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  • #81
  • Jan 22, 2010 2:52am Jan 22, 2010 2:52am
Hello. Eur/usd is maybe reversing to eur bull...?
Question: How to discover if it is pullback or reverse? Or, how to behave, when it is not so clear...
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  • #82
  • Jan 22, 2010 3:27am Jan 22, 2010 3:27am
Quoting auxesis
Just playing Dollars and Halves, boredom trades in the Asian, not much movement. Eyelids feel like weights, time for sleepy. Tomorrow is a holiday and thin market, see you all Tuesday.

Shorted originally and flipped.

http://cdn.forexfactory.com/attachme...1&d=1263787302


fwiw,


I know some will love for your generous spreads aka pips... YOUR BROKER...

Sonic


http://techgurls.blorc.com/wp-conten...am%5B5%5D1.jpg
  • #83
  • Edited 4:21am Jan 22, 2010 4:08am | Edited 4:21am
[quote=sonicdeejay;3391153]I know some will love for your generous spreads aka pips... YOUR BROKER...


Hi Sonic,
Not sure your comment is helpful or necessary. I'd say you have shared a blinding flash of the obvious. Perhaps you have something of substance to share. Otherwise, thanks for stopping by and best wishes to you.
  • #84
  • Jan 22, 2010 4:29am Jan 22, 2010 4:29am
Quoting Fana
Hello. Eur/usd is maybe reversing to eur bull...?
Question: How to discover if it is pullback or reverse? Or, how to behave, when it is not so clear...
Hi Fana,
Quick reply to your question: it is really difficult to pick reversal levels. Google "reversal patterns", "bull flag", and "bear flag" for more information. However, what ever you do, remember that you are trading the charts and they will tell you what to do. DO NOT let your brain think you in to doing something. Follow PA on the charts.

By the way, the current pattern on the euro is a pullback and not a reversal. It may reverse but no clear signal yet (there are some indications that the fall has reached a limit for now, but that is only one sign). The trend is down and I am looking for a place to short the E/$.
  • #85
  • Jan 22, 2010 4:32am Jan 22, 2010 4:32am
Quoting sonicdeejay
I know some will love for your generous spreads aka pips... YOUR BROKER...

Sonic
Lol, I looked at your avatar, your a puppet.
  • #86
  • Jan 22, 2010 4:48am Jan 22, 2010 4:48am
Fana if you did not enter long near the bottom then stay away and try shorting from 14150-14290 or jut above depending on leverage used.
Trying to get in long over 14100 is hard now,could be don with tight stop or huge stop with tiny leverage....stop well below 13900
I would consider reverse if price stays above 14300 for some time.
By the way,thanks for the question it make me finish my homework..to analyze before jumping in
  • #87
  • Jan 22, 2010 4:51am Jan 22, 2010 4:51am
Quoting Fana
Hello. Eur/usd is maybe reversing to eur bull...?
Question: How to discover if it is pullback or reverse? Or, how to behave, when it is not so clear...
I am short the E/$ at 1.4160 and protecting my entry price now.
  • #88
  • Jan 22, 2010 4:55am Jan 22, 2010 4:55am
Here is the chart:
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  • #89
  • Jan 22, 2010 4:59am Jan 22, 2010 4:59am
Quoting GEfx
Hi Fana,
Quick reply to your question: it is really difficult to pick reversal levels. Google "reversal patterns", "bull flag", and "bear flag" for more information. However, what ever you do, remember that you are trading the charts and they will tell you what to do. DO NOT let your brain think you in to doing something. Follow PA on the charts.

By the way, the current pattern on the euro is a pullback and not a reversal. It may reverse but no clear signal yet (there are some indications that the fall has reached a limit for now, but that...
Hello GEfx. Thank you. Currently i follow your instructions and study materials posted here and on Fti's thread... I practise demo. It is easy to start with trading. Difficult is to maintain struggling, repeat and survive. That is why i ask sometimes the same, why i ask some very easy questions, which are obvious and begginers like me (including myself), can explore in some conditions. But here is the difference i have recognized. "Nearly everybody is the general AFTER the battle.
It is important to learn to be general all the time, only thus i can survive...and become the trader.

Thank you for all you do for us.

And happy weekend. Much regards. Fana
  • #90
  • Jan 22, 2010 4:59am Jan 22, 2010 4:59am
Quoting Fana
Hello. Eur/usd is maybe reversing to eur bull...?
Question: How to discover if it is pullback or reverse? Or, how to behave, when it is not so clear...
Fana,

A wise man once told me, " nothing walks through the forest in a straight line, lest he gathers many knots on his forehead".

The trend is still down.

Yes, euro may be correcting, it's natural. Is it the very bottom and all north from here? I dunno, but I do know that price has been all south for days, correct?

Price moves in waves, up and down, when it's trending those waves are longer in one direction, right? In a trend, where do you think you have the best opportunity to make bigger profits?

There are trends or waves inside bigger waves. For a trend to end price must turn and take out some levels in the opposite direction, failure to do that and the trend is still intact.

So to your picture, Yes, Euro on the 5's has made a base and is correcting. But we are still in a down trend, so no I do not want to be south at the moment, but if I'm trading the main trend I want to wait till the 5 minute charts turn south.
  • #91
  • Jan 22, 2010 5:02am Jan 22, 2010 5:02am
here's some thoughts
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  • #92
  • Jan 22, 2010 5:12am Jan 22, 2010 5:12am
very nice auxesis,last chart is so clear and so true
meaning,wait for that area of pullback or add small shorts as price goes up for 1.4 test

but....


for me $ will die so i would like to see 13800 taken to prove me wrong at least for next couple of years

but... $ could die and what about Eur..it could die also hahaha
  • #93
  • Jan 22, 2010 5:19am Jan 22, 2010 5:19am
Quoting auxesis
here's some thoughts
Auxesis. Thank you. Great charts. Yours and GEfx's charts are one of the most comprehensible at FF. Many thanks for that.
  • #94
  • Jan 22, 2010 5:20am Jan 22, 2010 5:20am
Here's your wave structure down here on the 5's, When price leaves an area, it normally retests it, this is true on all levels(but always remember price is king and it doesn't necessarily have to respect any level, it can blow through anything if it wants). In that focus you want to look for price to break south from the retracment and enter in the main trend direction on the following pullback.

Something to remember, basic Elliott wave. Impulse waves are 5, corrective waves are 3...... both have at least 3....... push, pullback, and 2nd push.

some basic stuff to ponder,

regards
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  • #95
  • Jan 22, 2010 5:26am Jan 22, 2010 5:26am
Fana,

There's nothing wrong with trading a correction, if you know what you are doing, but you have to be very cautious as the trend can kick in at any moment. Doing so, you reduce size and are very nimble, taking what ever you get as thankyou!

You need to stick with trading the main trend direction, stay with it until you see price turning on the smaller timeframes, be patient as it corrects, the market will do what it wants too, your the hunter waiting for the moment to strike, for the prey to show itself.
  • #96
  • Jan 22, 2010 5:31am Jan 22, 2010 5:31am
Now protecting 1.4157 on my E/$ short, but we have hit 4128 and bounced. A break of 4128 is good news for me, but not yet.
  • #97
  • Jan 22, 2010 5:35am Jan 22, 2010 5:35am
Quoting GEfx
Now protecting 1.4157 on my E/$ short, but we have hit 4128 and bounced. A break of 4128 is good news for me, but not yet.
Show off,

I got a small one off short @41 may pull out and watch it here. What time was your entry?

edit partial taken 26, look to add on any pull back, holding.
  • #98
  • Jan 22, 2010 5:41am Jan 22, 2010 5:41am
Quoting auxesis
Show off,

I got a small one off short @41 may pull out and watch it here. What time was your entry?
Hi auxesis, my entry was at 4:36 CST. I may follow you out now and see what happens from here. At least protect 4136, will have to see here pretty soon.
  • #99
  • Jan 22, 2010 5:46am Jan 22, 2010 5:46am
Quoting GEfx
Hi auxesis, my entry was at 4:36 CST. I may follow you out now and see what happens from here. At least protect 4136, will have to see here pretty soon.
Hell'eva entry! good job.

There's no news today, for a Friday, not sure how that's effects us. Fridays are either very directional or very opposite that, lol.

I'm just trailing this one, see how far she wants to go.

regards

edit gotta run for few, phone call........... out 18
  • #100
  • Jan 22, 2010 5:53am Jan 22, 2010 5:53am
Quoting auxesis
Hell'eva entry! good job.

There's no news today, for a Friday, not sure how that's effects us. Fridays are either very directional or very opposite that, lol.

I'm just trailing this one, see how far she wants to go.

regards
Yep, my mentor has been kicking me in the seat about entering at the right price level of these things and I have finally started doing that. I had a very tight stop in mind and am shooting for 4090 if it can get through 4118.

Fridays are tough trading days for me especially after NY open. Not sure why I get out of sync then, but it happens. No news may clear out the noise and things may be ok, but there is a CAD announcement at 7:30 CST.

OK, we are through 4118, moving my protection to 4130 now.
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