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  • #140,401
  • Sep 8, 2009 2:04pm Sep 8, 2009 2:04pm
fisherman what TP you aiming for on EJ?
  • #140,402
  • Sep 8, 2009 2:08pm Sep 8, 2009 2:08pm
Quoting unBEARable
fisherman what TP you aiming for on EJ?
Dunno. I'm aiming a SL of 55 I don't trade this pair but the pattern is way too tempting. Whatever the market gives. I reckon 100 pips profit would be decent but depends how I wake up tomorrow morning. I'm not in the trade yet. Waiting to jump in and then bed time...
  • #140,403
  • Sep 8, 2009 2:13pm Sep 8, 2009 2:13pm
Quoting TheFisherman
Dunno. I'm aiming a SL of 55 I don't trade this pair but the pattern is way too tempting. Whatever the market gives. I reckon 100 pips profit would be decent but depends how I wake up tomorrow morning. I'm not in the trade yet. Waiting to jump in and then bed time...
what pattern is that?
  • #140,404
  • Sep 8, 2009 2:18pm Sep 8, 2009 2:18pm
Quoting ledobedo
what pattern is that?
If I told you, I'd have to kill you. (waiting for a long time for that punch line)

Seriously. It's called the pattern of market putting pressure on some level. Rarely seen in EU though. Also checking daily and weekly chart it looks like there is some pressure on the upside. Who's keeping it at bay, I dunno and I don't care. The reward can be huge. So for 55 pips I'll buy it.
  • #140,405
  • Sep 8, 2009 2:22pm Sep 8, 2009 2:22pm
untill the end of tommorow 9/9 dolar is going back to 1.4300 -
there is no support in 1.4500
great day today for trand day - what do you think ?
  • #140,406
  • Sep 8, 2009 2:22pm Sep 8, 2009 2:22pm
Seriously guys, I don't know if I'm allowed to and I hope I don't get my arse kicked for telling you but do attend all the webinars at fxstreet. There are some pretty good guys there (and also some pretty not good) but it's a must do. There is a guy who's name I forgot that has a webinar about break-out trading. He was a dealer for cfd's for many years and he explains very good S/R levels and market behaviour around it.
If you see the pattern in EJ right now, it means there is a good supply at the upper level but alas the supply source is only one and sooner or later, the supply will end. Where will it go? Nobody knows. But if there's not much supply above you could be in for a treat.

[EDIT] Sam Seiden I believe is the guy's name.
  • #140,407
  • Sep 8, 2009 2:23pm Sep 8, 2009 2:23pm
For those who care to seek, you shall find, it may be the treasure you overlooked or never cared to find.
No questions answered.
Don't try too hard.
See you guys manana.
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  • #140,408
  • Sep 8, 2009 2:29pm Sep 8, 2009 2:29pm
Quoting TheFisherman
If I told you, I'd have to kill you. (waiting for a long time for that punch line)

Seriously. It's called the pattern of market putting pressure on some level. Rarely seen in EU though. Also checking daily and weekly chart it looks like there is some pressure on the upside. Who's keeping it at bay, I dunno and I don't care. The reward can be huge. So for 55 pips I'll buy it.
man i seen the dojis etc touching the r1 line..i just though u have some special name for it:0
  • #140,409
  • Sep 8, 2009 2:31pm Sep 8, 2009 2:31pm
Quoting ledobedo
man i seen the dojis etc touching the r1 line..i just though u have some special name for it:0
I don't care too much about pattern names. I DO care about understanding why a pattern forms as regards to market participant's actions.
  • #140,410
  • Sep 8, 2009 2:35pm Sep 8, 2009 2:35pm
Quoting TheFisherman
If you're a bond buyer you're in the conservative team. You DO NOT take chances. So what do you do to protect your yield from USD devaluation? You short the USD of course! Get it?

so can we expect similar effect in the upcoming days?
  • #140,411
  • Sep 8, 2009 2:40pm Sep 8, 2009 2:40pm
Quoting ledobedo
so can we expect similar effect in the upcoming days?
Depends on how the auction goes but me thinks if there will be the same it will be a much diluted effect than today b/c the 3 yr bonds are the shortest term. In bond world it's called scalping. If you buy a 5 yr or 10 yr your strategy and fundamentals are different and don't require the protection cause think about it. If you believe in US being strong in 10 years fro now you should expect that sooner or later during the 10 years you wait for the bond to mature the US$ will eventually be stronger than today. That's when you sell it More dough, more Ferrari!
  • #140,412
  • Sep 8, 2009 3:07pm Sep 8, 2009 3:07pm
Quoting TheFisherman
Depends on how the auction goes but me thinks if there will be the same it will be a much diluted effect than today b/c the 3 yr bonds are the shortest term. In bond world it's called scalping. If you buy a 5 yr or 10 yr your strategy and fundamentals are different and don't require the protection cause think about it.
so is the protection at least partly responsible for the spike today?so bond buyes go against the USD to protect, or am i just too confused herre:0
  • #140,413
  • Sep 8, 2009 3:10pm Sep 8, 2009 3:10pm
Quoting ledobedo
so is the protection at least partly responsible for the spike today?so bond buyes go against the USD to protect, or am i just too confused herre:0
I think so. Last bond auction was the same. I know, some will say why go against the currency of the country you just bought bonds from? Doesn't make sense right? I say: why take the chance. Yield is pretty good. Why be greedy?

Kinda silence around here. I'm still waiting for EJ to say something and I'd appreciate some talk.
  • #140,414
  • Sep 8, 2009 3:10pm Sep 8, 2009 3:10pm
That took me a few hours to read all the posts today
Some were more interesting than others

Thanks for all the info all of you, now it's up to me to put the filter on it

PS: That uptrend was not the trend I had in mind for the coming days/weeks
Close your eyes when you feel you are going under.
  • #140,415
  • Sep 8, 2009 3:18pm Sep 8, 2009 3:18pm
Quoting TheFisherman
I think so. Last bond auction was the same. I know, some will say why go against the currency of the country you just bought bonds from? Doesn't make sense right? I say: why take the chance. Yield is pretty good. Why be greedy?

Kinda silence around here. I'm still waiting for EJ to say something and I'd appreciate some talk.
ya goes against logic..at least my logic anyways:0i guess some things i just dun get but i m still young ...i looked at your ej sold it at r1, few pips scalped..u still w8ing for it to break?
  • #140,416
  • Sep 8, 2009 3:20pm Sep 8, 2009 3:20pm
Quoting ledobedo
ya goes against logic..at least my logic anyways:0i guess some things i just dun get but i m still young ...i looked at your ej sold it at r1, few pips scalped..u still w8ing for it to break?
Yep. Goddarn thing is just stuck there. But that's good. The longer it takes the harder it breaks. I'm only taking the upside. A break below it's a no trade for me. Need to go to bed soon and can't baby sit it through the night, too risky.

[EDIT] A break below means a new player is in town and more uncertainty is added. I thought you got my post about supply...
  • #140,417
  • Sep 8, 2009 3:21pm Sep 8, 2009 3:21pm
Quoting TheFisherman
Yep. Goddarn thing is just stuck there. But that's good. The longer it takes the harder it breaks. I'm only taking the upside. A break below it's a no trade for me. Need to go to bed soon and can't baby sit it through the night, too risky.
why dun you just put an order on it?i m still stuck with my short on eu
  • #140,418
  • Sep 8, 2009 3:25pm Sep 8, 2009 3:25pm
Quoting ledobedo
why dun you just put an order on it?i m still stuck with my short on eu
I have an order on it but if it breaks below I have to cancel it.

What's your position average and size compared to account on your EU trade? I mean how many % of your account you are on red?
  • #140,419
  • Sep 8, 2009 3:31pm Sep 8, 2009 3:31pm
Quoting TheFisherman
I have an order on it but if it breaks below I have to cancel it.

What's your position average and size compared to account on your EU trade? I mean how many % of your account you are on red?
position for 20% of my acc with 35 pip stoploss makes it bout 8% more less...very bad mm i know...but with my 100 usd super mini account i m here to learn
  • #140,420
  • Sep 8, 2009 3:33pm Sep 8, 2009 3:33pm
i think we will return 1.4438
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