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  • #223,761
  • Apr 11, 2010 11:08pm Apr 11, 2010 11:08pm
Quoting malcolmb14
maybe and may be not

Gold moving up
Oil moving up
I bet ftse moves up in London
dax moves up and es futures at 1200. Bull is back . We break 1200 we see 1270

None of the above are going to help usd this week.

Watch for break out of 1.3670. If this happens then not sure when gap gets filled . Maybe on way back down after dj tests 14400... lol ( just a joke of course but these days I am not sure if it is or not)

Yeah possibly... With earnings reports coming in over the next week or so it will be risky (Day trading only). If they come in disappointing it could trigger a big correction south, and I'm expecting them to fall short. The recovery hasn't happened enough to warrant great profit across the board imo... This will be a reality check for the Equity markets if this is true.

Now if they're bad enough it could signal a new round of fear and you know what that means for the EU, Yen, Equities, Oil, Gold ect.

I'm watching closely, and given this gap I'll be waiting for signals of the correction getting weaker to take short.

If the EU is able to close daily above 3850 then I'll be looking to build longs on a retrace but that's not happening yet (Pending a few key things I would want to see out of other markets, and only short term until it proves itself).

Time will tell.

Edit: Took a short on EU and GU with stops above 3720+ on EU and above 5485+ on GU.
  • #223,762
  • Apr 11, 2010 11:12pm Apr 11, 2010 11:12pm
on the 5 15 and 30 minute charts.
Attached Image (click to enlarge)
Click to Enlarge Name: bear flag.JPG Size: 161 KB
All that is left in FF is just plain garbage. "Cloggie"
  • #223,763
  • Apr 11, 2010 11:13pm Apr 11, 2010 11:13pm
Okay here goes...

short at 3657

tp= 3591
sl= 3687
  • #223,764
  • Apr 11, 2010 11:17pm Apr 11, 2010 11:17pm
hey shorters ;D
  • #223,765
  • Apr 11, 2010 11:21pm Apr 11, 2010 11:21pm
Quoting 2+2=4ex
Okay here goes...

short at 3657

tp= 3591
sl= 3687
  • #223,766
  • Apr 11, 2010 11:22pm Apr 11, 2010 11:22pm
Quoting tonyo524
on the 5 15 and 30 minute charts.
You mean a bull pennant/flag?

That is not a bear flag. Tight upper boundary. Higher lows on the lower boundary.

Indicates that buying pressure is more than the selling pressure.

But... this is done over some really stagnant market movement so I don't really believe anything that I see right now.

Boring day probably till londan open -_-
  • #223,767
  • Apr 11, 2010 11:25pm Apr 11, 2010 11:25pm
As for the gap??
It's only one of a series. All apparently triggered by no significant news. At least in my humble opinion the "Bailout" is not significant news till the cheques are in Greece's hands and preferebly cashed. At that point it will be significant news----highly negative news.
Another reason for my mistrust of this move is that I see E/U and G/U opperating in a vacume...That does not compute in my world.

Quoting 2+2=4ex
Okay here goes...

short at 3657

tp= 3591
sl= 3687
Ah Luv the smell of a good prediction in the mornin!
  • #223,768
  • Apr 11, 2010 11:30pm Apr 11, 2010 11:30pm
Quoting Artcritique
As for the gap??
It's only one of a series. All apparently triggered by no significant news. At least in my humble opinion the "Bailout" is not significant news till the cheques are in Greece's hands and preferebly cashed. At that point it will be significant news----highly negative news.
Another reason for my mistrust of this move is that I see E/U and G/U opperating in a vacume...That does not compute in my world.
Not enough suckers on board long before dropping the bottom out. Once the delusion that things are hunky dory, and that the clouds have parted, the holy light has descended, and the angels have arrived to save the EZ from its woes....they'll drop the bottom out. In the meantime, I expect them to stand aside and let this float upwards like a fatty turd in a toliet....all to get a better price to short it into oblivion. Edited to add: Also, when you're dealing with a situation where everyone and their brother is short and knows this is going sub 1.3, you have to shake it out and cause confusion - you need liquidity on the other side of the equation in order to make things move. Once enough people believe this pair has turned, we'll be going down.
  • #223,769
  • Apr 11, 2010 11:31pm Apr 11, 2010 11:31pm
Let me see if I have done the math right that would be $2000 a pip
I wonder if a broker would even allow that large of a order.
They might but your account would need to be a million at least I think.
A 200 pip move to fill in the gap would be $400,000!
Not bad for a days work..
Then you can write a book "How to retire in one day"
Dean




Quoting pacha group
I see a move down to 1.3450 later this week , remember this move up was because of the news about Greece, nothing else. I'm short 200 lots at 1.3670 stop 1.3710
  • #223,770
  • Apr 11, 2010 11:32pm Apr 11, 2010 11:32pm
Quoting thelws
You mean a bull pennant/flag?

That is not a bear flag. Tight upper boundary. Higher lows on the lower boundary.

Indicates that buying pressure is more than the selling pressure.

But... this is done over some really stagnant market movement so I don't really believe anything that I see right now.

Boring day probably till londan open -_-
I should have said ascending triangle.

http://www.thepitmaster.com/images/t...s/ascentri.gifAscending Triangle
A formation in which the slope of price highs and lows come together at a point outlining the pattern of a Right Triangle. The hypotenuse in an Ascending Triangle should be sloping from lower to higher and from left to right. To trade this formation, place a buy order on a break up and out of the triangle or a sell order on a break down and out of the triangle. Ascending triangles, with a prior downtrend, are anticipated to break down and out, rather than up and out.
Attached Image
All that is left in FF is just plain garbage. "Cloggie"
  • #223,771
  • Apr 11, 2010 11:37pm Apr 11, 2010 11:37pm
The worst thing ever just happened to me.

I tought, I'm sure I had my stop loss set up at 1,3550... since crazy friday... I did a mistake.. At 1,3650 !

I'm now opening my account, suprise... Lost 60% of my balance.

I feel like total shit.
  • #223,772
  • Apr 11, 2010 11:42pm Apr 11, 2010 11:42pm
Quoting Hotte&Co
The worst thing ever just happened to me.

I tought, I'm sure I had my stop loss set up at 1,3550... since crazy friday... I did a mistake.. At 1,3650 !

I'm now opening my account, suprise... Lost 60% of my balance.

I feel like total shit.
That sucks man.....

All you can do now is take a break until your head is clear and you have accepted the loss, then come back fresh and chip away at making pips. Worst thing now is the dreaded 'revenge trade'....imo
Doing what you like is Freedom. Liking what you do is Happiness.
  • #223,773
  • Apr 11, 2010 11:42pm Apr 11, 2010 11:42pm
Quoting Hotte&Co
The worst thing ever just happened to me.

I tought, I'm sure I had my stop loss set up at 1,3550... since crazy friday... I did a mistake.. At 1,3650 !

I'm now opening my account, suprise... Lost 60% of my balance.

I feel like total shit.
Sorry to hear that . That sucks.
Blogging daily now at www.volume.zone
  • #223,774
  • Apr 11, 2010 11:43pm Apr 11, 2010 11:43pm
Quoting PriceVolume
Not enough suckers on board long before dropping the bottom out. Once the delusion that things are hunky dory, and that the clouds have parted, the holy light has descended, and the angels have arrived to save the EZ from its woes....they'll drop the bottom out. In the meantime, I expect them to stand aside and let this float upwards like a fatty turd in a toliet....all to get a better price to short it into oblivion....
I see dead people.
Traders are smartasses
  • #223,775
  • Apr 11, 2010 11:43pm Apr 11, 2010 11:43pm
Quoting realjumper
That sucks man.....

All you can do now is take a break until your head is clear and you have accepted the loss, then come back fresh and chip away at making pips. Worst thing now is the dreaded 'revenge trade'....imo

could also go long and tp 1.3800 ish ....stop 1.3590 .
Blogging daily now at www.volume.zone
  • #223,776
  • Apr 11, 2010 11:43pm Apr 11, 2010 11:43pm
Quoting Hotte&Co
The worst thing ever just happened to me.

I tought, I'm sure I had my stop loss set up at 1,3550... since crazy friday... I did a mistake.. At 1,3650 !

I'm now opening my account, suprise... Lost 60% of my balance.

I feel like total shit.
this fucking shit already happened with me many times before
dean walker above already discribed this situation in his new "book" "How to retire in one day"
Dean[/quote]

so now I only do fucking scalp 2-6 pips at night
ROBOT FOREX
  • #223,777
  • Apr 11, 2010 11:44pm Apr 11, 2010 11:44pm
Quoting PriceVolume
Not enough suckers on board long before dropping the bottom out. Once the delusion that things are hunky dory, and that the clouds have parted, the holy light has descended, and the angels have arrived to save the EZ from its woes....they'll drop the bottom out. In the meantime, I expect them to stand aside and let this float upwards like a fatty turd in a toliet....all to get a better price to short it into oblivion. Edited to add: Also, when you're dealing with a situation where everyone and their brother is short and knows this is going sub 1.3,...
It will be the banks that move it, as always. That's beside the reason. The reason, in my opinion, is the 225+/- pip differential from friday's median price. Granted, a retrace was due from the 550+/- pip move of 03/17-03/25. But a big retrace usually has a retrace. That's what I'm hoping for at least. That and no euro bull news.
  • #223,778
  • Apr 11, 2010 11:44pm Apr 11, 2010 11:44pm
Quoting Spsantos
I see dead people.
Do you hear voices too?
  • #223,779
  • Apr 11, 2010 11:45pm Apr 11, 2010 11:45pm
Quoting PriceVolume
Do you hear voices too?
Nope, but i read a lot of crap.

But i'm used to this, been around for long
Traders are smartasses
  • #223,780
  • Apr 11, 2010 11:46pm Apr 11, 2010 11:46pm
Quoting Hotte&Co
The worst thing ever just happened to me.

I tought, I'm sure I had my stop loss set up at 1,3550... since crazy friday... I did a mistake.. At 1,3650 !

I'm now opening my account, suprise... Lost 60% of my balance.

I feel like total shit.

You got killed by the gap. Rather, you got killed by improper money management. A 200 pip move is = 60% of your account means you are overleveraged. If I were in your situation, I would have lost 4% on my account. Having said that, 4% is rather large loss because I only make about 10% on a good month. A 4% knockout would definitely knock my morale down.

I'm not trying to rub salt on your wounds, rather I'm saying that shit happens. You need better money management to stay in the game. At least you are not out of the game completely.

It happened to me too. So i know what you went through. Take a break. Chill out for a few hours and get composed. Then start chipping bits and peices again like what some of our posters said above.
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