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  • #1,481
  • Mar 1, 2010 12:19pm Mar 1, 2010 12:19pm
Quoting fugly
Hi Seapip,

This is somethign i experienced as well, just like you say. When i started out in fx almost for a year i used very tight stops (cut your losses short .....) and most of the time i would get stopped. It actually took me a whole year to finally decide it is better to cut your losses short by incorporating a wider stop with smaller lots.

Works much better.
-

I think I am starting to expand my time frame as well as bigger stops for a more reasonable approach than panicking all the time-

After all it has to stop going up or down at some point!
  • #1,482
  • Mar 1, 2010 2:01pm Mar 1, 2010 2:01pm
over bought in all TF's except 1H showing over sold... suggestions on S/R lines so far? does it look like it can hit 121.90? or back down to 120.50?

thoughts please anyone
  • #1,483
  • Mar 1, 2010 2:36pm Mar 1, 2010 2:36pm
EJ may reverse, its painted a nice looking pin bar on my broker feed, indicators also show bullish momentum. May only reach 121.57 and then we will have to evaluate for further upside movement after that because the euro is very weak
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  • #1,484
  • Mar 1, 2010 3:19pm Mar 1, 2010 3:19pm
I just wanted to share my insight and what i believe is going to happen with eur-usd and eur-jpy I am going to short Eur Usd 1.356 I think E-U was in a consolidating Triangle and now will break Lower to the 1.33 area ABC-XYZ Which will bring wave 1 to the downside and im holding onto my eur jpy short of 121.5 to the 119.area What you ladies and gentlemen think?!
"Pippin aint easy"
  • #1,485
  • Mar 1, 2010 3:30pm Mar 1, 2010 3:30pm
Quoting Buitragojl
I just wanted to share my insight and what i believe is going to happen with eur-usd and eur-jpy I am going to short Eur Usd 1.356 I think E-U was in a consolidating Triangle and now will break Lower to the 1.33 area ABC-XYZ Which will bring wave 1 to the downside and im holding onto my eur jpy short of 121.5 to the 119.area What you ladies and gentlemen think?!
I don't count waves or anything like that. I'm just a trend trader, but yeah... the trend is down and I've been short both of these guys for some time now. EURUSD target is a but cloudy but EURJPY target would be in the 114 area for me.
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,486
  • Mar 1, 2010 3:36pm Mar 1, 2010 3:36pm
Lol I like that Quote! Yea i hear ya what ever works my man! So what makes you believe that eur jpy will go that low? that seems a lil steep... but from your comment i would guess your a longer term trader. Im intrested so i can put your idea in my notes thanks Alot!
"Pippin aint easy"
  • #1,487
  • Mar 1, 2010 3:44pm Mar 1, 2010 3:44pm
I like to ask is this not a sind that the eur/jpy will go further down?


On the weekly chart i closes below the 61.8 level.

Would this not target 114 but i have my TP at 119.00

I hoop some one can explain more .

thanks .

Greet you ,

Yoenes
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  • #1,488
  • Mar 1, 2010 4:19pm Mar 1, 2010 4:19pm
Quoting Yoenes
I like to ask is this not a sind that the eur/jpy will go further down?


On the weekly chart i closes below the 61.8 level.

Would this not target 114 but i have my TP at 119.00

I hoop some one can explain more .

thanks .

Greet you ,

Yoenes
Uf my friend i think sell is over for EUR pairs...I will post why...
"Buy on fear, sell on greed !!!
  • #1,489
  • Mar 1, 2010 4:21pm Mar 1, 2010 4:21pm
well i've closed my short on the EU for 30 pips profit and have now joined the long gang, next target 1.3670, if it gets there will then re-evaluate the situation, if it doesn't will be stopped out.

I agree sell is over, good call Petar you saw it well ahead of me I had some hope of short on EU but not any more

lets see what happens
  • #1,490
  • Mar 1, 2010 4:25pm Mar 1, 2010 4:25pm
Quoting Buitragojl
Lol I like that Quote! Yea i hear ya what ever works my man! So what makes you believe that eur jpy will go that low? that seems a lil steep... but from your comment i would guess your a longer term trader. Im intrested so i can put your idea in my notes thanks Alot!
Yes, typical hold time for my trades can be anywhere from a couple of days to a month.

The target is based on a fib target + historical support. Spike bases formed in October 08 and January 09 proved to be a rejection point for a steep downtrend + a retest. I would hope for completion of the trade the 2nd or 3rd week of March.

Now that is the basis for my targets, but will we get there? Who ever knows? I'm targeting the 121's for the GBPJPY and I just read (on here) that it WILL not go lower than 125. I just trade my plan. Too much conflicting information on here confuses people... probably to include this post of mine
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,491
  • Mar 1, 2010 4:26pm Mar 1, 2010 4:26pm
Quoting Yoenes

Would this not target 114 but i have my TP at 119.00
Yet you have about the same exact position for a support line drawn on your chart as I do. Good job on that, but why if you have support below 114 are you targeting 119?
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,492
  • Mar 1, 2010 4:33pm Mar 1, 2010 4:33pm
As i posted i have 2 long positions from 1.3520 on EURUSD and expext big UP move also that mean EURJPY will go UP i think maybe to the 123,124 ....



This is my chart on EURUSD and i waiting to broke lines and go up but we will see...



This is the chart >
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"Buy on fear, sell on greed !!!
  • #1,493
  • Mar 1, 2010 4:35pm Mar 1, 2010 4:35pm
Quoting profxtrader
Yet you have about the same exact position for a support line drawn on your chart as I do. Good job on that, but why if you have support below 114 are you targeting 119?
Fear? lol
  • #1,494
  • Mar 1, 2010 4:42pm Mar 1, 2010 4:42pm
Congratulation on your column you have page 100 !!!
  • #1,495
  • Mar 1, 2010 4:43pm Mar 1, 2010 4:43pm
I would guess hes a shorter term trader like me i tend to count waves and then reverse at 1hr chart fibs much like yourself probably get on a correction wave higher...........ur right it gets confusing cause everyone seems smart in these threads and it makes you wonder about your decision but all in all i think its healthy ! if i make a bad choice and someone else explained somethin to me im more likely to take in thier insight a lil more. Thanks guys !
"Pippin aint easy"
  • #1,496
  • Mar 1, 2010 4:46pm Mar 1, 2010 4:46pm
Quoting Hazarder
Congratulation on your column you have page 100 !!!
Tnx my friend
"Buy on fear, sell on greed !!!
  • #1,497
  • Mar 1, 2010 4:47pm Mar 1, 2010 4:47pm
Quoting profxtrader
Yet you have about the same exact position for a support line drawn on your chart as I do. Good job on that, but why if you have support below 114 are you targeting 119?
I will look wen the 119 is reached wich candle stick is formed wen its is an contiuation that i will go further down but now i like firt the 119.

thanks for the replay .

and any comment or advice pleace i m new thats just my analysis .

Greet you,
Yoenes
  • #1,498
  • Mar 1, 2010 4:52pm Mar 1, 2010 4:52pm
Hello guys i also took AUDUSD buy at 0.9010 going for min 200 pips on this trade and expect good news to push up AUD ...





This is my H4 and D1 chart >


Cheers
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"Buy on fear, sell on greed !!!
  • #1,499
  • Mar 1, 2010 4:58pm Mar 1, 2010 4:58pm
For everyone who wants to trade EURJPY and EURUSD i made good Renko strategy you can choice tehnique wich you want to use but this is how chart look like


IF you like you can learn form my thread (see signature)


This is my new strategy for you guys...I dont trade small trades becouse i dont have time but this is for you...
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"Buy on fear, sell on greed !!!
  • #1,500
  • Edited 7:58pm Mar 1, 2010 5:00pm | Edited 7:58pm
Japanese fiscal year end March 31st as well. Should make for some volatility towards end of month as funds get repatriated.


In short term though, I think we see a rebound in E/J to resistance at 122.2-122.4



Thoughts?

_________
My chart on E/U...pending breakout to the upside?
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