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Let us play a game in Forex Trading 2 replies

box play 18 replies

The "Squeeze" play 7 replies

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Play this game...

  • #1
  • First Post: Jan 4, 2010 2:59pm Jan 4, 2010 2:59pm
Hello traders, I have a game for you... I have searched a chart in a random past date for eur/usd.

the game is that you tell where the market is going to go, what is going to do, and what would you do in that market condition...

then i will post a picture showing what the market did, and compare results of the players...

lets play...

here is eur/usd, 1h chart, unknown day and time... price at 1.3067
http://img339.imageshack.us/img339/7329/img1i.png

Give your best analysis!....
Get rich or die trading.
  • #2
  • Jan 4, 2010 3:03pm Jan 4, 2010 3:03pm
I'd have profit locked in from the pin 2 candles ago
  • #3
  • Jan 4, 2010 3:13pm Jan 4, 2010 3:13pm
I'm not a good enough trader to play this game on one timeframe. But throw on a 10 minute chart (for entries and stops) and a four hour chart (to give an idea of when the 1 hour chart downtrend might end - for exiting purposes) and it could be done.
  • #4
  • Jan 4, 2010 3:22pm Jan 4, 2010 3:22pm
Quoting Lionstrike
I'm not a good enough trader to play this game on one timeframe. But throw on a 10 minute chart (for entries and stops) and a four hour chart (to give an idea of when the 1 hour chart downtrend might end - for exiting purposes) and it could be done.
nice idea, i will post multiple timeframes in next games, for now lets play this with 1 chart....
Get rich or die trading.
  • #5
  • Jan 4, 2010 3:28pm Jan 4, 2010 3:28pm
easy-. I guarantee that by January 4th 2010 price will be above 1.4400, therefore I would have 1400 pips profit. I WIN!!
  • #6
  • Jan 4, 2010 3:32pm Jan 4, 2010 3:32pm
Quoting magnumfreak
easy-. I guarantee that by January 4th 2010 price will be above 1.4400, therefore I would have 1400 pips profit. I WIN!!
we are talking about what the market will do in the next 24 hours from the chart above
Get rich or die trading.
  • #7
  • Jan 4, 2010 3:33pm Jan 4, 2010 3:33pm
Quoting Magodelforex
we are talking about what the market will do in the next 24 hours from the chart above
well next time give all the rules to the game and don't make them up as you go.
  • #8
  • Jan 4, 2010 3:36pm Jan 4, 2010 3:36pm
I would go short. I'm going with the trend...
Let's see!
Jacko's turtle
  • #9
  • Jan 4, 2010 3:36pm Jan 4, 2010 3:36pm
Quoting magnumfreak
well next time give all the rules to the game and don't make them up as you go.
i though it was a logical thing, sorry...
Get rich or die trading.
  • #10
  • Jan 4, 2010 3:59pm Jan 4, 2010 3:59pm
I'll stick with it until PA says otherwise .. and in the absence of other info be keeping an eye out for convergence / divergence of the two red arrows ... mainly just naked PA though :-)
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wash, rinse, spin . . . repeat
  • #11
  • Jan 4, 2010 4:21pm Jan 4, 2010 4:21pm
ok lets give it a try... we are looking at several days of data here, along with an unclosed candle. My guess would be we are on Thursday or Friday since I do not see anything resembling a weekend gap.
So the major trend has been downward for most of the week with a few stepping stones along the way. In the long term I would continue with this trend probably a day or so more and then look for a sideways movement. After that I would wait and see which way it wants to trend again.
In the short term I would wait for the current candle and probably the next one to close to see if this is just a small resistance pocket and possibly a scalp area. It has dropped a good amount so that a small reversal could be there, but I doubt it and there is nothing to tell me to go against the main trend at this point. Plus I never trust a sunday or friday chart as the big boys play to many games on these days.
If I am in the trade down I stay with the trend down a little longer, get out and wait for a sure reverse trend signal. If I am not in a trade, I would wait to see this trend end and get in on the reversal.

TJ
  • #12
  • Jan 4, 2010 4:33pm Jan 4, 2010 4:33pm
Wait for the current candle to spike down then long for heaven!
  • #13
  • Jan 4, 2010 4:46pm Jan 4, 2010 4:46pm
yes heaven could be waiting but based on just the chart given the devil is my guess for the next day or so. With out any news or big player push the trend will continue. This pair does like to trend sideways before a non event reversal and that is what I would wait for. But again there is the possibility for a short reversal and a small scalp based on the amount it has dropped, but thats not for me.

TJ
  • #14
  • Edited 5:44pm Jan 4, 2010 5:04pm | Edited 5:44pm
Great idea, was fun and an excellent place to draw from.

Projections all originated within the boundaries (in grey) of your chart. The entry's below and its effectiveness here.

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  • #15
  • Jan 4, 2010 5:25pm Jan 4, 2010 5:25pm
i like games
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  • #16
  • Jan 4, 2010 7:10pm Jan 4, 2010 7:10pm
Not enough info, I would want to see where any prior S/R levels are, in the vicinity of the current price. But everything else being equal, the downward move should continue.
  • #17
  • Jan 4, 2010 7:40pm Jan 4, 2010 7:40pm
IMHO -- you would be foolish to trade given the information provided. What is the time of day and is a FA about to be announced? How does this 1H chart fit into a 4H and Day chart? Where are significant S/R on the 4H and Day? Where the heck are my fibs? LOL. However, if you put a gun to my head and forced me to enter a trade, I'd buy with a tight stop, anticipating the market will want to square up with some price level above the current level, not to mention the stops that are sitting above the last resistance about 1.3200.
  • #18
  • Jan 4, 2010 7:43pm Jan 4, 2010 7:43pm
Quoting GEfx
IMHO -- you would be foolish to trade given the information provided. What is the time of day and is a FA about to be announced? How does this 1H chart fit into a 4H and Day chart? Where are significant S/R on the 4H and Day? Where the heck are my fibs? LOL. However, if you put a gun to my head and forced me to enter a trade, I'd buy with a tight stop, anticipating the market will want to square up with some price level above the current level, not to mention the stops that are sitting above the last resistance about 1.3200.

IT IS A GAME
  • #19
  • Jan 4, 2010 8:20pm Jan 4, 2010 8:20pm
Quoting blacksun1
IT IS A GAME
I know, I played. I said I'd buy. Pardon my tendency to be anal about this kind of thing -- LOL.
  • #20
  • Jan 4, 2010 9:01pm Jan 4, 2010 9:01pm
It may bounce from the bottom of the channel. I would probably wait for price to go back up to 1.31 and go short with some kind of price confirmation.
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