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  • #256,661
  • Jun 11, 2010 3:08am Jun 11, 2010 3:08am
Quoting USD-Bear
I'm no indi-man so wouldn't know.
Consolidiation above 1.21 (I think the critical level) without retracing is very bullish for me.
Looking at daily, the upmove of this week is in a premature stage.
We had a long period where almost everyone was bear-determined, current short levels still are very high.
I'm not saying we are entering a bull-market, but the change towards bears wondering if downtrend is intact can have enormous impact.
I'll stay bull and just hedging my longs if I think temporary setbacks are eminent.
I too have short positions hedged by long ones. Since the overall trend is still bearish I'm not too worried about running negatives on my short as long as I keep an eye on my margin level and hedge by going long on bullish spikes such as the one of the 5min chart recently. I think another is about to come so we will test 1.214x area once again
Anyone else feel this way?
  • #256,662
  • Jun 11, 2010 3:08am Jun 11, 2010 3:08am
Quoting CharlesSA
Not sure if I did it correctly, but 1.2146 is roughly where my 50% fib level is...only a few tiny pips away from round number 1.21500. I see this as a major resistance. My view is that if price closes above this level then it will retrace further to around 1.220. If it cannot break this I see the downtrend continuing.

Anyone agree to this reasoning?

Lets see how this plays out.
A little beginner trader since 2006
  • #256,663
  • Jun 11, 2010 3:08am Jun 11, 2010 3:08am
PA is currently held by 1h 200 EMA
  • #256,664
  • Jun 11, 2010 3:12am Jun 11, 2010 3:12am
Quoting 2+2=4ex
You would go long at 2179 even though a resistance is at 2179??
Actually quarter pivot is just below 2151, 2170 is nothing as the market aims for 22xx levels. Many stops are placed at 2170. I would go long yes
  • #256,665
  • Jun 11, 2010 3:12am Jun 11, 2010 3:12am
The recent drop is due to retrace on the 1min and 5min charts, watch closely as 1.214x area is tested once again for resistance sake.

I'm still long although it dropped like a rock (more like a pebble) on the short term charts.

Right now = Good Entry for long
  • #256,666
  • Jun 11, 2010 3:13am Jun 11, 2010 3:13am
I sold fiber @2113

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  • #256,667
  • Jun 11, 2010 3:14am Jun 11, 2010 3:14am
Quoting 2+2=4ex
yea but it's friday
I hate fridays trading but I have some open trade today ...

0.3 lot Long From 1.1924

0.3 Lot Long From 1.2022

0.3 Lot Long From 1.2102

0.3 Lot Long From 1.2112
A little beginner trader since 2006
  • #256,668
  • Jun 11, 2010 3:15am Jun 11, 2010 3:15am
Quoting T.E.Lawrence
PA is currently held by 1h 200 EMA
Yes watching only this things , trying break 1.2099 very good , next confirm 92 will need & last this 200ma low 1.2076 or 72 about that time & hold below to confirm me as bear actually started to go any level below . Till then just castle in the air.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #256,669
  • Jun 11, 2010 3:16am Jun 11, 2010 3:16am
Quoting egkid
Y "It's all about U r Entry and MM"
Exactly, psychology and philosophy of MM is of the utter importance. Write what u do, write down ur wins and losses, dont be afraid to lose, and always have the goal. Dont go beyond ur goal, dont greed as that is the most dangerous thing in MM philosophy. If u aim for 50 pips, take it and leave it. Dont go beyond that
  • #256,670
  • Jun 11, 2010 3:18am Jun 11, 2010 3:18am
Quoting Naseri13
I hate fridays trading but I have some open trade today ...

0.3 lot Long From 1.1924

0.3 Lot Long From 1.2022

0.3 Lot Long From 1.2102

0.3 Lot Long From 1.2112
At what level are you planning on TP?
I too have 0.2 lot long at 1.2100
  • #256,671
  • Jun 11, 2010 3:20am Jun 11, 2010 3:20am
Quoting T@rantula
Exactly, psychology and philosophy of MM is of the utter importance. Write what u do, write down ur wins and losses, dont be afraid to lose, and always have the goal. Dont go beyond ur goal, dont greed as that is the most dangerous thing in MM philosophy. If u aim for 50 pips, take it and leave it. Dont go beyond that
One thing to add also is that if you have a strategy stick with it and take the risk that has previously won you trades, dont second guess yourself out of a potential profit making trade simply because if you do, you have nothing to then regret as it was your choice.
  • #256,672
  • Jun 11, 2010 3:23am Jun 11, 2010 3:23am
At first we would like to see an impulse towards 1.2161 - 1.2191 area. But who knows. Aber ja doch - geht es nicht hinauf - dann geht es eben wieder runter. Hö hö

1.2161 - 1.2191 - that is what we want



we have put various call levels there - cause we want the meat and the blood - not the bones - ha ha
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #256,673
  • Jun 11, 2010 3:24am Jun 11, 2010 3:24am
GBP data coming in 6 minutes, be ready for the ride...

GBP/USD sitting on its 200sma 4H at 1.4691.
Getting it right is NOT as important as not getting it wrong.
  • #256,674
  • Jun 11, 2010 3:24am Jun 11, 2010 3:24am
Quoting lambergino
One thing to add also is that if you have a strategy stick with it and take the risk that has previously won you trades, dont second guess yourself out of a potential profit making trade simply because if you do, you have nothing to then regret as it was your choice.
Yes and always consider and listen to others ppl opinion, even if u think someone is not right and he doesnt think the same as u do, respect that
  • #256,675
  • Jun 11, 2010 3:25am Jun 11, 2010 3:25am
Quoting fxswing
GBP data coming in 6 minutes, be ready for the ride...

GBP/USD sitting on its 200sma 4H at 1.4691.
which way?
  • #256,676
  • Jun 11, 2010 3:26am Jun 11, 2010 3:26am
Quoting lambergino
At what level are you planning on TP?
I too have 0.2 lot long at 1.2100
First was 1.2147 if he can break , 1.2185 and 1.2210 will call !~
I am totally at + 260 pips . I hate Fridays.
I am waiting too close all my positions in Good point.
But H1 is down now.
A little beginner trader since 2006
  • #256,677
  • Jun 11, 2010 3:27am Jun 11, 2010 3:27am
Quoting T.E.Lawrence
which way?
pushed above yesterday, and going back below right now...

Let's see the data.
Getting it right is NOT as important as not getting it wrong.
  • #256,678
  • Jun 11, 2010 3:31am Jun 11, 2010 3:31am
Quoting T@rantula
Exactly, psychology and philosophy of MM is of the utter importance. Write what u do, write down ur wins and losses, dont be afraid to lose, and always have the goal. Dont go beyond ur goal, dont greed as that is the most dangerous thing in MM philosophy. If u aim for 50 pips, take it and leave it. Dont go beyond that
Hey T
Greed isn't always bad now is it?
I believe greed is good if its controlled...

example... if you trail with the SL line, you are still greedy but you still lock in some profit if it goes against you..... but then again if you get the trend you get a good month's salery
  • #256,679
  • Jun 11, 2010 3:33am Jun 11, 2010 3:33am
Quoting T.E.Lawrence
which way?
sell I think because its moving down.
I sold at 1.4700
A little beginner trader since 2006
  • #256,680
  • Jun 11, 2010 3:37am Jun 11, 2010 3:37am
Quoting T@rantula
Exactly, psychology and philosophy of MM is of the utter importance. Write what u do, write down ur wins and losses, dont be afraid to lose, and always have the goal. Dont go beyond ur goal, dont greed as that is the most dangerous thing in MM philosophy. If u aim for 50 pips, take it and leave it. Dont go beyond that
Nice thinking, smart trading
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