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  • #20,241
  • Mar 29, 2010 8:17am Mar 29, 2010 8:17am
Quoting MarcVUM
Good close for the hourly!
Ohh, if she even closes above the TL and weekly R1 you had better close your short positions IMO!
yo marc your H4 chart is turning out beautifully, the BB touched and the bounce off the 40ma

though my testing short got stopped out because of that spike. all those volume spikes are ugly as well. and now it's coming back down... (almost as if someone trying to keep her up)

also i find the correlation of aud/usd to other pairs is not that high anymore

not feeling too comfortable now so i will watch from the side
  • #20,242
  • Mar 29, 2010 8:23am Mar 29, 2010 8:23am
Quoting OvT
yo marc your H4 chart is turning out beautifully, the BB touched and the bounce off the 40ma

though my testing short got stopped out because of that spike. all those volume spikes are ugly as well. and now it's coming back down... (almost as if someone trying to keep her up)

also i find the correlation of aud/usd to other pairs is not that high anymore

not feeling too comfortable now so i will watch from the side
Well, she might touch the weekly R1 (9157)again. My TL is at 9144 right now and my 200ma on the H1 is at 9147. Like I said, too much too fast. Just waiting for that special candle to tell me down.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,243
  • Mar 29, 2010 8:29am Mar 29, 2010 8:29am
Oh dear
got stop out again.

maybe i ll buy this time.
seems like the forex god is against me.

lost close to 100 pips oredi.

I am now buying at .9148 tp at .9200
SL at .9120
lets hope this works out for me.
  • #20,244
  • Mar 29, 2010 8:30am Mar 29, 2010 8:30am
Quoting chinaman
Oh dear
got stop out again.

maybe i ll buy this time.
seems like the forex god is against me.

lost close to 100 pips oredi.

I am now buying at .9148 tp at .9200
SL at .9120
lets hope this works out for me.

by the way guys
is it against the rules to publish
personal entry point?
pls stop me if it is
dont wanna get into trouble
  • #20,245
  • Mar 29, 2010 8:32am Mar 29, 2010 8:32am
Quoting chinaman
by the way guys
is it against the rules to publish
personal entry point?
pls stop me if it is
dont wanna get into trouble
No it is not but What Did You Just Do??? We are sitting at Weekly R1. Get out at B/E if you can.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,246
  • Mar 29, 2010 8:38am Mar 29, 2010 8:38am
Quoting chinaman
Oh dear
got stop out again.

maybe i ll buy this time.
seems like the forex god is against me.

lost close to 100 pips oredi.

I am now buying at .9148 tp at .9200
SL at .9120
lets hope this works out for me.
You realize there's a pretty good chance that it's going to start falling again, right?

Right now, the market is still undecided as to where it wants to go; your long is essentially a bet that the market will buck the trend it has been in since Mar 18.

It's your call, but I would sit this one out if I were you; the only reason I'm here is because I still have an open position and I have some faith in the market regaining the downward trend eventually.

EDIT: What Marc said - get out at BE while you can. This is a pretty iffy long trade to take - not impossible, but the odds are against you here.
  • #20,247
  • Mar 29, 2010 8:40am Mar 29, 2010 8:40am
Quoting George C
You realize there's a pretty good chance that it's going to start falling again, right?

Right now, the market is still undecided as to where it wants to go; your long is essentially a bet that the market will buck the trend it has been in since Mar 18.

It's your call, but I would sit this one out if I were you; the only reason I'm here is because I still have an open position and I have some faith in the market regaining the downward trend eventually.

EDIT: What Marc said - get out at BE while you can. This is a pretty iffy long trade to take...

George, I'm gathering that you have an existing short position?
Where do you think it will fall to overnight?
  • #20,248
  • Mar 29, 2010 8:42am Mar 29, 2010 8:42am
Quoting George C
You realize there's a pretty good chance that it's going to start falling again, right?

Right now, the market is still undecided as to where it wants to go; your long is essentially a bet that the market will buck the trend it has been in since Mar 18.

It's your call, but I would sit this one out if I were you; the only reason I'm here is because I still have an open position and I have some faith in the market regaining the downward trend eventually.

EDIT: What Marc said - get out at BE while you can. This is a pretty iffy long trade to take...
Thanks for backing me up. Watch your 15min candle!!!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,249
  • Mar 29, 2010 8:45am Mar 29, 2010 8:45am
Quoting George C
You realize there's a pretty good chance that it's going to start falling again, right?

Right now, the market is still undecided as to where it wants to go; your long is essentially a bet that the market will buck the trend it has been in since Mar 18.

It's your call, but I would sit this one out if I were you; the only reason I'm here is because I still have an open position and I have some faith in the market regaining the downward trend eventually.

EDIT: What Marc said - get out at BE while you can. This is a pretty iffy long trade to take...
agreed, the market has moved what, almost 120 pips today, in only 1 direction

i really don't like the way she is behaving now, careful especially short term positions, man those spikes

although we're in a major downtrend (are we? lol) AUD potential yet another interest hike, and Greece safety net, and order book cleaning (not sure of this effect) is making me uneasy on going long term short as well
  • #20,250
  • Mar 29, 2010 8:46am Mar 29, 2010 8:46am
Quoting MarcVUM
Thanks for backing me up. Watch your 15min candle!!!
what is it, im seeing the bounce between 5ma and BB
btw i still got no short signal whatsoever
  • #20,251
  • Mar 29, 2010 8:46am Mar 29, 2010 8:46am
buystop 9163 TP 10 pips SL not yet decide
hoping for 10 pips easy breakout profit
  • #20,252
  • Mar 29, 2010 8:48am Mar 29, 2010 8:48am
well I put my resistance at .9155 more or less.
So if it hold it's fine - if not I'll buy at .9169.
That's gonna be a big dd for my sells
anyhow let's see what happens..
  • #20,253
  • Mar 29, 2010 8:48am Mar 29, 2010 8:48am
Quoting john123x
buystop 9163 TP 10 pips SL not yet decide
hoping for 10 pips easy breakout profit
bold move there! nice setup too
  • #20,254
  • Mar 29, 2010 8:49am Mar 29, 2010 8:49am
Quoting stwk81
George, I'm gathering that you have an existing short position?
Where do you think it will fall to overnight?
Yep, at .9119, so I'm in one hell of a drawdown. Luckily, the position itself isn't that big so I can take the existing DD without breaking MM rules, but I'm one angry bear at the moment.

Assuming that it does fall at all, I'd expect a return to 0.9080 today and an eventual retest of the .89xx support; however, as we're now trading at the TL, I can't say I'm 100% confidence that a bearish reversal will occur at this point. For me, this is increasingly becoming an exercise in steeling myself, controlling my emotions and actually executing the trade with respect to its original parameters (as in, no bailing before the TL is definitely breached).
  • #20,255
  • Mar 29, 2010 8:52am Mar 29, 2010 8:52am
Quoting OvT
what is it, im seeing the bounce between 5ma and BB
btw i still got no short signal whatsoever
If I'm wrong and she breaks through 9157 I will wait until she comes back to test it before going long. However, she is struggling right now. Also go to your H4 chart and look at the SMI. I just can't buy here.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,256
  • Mar 29, 2010 8:58am Mar 29, 2010 8:58am
Quoting MarcVUM
If I'm wrong and she breaks through 9157 I will wait until she comes back to test it before going long. However, she is struggling right now. Also go to your H4 chart and look at the SMI. I just can't buy here.
exactly, all TFs SMIs are showing no short signal at all
it's pretty nerve wrecking although i have no positions now
seeing her being pinched with no where to go

also notice correlation for other pair
gold, e/u, g/u, u/j, u/c all haven't moved much from the market open position today

but a/u (and n/u) has moved way out(up) of the original market open position

that's a very collected stance you have there, i'll watch alongside as to how it's gonna turn out
  • #20,257
  • Mar 29, 2010 8:59am Mar 29, 2010 8:59am
H1... those are what I call "long wickie dickie's"!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,258
  • Mar 29, 2010 9:01am Mar 29, 2010 9:01am
Quoting MarcVUM
H1... those are what I call "long wickie dickie's"!
rofl, now that you mentioned it, H1 is filled with all these
  • #20,259
  • Mar 29, 2010 9:01am Mar 29, 2010 9:01am
Quoting George C
Yep, at .9119, so I'm in one hell of a drawdown. Luckily, the position itself isn't that big so I can take the existing DD without breaking MM rules, but I'm one angry bear at the moment.

Assuming that it does fall at all, I'd expect a return to 0.9080 today and an eventual retest of the .89xx support; however, as we're now trading at the TL, I can't say I'm 100% confidence that a bearish reversal will occur at this point. For me, this is increasingly becoming an exercise in steeling myself, controlling my emotions and actually executing the trade...
That is a very bearish view...I'm quite new to all these terminologies, can I ask what DD is and MM rule?
  • #20,260
  • Mar 29, 2010 9:01am Mar 29, 2010 9:01am
Another hour, another bull-bodied shooting star - go on, reverse, damn you...

Respect the long wick!
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