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  • #195,241
  • Feb 12, 2010 10:25am Feb 12, 2010 10:25am
Quoting MuddBuddha
I gotta admit, that is one of the guttiest statements I've heard on FF....other than the 1,000 pip a week kids.

And it's not just about traders. There are several more entity's moving currencies than the handful of speculators that we believe moves this market.

From my crudely and quickly thrown together chart:

EVERY TREND HAS TO HAVE PULLBACKS IN ORDER TO SUSTAIN ITSELF.

I agree there could be a retracement, but what if it went to the tip- or broke channel, if it did retrace and break 3850 i'd wait to sell
  • #195,242
  • Feb 12, 2010 10:27am Feb 12, 2010 10:27am
Quoting MuddBuddha
EVERY TREND HAS TO HAVE PULLBACKS IN ORDER TO SUSTAIN ITSELF.
MuddBuddha just dropped a pearl. Hope the noobs pick up on it. The trick comes in recognizing the difference between pullback, trend continuation, and reversal.
  • #195,243
  • Feb 12, 2010 10:28am Feb 12, 2010 10:28am
Quoting PriceVolume
MuddBuddha just dropped a pearl. Hope the noobs pick up on it. The trick comes in recognizing the difference between pullback, trend continuation, and reversal.
if you wanna eat you gotta shit..
those who can, do. those who cant, talk about those who can
  • #195,244
  • Feb 12, 2010 10:31am Feb 12, 2010 10:31am
Quoting Clouds
I agree there could be a retracement, but what if it went to the tip- or broke channel, if it did retrace and break 3850 i'd wait to sell
Well, it depends.

If you wanted to play a break of the wedge, you could enter sooner but you're risk would be higher and your lots would need to reflect it. You could possibly get in around 3700-3750.

If you waited to play a strike of the channel itself, then you would be in a safer trade with a normal RRR, which would put in that 38XX range.

These channel and wedge trades are explained in great detail in Alexander Whats-His-Name's book. I believe it's "Welcome to My Trading Room"
Capital Preservation is key to long term wealth accumulation
  • #195,245
  • Feb 12, 2010 10:33am Feb 12, 2010 10:33am
Quoting gatorinla
as long as china has currency peged.. euro will continue to go down..
Chinese currency was pegged all the time in 2007 too, when Dollar drop below 1.60.

Has nothing to do with this. Every possible trader and Big ones are Short

EUR, which means there is about 15 people in the same boat 14 of which

sitting on the 1 side, it's about to turn them over.. Any positive news and

EU to 1.41-1.42 in 1-2 sessions non-stop.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #195,246
  • Feb 12, 2010 10:35am Feb 12, 2010 10:35am
Quoting PriceVolume
MuddBuddha just dropped a pearl. Hope the noobs pick up on it. The trick comes in recognizing the difference between pullback, trend continuation, and reversal.
Right.

On the Daily chart, 1.42 to 1.46 most likely convinced several traders that a full reversal had occurred, when in fact, it was a deep pullback catching over leveraged traders with theirs pants down when the trend continuation continued.

All sellers have to be matched with buyers in order for price to move whatsoever. Without pullbacks, long term buyers would have no incentive to add on to their positions at lower cost; and sellers would short currencies into oblivion.
Capital Preservation is key to long term wealth accumulation
  • #195,247
  • Feb 12, 2010 10:36am Feb 12, 2010 10:36am
Must have weekley open above 1.355 or else possible 1.31. Watch out for some crazy moves over the weekend especially Sun evening or Monday.
  • #195,248
  • Feb 12, 2010 10:37am Feb 12, 2010 10:37am
Seriously, I know I've said it previously in this thread, but if you haven't read DarkStars post, you need to.

The market makes so much more sense when you understand his post.

HERE

There's a reason Merlin made it a permanent post.
Capital Preservation is key to long term wealth accumulation
  • #195,249
  • Feb 12, 2010 10:39am Feb 12, 2010 10:39am

It's getting late in the day, so I'll stop babbling....

Capital Preservation is key to long term wealth accumulation
  • #195,250
  • Feb 12, 2010 10:40am Feb 12, 2010 10:40am
Come into My Trading Room by: Alexander Elder M.D.



Quoting MuddBuddha
Well, it depends.

If you wanted to play a break of the wedge, you could enter sooner but you're risk would be higher and your lots would need to reflect it. You could possibly get in around 3700-3750.

If you waited to play a strike of the channel itself, then you would be in a safer trade with a normal RRR, which would put in that 38XX range.

These channel and wedge trades are explained in great detail in Alexander Whats-His-Name's book. I believe it's "Welcome to My Trading Room"
  • #195,251
  • Feb 12, 2010 10:41am Feb 12, 2010 10:41am
Quoting SkyzerFX
Chinese currency was pegged all the time in 2007 too, when Dollar drop below 1.60.

Has nothing to do with this. Every possible trader and Big ones are Short

EUR, which means there is about 15 people in the same boat 14 of which

sitting on the 1 side, it's about to turn them over.. Any positive news and

EU to 1.41-1.42 in 1-2 sessions non-stop.
shit where are you gonna get good news? all the good news is comming out the u.s. they still have not fixed dabia,,, you had bad news from the germans today.. i bet my left one france has been cooking ths books.. they were crying as euro went up in 2008.. you heard it here first.. france cooked books.. any way it aint on my charts.. and i trade by them.. i risk little but i have more then doubled account since dec.. *s*
those who can, do. those who cant, talk about those who can
  • #195,252
  • Feb 12, 2010 10:42am Feb 12, 2010 10:42am
Quoting Gardener
Come into My Trading Room by: Alexander Elder M.D.
YES! Thanks.

Amazon
Capital Preservation is key to long term wealth accumulation
  • #195,253
  • Feb 12, 2010 10:50am Feb 12, 2010 10:50am
Quoting SkyzerFX
Chinese currency was pegged all the time in 2007 too, when Dollar drop below 1.60.

Has nothing to do with this. Every possible trader and Big ones are Short

EUR, which means there is about 15 people in the same boat 14 of which

sitting on the 1 side, it's about to turn them over.. Any positive news and

EU to 1.41-1.42 in 1-2 sessions non-stop.
here man... i was here when goldmen was much higher..#168244
those who can, do. those who cant, talk about those who can
  • #195,254
  • Feb 12, 2010 11:00am Feb 12, 2010 11:00am
Quoting gatorinla
here man... i was here when goldmen was much higher..#168244
ps.. since this pair cant get it up i doubt any large retrace is in the cards st..2650 was just a tiny flow measurment. if you want to get it up you need more viagra..
those who can, do. those who cant, talk about those who can
  • #195,255
  • Feb 12, 2010 11:02am Feb 12, 2010 11:02am
Bull not failing nor running at the top & if continues as such will fall at lower level. waiting for long time & already slleeping time.Perhaps going to close at S1 & go.
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #195,256
  • Feb 12, 2010 11:14am Feb 12, 2010 11:14am
Quoting MuddBuddha
Seriously, I know I've said it previously in this thread, but if you haven't read DarkStars post, you need to.

The market makes so much more sense when you understand his post.

HERE

There's a reason Merlin made it a permanent post.
Great post. Thanks for bringing it to attention.
  • #195,257
  • Feb 12, 2010 11:16am Feb 12, 2010 11:16am
Good morning guys. I kept up on the thread throughout the night last night as my alarms went off but didn't post. A couple of my shorts did hit TP @ 3590 last night. I'm gonna just leave a couple open with some good size SL's along with a GU short and a couple CHF longs.
  • #195,258
  • Feb 12, 2010 11:18am Feb 12, 2010 11:18am
market stall... see you guys next week... hoping for more downside.
Be a sniper not a jumper
  • #195,259
  • Feb 12, 2010 11:24am Feb 12, 2010 11:24am
Quoting sierra
market stall... see you guys next week... hoping for more downside.
Profit taking & bull is going take over , gold already have the spike .pending shorts at many important levels up in eu & gold & go.
happy trading to all & weekend.
good night .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #195,260
  • Feb 12, 2010 11:41am Feb 12, 2010 11:41am
Quoting Gld
on the 30m chart we had a break down from the 26sma for 150 pips...if it returns to the 26sma this completes a c&h then what......possibly a return to the 1.3680 area ? time will tell, just something i'm watching
didn't quite play all the way out, but i did manage to scalp a few !
hang on to your bread......unless you want toast
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