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  • #162,561
  • Nov 17, 2009 12:55pm Nov 17, 2009 12:55pm
Can anyone confirm what I believe is a bullish breakout of a pennant on the H1? ie: Trend line down for the 8 or 9 bearish bars, then the last 3 bullish bars trend up form pennant which has been broken. I dont use patterns much.. though I do have the use of autochartist.
  • #162,562
  • Nov 17, 2009 12:57pm Nov 17, 2009 12:57pm
Quoting No Stress
My charts said to me that no retrace before 1.5010/20 area. We'll see.
closing short .... more than 100 pips...
  • #162,563
  • Nov 17, 2009 12:57pm Nov 17, 2009 12:57pm
Quoting avi
read post 6598 by notch your frend and his predict for eur on tsd yesterday 4814
can you quote it.. it will be easier
those who can, do. those who cant, talk about those who can
  • #162,564
  • Edited 1:00pm Nov 17, 2009 12:59pm | Edited 1:00pm
I sold 1.4861 on the basis that it looked like it just had to go up from there.

stop at B/E.
  • #162,565
  • Nov 17, 2009 1:06pm Nov 17, 2009 1:06pm
Sell limit evrvsd 4879 sl 4898 tp 4835
  • #162,566
  • Nov 17, 2009 1:11pm Nov 17, 2009 1:11pm
AutoChartist Alert - Forecast is 14900 to 14950.
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  • #162,567
  • Nov 17, 2009 1:14pm Nov 17, 2009 1:14pm
[quote=SerpentDove;3239863]I sold 1.4861 on the basis that it looked like it just had to go up from there.
stop at B/E.[/QUOTE
You mean you bought? Euro is very weak and range bound , it probably counter trend on the 4hour charts for the next two weeks. It isn't following the Dow as strongly during the Dow surge a few days ago. We thus implement a counter trend trading strategy.
  • #162,568
  • Nov 17, 2009 1:17pm Nov 17, 2009 1:17pm
[quote=StephanusR;3239878]
Quoting SerpentDove
I sold 1.4861 on the basis that it looked like it just had to go up from there.
stop at B/E.[/QUOTE
You mean you bought?
No, no, I mean I sold it. BECAUSE it looked like it was going to go up.
  • #162,569
  • Nov 17, 2009 1:19pm Nov 17, 2009 1:19pm
[quote=SerpentDove;3239884]
Quoting StephanusR

No, no, I mean I sold it. BECAUSE it looked like it was going to go up.
Ahhh yes, the old counter-intuition strategy. I should have used that last night haha
  • #162,570
  • Nov 17, 2009 1:27pm Nov 17, 2009 1:27pm
Any break and hold of this line could spell trouble for bulls. Weekley close below that and we got some issues
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  • #162,571
  • Nov 17, 2009 1:29pm Nov 17, 2009 1:29pm
[quote=Protogenos;3239887]
Quoting SerpentDove

Ahhh yes, the old counter-intuition strategy. I should have used that last night haha
New for me actually, but I didn't want to wear out the log-on go short technique that has been serving me so well this week.

It's at b/e and I took my score for the day already so why not.
  • #162,572
  • Nov 17, 2009 1:33pm Nov 17, 2009 1:33pm
If im reading this right, it would seem that were comming to a cusp, these next few days should decided if we continue bullish or reverse bearish.
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  • #162,573
  • Nov 17, 2009 1:44pm Nov 17, 2009 1:44pm
Hmmm...gold up, oil up, stock markets flat, risk reversals showing long...Think I'm gonna keep my long open for now...

Edit: Oh, and I forgot to mention the "rumors" of a huge china DNT at 1.4800
  • #162,574
  • Nov 17, 2009 1:53pm Nov 17, 2009 1:53pm
But the trade was closed BE at 1.4846, this was the calls that have some risk and we need some SL to protect the trade.

My limit was 1.4866 and was the number we saw. I explain in my blog my last calls, I am in at the moment short at 1.4858, tight SL, I have exact numbers to follow in this trade, we have a sentence here in Portugal "Ou sim ou sopas"

GL ALL
  • #162,575
  • Edited 2:05pm Nov 17, 2009 1:54pm | Edited 2:05pm
I just moved my stop loss for a bit and doubled up. I wonder........


Both entries at B/E +1]

there goes that.
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  • #162,576
  • Nov 17, 2009 1:54pm Nov 17, 2009 1:54pm
Quoting Protogenos
Hmmm...gold up, oil up, stock markets flat, risk reversals showing long...Think I'm gonna keep my long open for now...

Edit: Oh, and I forgot to mention the "rumors" of a huge china DNT at 1.4800
what's china dnt ? Btw, I'm short @ 4850
  • #162,577
  • Nov 17, 2009 2:00pm Nov 17, 2009 2:00pm
Quoting Exsilium
Need some help figuring out to use Level 2 quotes.

I have attached a screenshot of what I see.

For instance,

Best Bid is at 1.48450 with a volume of 4, while the best Ask is at 1.48460 with a volume of 15.2.

The worst Bid is at 1.48430 with a volume of 42.5 (highest volume quoted for bids), while the worst Ask is at 1.48480 with a volume of 16.5 (best volume for Ask is at 1.48475 @ 44.7).

How do i use this info?

there was a FF thread started on this topic about two years ago with only 2 responses. I think the greedy keep to themselves about "how to" read the tape and most others are like pull your self up by ya bootstraps. i figured it out so can you. what you spose?

my questions is what would be the point of using Level 2 if you going through an ECN? I don think u can view MM or whos buying on ECN. Am I correct?
  • #162,578
  • Nov 17, 2009 2:07pm Nov 17, 2009 2:07pm
Quoting Exsilium
Need some help figuring out to use Level 2 quotes.

I have attached a screenshot of what I see.

For instance,

Best Bid is at 1.48450 with a volume of 4, while the best Ask is at 1.48460 with a volume of 15.2.

The worst Bid is at 1.48430 with a volume of 42.5 (highest volume quoted for bids), while the worst Ask is at 1.48480 with a volume of 16.5 (best volume for Ask is at 1.48475 @ 44.7).

How do i use this info?
Can you tell me which broker is that?

Analyzing volumes is very complex and hard to explain, I have used Dukascopy in past and what I usually did was see the total bid and ask volumes.. if the difference between them was significant than it meant someone is buying large / selling large and would take position accordingly..

But in your snapshot the difference in volume between total bid and ask is not that high to warrant a trade... but just for the sake of explaining, if you look closely their are more sellers than buyers, so I would have taken Euro sell position.
  • #162,579
  • Nov 17, 2009 2:14pm Nov 17, 2009 2:14pm
Quoting T.E.Lawrence
what's china dnt ? Btw, I'm short @ 4850
It's a double no touch option. The rumor is that China has huge DNTs at 4800 and 5100, therefore they would intervene to keep the euro from reaching either of those levels until the options expire. Now if I only knew if it were true and when they expired lol
  • #162,580
  • Nov 17, 2009 2:17pm Nov 17, 2009 2:17pm
Quoting T.E.Lawrence
what's china dnt ? Btw, I'm short @ 4850
Also short @ 1.4850!

Its been so well behaved all day, doing just as it was told - but now its going the wrong way!

Set SL going to the pub!

GL all.........
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