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  • #185,061
  • Jan 26, 2010 12:39pm Jan 26, 2010 12:39pm
Quoting PriceVolume
A shakeout is a movement that occurs counter to the primary trend, typically in a proportion to make the "uncertain" traders nervous (not to be confused with a regular pullback in price action). Those unsure will often close their trades, only to witness the trend resume shortly thereafter. But, when in doubt....it is best to close. Stop hunting is a frequent cause of this....
I see said the blind man as he picked up his hammer and saw.. Thank you for letting me have some of your knowledge,
  • #185,062
  • Jan 26, 2010 12:39pm Jan 26, 2010 12:39pm
Quoting Shad
What Is Your Idea About 1.4565 !?



I'd say "Welcome to Wonderland"
COT: The precious data ignored
  • #185,063
  • Jan 26, 2010 12:41pm Jan 26, 2010 12:41pm
Quoting chimex
wave counts suggests that the recent move on this pair towards 1.41 is wave 4 of the final 5 wave rally and downside movement is expected to still take this pair towards 1.4018 region were a bullish seen should occur...
yes we r heading that way my target 1.3980
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  • #185,064
  • Jan 26, 2010 12:46pm Jan 26, 2010 12:46pm
Quoting PriceVolume
A shakeout is a movement that occurs counter to the primary trend, typically in a proportion to make the "uncertain" traders nervous (not to be confused with a regular pullback in price action). Those unsure will often close their trades, only to witness the trend resume shortly thereafter. But, when in doubt....it is best to close. Stop hunting is a frequent cause of this....also, brokers with news threads contibute to this by articles suddenly being posted stating "our model says" this or that.....perfect example, prior to the peel upward,...
very good point from someone who said few hours ago bye bye 1.45 lol this is exactly what you should learn not teach what you dont know
  • #185,065
  • Jan 26, 2010 12:47pm Jan 26, 2010 12:47pm
Judging from the way the USD/CHF pair has been acting...it is my firm belief the Swiss has a lot to to with the subdued environment we are in. It's almost as if they have a few obligations to take USD/CHF above the 1.07-1.10 level.


Nonetheless, it appears shorts are in for a deep squeeze.
  • #185,066
  • Jan 26, 2010 12:48pm Jan 26, 2010 12:48pm
Quoting wannaberich
speaking of greed here is another thought:

if i am short, pa goes 20 pips down, i set my sl to be. this means i have no risk! so i can re-enter down at the next retrace without breaking my 3% max. risk.

i did this just on the last eu downer. if i had closed at 1.4050 it would be +60 pips. had to go to a meeting and when i came back it went to sl (at be of both trades, give or take a pip).

stupid strategy?

hapipipin
Having to leave your computer and not being able to watch pa is a special circumstance in itself, especially when only 20pips equals 3% of your account. In this scenario if you have the luxury to put stop loss at be, it is the best thing to do as you never know what pa will do in the time you are away. I would not have taken the second trade however if you had to go as one blind position is enough. Then there is the issue of risk/reward. There are countless opinions on how this is done best and many methods work just fine. Still, most would say the ratio should be 1:1 or 2:1 or 3:1..any more is pure greed. In other words...if your stop loss is 20pips or 3% of your account, then your take profit should be 20pips to 60pips (3% to 9% profit). For one trade, that is massive profit...any more is just pure greed. Just my 2 cents..
Different opinions highly valued, ignorant to slander.
  • #185,067
  • Jan 26, 2010 12:51pm Jan 26, 2010 12:51pm
Quoting nawafasad1
very good point from someone who said few hours ago bye bye 1.45 lol this is exactly what you should learn not teach what you dont know
Yeah, I was wrong. That happens sometimes. Guess what? I'm still in profit. Given your attitude I'm going to assume you're wrong far more often than you're right. And, given some of you past posts - I know this to be fact. Good luck with your trades!
  • #185,068
  • Jan 26, 2010 12:52pm Jan 26, 2010 12:52pm
I am buying EURO - Targeting 38.2 Fib as the Alternate Correction

Bare in mind. Big Picture remain the same as Bearish
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Fools Rushing
  • #185,069
  • Jan 26, 2010 12:57pm Jan 26, 2010 12:57pm
Quoting Shad
What Is Your Idea About 1.4565 !?


Motions in the market go from trendline to trendline. Motions only change direction at the trendline level. If a motion has not reached its destination on the higher time frames, but your indicator or pattern analysis has confirmed that there is a reversal, then 80-90% of the time you will be very very disapponted to see the trend continuing in the original direction. Pattern analysis and Indicator "Truthfullness" is only 99% right when the motion has hit a important trendline. Its only at that time where the indicators give authentic indication and when the Ellioticians can really be happy about their wave counts. On the weekly time frame we see a distinct middle trendline that has been acting as a very strong dividing wall separating up motions from down motions. Unless the lower trendline gets hit we wont see any major reversals on the daily time frame and we will only see 38.2 and 61.8 fibonacci retracements. Every time these retracements happen and a spike upwards happen everybody thinks its reversing. it is not reversing, it is a good chance to go short, until you are close to that trendline on the weekly time frame. Bottomline is that we are going to be in our "SHORTS" for the next 2-3 weeks
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  • #185,070
  • Jan 26, 2010 1:00pm Jan 26, 2010 1:00pm
Quoting MTF Test
hmmm.. interesting to see EU on 1.42 level. but what do you think of 1.41xx level. will it hold . i can see a strong Support and now basicly it's the Resistant.

and matter of fact THE big dogs are looking for 1.39xx/40

Im sure that a lot of stops are parked below 4050...easy for big money to take em out
  • #185,071
  • Jan 26, 2010 1:01pm Jan 26, 2010 1:01pm
Quoting MTF Test
I am buying EURO - Targeting 38.2 Fib as the Alternate Correction

Bare in mind. Big Picture remain the same as Bearish
Reasonable. I expect it
  • #185,072
  • Jan 26, 2010 1:02pm Jan 26, 2010 1:02pm
does any one know y gold i rising on a good usd data. thanks.
  • #185,073
  • Jan 26, 2010 1:03pm Jan 26, 2010 1:03pm
Quoting Optimum
Reasonable. I expect it

i bought it 1h ago....
  • #185,074
  • Jan 26, 2010 1:07pm Jan 26, 2010 1:07pm
Quoting traderuros
i bought it 1h ago....
That's why it is going up
  • #185,075
  • Jan 26, 2010 1:14pm Jan 26, 2010 1:14pm
Possible H&S .shorted as per for limited tp but pending longs at the bottom areas & leaving .
good night ,see you all next morning my time.
gontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #185,076
  • Jan 26, 2010 1:16pm Jan 26, 2010 1:16pm
5min head&shoulder....
  • #185,077
  • Jan 26, 2010 1:19pm Jan 26, 2010 1:19pm
Quoting PriceVolume
Yeah, I was wrong. That happens sometimes. Guess what? I'm still in profit. Given your attitude I'm going to assume you're wrong far more often than you're right. And, given some of you past posts - I know this to be fact. Good luck with your trades!
which posts my follow trader the ones i ve done may be somebody else s i dont post alot in here but the ones i ve done are GREAT because they were before we start trading putting in the chart what wave are in and what to expect
  • #185,078
  • Jan 26, 2010 1:20pm Jan 26, 2010 1:20pm
I'll keep my short ....going long is too risky especially with this upmove
Like PriceVolume said it looks like a Shakeout...just to kick short stop...thinking the price will go up and take every long with it

Price wasn't even support by vol...that's why it looks fake but i might be wrong

Good luck longs & shorts
COT: The precious data ignored
  • #185,079
  • Jan 26, 2010 1:21pm Jan 26, 2010 1:21pm
Analise SELL
  • #185,080
  • Jan 26, 2010 1:25pm Jan 26, 2010 1:25pm
Quoting kuroro001
I'll keep my short ....going long is too risky especially with this upmove
Like PriceVolume said it looks like a Shakeout...just to kick short stop...thinking the price will go up and take every long with it

Price wasn't even support by vol...that's why it looks fake but i might be wrong

Good luck longs & shorts
Not saying that it's for sure, though. We're in a tight consolidation on the 5M....could pop above 4100. My shorts are all in profit, with stops to BE+. I'm flat for now.
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