Judging by the consolidation and where it is I imagine a lot of people have sell orders waiting at 121.50. The price might fall just now or shoot up to 122.30 to take out my stopsChart:
Attachment
- #1,462
- Mar 1, 2010 8:50am Mar 1, 2010 8:50am
- | Commercial User | Joined May 2009 | 5,751 Posts
can u please explain reason for EU long?
1) In your chart u show macd cross over the trigger line
2) Yesterday's candle close above the doji
My question is even though yestersay's candle close above the doji what if today's candle close below the doji?
Also just above wehre we are right now on EU there is strong resistance around the 1.3640 area.
I am interested in understanding the reason for the long to better understand your strategy
thx
Cheers
"Buy on fear, sell on greed !!!
Don't hedge. This only give you more headache because you have to watch the chart to exit your hedge at the right moment and then have to make another trade in the original direction just to win! What if this 2nd trade goes against you again?? Another hedge and on and on!!!
20 pip SL is too tight for this pairs or any pairs for that matter. I used to have 30 pips SL on the G/U and same thing happen. I realize that I trade higher lots than what my appetite can muster. So I trade few lots with larger SL and bigger TP.......I don't see my SL got hit that often now. Either BE or profit most of the time. I still have SL hit but rarely cause I would exit trade after 30 or 40 pips manually
20 pip SL is too tight for this pairs or any pairs for that matter. I used to have 30 pips SL on the G/U and same thing happen. I realize that I trade higher lots than what my appetite can muster. So I trade few lots with larger SL and bigger TP.......I don't see my SL got hit that often now. Either BE or profit most of the time. I still have SL hit but rarely cause I would exit trade after 30 or 40 pips manually
i prefer hedging..really it is much better for me now
but sure i am trying to learn how to put suitable sl
- #1,464
- Mar 1, 2010 9:31am Mar 1, 2010 9:31am
- | Joined Aug 2009 | Status: Trader | 2,585 Posts
I think theyre coming after that long 
Annoying Precision
- #1,465
- Mar 1, 2010 9:36am Mar 1, 2010 9:36am
- | Joined Aug 2009 | Status: Trader | 2,585 Posts
Annoying Precision
I think theyre coming after that long
I am sure Petar had very valid reasons for taking the trade but personally for me I didnt have any confirmtion of an upside move on technicals, across all the pairs usd is getting stronger since last week. Eur is already in trouble these are fundamnetal reasons which suggest EU will go down.
Important thing is we are all different and have different views whats imp is to take a trade in accordance with your own analysis as Petar said
- #1,467
- Mar 1, 2010 10:04am Mar 1, 2010 10:04am
- | Joined Aug 2009 | Status: Trader | 2,585 Posts
Annoying Precision
- #1,468
- Mar 1, 2010 10:16am Mar 1, 2010 10:16am
- | Joined Aug 2009 | Status: Trader | 2,585 Posts
Annoying Precision
- #1,470
- Mar 1, 2010 10:25am Mar 1, 2010 10:25am
- | Commercial User | Joined May 2009 | 5,751 Posts
I am sure Petar had very valid reasons for taking the trade but personally for me I didnt have any confirmtion of an upside move on technicals, across all the pairs usd is getting stronger since last week. Eur is already in trouble these are fundamnetal reasons which suggest EU will go down.
Important thing is we are all different and have different views whats imp is to take a trade in accordance with your own analysis as Petar said
Cheers
"Buy on fear, sell on greed !!!
Yep as i said for me EURJPY is Flat and EURUSD i have buy we will see,ERUSD made a new pin on daily and triple bot...Hope this can go up...Eurjpy is for me more bulish than bearish but main is flat...
Cheers
When I look at the chart I see strong resistance at 1.3585, I may consider taking short EU at this level.
I am able to understand your analysis in EJ I also feel it may reverse but better not to take position for now.
- #1,473
- Mar 1, 2010 10:41am Mar 1, 2010 10:41am
i prefer hedging..really it is much better for me now
but sure i am trying to learn how to put suitable sl
Believe me, this is from experience. Right entry and exit, is the best way.
Yep as i said for me EURJPY is Flat and EURUSD i have buy we will see,ERUSD made a new pin on daily and triple bot...Hope this can go up...Eurjpy is for me more bulish than bearish but main is flat...
Cheers
I agree.
I just keep on seeing little tidbits about a Greek aid package getting put in place, and there should be a short squeeze up if this pair makes a meaningful move upwards.
Feels like we're bouncing around support around 120.4
- #1,480
- Mar 1, 2010 12:17pm Mar 1, 2010 12:17pm
- | Joined Aug 2009 | Status: Trader | 2,585 Posts
Thanks for reminding me to continue doing what I do. When Petar is kind enough to post an analysis and it makes more sense then mine or he points out something that I failed to see or comprehend I'm obliged to switch gears or enact gears. I was just joking around when I made that comment earlier in case you didnt quite understand .
.i respect ur analysis i was just trying to point out to erikte its best to trade in accordance with our own analysis. It appears EU has retraced and is now back up.
When I look at the chart I see strong resistance at 1.3585, I may consider taking short EU at this level.
I am able to understand your analysis in EJ I also feel it may reverse but better not to take position for now.
Annoying Precision