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  • #15,801
  • Feb 9, 2010 9:03am Feb 9, 2010 9:03am
Quoting Patience
I can see what Petar is saying. We've bounced from daily 200 MA and 23.6% fib, RSI has turned up and today's candle is looking mighty fine. Risk is back on (at the moment). I'm going to be a little careful with more shorts until I see how we close today. We have gone over daily ATR though. You thinking bull trap?

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hi patience,
I look at your chart, you are right regarding MA and fib. I'm not saying the bull trend is over, just considering the RRR, I see a good entry for a short position -scallop pattern + S>R - I notice the similar pattern in European equity so made me think of being bearish for one day on two agianst R at .8775
  • #15,802
  • Feb 9, 2010 9:07am Feb 9, 2010 9:07am
I'm not in an Aussie trade at the moment. Have a small short on the EUR though. Just keeping an eye on things in case I see something I like on the AUD
  • #15,803
  • Feb 9, 2010 9:18am Feb 9, 2010 9:18am
Quoting shahab8b
hi patience,
I look at your chart, you are right regarding MA and fib. I'm not saying the bull trend is over, just considering the RRR, I see a good entry for a short position -scallop pattern + S>R - I notice the similar pattern in European equity so made me think of being bearish for one day on two agianst R at .8775
Yep, I can just see potential for it to run further if it so desires (not today since we've busted ATR). The retail trader has also been getting with the programme (i.e. reducing long positions and/or going short) and everyone seems to be expecting it to go down. This morning's sentiment is:

AUDUSD - The ratio of long to short positions in the AUDUSD stands at 1.04 as nearly 51% of traders are long. Yesterday, the ratio was at 1.34 as 57% of open positions were long. In detail, long positions are 8.0% lower than yesterday and 6.2% weaker since last week. Short positions are 18.8% higher than yesterday and 5.5% stronger since last week. Open interest is 3.5% stronger than yesterday and 5.1% above its monthly average. The SSI is a contrarian indicator and signals more AUDUSD losses.
Nothing worth having is easy.
  • #15,804
  • Feb 9, 2010 9:32am Feb 9, 2010 9:32am
Quoting shahab8b
ok, so you take a long at .8730 , current price, right? let me know when you are done.

Why that sarcasm ? I just said now is very bad idea to open any short position,maybe to scalp but not long term...On my setups still long...I gave you just advice

i took my profits and wait another setup...



Cheers
"Buy on fear, sell on greed !!!
  • #15,805
  • Feb 9, 2010 9:50am Feb 9, 2010 9:50am
Quoting Petar_Serbia
Why that sarcasm ? I just said now is very bad idea to open any short position,maybe to scalp but not long term...On my setups still long...I gave you just advice

i took my profits and wait another setup...



Cheers
why sarcasm? you said it is a good time to go long and I asked you to let me know when you close your long position form .8730 -the price when you posted-
I dont argue to go long or short- both can be done if you take them right time right place and use proper money management.

peace
  • #15,806
  • Feb 9, 2010 9:59am Feb 9, 2010 9:59am
Quoting shahab8b
why sarcasm? you said it is a good time to go long and I asked you to let me know when you close your long position form .8730 -the price when you posted-
I dont argue to go long or short- both can be done if you take them right time right place and use proper money management.

peace
Ok my friend,as i said i took 80 pips and now waiting to see another setup but i closed RRR 1:1 for strategy still up and no time to close...


Cheers and wish you many pips...
"Buy on fear, sell on greed !!!
  • #15,807
  • Feb 9, 2010 10:13am Feb 9, 2010 10:13am
descending scallop+ S>R all charts
for thos who like to learn more ,here is the link
http://thepatternsite.com/descscallops.html
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Click to Enlarge Name: dax-1.gif Size: 16 KB
  • #15,808
  • Feb 9, 2010 10:14am Feb 9, 2010 10:14am
A battle going on with the aud/nzd.......
Annoying Precision
  • #15,809
  • Feb 9, 2010 10:36am Feb 9, 2010 10:36am
Quoting shahab8b
descending scallop+ S>R all charts
for thos who like to learn more ,here is the link
http://thepatternsite.com/descscallops.html
lol ,good for you back 20 pips i hope you took profits now continue Up...
"Buy on fear, sell on greed !!!
  • #15,810
  • Feb 9, 2010 10:54am Feb 9, 2010 10:54am
Quoting Petar_Serbia
lol ,good for you back 20 pips i hope you took profits now continue Up...
I didnt exxpect tha but hopefully I had 4 positions and I took profit on 3 of them at 40 pips, just one left , and stopped out at B/E while I was taking a shower.
  • #15,811
  • Feb 9, 2010 10:56am Feb 9, 2010 10:56am
Here's our short squeeze! Germany to the rescue .... Glad I got out of my shorts as well - something is always better than nothing
Nothing worth having is easy.
  • #15,812
  • Feb 9, 2010 10:57am Feb 9, 2010 10:57am
Quoting Patience
Here's our short squeeze! Germany to the rescue .... Glad I got out of my shorts as well
they bailed out Greece?
  • #15,813
  • Feb 9, 2010 10:58am Feb 9, 2010 10:58am
Quoting shahab8b
they bailed out Greece?
Apparently Merkel is putting together a package. Details to come out tomorrow say Bloomberg
Nothing worth having is easy.
  • #15,814
  • Feb 9, 2010 10:59am Feb 9, 2010 10:59am
I hope daytrader made it out of his short before all this happened. I got out of my EUR with + 5 intact, what a spike.


Kim
  • #15,815
  • Feb 9, 2010 11:03am Feb 9, 2010 11:03am
Quoting Patience
Apparently Merkel is putting together a package. Details to come out tomorrow say Bloomberg
now I'm thankful to my commitment to risk management. market always surprises you
  • #15,816
  • Feb 9, 2010 11:04am Feb 9, 2010 11:04am
Quoting negro wolf
long @ 0.87075
first t.p = .87750

good luck to all

target hitted

people that said .. short ????????
if it doesnt head down as u said
please raise the hat for me

thanks
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #15,817
  • Feb 9, 2010 11:12am Feb 9, 2010 11:12am
Good trading Peter
  • #15,818
  • Feb 9, 2010 11:15am Feb 9, 2010 11:15am
Quoting shahab8b
now I'm thankful to my commitment to risk management. market always surprises you
Don't it just. I think that's why I find it so fascinating - you just never know. A bit strange that E/G has hardly moved. Right on London close as well.
Nothing worth having is easy.
  • #15,819
  • Feb 9, 2010 11:34am Feb 9, 2010 11:34am
Still Long at 0.88005.
  • #15,820
  • Feb 9, 2010 1:10pm Feb 9, 2010 1:10pm
well, stopped out of positions from last night, but the bear in my hasn't given up just yet

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