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EURUSD

  • #248,981
  • May 27, 2010 2:21pm May 27, 2010 2:21pm
Quoting MuddBuddha
Yeah, I've got nothing. All my pairs (a whopping three of them) are all in BULL territory. So, unless a strong LONG signal shows it's face, I'm done for the day.

I don't "retrace trade" as those are the riskiest style trading and I need to eat. And I'll be damned if I ever open another trade based on a hunch.

"Show me the signal!"


wise man . i lost many $ made on clear trends on fallacious retrace against the trend illusion trade. wait for clear brake and then enter. i see the trend long in the next days but a consolidation period will follow with ups and downs i suppose
Andreyou
  • #248,982
  • May 27, 2010 2:23pm May 27, 2010 2:23pm
Quoting T@rantula
.... resisting it is a part of learning The Psychology of the trader
Nah, just start drinking earlier.

I can resist all day with a glass of bourbon in hand!
Capital Preservation is key to long term wealth accumulation
  • #248,983
  • May 27, 2010 2:24pm May 27, 2010 2:24pm
Quoting uraceulose
forgive the sloppy lines...it's common knowledge that we are in a down trend. your up move is our retracement.

Attachment

We are a little over 200 pips from 2150. up from a few thousand pip drop...which is the retracement?

who said the correction was over?
  • #248,984
  • May 27, 2010 2:25pm May 27, 2010 2:25pm
Quoting andreypu
wise man . i lost many $ made on clear trends on fallacious retrace against the trend illusion trade. wait for clear brake and then enter. i see the trend long in the next days but a consolidation period will follow with ups and downs i suppose
where is the clear signal the lower trend has stopped?
those who can, do. those who cant, talk about those who can
  • #248,985
  • May 27, 2010 2:25pm May 27, 2010 2:25pm
Quoting ubaidahsan
so you mean can go short from here/??

Ub
sorry for being late , it already started with top 1.2395.Not see overnight play but all precautions taken & pending orders also .
thanks ,
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #248,986
  • May 27, 2010 2:28pm May 27, 2010 2:28pm
Quoting andreypu
wise man . i lost many $ made on clear trends on fallacious retrace against the trend illusion trade. wait for clear brake and then enter. i see the trend long in the next days but a consolidation period will follow with ups and downs i suppose
When the USD hit 1.17 and the "retracement" to 1.19 occured, I "gridded" into several SHORT positions assuming the trend would continue south. Yet it continued to blow through S/R levels.

It didn't turn south and continued north. I lost about $6,500.00 that day. As my heart sank into my chest, and a little vomit came up, I swore I wouldn't retrace trade EVER again.

Different time, different mentality. I was younger and dumber. Thought I could, "call the ball".

Live and learn....
Capital Preservation is key to long term wealth accumulation
  • #248,987
  • May 27, 2010 2:28pm May 27, 2010 2:28pm
i don t have any ideea about the next days... but clearly there is an effort in the last previous days to keep it between 1.22 - 1.24... long signal for the moment is just on 30 m and 1h... it s very short time
Andreyou
  • #248,988
  • May 27, 2010 2:30pm May 27, 2010 2:30pm
Quoting MuddBuddha
Nah, just start drinking earlier.

I can resist all day with a glass of bourbon in hand!
Yeah baby, 7&7 waiting for me @ home. part of the reason I slept last night instead of trade
  • #248,989
  • May 27, 2010 2:33pm May 27, 2010 2:33pm
Quoting MuddBuddha
When the USD hit 1.17 and the "retracement" to 1.19 occured, I "gridded" into several SHORT positions assuming the trend would continue south. Yet it continued to blow through S/R levels.

It didn't turn south and continued north. I lost about $6,500.00 that day. As my heart sank into my chest, and a little vomit came up, I swore I wouldn't retrace trade EVER again.

Different time, different mentality. I was younger and dumber. Thought I could, "call the ball".

Live and learn....
Was that then when u start drinking?
  • #248,990
  • May 27, 2010 2:34pm May 27, 2010 2:34pm
I am not convinced we will make new lows on this move. I don't know how low we will go but it will stay above the low thats what my analysis shows for now unless something big happens tomorrow. To dangerous to short right now as it may turn back up . Too dangerous to long right now because i have no clue how low it will go. So I'm staying out. If we do make it to the 1.21xx levels which i doubt i will take a long with a sl below the low. If we don't make it that low will just sit out and plan my shorts for probably next week. I'm going to try to play this one safe.

Oh and about loosing money on retracing thats the story of my life...many times i exited good positions early thinking we reached a top just to short the retrace and ended up getting burned. So I just don't get greedy anymore I exit with profit and wait for a more clear direction. However anyone that is profitable doing this I would love to hear your advise. Thanks
Former Trader Of the Year of the 95% losing club! Retired
  • #248,991
  • May 27, 2010 2:35pm May 27, 2010 2:35pm
Quoting No Stress
Agree for forming bearish flag, and i add a 50% retrace (1.214-1.2671) that could not reach up to now for the second time making a single top to trade against. With all this a good Head and Shoulders on 1 hour chart, if confirmed, will rocket down EU to 1.16 level means: 770pips and bottom of november 2005 and 56.5% weekly retrace.

s&p 500 is hiting old bottom. If could not break that bottom today it could do it tomorrow. Between, if EU could touch 1.2151 and reach it, s&p will go back and EU will so.

Frankly,...
Thanks , good observation . The HS you refering may not work & the bear few days trying to catch this pattern work but so far failed or may have been rejected , who knows . anyway take care , wish you good luck .
thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #248,992
  • May 27, 2010 2:38pm May 27, 2010 2:38pm
Shakeouts, stop hunting whatever...see usd/chf
They think they are smarter than I am.
  • #248,993
  • May 27, 2010 2:38pm May 27, 2010 2:38pm
Quoting No Stress
Agree for forming bearish flag, and i add a 50% retrace (1.214-1.2671) that could not reach up to now for the second time making a single top to trade against. With all this a good Head and Shoulders on 1 hour chart, if confirmed, will rocket down EU to 1.16 level means: 770pips and bottom of november 2005 and 56.5% weekly retrace.

s&p 500 is hiting old bottom. If could not break that bottom today it could do it tomorrow. Between, if EU could touch 1.2151 and reach it, s&p will go back and EU will so.

Frankly,...

SL locked at entry point. Waiting to see if breaking easily 1.2297 or not. If yes, looking how EU will do with 1.2143. If it will go through, 1.17 will not impossible to touch.

Good trading for all
No Signal, No Trade. No fundamenals, No headache.
  • #248,994
  • May 27, 2010 2:40pm May 27, 2010 2:40pm
strange how the Dow is not correlating at all with this move....somethings fishy and it may be with the Dow
Former Trader Of the Year of the 95% losing club! Retired
  • #248,995
  • May 27, 2010 2:42pm May 27, 2010 2:42pm
Quoting AmeriTrini
what, a retrace?..........its common knowledge that after a move up a retracement happens.
Isn't that what you meant by retracement? that we were trending up and then retracing down..is the correction in your eyes down or up?
  • #248,996
  • May 27, 2010 2:44pm May 27, 2010 2:44pm
Ok no getting out of this one...
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  • #248,997
  • May 27, 2010 2:45pm May 27, 2010 2:45pm
Quoting fontu
Thanks , good observation . The HS you refering may not work & the bear few days trying to catch this pattern work but so far failed or may have been rejected , who knows . anyway take care , wish you good luck .
thanks ,
fontu
Thanks and good luck to you too. Waiting to pyramid if going through 1.2143. Before, it will be dangerous, if rally will go more than 50 pips.
Actually, 38.2% retrace has rejected down move with 20 pips rally. Nice to remeber for the following.
No Signal, No Trade. No fundamenals, No headache.
  • #248,998
  • May 27, 2010 2:47pm May 27, 2010 2:47pm
Quoting Rgali1
strange how the Dow is not correlating at all with this move....somethings fishy and it may be with the Dow
Follow S&P 500
No Signal, No Trade. No fundamenals, No headache.
  • #248,999
  • May 27, 2010 2:48pm May 27, 2010 2:48pm
If oil breaks out higher in the coming days we can forget about new euro lows for the time being. I'll be watching oil. If it fails then there will be proper alignment
Former Trader Of the Year of the 95% losing club! Retired
  • #249,000
  • May 27, 2010 2:50pm May 27, 2010 2:50pm
Quoting Rgali1
strange how the Dow is not correlating at all with this move....somethings fishy and it may be with the Dow
because as euro drops usd can still strengthen.. it was once the norm concerning usd. that was before manipulation by the fed to devalue usd. most manipulation has occurred in the last decade. during the rise of the euro.
those who can, do. those who cant, talk about those who can
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