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  • #244,961
  • May 19, 2010 8:20pm May 19, 2010 8:20pm
Quoting Protogenos
Ahhh what a crappy day. Couldn't take the pain anymore on the push up and as soon as I close out it reverses. Woulda broke even; instead gave back all my profit for the week.

And to top it off I've got a long in. Thought I would play the pullback lol...I think I need a mini vacation
Tell me about it. I don't know why I have more patience on my loosing trades than on my winning trades. Took 2 full positions SLed in the morning. Now I'm scalping knowing EUR is going down, according to mornings plans, but can't handle more than 20 pips before I close it just to open another short a few minutes later.
  • #244,962
  • May 19, 2010 8:21pm May 19, 2010 8:21pm
Moving averages work...

21EMA (red one) changes sloap.
Price first breaks 21EMA and do a retest from the bottom. After retest is done and going more down - moving SL just above 21EMA.
Now breaking 55EMA. Might not even have a retest since Pivot point is close so it might go straight to test that one.

Will move SL right above 55EMA once I'm sure it's done with it.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010_05_20_eurusd_m15.gif Size: 25 KB
big numbers are our friends...
  • #244,963
  • May 19, 2010 8:23pm May 19, 2010 8:23pm
should bounce here (2330)
  • #244,964
  • May 19, 2010 8:24pm May 19, 2010 8:24pm
Quoting deeZG
Moving averages work...

21EMA (red one) changes sloap.
Price first breaks 21EMA and do a retest from the bottom. After retest is done and going more down - moving SL just above 21EMA.
Now breaking 55EMA. Might not even have a retest since Pivot point is close so it might go straight to test that one.

Will move SL right above 55EMA once I'm sure it's done with it.
You have my congratulations if you can trade profitably with moving averages. Of the 18 months I spent examining and testing different ideas, most of my time was concentrated on some kind of system involving moving averages. Now I just look at them as a vague guide to where the price is going.
  • #244,965
  • May 19, 2010 8:27pm May 19, 2010 8:27pm
Trying to think like the the big guys. " what would screw them up the most " I think that would do it as we are all in a trending mind set. Any thoughts?
Attached Image (click to enlarge)
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  • #244,966
  • May 19, 2010 8:28pm May 19, 2010 8:28pm
Quoting clambill
You have my congratulations if you can trade profitably with moving averages. Of the 18 months I spent examining and testing different ideas, most of my time was concentrated on some kind of system involving moving averages. Now I just look at them as a vague guide to where the price is going.
Well, it would be very stupid to rely on them only (as with any other tool itself).
I look pretty much things. E.g. in this entry, some of the things I was looking at: EMAs, TL break, MACD bear divergence (on M5 & M15)....

It's never only one thing.

But EMAs as dynamic S/R levels can be very, very useful in situations like this.
big numbers are our friends...
  • #244,967
  • May 19, 2010 8:31pm May 19, 2010 8:31pm
For example - switch to H1 at the moment and take a look where the price stopped now.

Exactly on 21EMA. In a pip precision
big numbers are our friends...
  • #244,968
  • May 19, 2010 8:36pm May 19, 2010 8:36pm
I think the next hours gonna be explosive! UP
Founder of Sutherland Wave Principle
  • #244,969
  • May 19, 2010 8:36pm May 19, 2010 8:36pm
Quoting 4xjunkie
Trying to think like the the big guys. " what would screw them up the most " I think that would do it as we are all in a trending mind set. Any thoughts?Attachment
Thats funny cause your chart is exactly what I was thinking. Possibly a inverted head and shoulders pattern formation after this next wave.
  • #244,970
  • May 19, 2010 8:37pm May 19, 2010 8:37pm
Quoting deeZG
Moving averages work...

21EMA (red one) changes sloap.
Price first breaks 21EMA and do a retest from the bottom. After retest is done and going more down - moving SL just above 21EMA.
Now breaking 55EMA. Might not even have a retest since Pivot point is close so it might go straight to test that one.

Will move SL right above 55EMA once I'm sure it's done with it.
dude, your 21EMA and 55EMA, is for M15.
it makes us think it is daily, because in M15 talking about 21-EMA, is just few hours that start the down from 1,24.
  • #244,971
  • May 19, 2010 8:39pm May 19, 2010 8:39pm
Explosive to where?


Quoting suthmo
I think the next hours gonna be explosive! UP
  • #244,972
  • May 19, 2010 8:39pm May 19, 2010 8:39pm
Quoting InfamousFX
Thats funny cause your chart is exactly what I was thinking. Possibly a inverted head and shoulders pattern formation after this next wave.
I have learned one thing is that they will do whatever it takes to get you to take the wrong side of the current trend that would defenatly suck you in both sides.
  • #244,973
  • May 19, 2010 8:40pm May 19, 2010 8:40pm
Quoting ppxdf
dude, your 21EMA and 55EMA, is for M15.
it makes us think it is daily, because in M15 talking about 21-EMA, is just few hours that start the down from 1,24.
Well, didn't I tell it's on M15? Sorry if I didn't. My fault in that case. (although I posted a chart..there is a TF on it)

And yes, it's about a few hours... and made about 70pips till that last high.

I don't trade daily yet.
big numbers are our friends...
  • #244,974
  • May 19, 2010 8:41pm May 19, 2010 8:41pm
Quoting theroller
I will most likely book longs around US session close, and believe Asia and Europe will bring the pair down again. Most likely turning strong bearish in Asia.

Wave movement is EURUSD is continuing well, as I closed longs from 1.2192 at 1.2427, and went strong bearish, expecting Asia and Euro to bring the quotes down towards sub 1.23 again.

The downtrend remains intact below 1.2450s, and Asia open provided really great quotes, better than I expected, as taking the pair initially to 1.2440s.

This wave down will most likely be a 200+ pips (even 100+ is done in the first hours of Asia)
  • #244,975
  • May 19, 2010 8:42pm May 19, 2010 8:42pm
Quoting suthmo
I think the next hours gonna be explosive! UP

Down, to 1.23 and lower.
  • #244,976
  • May 19, 2010 8:57pm May 19, 2010 8:57pm
Quoting 4xjunkie
I have learned one thing is that they will do whatever it takes to get you to take the wrong side of the current trend that would defenatly suck you in both sides.
You have still a lot to learn. Me 2. All of us.
  • #244,977
  • May 19, 2010 9:01pm May 19, 2010 9:01pm
Quoting deeZG
Well, didn't I tell it's on M15? Sorry if I didn't. My fault in that case. (although I posted a chart..there is a TF on it)

And yes, it's about a few hours... and made about 70pips till that last high.

I don't trade daily yet.
I only look at the SMA - Simple Moving Average. I think for FX there is no point using the weighted or exponential – as the market is 24 hours and fairly smooth in terms of price action.


Cheers
  • #244,978
  • May 19, 2010 9:01pm May 19, 2010 9:01pm
Don't forget about the general strike in Greece tomorrow and the effect that will have on the euro. Last time they had a general strike the dow dropped 1,000 points, the Greeks petrol-bombed a bank, and the Euro tanked.
  • #244,979
  • May 19, 2010 9:02pm May 19, 2010 9:02pm
Quoting gatorinla
hey still got that chart from months ago with the multi colored lines? if you do give me the original post. so i can expand it.. i think the bounce was at a 1.6 level completion.
Sorry, had to leave the house for an hour or so..getting real world stuff done before fo/lo.

Is this the one?

Attached Image (click to enlarge)
Click to Enlarge Name: gator all lines.gif Size: 24 KB
  • #244,980
  • May 19, 2010 9:03pm May 19, 2010 9:03pm
Quoting ppxdf
I only look at the SMA - Simple Moving Average. I think for FX there is no point using the weighted or exponential – as the market is 24 hours and fairly smooth in terms of price action.


Cheers
I appreciate your opinion. I guess it's all about personal trading style.

It works very good for me which doesn't mean it should/would for anyone else, of course.
I just wanted to illustrate the case when it did since that's something I use a lot and shows results for me very often.
big numbers are our friends...
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