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  • #173,121
  • Dec 16, 2009 9:56pm Dec 16, 2009 9:56pm
when you look at the monthly chart it is easy to see that dollar gains very fast , even one year trend can be overturnered for a few months , right now it happens , those who are stuck in longs will lose .

happy trading to all
  • #173,122
  • Dec 16, 2009 9:56pm Dec 16, 2009 9:56pm
How can u guys spot reversals? Can anyone show me a picture and maybe a short explanation of one of ur sucsessfull reversal buys. Either up or down reversal.

Preferably on the EURUSD pair.
  • #173,123
  • Dec 16, 2009 9:56pm Dec 16, 2009 9:56pm
Quoting tonyo524
Looking at that monthly it's scary. All trades closed. Huge pips on 12 of them 340 pip loss on one, 300 pip gain on the same one with hedge. Flat at the moment. May re enter the market on freaky Friday to see what that gives me. Was a good ride overall, now it's time to celebrate the holidays!http://cdn.forexfactory.com/images/icons/icon6.gif

yes indeed very scary, i got my Sl hit down 12% of account
  • #173,124
  • Dec 16, 2009 10:01pm Dec 16, 2009 10:01pm
Long again @ 1.43915 looking for some kind of decent retracement after so many days to at least 1.45! When I see a reasonable retrace I'll go short for the longterm. bleh.
  • #173,125
  • Dec 16, 2009 10:02pm Dec 16, 2009 10:02pm
Why did japanese go below 1.45 ?

EASY it WOULD GO THERE TOMORROW , JAPANESE just wantd to make some money , .

It was a great match anyway
  • #173,126
  • Dec 16, 2009 10:04pm Dec 16, 2009 10:04pm
Quoting alvelino
How can u guys spot reversals? Can anyone show me a picture and maybe a short explanation of one of ur sucsessfull reversal buys. Either up or down reversal.

Preferably on the EURUSD pair.
I mainly use horizontal support and resistance, and retracements are likely at these levels. A reversal is just the culmination of the breaking of these levels. I don't try to predict and buy/sell reversals, because I tend to trade slower timeframes than most here - I would usually scaling out at a reversal, rather than immediately reversing the position.
  • #173,127
  • Dec 16, 2009 10:12pm Dec 16, 2009 10:12pm
wow its going down a by a lot from last time I checked...
  • #173,128
  • Dec 16, 2009 10:13pm Dec 16, 2009 10:13pm
Quoting alvelino
How can u guys spot reversals? Can anyone show me a picture and maybe a short explanation of one of ur sucsessfull reversal buys. Either up or down reversal.

Preferably on the EURUSD pair.
Bullish divergence & previous candle close & weekly supp/res zone suggest higher probability of reversal. Time will tell.
Good luck.
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Thank You
  • #173,129
  • Dec 16, 2009 10:19pm Dec 16, 2009 10:19pm
Quoting alvelino
How can u guys spot reversals? Can anyone show me a picture and maybe a short explanation of one of ur sucsessfull reversal buys. Either up or down reversal.

Preferably on the EURUSD pair.
Right now I am not buying anything in E/U. But just for illustrative purposes, I have attached a 5m chart below with trendline supports/resistances. I have circled the potential opportunities for buying.

#1- trade would have started negative, but doesn't appear enough to hit my SL. Eventually went positive but then back ultimately negative. Maybe I would have closed after the long stall for small gain, but I most likely would have let it ride and lost (again under normal circumstances, right now no buys).

#2- Had I not gotten in at #1, then I may have when the price crossed back up above the support. After the long stall this would have been a loser also. This is example why I don't open two trades in same direction simultaneously.

#3- With expectations of a possible bounce I would have bought and ultimately lost this one.

#4- Winner

#5- Loser, but riskier since it was being retested from 4. I probably would not have bought here since it was a recent retest. Only way is if I missed #4 and felt like gambling.

#6- Winner

As you can see there are more buy losses than wins due to severe downtrend. Don't recommend fighting the trend. Selling below resistances is better choice.
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  • #173,130
  • Dec 16, 2009 10:21pm Dec 16, 2009 10:21pm
Long
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  • #173,131
  • Dec 16, 2009 10:23pm Dec 16, 2009 10:23pm
for those asking for s/r levels.. you cant c it but 4182 is there, is an important one.
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those who can, do. those who cant, talk about those who can
  • #173,132
  • Dec 16, 2009 10:26pm Dec 16, 2009 10:26pm
Quoting alvelino
How can u guys spot reversals? Can anyone show me a picture and maybe a short explanation of one of ur sucsessfull reversal buys. Either up or down reversal.

Preferably on the EURUSD pair.
HI Alveino

Ur ques.. is what all trader who want to know but it's not coming soon when U trade, It's coming slowly...ur expri..ur time u spend on it.....

But I can say something to U. Trend is always ur friend.
To Sell when market Down (03 tops, head&shoulders...)

and Buy when it ..Up ( 02 bottom, Ascen.... Triangle...) . U have to know patterns, Fibo.. and Candles. ect....

and u also take a long time to see it to got the idea of market to understand it...to follow it....

have a9day. Goodluck4 U & 4 All traders

Gday&Gtrade
I am Mr Market&Mr Trend - U following me?
  • #173,133
  • Dec 16, 2009 10:28pm Dec 16, 2009 10:28pm
Quoting tenet
HI Gatorinla

I look ur chart...is short time 01hours.
and too many res&Sup... it not good. U should not do like that. Becoz if u do that U can not trade and U never know how to follow market.

This my forecast : http://www.forexfactory.com/showthread.php?t=211705

U will see. If u want to dis cuss we can do. U r welcome.

Gday&Gtrade
thanks.. whats your address? i will send you a homemade dinggleberry pie for christmas..
those who can, do. those who cant, talk about those who can
  • #173,134
  • Dec 16, 2009 10:30pm Dec 16, 2009 10:30pm
Tnx for all the input all. Was very helpful. Will try to incorporate some of it into my trading.
  • #173,135
  • Dec 16, 2009 10:30pm Dec 16, 2009 10:30pm
To follow up on my previous post: along with the trend lines you saw on my chart, you also want to consider staright line support/resistances and fibo levels. Take profits are above/below these levels and try not to do less than 1:1 (tp:sl). Ideal is 1.5:1 or better.
  • #173,136
  • Dec 16, 2009 10:32pm Dec 16, 2009 10:32pm
Quoting gatorinla
thanks.. whats your address? i will send you a homemade dinggleberry pie for christmas..
LOL. Classic.
  • #173,137
  • Dec 16, 2009 10:33pm Dec 16, 2009 10:33pm
Quoting tenet
HI Alveino

Ur ques.. is what all trader who want to know but it's not coming soon when U trade, It's coming slowly...ur expri..ur time u spend on it.....

But I can say something to U. Trend is always ur friend.
To Sell when market Down (03 tops, head&shoulders...)

and Buy when it ..Up ( 02 bottom, Ascen.... Triangle...) . U have to know patterns, Fibo.. and Candles. ect....

and u also take a long time to see it to got the idea of market to understand it...to follow it....

have a9day. Goodluck4 U & 4 All traders

Gday&Gtrade
lol
A picture is worth a thousand words. Throw him up a chart or two rather than trying to make it sound complicated is much more helpful to the person asking. It's cute how you make it sound mystical
Thank You
  • #173,138
  • Dec 16, 2009 10:33pm Dec 16, 2009 10:33pm
Quoting gatorinla
thanks.. whats your address? i will send you a homemade dinggleberry pie for christmas..
Hi Gatorinla

Thnkq for ur kindness but I am in Saigon now. If u want we can be a friend to discuss about this crazy & hard market. . I still live with it and I want to help someone who want to like me....

Gday&Gtrade.
I am Mr Market&Mr Trend - U following me?
  • #173,139
  • Dec 16, 2009 10:36pm Dec 16, 2009 10:36pm
Gator,

Where should one enter to get Short? I am used to waiting for it go back to the level it broke thru like the 4502 area but am not thinking we will see that now.......

SInce AUD broke the 89.40 is it likely a short at a break of the 4383 area is good?

Thanks
  • #173,140
  • Dec 16, 2009 10:37pm Dec 16, 2009 10:37pm
Is it possible for hourly rsi to go to zero?
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