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  • #249,981
  • May 30, 2010 6:26pm May 30, 2010 6:26pm
Quoting Freddyfx
Amigo, there is NO volume.

My advise, if you care to hear it, wait till Tokyo comes online and then check what is happening.

There is always the next bus you can take to the bank,...............saludos.
Thanks for the advise Freddy So I wont trade until there´s volume Hopefully... since UK banks are on holiday ...it must be something related to that Im guessing also this broker is based on UK... maybe can be that too?

Saludos !
Darpsyx
  • #249,982
  • May 30, 2010 6:28pm May 30, 2010 6:28pm
Quoting mokonni
Above link does not work but here it is
http://business.timesonline.co.uk/to...cle7140270.ece

From The Sunday Times

May 30, 2010


Greece urged to give up euro

THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy.
The Centre for Economics and Business Research (CEBR), a London-based consultancy, has warned Greek ministers they will be unable to escape their debt trap without devaluing their own currency...
damn what an idea?? who would of thunk it?
those who can, do. those who cant, talk about those who can
  • #249,983
  • May 30, 2010 6:30pm May 30, 2010 6:30pm
Short term - to shoot for the 23.6 fib at 1.2307; stall, then either attempt the 38.2 at 1.2334, but there 's a lot in the way there - or turn south again.

Attached Image


just what I'm seeing right now -
Pip what you see; See what you pip!
  • #249,984
  • May 30, 2010 6:32pm May 30, 2010 6:32pm
Quoting TexasforEX
Not to be too complicated, but did the longs that got squeezed and new shorts coming way too late to the trade cause capitulation? (Huge May Candle)

I firmly say yes.

So trades are one way then? Traders have to keep shorting coz this thing won't stop for a while?

We'll just have to agree to disagree.

I have plenty o longs sir. Are you holding shorts then? You don't wanna get lumped into the 95% like me do you?
I didn't say that. it depends on the time frame you are trading.
If you day trade or look for a 1m chart you could be doing more than I do.

But the trend is down so I trade the trend until it stops.

Yes, I have shorts right know.

Monthly is in a downtrend
Weekly is in a downtrend
Daily is in a downtrend
4h is in a downtrend
1h is in a downtrend
15m chart is in a downtrend.

So why going long ? Bounces will come and they have come.
But I am going to short them until things changed. Hopefully I am not going to lose a lot when the trend is changing. I will lose some that's for sure but hopefully not a lot.

Is this the bottom ? Maybe it is, maybe not. i don't care.
I am not going to try to be smarter than the market. cause I tried it before and it doesn't work.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #249,985
  • May 30, 2010 6:34pm May 30, 2010 6:34pm
I call in the next 30 secs eu will go 1.2282 to 1.2285 ...

Quoting bbakker
Nice analysis!

But then you also posted that GU will hit 1.60 (we did see 1.55) without any chart analysis!
http://www.forexfactory.com/showthre...10#post3449610

What I have learned is that if you want any credibility on any forum, you should back up your calls with the chart analysis that show your reasoning for the call.

Please don't take this the wrong way. This is just my experience to the extend that someone even called me a liar and that I didn't even take the trade and closed it with green pips. I had to post a...
Blogging daily now at www.volume.zone
  • #249,986
  • May 30, 2010 6:34pm May 30, 2010 6:34pm
Quoting TexasforEX
Here's a question to the enlightend in the bunch.


If 95% of the people think the euro is obviously going down

&

95% of people loose money in foreign exchange

what will the euro do?
95% don't lose because of direction.. they lose because of timing and over leveraging, greed stupidity ect..
those who can, do. those who cant, talk about those who can
  • #249,987
  • May 30, 2010 6:37pm May 30, 2010 6:37pm
Quoting malcolmb14
I call in the next 30 secs eu will go 1.2282 to 1.2285 ...
LOL nice analysis
  • #249,988
  • May 30, 2010 6:37pm May 30, 2010 6:37pm
Quoting Darpsyx
Thanks for the advise Freddy So I wont trade until there´s volume Hopefully... since UK banks are on holiday ...it must be something related to that Im guessing also this broker is based on UK... maybe can be that too?

Saludos !
Darpsyx
de nada, chico.
Haci mi un favor................take the FREE lessons with www.babypips.com and all these KNOW-IT-ALL gringos won't confuse you anymore.
I want you to learn to trade on your own, trust me, then these forums become more of un pasa tiempo.
  • #249,989
  • May 30, 2010 6:37pm May 30, 2010 6:37pm
Quoting malcolmb14
I call in the next 30 secs eu will go 1.2282 to 1.2285 ...
Where's the chart
  • #249,990
  • May 30, 2010 6:38pm May 30, 2010 6:38pm
Quoting malcolmb14
I call in the next 30 secs eu will go 1.2282 to 1.2285 ...
Wow a 3 full pips move !!!

WTG

Getting it right is NOT as important as not getting it wrong.
  • #249,991
  • May 30, 2010 6:38pm May 30, 2010 6:38pm
Quoting bbakker
Nice analysis!

But then you also posted that GU will hit 1.60 (we did see 1.55) without any chart analysis!
http://www.forexfactory.com/showthre...10#post3449610

What I have learned is that if you want any credibility on any forum, you should back up your calls with the chart analysis that show your reasoning for the call.

Please don't take this the wrong way. This is just my experience to the extend that someone even called me a liar and that I didn't even take the trade and closed it with green pips. I had to post a...

True true. I am not perfect, but God knows I'll keep trying. I also thought eur/gbp was headed to .98. That didn't happen. I posted fairly in depth analysis about the long from 1.35 and the long eur.gbp that struck out. Like I said about posting in depth analysis here is that I really don't like getting judged by people who are not remotely close to being qualified to do so. Also, most good traders who are holding opposite positions just won't see my point of view. Too scary to recognize. What is in it for me by putting my nuts on the table for all to squash? Not a hell of a lot.

I have a methodology for picking major reversal points. I've hit more home runs than I've struck out. All in all, I win some & I lose some but it's all about profits at the end of the year and I've got 'em. Good talk.
"Timing Is Everything. Really I Swear It Is"
  • #249,992
  • May 30, 2010 6:40pm May 30, 2010 6:40pm
Quoting malcolmb14
I call in the next 30 secs eu will go 1.2282 to 1.2285 ...
great call mal thats 300 m pip away
  • #249,993
  • May 30, 2010 6:40pm May 30, 2010 6:40pm
Quoting Freddyfx
de nada, chico.
Haci mi un favor................take the FREE lessons with www.babypips.com and all these KNOW-IT-ALL gringos won't confuse you anymore.
I want you to learn to trade on your own, trust me, then these forums become more of un pasa tiempo.
Heel mooie tagline!
  • #249,994
  • May 30, 2010 6:42pm May 30, 2010 6:42pm
we are going to have low vol conditions for next 1.5 days due to us and Londo being closed

the ecb was rumoured to be intervening in euro last week

if there is any truth to these rumours we may see some form of up move into 1.2360 test ( 50% fib of down move and Fridays point of control )

I am watching the hulls moving average on a 15 and currently that is green with higher lows on dips on a 15 min

if we get above 1.2300 I am long with stop 1.2270
below 1,2260 sell with stop above 1.2300

tp 60 pip on either trade

other than that the 1,2300 to 1.2260 is no mans land

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #249,995
  • May 30, 2010 6:44pm May 30, 2010 6:44pm
Thats the current range...Ill post my analysis early in the morning before London opening if I spot trend consolidation
  • #249,996
  • May 30, 2010 6:44pm May 30, 2010 6:44pm
Quoting DMA Trader
Is this the bottom ? Maybe it is, maybe not. i don't care.
I am not going to try to be smarter than the market. cause I tried it before and it doesn't work.
It doesn't work for you. I never ever ever would think I'm smarter than the market. She is richer, stronger, better looking & is a better driver.

Trading in it's purest form is trying to pick a bottom or a top.

BUY LOW, SELL HIGH.

I pick reversal areas with reasonable stop loss levels just like day traders. I just have much bigger profit targets and loss levels.
"Timing Is Everything. Really I Swear It Is"
  • #249,997
  • May 30, 2010 6:48pm May 30, 2010 6:48pm
Quoting TexasforEX
It doesn't work for you. I never ever ever would think I'm smarter than the market. She is richer, stronger, better looking & is a better driver.

Trading in it's purest form is trying to pick a bottom or a top.

BUY LOW, SELL HIGH.

I just pick reversal areas with reasonable stop loss levels just like day traders. I just have much bigger profit targets and loss levels.
I know what you are saying.
Thats why I said last week

From EW International Quote

From 97% bears on the dollar to 98% bulls.

But I'm not a contrarian. So I will sure be short at the bottom and long at the top. But thats fine to me. Is something that is working for me.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #249,998
  • May 30, 2010 6:54pm May 30, 2010 6:54pm
Quoting suthmo

Buy 2266 Can be in this area till 3/4am current down move might not break 2266

4am .2351 2382
8am .2351 2382 Sell
10am .2200 2183 Bounce Buy
5PM .2400 attempt sell
21:00 .2300 2260 buy22:00 .2500 2560
08:00 Test TL
10:00 Pullback
17:00 break
21:00 Support at 2350 (upper trend line) then long candle to 2500

Thanks to Zink for puttin me on to this.
Attached Image
Founder of Sutherland Wave Principle
  • #249,999
  • May 30, 2010 6:54pm May 30, 2010 6:54pm
i bet a few would change their minds if they would study the top of the 1.6 chart. not all but a few. with that said a new low has to be formed.. hey but tops are sometimes found at the bottom of valleys. even the valleys on the big island are miles above the base under the sea (Hawaii).. . study study study..
many times on holidays pump and dump happens.. dont sit on your nutz..
we aint in Kansas anymore. the dominoes are numbered. a 2 year chart will just hurt your feelings..
those who can, do. those who cant, talk about those who can
  • #250,000
  • May 30, 2010 6:55pm May 30, 2010 6:55pm
Quoting TexasforEX
True true. I am not perfect, but God knows I'll keep trying. I also thought eur/gbp was headed to .98. That didn't happen. I posted fairly in depth analysis about the long from 1.35 and the long eur.gbp that struck out. Like I said about posting in depth analysis here is that I really don't like getting judged by people who are not remotely close to being qualified to do so. Also, most good traders who are holding opposite positions just won't see my point of view. Too scary to recognize. What is in it for me by putting my nuts on the table for...
No one is perfect. We all get calls wrong, even Mal does sometimes!

The beauty of the swing trader is that you can have more losing trades and still make money, so long you let those right ones run and maybe adding to the positions once the swing has been confirmed. If you are wrong, even with a good entry and a reasonable SL that set you up for a high RR ratio, you should only be losing 1% of your account.

Like I said, my entry for a swing trade will be around 1.17 based on the monthly chart. I might be wrong and it might continue further south, but I will ensure that my SL and my position size will only be 1% of my account. I will do my calculations nearer the time of what that will be and I will also need to see price confirmation that this will be a turning point before I enter.
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