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  • #180,761
  • Jan 13, 2010 10:30pm Jan 13, 2010 10:30pm
Off topic the CFTC has introduced a new regulation for a decrease on retail forex leverage to 10:1. You have 60 days to make comments. You may be thinking thats fine I'll just open a an fx account overseas. But if we let it start here it will most likey eventually reach everywhere. As well as all the inconvenecies off an offshore broker. Imagine the margine requirement for GBP/USD at $2,860 for $1 a pip. A standard lot being $28,600.

http://www.cftc.gov/newsroom/general...pr5772-10.html
  • #180,762
  • Jan 13, 2010 10:36pm Jan 13, 2010 10:36pm
Quoting gatorinla
i cant put a watch on the time but i tended to agree with the possible spike. from 4569 probably will stop at either 4573 or 84 0r 86 up too 4600....i had another from last night that put us over 4700... but after china ran its mouth i discounted this.. after china ran its mouth im surprised we are this high atm.. commodities decline should boost usd. if new low happens before your spike then you can throw away my numbers and included yellow chart. in the yellow chart posted i show potential spike from last night. . but as you see it stopped at...
scalping for me.. till we get below 4444 or above 4600... #180209

got the flu, so little posting from me.
those who can, do. those who cant, talk about those who can
  • #180,763
  • Jan 13, 2010 10:36pm Jan 13, 2010 10:36pm
Quoting stantony1
Thank you! Very helpful. I am assuming that the 3 bar trail stop works in all time frames? The swing high and swing low would somewhat make sense in higher time frames (30 min plus). The last one is intraday.... can you explain that one in further detail?

Much appreciated.
all these ways are for 15m TF . say you started at 1.455 to sell you had a sloss of 30 pips on it at 1.458 and it moved in your favor at 30 pips profit move sl to BE if it s gone to 1,449 move sl 30 pips to 1.4520 .you have to keep in mind that average movement in one direcyion between swings 40 pips so 30 is just a number i d go for 45 pips
  • #180,764
  • Jan 13, 2010 10:42pm Jan 13, 2010 10:42pm
Quoting nawafasad1
all these ways are for 15m TF . say you started at 1.455 to sell you had a sloss of 30 pips on it at 1.458 and it moved in your favor at 30 pips profit move sl to BE if it s gone to 1,449 move sl 30 pips to 1.4520 .you have to keep in mind that average movement in one direcyion between swings 40 pips so 30 is just a number i d go for 45 pips
This is excellent info! Thanks again! I'll put this into practice on my next trade!
  • #180,765
  • Jan 13, 2010 10:44pm Jan 13, 2010 10:44pm
Quoting The Fool
It Up!
Eyeing at 1.54xx, aiming at 1.4930 but may close longs at 1.4750.
The Thief of Wall Street
  • #180,766
  • Jan 13, 2010 10:45pm Jan 13, 2010 10:45pm
With all due respect to Pivot and Fibonacci traders, this current market seems to want to cross the Four Hour 200 Period Exponential Moving Average (H4 200 EMA). This would put us back on the road to the previous longer term, pre-holiday trend.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd four hour chart since november 2009.jpg Size: 61 KB
Click to Enlarge Name: eurusd four hour chart - close up.gif Size: 47 KB
  • #180,767
  • Jan 13, 2010 10:47pm Jan 13, 2010 10:47pm
Quoting Luscus
With all due respect to Pivot and Fibonacci traders, this current market seems to want to cross the Four Hour 200 Period Exponential Moving Average (H4 200 EMA). This would put us back on the road to the previous longer term, pre-holiday trend.
What do you mean.?? Can you expalin to me,thanks.
  • #180,768
  • Jan 13, 2010 10:51pm Jan 13, 2010 10:51pm
Quoting Chicky
Eyeing at 1.54xx, aiming at 1.4930 but may close longs at 1.4750.
Hiya Chicky & Happy New Year!

I am eyeing a long as well, but not until I see 4575 convincingly taken out. My first target will be in the region of 4750-ish. This could turn pear shaped if the US unemployment news doesn't perform though.

5c

Doing what you like is Freedom. Liking what you do is Happiness.
  • #180,769
  • Jan 13, 2010 10:51pm Jan 13, 2010 10:51pm
Quoting stantony1
Valid idea... but how do you set your stop loss when you are in the money?
try heiken ashi candle.. get out after first candle closes against you. all depends on your tf. (unless you know where S/R is then you may want to get out there) may not be good for 1 min chart.. study past moves using candles they last a while..
those who can, do. those who cant, talk about those who can
  • #180,770
  • Jan 13, 2010 10:57pm Jan 13, 2010 10:57pm
Quoting stantony1
This is excellent info! Thanks again! I'll put this into practice on my next trade!
swings do wonders as trailing stops or entry into trades
Attached Image (click to enlarge)
Click to Enlarge Name: a1.gif Size: 21 KB
  • #180,771
  • Jan 13, 2010 11:16pm Jan 13, 2010 11:16pm
im still bearish this chart never hit target 4138. but shorter term 4709 would not surprise me...4600 should be strong resistance. 4709 is half of this charts move. .. i always said s/r can stop it..there is a bunch below 4217 till 4185... i will scalp/range/interday. trade. between 4709 and 4444.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 20 KB
those who can, do. those who cant, talk about those who can
  • #180,772
  • Jan 13, 2010 11:25pm Jan 13, 2010 11:25pm
Quoting gatorinla
im still bearish this chart never hit target 4138. but shorter term 4709 would not surprise me...4600 should be strong resistance. 4709 is half of this charts move. .. i always said s/r can stop it..there is a bunch below 4217 till 4185... i will scalp/range/interday. trade. between 4709 and 4444.
I agree that 4600 ought to be strong, but if the news is powerful enough I imagine 4600 will fold easily.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #180,773
  • Edited 11:45pm Jan 13, 2010 11:32pm | Edited 11:45pm
Morning all ,there perhaps another bull at the top again but I am doing mostly shorts at this level.expecting more shorts before bull play , tp set 1) 1.4497 2) 1.4457 3) 1.4418 ( already set here most but now changed some to tp1 & 2 & if price here I will assume end of bull ) .

Bull success twice in a similar pattern of expanding triangle which itself bearish & still in it at the top trying for the 2nd time to break up bigger triangle ( first time actually it failed , even not over 1.4580, I doubt before ) .Lets see what happen 3rd try break or not.
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #180,774
  • Jan 13, 2010 11:36pm Jan 13, 2010 11:36pm
Anyone taking a gold trade atm?

Looking forward to Grashid's next blog post on this http://cdn.forexfactory.com/images/icons/icon7.gif...
  • #180,775
  • Jan 13, 2010 11:37pm Jan 13, 2010 11:37pm
Quoting realjumper
Hiya Chicky & Happy New Year!

I am eyeing a long as well, but not until I see 4575 convincingly taken out. My first target will be in the region of 4750-ish. This could turn pear shaped if the US unemployment news doesn't perform though.

5c

You too Real.

SL below 1.3700.
The Thief of Wall Street
  • #180,776
  • Jan 13, 2010 11:38pm Jan 13, 2010 11:38pm
Just moved my short TP to 4486. up from 4435 on one. other lot stayed same.

DZ
  • #180,777
  • Jan 13, 2010 11:49pm Jan 13, 2010 11:49pm
just set pending 452* for buy target 455* It look will down until 4525 n will up again to 4566. Any comment..
  • #180,778
  • Edited Jan 14, 2010 12:09am Jan 13, 2010 11:51pm | Edited Jan 14, 2010 12:09am
Quoting Rabax
Anyway, we might get to 550 during Asia, or even beetter, 1,4600.
Almost on the first number, let's see if it makes it. (GO ASIA, GO ASIA )

Edit: Out all @555.

Don't want to have to wait it out. Wil re-enter at more favorable prices or look for a short opportunity before EU session.
Greed and impatience are our greatest enemies.
  • #180,779
  • Jan 14, 2010 12:07am Jan 14, 2010 12:07am
Quoting big_pipin
is it true that ALL currency pairs are MOST active during eu session?... if this is true, why? Ya I know eu is the most popular, but someone give me a better reason. thanks.
Yes, it is.

1. Capital volume
2. Pair EURUSD has currencies that are both domestic currencies in the countries that trade during that time.
3. You have overlaping of EU and USA in the afternoon CET (or GMT)
4. The most important news gets released during that time
5. The drivers of the global economy are USA, CANADA, EUROPE and of course in that time you have also middle east (strong capital wise, especially because of OIL), South Africa and South and Middle Americas. So a huge bunch of money changing hands.
6. Not that Asian countries do not have such capital at hand, since it is obvious that they have taken the initiative and pushed the pair up or down beyond the S/R's of EU and US sessions... There are some very big players there.
Greed and impatience are our greatest enemies.
  • #180,780
  • Jan 14, 2010 12:12am Jan 14, 2010 12:12am
Next 1 hour the German Final CPI m/m, anybody it is UP or DOWN ?
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