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  • #164,441
  • Nov 23, 2009 5:16am Nov 23, 2009 5:16am
I am long audusd at .9235 with an s/l at .919.
  • #164,442
  • Nov 23, 2009 5:20am Nov 23, 2009 5:20am
Quoting e_piz
close at 1.4970 with 30pips, seems the market is trying hard to go north but there seems something is holding it. will wait for another 4H candle to emerge before making decision
I'm not a fundamental trader but LFB had a report which basically said eu is overbought by and we may see flows back into treasuries and by default -dollars so there may be some bear moves coming. This is only if Nikkei breaks support.

If I can find the link I will post it.
  • #164,443
  • Nov 23, 2009 5:22am Nov 23, 2009 5:22am
Quoting Bemac
Advice on this Trade may be easier if you explaine Why & TF (TF=Time Frame of the chart you Traded.)
{You are talking Demo, Right?}
Thanks Bemac for question.
It hit my SL at 1.4920 so..it was a minus.
Actually it is a real account, but I'm trading low volumes.
To answer your question, I was hoping for a comeback, and a profit of 10 pips max,but...
  • #164,444
  • Nov 23, 2009 5:24am Nov 23, 2009 5:24am
Quoting tonyo524
That is quite a while isn't it?
yeap!there goes my candle.guess i've 2wait after trichet the cricket speaks....
  • #164,445
  • Nov 23, 2009 5:28am Nov 23, 2009 5:28am


At the moment if it goes down, it is a profit booking and new short positions being created. Once it falls 100-120 pips, short positions will be covered and new long positions will start to build.

The party is not over but cracks are visible.

  • #164,446
  • Nov 23, 2009 5:30am Nov 23, 2009 5:30am
Quoting T.E.Lawrence
After 1H upper trendline had been broken I entered long. Maybe too soon. I don't like this steep ascent and how last hourly candle closed, so I'm ready to bail out when PA comes back into trend.

to early i think that to it was great exit for some1 ...... its still below weakly R1 & 000 lvl is strong psyhic, i am going short maybe long in midle of week think it will consolidate abit, anyway i dont like to speculate. play the game have nice rr & you cant lose ...happy trading all
  • #164,447
  • Nov 23, 2009 5:36am Nov 23, 2009 5:36am
noob question:

what happens if home sales beats expectations? it will go north or south?
or better said: how it should logically go?
  • #164,448
  • Nov 23, 2009 5:44am Nov 23, 2009 5:44am
Quoting TripeiroFX
I Believe that we gonna get 1,5150 more soon than almoust people can think, but i'm thinking too that we need first a correction.
I agree with your view and now i have hedge my shorts.i think Euo needs consolidation atleast till 1.4907 before it moves up again...Euro seems in strong bull move for more couple of days
  • #164,449
  • Nov 23, 2009 5:52am Nov 23, 2009 5:52am
I suspect the dollar will stay here in medium term, it is oversold, that doesn't mean it cannot go lower, everyone is so bearish i suspect us will have to sooner offer higher interest rates with the amount of debt they are selling.
  • #164,450
  • Nov 23, 2009 5:54am Nov 23, 2009 5:54am
Quoting meje
yeap!there goes my candle.guess i've 2wait after trichet the cricket speaks....
Looks like you may get your wish!
But becareful s&p and dow futures along with oil are still holding steady.
All that is left in FF is just plain garbage. "Cloggie"
  • #164,451
  • Nov 23, 2009 6:02am Nov 23, 2009 6:02am
Quoting cloggie
at 4830 I got out of my short from Friday, nice hedge over the weekend and loaded up more on the long side. 4830 is a good price for the continued bull run.

I still got my bull hat on, weekly and monthly has not given me an indication yet for a trend reversal.

Well that was a nice little run from 4830, closing my short term longs and awaiting a new entry on the retrace.
  • #164,452
  • Nov 23, 2009 6:03am Nov 23, 2009 6:03am
Quoting tonyo524
Looks like you may get your wish!
very risky bro.trichet in an hour...may eat up 50 pips SL
  • #164,453
  • Nov 23, 2009 6:09am Nov 23, 2009 6:09am
Quoting cloggie
Well that was a nice little run from 4830, closing my short term longs and awaiting a new entry on the retrace.
what u think what can be possible price for re entry?
  • #164,454
  • Nov 23, 2009 6:09am Nov 23, 2009 6:09am
Quoting meje
very risky bro.trichet in an hour...may eat up 50 pips SL
That wasn't my trade, I was responding to someone from earlier. I'm still holding longs.
All that is left in FF is just plain garbage. "Cloggie"
  • #164,455
  • Nov 23, 2009 6:13am Nov 23, 2009 6:13am
Firstly the EU has been in a strong uptrend since March 3rd, and it is a good idea to go with the Trend.


Open up a Daily chart and notice a H/H bar Oct 22nd, the low of which is 1.4944. On Oct 27th a bar closed at 1.4811. The High of this bar is 1.4927. Because 1.4927 had left the Low of Oct 22nd bar,(Tops and Bottoms of bars,play a large part in Pure Price Action) this was a sign that price could fall further, which indeed it did, it went down as far as the low Nov 3rd's bar, which was 1.4627.


Today, Price has now worked it's way back up to the top of Oct 27th's bar, and I am going to take a long from one of the lower time frames on a move away from 1.4927. I took this long entry off the 5 min chart at 1.4938.


I hope some or all of this makes sense to you, spend time watching what one bar does inside another both on the higher (Daily) and lower time frames, paying particular attention to the tops and bottoms of bars.


And remember all stategies work some of the time, but not all of the time.


As you can see, I have already taken profits on the way up, and have only got one quarter of my original position left on. I am now looking for a break above the top of Oct 22nd's bar (1.5060).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Top Down Method Daily.png Size: 190 KB
Click to Enlarge Name: 5 min entry explanation.PNG Size: 177 KB
Good Trading. (keep it simple).
  • #164,456
  • Nov 23, 2009 6:13am Nov 23, 2009 6:13am
Quoting T.E.Lawrence
After 1H upper trendline had been broken I entered long. Maybe too soon. I don't like this steep ascent and how last hourly candle closed, so I'm ready to bail out when PA comes back into trend.
I've closed this position with loss of -11 pips.
  • #164,457
  • Nov 23, 2009 6:17am Nov 23, 2009 6:17am
Quoting tonyo524

That wasn't my trade, I was responding to someone from earlier. I'm still holding longs.
huhuhu..

anyway, i closed my long 4hours ago at 1.4970
  • #164,458
  • Nov 23, 2009 6:20am Nov 23, 2009 6:20am
Quoting Jasper
Firstly the EU has been in a strong uptrend since March 3rd, and it is a good idea to go with the Trend.


[font=Trebuchet MS, sans-serif]Open up a Daily chart and notice a H/H bar Oct 22nd, the low of which is 1.4944. On Oct 27th a bar closed at 1.4811. The High of this bar is 1.4927. Because 1.4927 had left the Low of Oct 22nd bar,(Tops and Bottoms of bars,play a large part in Pure Price Action) this was a sign that price could fall further, which indeed it did, it went down as far as the low...
thanks so much for taking the time to explain that to me much appreciated

cheers
NOTHING VENTURED, NOTHING GAINED
  • #164,459
  • Nov 23, 2009 6:24am Nov 23, 2009 6:24am
Placed short limit at 1.50400.............
  • #164,460
  • Nov 23, 2009 6:26am Nov 23, 2009 6:26am
Quoting T.E.Lawrence
I've closed this position with loss of -11 pips.

You win some, you loose some.

I can only go long on dips to 1.4790-1.4830 or on a firm close above 2009 highs

I have started accumulating small shorts anticipating a top side failure between here and 1.51 which would take us to 1.45 , but i guess it does not matter wether i am wrong or right, the important thing is how much one is willing to put on the line to find out..
Some drink at the fountain of knowledge. Others just gargle !
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