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  • #138,661
  • Sep 3, 2009 4:52pm Sep 3, 2009 4:52pm
The daily closed with the 'shooting star' so my bias will be for shorts, but we'll need some confirmation on other timeframes to be more sure......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #138,662
  • Edited 4:59pm Sep 3, 2009 4:56pm | Edited 4:59pm
Ok heres what I'm now thinking.We are still in an angle.Tomorrow NFP ,Monday US Holiday,Currencies will make or start to make big moves on the 8th or 9th.The daily angle ends there(next week).And some reaction must occur.Probably see a crap move again tomorrow that will be within the angle since everything probably priced in and everyone knows whats going on there already.I may turn to the GBP/USD and Geppy to take advantage where the volatility will be.Your thoughts?
  • #138,663
  • Sep 3, 2009 5:33pm Sep 3, 2009 5:33pm
I can't wait for the NFP; it seriously is like christmas for forex to me.
  • #138,664
  • Sep 3, 2009 6:42pm Sep 3, 2009 6:42pm
Closed some shorts yesterday for a few pip loss, fell asleep before the massive spike. Shouldn't have talked myself out of the longs. Markets will screw with your resolve, detachment is neccessary. Up 6% for the week but not happy about the way things ended. If the retrace puts the 15 min in overbought again I'll sell it, otherwise I'm done for the week.

Next week hopefully we'll see some lows approaching 4175. I'm inclined to buy at 4200. Soon it will seem like a bargain rate.
  • #138,665
  • Sep 3, 2009 6:49pm Sep 3, 2009 6:49pm
Quoting OleMiss
I can't wait for the NFP; it seriously is like christmas for forex to me.
It's why alcoholics don't go out to drink on New Years Eve... bunch of tools vomiting all over their shoes.

That's how I feel about tomorrow.

m
  • #138,666
  • Sep 3, 2009 6:59pm Sep 3, 2009 6:59pm
If you must trade this shit then...

Wait for price to move up to the pivot point... if it does... sell it.

You have the daily pivot and the monthly sitting very close.

We trader types call that confluence.

Mike
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  • #138,667
  • Sep 3, 2009 7:06pm Sep 3, 2009 7:06pm
Several traders have asked how I scalp pivots.

I have compiled a notebook of 'nuances' for this pair.

I will updating my site someday with the how to thing.

It's not system.

Scalping is simply a niche of trading.

It takes practice, patience, risk management and lots of chart time.

The trade suggestion above is one of the nuances.

When price is trending DOWN... if price moves to the pivot point it will bounce 80% of the time. (Probably higher)

Mike
  • #138,668
  • Sep 3, 2009 7:22pm Sep 3, 2009 7:22pm
Quoting acumen
It's why alcoholics don't go out to drink on New Years Eve... bunch of tools vomiting all over their shoes.

That's how I feel about tomorrow.

m
That's a great analogy!
"The markets are the greatest chess match ever played."
  • #138,669
  • Sep 3, 2009 7:24pm Sep 3, 2009 7:24pm
Quoting acumen
It's why alcoholics don't go out to drink on New Years Eve... bunch of tools vomiting all over their shoes.

That's how I feel about tomorrow.

m

Sorry was that you *hiccup*
  • #138,670
  • Sep 3, 2009 7:31pm Sep 3, 2009 7:31pm
Tomorrow's report will be a none event. It's all baked in to the markets. It will be a quite day and monday is the labor day anyways.

All the monkeys on cnbc will make it like the super bowl kind of event for ratings.

I wish all these numbers were released quarterly not monthly.
  • #138,671
  • Sep 3, 2009 7:44pm Sep 3, 2009 7:44pm
Quoting Levent
Tomorrow's report will be a none event. It's all baked in to the markets. It will be a quite day and monday is the labor day anyways.

All the monkeys on cnbc will make it like the super bowl kind of event for ratings.

I wish all these numbers were released quarterly not monthly.

If it wasn't the NFP it would be something else. Your looking at this wrong, the NFP has nothing to do with the market. People decide what will or won't induce a buy/sell response. If the NFP were only released 4 times a year traders would start betting on the number highway projects approved (HPA). Stay away from the betting games.

Just a thought
  • #138,672
  • Sep 3, 2009 7:51pm Sep 3, 2009 7:51pm
Good morning Koalas
  • #138,673
  • Sep 3, 2009 7:58pm Sep 3, 2009 7:58pm
Quoting trading801
Good morning Koalas
Hello...hope you're watching out for the rally cars?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #138,674
  • Sep 3, 2009 8:07pm Sep 3, 2009 8:07pm
Quoting realjumper
Hello...hope you're watching out for the rally cars?
but if you don't...we could all get together and have a bbq.
  • #138,675
  • Sep 3, 2009 8:14pm Sep 3, 2009 8:14pm
Doesn't look like I missed a whole lot when I left earlier to go fishing.

I'll be spending a little time in the forum tonight, reading and catching up, seeing if I can find some gems. I'm about 100% sure that I won't be trading until Tuesday.

Take care, and I'll definitely be spending more time in this thread. Who knows maybe I'll even get around to posting some more detailed setups that I take. We'll see though.
  • #138,676
  • Sep 3, 2009 8:17pm Sep 3, 2009 8:17pm
Quoting GulfCoastPip
Doesn't look like I missed a whole lot when I left earlier to go fishing.

I'll be spending a little time in the forum tonight, reading and catching up, seeing if I can find some gems. I'm about 100% sure that I won't be trading until Tuesday.

Take care, and I'll definitely be spending more time in this thread. Who knows maybe I'll even get around to posting some more detailed setups that I take. We'll see though.
HOW WAS FISHING?
  • #138,677
  • Sep 3, 2009 8:24pm Sep 3, 2009 8:24pm
Quoting TheLastCoke
HOW WAS FISHING?
lol. Caught a few white trout (8), didn't spend much time on the water, bad weather looked like it was starting to move in.
  • #138,678
  • Sep 3, 2009 8:32pm Sep 3, 2009 8:32pm
Okay. I'll remember that.

Quoting acumen
Several traders have asked how I scalp pivots.

I have compiled a notebook of 'nuances' for this pair.

I will updating my site someday with the how to thing.

It's not system.

Scalping is simply a niche of trading.

It takes practice, patience, risk management and lots of chart time.

The trade suggestion above is one of the nuances.

When price is trending DOWN... if price moves to the pivot point it will bounce 80% of the time. (Probably higher)

Mike
  • #138,679
  • Sep 3, 2009 8:38pm Sep 3, 2009 8:38pm
I think we test 1.4190 prior to NFP
"Diversification is an excuse for a lack of talent" ~FXC
  • #138,680
  • Sep 3, 2009 8:41pm Sep 3, 2009 8:41pm
I need a few pips. Up 2.2% on the day and I might do a little better. I caught 5 on the little breakout south. Now I might check for some scalpable PA, a sideways oscillating range with a +10 pip spread is all I need. About this time of the week I am starting to get tired of looking at this shit, though, so I'm not gonna cry if it doesn't come. Last two nights in a row I have bagged good numbers on reversals at the FO/LO - I will check that tobesure. Then tomorrow the big news (woo) - I like to sleep through & maybe throw on a small bet for fun. Good luck traders.
"If The Fool persists in his Folly he will become wise." - William Blake
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