1.3550... Already now. Phew.
And the markets haven't even open yet.
- #223,421
- Apr 11, 2010 1:53pm Apr 11, 2010 1:53pm
- Joined Apr 2007 | Status: Evil Kraut | 2,559 Posts
And the markets haven't even open yet.
- #223,422
- Apr 11, 2010 2:00pm Apr 11, 2010 2:00pm
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
hmm, i was looking at my long term charts today, and find something odd... so im posting.
most should know, i was always a bear this time,
tho i did have some scalping long trades.
and tho i trade in 1 min 5 min charts and i do have some holding trades.
i do scalping and position trades.
but this time round, i MAYBE switching from bear to bull. i'm aint exactly sure yet, reason being usually when i spot a reversal, i need some pa after that to confirm. thus confirmation not reach yet.
previously i was thinking 31-32 might be a possible bottoming/reversal for eu depending on conditions as i've posted quite some time back.
what i can confirm now is, definitely a side market with a range of few hundred pips.
whether it will still hit my target of 31/32 will depends on how much it retraces upwards,
and how strong is the rejection it faces.
critically, 3580-mid36 (maybe also 3550) is an important region for determining whether this is a bull or bear.
ideally i would wanna short there.
but a confirmation of break upwards there,
would indeed increase the possibility that now is the bottoming process.
altho, there's another resistance at 38/39
a safe rejection of price there (3580-mid36) will keep the downtrend intact. however 33/32/31 is a very important region.
price might not reach my target of 31, as in it all depends on the following pa. This 1 month will be important...
a safe rejection on resistance, should keep bear intact, and maintain momentum,
thus price might break my target of 31. if it does, this is going so damn low.
well, my plan now is to scalp mini longs,
and start building long term holding long trades when price gets low enough.
may also consider adding long term short if 36+ proves to be safe,
then i might close my long term long.
will monitor my shorts @ 37/38/39 and close based on situation.
shorts @ 1.4+ will be determine by resistance at 38+, might be closing them if 38+ is weak.
gd luck guys.
most should know, i was always a bear this time,
tho i did have some scalping long trades.
and tho i trade in 1 min 5 min charts and i do have some holding trades.
i do scalping and position trades.
but this time round, i MAYBE switching from bear to bull. i'm aint exactly sure yet, reason being usually when i spot a reversal, i need some pa after that to confirm. thus confirmation not reach yet.
previously i was thinking 31-32 might be a possible bottoming/reversal for eu depending on conditions as i've posted quite some time back.
what i can confirm now is, definitely a side market with a range of few hundred pips.
whether it will still hit my target of 31/32 will depends on how much it retraces upwards,
and how strong is the rejection it faces.
critically, 3580-mid36 (maybe also 3550) is an important region for determining whether this is a bull or bear.
ideally i would wanna short there.
but a confirmation of break upwards there,
would indeed increase the possibility that now is the bottoming process.
altho, there's another resistance at 38/39
a safe rejection of price there (3580-mid36) will keep the downtrend intact. however 33/32/31 is a very important region.
price might not reach my target of 31, as in it all depends on the following pa. This 1 month will be important...
a safe rejection on resistance, should keep bear intact, and maintain momentum,
thus price might break my target of 31. if it does, this is going so damn low.
well, my plan now is to scalp mini longs,
and start building long term holding long trades when price gets low enough.
may also consider adding long term short if 36+ proves to be safe,
then i might close my long term long.
will monitor my shorts @ 37/38/39 and close based on situation.
shorts @ 1.4+ will be determine by resistance at 38+, might be closing them if 38+ is weak.
gd luck guys.
- #223,424
- Apr 11, 2010 2:05pm Apr 11, 2010 2:05pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #223,425
- Apr 11, 2010 2:09pm Apr 11, 2010 2:09pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #223,427
- Apr 11, 2010 2:14pm Apr 11, 2010 2:14pm
- | Commercial User | Joined Feb 2010 | 8,031 Posts
Correction 1.3566!
Founder of Sutherland Wave Principle
- #223,428
- Apr 11, 2010 2:14pm Apr 11, 2010 2:14pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #223,431
- Apr 11, 2010 2:16pm Apr 11, 2010 2:16pm
- Joined Nov 2009 | Status: Thx G, Malc, D55, Fontu & Hatch | 3,196 Posts
- #223,433
- Apr 11, 2010 2:20pm Apr 11, 2010 2:20pm
- | Joined Feb 2010 | Status: It pays to be conservative | 1,001 Posts
Prices oscillate, trends persist. Trend is your friend.
- #223,434
- Apr 11, 2010 2:24pm Apr 11, 2010 2:24pm
- Joined Jul 2007 | Status: Trader | 17,796 Posts
1.45 is just not likely at all, it's above 50% of this whole move (1.418), do you really believe that a down trend will finish just like that without any further selling? The only way that may happen is if USD gets trashed on a big scale.
So it's 1.4000 one week .... 1.2500 the other week
COT: The precious data ignored
- #223,435
- Apr 11, 2010 2:25pm Apr 11, 2010 2:25pm
- Joined Jan 2010 | Status: Primary Technical Trader | 8,593 Posts
Why pay, when you can use Simulator I posted for free and right on your
MT4 without any additional software.
Thanks for sharing Skyzer.
The simulator is a great back testing tool.
- #223,436
- Apr 11, 2010 2:40pm Apr 11, 2010 2:40pm
- | Joined Feb 2010 | Status: It pays to be conservative | 1,001 Posts
Well you know how it works...when people sees 200 pips move up in a day they are starting to think it'll go up another 1000 pips very soon and when it goes 200 pips down the other day they say it's gonna drop 1000 pips
So it's 1.4000 one week .... 1.2500 the other week
Also, 1.3670-1.3680 is a major monthly resistance zone, also below 1.3818
Prices oscillate, trends persist. Trend is your friend.
- #223,437
- Apr 11, 2010 2:42pm Apr 11, 2010 2:42pm
- Joined Nov 2009 | Status: Thx G, Malc, D55, Fontu & Hatch | 3,196 Posts
Well you know how it works...when people sees 200 pips move up in a day they are starting to think it'll go up another 1000 pips very soon and when it goes 200 pips down the other day they say it's gonna drop 1000 pips
So it's 1.4000 one week .... 1.2500 the other week
I won't hold trades longer than a day or so unless i do catch some huge move. i'll watch the pivots and trade what I see. like I said, today I see an up day, i'll wait for london open ish time and look for any entry. medium term, we CAN go to 1.40 and when/if we get there...we can go higher. check the weekly, i know you already do but if we get up to 1.40-1.42 area...how far off is 1.45 really? You said yourself we jumped 200 pips one day...gator and a bunch have been calling for a possible 500 pip day, what makes you so SURE it's down and not up bfore down?