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  • #223,641
  • Apr 11, 2010 6:44pm Apr 11, 2010 6:44pm
Quoting akhtergroup
Going short $1.3664. Target 1.35875, SL=5%

ok lets look at something

you are selling into a 400 pip up move with little retrace just because.

We hit 1.3670 for 2nd time in asia this time no sellers have arrived.

I would suggest a lesser stop loss .... tough to give 5% of your account away for nothing.

If anything buy dips .. the daily has changed , we dipped under support only to have buyers take her back up thru 1.3500 . 1,3600 is major support and as mentioned i added longs on dip 1.3610 , taken that off ( intraday trades ).

We are above Fridays upper value area and the pair is still being bought on dips on a 10 min , so they consider eu value even at this price.

I hate to see a trader give away 5% for nothing,

Indies will not work in this crazy price action , just look at reactions to dips , that will tell you buy / sell pressure
Blogging daily now at www.volume.zone
  • #223,642
  • Apr 11, 2010 6:45pm Apr 11, 2010 6:45pm
Quoting SkyzerFX
I'll give it 1-3 days and you will see it in 1.34 area... Just short term hype

and nothing else..

Tomorrow watch for the other BS, like Spain, Portugal.. Those guys are making money..

Don't forget DOW at 11000 right now..
Possible. Everything is possible right now. So, I just watch and keep away from longs or shorts until the dust settled. Fortunately I closed all my trade on Friday with a small profit. I can wait and smile.

However. The downtrend is over right now. Just a fact. That's why I look for pullbacks later and buy opportunities. As long as we do not enter another big dt. Greece is history and priced in. A good one to you and everybody.

Good nite!
Sometimes I lose. Sometimes the others win.
  • #223,643
  • Apr 11, 2010 6:45pm Apr 11, 2010 6:45pm
325 members on here is unusually high for this time. Seems like everyone is searching for an answer on this big gap.
  • #223,644
  • Apr 11, 2010 6:46pm Apr 11, 2010 6:46pm
Quoting malcolmb14
Is this 400 pip move in 2 days a surprise ? No not really.
Longs have been building for weeks.
Yes I was buying as well at 1.32.. And now you can make a Photo of

this price, cause you ain't going to see it tomorrow..

Heck, on the other hands Dollar tanking makes my Metals go up

So I win either way...
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  • #223,645
  • Apr 11, 2010 6:47pm Apr 11, 2010 6:47pm
well...agree to disagree. You rely on your analysis i rely on mine. I have no doubt you will make pips where ever the market goes.

As for rsx...didn't find that indi instantly (i know i have it) so i took a look at the rsi instead. What do i see...On 4H chart rsi overbought (which i don't give a crap about) AND divergence along the prevailing trend. Now you must admit that those divergences are far stronger than against the trend divergences...plus i see nothing bullish on the weekly rsi. However i don't use any indicators for quite some time now just used it now to give an example.

About big players and their behaviour. You know i used to believe that far more than i do now. Markets can be manipulated intraday but not longer term. Big players DO lose and and they are NOT in control. They just happen to be on the right side long term (usually). Big players ARE SHORT....HEAVILY...so any upmove IMHO is constructed upon those stops that would get triggered but i doubt that any investment bank are hitting SPECULATIVE longs any time soon. As far as the "mark the market up for a bargain"...well, again, short term yes, long term NO. We've seen enough evidence in trending markets (take the EU for example starting from 2007 somewhere) where price shot up 1600 points while having largest retracement of only 200 smth pips. And man, i can only imagine the frustration back then when a lot of traders desperately waited for the correction that never came.

Well, just my 2 cents,

take care.

time to go to bed, it's almost 3 a.m.


Quoting malcolmb14
Lumesh thanks for nice words about short term stuff

Only time will tell , but the same reason I trade short term are there on weekly charts on the futures.


1) ultra hihg volume doji...
  • #223,646
  • Apr 11, 2010 6:48pm Apr 11, 2010 6:48pm
Here come the Japanese to decide the matter in 13 minutes..
  • #223,647
  • Apr 11, 2010 6:50pm Apr 11, 2010 6:50pm
Quoting gatorinla
fitch may no choice but to lower it to junk anyway. if it wasnt for germany they would they would go to junk. its funny, out of the entire ez germany is the only ones with the funds. NOT! germany will sell bunds also to pay for bailout. a classic shell game.. its still bad debt for the bag holder. in this case germany.. it makes the strongest weaker.. all this without calateral.. pt had a name for them
Yes gator, exactly. If you buy a bad debt, that is just what it is...a bad debt. Even the best spin doctors cannot convince the majority otherwise. This bad debt will be a handbrake to Germany, and given the refusal of Germany to bail out Greece since mid Feb, what has changed to entice Germany to buy the bad debt?

Sometimes the dead wood has to chopped out in order to save the entire tree....perhaps even the whole forest.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #223,648
  • Apr 11, 2010 6:51pm Apr 11, 2010 6:51pm
Goldman Sucks got screwed... Ohh my.. They should average down,

idiots..
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  • #223,649
  • Apr 11, 2010 6:52pm Apr 11, 2010 6:52pm
Maybe we aren't looking at it from the right angle, we keep looking at EUR charts, but if you look at monthly USD chart, then 80.80 sticks out quite a bit, it's been:

support in 1995
support in 2004
resistance in 2007
support in 2009
resistance in 2009

Last week it closed 80.8

Food for thought
Prices oscillate, trends persist. Trend is your friend.
  • #223,650
  • Apr 11, 2010 6:54pm Apr 11, 2010 6:54pm
My guess it it will go up. But most are right, I expect to see a short retrace, maybe about 100 pips or so then resume an uptrend. But we will see Either way, downtrend is over as far as i'm concerned. It broke so many trendlines, resistances and necklines with that gap.

I'm in a long position now with extra extra wide stops to accomodate the possible retrace. But if it doesn't, I'm going to be locking in pips. Will be looking to add on any chance that I have. Next target for me is 1.3780
  • #223,651
  • Apr 11, 2010 6:56pm Apr 11, 2010 6:56pm
Quoting TheLastCoke
Let me tell you a story in chronological order:

#452 #453 #467 #473 #475 #477...
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  • #223,652
  • Apr 11, 2010 6:57pm Apr 11, 2010 6:57pm
Any chance the Asian traders want to close this gap? I've never seen a gap this large before so I'm in unknown territory.
  • #223,653
  • Apr 11, 2010 6:59pm Apr 11, 2010 6:59pm
1 lot
Si vis pacem, para bellum.
  • #223,654
  • Apr 11, 2010 6:59pm Apr 11, 2010 6:59pm
Quoting Leche Mocha
Any chance the Asian traders want to close this gap? I've never seen a gap this large before so I'm in unknown territory.
How long have you been dating?

With some more life experience it's inevitable.

Mike
  • #223,655
  • Apr 11, 2010 7:00pm Apr 11, 2010 7:00pm
Hello Guys... Yes it's true that many resistances and trendlines are broken, but do you really believe that problems in EURO ZOne are resolved?? And The GAp will not be close?!? anything strange here, no??
"Por mais fundo que seja o buraco, pelo menos esse não tem terra em cima"
  • #223,656
  • Apr 11, 2010 7:01pm Apr 11, 2010 7:01pm
Anyway.

It's a short video.

Yes... I shorted this.

Yes... the gap will close.

No... Greece is not saved.

Inserted Video
  • #223,657
  • Apr 11, 2010 7:03pm Apr 11, 2010 7:03pm
If you agree that the downtrend is over, you can do the following:

-Put on a very low risk trade to the long side.If you used to put 1 lot per trade, change it to maybe 0.5 lots
-Put an extra wide stop loss.

REason:
-If market goes up, you make some money. Look for chance to add long.
-If you are wrong, and market goes down, you lose less money (or even better, you don't hit your stop loss) Look for chance to add on to longs.

If you follow this advice, I expect you to be well versed in some form of money management. GL
  • #223,658
  • Apr 11, 2010 7:03pm Apr 11, 2010 7:03pm
My GOLD target right on the money now:

http://www.forexfactory.com/showpost...stcount=221827
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  • #223,659
  • Apr 11, 2010 7:06pm Apr 11, 2010 7:06pm
Quoting gatorinla
you should time line this. trend started long before greece. since cb's have proped it up. the prevent total economic meltdown in europe. and spread worlwide.

you dont solve your brother in-laws money problems (the brother in-law with 2 new cars, a new house, an open account at the local boobie bar and no job). by co-signining a new loan for him.

the small print will be read.
All that is left in FF is just plain garbage. "Cloggie"
  • #223,660
  • Apr 11, 2010 7:07pm Apr 11, 2010 7:07pm
http://crawldex.com/mdc_pics/mew3.jpg

I believe in you guys and want you to have this motivational kitten poster to inspire you.

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