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  • #1,561
  • May 16, 2010 11:40pm May 16, 2010 11:40pm
Nothing exciting on A/U atm. We'll probably just get a bunch of back and forth PA for a while since the fun already occurred and the consolidation needs to take place before more losses.
Attached Image (click to enlarge)
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,562
  • May 16, 2010 11:43pm May 16, 2010 11:43pm
Quoting Saxon
What a day, I am back to test the waters with GU and EU and see what London brings. No real data to get in our way until US open so we can let our analysis do the work. I will have some charts up in the next few. There are a few with-trend trades coming up with significant s/r and "00" for GU and EU. GU PA I wil be watching at 1.44, fib 23. Depending on where you start your fibs, there will be a few confluence points on GU. 38 fib on "00" 1.44 using a fib drawn ~1.463 (beginning of breakout triangle). A confluence of 23 fib and 50 fib drawn...

EU is on it's way to S/R ~1.2333 which is a significant low for the last few years. Was broken on momentum today, PA on it's way to test. Could meet with 40/50 MA at S/R as well. Will be watching PA if it reaches this price.
  • #1,563
  • May 16, 2010 11:45pm May 16, 2010 11:45pm
Does anyone have a view for the Dow and ES for Monday? Usually after a close like we had on Friday I would look for Monday and Tuesday to be up days before selling off again from resistance on Tuesday but I am less than sure of that happening currently.
  • #1,564
  • May 16, 2010 11:47pm May 16, 2010 11:47pm
Quoting MarcVUM
Nothing exciting on A/U atm. We'll probably just get a bunch of back and forth PA for a while since the fun already occurred and the consolidation needs to take place before more losses.
AU seemed like a more gradual drop today/friday (until right around 885), unlike the Europe pairs. So, for me, it is hard to guage a % consolidation since I can't find a real exact place to start. Any ideas where the ball got rolling?
  • #1,565
  • May 16, 2010 11:48pm May 16, 2010 11:48pm
Quoting amyc
Does anyone have a view for the Dow and ES for Monday? Usually after a close like we had on Friday I would look for Monday and Tuesday to be up days before selling off again from resistance on Tuesday but I am less than sure of that happening currently.
I see it continuing to fall.
Attached Image (click to enlarge)
Click to Enlarge Name: au1.jpg Size: 117 KB
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,566
  • May 16, 2010 11:49pm May 16, 2010 11:49pm
Quoting Saxon
EU is on it's way to S/R ~1.2333 which is a significant low for the last few years. Was broken on momentum today, PA on it's way to test. Could meet with 40/50 MA at S/R as well. Will be watching PA if it reaches this price.
Hi Saxon,

Do u think the price could fall again after hitting that level of 1.2330/35

cuz I have a sell limit at 123.35

thanks

Mahsam
  • #1,567
  • May 17, 2010 12:02am May 17, 2010 12:02am
Quoting mahsam
Hi Saxon,

Do u think the price could fall again after hitting that level of 1.2330/35

cuz I have a sell limit at 123.35

thanks

Mahsam
Hi Mahsam,
Welcome to the thread.
I am very bearish on EU, however, EU did take a hit and broke VERY significant S/R (1.2333). I don't like to give exact trade opinion, but for me, I would not have a limit order but watch PA interact with it (if it reaches) and guage it. Other factors like time of day, market participants, news, etc... can get into the way. I get really exact with my entry and exits, which is bad and good, so I don't usually set limits and just watch PA and kinda judge it from "feel". If I see significant pressure around that area, then I might place a small sell order. My stop would be roughly 20-30 pips. This would be with trend so that is on your side. Also, a good thing about not using limits is that you can wait for candles to complete. Maybe trade on candle close and see where the wick (upper) went. As you can see, it is very subjective. Stick around and you will start to see how we trade individually and pick and choose what you like and don't like and develop something so you can get your own feel for PA.

I added my chart. The magenta line might be my stop if I "did' enter. Sorry for rambling on. London is on.
Attached Image (click to enlarge)
Click to Enlarge Name: erreee.gif Size: 47 KB
  • #1,568
  • May 17, 2010 12:03am May 17, 2010 12:03am
Quoting Saxon
AU seemed like a more gradual drop today/friday (until right around 885), unlike the Europe pairs. So, for me, it is hard to guage a % consolidation since I can't find a real exact place to start. Any ideas where the ball got rolling?
If I was looking to short au I would look at 8802.
  • #1,569
  • May 17, 2010 12:04am May 17, 2010 12:04am
Quoting Saxon
...As I am typing this GU PA is making a fast run on first confluence so it might be void due to speed and timing.
First confluence void due to open. Second might hold, just watching PA, no limits on.
  • #1,570
  • May 17, 2010 12:06am May 17, 2010 12:06am
Quoting Saxon
Hi Mahsam,
Welcome to the thread.
I am very bearish on EU, however, EU did take a hit and broke VERY significant S/R (1.2333). I don't like to give exact trade opinion, but for me, I would not have a limit order but watch PA interact with it (if it reaches) and guage it. Other factors like time of day, market participants, news, etc... can get into the way. I get really exact with my entry and exits, which is bad and good, so I don't usually set limits and just watch PA and kinda judge it from "feel". If I see significant pressure around that...

Hi Saxon,

thanks for the advice looking forward to trading with you guys here

Mahsam
  • #1,571
  • May 17, 2010 12:06am May 17, 2010 12:06am
Quoting amyc
If I was looking to short au I would look at 8802.
You're probably right. From the looks of my M15 chart it's looking more and more like the MA's and Daily S1 / 8800 are lining up at that point.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,572
  • May 17, 2010 12:08am May 17, 2010 12:08am
Quoting MarcVUM
You're probably right. From the looks of my M15 chart it's looking more and more like the MA's and Daily S1 / 8800 are lining up at that point.
I'd use a well placed stop though as it wouldn't suprise me to see this turn out to be an up day by the end of NY.
  • #1,573
  • May 17, 2010 12:35am May 17, 2010 12:35am
Quoting Saxon
First confluence void due to open. Second might hold, just watching PA, no limits on.
Second target caused a nice 35 pip bounce. I didn't take it though
Watching EU target
  • #1,574
  • May 17, 2010 12:41am May 17, 2010 12:41am
Quoting Saxon
Second target caused a nice 35 pip bounce. I didn't take it though
Watching EU target
Hi Saxon,

Can u pls tell me whts your view on the ej...do u think it has the possibility of going lower today cuz m currently short from 113.10 looking for a tp of 112.50....??

Whts your view on that trade..?
help would be appreciated

thanks

Mahsam
  • #1,575
  • May 17, 2010 12:42am May 17, 2010 12:42am
Quoting Saxon
Second target caused a nice 35 pip bounce. I didn't take it though
Watching EU target
Wow, make that a 50+ bounce
  • #1,576
  • May 17, 2010 12:45am May 17, 2010 12:45am
Quoting mahsam
Hi Saxon,

Can u pls tell me whts your view on the ej...do u think it has the possibility of going lower today cuz m currently short from 113.10 looking for a tp of 112.50....??

Whts your view on that trade..?
help would be appreciated

thanks

Mahsam
Hi Mahsam,
EJ isn't really one of my pairs, I was considering getting in it pretty soon though. I know a few really good traders in this thread follow it though...I think Clouds and Shahab might follow it. They are in and out of this thread from time to time and might respond to your inquiry. Sorry I couldn't help though
  • #1,577
  • May 17, 2010 12:50am May 17, 2010 12:50am
Quoting Saxon
Hi Mahsam,
EJ isn't really one of my pairs, I was considering getting in it pretty soon though. I know a few really good traders in this thread follow it though...I think Clouds and Shahab might follow it. They are in and out of this thread from time to time and might respond to your inquiry. Sorry I couldn't help though
Hi saxon,

Its no problem at all, you dont gotta be sorry you're already doing enough to help & its highly appreciated specially by newbies like myself i guess that trade is working out fine for the time being its currently in +13 pips


Mahsam
  • #1,578
  • May 17, 2010 12:59am May 17, 2010 12:59am
Quoting mahsam
Hi saxon,

Its no problem at all, you dont gotta be sorry you're already doing enough to help & its highly appreciated specially by newbies like myself i guess that trade is working out fine for the time being its currently in +13 pips


Mahsam
13 pips is good!

It looks like me and you are going to have to wait for our potential EU target. The H1 closing push might save some momentum though and swing us up there eventually I'm kicking myself for not taking my GU target

If you need some good direction with your trading, send me a PM and I will point you to some good resources (books, websites, threads, etc...) and what not to help you get started. Also, just following this thread, Amy's, Shahabs and Geppy's and asking questions can help out a lot too. Don't feel intimidated to ask questions either, it might take a while for someone to get back, but someone will always respond. Good luck with your trades.

I might step off the desk for a little.
  • #1,579
  • May 17, 2010 1:34am May 17, 2010 1:34am
Quoting Saxon
13 pips is good!

It looks like me and you are going to have to wait for our potential EU target. The H1 closing push might save some momentum though and swing us up there eventually I'm kicking myself for not taking my GU target

If you need some good direction with your trading, send me a PM and I will point you to some good resources (books, websites, threads, etc...) and what not to help you get started. Also, just following this thread, Amy's, Shahabs and Geppy's and asking questions can help out a lot too. Don't feel intimidated...
Hi Saxon,

Looking forward to that set-up lol even though i dont know what it may look like

Mahsam
  • #1,580
  • May 17, 2010 3:56am May 17, 2010 3:56am
After closing last night before going to bed, here's what I see and looking to re-enter ....

We already have PA but I like to see one last thing happen, which is this current H1 candle (in about 5 mins) closing with a lower high and lower close. Then I'd use sell stop to continue the ride.. Hopefully it's getting set for NY.
Attached Image (click to enlarge)
Click to Enlarge Name: gu-h1xx.gif Size: 44 KB
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