, 2009 4:24pm
Quoting discohero
Well said ... and just to add/emphasize ... don't chase your losses. I've made that mistake and learned from it. You lost, accept it. Step away from the computer, relax and reflect. What did you do wrong? Did you missread the signs, did you mismanage your funds ... make corrections and move on. There will be another trade, another setup tomorrow or next week. Chasing hot heatedly after your losses will just lead to more losses.
Save your energy. It's useless. Everybody has to go through this by its own to learn something durable. Some will do, some will lose and never come back. It's the way things work. However, this guy may be in luck today. He will keep his long and the PA will probably go higher. He will not get burned. Not today. But soon enough he will either learn or quit.
  • #135,946
  • Aug 27, 2009 4:28pm Aug 27, 2009 4:28pm
wow, nice move, we need some action cos ATR has fallen to ~130
I need volatility to make money
  • #135,947
  • Aug 27, 2009 4:30pm Aug 27, 2009 4:30pm
Quoting NoStops
wow, nice move, we need some action cos ATR has fallen to ~130
I need volatility to make money
right. your broker also needs volatility to take your money
  • #135,948
  • Aug 27, 2009 4:36pm Aug 27, 2009 4:36pm
I am looking bro that move we had did not follow through and did not break resistance levels. I mentioned last week that week and month ending moves are going to be volatile and going to whip traders out of their position and that;s exactly what happened today. I looked at the 8 hr chart and during the large move my RSI remained flat means that it was a low volume move and this move was unable to break the previous high in the beginning of the month. If we close out the month below 1.43 we are going to have a lower high which spells trouble. As I also mentioned earlier that we need to close this week above 1.433 if we manage to do it then we are going to be at 1.47
  • #135,949
  • Aug 27, 2009 4:37pm Aug 27, 2009 4:37pm
I wonder if the 1.47's that people have been bashing on about for a couple of weeks are on the cards? .... It's just a rhetorical question because with the PA of late I can only trade what I see, rather than plan a longer term setup. Either way is fine with me, but I was very skeptical that 1.47 would happen to top off this PA, but now I am more warm to the idea!

Interesting times....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #135,950
  • Aug 27, 2009 4:47pm Aug 27, 2009 4:47pm
Quoting vinesh2
I looked at the 8 hr chart and during the large move my RSI remained flat means that it was a low volume move and this move was unable to break the previous high in the beginning of the month
All due respect but I have to correct you on this one. RSI has nothing to do with volumes. Apologize to noobs here or I'll start calling you names

While it's true that the Dow gain was on thin volume (thinnest this year some say, although I didn't bother to check) - Dow it's a reaction to what happened here. Don't confuse things dude or you'll start paying your broker's Ferrari's.
  • #135,951
  • Aug 27, 2009 4:50pm Aug 27, 2009 4:50pm
Quoting TheFisherman
right. your broker also needs volatility to take your money
maybe it would be true if I were overleveraged....
  • #135,952
  • Aug 27, 2009 4:53pm Aug 27, 2009 4:53pm
Quoting NoStops
maybe it would be true if I were overleveraged....
True. I also saw your nick and understood. You're using probably the no-stop theory. Good luck with that.
  • #135,953
  • Aug 27, 2009 4:54pm Aug 27, 2009 4:54pm
Fisher and other's I did't mean to correlate Volume indicator with RSI. I was not talking about VOLUME in terms of volume indicator. I am talking about volume as in terms of strength of the move. Move happened in a relatively quiet market with no real reason and the spike was quickly retraced. Lets all see how we close the week out. Next week is going to be a telling week
  • #135,954
  • Aug 27, 2009 4:54pm Aug 27, 2009 4:54pm
Maybe time for a new long? Fool you with me? I see Atlast and Gator are out...
  • #135,955
  • Aug 27, 2009 4:59pm Aug 27, 2009 4:59pm
I started stepping in at 4355. Now I have 4 small pos. avg. 4350 = 1 normal size position for me. Longers. We'll be testing the top of the range by tonight.
  • #135,956
  • Aug 27, 2009 4:59pm Aug 27, 2009 4:59pm
Quoting vinesh2
Fisher and other's I did't mean to correlate Volume indicator with RSI. I was not talking about VOLUME in terms of volume indicator. I am talking about volume as in terms of strength of the move. Move happened in a relatively quiet market with no real reason and the spike was quickly retraced. Lets all see how we close the week out. Next week is going to be a telling week
Good. Due to the way the FX market is set-up the volume can not be known. RSI has nothing to do with volume - it's only PA. The move was strong all right. It's not retraced yet. Full retrace it's all the way down to previous band high. Still missing some 50p. While the move was on no obvious reasons it was expected. I did expect it anyway. And some of the people I value here like Atlast and Gator also expected a bullish move. Don't know if they expected it to be so strong though...
  • #135,957
  • Aug 27, 2009 5:01pm Aug 27, 2009 5:01pm
makes no sense, RSI formula is 100-100/1+x, where x is the average of up moves/down moves.

So if it flat is just means that the x is almost equal to 1 (means previous bars have had small ranges)



Quoting vinesh2
Fisher and other's I did't mean to correlate Volume indicator with RSI. I was not talking about VOLUME in terms of volume indicator. I am talking about volume as in terms of strength of the move. Move happened in a relatively quiet market with no real reason and the spike was quickly retraced. Lets all see how we close the week out. Next week is going to be a telling week
Its all in the mind.
  • #135,958
  • Aug 27, 2009 5:04pm Aug 27, 2009 5:04pm
Quoting stevefx
I started stepping in at 4355. Now I have 4 small pos. avg. 4350 = 1 normal size position for me. Longers. We'll be testing the top of the range by tonight.
I jumped in again at 4350. Looks like she'll be heading north for a bit.
  • #135,959
  • Aug 27, 2009 5:09pm Aug 27, 2009 5:09pm
Quoting TheFisherman
True. I also saw your nick and understood. You're using probably the no-stop theory. Good luck with that.
I use stops, but veeeery large ones
  • #135,960
  • Aug 27, 2009 5:09pm Aug 27, 2009 5:09pm
Quoting TheFisherman
Maybe time for a new long? Fool you with me? I see Atlast and Gator are out...
Hey Fish,

I would lean long today but I'm sitting out. I have been watching these Big Dog (BD) spikes all month and I got burned by some, caught some fat pippage on others. Really, though, I would rather just stay out of BD's way and do some scalping in "normal" pa...

I have been trying to swing trade more lately because I have been really busy with dayjob stuff. Have had some good scalping pa in first 1-2 hours of the Tokyo session lately, and I might hit that at 1700PDT. I'm up about 9% on the week so I'm not feeling too chancy.

For sure I will be tuned in at the LO. I won't be surprised to see another spike off this bullflag. I still think this is a classic Pump&Dump in progress & I'm way too dumb to be a betting man, but if I had to to save my life I'd say we will be back <1.40 after Labor Day.

Good Luck & Have Fun!
"If The Fool persists in his Folly he will become wise." - William Blake
2,054 traders viewing now