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We all need pivots to win..yes or not? 13 replies

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The System II (Yes with irony)

  • #8,421
  • Oct 5, 2009 5:11pm Oct 5, 2009 5:11pm
Quoting Froggy10
and today we have also....

10:30...
My calendar says 11.30 for trade balance, 1hr later for all these announcements, must be daylight savings difference, no DST in TAS?
testing the market
  • #8,422
  • Oct 5, 2009 6:02pm Oct 5, 2009 6:02pm
you're right john, my calendar didn't refresh for DST, yes we used to be the first in line for DST in TASSIE, now a few states are on it at the same time.. we have very long days here it's great... cheers
  • #8,423
  • Oct 5, 2009 6:07pm Oct 5, 2009 6:07pm
my second head is not thinking right this morning...lol
  • #8,424
  • Oct 5, 2009 6:47pm Oct 5, 2009 6:47pm
Decided to test the market - 'ok market, will you persist in bouncing between these bracket limits?'. Price hit bottom bracket 4645 for the third time, and started to rise again, so entered long into the rising price. Stop is close, just below bottom bracket, so risk is small. Now we need some energy to move the price along. If it breaks below 4645, then I'll reverse to short position.
testing the market
  • #8,425
  • Oct 5, 2009 6:54pm Oct 5, 2009 6:54pm
Same here mate

Blue triangle is where order was hit and entered market.

Oanda has little symbols all over.

Yellow square is still pending short order.


Quoting John888
Decided to test the market - 'ok market, will you persist in bouncing between these bracket limits?'. Price hit bottom bracket 4645 for the third time, and started to rise again, so entered long into the rising price. Stop is close, just below bottom bracket, so risk is small. Now we need some energy to move the price along. If it breaks below 4645, then I'll reverse to short position.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.JPG Size: 107 KB
Survive and Preserve
  • #8,426
  • Oct 5, 2009 7:01pm Oct 5, 2009 7:01pm
Its pulling back now but at a nice slow speed, and as I write this its testing the HH again. watchign it to see what it does, still slow and steady, no concern right?
Survive and Preserve
  • #8,427
  • Oct 5, 2009 7:03pm Oct 5, 2009 7:03pm
Just a reminder< i am not sure how AUDusd rate news effects EU during asia but reminder, 30 mins to rate news. I am going to watch it like a hawk during that time in case it does cause funny business.

We have a new FCR formed 4656. Now to watch the top of the major bracket..

Quoting en0x
Its pulling back now but at a nice slow speed, and as I write this its testing the HH again. watchign it to see what it does, still slow and steady, no concern right?
Survive and Preserve
  • #8,428
  • Oct 5, 2009 7:06pm Oct 5, 2009 7:06pm
Eur spiking up, and Aud up out of its 90 min crappy 6 pip range, somethings pushing Usd down, but who cares, the trade's going up, see what happens around the upper bracket 4669.
testing the market
  • #8,429
  • Oct 5, 2009 7:08pm Oct 5, 2009 7:08pm
Heh, just watch this bracket. Be nice for a break out of it especially before rates news so we can be in a good position for it.

Quoting John888
Eur spiking up, and Aud up out of its 90 min crappy 6 pip range, somethings pushing Usd down, but who cares, the trade's going up, see what happens around the upper bracket 4669.
Survive and Preserve
  • #8,430
  • Oct 5, 2009 7:25pm Oct 5, 2009 7:25pm
new fcr at 4662 , stops now should be at breakeven. I think we going to see a dead time until the news in 7 mins.
My Sl is at 4657 (spread +30, if I get taken out we lose -1. Lets see how the news turns out and what effect it has on eur.

Quoting en0x
Heh, just watch this bracket. Be nice for a break out of it especially before rates news so we can be in a good position for it.
Survive and Preserve
  • #8,431
  • Oct 5, 2009 7:40pm Oct 5, 2009 7:40pm
John, are you still holding on the long? Its battling to break the top of the 4670 bracket.

Quoting en0x
new fcr at 4662 , stops now should be at breakeven. I think we going to see a dead time until the news in 7 mins.
My Sl is at 4657 (spread +30, if I get taken out we lose -1. Lets see how the news turns out and what effect it has on eur.
Survive and Preserve
  • #8,432
  • Edited 7:42pm Oct 5, 2009 7:40pm | Edited 7:42pm
Quoting en0x
new fcr at 4662 , stops now should be at breakeven. I think we going to see a dead time until the news in 7 mins.
My Sl is at 4657 (spread +30, if I get taken out we lose -1. Lets see how the news turns out and what effect it has on eur.
Hit 4658 on my screen, then jumped up again, Eur seems to be more keen to rise than fall at this point. Upper bracket still looming.

YEP still long
testing the market
  • #8,433
  • Oct 5, 2009 7:50pm Oct 5, 2009 7:50pm
Chris, I'm out now, it stalled just below upper bracket, and moving down now, so I took 4658, let's see what it wants to do next. Upper bracket is still close by, could break out yet.

cheers
testing the market
  • #8,434
  • Oct 5, 2009 7:50pm Oct 5, 2009 7:50pm
I closed this at +4 instead of waiting for SL to hit.

Quoting John888
Hit 4658 on my screen, then jumped up again, Eur seems to be more keen to rise than fall at this point. Upper bracket still looming.

YEP still long
Survive and Preserve
  • #8,435
  • Oct 5, 2009 8:04pm Oct 5, 2009 8:04pm
Chris,

Pondering the last trade, its struck me that the same logic that got me long at the bottom bracket, should have had me short at about 4664 or so, because the price went to within one pip of the top bracket at 1.05 gmt, and reversed. It would have been a plan, anyway.

Here we go, Eur thumbing it's nose at us, and going up again.
testing the market
  • #8,436
  • Oct 5, 2009 8:08pm Oct 5, 2009 8:08pm
Except I am short already at 4657, SL is above the bracket, if it holds great for me cause right now iits not looking good.

Quoting John888
Chris,

Pondering the last trade, its struck me that the same logic that got me long at the bottom bracket, should have had me short at about 4664 or so, because the price went to within one pip of the top bracket at 1.05 gmt, and reversed. It would have been a plan, anyway.

Here we go, Eur thumbing it's nose at us, and going up again.
Survive and Preserve
  • #8,437
  • Oct 5, 2009 8:15pm Oct 5, 2009 8:15pm
I went long above bracket, 3 pips over plus spread.
testing the market
  • #8,438
  • Oct 5, 2009 8:35pm Oct 5, 2009 8:35pm
Quoting John888
I went long above bracket, 3 pips over plus spread.
Trailing 20 pip stop now. I'm starving. so time for lunch.
testing the market
  • #8,439
  • Oct 5, 2009 8:55pm Oct 5, 2009 8:55pm
I know its not a 5 minute chart, but it shows Euro trading above its HH since 29 Sept.

cheers

Attached Image (click to enlarge)
Click to Enlarge Name: chart.png Size: 14 KB
testing the market
  • #8,440
  • Oct 5, 2009 9:18pm Oct 5, 2009 9:18pm
What an Asian session. 50 pips already.
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